UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):   July 12, 2013

ULTRA SUN CORPORATION
(Exact name of registrant as specified in its charter)

Nevada
000-53571
20-1898270
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

1646 W. Pioneer Blvd., Mesquite, NV 89027
(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code:   (702) 758-8772

1532 East St. Marks Court, Salt Lake City, UT 84124
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
 

 

 
ULTRA SUN CORP. AND SUBSIDIARIES
 
Current Report on Form 8-K
 
TABLE OF CONTENTS
 

 
     
 
Page
Item 1.01.  Entry Into a Material Definitive Agreement
2
Item 2.01.  Completion of Acquisition or Disposition of Assets
3
 
  Description of Business
3
 
  Risk Factors
7
 
  Management’s Discussion and Analysis of Financial Condition and Results of Operations
11
 
  Properties
11
 
  Security Ownership of Certain Beneficial Owners and Management
12
 
  Directors, Executive Officers and Corporate Governance
13
 
  Executive Compensation
16
 
  Certain Relationships and Related Transactions and Director Independence
16
 
  Legal Proceedings
17
 
  Market Price of and Dividends on Registrant’s Common Equity and  Related Stockholder  Matters
17
 
  Recent Sales of Unregistered Securities
18
 
  Description of  Securities
18
 
  Indemnification of Directors and Officers
19
 
  Changes in and Disagreements with Accountants on Accounting and  Financial Disclosure
19
Item 3.02.  Unregistered Sale of Equity Securities
19
 
 
Item 5.01.  Change in Control of Registrant
20
Item 5.02.  Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
20
Item 8.01.  Other Events
20
Item 9.01.  Financial Statements, Pro Forma Financial Information and Exhibits
20
Signatures
21
Financial Statements
F-1
Pro Forma Financial Information
  F-13


 
 

 

Forward-Looking Statements

This report contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  These statements reflect the views of Ultra Sun Corporation (the “Registrant”) with respect to future events based upon information available to it at this time.  These forward-looking statements are subject to certain uncertainties and other factors that could cause actual results to differ materially from these statements.  Forward-looking statements are typically identified by the use of the words “believe,” “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “project,” “propose,” “plan,” “intend,” and similar words and expressions.  Examples of forward-looking statements are statements that describe the proposed manufacturing, marketing and sale of the products of Wild Earth Naturals, Inc., the Registrant’s wholly-owned subsidiary, statements with regard to the nature and extent of competition the Registrant may face in the future, and statements with respect to future strategic plans, goals or objectives.  The forward-looking statements are based on present circumstances and on the Registrant’s predictions respecting events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated.  Actual events or results may differ materially from those discussed in the forward-looking statements as a result of various factors, including the risk factors discussed in this report under the caption “RISK FACTORS.”  These cautionary statements are intended to be applicable to all related forward-looking statements wherever they appear in this report.  Any forward-looking statements are made only as of the date of this report and the Registrant assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances.

Item 1.01.                      Entry into a Material Definitive Agreement.

On July 12, 2013, Ultra Sun Corporation, a Nevada corporation (the “Company” or the “Registrant”), Ultra Merger Corp., a Nevada corporation (“Merger Corp.”) and Wild Earth Naturals, Inc., a Nevada corporation (“Wild Earth”) entered into an Agreement and Plan of Reorganization dated as of July 12, 2013 (the “ Reorganization Agreement”) pursuant to which the Registrant formed Merger Corp. as a new, wholly-owned subsidiary of the Registrant, Merger Corp. was merged into Wild Earth with Wild Earth continuing as the surviving corporation,  and the Registrant issued 6,500,000 shares of its restricted common stock to the stockholders of Wild Earth in exchange for all the issued and outstanding shares of Wild Earth capital stock (the “Reorganization”). As a result of the Reorganization, Wild Earth became a wholly owned subsidiary of the Registrant and the Registrant had a total of 7,825,000 shares of common stock outstanding of which 6,500,000 or 83.1% were issued to the Wild Earth stockholders.  The Reorganization resulted in a change in control of the Registrant.

In accordance with the terms of the Reorganization Agreement, at the closing of the Reorganization the members of the Registrant’s former management resigned and the persons designated by Wild Earth were appointed as the new officers and directors of the Registrant with the resignation and appointments of certain director positions becoming effective after compliance with rule 14f-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

The Reorganization Agreement provided that concurrently with or immediately following closing: (i) the Registrant would enter into a consulting agreement with Neil Blosch, the former president of the Registrant; (ii) the private sale of 829,200 shares of the Registrant’s common stock by certain stockholders of the Registrant to certain stockholders of Wild Earth would be completed; and (iii) the private sale of convertible promissory notes in the aggregate principal amount of $68,112 by certain note holders of the Registrant to certain stockholders of Wild Earth would be completed.

The Reorganization Agreement provided that Wild Earth would assume and be responsible for the Registrant’s operating expenses from and after April 1, 2013 and also provided that at closing certain of the Registrant’s stockholders would loan the Registrant the amount of $7,100 as payment of operating losses incurred by the Registrant during the first quarter of 2013, which would only be repaid under certain circumstances.

Additional information with regard to the Reorganization Agreement and the Reorganization is included under Items 2.01 and 5.01 below.  The foregoing summary of the Reorganization Agreement is qualified in its entirety to the Reorganization Agreement itself, a copy of which is included as an exhibit to this report.
 
 
 
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   Item 2.01.                        Completion of Acquisition or Disposition of Assets.

On July 12, 2013 (the “Closing Date”), the Registrant, Merger Corp. and Wild Earth entered into the Reorganization Agreement and the transactions contemplated by the Reorganization Agreement were completed.  Pursuant to the terms of the Reorganization Agreement, the Registrant formed Merger Corp. as a new, wholly-owned subsidiary of the Registrant, Merger Corp. was merged into Wild Earth with Wild Earth continuing as the surviving corporation, and the Registrant issued 6,500,000 shares of its restricted common stock to the stockholders of Wild Earth in exchange for all the issued and outstanding shares of Wild Earth capital stock.  Upon the completion of the Reorganization, Wild Earth became a wholly-owned subsidiary of the Registrant and the Registrant had a total of 7,825,000 shares of common stock outstanding of which 6,500,000 or 83.1% were issued to the Wild Earth stockholders.  The Reorganization resulted in a change of control of the Registrant.  For accounting purposes, Wild Earth will be treated as the acquirer and the historical financial statements of Wild Earth will become the Registrant’s historical financial statements.  The acquisition is intended to constitute a tax-free reorganization pursuant to the applicable provisions of the Internal Revenue Code of 1986, as amended.

In connection with the Reorganization, certain stockholders of the Registrant sold a total of 829,000 shares of the Registrant’s common stock to certain stockholders of Wild Earth in private transactions.
 
In connection with the Reorganization, the Registrant amended and consolidated its outstanding promissory notes having an outstanding balance of principal and accrued interest in the amount of $78,112 as of April 22, 2013.  The Registrant issued new convertible promissory notes to the holders in exchange for their old notes which included the accrued and unpaid interest on the old notes through April 22, 2013 in the principal balance of the new notes.  In addition, the notes were amended to extend the maturity date from December 31, 2013 to May 31, 2016, provide that the principal (but not the interest) of the new notes is convertible into shares of the Registrant’s common stock at the rate 4.25% of the then issued and outstanding shares of the Registrant’s common stock for each $10,000 in principal converted, provide that the notes may not be prepaid, and make other changes as set forth in the new notes.  No payments were made by the Registrant or the note holders in connection with the amendment and consolidation of the old notes.   In connection with the Reorganization, the note holders of the Registrant sold convertible promissory notes having an aggregate principal balance of $68,112 as of April 22, 2013 to certain stockholders of Wild Earth in private transactions.  The foregoing summary of the convertible promissory notes is qualified in its entirety by reference to the notes themselves, the form of which is included as an exhibit to this report.

At the closing of the Reorganization, the former officers of the Registrant resigned from their positions and David Tobias was appointed as president and secretary, and Catherine Carroll was appointed as chief financial officer and treasurer, of the Registrant.  In addition, David O’Bagy resigned from his position as a director and David Tobias was appointed as a director of the Registrant to fill the vacancy created by such resignation.  Neil Blosch, the remaining director, resigned from such position effective following the Registrant’s compliance with rule 14f-1 promulgated under the Exchange Act, and Catherine Carroll and Barry Tobias were appointed as directors of the Registrant effective at such time as Mr. Blosch’s resignation becomes effective.

On or about the date of filing of this report the Registrant will also file with the SEC an information statement pursuant to rule 14f-1 promulgated under Exchange Act (the “14f-1 Information Statement”) that describes the change in a majority of the Registrant’s directors in connection with the Reorganization.  In compliance with Rule 14f-1, such change shall not occur earlier than ten (10) days following the filing date the 14f-1 Information Statement.

Due to the change of control and the significant change in the Registrant’s business resulting from the Reorganization, the Registrant has determined to include in this report information with regard to the Registrant, Wild Earth and the business of the Registrant following the Reorganization.

DESCRIPTION OF BUSINESS

Except as otherwise indicated by the context, references in this Report to “we”, “us”, “our” or the “Company” or the “Registrant” are to the consolidated business of Ultra Sun Corporation and Wild Earth, except that references to “our common stock”, “our shares of common stock” or “our capital stock” or similar terms shall refer to the common stock of Ultra Sun Corporation.
 
 
 
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Information About Ultra Sun Corporation

Ultra Sun Corporation was incorporated under the laws of the state of Nevada   on November 5, 2004 for the purpose of operating a tanning salon business.  From 2004 through the date hereof Ultra Sun has operated a tanning salon in Utah under the name “Sahara Sun.”  The salon contains traditional tanning beds along with spray on tanning machines.  Additional information with respect to Ultra Sun, its tanning salon business and the risks associated therewith is contained in our annual report on Form 10-K for the fiscal year ended December 31, 2012.

Ultra Sun has operated at a loss since inception and has not been able to implement its plan to expand its operations by adding additional locations.  Ultra Sun had outstanding debt in the amount of $78,112 as of April 22, 2013 and required additional capital to fund its operations.  In addition, management believes that the imposition of a new tanning salon tax under the Affordable Care Act and the possibility of increased state regulation of tanning salons will make it increasingly difficult for Ultra Sun to achieve profitability in the future.  Against this backdrop, the directors determined that it was in the best interest of the Registrant to enter into the Reorganization Agreement with Wild Earth Naturals due to the perceived potential for growth of Wild Earth’s business, the willingness of the Registrant’s note holders to extend the maturity dates of their notes in consideration of the addition of a convertibility feature, and the perceived ability of Wild Earth to obtain funding for the Registrant’s future operations.

Wild Earth and the persons designated as the new officers and directors of the Registrant by Wild Earth determined that the Registrant’s tanning salon business was not complementary to or consistent with Wild Earth’s herbal skin care products’ business and determined that the tanning salon business should be discontinued.  Accordingly, at the closing of the Reorganization, the Registrant entered into a consulting agreement with Neil Blosch, the former president, pursuant to which he will continue to manage the tanning salon operations and will assist the Registrant in attempting to sell the tanning salon prior to the expiration of the tanning salon lease on September 30, 2013.  The consulting agreement is for term of approximately two and one half months from July 12 through September 30, 2013; provided, that the agreement will automatically terminate on the date the tanning salon is sold.  The consulting agreement provides for the payment of a consulting fee in the amount of $2,000 per month together with an incentive bonus payable if and when the tanning salon is sold.  The consulting agreement provides that upon the sale of the tanning salon, the proceeds from such sale shall be applied first to pay Mr. Blosch an incentive bonus in the amount of $50,000; second to hold for the benefit of the Registrant the amount of any net loss incurred by the tanning salon (that is, operating costs the tanning salon was not able to pay from its income in its ordinary course of business) during the period from April 1, 2013 through the date of sale; third to pay the promissory note dated July 12, 2013 to Mr. Blosch and two former stockholders of the Registrant in the principal amount of $7,100; and fourth to pay 50% of the remaining sales proceeds (up to a maximum of an additional $25,000) to Mr. Blosch as an additional incentive bonus.  In the event the sales proceeds from the tanning salon are not adequate to pay the amounts listed above, the proceeds will be applied in the order of priority set forth above until they have been exhausted.  The foregoing summary of the consulting agreement is qualified in its entirety by reference to the consulting agreement itself, the form of which is included as an exhibit to this report.

Information About Wild Earth

General

Wild Earth was recently incorporated in Nevada on April 9, 2013 and has not yet commenced its planned principal operations.  From inception through the date of this report, Wild Earth has been taking the steps required to launch its business including hiring key employees, locating an office and manufacturing facility in Mesquite, Nevada, lining up suppliers of the raw materials it will require, and developing its product manufacturing and marketing strategies.

Wild Earth is an herbal skin care products formulation and marketing company that plans to target the growing natural health care products market in the United States and abroad.  Wild Earth plans to develop and manufacture high-quality, herbal based skin care products providing healthier choices to consumers.  In so doing, Wild Earth plans to conduct ongoing research and product innovation to extract the maximum beneficial properties from the herbs it utilizes.  Wild Earth plans to use specialized ingredient mixing processes to produce plant glycerite/mineral herbal blends and oil extractions, which it believes will be unique to the natural health products industry.  Wild Earth plans to work with highly skilled, experienced, professional herbalists and formulators to achieve the best standards of skin care products.  The ingredients for Wild Earth’s products will be selected to meet a number of criteria, including, but not limited to: safety, potency, purity, stability, bio-availability, and efficacy. Wild Earth plans to control the quality of its products beginning at the formulation stage and continuing through controlled sourcing of raw ingredients, manufacturing, packaging, and labeling.      
 
 
 
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Product Line

Wild Earth plans initially to distribute and sell a natural, herbal based line of products called “Skin Garden,”  which is anticipated to include the products described below.

Go Deep .  A deep penetrating healing salve that Wild Earth believes to reduce pain and inflammation when massaged into muscles, ligaments, tendons, and joints.  Solomon’s Root, a main ingredient in this formulation, is recognized by the herbal industry as a “Chiropractors Assistant,” an herbal adjuster for muscles, ligaments, tendons, and joints.  This formula also contains a number of essential oils which are designed to add antibacterial qualities and make the product useful for skin conditions such as Eczema and Psoriasis as well as for insect bites.  Hempseed Oil is used in this formula to carry the ingredients into the dermis.

GDX (Go Deep EXTRA).   A deep penetrating pain relief ointment that Wild Earth believes is useful in mitigating Migraine and Sinus headaches when applied to forehead, temples, and back of the neck. GDX has been formulated with Black and Cayenne Pepper, which have been shown to increase circulation, and Camphor and Eucalyptus Oil to open sinus passages and relieve pressure on blood vessels in the head and neck.  Hempseed Oil is used in this formula to transport ingredients into the dermis.

Face Garden.   An antioxidant, moisturizing cream for the face. The ingredients in this formula include DMAE, Vitamins Ester C, B5, Oils of Evening Primrose and Borage Seed, which are believed to firm the skin and reduce puffiness and wrinkles, while restoring the skin to a natural glow and supple appearance. Hemp, Neem, and Jojoba Oils are added to lock in moisture.

Body Garden.   A moisturizing body lotion designed to relieve itchy dry skin and protect against sun damage. The organic herbs, essential oils, butters, and minerals used in “Body Garden” have been formulated to provide nutrition to the skin and encourage the dermis to remain healthy or return to health.

Lip Garden.   An emollient balm containing Vitamin E and Hemp Butter that Wild Earth believes can assist with healing of the lips while keeping them supple and moist.

Distribution and Marketing

During 2013, Wild Earth plans to execute several strategies designed to grow our business.  Our sales force will initially consist of dedicated sales professionals who are assigned to specific accounts, classes of trade and/or geographic territories. These sales professionals will work directly with retailers and distributors to increase knowledge of our products and general personal care benefits, solicit orders for our products, maximize our shelf presence, and provide related product sales assistance.  
 
We plan to market our products using a mix of trade and consumer promotions; Internet, radio and print media advertising; and consumer education efforts.
 

 
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Online/Retail

We plan to launch our website and an online store in August, 2013, employing high quality graphic artists and designers. SEO optimization will be used to attempt to gain first page search engine rankings, particularly Google. We also plan to open an online store on Amazon.com at or about the same time.
 
Wholesale

In 2013, we plan to utilize Internet advertising, telephone and email campaigns, and trade show participation to generate sales leads and orders and to gain entry into leading health food stores and chains, as well as independent retailers throughout the US and internationally.

Geographic Presence

We plan to distribute and sell our products primarily in North America/Europe and China/Asia Pacific.

Research and Development

It is through our internal research and development efforts and our relationships with outside research organizations and health care providers that we can provide what we believe to be some of the highest quality skin care products in the industry.   Our research and development efforts will be focused on developing and providing high quality herbal skin care products. Our research and development activities will include developing products that are new to the industry, updating existing formulas to keep them current with the latest science, and adapting existing formulas to meet ever-changing regulations in new and existing international markets. Our R&D activities will be led by David Tanner, whose previous experience includes an executive position with Earth Science, a subsidiary of Nature’s Sunshine Products, and the founder of Apple-A-Day, one of the first companies in the industry to successfully combine trace mineral complexes with essential oils.  Mr. Tanner is a formulator and is skilled in developing herbal tinctures, essential oils, trace minerals and mono-atomic high spin element combinations.  We anticipate that our research and develop activities will include the following:

• Identify and research combinations of nutrients that may be candidates for new products;
• Introduce new ingredients for use in supplements; 
• Study the metabolic activities of existing and newly identified ingredients; 
• Enhance existing products, as new discoveries in skin care are made; 
• Formulate products to meet diverse regulatory requirements across all of our markets; and 
• Investigate processes for improving the production of our formulated products.
• Investigate activities of natural extracts and formulated products in laboratory and clinical settings; 

Employees

Wild Earth currently has four employees, consisting of its officers.  Wild Earth’s employees are not represented by unions and it considers its relationship with its employees to be good.

Facilities

Wild Earth entered into a lease dated effective as of August 1, 2013 for an office and warehouse facility in Mesquite, Nevada that will serve as the Registrant’s principal executive offices and provide manufacturing and warehouse space.  The lease is for an initial term of six months with options to extend the term of the lease for additional 12 month periods at rental rates acceptable to the parties.  The leased space initially consists of 908 square feet of space and the Registrant has the option to expand the space by an additional 1,631 square feet for a total of 2,531 square feet at any time.  The rent for the initial space is $681 per month which will increase to $1,392 per month if and when the Registrant elects to take over the expansion space.  The Registrant is also obligated to pay monthly common area and maintenance fees in the amount of $0.10 per square foot of leased space.  The Registrant believes such space will be adequate for its needs for the next twelve months.
 
 
 
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Management

The directors of Wild Earth are David Tobias and Carl Sanko and its officers are David Tobias, president and secretary; Catherine Carroll, chief financial officer; Carl Sanko, treasurer; and David Tanner, chief operating officer.

Competition

The market for the sale of herbal skin care products is highly fragmented and competitive. We believe that competition is based principally upon price, quality, and efficacy of products, customer service, brand name and marketing and trade support, and successful new product introductions.

Our competition includes numerous skin care companies that are highly fragmented in terms of geographic market coverage, distribution channels, and product categories. In addition, large pharmaceutical companies compete with us in the skin care market. These companies and certain large entities have broader product lines and larger sales volumes than us and have greater financial and other resources available to them and possess extensive manufacturing, distribution and marketing capabilities.  Among our more prominent competitors are: Earthly Body, Burt’s Bees, Melaleuca and Clarins, all of which have substantially longer track records and greater financial resources and operating efficiencies than Wild Earth.  There can be no assurance that Wild Earth will be able to compete effectively in the market.

Many companies within the industry are privately held. Therefore, we are unable to assess the size of all of our competitors. As the personal care industry continues to evolve, we believe retailers will align themselves with suppliers who are financially stable, market a broad portfolio of products and/or well-known brands, provide quality assurance, and offer superior customer service. We believe that we will be able to compete favorably with other personal care companies on the basis of our planned levels of customer service, competitive pricing, sales and marketing support and quality of our product lines.  However, as a newly formed company with limited capital resources, we believe will be at a competitive disadvantage until such time as we develop a broad portfolio of products that are known and accepted in the industry and we are able to demonstrate a history of financial stability.  

Regulation

Wild Earth and its proposed products will be subject to a number of federal, state and local laws, rules and regulations.  Wild Earth will be required to manufacture its products in accordance with the Good Manufacturing Practices guidelines and will be subject to regulations relating to employee safety, working conditions, protection of the environment, and other items.  Changes in such laws, rules and regulations or the recall of any product by a regulatory authority, could have a material adverse effect on Wild Earth’s business and financial condition.

RISK FACTORS

The financial condition, business, operations, and prospects of the Registrant involve a high degree of risk.  You should carefully consider the risks and uncertainties described below, which constitute the material risks relating to the Registrant, and the other information in this Report.  If any of the following risks are realized, the Registrant’s business, operating results and financial condition could be harmed and the value of the Registrant’s stock could suffer.  This means that investors and stockholders of the Registrant could lose all or a part of their investment.   Prospective investors are cautioned not to make an investment in our stock unless they can afford to lose their entire investment.

Risks Relating to Our Business

Wild Earth has not yet launched its herbal skin care products business and there can be no assurance that such business will be profitable.
 
 
 
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Wild Earth has not yet launched its herbal skin care products business and there can be no assurance that such business will be profitable.  Wild Earth’s business will involve the launch of products that are new to the market and there can be no assurance that such products will receive acceptance in the market or that such products will be able to be sold in quantities sufficient to provide the Registrant with an operating profit.

The Registrant will require substantial additional equity or debt financing to successfully implement its business plan and its failure to obtain such financing could delay or curtail its operations .

The Registrant must obtain substantial additional equity or debt financing in order to implement the business plan of Wild Earth and commence manufacturing and marketing of its herbal skin care products.   The Registrant has not entered into any agreements or arrangements for the provision of such additional financing, and no assurance can be given that such financing will be available on terms acceptable to the Registrant or at all.

Wild Earth, has a limited operating history and it is difficult to evaluate its business .

Wild Earth was only recently incorporated in April 2013 and does not have an established history of operations.  Wild Earth faces all the risks inherent in a new business and there can be no assurance it will be successful and/or profitable. Wild Earth’s entry into the herbal skin care products industry and its lack of a significant operating history make it difficult to evaluate the risks and uncertainties it faces. Wild Earth’s failure to address these risks and uncertainties could cause its business results to suffer.

Unfavorable publicity or consumer perception of Wild Earth’s products or any similar products distributed by other companies could have a material adverse effect on the Registrant’s business and financial condition .

         Wild Earth believes its product sales will be highly dependent on consumer perception of the safety, quality and efficacy of its products as well as similar or other herbal supplement products distributed and sold by other companies.  Consumer perception of Wild Earth’s products can be significantly influenced by scientific research or findings, regulatory investigations, litigation, national media attention, and other publicity including publicity regarding the legality, safety or quality of particular ingredients or products or the herbal supplement market in general.  From time to time, there is unfavorable publicity, scientific research or findings, litigation, regulatory proceedings and other media attention regarding Wild Earth’s industry.  There can be no assurance that future publicity, scientific research or findings, litigation, regulatory proceedings, or media attention will be favorable to the herbal supplement market or any particular product or ingredient, or consistent with earlier publicity, scientific research or findings, litigation, regulatory proceedings or media attention.  Adverse publicity, scientific research or findings, litigation, regulatory proceedings or media attention, whether or not accurate, could have a material adverse effect on the Registrant’s business and financial condition.  In addition, adverse publicity, reports or other media attention regarding the safety, quality, or efficacy of Wild Earth’s products or ingredients or herbal supplement products or ingredients in general, or associating the consumption of Wild Earth’s products or ingredients or herbal supplement products or ingredients in general with illness or other adverse effects, whether or not scientifically supported or accurate, could have a material adverse effect on the Registrant’s business and financial condition.

Wild Earth will be subject to the risk of product liability claims and the loss of any such claim in excess of its insurance coverage could have a material adverse effect on Wild Earth.

As a manufacturer and distributor of products for topical application, Wild Earth will be subject to the inherent risk of product liability claims and litigation.  Additionally, the manufacture and sale of these products involves the risk of injury to consumers due to tampering by unauthorized third parties or product contamination.  Wild Earth plans to acquire product liability insurance prior to the sale of any products in amounts it believes adequate but no assurance can given that its coverage will continue to be available at acceptable prices or that such coverage will be adequate in scope and coverage to protect Wild Earth from product liability claims.

        

 
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Wild Earth’s business is subject to intellectual property risks.   

Wild Earth does not plan to apply for patent protection for most of its products.  Because the labeling regulations applicable to Wild Earth’s herbal skin care products require that the ingredients be listed on product containers, patent protection is not practical given the large number of manufacturers who produce herbal supplements having many active ingredients in common.  In addition, Wild Earth also plans to conduct ongoing research and development designed to develop better and more effective products, and our products could be subject to frequent reformulations which would make the patent protection process cumbersome.  Wild Earth plans to protect its technology and the techniques it uses to improve the purity and effectiveness of its products by relying on trade secret laws. Wild Earth also plans to enter into confidentiality agreements with its employees who are involved in research and development activities in sensitive areas. Additionally, Wild Earth will attempt to obtain trademark and trade dress protection for its products.  However, there can be no assurance that Wild Earth’s efforts to protect its trade secrets and trademarks will be successful nor can there be any assurance that third-parties will not assert claims against Wild Earth for infringement of their intellectual property rights.  If an infringement claim is asserted, Wild Earth may be required to obtain a license of such rights, pay royalties on a retrospective or prospective basis, or terminate its manufacturing and marketing of any infringing products.  Litigation with respect to such matters could result in substantial costs and diversion of management and other resources and could have a material adverse effect on the Registrant’s business and financial condition.

Wild Earth’s failure to comply with existing or new regulations, both in the United States and abroad, or an adverse action regarding product formulation, claims or advertising could have a material adverse effect on our business and financial condition .  

Wild Earth’s   business operations, including the formulation, manufacturing, packaging, labeling, advertising, distribution and sale of its products, are subject to regulation by various, federal, state and local government entities and agencies, potentially including the FDA and FTC in the United States as well as foreign entities and agencies.  Wild Earth could be subjected to challenges to its marketing, advertising or product claims in litigation or governmental, administrative or other regulatory proceedings.  Failure to comply with applicable regulations or withstand such challenges could result in changes in product labeling, packaging, or advertising, product reformulations, discontinuation of Wild Earth’s product by retailers, loss of market acceptance of the product by consumers, additional recordkeeping requirements, injunctions, product withdrawals, recalls, product seizures, fines, monetary settlements or criminal prosecution.  Any of these actions could have a material adverse effect on the Registrant’s business and financial condition.  
 
We depend on our officers and the loss of their services would have an adverse effect on our business.

We have only four employees, all of whom are officers of the Registrant or its subsidiary.  We are dependent on our officers, particularly our president, to operate our business and the loss of such person would have an adverse impact on our operations until such time as he could be replaced, if he could be replaced.  We do not have employment agreements with our officers and we do not carry key man life insurance on their lives.  (See “Management.”)

Because we are significantly smaller than the majority of our competitors, we may lack the resources needed to capture market share

The herbal skin care industry is highly competitive and is affected by changes in consumer tastes, as well as national, regional and local economic conditions and demographic trends.  Our sales can be affected by changes in consumer tastes and practices, the popularity of herbal products in general, and the type, price and quality of competing herbal skin care products available in the marketplace. The herbal skin care products industry is extremely competitive with respect to price, quality, efficacy and customer service.  We compete with a variety of other manufacturers of herbal and other skin products including national and regional companies with name brand recognition who manufacture more than just a single product or product line.  Most of our competitors have been in existence longer and have a more established market presence and substantially greater financial, marketing and other resources than do we.  New competitors may emerge and may develop new or innovative herbal skin care products that compete with our products. No assurance can be given that we will be able to compete successfully in the herbal skin care industry.
 
 
 
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Risks Relating to Our Common Stock

There is currently no liquid trading market for our stock and there is no assurance that any liquid  market will develop in the future, which means a purchaser of our shares may not be able to resell the shares in the future

There is currently no active, liquid trading market for our stock, and there can be no assurance that an active or liquid trading market for our stock will develop in the future. As a result, an investment in our common stock must be considered an “illiquid” investment and a purchaser may not be able to resell the shares acquired by him, her or it in the future.

Our stock is subject to special sales practice requirements that could have an adverse impact on any trading market that may develop for our stock

Our stock is subject to special sales practice requirements applicable to “penny stocks” which are imposed on broker-dealers who sell low-priced securities of this type.  These rules may be anticipated to affect the ability of broker-dealers to sell our stock, which may in turn be anticipated to have an adverse impact on the market price for our stock if and when an active trading market should develop.

Our officers, directors and principal stockholders own a large percentage of  our issued and outstanding shares and other stockholders have little or no ability to elect directors or influence corporate matters

As of July 18, 2013, our officers, directors and principal stockholders were deemed to the beneficial owners of over 92% of our issued and outstanding shares of common stock.  As a result, such persons will able to determine the outcome of any actions taken by us that require stockholder approval.  For example, they will be able to elect all of our directors and control the policies and practices of the Registrant.

We do not anticipate paying dividends in the foreseeable future

We have never paid dividends on our stock. The payment of dividends, if any, on the common stock in the future is at the discretion of the board of directors and will depend upon our earnings, if any, capital requirements, financial condition and other relevant factors. The board of directors does not intend to declare any dividends on our common stock in the foreseeable future.

Following the effectiveness of the change in our management, we will have only three directors and they will not be independent directors, which means our board of directors may be influenced by the concerns, issues or objectives of management to a greater extent than would occur with a number of independent directors

Following the effectiveness of the change in our management, we will have only three directors and they will not be independent directors.  As a result, our board of directors may be influenced by the concerns, issues or objectives of management to a greater extent than would occur with independent board members. In addition, we do not have the benefit of having persons independent of management review, comment and direct our corporate strategies and objectives and oversee our reporting processes, our disclosure controls and procedures and our internal control over financial reporting.
 
We have the ability to issue additional shares of common stock and to issue shares of preferred stock without stockholder approval

The Registrant is authorized to issue up to 45,000,000 shares of common stock.  To the extent of such authorization, the officers of the Registrant have the ability, without seeking stockholder approval, to issue additional shares of common stock in the future for such consideration as they believe to be sufficient. The issuance of additional common stock in the future will reduce the proportionate ownership and voting power of the Registrant’s current stockholders.   The Registrant is also authorized to issue up to 5,000,000 shares of preferred stock, the rights and preferences of which may be designated in series by the board of directors.  To the extent of any authorizations, such designations may be made without stockholder approval. The designation and issuance of a series of preferred stock in the future could create additional securities which may have voting, dividend, liquidation preferences or other rights that are superior to those of the common stock, which could effectively deter any takeover attempt of the Registrant.
 
 
 
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The shares of common stock available for sale in the future could adversely affect the market price for the Registrant’s common stock .

Of the 7,825,000 shares outstanding, approximately 1,325,000 shares are freely tradable if held by non-affiliates or eligible for resale under Rule 144 promulgated under the Securities Act of 1933, as amended, if held by affiliates.  Sales of substantial amounts of this common stock in the public market could adversely affect the market price for the Registrant’s common stock.  The approximately 6,500,000 remaining shares will become available for sale under Rule 144 in about January, 2014, and the availability of those shares for sale could also adversely affect the market price for the Registrant’s common stock.  In addition, the Registrant’s outstanding convertible promissory notes are convertible into a number of shares of the Registrant’s common stock equal to approximately 33.2% of the currently issued and outstanding shares of the Registrant.  If the convertible notes are converted and the shares are placed for sale, such sales could adversely affect the market price for the Registrant’s common stock.

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion in conjunction with our financial statements, which are included elsewhere in this prospectus.  The following information contains forward-looking statements.

The Registrant’s plan of operation is to use its existing capital together with the proceeds from future financings to launch the herbal skin care products business of Wild Earth.  The Registrant anticipates that its tanning salon business will be sold or otherwise discontinued prior to October 1, 2013. As of July 18, 2013, the Registrant’s liabilities exceeded its assets and it requires significant additional debt or equity financing in order to continue its operation.

The Registrant estimates that it will incur expenses during the next twelve months for product manufacturing, marketing, research and development, payroll, office rent and other general and administrative expenses, including legal, and accounting.  The Registrant will have to fund such costs through additional debt or equity financings until such time as product sales have commenced and are sufficient to offset the Registrant’s costs of operation.

The Registrant anticipates that following the sale of its tanning salon business, its sole source of income will be from the sale of the Wild Earth herbal skin care products.  There can be no assurances that the revenues from such product sales will be sufficient to cover the Registrant’s costs of operation or that the Registrant will be able to operate on a profitable basis.
 
 
The Registrant plans to seek additional debt or equity financing during the next twelve months in a total amount of up to approximately $250,000, which it believes will permit it to cover its minimum expenses described above and permit it to launch the initial Wild Earth products.  The Registrant has not entered into any agreement or arrangement for the provision of such financing and no assurances can be given that it will be able to obtain such financing on terms acceptable to it or at all.  The Registrant’s principal stockholders have indicated their willingness to provide the Registrant with additional financing in the short term but they have no obligation to do so and there is no assurance that such financing will be provided.

PROPERTIES

Wild Earth entered into a lease dated effective as of August 1, 2013 for an office and warehouse facility in Mesquite, Nevada that will serve as the Registrant’s principal executive offices and provide manufacturing and warehouse space.  The lease is for an initial term of six months with options to extend the term of the lease for additional 12 month periods at rental rates acceptable to the parties.  The leased space initially consists of 908 square feet of space and the Registrant has the option to expand the space by an additional 1,631 square feet for a total of 2,531 square feet at any time.  The rent for the initial space is $681 per month which will increase to $1,392 per month if and when the Registrant elects to take over the expansion space.  The Registrant is also obligated to pay monthly common area and maintenance fees in the amount of $0.10 per square foot of leased space.  The Registrant believes such space will be adequate for its needs for the next twelve months.
 
 
 
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth as of July 18, 2013, the number of shares of the Registrant’s  common stock, par value $0.001, owned of record or beneficially by each person known to be the beneficial owner of 5% or more of the issued and outstanding shares of the Registrant’s common stock, and by each of the Registrant’s officers and directors, and by all officers and directors as a group, after giving effect to the changes in management effected and to be effected pursuant to the Reorganization.  In computing the number and percentage of shares beneficially owned by each person, we include any shares of common stock that could be acquired within 60 days of July 18, 2013, by the conversion of convertible notes.  On July 18, 2013, there were 7,825,000 shares of the Registrant’s common stock issued and outstanding.  To our knowledge, each person named below has sole voting and investment power with respect to the shares shown unless otherwise indicated.
 
We know of no arrangements, including pledges, by or among any of the forgoing persons, the operation of which could result in a change of control of the Registrant.
 
Name and Address of Beneficial Owner (1)
 
Amount of Direct Ownership After Acquisition.
   
Amount of Indirect Ownership After Acquisition
   
Total Beneficial Ownership After Acquisition
   
Percentage of Class (2)
 
Principal Stockholders
                       
Sadia Barrameda
    576,308 (3)     4,486,876 (4)     5,063,184 (3)(4)     55.1 %
New Compendium Corp
    4,486,876 (5)     0       4,486,876 (5)     49.8 %
Officers and Directors
                               
David Tobias
    4,486,941 (6)     0       4,486,941 (6)     49.8 %
Catherine Carroll
    65,000       0       65,000       0.8 %
Barry Tobias
    0       0       0       -  
Neil Blosch
    0       0       0       -  
All Officers and Directors
As Group (4 Persons)
    4,551,941       0       4,551,941       50.5 %

(1)   The address for Sadia Barrameda and New Compendium Corporation is P.O. Box 1363, Discovery Bay, California 94505.  The address for each named executive officer and director is the same address as the Registrant.
(2)   Calculations of total percentages of ownership outstanding for each person or group assume the exercise of convertible securities that are exercisable within 60 days of July 18, 2013 by the individual or group to which the percentage relates, pursuant to Rule 13d-3(d)(1)(i).   Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities.  Shares of common stock that can be acquired within 60 days are deemed to be beneficially owned by the person holding such securities for the purpose of computing the percentage of ownership of such person, but are not treated as outstanding for the purpose of computing the percentage ownership of any other person.
(3)   Includes 182,573 shares which Ms. Barrameda has the right to acquire pursuant to the terms of convertible promissory notes from the Registrant.  The notes are in the principal amount of $5,369 and are convertible into 4.25% of the issued and outstanding shares of the Registrant’s common stock on the date of conversion (after giving effect to such conversion) for each $10,000 of principal converted.  The number of shares issuable upon conversion of the notes has been calculated based on the 7,825,000 issued and outstanding shares on July 18, 2013.
 
 
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(4)   Ms. Barrameda may be deemed to be the beneficial owner of the shares beneficially owned by New Compendium Corporation as a result of her status as an officer, director and sole stockholder of New Compendium.
(5)   Includes 1,181,676 shares which New Compendium has the right to acquire pursuant to the terms of convertible promissory notes from the Registrant.  The notes are in the principal amount of $30,872 and are convertible into 4.25% of the issued and outstanding shares of the Registrant’s common stock on the date of conversion (after giving effect to such conversion) for each $10,000 of principal converted.  The number of shares issuable upon conversion of the notes has been calculated based on the 7,825,000 issued and outstanding shares on July 18, 2013.
(6)   Includes 1,181,676 shares which Mr. Tobias has the right to acquire pursuant to the terms of convertible promissory notes from the Registrant.  The notes are in the principal amount of $30,872 and are convertible into 4.25% of the issued and outstanding shares of the Registrant’s common stock on the date of conversion (after giving effect to such conversion) for each $10,000 of principal converted.  The number of shares issuable upon conversion of the note has been calculated based on the 7,825,000 issued and outstanding shares on July 18, 2013.
 
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Set forth below are the names of the Registrant’s directors, officers and significant employees, their business experience during the last five (5) years, their ages and all positions and offices that they held with the Registrant on the Closing Date.

Name
Age
Titles
Directors and Officers (1)
   
David Tobias
61
President, Secretary, and Director
Catherine Carroll
72
Chief Financial Officer and Treasurer
Director (commencing on the 10 th day following the Information Filing Date)
Barry Tobias
71
Director (commencing on the 10 th day following the Information Filing  Date)
Neil Blosch
53
Director (until the 10 th day following the Information Filing Date)
Significant Employees
   
David Tanner
59
Chief Operating Officer – Wild Earth
     
(1)   The current directors are Neil Blosch and David Tobias.  David Tobias was appointed by Neil Blosch at the time of the Reorganization.  Mr. Blosch has resigned from the board of directors effective following the Registrant’s compliance with Rule 14f-1 promulgated under the Exchange Act, which we expect will be on or about July 29, 2013.  At that time, the appointment of Catherine Carroll and Barry Tobias to the board of directors will become effective.

Certain biographical information with respect to the Registrant’s executive officers and directors and certain significant employees is set forth below.

David Tobias.   Mr. Tobias has served as President of Wild Earth Naturals since May, 2013.  He has also served as the President of Hemp, Inc. since August 2011.  Prior to that, from October 2009 until May 2011, Mr. Tobias held the position of Vice President at Medical Marijuana Inc. where he was instrumental in bringing forward and culminating the merger between CannaBank and Medical Marijuana, Inc. He was earlier Sales Manager for Tulsa custom builder Xcite Homes, from October 2008 to August 2009. Among other qualifications, Mr. Tobias brings to the Board Executive leader ship experience, including his service as a president of a public company, along with extensive entrepreneurial experience. Mr. Tobias also has a keen sense of the social, political, and economic environment in which the company operates.

Catherine Carroll.   Ms. Carroll has been CFO of Wild Earth Naturals   since May, 2013. Ms. Carroll has been   self-employed since 1984. Ms. Carroll brings an extensive background in accounting, tax preparation, IRS audits, and appeals to the company. The Board believes that her insights gained from teaching basic tax preparation classes for 15 years, being an expert witness in tax court; along with her “Life Time Limited Services” teacher’s credential in accounting at Delta College in Stockton, CA for 6 years will bring the company a valuable perspective.
 
 
 
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Barry Tobias.   Mr. Tobias   has been a director of the company since June, 2013.   Mr. Tobias served as Regional Manager for Gate Automation/Access Controls Contractor from January of 2009 to February of 2013. Previously, Mr. Tobias was employed by Automated Gate Services, Inc. from 1998 through 2008. We believe Mr. Tobias’ qualifications to sit on our board rest in his experience in marketing, systems integration and consummated sales to clients such as Ashland™ Chemical Co.,  Northrop Grumman™ (for the Global Hawk drone), Toyota Distribution and Toyota Racing Development,  Thermal Airport (Palm Springs area), Hemet Regional Airport,   Burbank  Airport, Chino Airport,  Dept. of Homeland Security, U. S Border Patrol, California Highway Patrol, County of San Bernardino, AT&T™,  City of Los Angeles MTA, Van Nuys Airport,  University of Southern California, Divine Word Missionaries™,  Chrysler  Corporation™, Target™ Stores, Hovnanian Development, Pacific Coachways, St. Catherine's Military Academy.  St. Joseph Medical Center, Sempra Energy™, BHP Steel™,  U.S. Navy,  U.S. Marine Corps, San Bernardino County, CA., City of Westminster, CA., City of Victorville,  CA., City of Port Hueneme, CA.,  Office Depot™, Pfizer™ Pharmaceuticals, Rancho Cucamonga Quakes Baseball Stadium, and personalities including Jet Li, Burt Ward, Merv Griffin, Delta Burke, Clint Eastwood  and Fred Claire.
 
Neil Blosch.   Mr. Blosch has been the owner and operator of tanning salons since 2000, owning Sahara Sun Tanning Salon. Mr. Blosch is also a licensed General Contractor and specializes in tenant finishing, including the tenant finishing of tanning salons. Mr. Blosch received his Bachelor of Science degree in Economics from the University of Utah.  Mr. Blosch will cease to serve as a director approximately ten days’ following the filing of the 14f-1 Information Statement.

David Tanner .   Mr. Tanner has been COO of Wild Earth Naturals since May, 2013. Previously, Mr. Tanner was CEO of Red Rock Naturals from 2003 to 2011. Mr. Tanner also served as project manager for Tree of Light Publishing from 2003 to 2009. Mr. Tanner has developed a broad understanding of the Registrant’s business and operations goals, as well as the markets in which the Registrant competes. Mr. Tanner was educated at Snow College and Brigham Young University from 1975 -1978 and learned from family friend Dr. John Christopher, known as “The Father of Modern Herbology.” Mr. Tanner’s start-up, Apple-A-Day, was the first company in the natural products industry to successfully combine trace mineral complexes with essential oils.

Katherine Tanner .    Ms. Tanner formulated skin care products for Red Rocks Naturals from 2003-2011. We believe that Mrs. Tanner’s extensive training with master herbalists will be integral in the research and development of the Wild Earth Naturals product line. Mrs. Tanner has an extensive background in marketing and management at Wal-Mart and Fingerhut's Western Distribution facility. Mrs. Tanner was educated at Chatterton & Walker as a Clinical Laboratory Technician. The Board of Directors values her ability to implement strategic objectives and management skills as a supervisor, inventory analyst, and trainer and account manager.

Following is a brief description of the specific experience and qualifications, attributes or skills of each director that led to the conclusion that such person should serve as a director of the Registrant.

Mr. David Tobias’ knowledge regarding the business of Wild Earth and the implementation of its business plan, provides a critical link between management and the board, enabling the board to provide its oversight function with the benefit of management's perspective of the business.

Ms. Carroll's knowledge regarding the history, operations and financial condition of Wild Earth provides a critical link between management and the board, enabling the board to provide its oversight function with the benefit of management's perspective of the business.

Mr. Barry Tobias’ broad business and marketing experience provide the Board with the perspective of a seasoned executive with a critical understanding of the marketing challenges that will be faced by the Registrant in launching the Wild Earth products.

Term of Office

The term of office of each director is one year and until his or her successor is elected at the Registrant’s annual stockholders’ meeting and is qualified, subject to removal by the stockholders.  The term of office for each officer is for one year and until his or her successor is elected at the annual meeting of the board of directors and is qualified, subject to removal by the board of directors.  Each of the Registrant’s officers and directors has served in the offices indicated in the above table since July 12, 2013, except that Neil Blosch has served as a director since 2004, and the appointments of Catherine Carroll and David Tanner as directors of the Registrant will not become effective until ten days following the filing of the 14f-1 Information Statement.
 
 
 
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Family Relationships

There are no family relationships among our directors, executive officers or persons nominated or chosen to become directors or executive officers except that David Tobias, president, secretary and a director, and Barry Tobias, a director, are brothers.

Director Meetings and Stockholder Meeting Attendance

The Board of Directors held no formal meetings during 2012 and the directors took action by written consents in lieu of meetings.  Our policy is to encourage, but not require, members of the Board of Directors to attend annual stockholder meetings. We did not hold an annual stockholders’ meeting during the prior year.

Board of Directors

Following the effectiveness of the director appointments that will occur ten days following the filing of the 14f-1 Information Statement, our board of directors will consist of three persons, David Tobias, Catherine Carroll and Barry Tobias.  Such persons are not “independent” within the meaning of Rule 4200(a)(15) of the NASDAQ Marketplace because they are officers and employees of the Registrant.

Our board of directors has not appointed any standing committees, there is no separately designated audit committee and the entire board of directors acts as our audit committee.  The board of directors does not have an independent “financial expert” because it does not believe the scope of the Registrant’s activities to date has justified the expenses involved in obtaining such a financial expert.  In addition, our securities are not listed on a national exchange and we are not subject to the special corporate governance requirements of any such exchange.

The Registrant does not have a compensation committee and the entire board participates in the consideration of executive officer and director compensation.  The Registrant’s president and chief financial officer and treasurer are also members of the Registrant’s board of directors and they participate in determining the amount and form of executive and director compensation.  To date, the Registrant has not engaged independent compensation consultants to determine or recommend the amount or form of executive or director compensation.

The Registrant does not have a standing nominating committee and the Registrant’s entire board of directors performs the functions that would customarily be performed by a nominating committee.  The board of directors does not believe a separate nominating committee is required at this time due to the limited size of the Registrant’s business operations and the limited resources of the Registrant which do not permit it to compensate its directors.  The board of directors has not established policies with regard to the consideration of director candidates recommended by security holders or the minimum qualifications of such candidates.

Compliance with Section 16(a) of the Exchange Act

Section 16(a) of the Exchange Act requires our directors and executive officers, and persons who own more than 10 percent of a registered class of our equity securities to file reports of securities ownership and changes in such ownership with the SEC.  Officers, directors, and greater than ten percent shareholders also are required by rules promulgated by the SEC to furnish us with copies of all Section 16(a) reports they file.  Based solely on a review of the copies of such reports furnished to us, we believe that all Section 16(a) filing requirements were timely met during the Registrant’s 2012 fiscal year.


 
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Code of Ethics

The Registrant previously adopted a Code of Ethics that applies to all of our directors and executive officers serving in any capacity, including our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions.  New management intends to review the Code of Ethics and make changes or revisions thereto in the exercise of its discretion.

Director Compensation

Our directors do not currently receive any compensation for serving in their capacities as directors and we have not compensated our directors for service in such capacity in the past.

EXECUTIVE COMPENSATION

Ultra Sun Corporation did not pay any compensation to any of its officers during the fiscal years ended December 31, 2011 or 2012 and it did not grant any stock options or restricted stock to its officers during such periods.

Wild Earth did not pay any compensation to any of its officers during the period from its inception on April 9, 2013 through May 31, 2013, the date of its most recent financial statements, except that David Tanner was paid consulting fees in the amount of $3,000 through May 31, 2013.

The Registrant proposes to compensate its new officers as follows although the amount and payment of such compensation are subject to change: David Tobias, $50 per hour for services provided to the Registrant; Catherine Carroll, $50 per hour per services provided to the Registrant; and David Tanner, $3,000 per month.  In addition, the Registrant plans to engage Barry Tobias, a director, as its sales manager and compensate him at the rate of $2,000 per month plus a 15% sales commission.

As discussed below under Certain Relationships and Related Transactions, and Director Independence, the Registrant has entered into a consulting agreement with Neil Blosch providing for monthly compensation through the expiration of the agreement on September 30, 2013 and the payment of an incentive bonus.

Neither Ultra Sun Corporation nor Wild Earth Naturals, Inc. has any stock option, retirement, pension or profit-sharing programs for the benefit of its directors, officers or other employees; however the Registrant may adopt one or more such programs in the future.

Neither Ultra Sun Corporation nor Wild Earth Naturals, Inc. currently compensates its directors for serving in their capacities as directors but they do reimburse such persons for expenses reasonably incurred by them in connection with the Registrant’s business.

Employment Agreements

There are currently no employment agreements or severance agreements between the Registrant and its officers.  As discussed below under Certain Relationships and Related Transactions, and Director Independence, the Registrant has entered into a consulting agreement with Neil Blosch providing for monthly compensation through the expiration of the agreement on September 30, 2013 and the payment of an incentive bonus.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Ultra Sun Related Party Transactions

In connection with the Reorganization, the Registrant amended and consolidated its outstanding promissory notes having an outstanding balance of principal and accrued interest in the amount of $78,112 as of April 22, 2013.  The Registrant issued new convertible promissory notes to the holders in exchange for their old notes which included the accrued and unpaid interest on the old notes through April 22, 2013 in the principal balance of the new notes.  In addition, the notes were amended to extend the maturity date from December 31, 2013 to May 31, 2016, provide that the principal (but not the interest) of the new notes is convertible into shares of the Registrant’s common stock at the rate 4.25% of the then issued and outstanding shares of the Registrant’s common stock for each $10,000 in principal converted, provide that the notes may not be prepaid, and make other changes set forth in the new notes.  No payments were made by the Registrant or the note holders in connection with the amendment and consolidation of the old notes.  In connection with the Reorganization, the note holders of the Registrant sold convertible promissory notes having an aggregate principal balance of $68,112 as of April 22, 2013 to certain stockholders of Wild Earth in private transactions. 
 
 
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In connection with the closing of the Reorganization, the Registrant entered into a consulting agreement with Neil Blosch, the former president of the Registrant, pursuant to which he will continue to manage the tanning salon operations and will assist the Registrant in selling the tanning salon prior to the expiration of the tanning salon lease on September 30, 2013.  The consulting agreement is for term of approximately two and half months from July 12 through September 30, 2013; provided, that the agreement will automatically terminate on the date the tanning salon is sold.  The consulting agreement provides for the payment of a consulting fee in the amount of $2,000 per month together with an incentive bonus payable if and when the tanning salon is sold.  The consulting agreement provides that upon the sale of the tanning salon, the proceeds from such sale shall be applied first to pay Mr. Blosch an incentive bonus in the amount of $50,000; second to hold for the benefit of the Registrant the amount of any net loss incurred by the tanning salon (that is, operating costs the tanning salon was not able to pay from its income in its ordinary course of business) during the period from April 1, 2013 through the date of sale; third to pay the promissory note dated July 12, 2013 to Mr. Blosch and two former stockholders of the Registrant in the principal amount of $7,100; and fourth to pay 50% of the remaining sales proceeds (up to a maximum of an additional $25,000) to Mr. Blosch as an additional incentive bonus.  In the event the sales proceeds from the tanning salon are not adequate to pay the amounts listed above, the proceeds shall be applied in the order of priority set forth above until they have been exhausted.

Wild Earth Related Party Transactions

At May 31, 2013, Wild Earth was indebted to an officer / stockholders in the amount of $7,250 for accounting and consulting services provided to Wild Earth.

At May 31, 2013, Wild Earth was indebted to David Tobias, president of the Registrant, for short term advances.

Policies and Procedures for Related-Party Transactions
None.

Promoters
None.

LEGAL PROCEEDINGS

The Registrant is not a party to any material legal proceedings, and to our knowledge, no such legal proceedings have been threatened against us.

MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANT’S
COMMON EQUITY AND OTHER STOCKHOLDER MATTERS

The Registrant’s common stock is quoted on the OTC Bulletin Board under the symbol “USUN.”  The Registrant’s common stock has only been quoted on the OTC Bulletin Board since March 2010 and few shares have been traded. There is no active trading market for the Registrant's stock and there can be no assurance that an active or liquid trading market for the Registrant's stock will develop in the future.



 
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Dividends

Holders of Common Stock are entitled to receive dividends as may be declared from time to time by our Board of Directors. We have not paid, nor declared, any cash dividends since our inception and do not intend to declare any such dividends in the foreseeable future. Our ability to pay cash dividends is subject to limitations imposed by Nevada law. Payment of future dividends will be within the discretion of our Board of Directors and will depend on, among other factors, retained earnings, capital requirements, and our operating and financial condition.

Holders of Common Equity
 
As of the date of this Report, there were 7,825,000 issued and outstanding shares of common stock.  As of such date, there were 52 holders of record of the Registrant’s common stock as reported by our transfer agent. In computing the number of holders of record, each broker-dealer and clearing corporation holding shares on behalf of its customers is counted as a single stockholder.

Securities Authorized for Issuance under Equity Compensation Plans
 
As of the date of this Report, we have no compensation plans (including individual compensation arrangements) under which the Registrant’s equity securities are authorized for issuance.

RECENT SALES OF UNREGISTERED SECURITIES

As discussed above, in connection with the Reorganization, we issued 6,500,000 shares of our common stock to the stockholders of Wild Earth Naturals, Inc. in exchange for all issued and outstanding shares of Wild Earth capital stock.

DESCRIPTION OF SECURITIES

As of the date of this Report, our authorized capital stock currently consists of 45,000,000 shares of common stock, par value $0.001 per share, of which 7,825,000 shares are issued and outstanding, and 5,000,000 shares of preferred stock, par value $0.001 per share, of which no shares are issued or outstanding.  The following statements set forth the material terms of our capital stock; however, reference is made to the more detailed provisions of, and these statements are qualified in their entirety by reference to, the Registrant’s Articles of Incorporation and Bylaws, copies of which are referenced as Exhibits herein, and the provisions of Nevada Revised Statutes.

Common Stock

The holders of common stock are entitled to one vote per share on each matter submitted to a vote at any meeting of stockholders.  Holders of common stock do not have cumulative voting rights, and therefore, a majority of the outstanding shares voting at a meeting of stockholders is able to elect the entire board of directors, and if they do so, minority stockholders would not be able to elect any members to the board of directors.  Our bylaws provide that a majority of our issued and outstanding shares constitutes a quorum for stockholders’ meetings.  Our stockholders have no preemptive rights to acquire additional shares of common stock or other securities.  Our common stock is not subject to redemption and carries no subscription or conversion rights.  In the event of liquidation of our company, the shares of our common stock are entitled to share equally in corporate assets after satisfaction of all liabilities and the payment of any liquidation preferences. The holders of our common stock are entitled to receive such dividends as the board of directors may from time to time declare out of funds legally available for the payment of dividends.  We have not paid any dividends in the past and do not anticipate that we will pay dividends on our common stock in the foreseeable future.  In certain cases, common stockholders may not receive dividends, if and when declared by the board of directors, until we have satisfied our obligations to any preferred stockholders.


 
18

 


Preferred Stock

Our board of directors is empowered, without further action by stockholders, to issue from time to time one or more series of preferred stock, with such designations, rights, preferences and limitations as the board may determine by resolution. The rights, preferences and limitations of separate series of preferred stock may differ with respect to such matters among such series as may be determined by the board, including, without limitation, the rate of dividends, method and nature of payment of dividends, terms of redemption, amounts payable on liquidation, sinking fund provisions (if any), conversion rights (if any) and voting rights.  Certain issuances of preferred stock may have the effect of delaying or preventing a change in control of our company that some stockholders may believe is not in their interest.

Options and Warrants

There are no outstanding stock options or warrants to purchase our securities.

Convertible Promissory Notes
 
There are outstanding convertible promissory notes in the aggregate principal amount of $78,112 as of April 22, 2103.  Such notes bear interest at the rate of 8% per annum and are due and payable on May 31, 2016.  The principal amount of such notes (but not the interest) is convertible into shares of the Registrant’s common stock at the rate of 4.25% of the issued and outstanding shares of the Registrant’s common stock on the date of conversion (and after giving effect to such conversion) for each $10,000 in principal converted.  The notes are not subject to prepayment.  The foregoing summary of the convertible promissory notes is qualified in its entirety by reference to the notes themselves, the form of which is included as an exhibit to this report.

Transfer Agent

Colonial Stock Transfer Co. Inc., 66 Exchange Place, Suite 100, Salt Lake City, Utah 84111, telephone 801-355-5740, serves as the Registrant’s transfer agent and registrar.

INDEMNIFICATION OF DIRECTORS AND OFFICERS

Nevada law authorizes, and our bylaws and articles of incorporation provide for, indemnification of our directors and officers against claims, liabilities, amounts paid in settlement and expenses in a variety of circumstances. Insofar as indemnification for liabilities arising under the Securities Act may be permitted for directors, officers and controlling persons pursuant to the foregoing, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

Item 3.02.                   Unregistered Sales of Equity Securities.

Reference is made to the disclosure made under Items 1.01 and 2.01 of this Report which is incorporated herein by reference.  In connection with the Reorganization, on July 12, 2013, we issued an aggregate of 6,500,000 shares of the Registrant’s common stock to the eight stockholders of Wild Earth in exchange for their shares of Wild Earth common stock pursuant to the Reorganization Agreement.  Each of the stockholders represented that they were accredited investors or were sophisticated investors with sufficient experience in business and financial matters that they were capable of evaluating the merits and risks of an investment in the Registrant and that they could sustain the risk of loss of their entire investment. We have filed or will file a notice on Form D in connection with the reorganization.  No underwriter was involved in the foregoing transaction and the shares were issued by the Registrant directly to the Wild Earth stockholders. The shares were issued without registration under the Securities Act, in reliance on the exemption from such registration requirements provided by Section 4(2) of the Securities Act for transactions not involving any public offering and on Rule 506 of Regulation D. The shares were sold without general advertising or solicitation, the stockholders acknowledged that they were acquiring restricted securities that had not been registered under the Securities Act and that were subject to certain restrictions on resale, and the certificates representing the shares will be imprinted with the usual and customary restricted stock legend.
 
 
 
19

 

Item 5.01.                      Change in Control of Registrant
 
Reference is made to the disclosure made under Items 1.01 and 2.01 of this Report which is incorporated herein by reference.

Item 5.02.                      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Reference is made to the disclosure made under Item 1.01 and Item 2.01 of this Report which is incorporated herein by reference.  For certain biographical and other information regarding the newly appointed officers and directors, see the disclosure under the heading “Directors, Executive Officers and Corporate Governance” under Item 2.01 of this Report which disclosure is incorporated herein by reference.

Item 8.01.                      Other Events

On July 18, 2013, we issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated by reference, announcing the consummation of the Reorganization.

Item 9.01.                      Financial Statements and Exhibits.

(a)
Financial statements of businesses acquired.

The following financial statements are included in this report, immediately following the signature page:

 
Audited Financial Statements of Wild Earth Naturals, Inc. as of May 31, 2013 and for the period from April 9, 2013 (inception) to May 31, 2013.

(b)
Pro forma financial information.

The following pro forma financial information is included in this report, immediately following the signature page:

The Unaudited Pro-forma Condensed Combined Balance Sheets and the Unaudited Pro-forma Condensed Combined Statements of Operations of Ultra Sun Corporation and Wild Earth Naturals, Inc., which gives effect to the acquisition by Ultra Sun Corp. of all issued and outstanding shares of capital stock of Wild Earth Naturals, Inc. as if the transaction had occurred as of May 31, 2013.

(d)  Exhibits
 
Exhibit
Number
 
 
SEC Reference Number
 
 
Title of Document
 
 
Location
             
2.1
 
2
 
Agreement and Plan of Reorganization among Ultra Sun
    Corporation, Ultra Merger Corp. and Wild Earth Naturals, Inc.
    dated as of July 12, 2013*
 
This Filing
2.2
 
 
2
 
Articles of Merger among Ultra Merger Corp. and Wild Earth Naturals dated as of July 12, 2013
 
This Filing
2.3
 
2
 
Plan of Merger among Ultra Merger Corp. and Wild Earth Naturals dated as of July 12, 2013
 
This Filing
3.1
 
3
 
Articles of Incorporation
 
Incorporated by
  Reference**
3.2
 
3
 
Bylaws
 
Incorporated by
  Reference**
10.1
 
10
 
Consulting Agreement dated July 12, 2013 between Ultra Sun
     Corporation and Neil Blosch
 
This Filing
10.2
 
10
 
Promissory Note dated July 12, 2013
 
This Filing
10.3
 
10
 
Form of Convertible Promissory Notes dated as of April 22,
     2013 and Schedule of Notes Beneficially Owned by Officers,
     Directors and Principal Stockholders as of July 15, 2013
 
This Filing
21.1
 
21
 
Schedule of the Registrant’s Subsidiaries
 
This Filing
99.1
 
99
 
Press Release dated July 18, 2013
 
This Filing

*  The exhibits and schedules to the Agreement and Plan of Reorganization are not included in the foregoing exhibit.  The Registrant undertakes to furnish supplementally to the Commission copies of any omitted items on request.
**  Incorporated by reference to Exhibits 3.01 and 3.02 to the Registrant’s registration statement on Form 10-12G, filed with the SEC on January 28, 2009.

 
20

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
ULTRA SUN CORPORATION
Date:  July 18, 2013
 
 
By:   /s/ David Tobias
 
Name:  David Tobias
 
Title:  President


 

 
21

 
 
 
WILD EARTH NATURALS, INC.
(A Development Stage Company)
INDEX TO THE FINANCIAL STATEMENTS
MAY 31, 2013
 

 
Page
Report of Independent Registered Public Accounting Firm
F-1
 
 
Financial Statements
 
 
 
Balance Sheet
F-2
Statement of Operations
F-3
Statement of Stockholders’ Deficit
F-4
Statement of Cash Flows
F-5
Notes to the Financial Statements
F-6

 
 
F-1

 

 
Report of Independent Registered Public Accounting Firm
 


To the Board of Directors
Wild Earth Naturals, Inc.
(A Development Stage Company)


We have audited the accompanying balance sheet of Wild Earth Naturals, Inc. as of May 31, 2013, and the related statement of operations, stockholders' deficit, and cash flows for the period from inception on April 9, 2013 through May 31, 2013.  These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Wild Earth Naturals, Inc. as of May 31, 2013, and the results of its operations and its cash flows for the period from inception on April 19, 2013 through May 31, 2013, in conformity with U.S. generally accepted accounting principles.
 
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  As disclosed in Note 2 to the financial statements, the Company does not generate any revenue and has negative cash flow from operations.  This raises substantial doubt about the Company’s ability to continue as a going concern.  Management’s plans in regard to these matters are also described in Note 2.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ HJ & Associates, LLC

HJ & Associates, LLC
Salt Lake City, Utah
July 3, 2013
 

 
F-2

 

Wild Earth Naturals, Inc.
(A Development Stage Company)
BALANCE SHEET

  May 31,  
 
2013
 
ASSETS
   
     
CURRENT ASSETS
   
Cash
$ 1,488  
Inventory
  1,476  
Prepaid expenses
  2,000  
Total current assets
  4,964  
       
Total assets
$ 4,964  
       
LIABILITIES AND STOCKHOLDERS’ DEFICIT
     
       
CURRENT LIABILITIES
     
Accounts payable
$ 10,312  
Due to shareholders
  16,190  
Total current liabilities
  26,502  
Total liabilities
  26,502  
       
STOCKHOLDERS’ DEFICIT
     
Common stock: 100,000 shares authorized of $0.01 par value, 1,250 shares issued and outstanding
  13  
Deficit accumulated during development stage
  (21,551 )
Total stockholders’ deficit
  (21,538 )
Total liabilities and stockholders’ deficit
$ 4,964  

See accompanying notes to financial statements.
 



 
F-3

 

 
Wild Earth Naturals, Inc. (A Development Stage Company)  
STATEMENT OF OPERATION  
   
Period Ended
May 31, 2012
   
From Inception on April 9, 2013 through
May 31, 2012
 
             
REVENUE
   $ -      $ -  
                 
EXPENSES
               
General and administrative
    21,551       21,551  
Total expenses
    21,551       21,551  
                 
LOSS BEFORE INCOME TAXES
    (21,551 )     (21,551 )
INCOME TAXES
    -       -  
NET LOSS
   $ (21,551 )    $ (21,551 )
                 
Basic loss per common share
   $ (28.93 )        
Weighted average number of common shares outstanding
    745          
                 


See accompanying notes to financial statements.
 



 
F-4

 

Wild Earth Naturals, Inc.
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS’ DEFICIT
 

 
   
Common Stock
   
Deficit Accumulated During Development
   
Total Stockholders’
 
   
Shares
   
Amount
   
Stage
   
Deficit
 
 
Shares issued for cash at incorporation, April 9, 2013
    1,250     $ 13     $ -     $ 13  
                                 
Net loss for the period ending May 31, 2013
    -       -       (21,551 )     (21,551 )
 
Balance, May 31, 2013
    1,250     $ 13     $ (21,551 )   $ (21,538 )
                                 
                                 

 
See accompanying notes to financial statements.
 



 
F-5

 

Wild Earth Naturals, Inc.
(A Development Stage Company)
 
STATEMENT OF CASH FLOWS
 
             
   
Period Ended
May 31, 2012
   
From Inception on April 9, 2013 through
May 31, 2012
 
Cash Flows from Operating Activities:
           
Net Loss
  $ (21,551 )   $ (21,551 )
Adjustments to reconcile net loss to net cash used in operating activities
    -       -  
Change in operating assets and liabilities:
               
Inventory
    (1,476 )     (1,476 )
Prepaid assets
    (2,000 )     (2,000 )
Accounts payable
    10,312       10,312  
Net Cash Used in Operating Activities
    (14,715 )     (14,715 )
                 
Cash Flows from Investing Activities
    -       -  
                 
Cash Flows from Financing Activities:
               
Proceeds from stock issued for cash
    13       13  
Proceeds from shareholders
    16,190       16,190  
Net Cash Used in Financing Activities
    16,203       16,203  
                 
Net Increase in Cash
    1,488       1,488  
Cash at the Beginning of Period
    -       -  
Cash at the End of Period
  $ 1,488     $ 1,488  
                 
Cash Paid For:
               
Interest
  $ -     $ -  
Taxes
  $ -     $ -  
                 
                 
                 

See accompanying notes to financial statements.
 


 
F-6

 
Wild Earth Naturals Inc.
(A Development Stage Company)
Notes to Financial Statements
Period Ended May 31, 2013



NOTE 1.  Basis of Presentation and Organization

Organization and Business

Wild Earth Naturals Inc. ("the Company"), a Nevada Corporation operating in Mesquite, Nevada, was incorporated on April 9, 2013.  The Company is in the business of developing, manufacturing, and selling plant-derived lotions, creams, and other formulations for human consumption.  The Company's market will include direct selling to retailers and consumers, and also to other companies under terms of licensing rights to product formulas.

Development Stage Activities and Operations

The Company has been in its initial stages of formation and for the period ended May 31, 2013 and had no revenues. A development stage activity as one in which all efforts are devoted substantially to establishing a new business and even if planned principal operations have commenced, revenues are insignificant.
 
Basis of Presentation and Going Concern

The Company has elected a December 31 year end.  The Company's financial statements are prepared using the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America and have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The Company has sustained an operating loss, with no revenues, for the current period which covers its inception (April 9, 2013) to the period ended May 31, 2013.  The Company has used working capital mostly obtained from loans in funding its operations.  At May 31, 2013 current liabilities exceeded current assets by approximately $21,500, and the Company has an accumulated deficit amounting to approximately $21,500.  This raises substantial doubt about the Company’s ability to continue as a going concern.

In view of these matters, the continuation of the Company's operations are dependent on funds advanced by its management, the development of products, markets, and revenues, and the raising of capital through the sale of its equity instruments or issuance of debentures. While management believes that its business model will be successful and should generate sufficient revenue to fund the Company's future operations, no assurances can be made that the marketing of the Company's products will be successful or that the Company will be able to raise capital through other sources enabling it to continue funding operations. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or liabilities that might be necessary should the Company be unable to continue as a going concern.

 

 
F-7

 
Wild Earth Naturals Inc.
(A Development Stage Company)
Notes to Financial Statements
Period Ended May 31, 2013




 
NOTE 2.  Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.

Cash Equivalents

For purposes of the statements of cash flows, the Company considers cash equivalents to include highly liquid investments with original maturities of three months or less.  As of May 31, 2013 the Company has no cash equivalents.

Inventory

The Company accounts for its inventory under the first-in-first-out (“FIFO”) method.  Inventories are stated at the lower of cost or market.  At May 31, 2013, the Company had raw materials inventory of $1,476, and $0 and $0 in work-in-process and finished goods inventory, respectively.

Property and equipment

Property and equipment are stated at cost.  Major renewals and improvements are charged to the asset accounts while replacements, maintenance, and repairs that do not improve or extend the lives of the respective assets are expensed.  At the time property and equipment are retired or otherwise disposed of, the asset and related accumulated depreciation accounts are relieved of the applicable amounts. Gains or losses from retirements or sales are credited or charged to income.  The Company has no equipment as of May 31, 2013.

Long-Lived Assets

The Company accounts for its long-lived assets in accordance with ASC 360, "Property, Plant, and Equipment."  ASC 360 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the carrying value of an asset by estimating the future net cash flows expected to result from the asset, including eventual disposition. If the future net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the asset's carrying value and fair value or disposable value. The Company has no long-term assets as of May 31, 2013.

Startup Costs

Under ASC 720, startup costs are not to be capitalized and amortized, but to be expensed as incurred.  The Company expensed $2,560 in startup costs for the period ended May 31, 2013.


 
F-8

 
Wild Earth Naturals Inc.
(A Development Stage Company)
Notes to Financial Statements
Period Ended May 31, 2013



NOTE 2.  Summary of Significant Accounting Policies (continued)

Income taxes

The Company accounts for income taxes under the provisions of ASC 740, “Income Taxes.”  Under ASC 740, deferred tax assets and liabilities are recognized for future tax benefits or consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  A valuation allowance is provided for significant deferred tax assets when it is more likely than not that such assets will not be realized through future operations.

The Company has total net operating loss carryforwards at May 31, 2013 of approximately $21,500 for federal income tax purposes. These net operating losses have generated a deferred tax asset of approximately $4,300 on which a valuation allowance equaling the total tax benefit has been provided due to the uncertain nature of it being realized. Net operating loss carryforwards expire in various years through May 31, 2033 for federal tax purposes.

Net Loss per Share

The Company adopted the provisions of ASC 260, "Earnings Per Share". ASC 260 provides for the calculation of basic and diluted earnings per share.  Basic EPS includes no dilution and is computed by dividing income or loss available to common shareholders by the weighted average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution of securities that could share in the earnings or losses of the entity.  There were no such shares to include in diluted EPS for the period ended May 31, 2013.

Fair Value of Financial Instruments

The Company's financial instruments consist of cash and cash equivalents, accounts payable, accrued expenses, and notes payable.  Pursuant to ASC 825, "Financial Instruments," the Company is required to estimate the fair value of all financial instruments at the balance sheet date. The Company considers the carrying values of its financial instruments in the financial statements to approximate their fair values.

Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows.  Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.



 
F-9

 
Wild Earth Naturals Inc.
(A Development Stage Company)
Notes to Financial Statements
Period Ended May 31, 2013




 
NOTE 3.  Material Agreement

On May 24, 2013 the Company entered into a non-binding letter of intent with a publicly traded OTCBB company (“Pubco”) providing for the acquisition of the Company by Pubco in a tax free reorganization in exchange for shares of Pubco common stock.  The letter of intent contemplates that following completion of the reorganization the Company would be a wholly-owned subsidiary of Pubco, the stockholders of the Company would own a controlling interest in Pubco, and the Company would designate persons to serve as the new officers and directors of Pubco.  The letter of intent also contemplates that the Company would be responsible for the operating expenses of Pubco from and after April 1, 2013.  Consummation of the reorganization is subject to several conditions including the negotiation and execution of definitive agreements, the approval of the reorganization by the directors and stockholders of the parties in the manner required by law, and other conditions set forth in the letter of intent.  The letter of intent may be terminated by either party upon ten days’ notice to the other if it is not satisfied with its due diligence investigation of the other party or if the closing of the reorganization has not occurred within 45 days from the date of the letter of intent.  There can be no assurance that the reorganization will be consummated or that, if consummated, the terms will not differ from those set forth in the letter of intent.


NOTE 4. Long-Term Debt

The Company has no long-term debt as of May 31, 2013.


NOTE 5. Related Party Transactions

As of May 31, 2013, the Company owed its shareholders $7,250 for accounting and consulting services.  This amount is not treated as wages but as subcontracted services in their capacity as shareholders and outside contractors, instead of as employees.  Per verbal agreement between the parties, the amount may be settled either in stock or in cash.

As of May 31, 2013 the Company owed $8,940 for short term advances from the Company's President.

These liabilities do not incur interest charges and are expected to be repaid in the subsequent period. Interest charged to operations on this indebtedness therefore totals $0 for the period ended May 31, 2013.


NOTE 6. Shareholders' Deficit

Common Stock

On April 30, 2013, the Company issued 1,250 shares of its common stock to its two principal officers in exchange for cash.  There have been no other issuances of the Company's common stock through May 31, 2013.



 
F-10

 
Wild Earth Naturals Inc.
(A Development Stage Company)
Notes to Financial Statements
Period Ended May 31, 2013


 
 
NOTE 7. Income Taxes

Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences.  Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Net deferred tax liabilities consist of the following components as of May 31, 2013:

   
2013
 
Deferred tax assets:
     
NOL carryover
  $ 4,300  
         
Deferred tax liabilities:
    -  
         
Valuation allowance
    (4,300 )
         
Net deferred tax asset
  $ -  

The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the period ended May 31, 2013 due to the following:

   
2013
 
       
Book income
  $ 4,300  
Meals and entertainment
    -  
Valuation allowance
    (4,300 )
         
    $ -  

At May 31, 2013, the Company had net operating loss carryforwards of approximately $21,500 that may be offset against future taxable income from fiscal year 2014 through 2033.  No tax benefit has been reported in the May 31, 2013 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount.

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations.  Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years.



 
F-11

 
Wild Earth Naturals Inc.
(A Development Stage Company)
Notes to Financial Statements
Period Ended May 31, 2013



 
NOTE 8. Commitments and Contingencies

Operating Leases

The Company expects to locate its offices in Mesquite, Nevada. The Company had no rent expense for period ended May 31, 2013. During the period ended May 31, 2013, the Company used the office of its President, of which the value of the space used was taken into consideration with costs accrued for services (see Note 5).


NOTE 9. Subsequent Events

The Company has evaluated subsequent events pursuant to ASC Topic 855 from the balance sheet date through the date the financial statements were issued, and determined there are no events to disclose.

 

 
F-12

 
 
 
ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC


The following unaudited proforma condensed combined balance sheet aggregates the balance sheet of ULTRA SUN CORPORATION (“PARENT”) as of March 31, 2013, the balance sheet of WILD EARTH NATURALS, INC as of May 31, 2013 (“SUBSIDIARY”), accounting for the transaction as a reorganization with the issuance of shares of the PARENT for 100% of the stock of the SUBSIDIARY, and using the assumptions described in the following notes, giving effect to the transaction, as if the transaction had occurred as of May 31, 2013. The transaction was completed July 12, 2013.

The following unaudited proforma condensed combined statement of operations reflects the results of operations of ULTRA SUN CORPORATION for three months ended March 31, 2013 and the twelve month period ended December 31, 2012, the results of operations of WILD EARTH NATURALS, INC for the period from inception on April 9, 2013 through May 31, 2013 and as if the transaction had occurred as of May 31, 2013.

The proforma condensed combined financial statements should be read in conjunction with the separate financial statements and related notes thereto of ULTRA SUN CORPORATION and the consolidated financial statements of its Subsidiary, WILD EARTH NATURALS, INC. These proforma condensed combined financial statements are not necessarily indicative of the combined financial position, had the acquisition occurred on the date  indicated above, or the combined results of operations which might have existed for the periods indicated or the results of operations as they may be in the future.

 
F-13

 
 

 

 
ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC

UNAUDITED PROFORMA CONDENSED COMBINED BALANCE SHEET

                         
   
Ultra Sun
Corp
As of March 31,
2013
   
Wild Earth Naturals Inc.
As of May 31,
2013
   
Proforma
Increase
(Decrease)
2011
   
Proforma
Combined
As of May 31,
2013
 
 
 
 
 
CURRENT ASSETS:
                       
Cash
  $ 11,910     $ 1,488     $ -     $ 13,398  
Inventories
    572       1,476       -       2,048  
Prepaid Expenses
    -       2,000       -       2,000  
                                 
Total Current Assets
    12,482       4,964       -       17,446  
                                 
PROPERTY AND EQUIPMENT ,
                               
   net accumulated depreciation
    3,647       -       -       3,647  
                                 
OTHER ASSETS:
                               
Deposits
    2,728       -       -       2,728  
                                 
Total Other Assets
    2,728       -       -       2,728  
                                 
      Total Assets
  $ 18,857     $ 4,964     $ -     $ 23,821  

See Notes To Unaudited Proforma Condensed Combined Financial Statements.


 
F-14


 
 

 
 

ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC

UNAUDITED PROFORMA CONDENSED COMBINED BALANCE SHEET

                             
   
Ultra Sun
Corp
As of March 31,
2013
   
Wild Earth Naturals Inc.
As of May 31,
2013
       
Proforma
Increase
(Decrease)
2013
   
Proforma
Combined
As of May 31,
2013
 
     
     
     
     
CURRENT LIABILITIES:
                           
Accounts Payable & Accrued Expenses
  $ 23,475     $ 10,312         $ -     $ 33,787  
Notes Payable – Current
    18,000       -           -       18,000  
    Related-Party Note Payable - Current
    42,500       -           -       42,500  
    Other Accrued Liabilities
    756       -           -       756  
    Accrued Interest
    17,243                           17,243  
    Shareholder Advances
    -       16,190           -       16,190  
                                     
Total Current Liabilities
    101,974       26,502           -       128,476  
                                     
Total Liabilities
    101,974       26,502           -       128,476  
                                     
STOCKHOLDERS’ EQUITY:
                                   
Common Stock
    1,325       13   [A     6,487       7,825  
                                     
Additional Paid-in Capital
    239,066       -   [A     (6,487 )     -  
                  [B     (232,579     -  
Retained Earnings
    (323,508 )     (21,551 ) [B     232,579       (112,480 )
                          -       -  
Total Stockholders’ Equity
    (83,117 )     (21,538 )         -       (104,655 )
                                     
Total Liabilities and Stockholders’ Equity
  $ 18,857     $ 4,964         $ -     $ 23,821  

See Notes To Unaudited Proforma Condensed Combined Financial Statements.

F-15


 
 

 

ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC

UNAUDITED PROFORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

                         
   
Ultra Sun
Corp
For the Period
Ended March 31, 2013
   
Wild Earth Naturals Inc.
For the Period
From Inception
on April 9, 2013
to May 31, 2013
   
Proforma
Increase
(Decrease)
For the Period
Ended
May 31, 2013
   
Proforma
Combined
For the
Period
Ended
May 31, 2013
 
 
 
 
 
NET SALES
  $ 52,300     $ -     $ -     $ 52,300  
                                 
COST OF GOODS SOLD
    6,381       -       -       6,381  
                                 
GROSS PROFIT
    45,919       -               45,919  
                                 
OPERATING EXPENSES:
                               
General and Administrative  Expenses
    49,853       21,551       -       71,404  
                                 
Total Operating Expense
    49,853       21,551       -       71,404  
                                 
INCOME FROM OPERATIONS
    (3,934 )     (21,551 )     -       (25,485 )
                                 
OTHER INCOME (EXPENSE)
                               
Interest (Expense)
    (1,293 )     -       -       (1,293 )
              -       -          
Total Other Income (Expense)
    (1,293 )     -               (1,293 )
                                 
INCOME BEFORE INCOME TAXES
    (5,227 )     (21,551 )     -       (26,778 )
                                 
INCOME TAX EXPENSE
    -       -       -       -  
                                 
                                 
NET INCOME (LOSS)
  $ (5,227 )   $ (21,551 )     -     $ (26,778 )
                                 
OTHER COMPREHENSIVE INCOME
  $ (5,227 )   $ (21,551 )     -     $ (26,778 )
                                 
BASIC EARNINGS PER SHARE
    -       -             $ (0.003 )
                                 
PROFORMA COMMON SHARES OUTSTANDING
                            7,825,000  

See Notes To Unaudited Proforma Condensed Combined Financial Statements.


F-16


 
 

 

ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC

UNAUDITED PROFORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

                     
           
Proforma
   
Proforma
 
   
Ultra Sun
Corp
     
Increase
(Decrease)
   
Combined
 
   
For the Year
Ended
     
For the Year
Ended
   
For the Year
Ended
 
   
December 31,
2012
     
December 31,
2012
   
December 31,
2012
 
NET SALES
  $ 152,375       $ -     $ 152,375  
                           
COST OF GOODS SOLD
    14,386         -       14,386  
                           
GROSS PROFIT
    137,989         -       137,989  
                           
OPERATING EXPENSES:
                         
General and Administrative Expenses
    177,004         -       177,004  
                           
Total Operating Expense
    177,004         -       177,004  
                           
INCOME FROM OPERATIONS
    (39,015       -       (39,015 )
                           
OTHER INCOME (EXPENSE)
                         
Interest (Expense)
    (5,094 )       -       (5,094 )
                           
Total Other Income (Expense)
    (5,094       -       (5,094
                           
INCOME BEFORE INCOME TAXES
    (44,109 )       -       (44,109 )
                           
INCOME TAX EXPENSE
    -         -       -  
                           
                           
NET INCOME (LOSS)
  $ (44,109 )     $ -     $ (44,109 )
                           
OTHER COMPREHENSIVE INCOME
  $ (44,109 )     $ -     $ (44,109 )
                           
BASIC EARNINGS PER SHARE
  $ (0.034             $ (0.034 )
                           
PROFORMA COMMON SHARES  OUTSTANDING
    1,311,233                 1,311,233  

See Notes To Unaudited Proforma Condensed Combined Financial Statements.

 
F-17

 
 

 

ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC
 
NOTES TO UNAUDITED PROFORMA CONDENSED COMBINED FINANCIAL STATEMENTS

NOTE 1 – ULTRA SUN CORPORATION

ULTRA SUN CORPORATION, (“ULTRA SUN”) was incorporated under the laws of the State of Nevada on November 5, 2004. The Company’s previous operations were in operating a tanning salon business.  Currently the Company is planning to sell its tanning salon business and to conduct all business through its subsidiary Wild Earth Naturals Inc.

Wild Earth Naturals Inc., (“Wild Earth Sub”), a wholly owned subsidiary of ULTRA SUN CORPORATION, was incorporated under the laws of the State of Nevada on April 9, 2013 for the purpose of operating an herbal products’ business.

NOTE 2 – PROFORMA ADJUSTMENTS

On July 12, 2013, Ultra Sun Corporation, a Nevada corporation (the “Company” or the “Registrant”), Ultra Merger Corp., a Nevada corporation (“Merger Corp.”) and Wild Earth Naturals, Inc., a Nevada corporation (“Wild Earth”) entered into an Agreement and Plan of Reorganization dated as of July 12, 2013 (the “ Reorganization Agreement”) pursuant to which the Company formed Merger Corp. as a new, wholly-owned subsidiary of the Company, Merger Corp. was merged into Wild Earth with Wild Earth continuing as the surviving corporation, and the issued and outstanding shares of capital stock of Wild Earth were converted into 6,500,000 shares of the Company’s common stock (the “Reorganization”). Upon the completion of the Reorganization, Wild Earth became a wholly owned subsidiary of the Company and the Company had a total of 7,825,000 shares of common stock outstanding of which 6,500,000 or 83.1% had been issued to the Wild Earth stockholders.  As a result, the Reorganization resulted in a change in control of the Company.

Proforma adjustments on the attached financial statements include the following:

[A] To record the acquisition of a 100% interest in the SUBSIDIARY by the PARENT through the issuance and conversion of 6,500,000 shares of the Company’s common stock by shareholders in exchange for the 100,000 shares of Wild Earth Naturals, Inc. common stock, representing all the common stock of Wild Earth Naturals, Inc. and thus increasing the Company’s common shares outstanding to 7,825,000.

[B] To record the elimination of the accumulated deficit of PARENT prior to the date of the acquisition to the extent that there is paid in capital to absorb such accumulated deficit. The ownership interests of the former owners of SUBSIDIARY in the combined enterprise will be greater than the ongoing shareholders of PARENT and, accordingly, the management of SUBSIDIARY will assume operating control of the combined enterprise.  Consequently, the acquisition is accounted for as the recapitalization of SUBSIDIARY, wherein SUBSIDIARY purchased the assets of PARENT and accounted for the transaction as a “Reverse Merger” for accounting purposes.



F-18


 
 

 

 
ULTRA SUN CORPORATION,
AND WILD EARTH NATURALS, INC

NOTES TO UNAUDITED PROFORMA CONDENSED COMBINED FINANCIAL STATEMENTS

NOTE 3 – PROFORMA EARNINGS (LOSS) PER SHARE

The proforma earnings (loss) per share is computed based on the weighted average number of common shares  outstanding during the period plus the estimated shares issued in the acquisition had the acquisition occurred at the beginning of the periods presented (not in thousands).

   
For the Period
Ended
May 31,
2013
   
For the Year Ended
December 31,
2012
 
             
Weighted average number of Common Shares outstanding
    1,325,000       1,311,233  
                 
Shares issued in acquisition
    6,500,000       1,311,233  
                 
Proforma weighted average number of common shares outstanding during the period used in income per share after acquisition (denominator)
    7,825,000       1,311,233  

 
F-19
 

 
 

 




Exhibit 2.1
AGREEMENT AND PLAN OF REORGANIZATION

THIS AGREEMENT AND PLAN OF REORGANIZATION (this “Agreement”) is made and entered into as of the 12th day of July, 2013, by and among Ultra Sun Corporation, a Nevada corporation (“Ultra Sun”); Ultra Merger Co., a wholly owned subsidiary of Ultra Sun formed or to be formed under the laws of Nevada (“Merger Co”); and Wild Earth Naturals, Inc., a Nevada corporation (“Wild Earth”); based on the following:
 
Recitals

The parties desire to enter into this agreement to set forth the terms and conditions of the corporate reorganization pursuant to which Merger Co. will be merged with and into Wild Earth, Wild Earth will be the surviving entity, and the issued and outstanding shares of capital stock of Wild Earth will be converted into shares of common stock of Ultra Sun.  The merger of Merger Co. with and into Wild Earth and the issuance of shares of Ultra Sun common stock are for the purpose of effecting a tax-free reorganization pursuant to Section 368(a)(2)(E) of the Internal Revenue Code of 1986, as amended (the “Code”).
 
Agreement

NOW, THEREFORE, in consideration of the mutual covenants to be performed and benefits to be received under this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, Ultra Sun, Merger Co. and Wild Earth agree as follows:
 
ARTICLE I

MERGER

1.01            The Merger .                      At the Effective Time (as defined herein) and subject to and upon the terms and conditions of this Agreement and in accordance with the Nevada Revised StatutesDGCL, Merger Co. shall be merged with and into Wild Earth and the separate corporate existence of Merger Co. shall cease.  Wild Earth shall continue as the surviving corporation (sometimes referred to herein as the “Surviving CorporationAbacus Surviving Corporation! “) in the Merger, and as of the Effective Time shall be a wholly owned subsidiary of Ultra Sun.  In connection with the Merger, the issued and outstanding shares of Wild Earth common stock shall be converted into shares of Ultra Sun common stock in the manner provided herein.

1.02.   The Closing; Effective Time .

(a)           The closing of the Merger (the “ClosingClosing  “) shall take place (i) at a mutually agreeable time and place within five business days following the date on which the last to be satisfied or waived of the conditions set forth in Articles IV and V (other

 
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than those conditions that by their nature are to be satisfied at the Closing) shall be satisfied or waived in accordance with this Agreement (the “Closing DateClosing Date “).
 
(b)           On the Closing Date, Ultra Sun, Merger Co. and Wild Earth shall cause articles of merger with respect to the Merger to be properly executed, and filed with the Secretary of State of the State of Nevada.  The Merger shall become effective at such time as the articles of merger shall be duly filed with the Secretary of State of Nevada, or at such later time reflected in such articles of merger as shall be agreed upon by Ultra Sun and Wild Earth (the time that the Merger becomes effective, the “Effective TimeEffective Time “).

1.03.   Subsequent Actions .  If, at any time after the Effective Time, the Surviving CorporationSurviving Corporation shall consider or be advised that any deeds, bills of sale, assignments, assurances or any other actions or things are necessary or desirable to continue in, vest, perfect or confirm of record or otherwise the Surviving Corporation’s right, title or interest in, to or under any of the rights, properties, privileges, franchises or assets of either of its constituent corporations acquired or to be acquired by the Surviving Corporation as a result of, or in connection with, the Merger, or otherwise to carry out the intent of this Agreement, the officers and directors of the Surviving Corporation shall be authorized to execute and deliver, in the name and on behalf of either of the constituent corporations of the Merger, all such deeds, bills of sale, assignments and assurances and to take and do, in the name and on behalf of each of such corporations or otherwise, all such other actions and things as may be necessary or desirable to vest, perfect or confirm any and all right, title and interest in, to and under such rights, properties, privileges, franchises or assets in the Surviving Corporation or otherwise to carry out the intent of this Agreement.

1.04.   Articles of Incorporation; Bylaws; Directors and Officers of the Surviving Corporation .  Unless otherwise agreed to by Ultra Sun and Wild Earth prior to the Closing, at the Effective Time:

(a)           The Articles of Incorporation of Wild Earth (the “Wild Earth Articles of Incorporation”) Certificate of Incorporation! as in effect immediately prior to the Effective Time shall be at and after the Effective Time the articles of incorporation of the Surviving Corporation.

(b)           The Bylaws of Wild Earth as in effect immediately prior to the Effective Time shall be at and after the Effective Time the Bylaws of the Surviving Corporation;

(c)           The officers of Wild Earth immediately prior to the Effective Time shall continue to serve in their respective offices of the Surviving Corporation from and after the Effective Time, until their successors are elected or appointed and qualified or until their resignation or removal; and

 
-2-

 


(d)           The directors of Wild Earth immediately prior to the Effective Time shall be the directors of the Surviving Corporation from and after the Effective Time, until their successors are elected or appointed and qualified or until their resignation or removal.

1.05.   Manner and Basis of Converting Stock .  The manner and basis of converting the shares of capital stock of Wild Earth and Merger Co., by virtue of the Merger and without any action on the part of any holder thereof, shall be as set forth in this Section 1.05 .

(a)   Subject to the terms and conditions of this Agreement, each share of Wild Earth Common Stock issued and outstanding immediately prior to the Effective Time and all rights in respect thereof, shall at the Effective Time, without any action on the part of any holder thereof, forthwith cease to exist and be converted into the right to receive sixty-five (65) shares of Ultra Sun common stock, par value $0.001 (the “Ultra Sun Shares”), for an aggregate of Six Million Five Hundred Thousand (6,500,000) Ultra Sun Shares being issued to the Wild Earth shareholders as a result of the Merger; provided, that any “Dissenting Shares” of Wild Earth shall receive payment from Wild Earth in lieu of such shares of Ultra Sun Common Stock in accordance with the provisions of the Nevada Revised Statutes.  Dissenting Shares means any shares of Wild Earth for which the holder thereof has exercised his or her dissenter’s rights under the Nevada Revised Statutes.

 Exchange Ratio  (b)  Except as otherwise provided herein, commencing immediately after the Effective Time, each certificate which, immediately prior to the Effective Time, represented issued and outstanding shares of Wild Earth common stock shall evidence the right to receive the number of whole shares of Ultra Sun common stock on the basis set forth in subparagraph (a) above.  Upon the surrender by the holders of Wild Earth common stock to Ultra Sun’s transfer agent and registrar of their Wild Earth stock certificates, together with the investment representation letter described in Section 6.05(a) and all other documents and materials reasonably required by such transfer agent to be delivered in connection therewith, the holders of the Wild Earth common stock shall be entitled to receive a certificate or certificates representing the number of whole shares of Ultra Sun common stock to which they are entitled.  No scrip or fractional share certificates for Ultra Sun common stock will be issued and any fractional shares shall be rounded to the nearest whole share.
 
(c)  At the Effective Time, each share of common stock of Merger Co. issued and outstanding immediately prior to the Effective Time, and all rights in respect thereof, shall, without any action on the part of Ultra Sun, forthwith cease to exist and be converted into one validly issued, fully paid and nonassessable share of Wild Earth common stock.

(d)  If between the date of this Agreement and the Effective Time, the outstanding shares of Ultra Sun common stock or Wild Earth common stock shall be changed into a different number of shares (in compliance with the terms of this Agreement) by reason of any stock split, combination of shares, or if any dividend payable in stock shall be declared thereon with a record date within such period, the exchange ratio shall be appropriately adjusted to provide the holders of Wild Earth Shares the same economic effect as contemplated by this Agreement prior to such event.

 
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1.06            Closing Events .

(a)   Ultra Sun Deliveries .  Subject to fulfillment or waiver of the conditions set forth in Article V , Ultra Sun shall deliver to Wild Earth at Closing all the following:

    (i)  Certificates of good standing from the Nevada Secretary of State, issued as of a date within five days prior to the Closing Date, certifying that Ultra Sun and Merger Co. are each in good standing as corporations in the State of Nevada;

    (ii)  Copies of the resolutions of Ultra Sun’s board of directors authorizing the execution and performance of this Agreement and the contemplated transactions, certified by the secretary or an assistant secretary of Ultra Sun as of the Closing Date;

    (iii) The certificate contemplated by Section 4.01 , duly executed by the president of Ultra Sun;

    (iv) The certificate contemplated by Section 4.02 , dated the Closing Date, duly executed by the president of Ultra Sun;

    (v)  Irrevocable transfer instructions to Ultra Sun’s transfer agent and registrar irrevocably instructing it to issue the Ultra Sun Shares to the Wild Earth Shareholders;

    (vi) Bank signature cards, duly executed by the officers of Ultra Sun, giving the new president and secretary of Ultra Sun full authority to manage all bank accounts of Ultra Sun, including the right to sign checks drawn on such accounts; and

    (vii) Copies of the resolutions of Ultra Sun’s board of directors appointing the persons designated by Wild Earth as the new officers and directors of Ultra Sun.

 
In addition to the above deliveries, Ultra Sun shall take all steps and actions as Wild Earth may reasonably request or as may otherwise be reasonably necessary to consummate the transactions contemplated hereby.

(b)   Wild Earth’s Deliveries .  Subject to fulfillment or waiver of the conditions set forth in Article IV , Wild Earth shall deliver to Ultra Sun at Closing all the following:

    (i) A certificate of good standing from the secretary of state of Nevada, issued as of a date within five days prior to the Closing Date certifying that Wild Earth is in good standing as a corporation in the State of Nevada;
 
    (ii) Copies of the resolutions of Wild Earth’s board of directors and shareholders authorizing the execution and performance of this Agreement and the

 
-4-

 


contemplated transactions, certified by the secretary or an assistant secretary of Wild Earth as of the Closing Date;

    (iii)  The certificate contemplated by Section 5.01 , signed by the president of Wild Earth;

    (iv) The certificate contemplated by Section 5.02 , dated the Closing Date, and signed by the president of Wild Earth; and

    (v)  Investment representation letters in the form attached hereto as Exhibit “A” signed by each of the Wild Earth stockholders.

In addition to the above deliveries, Wild Earth shall take all steps and actions as Ultra Sun may reasonably request or as may otherwise be reasonably necessary to consummate the transactions contemplated hereby.

1.07            Effect of Merger .  On the Effective Date of the merger, Wild Earth and Merger Co. shall cease to exist separately, and Merger Co. shall be merged with and into Wild Earth, the Surviving Corporation, in accordance with the provisions of this Agreement and the Articles of Merger, and in accordance with the provisions of and with the effect provided in the corporation laws of the State of Nevada.  Wild Earth, as the Surviving Corporation, shall possess all the rights, privileges, franchises, and trust and fiduciary duties, powers, and obligations, of a private as well as of a public nature, and be subject to all the restrictions, obligations, and duties of each of Wild Earth and Merger Co.; all property, real, personal, and mixed, and all debts due to either Wild Earth or Merger Co. on whatever account, and all other things belonging to each of Wild Earth and Merger Co. shall be vested in Wild Earth; all property, rights, privileges, powers, and franchises, and all and every other interest shall be thereafter the property of Wild Earth as they were of Wild Earth and Merger Co.; the title to any real estate, whether vested by deed or otherwise, in either Wild Earth or Merger Co. shall not revert or be in any way impaired by reason of the merger; provided, however, that all rights of creditors and all liens on any property of either Wild Earth or Merger Co. shall be preserved unimpaired, and all debts, liabilities, and duties of Wild Earth and Merger Co. shall thenceforth attach to Wild Earth and may be enforced against it to the same extent as if such debts, liabilities, and duties had been incurred or contracted by Wild Earth.

1.08            Termination

(a)           This Agreement may be terminated by the board of directors of either Ultra Sun or Wild Earth at any time prior to the Closing Date if:

(i)   There shall be any actual or threatened action or proceeding before any court or any governmental body which shall seek to restrain, prohibit, or invalidate the transactions contemplated by this Agreement and which, in the reasonable judgment of such board of directors, made in good faith and based upon the advice of its legal counsel, makes it inadvisable to proceed with the transactions contemplated by this Agreement;
 
 
 
-5-

 

(ii)   Any of the transactions contemplated hereby are disapproved by any regulatory authority whose approval is required to consummate such transactions or in the reasonable judgment of such board of directors, made in good faith and based on the advice of counsel, there is substantial likelihood that any such approval will not be obtained or will be obtained only on a condition or conditions which would be unduly burdensome, making it inadvisable to proceed with the exchange; or

(iii)   If the Effective Time shall not have occurred by the close of business on July 8, 2013 (the “Termination Date“); provided, however, that the right to terminate this Agreement under this Section 1.08(a)(iii) shall not be available to any Party whose failure to fulfill any obligation under this Agreement has been the cause of, or resulted in, the failure of the Effective Time to occur on or before the Termination Date.

 
In the event of termination pursuant to this paragraph (a) of Section 1.08 , no obligation, right, or liability shall arise hereunder, and each party shall bear all of the expenses incurred by it in connection with the negotiation, preparation, and execution of this Agreement.

(b)           This Agreement may be terminated at any time prior to the Closing Date by action of the board of directors of Ultra Sun if (i) Wild Earth shall fail to comply in any material respect with any of its covenants or agreements contained in this Agreement or if any of the representations or warranties of Wild Earth contained herein shall be inaccurate in any material respect, or (ii) there has been any material adverse change in the business or financial condition of Wild Earth.  In the event of termination pursuant to this paragraph (b) of this S ection 1.08 , no obligation, right or liability shall arise hereunder, and each party bear all of the expenses incurred by it in connection with the negotiation, preparation and execution of this Agreement.
 
(c)           This Agreement may be terminated at any time prior to the Closing Date by action of the board of directors of Wild Earth if (i) Ultra Sun shall fail to comply in any material respect with any of its covenants or agreements contained in this Agreement or if any of the representations or warranties of Ultra Sun contained herein shall be inaccurate in any material respect, or (ii) there has been any material adverse change in the business or financial condition of Ultra Sun.  In the event of termination pursuant to this paragraph (c) of this S ection 1.08 , no obligation, right or liability shall arise hereunder, and each party bear all of the expenses incurred by it in connection with the negotiation, preparation and execution of this Agreement.

ARTICLE II
REPRESENTATIONS, COVENANTS, AND WARRANTIES OF ULTRA SUN

Ultra Sun and Merger Co. represent and warrant to Wild Earth that all of the statements contained in this Article II are true as of the date of this Agreement (or, if made as of a specified date, as of such date) except, in each case, as (a) set forth in the Ultra Sun Disclosure Schedules

attached to this Agreement (the “ Ultra Sun Disclosure Schedules ”); or (b) as otherwise provided in this Agreement.  For purposes of the representations and warranties of Ultra Sun and Merger Co. contained in this Article II, disclosure in any section of the Ultra Sun Disclosure Schedules of any facts or circumstances shall be deemed to be an adequate response and disclosure of such facts or circumstances with respect to all representations or warranties by Ultra Sun calling for disclosure of such information, whether or not such disclosure is specifically associated with or purports to respond to one or more or all of such representations or warranties, if it is reasonably apparent on the face of the Disclosure Schedules that such disclosure is applicable.  The inclusion of any information in any section of the Ultra Sun Disclosure Schedules by Ultra Sun and Merger Co. shall not be deemed to be an admission or evidence of materiality of such item, nor shall it establish a standard of materiality for any purpose whatsoever.
 
 
 
-6-

 

       2.01     Organization .

(a)           Ultra Sun is, and will be on the Closing Date, a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada and has and will have the corporate power and is and will be duly authorized, qualified, franchised, and licensed under all applicable laws, regulations, ordinances, and orders of public authorities to own all of its properties and assets and to carry on its business in all material respects as it is now being conducted, and there are no other jurisdictions in which it is not so qualified in which the character and location of the assets owned by it or the nature of the business transacted by it requires qualification, except where failure to do so would not have a material adverse effect on its business, operations, properties, assets or condition.  The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated by this Agreement in accordance with the terms hereof will not, violate any provision of Ultra Sun’s articles of incorporation or bylaws, or other material agreement to which it is a party or by which it is bound.

(b)           Merger Co. will be on the Closing Date, a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada and will have the corporate power and will be duly authorized, qualified, franchised, and licensed under all applicable laws, regulations, ordinances, and orders of public authorities to own all of its properties and assets and to carry on its business in all material respects as it is now being conducted, and there are no other jurisdictions in which it is not so qualified in which the character and location of the assets owned by it or the nature of the business transacted by it requires qualification, except where failure to do so would not have a material adverse effect on its business, operations, properties, assets or condition.  The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated by this Agreement in accordance with the terms hereof will not, violate any provision of Merger Co.’s articles of incorporation or bylaws, or other material agreement to which it is a party or by which it is bound.

2.02            Due Authorization .  Ultra Sun and Merger Co. each has full power and authority to enter into this Agreement and to consummate the transactions contemplated hereby.  The execution, delivery and performance by Ultra Sun and Merger Co. of this Agreement have been duly and validly approved and authorized by the board of directors of Ultra Sun and by the board of directors and sole stockholder of Merger Co. and no other actions or proceedings

 
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on the part of Ultra Sun or Merger Co. are necessary to authorize this Agreement and the transactions contemplated hereby.  This Agreement constitutes the legal, valid and binding obligation of Ultra Sun and Merger Co., enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent transfer, moratorium, reorganization or other laws from time to time in effect which affect creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

2.03            Capitalization .   The authorized capitalization of Ultra Sun consists of 45,000,000 shares of common stock, $0.001 par value, of which 1,300,000 shares are issued and outstanding.  The authorized capitalization of Merger Co. consists of 100,000 shares, $0.001 par value, of which 1,000 shares are issued and outstanding.  All issued and outstanding shares of Ultra Sun and Merger Co. are legally issued, fully paid, and nonassessable and not issued in violation of the preemptive or other right of any person.  There are no dividends or other distributions due or payable with respect to any of the shares of capital stock of Ultra Sun or Merger Co.

2.04.            SEC Reports; Financial Statements .

(a)           Ultra Sun has filed all reports required to be filed by it with the SEC during the preceding three fiscal years, including any amendments or supplements thereto (collectively, including any such forms, reports and documents filed after the date hereof, the “ Ultra Sun SEC Reports Abacus SEC Reports “), and, with respect to the Ultra Sun SEC Reports filed by Ultra Sun after the date hereof and prior to the Closing Date, will deliver or make available to Wild Earth all of its Ultra Sun SEC Reports in the form filed with the SEC.  The Ultra Sun SEC Reports (i) were (and any Ultra Sun SEC Reports filed after the date hereof will be) in all material respects prepared in accordance with the requirements of the Exchange Act and the rules and regulations promulgated thereunder, and (ii) as of their respective filing dates, did not (and any Ultra Sun SEC Reports filed after the date hereof will not) contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.  On the Closing Date, Ultra Sun shall be current in the filing of the Ultra Sun SEC Reports.

(b)           Included in Schedule 2.04 are (i) the audited balance sheets of Ultra Sun as of December 31, 2012 and 2011, and the related statements of operations, changes in stockholders’ equity (deficit), and cash flows for the fiscal years ended December 31, 2012 and 2011, including the notes thereto, and the accompanying report of Anderson Bradshaw PLLC, independent certified public accountants; and (ii) the unaudited balance sheet of Ultra Sun as of March 31, 2013, and the related unaudited statements of operations, changes in stockholders’ equity (deficit), and cash flows for the three month period ended March 31, 2013.

(c)           The financial statements of Ultra Sun delivered pursuant to Section 2.04(b) have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved as explained in the notes to such financial statements.  The Ultra Sun financial statements present fairly, in all material respects, as of their respective dates,
 
 
 
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the financial condition of Ultra Sun.  Ultra Sun did not have, as of the date of any such financial statements, except as and to the extent reflected or reserved against therein, any liabilities or obligations (absolute or contingent) which should be reflected in any financial statement or the notes thereto prepared in accordance with generally accepted accounting principles, and all assets reflected therein present fairly the assets of Ultra Sun in accordance with generally accepted accounting principles.  The statements of operations and cash flows present fairly the financial position and results of operations of Ultra Sun as of their respective dates and for the respective periods covered thereby.

(d)           Ultra Sun has filed all tax returns required to be filed by it from inception to the Closing Date.  Ultra Sun has no material liabilities with respect to the payment of any federal, state, county, local, or other taxes (including any deficiencies, interest, or penalties) accrued for or applicable to the period ended on the date of the most recent balance sheet of Ultra Sun, except to the extent reflected on such balance sheet and adequately provided for therein, which are not yet due and payable.  Ultra Sun has not made any election pursuant to the provisions of any applicable tax laws (other than elections that relate solely to methods of accounting, depreciation, or amortization) that would have a material adverse effect on Ultra Sun, its financial condition, its business as presently conducted or proposed to be conducted, or any of its properties or material assets.  None of such income tax returns has been examined or is currently being examined by the Internal Revenue Service and no deficiency assessment or proposed adjustment of any such return is pending, proposed or contemplated.  There are no tax liens upon any of the assets of Ultra Sun.  There are no outstanding agreements or waivers extending the statutory period of limitation applicable to any tax return of Ultra Sun.

(e)           The books and records, financial and otherwise, of Ultra Sun and Merger Co. are in all material respects complete and correct and have been maintained in accordance with sound business and bookkeeping practices so as to accurately and fairly reflect, in reasonable detail, the transactions and dispositions of the assets of Ultra Sun and Merger Co.  Ultra Sun and Merger Co. maintain a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions have been and are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit the preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals, and appropriate action is taken with respect to any differences.

2.05            Outstanding Convertible Notes, Warrants and Options .  Ultra Sun has outstanding promissory notes in the aggregate principal amount of $78,112.26, together with interest accrued thereon from and after April 22, 2013 (the “Notes”).  The Notes are due and payable on May 31, 2016, are not subject to prepayment and are convertible into shares of Ultra Sun common stock at the rate of 4.25% of the then issued and outstanding shares of Ultra Sun common stock on a fully diluted basis for each $10,000 of principal so converted; provided that interest accrued on the Notes may not be converted to common stock and shall be payable in cash.  The Notes may

 
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be converted in amounts greater or less than $10,000 in which event the above conversion rate shall be applied on a pro rata basis except that in no event shall the Notes be convertible for an amount of Principal less than $2,000 unless the then outstanding Principal balance of the Note is less than $2,000 and the entire outstanding balance is converted.   Any fractional shares issuable as a result of the conversion of the Notes shall be rounded to the nearest whole share.  Except for the Notes, neither Ultra Sun nor Merger Co. has any outstanding stock options, warrants, calls, or commitments of any nature relating to the authorized and unissued shares of capital stock of Ultra Sun or Merger Co.
 
2.06            Information .  The information concerning Ultra Sun and Merger Co. set forth in this Agreement and the schedules delivered by Ultra Sun pursuant hereto is complete and accurate in all material respects and does not contain any untrue statement of a material fact or omit to state a material fact required to make the statements made, in light of the circumstances under which they were made, not misleading.  Ultra Sun and Merger Co. shall cause the schedules delivered by them pursuant hereto and the instruments delivered to Wild Earth hereunder to be updated after the date hereof up to and including the Closing Date.

2.07            Absence of Certain Changes or Events .  Except as set forth in this Agreement or the schedules hereto, since March 31, 2013:

(a)           There has not been (i) any  adverse change in the business, operations, properties, level of inventory, assets, or condition of Ultra Sun or (ii) any damage, destruction, or loss to Ultra Sun (whether or not covered by insurance) adversely affecting the business, operations, properties, assets, or condition of Ultra Sun;

(b)           Neither Ultra Sun nor Merger Co. has (i) amended its articles of incorporation or bylaws; (ii) declared or made, or agreed to declare or make, any payment of dividends or distributions of any assets of any kind whatsoever to stockholders or purchased or redeemed, or agreed to purchase or redeem, any of its capital stock; (iii) waived any rights of value which in the aggregate are extraordinary or material considering the business of Ultra Sun or Merger, as applicable; (iv) made any change in its method of management, operation, or accounting; (v) entered into any other material transactions other than those contemplated by this Agreement; (vi) made any accrual or arrangement for or payment of bonuses or special compensation of any kind or any severance or termination payment to any present or former officer or employee; (vii) increased the rate of compensation payable or to become payable by it to any of its officers or directors or any of its employees; or (viii) established any profit-sharing, bonus, deferred compensation, insurance, pension, retirement, or other employee benefit plan, payment, or arrangement made to, for, or with its officers, directors, or employees;

(c)           Neither Ultra Sun nor Merger Co. has (i) granted or agreed to grant any options, warrants, or other rights for its stocks, bonds, or other corporate securities calling for the issuance thereof; (ii) borrowed or agreed to borrow any funds or incurred, or become subject to, any material obligation or liability (absolute or contingent) except liabilities incurred in the ordinary course of business; (iii) paid any material obligation or liability (absolute or contingent) other than current liabilities reflected in or shown on the most recent Ultra Sun balance sheet and
 
 
 
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current liabilities incurred since that date in the ordinary course of business; (iv) sold or transferred, or agreed to sell or transfer, any of its  assets, properties, or rights or canceled, or agreed to cancel, any debts or claims; (v) made or permitted any amendment or termination of any contract, agreement, or license to which it is a party if such amendment or termination is material, considering the business of Ultra Sun; or (vi) issued, delivered, or agreed to issue or deliver any stock, bonds, or other corporate securities including debentures (whether authorized and unissued or held as treasury stock); and

(d)           To the best knowledge of Ultra Sun and Merger Co., neither of such corporations has become subject to any law or regulation which materially and adversely affects, or in the future would be reasonably expected to adversely affect, the business, operations, properties, assets, or condition of Ultra Sun or Merger Co., as applicable.

2.08            Title and Related Matters .  Except as provided herein or disclosed in the Ultra Sun balance sheet and the notes thereto, Ultra Sun has good and marketable title to all of its properties, inventory, interests in properties, and assets, which are reflected in the most recent Ultra Sun balance sheet or acquired after that date (except properties, interests in properties, and assets sold or otherwise disposed of since such date in the ordinary course of business), free and clear of all mortgages, liens, pledges, charges, or encumbrances, except (i) statutory liens or claims not yet delinquent; and (ii) such imperfections of title and easements as do not, and will not, materially detract from, or interfere with, the present or proposed use of the properties subject thereto or affected thereby or otherwise materially impair present business operations on such properties.  Merger Co. does not own any properties or other assets.

2.09            Litigation and Proceedings .  There are no actions, suits, or administrative or other proceedings pending or threatened by or against Ultra Sun or Merger Co. or adversely affecting Ultra Sun or Merger Co. or their respective properties, at law or in equity, before any court or other governmental agency or instrumentality, domestic or foreign, or before any arbitrator of any kind.  There is no default on its part with respect to any judgment, order, writ, injunction, decree, award, rule, or regulation of any court, arbitrator, or governmental agency or instrumentality.

2.10            Contracts .  Except as included or described in Schedule 2.10 :

(a)           There are no material contracts, agreements, franchises, license agreements, or other commitments to which Ultra Sun is a party by which it or any of the properties of Ultra Sun are bound;

(b)           All contracts, agreements, franchises, license agreements, and other commitments to which Ultra Sun is a party or by which its properties are bound and which are material to the operations or financial condition of Ultra Sun are valid and enforceable by Ultra Sun in all material respects;

(c)           Ultra Sun is not a party to or bound by, and its properties are not subject to, any material contract, agreement, other commitment or instrument; any charter or other corporate restriction; or any judgment, order, writ, injunction, decree, or award which materially

 
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and adversely affects, or in the future may (as far as Ultra Sun can now foresee) materially and adversely affect, the business, operations, properties, assets, or condition of Ultra Sun; and

(d)           Ultra Sun is not a party to any oral or written (i) contract for the employment of any officer, director, or employee which is not terminable on 30 days (or less) notice;  (ii) profit-sharing, bonus, deferred compensation, stock option, severance pay, pension benefit or retirement plan, agreement, or arrangement covered by Title IV of the Employee Retirement Income Security Act, as amended; (iii) agreement, contract, or indenture relating to the borrowing of money; (iv) guarantee of any obligation, other than one on which Ultra Sun is a primary obligor, for the borrowing of money or otherwise, excluding endorsements made for collection and other guarantees of obligations, which, in the aggregate do not exceed $5,000; (v) consulting or other similar contract with an unexpired term of more than one year or providing for payments in excess of $5,000 in the aggregate; (vi) collective bargaining agreement; (vii) agreement with any present or former officer or director of Ultra Sun or any subsidiary; or (viii) contract, agreement, or other commitment involving payments by it of more than $5,000 in the aggregate.

(e)           Merger Co. is not a party to any contract or agreement except this Agreement and the Articles of Merger to be entered into in connection herewith.

2.11            Material Contract Defaults .  Ultra Sun is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or condition of Ultra Sun, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which Ultra Sun has not taken adequate steps to prevent such a default from occurring.

2.12            Intellectual Property .  Except as disclosed on Ultra Sun Disclosure Schedule 2.12 :
 
(a)           All of the Ultra Sun’s material Intellectual Property is either licensed or owned by Ultra Sun, in each case free and clear of all liens other than any right of any third party as owner or licensor or licensee under a contract affecting such Intellectual Property, with royalties as set forth on Ultra Sun Disclosure Schedule 2.12 ;

(b)           None of Ultra Sun’s material Intellectual Property is the subject of any pending or, to the knowledge of Ultra Sun, threatened litigation or claim of infringement;

(c)           Ultra Sun has not granted any license, or agreed to pay or receive any royalty in respect of, any Intellectual Property except as set forth on Ultra Sun Disclosure Schedule 2.12 ;
 
(d)           No material license or royalty agreement to which Ultra Sun is a party is in breach or default by Ultra Sun or, to the knowledge of Ultra Sun, any other party thereto; and no such license or royalty agreement is or has been the subject of any notice of termination given or threatened in writing by any person;

 
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(e)           Ultra Sun has not received any notice contesting its right to use any Intellectual Property except as set forth on Ultra Sun Disclosure Schedule 2.12 ;

(f)           Ultra Sun has not granted any license or agreed to pay or receive any royalty in respect of any material Intellectual Property except as set forth on Ultra Sun Disclosure Schedule 2.12 ; and

(g)           Ultra Sun has not violated the Intellectual Property rights of any third party.

2.13            No Conflict With Other Instruments .  The execution of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in the breach of any term or provision of, or constitute an event of default under, any indenture, mortgage, deed of trust, or other contract, agreement, or instrument to which Ultra Sun or Merger Co. is a party or to which any of their respective properties or operations are subject.

2.14            Compliance With Laws and Regulations .  Ultra Sun and Merger Co. have each complied with all applicable statutes and regulations of any federal, state, or other governmental entity or agency thereof, except to the extent that noncompliance would not materially and adversely affect the business, operations, properties, assets, or condition of Ultra Sun or Merger Co., as applicable, or except to the extent that noncompliance would not result in the occurrence of any material liability for Ultra Sun or Merger Co. To the best knowledge of Ultra Sun and Merger Co., the consummation of the transactions contemplated by this Agreement will comply with all applicable statutes and regulations, subject to the preparation and filing of any forms required by state and federal securities laws.

2.15            Governmental Authorizations .  Ultra Sun and Merger Co. have all licenses, franchises, permits, and other governmental authorizations that are legally required to enable them to conduct their respective businesses in all material respects as conducted on the date of this Agreement.  Except for compliance with federal and state securities and corporation laws, as hereinafter provided, no authorization, approval, consent, or order of, or registration, declaration, or filing with, any court or other governmental body is required in connection with the execution and delivery by Ultra Sun and Merger Co. of this Agreement and the consummation by Ultra Sun and Merger Co. of the transactions contemplated hereby.

2.16            Subsidiaries and Predecessors .  Ultra Sun does not own, beneficially or of record, any equity securities in any other entity except for Merger Co. which is a wholly owned subsidiary formed for the sole purpose of completing the transactions set forth herein.  Ultra Sun does not have a predecessor as that term is defined under generally accepted accounting principles or Regulation S-X promulgated by the Securities and Exchange Commission.
 
2.17           Insurance .  Ultra Sun carries insurance on its insurable properties in such amounts and with such terms of coverage as is customarily carried by companies operating in the same industry and geographical area.

 
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2.18            Environmental .  Ultra Sun is in compliance in all material respects with all applicable federal, state and local laws and regulations governing the environment, public health and safety and employee health and safety (including all provisions of the Occupational Safety and Health Administration (“OSHA”) and no charge, complaint, action, suit, proceeding, hearing, investigation, claim, demand or notice has been filed or commenced against Ultra Sun and, to the knowledge of Ultra Sun, no such charge, complaint, action, suit, proceeding, hearing, investigation, claim, demand or notice is pending or has been threatened.
 
2.19   Employee Relations .  Ultra Sun has complied in respect of its business in all material respects with all applicable laws, rules, and regulations that relate to prices, wages, hours, harassment, disabled access, and discrimination in employment and collective bargaining and to the operation of its business and is not liable for any arrears of wages or any taxes or penalties for failure to comply with any of the foregoing.  Ultra Sun has no outstanding liabilities or obligations with respect to any employee benefit or retirement plan.   Ultra Sun believes that its relationship with its employees is satisfactory.

2.20   Officer, Director and Promoter’s Information .  During the past five (5) years, neither Ultra Sun, Merger Co., nor any of their respective officers, directors or promoters, has been the subject of:

(a)  a bankruptcy petition filed by or against any business of which Ultra Sun or such other person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

(b)  a conviction in a criminal proceeding or a pending criminal proceeding (excluding traffic violations and other minor offenses);

(c)  any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting Ultra Sun or any such other person from involvement in any type of business, securities or banking activities; or

(d) a finding by a court of competent jurisdiction (in a civil action), the SEC, or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.

2.21            Ultra Sun Schedules .  Ultra Sun has delivered to Wild Earth the following schedules, which are collectively referred to as the “Ultra Sun Schedules” and which consist of the following separate schedules dated as of the date of execution of this Agreement, all certified by a duly authorized officer of Ultra Sun as complete, true, and accurate:

(a)           A schedule including copies of the articles of incorporation and bylaws of Ultra Sun and Merger Co. as in effect as of the date of this Agreement;

 
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(b)           A schedule containing copies of resolutions adopted by the board of directors of Ultra Sun and the board of directors and sole stockholder of Merger Co., approving this Agreement and the transactions herein contemplated;

(c)           A schedule setting forth Ultra Sun’s annual report on Form 10-K for the year ended December 31, 2012 and its quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2013, which reports include the financial statements required pursuant to Section 2.04(b) hereof; and

(d)           A schedule setting forth any other information, together with any required copies of documents, required to be disclosed in the Ultra Sun Schedules by Sections 2.01 through 2.20 .

Ultra Sun shall cause the Ultra Sun Schedules and the instruments delivered to Wild Earth hereunder to be updated after the date hereof up to and including the Closing Date.  Such updated Ultra Sun Schedules, certified in the same manner as the original Ultra Sun Schedules, shall be delivered prior to and as a condition precedent to the obligation of Wild Earth to close the transactions contemplated by this Agreement.

ARTICLE III
REPRESENTATIONS, COVENANTS, AND WARRANTIES OF WILD EARTH

Wild Earth represents and warrants to Ultra Sun that all of the statements contained in this Article III are true as of the date of this Agreement (or, if made as of a specified date, as of such date) except, in each case, as (a) set forth in the Wild Earth Disclosure Schedules attached to this Agreement (the “ Wild Earth Disclosure Schedules ”); or (b) as otherwise provided in this Agreement.  For purposes of the representations and warranties of Wild Earth contained in this Article III, disclosure in any section of the Wild Earth Disclosure Schedules of any facts or circumstances shall be deemed to be an adequate response and disclosure of such facts or circumstances with respect to all representations or warranties by Wild Earth calling for disclosure of such information, whether or not such disclosure is specifically associated with or purports to respond to one or more or all of such representations or warranties, if it is reasonably apparent on the face of the Wild Earth Disclosure Schedules that such disclosure is applicable.  The inclusion of any information in any section of the Wild Earth Disclosure Schedules by Wild Earth shall not be deemed to be an admission or evidence of materiality of such item, nor shall it establish a standard of materiality for any purpose whatsoever.

3.01            Organization .  Wild Earth is, and will be on the Closing Date, a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada and has and will have the corporate power and is and will be duly authorized, qualified, franchised, and licensed under all applicable laws, regulations, ordinances, and orders of public authorities to own all of its properties and assets and to carry on its business in all material respects as it is now being conducted, and there are no other jurisdictions in which it is not so qualified in which the character and location of the assets owned by it or the nature of the business transacted by it requires qualification, except where failure to do so would not have a material adverse effect on its
 
 
 
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business, operations, properties, assets or condition.  The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated by this Agreement in accordance with the terms hereof will not, violate any provision of Wild Earth’s articles of incorporation or bylaws, or other material agreement to which it is a party or by which it is bound.
 
3.02            Due Authorization .  Wild Earth has full power and authority to enter into this Agreement and to consummate the transactions contemplated hereby and thereby.  The execution, delivery and performance by Wild Earth of this Agreement have been duly and validly approved and authorized by the board of directors and stockholders of Wild Earth and no other actions or proceedings on the part of Wild Earth are necessary to authorize this Agreement, and the transactions contemplated hereby.  This Agreement constitutes the legal, valid and binding obligation of Wild Earth, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent transfer, moratorium, reorganization or other laws from time to time in effect which affect creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

3.03            Capitalization .  The authorized capitalization of Wild Earth consists of 100,000 shares of common stock, par value $0.01, of which 100,000 shares are issued and outstanding. All issued and outstanding shares of Wild Earth are legally issued, fully paid, and nonassessable and not issued in violation of the preemptive or other right of any person.  There are no dividends or other payments or distributions due or payable with respect to any of the shares of capital stock of Wild Earth.

3.04            Financial Statements .

(a)           Included in Schedule 3.04 are the audited balance sheet of Wild Earth as of May 31, 2013, and the related audited statements of operations, stockholders’ equity, and cash flows for the period from inception on April 9, 2013 through May 31, 2013, together with the notes thereto and the report of HJ Associates, LLC, with respect thereto.

(b)           The financial statements of Wild Earth delivered pursuant to Section 3.04(a) have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved as explained in the notes to such financial statements.  The financial statements of Wild Earth present fairly in all material aspects, as of their respective dates, the financial condition of Wild Earth.  Wild Earth did not, as of the date of any such balance sheets, except as and to the extent reflected or reserved against therein, any liabilities or obligations (absolute or contingent) which should be reflected in any financial statements or the notes thereto prepared in accordance with generally accepted accounting principles, and all assets reflected therein present fairly the assets of Wild Earth, in accordance with generally accepted accounting principles.  The statements of revenue and expenses and cash flows present fairly the financial position and results of operations of Wild Earth as of their respective dates and for the respective periods covered thereby.

 
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(c)           Wild Earth was incorporated on April 9, 2013 and has not been required to file any tax returns to date.  Wild Earth has no material liabilities with respect to the payment of any federal, state, county, local, or other taxes (including any deficiencies, interest, or penalties) accrued for or applicable to the period ended on the date of the balance sheets of Wild Earth, except to the extent reflected on such balance sheet and adequately provided for therein, which are not yet due and payable.  Wild Earth has not made any election pursuant to the provisions of any applicable tax laws (other than elections that relate solely to methods of accounting, depreciation, or amortization) that would have a material adverse effect on Wild Earth, its financial condition, its business as presently conducted or proposed to be conducted, or any of its properties or material assets.  No income tax returns of Wild Earth have been examined or are currently being examined by the Internal Revenue Service and no deficiency assessment or proposed adjustment of any such return is pending, proposed or contemplated.  There are no tax liens upon any of the assets of Wild Earth.  There are no outstanding agreements or waivers extending the statutory period of limitation applicable to any tax return of Wild Earth.

(d)           The books and records, financial and otherwise, of Wild Earth are in all material respects complete and correct and are maintained in accordance with sound business and bookkeeping practices so as to accurately and fairly reflect, in reasonable detail, the transactions and dispositions of the assets of Wild Earth.  Wild Earth maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions have been and are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit the preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals, and appropriate action is taken with respect to any differences.

3.05            Outstanding Warrants and Options .  Wild Earth does not have any outstanding stock options, warrants, calls, or commitments of any nature relating to the authorized and unissued shares of capital stock of Wild Earth.
 
 
3.06            Information .  The information concerning Wild Earth set forth in this Agreement and in the schedules delivered by Wild Earth pursuant hereto is complete and accurate in all material respects and does not contain any untrue statement of a material fact or omit to state a material fact required to make the statements made, in light of the circumstances under which they were made, not misleading.  Wild Earth shall cause the schedules delivered by Wild Earth pursuant hereto to Ultra Sun hereunder to be updated after the date hereof up to and including the Closing Date.

3.07            Absence of Certain Changes or Events .  Except as set forth in this Agreement and the Wild Earth Schedules, since May 31, 2013:

(a)           There has not been (i) any  adverse change in the business, operations, properties, level of inventory, assets, or condition of Wild Earth or (ii) any damage, destruction, or
 
 
 
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loss to Wild Earth (whether or not covered by insurance) adversely affecting the business, operations, properties, assets, or condition of Wild Earth;

(b)           Wild Earth has not (i) amended its articles of incorporation or bylaws; (ii) declared or made, or agreed to declare or make, any payment of dividends or distributions of any assets of any kind whatsoever to its stockholders or purchased or redeemed, or agreed to purchase or redeem, any of its capital stock; (iii) waived any rights of value which in the aggregate are extraordinary and material considering the business of Wild Earth; (iv) made any material change in its method of accounting; (v) entered into any other material transactions other than those contemplated by this Agreement; (vi) made any material accrual or material arrangement for or payment of bonuses or special compensation of any kind or any severance or termination pay to any present or former officer or employee; (vii) increased the rate of compensation payable or to become payable by it to any of its officers or directors or any of its employees; or (viii) established any profit-sharing, bonus, deferred compensation, insurance, pension, retirement, or other employee benefit plan, payment, or arrangement made to, for, or with its officers, directors, or employees;

(c)           Wild Earth has not (i) granted or agreed to grant any options, warrants, or other rights for its Shares, bonds, or other securities calling for the issuance thereof; (ii) borrowed or agreed to borrow any funds or incurred, or become subject to, any material obligation or liability (absolute or contingent) except liabilities incurred in the ordinary course of business; (iii) paid any material obligation or liability (absolute or contingent) other than current liabilities reflected in or shown on the most recent Wild Earth balance sheet and current liabilities incurred since that date in the ordinary course of business; (iv) sold or transferred, or agreed to sell or transfer, any of its material assets, properties, or rights, or agreed to cancel, any material debts or claims; (v) made or permitted any amendment or termination of any contract, agreement, or license to which it is a party if such amendment or termination is material, considering the business of Wild Earth; or (vi) issued, delivered, or agreed to issue or deliver any stock, bonds, or other company securities including debentures (whether authorized and unissued or held as treasury shares); and

(d)           To the best knowledge of Wild Earth, it has not become subject to any law or regulation which materially and adversely affects, or in the future would be reasonably expected to adversely affect, the business, operations, properties, assets, or condition of Wild Earth.

3.08            Title and Related Matters .  Except as provided herein or disclosed in the Wild Earth balance sheet and the notes thereto, Wild Earth has good and marketable title to all of its properties, inventory, interests in properties, and assets, which are reflected in the most recent Wild Earth balance sheet or acquired after that date (except properties, interests in properties, and assets sold or otherwise disposed of since such date in the ordinary course of business), free and clear of all mortgages, liens, pledges, charges, or encumbrances, except (i) statutory liens or claims not yet delinquent; and (ii) such imperfections of title and easements as do not, and will not, materially detract from, or interfere with, the present or proposed use of the properties subject thereto or affected thereby or otherwise materially impair present business operations on such properties.

 
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3.09            Litigation and Proceedings . There are no material actions, suits, or proceedings pending or, to the knowledge of Wild Earth, threatened by or against Wild Earth or adversely affecting Wild Earth or its properties, at law or in equity, before any court or other governmental agency or instrumentality, domestic or foreign, or before any arbitrator of any kind.  There is no default on its part with respect to any judgment, order, writ, injunction, decree, award, rule, or regulation of any court, arbitrator, or governmental agency or instrumentality.

3.10            Contracts .  Except as included or described in Schedule 3.10 :

(a)           There are no material contracts, agreements, franchises, license agreements, or other commitments to which Wild Earth is a party by which it or any of the properties of Wild Earth are bound;

(b)           All contracts, agreements, franchises, license agreements, and other commitments to which Wild Earth is a party or by which its properties are bound and which are material to the operations or financial condition of Wild Earth are valid and enforceable by Wild Earth in all material respects;

(c)           Wild Earth is not a party to or bound by, and its properties are not subject to, any material contract, agreement, other commitment or instrument; any charter or other corporate restriction; or any judgment, order, writ, injunction, decree, or award which materially and adversely affects, or in the future may (as far as Wild Earth can now foresee) materially and adversely affect, the business, operations, properties, assets, or condition of Wild Earth; and

(d)           Wild Earth is not a party to any oral or written (i) contract for the employment of any officer, director, or employee which is not terminable on 30 days (or less) notice;  (ii)  profit-sharing, bonus, deferred compensation, stock option, severance pay, pension benefit or retirement plan, agreement, or arrangement covered by Title IV of the Employee Retirement Income Security Act, as amended; (iii) agreement, contract, or indenture relating to the borrowing of money; (iv) guarantee of any obligation, other than one on which Wild Earth is a primary obligor, for the borrowing of money or otherwise, excluding endorsements made for collection and other guarantees of obligations, which, in the aggregate do not exceed $5,000; (v) consulting or other similar contract with an unexpired term of more than one year or providing for payments in excess of $5,000 in the aggregate;  (vi) collective bargaining agreement; (vii) agreement with any present or former officer or director of Wild Earth or any subsidiary; or (viii) contract, agreement, or other commitment involving payments by it of more than $5,000 in the aggregate.

3.11            Material Contract Defaults .  Wild Earth is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or condition of Wild Earth, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which Wild Earth has not taken adequate steps to prevent such a default from occurring.

 
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3.12            Intellectual Property .  Except as disclosed on Wild Earth Disclosure Schedule 3.12 :

(a)           All of Wild Earth’s material Intellectual Property is either licensed or owned by Wild Earth, in each case free and clear of all liens other than any right of any third party as owner or licensor or licensee under a contract affecting such Intellectual Property, with royalties as set forth on Wild Earth Disclosure Schedule 3.12 ;

(b)           None of Wild Earth’s material Intellectual Property is the subject of any pending or, to the knowledge of Wild Earth, threatened litigation or claim of infringement;

(c)           Wild Earth has not granted any license, or agreed to pay or receive any royalty in respect of, any Intellectual Property except as set forth on Wild Earth Disclosure Schedule 3.12 ;

(d)           No material license or royalty agreement to which Wild Earth is a party is in breach or default by Wild Earth or, to the knowledge of Wild Earth, any other party thereto; and no such license or royalty agreement is or has been the subject of any notice of termination given or threatened in writing by any person;

(e)           Wild Earth has not received any notice contesting its rights to use any Intellectual Property except as set forth on Wild Earth Disclosure Schedule 3.12 ;

(f)           Wild Earth has not granted any license or agreed to pay or receive any royalty in respect of any material Intellectual Property except as set forth on Wild Earth Disclosure Schedule 3.12 ; and

(g)           Wild Earth has not violated the Intellectual Property rights of any third party.

3.13            No Conflict With Other Instruments .  The execution of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in the breach of any term or provision of, or constitute an event of default under, any material indenture, mortgage, deed of trust, or other material contract, agreement, or instrument to which Wild Earth is a party or to which any of its properties or operations are subject.

3.14            Compliance With Laws and Regulations .  Wild Earth has complied with all applicable statutes and regulations of any federal, state, or other governmental entity or agency thereof, except to the extent that noncompliance would not materially and adversely affect the business, operations, properties, assets, or condition of Wild Earth or except to the extent that noncompliance would not result in the occurrence of any material liability for Wild Earth.  To the best knowledge of Wild Earth, the consummation of the transactions contemplated by this Agreement will comply with all applicable statutes and regulations, subject to the preparation and filing of any forms required by state and federal securities laws.
 
 
 
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3.15            Governmental Authorizations .  Wild Earth has all licenses, franchises, permits, and other governmental authorizations that are legally required to enable it to conduct its business in all material respects as conducted on the date of this Agreement.  Except for compliance with federal and state securities and corporation laws, as hereinafter provided, no authorization, approval, consent, or order of, or registration, declaration, or filing with, any court or other governmental body is required in connection with the execution and delivery by Wild Earth of this Agreement and the consummation by Wild Earth of the transactions contemplated hereby.

3.16            Subsidiaries and Predecessors .  Wild Earth does not own, beneficially or of record, any equity securities in any other entity.  Wild Earth does not have a predecessor as that term is defined under generally accepted accounting principles or Regulation S-X promulgated by the Securities and Exchange Commission.
 
3.17   Insurance .  Wild Earth carries insurance on its insurable properties in such amounts and with such terms of coverage as is customarily carried by companies operating in the same industry and geographical area.

3.18   Environmental .  Wild Earth is in compliance in all material respects with all applicable federal, state and local laws and regulations governing the environment, public health and safety and employee health and safety (including all provisions of the Occupational Safety and Health Administration (“OSHA”) and no charge, complaint, action, suit, proceeding, hearing, investigation, claim, demand or notice has been filed or commenced against any Wild Earth Entity and, to the Knowledge of Wild Earth, no such charge, complaint, action, suit, proceeding, hearing, investigation, claim, demand or notice is pending or has been threatened.
 
3.19   Employee Relations .  Wild Earth has complied in respect of its business in all material respects with all applicable laws, rules, and regulations that relate to prices, wages, hours, harassment, disabled access, and discrimination in employment and collective bargaining and to the operation of its business and is not liable for any arrears of wages or any taxes or penalties for failure to comply with any of the foregoing.  Wild Earth has no outstanding liabilities or obligations with respect to any employee benefit or retirement plan.  Wild Earth believes that its relationship with its employees is satisfactory.

3.20   Officer and Director Information .  During the past five (5) years, neither Wild Earth, nor any of its respective officers or directors, has been the subject of:

(a)           a bankruptcy petition filed by or against any business of which Wild Earth or such other person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

(b)           a conviction in a criminal proceeding or a pending criminal proceeding (excluding traffic violations and other minor offenses);
 
 
 
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(c)           any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting Wild Earth or any such other person from involvement in any type of business, securities or banking activities; or
 
(d)           a finding by a court of competent jurisdiction (in a civil action), the SEC, or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.
 
3.21            Wild Earth Schedules .  Wild Earth has delivered to Ultra Sun the following schedules, which are collectively referred to as the “Wild Earth Schedules” and which consist of the following separate schedules dated as of the date of execution of this Agreement, and instruments and Ultra Sun as of such date, all certified by the chief executive officer of Wild Earth as complete, true, and accurate:

(a)           A schedule including copies of Wild Earth’s articles of incorporation and bylaws and all amendments thereto in effect as of the date of this Agreement;

(b)           A schedule containing copies of resolutions adopted by the directors and stockholders of Wild Earth approving this Agreement and the transactions herein contemplated as referred to in Section 3.02 ;

(c)           A schedule setting forth the financial statements required pursuant to Section 3.04 (a) hereof; and
 
(d)           A schedule setting forth any other information, together with any required copies of documents, required to be disclosed in the Wild Earth Schedules by Sections 3.01 through 3.20 .

Wild Earth shall cause the Wild Earth Schedules and the instruments delivered to Ultra Sun hereunder to be updated after the date hereof up to and including the Closing Date.  Such updated Wild Earth Schedules, certified in the same manner as the original Wild Earth Schedules, shall be delivered prior to and as a condition precedent to the obligation of Ultra Sun to close the transactions contemplated by this Agreement.

ARTICLE IV
CONDITIONS PRECEDENT TO OBLIGATIONS OF WILD EARTH

The obligations of Wild Earth under this Agreement are subject to the satisfaction, at or before the Closing Date, of the following conditions:

4.01            Accuracy of Representations .  The representations and warranties made by Ultra Sun and Merger Co. in this Agreement were true when made and shall be true at the Closing Date with the same force and affect as if such representations and warranties were made at and as of the Closing Date (except for changes therein permitted by this Agreement), and Ultra Sun shall have performed or complied with all covenants and conditions required by this Agreement to be performed or complied with by Ultra Sun and Merger Co. prior to or at the Closing.  Wild Earth shall be furnished with certificates, signed by duly authorized officers of Ultra Sun and Merger Co. and dated the Closing Date, to the foregoing effect.
 
 
 
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4.02            Officer’s Certificates .  Wild Earth shall have been furnished with certificates dated the Closing Date and signed by the duly authorized chief executive officer of Ultra Sun and Merger Co. to the effect that no litigation, proceeding, investigation, or inquiry is pending or, to the best knowledge of Ultra Sun or Merger Co. threatened, which might result in an action to enjoin or prevent the consummation of the transactions contemplated by this Agreement.  Furthermore, based on certificates of good standing, representations of government agencies, and Ultra Sun’s and Merger Co.’s own documents and information, the certificate shall represent, to the best knowledge of the officers, that:

(a)           This Agreement has been duly approved by Ultra Sun’s and Merger Co.’s boards of directors, and by the sole shareholder of Merger Co.; approval of this Agreement by the Ultra Sun’s shareholders is not required; and this Agreement has been duly executed and delivered in the name and on behalf of Ultra Sun and Merger Co. by their duly authorized officers pursuant to, and in compliance with, authority granted by the boards of directors of Ultra Sun and Merger Co. pursuant to unanimous written consents;

(b)           Except as provided or permitted herein, there have been no material adverse changes in the business or financial condition of Ultra Sun or Merger Co. up to and including the date of the certificate;

(c)           All conditions required by this Agreement to be performed by Ultra Sun or Merger Co. have been met, satisfied, or performed by Ultra Sun and Merger Co., as appropriate;

(d)           All authorizations, consents, approvals, registrations, and/or filings with any governmental body, agency, or court required in connection with the execution and delivery of the documents by Ultra Sun or Merger Co. have been obtained and are in full force and effect or, if not required to have been obtained, will be in full force and effect by such time as may be required; and

(e)           There is no material action, suit, proceeding, inquiry, or investigation at law or in equity by any public board or body pending or threatened against Ultra Sun or Merger Co., wherein an unfavorable decision, ruling, or finding could have an adverse effect on the financial condition of Ultra Sun or Merger Co., the operation of Ultra Sun or Merger Co., or the acquisition and reorganization contemplated herein, or any agreement or instrument by which Ultra Sun or Merger Co. is bound or which in any way contests the existence of Ultra Sun or Merger Co.

4.03            No Material Adverse Change .  Prior to the Closing Date, there shall not have occurred any material adverse change in the financial condition, business, or operations of Ultra Sun or Merger Co., nor shall any event have occurred which, with the lapse of time or the giving of notice, may cause or create any material adverse change in the financial condition, business, or operations of Ultra Sun or Merger Co.
 
 
 
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4.04            Good Standing .  Wild Earth shall have received a certificate of good standing from the Nevada Secretary of State, dated as of the date within five days prior to the Closing Date, certifying that Ultra Sun and Merger Co. are each in good standing as corporations in the State of Nevada.

4.05            Satisfaction of Special Covenants .  All actions to be taken or performed by Ultra Sun pursuant to Article VI of this Agreement shall have been completed, unless waived by Wild Earth.

4.06            Actions or Proceedings .   No action or proceeding by any governmental authority or other person shall have been instituted or threatened which: (a) is likely to have a material adverse effect on the business or operations of Ultra Sun; or (b) could enjoin, restrain or prohibit, or could result in substantial damages in respect of, any provision of this Agreement or the consummation of the transactions contemplated hereby.

4.07            Other Items .  Wild Earth shall have received such further documents, certificates, or instruments relating to the transactions contemplated hereby as Wild Earth may reasonably request.

ARTICLE V
CONDITIONS PRECEDENT TO OBLIGATIONS OF ULTRA SUN

The obligations of Ultra Sun under this Agreement are subject to the satisfaction, at or before the Closing Date, of the following conditions:

5.01            Accuracy of Representations .  The representations and warranties made by Wild Earth in this Agreement were true when made and shall be true at the Closing Date with the same force and effect as if such representations and warranties were made at and as of the Closing Date (except for changes therein permitted by this Agreement), and Wild Earth shall have performed or complied with all covenants and conditions required by this Agreement to be performed or complied with by Wild Earth prior to or at the Closing.  Ultra Sun shall be furnished with a certificate, signed by a duly authorized officer of Wild Earth and dated the Closing Date, to the foregoing effect.

5.02            Officer’s Certificates .  Ultra Sun shall have been furnished with certificates dated the Closing Date and signed by the duly authorized chief executive officer of Wild Earth to the effect that no litigation, proceeding, investigation, or inquiry is pending or, to the best knowledge of Wild Earth, threatened, which might result in an action to enjoin or prevent the consummation of the transactions contemplated by this Agreement.  Furthermore, based on certificates of good standing, representations of government agencies, and Wild Earth’s own documents, the certificate shall represent, to the best knowledge of the officer, that:
 
 
 
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(a)           This agreement has been duly approved by Wild Earth’s board of directors and shareholders and has been duly executed and delivered in the name and on behalf of Wild Earth by its duly authorized officers pursuant to, and in compliance with, authority granted by the board of directors of Wild Earth pursuant to a unanimous consent;

(b)           Except as provided or permitted herein, there have been no material adverse changes in the business or financial condition of Wild Earth up to and including the date of the certificate;

(c)           All conditions required by this Agreement to be performed by Wild Earth have been met, satisfied, or performed by Wild Earth;

(d)           All authorizations, consents, approvals, registrations, and/or filing with any governmental body, agency, or court required in connection with the execution and delivery of the documents by Wild Earth have been obtained and are in full force and effect or, if not required to have been obtained, will be in full force and effect by such time as may be required; and

(e)           There is no material action, suit, proceeding, inquiry, or investigation at law or in equity by any public board or body pending or threatened against Wild Earth, wherein an unfavorable decision, ruling, or finding would have a material adverse effect on the financial condition of Wild Earth, the operation of Wild Earth, or the acquisition and reorganization contemplated herein, or any material agreement or instrument by which Wild Earth is bound or which in any way contests the existence of Wild Earth.

5.03            No Material Adverse Change .  Prior to the Closing Date, there shall not have occurred any material adverse change in the financial condition, business or operations of Wild Earth, nor shall any event have occurred which, with the lapse of time or the giving of notice, may cause of create any material adverse change in the financial condition, business, or operations of Wild Earth.

5.04             Good Standing .  Ultra Sun shall have received a certificate of good standing from the secretary of state of Nevada, dated as of a date with five days prior to the Closing Date, certifying that Wild Earth is in good standing as a corporation in the State of Nevada.

5.05            Satisfaction of Special Covenants .  All actions to be taken or performed by Wild Earth pursuant to Article VI of this Agreement shall have been completed, unless waived by Ultra Sun.
 
5.06            Actions or Proceedings .   No action or proceeding by any governmental authority or other person shall have been instituted or threatened which: (a) is likely to have a material adverse effect on the business or operations of Wild Earth; or (b) could enjoin, restrain or prohibit, or could result in substantial damages in respect of, any provision of this Agreement or the consummation of the transactions contemplated hereby.
 
 
 
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5.07            Other Items .  Ultra Sun shall have received such further documents, certificates, or instruments relating to the transactions contemplated hereby as Ultra Sun may reasonably request.

ARTICLE VI
SPECIAL COVENANTS

6.01            Activities of Ultra Sun and Wild Earth

(a)           From and after the date of this Agreement until the Closing Date and except as set forth in the respective schedules to be delivered by Ultra Sun and Wild Earth pursuant hereto or as permitted or contemplated by this Agreement, Ultra Sun, Merger Co., and Wild Earth will each:

(i)           Carry on its business in substantially the same manner as it has heretofore;

(ii)           Maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it;

(iii)           Perform in all material respects all of its obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business;

(iv)           Use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationships with its material suppliers and customers;

(v)           Duly and timely file for all taxable periods ending on or prior to the Closing Date all federal, state, county, and local tax returns required to be filed by or on behalf of such entity or for which such entity may be held responsible and shall pay, or cause to be paid, all taxes required to be shown as due and payable on such returns, as well as all installments of tax due and payable during the period commencing on the date of this Agreement and ending on the Closing Date.; and

(vi)           Fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities.

(b)           From and after the date of this Agreement and except as provided herein until the Closing Date, each of Ultra Sun, Merger Co., and Wild Earth will not:

(i)           Make any change in its articles of incorporation or bylaws or effect any recapitalization;

(ii)           Enter into or amend any material contract, agreement, or other instrument of any of the types described in such party’s schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business; and
 
 
 
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(iii)           Enter into any agreement for the sale of Wild Earth, Ultra Sun or Merger Co.’s securities without the prior written approval of the other parties.

6.02            Access to Properties and Records .  Until the Closing Date, Wild Earth, Ultra Sun, and Merger Co. will afford to the other party’s officers and authorized representatives full access to the properties, books, and records of the other party in order that each party may have full opportunity to make such reasonable investigation as it shall desire to make of the affairs of Wild Earth, Ultra Sun or Merger Co. and will furnish the other party with such additional financial and other information as to the business and properties of Wild Earth, Ultra Sun or Merger Co. as each party shall from time to time reasonably request.

6.03            Indemnification by Wild Earth .  Wild Earth will indemnify and hold harmless Ultra Sun, Merger Co. and their respective directors and officers, and each person, if any, who controls Ultra Sun or Merger Co. within the meaning of the Securities Act, from and against any and all losses, claims, damages, expenses, liabilities, or actions to which any of them may become subject under applicable law (including the Securities Act and the Securities Exchange Act) and will reimburse them for any legal or other expenses reasonably incurred by them in connection with investigating or defending any claims or actions, whether or not resulting in liability, insofar as such losses, claims, damages, expenses, liabilities, or actions arise out of or are based upon any untrue statement or alleged untrue statement of material fact contained in any application or statement filed with a governmental body or arising out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein, or necessary in order to make the statements therein not misleading, but only insofar as any such statement or omission was made in reliance upon and in conformity with information furnished in writing by Wild Earth expressly for use therein. The indemnity agreement contained in this Section 6.03 shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of Ultra Sun or Merger Co. and shall survive the consummation of the transactions contemplated by this Agreement for a period of one year.

6.04.            Indemnification by Ultra Sun .  Ultra Sun will indemnify and hold harmless Wild Earth, and its directors and officers, and each person, if any, who controls Wild Earth within the meaning of the Securities Act, from and against any and all losses, claims, damages, expenses, liabilities, or actions to which any of them may become subject under applicable law (including the Securities Act and the Securities Exchange Act) and will reimburse them for any legal or other expenses reasonably incurred by them in connection with investigating or defending any claims or actions, whether or not resulting in liability, insofar as such losses, claims, damages, expenses, liabilities, or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any application or statement filed with a governmental body or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein, or necessary in order to make the statements therein not misleading, but only insofar as any such statement or omission was made in reliance upon and in conformity with information furnished in writing by Ultra Sun expressly for use therein.  The indemnity agreement contained in this Section 6.04 shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of Wild Earth and shall survive the consummation of the transactions contemplated by this Agreement for a period of one year.
 
 
 
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6.05            The Acquisition of Ultra Sun Common Stock .  Ultra Sun and Wild Earth understand and agree that the consummation of this Agreement including the issuance of the Ultra Sun Common Stock to Wild Earth in exchange for the Wild Earth Shares as contemplated hereby, constitutes the offer and sale of securities under the Securities Act and applicable state statutes.  Ultra Sun and Wild Earth agree that such transactions shall be consummated in reliance on exemptions from the registration and prospectus delivery requirements of such statutes which depend, among other items, on the circumstances under which such securities are acquired.

(a)           In order to provide documentation for reliance upon the exemptions from the registration and prospectus delivery requirements for such transactions, each shareholder of Wild Earth shall execute and deliver to Ultra Sun an investment representation letter in substantially the same form as that attached hereto as Exhibit “A.”

(b)           In connection with the transaction contemplated by this Agreement, Wild Earth and Ultra Sun shall each file, with the assistance of the other and their respective legal counsel, such notices, applications, reports, or other instruments as may be deemed by them to be necessary or appropriate in an effort to document reliance on such exemptions, and the appropriate regulatory authority in the states where the shareholders of Wild Earth reside unless an exemption requiring no filing is available in such jurisdictions, all to the extent and in the manner as may be deemed by such parties to be appropriate.

(c)           In order to more fully document reliance on the exemptions as provided herein, Wild Earth, the shareholders of Wild Earth, and Ultra Sun shall execute and deliver to the other, at or prior to the Closing, such further letters of representation, acknowledgment, suitability, or the like as Ultra Sun or Wild Earth and their respective counsel may reasonably request in connection with reliance on exemptions from registration under such securities laws.

6.06            Securities Filings .  Ultra Sun shall be responsible for the preparation and filing with the Securities and Exchange Commission of a report on Form D and Wild Earth will be responsible for any and all filings in any jurisdiction where its shareholders reside which would require a filing with a governmental agency as a result of the transactions contemplated by this Agreement.

6.07            Sales of Securities Under Rule 144 .

(a)           Ultra Sun will use its best efforts to at all times satisfy the current public information requirements of rule 144 promulgated under the Securities Act so that its non-affiliate shareholders can sell restricted securities that have been held for six months or more or such other restricted period as required by rule 144 as it is from time to time amended.

(b)           Upon being informed in writing by any person holding restricted stock of Ultra Sun as of the date of this Agreement that such person intends to sell any shares under rule 144 promulgated under the Securities Act (including any rule adopted in substitution or replacement thereof), Ultra Sun will certify in writing to such person that it is in compliance with rule 144 current public information requirement to enable such person to sell such person’s restricted stock under rule 144, as may be applicable under the circumstances.
 
 
 
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(c)           If any certificate representing any such restricted stock is presented to Ultra Sun’s transfer agent for registration or transfer in connection with any sales theretofore made under rule 144, provided such certificate is duly endorsed for transfer by the appropriate person(s) or accompanied by a separate stock power duly executed by the appropriate person(s) in each case with reasonable assurances that such endorsements are genuine and effective, and is accompanied by an opinion of counsel satisfactory to Ultra Sun and its counsel that such transfer has complied with the requirements of rule 144, as the case may be, Ultra Sun will promptly instruct its transfer agent to register such transfer and to issue one or more new certificates representing such shares to the transferee and, if appropriate under the provisions of rule 144, as the case may be, free of any related stop transfer order or restrictive legend.  The provisions of this Section 6.08 shall survive the Closing and the consummation of the transactions contemplated by this Agreement for a period of two years.

6.08            Designation of Directors and Officers
  On the Closing Date, (a) David O’Bagy shall resign from his position as a director of Ultra Sun and David Tobias shall be appointed to fill the vacancy created by such resignation, effective immediately, (b) Neil Blosch shall resign from each of his officer positions of Ultra Sun, effective immediately, (c) David Tobias shall be appointed to serve as President and Secretary of Ultra Sun, effective immediately, (d) Catherine Carroll shall be appointed to serve as Chief Financial Officer and Treasurer of Ultra Sun, effective immediately, (e) David Tanner shall be appointed to serve as Chief Operating Officer of Ultra Sun, effective immediately.  After compliance by Ultra Sun with Rule 14F-1 promulgated under the Exchange Act, the resignation of Neil Blosch from his position as a director shall become effective and the appointment of Catherine Carroll and Barry Tobias as directors shall become effective.
 
6.09            Wild Earth Financial Statements .  Prior to Closing, Wild Earth shall cause to be prepared and delivered to Ultra Sun any additional financial statements and information of Wild Earth that is required to be filed by Ultra Sun with the SEC as a result of its acquisition of Wild Earth.  All such financial statements shall be prepared in accordance with the rules and regulations of the SEC.

6.10            Consulting Agreement .  Concurrently with the Closing, Ultra Sun shall enter into a consulting agreement with Neil Blosch with respect to Ultra Sun’s tanning salon operations in the form approved by Ultra Sun and Wild Earth.

6.11            Stock Sales .  Concurrently with the Closing, certain stockholders of Ultra Sun shall complete the sale to certain stockholders of Wild Earth of a total of 829,200 shares of Ultra Sun common stock.
 
 
 
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6.12            Sale and Assignment of Promissory Notes .  Concurrently with the Closing, the  holders of convertible promissory notes of Ultra Sun shall sell and assign to certain stockholders of Wild Earth convertible promissory notes of Ultra Sun in the aggregate principal amount of $68,112 for an aggregate purchase price of $68,112.

6.13            Loan for First Quarter Operating Expenses .  Concurrently with the Closing, certain stockholders of Ultra Sun shall make a loan to Ultra Sun in the amount of $7,100 to cover certain operating expenses incurred during the first fiscal quarter of 2013, which shall be evidenced by a promissory note in the form approved by Ultra Sun and Wild Earth.

ARTICLE VII
MISCELLANEOUS

7.01            Brokers .  Ultra Sun and Wild Earth agree that they are not obligated to pay any finders or brokers for bringing the parties together or who were instrumental in the negotiation, execution, or consummation of this Agreement.  Ultra Sun and Wild Earth each agree to indemnify the other against any claim by any third person for any commission, brokerage, or finder’s fee or other payment with respect to this Agreement or the transactions contemplated hereby based on any alleged agreement or understanding between such party and such third person, whether express or implied, from the actions of such party.

7.02              No Representation Regarding Tax Treatment .  No representation or warranty is being made by any party to any other regarding the treatment of this transaction for federal or state income taxation.  Each party has relied exclusively on its own legal, accounting, and other tax adviser regarding the treatment of this transaction for federal and state income tax purposes.

7.03            Governing Law .  This Agreement shall be governed by, enforced and construed under and in accordance with the laws of the State of Nevada.
 
7.04            Notices .  All notices, consents, waivers, requests, instructions, or other communications required or permitted hereunder shall be in writing, and shall be deemed to have been duly given if (a) delivered personally (effective upon delivery), (b) sent by a reputable, established international courier service providing confirmation of delivery (effective one business day after being delivered to such courier service), or (c) mailed by certified mail, return receipt requested, postage prepaid (effective three business days after being deposited in the U. S. Mail), addressed as follows (or to such other address as the recipient may have furnished for such purpose pursuant to this Section):

If to Wild Earth:
David Tobias
President
Wild Earth Naturals, Inc.
8174 S. Las Vegas Blvd., Suite 109-540
Las Vegas, Nevada 89123
 
 
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with a copy to:

Janet M. Collins, Esq.
500 N. Main St., Suite 1                                                                
Randolph, Massachusetts 02368

If to Ultra Sun:
Ultra Sun Corporation
1532 East St. Marks Court
Salt Lake City, Utah 84124
Attention:  Neil Blosch, President

with a copy to:

Mark N. Schneider, Esq.
Mark N. Schneider, A Professional Corp.
5445 S. Highland Drive, Suite C
Salt Lake City, Utah 84117
 
 
or such other addresses as shall be furnished in writing by any party in the manner for giving notices, hereunder, and any such notice or communication shall be deemed to have been given as of the date so delivered or sent by facsimile or telecopy transmission or other electronic communication, or one day after the date so sent by overnight courier.

7.05            Attorney’s Fees .  In the event that any party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach hereof, the breaching party or parties shall reimburse the nonbreaching party or parties for all costs, including reasonable attorneys’ fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

7.06            Schedules; Knowledge .  Whenever in any section of this Agreement reference is made to information set forth in the schedules provided by Ultra Sun or Wild Earth such reference is to information specifically set forth in such schedules and clearly marked to identify the section of this Agreement to which the information relates.  Whenever any representation is made to the “knowledge” of any party, it shall be deemed to be a representation that no officer or director of such party, after reasonable investigation, has any knowledge of such matters.

7.07            Entire Agreement .  This Agreement represents the entire agreement between the parties relating to the subject matter hereof.  All previous agreements between the parties, whether written or oral, have been merged into this Agreement.  This Agreement alone fully and completely expresses the agreement of the parties relating to the subject matter hereof.  There are no other courses of dealing, understandings, agreements, representations, or warranties, written or oral, except as set forth herein.
 
 
 
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7.08            Survival; Termination .  The representations, warranties, and covenants of the respective parties shall survive the Closing Date and the consummation of the transactions herein contemplated for a period of one year from the Closing Date, unless otherwise provided herein.
 
7.09            Counterparts .  This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument. Facsimile transmissions of any signed original document, or transmission of any signed facsimile document, shall constitute delivery of an executed original.  At the request of any of the parties, the parties shall confirm facsimile transmission signatures by signing and delivering an original document.

7.10            Amendment or Waiver .  Every right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity, and such remedies may be enforced concurrently, and no waiver by any party of the performance of any obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing.  At any time prior to the Closing Date, this Agreement may be amended by a writing signed by all parties hereto, with respect to any of the terms contained herein, and any term or condition of this Agreement may be waived or the time for performance thereof may be extended by a writing signed by the party or parties for whose benefit the provision is intended.

7.11            Public Statements .  Subject to their respective legal obligations (including requirements of stock exchanges and other similar regulatory bodies), the Parties shall consult with one another, and use reasonable best efforts to agree upon the text of any press release, before issuing any such press release or otherwise making public statements with respect to the Merger and in making any filings with any federal or state governmental or regulatory agency or with any securities exchange with respect thereto.
 
7.12            Expenses .  Except as otherwise expressly provided herein, each party hereto shall bear its own expenses with respect to this Agreement and the transactions contemplated hereby.
 
7.13            No Third Party Beneficiaries .  This Agreement is solely for the benefit of the parties hereto and, to the extent provided herein, their respective directors, officers, employees, agents and representatives, and no provision of this Agreement shall be deemed to confer upon other third parties any remedy, claim, liability, reimbursement, cause of action or other right.

 

[Signatures appear on the following page]

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

 
Ultra Sun:
 
Wild Earth:
 
Ultra Sun Corporation
A Nevada corporation
Wild Earth Naturals, Inc.
A Nevada corporation
 
By: /s/ Neil Blosch
Neil Blosch, President
 
By: /s/ David Tobias
David Tobias, President
 
Merger Co:
 
Ultra Merger Co.
A Nevada corporation
 
 
By: /s/ Neil Blosch
Neil Blosch, President
 

 
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Exhibit 2.2
 
 
 
 
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 

 
 
 
 
 

 
 
 
 
 

 
Exhibit 2.3
Plan of Merger

This Plan of Merger (the “Plan”) dated as of July 12, 2013 is entered into by and between Wild Earth Naturals, Inc., a Nevada corporation (“Wild Earth”), and Ultra Merger Co., a Nevada corporation (“Merger Co.”), such corporations being hereinafter collectively referred to as the “Constituent Corporations.”
 
Premises

WHEREAS, Merger Co. is a corporation duly organized and existing under the laws of the State of Nevada, having an authorized capital of 100,000 shares of common stock, par value $0.001 per share (the “Common Stock of Merger Co.”), of which 1,000 shares are issued and outstanding as of the date hereof;

WHEREAS, Wild Earth is a corporation duly organized and existing under the laws of the State of Nevada,  having an authorized capital of 100,000 shares of common stock, par value $0.001 per share (the “Common Stock of Video”), of which 100,000 shares are issued and outstanding as of the date hereof; and

WHEREAS, the respective boards of directors and shareholders of the Constituent Corporations have each duly approved this Plan providing for the merger of Merger Co. with and into Wild Earth with Wild Earth as the surviving corporation as authorized by the statutes of the state of Nevada.
 
Agreement

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, and for the purpose of setting forth the terms and conditions of said merger and the manner and basis of causing the shares of Merger Co. to be converted into shares of stock of Wild Earth and such other provisions as are deemed necessary or desirable, the parties hereto have agreed and do hereby agree, subject to the approval and adoption of this Plan by the requisite vote of the stockholders of each Constituent Corporation, and subject to the conditions hereinafter set forth, as follows:
 
Article I
Merger

On the effective date of the merger, Wild Earth and Merger Co. shall cease to exist separately and Merger Co. shall be merged with and into Wild Earth, which is hereby designated as the “Surviving Corporation,” the name of which on and after the Effective Date (as hereinafter defined) of the merger shall continue to be “Wild Earth Naturals, Inc.”

Article II
Terms and Conditions of Merger

The terms and conditions of the merger (in addition to those set forth elsewhere in this Plan) are as follows:

(a)           On the Effective Date of the merger:

(1)           Merger Co. shall be merged into Wild Earth to form a single corporation, and Wild Earth shall be designated herein as the Surviving Corporation.

     (i)           The separate existence of Merger Co. shall cease.

     (ii)           The Surviving Corporation shall have all the rights, privileges, immunities, and powers and shall be subject to all duties and liabilities of a corporation organized under the laws of the state of Nevada.

     (iii)           The Surviving Corporation shall thereupon and thereafter possess all the rights, privileges, immunities, and franchises, of a public as well as a private nature, of each of the Constituent

 
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Corporations; all property, real, personal, and mixed, and all debts due of whatever account, including subscriptions to shares, and all and every other interest, of or belonging to or due to each of the Constituent Corporation shall be taken and deemed to be transferred to and vested in the Surviving Corporation without further act or deed; the title to any real estate, or any interest therein, vested in either Constituent Corporation shall not revert or be in any way impaired by reason of the merger; the Surviving Corporation shall thenceforth be responsible and liable for all the liabilities and obligations of each of the Constituent Corporations; any claim existing or action or proceeding pending by or against either of such Constituent Corporations may be prosecuted as if the merger had not taken place, or the Surviving Corporation may be substituted in place of the Constituent Corporation; and neither the rights of creditors nor any liens on the property of either of the Constituent Corporations shall be impaired by the merger.

Article III
Manner and Basis of Converting Shares

The manner and basis of converting the shares of the Constituent Corporations and the mode of carrying the merger into effect are as follows.

(a)           The 1,000 shares of Common Stock of Merger Co. outstanding on the effective date of the merger shall, without any action on the part of the holder thereof, be converted into 1,000 fully paid and nonassessable shares of Common Stock of the Surviving Corporation, which shall, on such conversion be, validly issued and outstanding, fully paid, and nonassessable, and shall not be liable to any further call, nor shall the holder thereof be liable for any further payments with respect thereto.  The share of Common Stock of the Surviving Corporation into which shares of the Common Stock of Merger Co. shall have been converted shall be issued in full satisfaction of all rights pertaining to the shares of Common Stock of Merger Co.

(b)           Each share of Common Stock of Wild Earth outstanding on the Effective Date of the merger shall, without any action on the part of the holder thereof, be converted into sixty-five (65) fully paid and nonassessable shares of Common Stock of Ultra Sun Corporation, a Nevada corporation (“Ultra Sun”) and the parent of Merger Co., which shall, on such conversion, be validly issued and outstanding, fully paid, and nonassessable, and shall not be liable to any further call, nor shall the holder thereof be liable for any further payments with respect thereto.  No fractional shares shall be issued in connection with the merger and any fractional shares that would otherwise be issuable shall be rounded to the nearest whole share.

(c)           All shares of the Common Stock of Ultra Sun into which shares of the Common Stock of Wild Earth shall have been converted pursuant to Article III shall be issued in full satisfaction of all rights pertaining to the shares of Common Stock of Wild Earth, as applicable.

(d)           If any certificate for shares of Ultra Sun is to be issued in a name other than that in which the certificate surrendered in exchange therefor is registered, it shall be a condition of the issuance thereof that the certificate so surrendered shall be properly endorsed and otherwise in proper form for transfer, that the transfer be in compliance with applicable federal and state securities laws, and that the person requesting such exchange pay to Ultra Sun or any agent designated by it any transfer or other taxes required by reason of the issuance of a certificate for shares of Ultra Sun in any name other than that of the registered holder of the certificate surrendered, or establish to the satisfaction of Ultra Sun or any agent designated by it that such tax has been paid or is not payable.

Article IV
Articles of Incorporation and Bylaws

The articles of incorporation of Wild Earth shall, on the merger becoming effective, be and constitute the articles of incorporation of the Surviving Corporation until amended in the manner provided by law.  The bylaws of Wild Earth shall, on the merger becoming effective, be and constitute the bylaws of the Surviving Corporation until amended in the manner provided by law.


 
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Article V
Officers and Directors

The officers and directors of Wild Earth shall become the officers and directors of the Surviving Corporation, after the Merger, and such officers and directors shall serve until the next annual meeting of stockholders and until such time as their successors are duly elected and shall qualify.  If on the Effective Date of the merger, a vacancy shall exist in the board of directors or in any of the offices of the Surviving Corporation, such vacancy may be filled in the manner provided for in the bylaws of the Surviving Corporation.

Article VI
Approval and Effective Date of the Merger; Miscellaneous Matters

1.           The merger shall become effective when Articles of Merger in the form required by the laws of the state of Nevada shall be filed in the Office of the Secretary of State of Nevada, which is herein referred to as the “Effective Date.”

2.           If at any time the Surviving Corporation shall deem or be advised that any further grants, assignments, confirmations, or assurances are necessary or desirable to vest, perfect, or confirm title in the Surviving Corporation, of record or otherwise, to any property of Merger Co. acquired or to be acquired by, or as a  result of, the merger, the officers and directors of Merger Co. or any of them shall be severally and fully authorized to execute and deliver any and all such deeds, assignments, confirmations, and assurances and to do all things necessary or proper so as to best prove, confirm, and ratify title to such property in the Surviving corporation and otherwise carry out the purposes of the merger and the terms of this Plan.

3.           This Plan cannot be altered or amended, except pursuant to a written instrument signed by both parties hereto.

4.           This Plan may be executed in multiple counterparts, each of which shall be deemed to be an original instrument, and all such counterparts together shall be considered one and the same instrument.

5.           This Plan shall be governed by and construed in accordance with the laws of the state of Nevada.
 

 

[Signatures appear on the following page]

 
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The foregoing Plan of Merger, having been approved by the board of directors and stockholders of each Constituent Corporation in accordance with the laws of the state of Nevada, Wild Earth and Merger Co. hereby execute this Plan of Merger as of the date first written.
 

Wild Earth Naturals, Inc.
A Nevada corporation


By: /s/ David Tobias
David Tobias, President
 
Ultra Merger Co.
A Nevada corporation


By: /s/ Neil Blosch
Neil Blosch, President

 

 
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Exhibit 10.1
CONSULTING AGREEMENT

This Consulting Agreement (this “Agreement”) is made and entered into effective as of the 12th day of July 2013, by and between Ultra Sun Corporation, a Nevada corpora­tion (the “Company”), and Neil Blosch, an individual (“Contracto­r”).

For and in consideration of the mutual promises and covenants hereinafter set forth, the Company and Contractor agree as follows:

1.   Engagement .  The Company hereby hires Contractor to perform certain services on its behalf and Contractor hereby accepts such contract and agrees to perform such services for the Company upon the terms and conditions hereinafter set forth.

2.   Duties of Contractor .  Contractor shall manage the operations of the Company’s tanning salon and shall investigate the opportunities available to the Company for the disposition of such tanning salon.  The parties anticipate that the specific activities of Contractor may include, but not be limited to: overseeing the day-to-day operation of the tanning salon; preparation of budgets; preparation of monthly financial statements; preparation of documentation required in connection with the sale of the tanning salon; and contacting potential buyers of the tanning salon.  The Contractor shall perform the services contracted for hereunder under the direction of the Company’s President.

3.   Time to be Devoted by Contractor .  Contractor shall devote such time to the business and affairs of the Company as is reasonably required to discharge his duties hereunder.  This Agreement shall not prohibit or restrict Contractor from engaging in other activities as long as such activities do not compete with the products, services or activities of the Company’s tanning salon and do not detract from or interfere with the performance of Contractor’s duties hereunder.

4.   Term / Termination .  The term of this Agreement shall be for approximately three months, commencing effective as of the date hereof and expiring on September 30, 2013.  Notwithstanding the foregoing, in the event the Company should sell the tanning salon, this Agreement shall terminate five business days following the closing date of such sale.

5.   Compensation .  As full and complete payment for services rendered by Contractor during the term of this Agreement, the Company agrees to compensate Contractor as follows:

(a)  Two Thousand Dollars ($2,000) per month, payable in arrears on the last day of each calendar month.  Payment for services performed during any partial month at the beginning or end of the term of this Agreement shall be prorated.

(b)  An incentive bonus payable in the event the Company sells the tanning salon.  In the event the tanning salon is sold, the Company shall apply the proceeds from such sale: first to pay Contractor an incentive bonus in an amount of Fifty Thousand Dollars ($50,000); second to hold for the benefit of the Company the amount of any net loss incurred by the tanning salon (that is, operating costs the tanning salon was not able to pay from its income in its ordinary course of business) during the period from April 1, 2013 through the date the tanning salon is sold; third to pay that certain promissory note of even date herewith to Contractor, Kirk Blosch and Jeff Holmes in the principal amount of $7,100; and fourth to pay fifty percent (50%) of the remaining sales proceeds (up to a maximum of an additional $25,000) to Contractor as an additional incentive bonus.  In the event the sales proceeds from the tanning salon are not adequate to pay the foregoing amounts, the proceeds shall be applied in the order of priority set forth above until they have been

 
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exhausted.  In no event shall Contractor be entitled to receive an incentive bonus that exceeds the sales proceeds from the tanning salon.
 
6.   Facilities .  Contractor shall perform his services under this agreement at the offices of Contractor, and at the tanning salon office of the Company, as required in order to perform such services in the most expeditious and efficient manner.

7.   Expenses .  The Company will reimburse Contractor for actual and reasonable expenses incurred by Contractor in connection with the business of the Company provided such expenses are approved in advance by the Company’s President.

8.   No Benefits .  Contractor acknowledges that he has been hired by the Company as an independent Contractor to perform specific services for the Company.  Contractor acknowledges and agrees that the Company will not provide Contractor with any of the benefits customarily provided by employers to their employees, including but not limited to health and medical or other insurance, pension or profit sharing, paid vacation or other benefits.  Contractor further acknowledges that the Company will not withhold taxes from Contractor’s compensation and that Contractor is responsible for the payment of any and all applicable taxes on his earnings.

9.   Expenses of Litigation .  If any action, suit, or proceeding is brought by a party with respect to a matter or matters governed by this Agreement, all costs and expenses of the prevailing party incurred in connection with such proceeding, including reasonable attorneys’ fees, shall be paid by the nonprevailing party.

10.   No Assignment .  This Agreement may not be assigned by either party without the prior written consent of the other party.

11.   Notices .  All notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given on the date received if delivered by hand, mailed, postage prepaid, by certified or registered mail, return receipt request­ed, or sent by a commercially recognized means of overnight delivery providing proof of receipt, and addressed as follows:

If to the Company:                                               David Tobias, President
Ultra Sun Corporation
8174 S. Las Vegas Blvd., Suite 109-540
Las Vegas, Nevada 89123

If to Consultant:                                                   Neil Blosch
1532 East St. Marks Court
Salt Lake City, Utah 84124
 
Notice of change of address shall be effective only when made in accordance with this Section.

12.   Governing Law .  This Agreement is being executed and delivered in the state of Utah and shall be governed by and construed in accordance with the laws of the State of Utah.

13.   Severability .  In the event any provision of this Agreement, or the application of any such provision to any person or circumstance, shall conflict with or be held invalid or unen­forceable under the laws of any jurisdiction by a court having jurisdiction in the premises, then such conflict shall not affect any other provision of this Agreement which can be given effect without the conflicting provision, and the

 
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remainder of this Agreement or the application of such provisions to persons or circumstances other than those as to which such provisions are held invalid or unenforceable, shall not be affected thereby.  The invalidity or unenforceability of this Agreement or any provisions thereof in any jurisdiction shall not affect the validity or enforceability of this Agreement or of such provision in any other jurisdiction.  To this end, the provisions of this Agreement are declared to be severable.

14.   Counterparts and Headings .  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.  All headings in this Agreement are inserted for convenience or reference and shall not affect the meaning or interpretation of this Agreement.

15.   Binding Effect .  The obligations to be performed hereunder shall bind, and the benefits shall inure to, the parties and their respective legal representatives, successors and assigns.

IN WITNESS THEREOF, this Agreement has been executed as of the date first above written.

 
The Company:
 
 
Ultra Sun Corporation
A Nevada Corporation
 
 
By /s/ David Tobias
David Tobias
President
 
Contractor:
 
 
/s/ Neil Blosch
Neil Blosch
 

 
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Exhibit 10.2
 
$7,100
 
 
Salt Lake City, Utah
July 12, 2013
 
 
PROMISSORY NOTE

FOR VALUE RECEIVED, subject to the terms and conditions of this Note, the undersigned, Ultra Sun Corporation, a Nevada corporation (the “Company”), hereby promises to pay to the order of Kirk Blosch, Neil Blosch, and Jeff Holmes (collectively, “Payee”), at 1532 East St. Marks Court, Salt Lake City, Utah 84124, the principal amount of Seven Thousand One Hundred Dollars ($7,100), together with interest thereon at the rate of six percent (6%) per annum, payable on or before the earlier of December 31, 2013 or the date the tanning salon owned by the Company (the “Salon”) is sold.

This Note shall be paid solely from the proceeds to be received by the Company from the sale of the Salon and the payment of this Note is expressly made contingent on the receipt of adequate proceeds from the sale of the Salon to do so.  In the event the Salon is sold, the sales proceeds shall be applied first to pay Neil Blosch an incentive bonus in the amount of Fifty Thousand Dollars ($50,000); second to hold for the benefit of the Company the amount of any net loss incurred by the tanning salon (that is, operating costs the tanning salon was not able to pay from its income in its ordinary course of business) during the period from April 1, 2013 through the date the tanning salon is sold; third to pay the outstanding balance of principal and interest of this Note; and fourth to pay fifty percent (50%) of the remaining sales proceeds (up to a maximum of an additional $25,000) to Neil Blosch as an additional incentive bonus.  In the event the sales proceeds from the Salon are not adequate to pay the foregoing amounts, the proceeds shall be applied in the order of priority set forth above until they have been exhausted.  If the sales proceeds from the sale of the Salon (after deducting the $50,000 incentive bonus to Neil Blosch and the amount of any net loss from the tanning salon operations from April 1, 2013 through the sale date) are not adequate to pay this Note in full, such proceeds shall be applied to the repayment of this Note to the extent available and the outstanding balance of this Note shall automatically be deemed to constitute a contribution by Payee to the capital of the Company.

If this Note is collected by an attorney after default in the payment of principal or interest, either with or without suit, the undersigned agrees to pay all costs and expenses of collection including a reasonable attorney's fee.

The undersigned hereby waives presentment for payment, demand and notice of dishonor and nonpayment of this Note, and consents to any and all extensions of time, renewals, waivers or modifications that may be granted by the holder hereof with respect to the payment or other provisions of this Note.

IN WITNESS WHEREOF, the undersigned has executed this Promissory Note effective as of the date first written above.

Ultra Sun Corporation

By /s/ David Tobias
David Tobias
President

ACKNOWLEGED and AGREED To as of the 12th day of July 2013.
 
  /s/ Kirk Blosch
Kirk Blosch
 
  /s/ Jeff Holmes
Jeff Holmes
/s/ Neil Blosch
Neil Blosch
 
 
 

 
 

 
Exhibit 10.3

NEITHER THIS CONVERTIBLE PROMISSORY NOTE (THIS “ NOTE ”), NOR THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF, HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ SECURITIES ACT ”), OR ANY OTHER APPLICABLE FEDERAL OR STATE SECURITIES LAWS, AND HAVE BEEN ISSUED AND SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SUCH LAWS, INCLUDING, WITHOUT LIMITATION, THE EXEMPTION CONTAINED IN SECTION 4(2) OF THE SECURITIES ACT.  NEITHER THIS NOTE NOR SUCH SECURITIES MAY BE SOLD OR TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT HAS BECOME AND IS THEN EFFECTIVE WITH RESPECT TO SUCH SECURITIES, (2) THIS NOTE OR SUCH SECURITIES, AS APPLICABLE, IS TRANSFERRED PURSUANT TO RULE 144 PROMULGATED UNDER THE SECURITIES ACT (OR ANY SUCCESSOR RULE) OR (3) THE COMPANY (AS HEREINAFTER DEFINED) HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT, TO THE EFFECT THAT THE PROPOSED SALE OR TRANSFER OF THIS NOTE OR SUCH SECURITIES IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND ALL OTHER APPLICABLE FEDERAL OR STATE SECURITIES LAWS.
 

US$______
April 22, 2013

ULTRA SUN CORPORATION

CONVERTIBLE PROMISSORY NOTE

FOR VALUE RECEIVED , Ultra Sun Corporation, a Nevada corporation (the “Company”), hereby promises to pay to the order of __________, a _________, or such person’s successors and assigns (collectively, the “Holder”), at the address of Holder set forth on the signature page hereto, or at such other place as Holder may designate, the principal amount of __________________ and No/100 U.S. Dollars (US$________) (“Principal”), together with all accrued and unpaid interest hereunder, on or before May 31, 2016  (the “Maturity Date”).  Interest shall accrue and be payable as specified in Section 2 .

This Note and a ______ note to Holder dated of even date herewith in the principal amount of $________ are being issued to consolidate and replace the following promissory notes that were previously issued by the Company to Holder: (i) the 8% Note dated _________ in the principal amount of $________; (ii) the 8% Note dated _________ in the principal amount of $________; (iii) the 8% Note dated ____________ in the principal amount of $_______; and (iv) the 8% Note dated ________ in the principal amount of $________, together with accrued and unpaid interest on such notes from their respective dates of issuance through the date of this Note in the aggregate amount of $________.  The Holder has not given or paid any consideration to the Company in connection with the consolidation of such notes or the provisions herein with respect to the conversion of this Note into shares of the Company’s common stock.

This Note is convertible into securities of the Company as provided herein.

The following is a statement of the rights of the Holder and certain conditions to which this Note is subject, and to which the Holder, by the acceptance of this Note, agrees:

 
1.   Definitions . As used in this Note, the following capitalized terms have the following meanings:

 
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(a) “ Business Day ” means a day (i) other than Saturday or Sunday, and (ii) on which commercial banks are open for business in the State of Utah.
 
(b) “ Default Rate ” means an interest rate of fifteen percent (15%) per annum.
 
(c) “ Event of Default ” has the meaning given in Section 6 hereof.
 
(d) “ Highest Lawful Rate ” means the maximum non-usurious rate of interest, as in effect from time to time, which may be charged, contracted for, reserved, received or collected by the Holder in connection with this Note under applicable law.
 
(e) “ Holder ” shall mean the person specified in the introductory paragraph of this Note or any Person who shall at the time be the registered holder of this Note.
 
(f) “ Note ” shall mean this Convertible Promissory Note.
 
(g) “ Obligations ” means all debts, liabilities and obligations of the Company to the Holder under this Note, including all unpaid Principal of this Note, all Interest accrued hereon, and all other amounts payable by the Company to the Holder hereunder, whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined.
 
2.   Interest .  Interest shall accrue on all outstanding Principal from the date hereof until paid at a rate of Eight Percent (8%) per annum (“Interest”).  Interest shall be computed on the basis of the actual number of days elapsed and a year of three hundred sixty (360) days.  During the existence of an Event of Default, Interest shall accrue on all outstanding Principal at the Default Rate.
 
3.   Prepayment .  The Principal and Interest may not be prepaid by the Company without the prior written consent of the Holder.

4.   Conversion .

(a)  Until the repayment in full of this Note, in the sole and absolute discretion of the Holder, the Principal (but not the Interest) of this Note shall be convertible at any time, and from time to time, into that number of shares of the Company’s common stock, par value $0.001 (the “Shares”), that would constitute Four and Twenty-Five Hundredths Percent (4.25%) of the issued and outstanding shares of the Company’s common stock on the conversion date, after giving effect to the issuance of shares upon such conversion, for each Ten Thousand Dollars ($10,000) in Principal converted.  No fractional shares shall be issued in connection with the conversion of this Note and any fractional shares that would otherwise be issuable shall be rounded to the nearest whole share.  For purposes of illustration only, assuming that on the date of conversion the Company had 50,000,000 shares of common stock issued and outstanding, the conversion of $10,000 in Principal of this Note would result in the issuance to the Holder of 2,219,321 shares of the Company’s common stock (50,000,000/.9575 = 52,219,321.15; 52,219,321 – 50,000,000 = 2,219,321).  The conversion of this Note may be effected by the Holder from time to time up to a maximum of four occurrences by submitting to the Company a notice of conversion in substantially the same form as that attached hereto as Exhibit “A.”  This Note may be converted in Principal amounts less than or greater than $10,000, in which event the conversion rate shall be applied on a pro rata basis.  Notwithstanding the foregoing, in no event shall this Note be convertible for an amount of Principal less than $2,000 unless the then outstanding Principal balance of the Note is less than $2,000 and the entire outstanding balance is converted.

(b)  On each conversion date the Company shall pay to the Holder the accrued and unpaid Interest through the conversion date and shall make the appropriate reduction to the Principal due and payable on such date and shall provide written notice thereof to the Holder as well as a description of the derivation

 
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thereof.  Within three (3) business days following each conversion date, the Company shall issue instructions to its transfer agent to issue the required number of Shares to the Holder.  The Shares shall be deemed to have been issued on the date the notice of conversion is received by the Company.  The Holder shall be treated for all purposes as the holder of record of the Shares unless the Holder provides the Company with written instructions to the contrary or as otherwise required by law.

(c)  If the Company shall at any time from the date hereof through the repayment of this Note in full or the earlier conversion in full hereof, by reclassification or otherwise, change the Company’s common stock into the same or a different number of securities of any class or classes, or effect a split or reverse split of the Company’s common stock, this Note, as to the unpaid Principal, shall continue to evidence the right purchase Four and Twenty-Five Hundredths Percent (4.25%) of the then issued and outstanding shares of the Company’s common stock for each $10,000 of Principal converted and such conversion ratio shall not be adjusted as a result of such reclassification or other action.

(d)  The Company covenants that until the repayment in full of this Note or the earlier conversion in full hereof, the Company will reserve from its respective authorized and unissued shares of common stock a sufficient number of shares, free of preemptive rights, to provide for the issuance of the Shares upon the full conversion of this Note.  The Company is required to have authorized and reserved such number of shares of Company common stock as is actually issuable upon full conversion of this Note.  The Company represents that upon issuance of the Shares, such Shares shall be duly and validly issued, fully paid, and nonassessable.  The Company agrees that its issuance of this Note shall constitute full authority to the respective officers and agents of the Company who are charged with the duty of executing certificates, if any, to execute and issue the necessary Shares in accordance with the terms and conditions of this Note.

(e)  Upon any partial conversion of this Note pursuant to Section 3(b) , a new Note containing the same date, terms, and provisions shall, at the request of the Holder, be issued by the Company to the Holder for the Principal balance of this Note and the Interest which shall not have theretofore been paid.

(f)  No fraction of a Share will be issued upon conversion, but the number of such Shares issuable shall be rounded to the nearest whole Share.

(g)  Nothing contained in this Note shall be construed as conferring upon the Holder or any other person or entity the right to vote or to consent or to receive notice as a shareholder in respect of meeting of shareholders for the election of directors of the Company or any other matters or any rights whatsoever as a shareholder of the Company; and no dividends shall be payable or accrued in respect of this Note.

(h)  If at any time during the three year period following the automatic or voluntary conversion of this Note, the Company shall determine to prepare and file with the United States Securities and Exchange Commission (the “SEC”) a registration statement relating to an offering for its own account or the account of others under the Securities Act of 1933, as amended (the “Securities Act”) of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with the Company’s stock option or other employee benefit plans, then the Company shall deliver to the Purchaser a written notice of such determination and, if within twenty (20) days after the date of the delivery of such notice, the Purchaser shall so request in writing, the Company shall at its expense include in such registration statement all or any part of the Shares acquired by Purchaser upon conversion of this Note which the Purchaser requests to be registered; provided, however, that the Company shall not be required to register any securities pursuant to this Section 3(i) that are eligible for resale pursuant to Rule 144 (without volume restrictions or current public information requirements) promulgated by the Securities and Exchange Commission

 
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pursuant to the Securities Act or that are the subject of a then effective registration statement.  If the registration, as described above, involves an underwritten offering, the Company will not be required to register the Shares in excess of the amount that the principal underwriter reasonably and in good faith recommends may be included in such offering (a “Cutback”), which recommendation, and supporting reasoning, shall be delivered to the Holder.  If such a Cutback occurs, the number of shares that are entitled to be included in the registration and underwriting shall be allocated in the following manner: (i) first, to the Company for any securities it proposes to sell for its own account, and (ii) second, to the Holder and other holders of stock of the Company requesting inclusion in the registration, pro rata among the respective holders thereof on the basis of the number of shares for which each such requesting holder has requested registration.

5.   Highest Lawful Rate . Notwithstanding any provision to the contrary contained herein, if during any period for which Interest is computed hereunder, the amount of Interest computed on the basis provided for in this Note, together with all fees, charges and other payments which are treated as interest under applicable law, as provided for herein or in any other document executed in connection herewith, would exceed the amount of such Interest computed on the basis of the Highest Lawful Rate, the Company shall not be obligated to pay, and the Holder shall not be entitled to charge, collect, receive, reserve or take Interest in excess of the Highest Lawful Rate, and during any such period the Interest payable hereunder shall be computed on the basis of the Highest Lawful Rate.
 
6.   Events of Default . Any of the following events which shall occur shall constitute an “Event of Default”:
 
(a) the Company shall fail to pay when due any amount of Principal or Interest hereunder or other amount payable hereunder; or
 
(b) the Company shall: (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or any material part of its property; (ii) admit in writing its inability to pay its debts generally as they become due; (iii) make a general assignment for the benefit of any of its creditors; (iv) be dissolved or liquidated in full or in part; (v) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it; or (vi) take or approve any action for the purpose of effecting any of the foregoing; or
 
(c) proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or any material part of its property, or a voluntary or involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect, shall be commenced and such involuntary case or proceeding shall not be dismissed or discharged within sixty (60) days of commencement; or an order for relief shall be entered against the Company under the federal bankruptcy laws as now or hereafter in effect; or
 
 (d) a default or event of default under any agreement of the Company shall occur that gives the holder of any other indebtedness for borrowed money of the Company the right to accelerate the maturity of such indebtedness; or
 
 (e) a default or event of default shall occur under any agreement of the Company that could reasonably be expected to result in damages in excess of $25,000 and Holder shall not have consented in writing to the occurrence of such default; or

 
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(f) the Company shall fail to observe or perform any other covenant, obligation, condition or agreement contained in this Note and (i) such failure shall continue for fifteen (15) days, or (ii) if such failure is not curable within such fifteen (15) day period, but is reasonably capable of cure within thirty (30) days, either (A) such failure shall continue for thirty (30) days or (B) the Company shall not have commenced a cure in a manner reasonably satisfactory to Holder within the initial fifteen (15) day period; or
 
(g) any representation or warranty made or furnished by or on behalf of Company to Holder in writing in connection with this Note shall be false, incorrect, incomplete or misleading in any material respect when made or furnished.
 
Upon the occurrence of any Event of Default, (x) the Holder may at any time declare all unpaid Obligations to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Company; (y) the Holder may exercise all rights and remedies available to the Holder hereunder and applicable law, and (z) in the case of an Event of Default described in Section 6(b) or 6(c) , all unpaid Obligations shall automatically become immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly and irrevocably waived by the Company.

7.   Representations of Holder .  Holder represents that this Note is being acquired without a view to, or for resale in connection with, any distribution of such Note or any interest herein without registration or other compliance under the Securities Act of 1933, as amended (the “Securities Act”), and that Holder has no direct or indirect participation in any such undertaking or in the underwriting of such an undertaking. Holder understands that neither this Note nor the shares of common stock issuable upon conversion hereof have been registered, but are being acquired by reason of a specific exemption under the Securities Act as well as under certain state statutes for transactions by an issuer not involving any public offering.  Holder acknowledges that this Note and any shares issued upon conversion hereof must be held and may not be sold, transferred, or otherwise disposed of for value unless they are subsequently registered under the Securities Act or an exemption from such registration is available; except as expressly set forth herein the Company is under no obligation to register the Shares under the Securities Act or the Securities Exchange Act of 1934, as amended; the Company’s registrar and transfer agent will maintain a stop transfer order against the registration of transfer of this Note; and this Note and the certificates for any shares issued upon conversion hereof will be bear a legend restricting their further transfer in the absence of compliance with the Securities Act.
 
8.   Successors and Assigns . Subject to the restrictions on transfer described in Section 10 , the rights and obligations of the Company and the Holder hereunder shall be binding upon and inure to the benefit of the successors, assigns, heirs, administrators and transferees of the parties.
 
9.   Amendments and Waivers . This Note may not be amended or modified, nor may any of its terms be waived, except by written instruments signed by the Company and Holder.  Each waiver or consent under any provision hereof shall be effective only in the specific instances for the purpose for which given.

10.   Transfer of this Note . Transfers of this Note shall be registered upon registration books maintained for such purpose by or on behalf of the Company.  Prior to presentation of this Note for registration of transfer, the Company shall treat the registered Holder hereof as the owner and the Holder of this Note for the purpose of receiving all payments of Principal and Interest hereon and for all other purposes whatsoever, whether or not this Note shall be overdue and the Company shall not be affected by notice to the contrary.
 
 
 
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11.   Assignment or Delegation by the Company . Neither this Note nor any of the rights, interests or obligations hereunder may be assigned or delegated in whole or in part by the Company without the prior written consent of Holder.
 
12.   Notices . Except as otherwise provided herein, all notices, requests, demands, consents, instructions or other communications to or upon the Company or Holder under this Note shall be in writing and mailed or delivered to each party to its address set forth on the signature page hereto (or to such other address as the recipient of any notice shall have notified the other in writing).  All such notices and communications shall be effective (a) when sent by a commercially recognized means of overnight delivery providing confirmation of receipt, on the business day following the deposit with such service; (b) when mailed, by registered or certified mail, first class postage prepaid and addressed as aforesaid through the United States Postal Service, upon receipt; and (c) when delivered by hand, upon delivery.
 
13.   Expenses; Waivers . In the event that either party hereto institutes any action or suit to enforce this Note or to secure relief from any default hereunder or breach hereof, the non-prevailing party in such action or suit shall reimburse the prevailing party for all costs and expenses, including reasonable attorneys’ fees, incurred in connection therewith. The Company hereby waives notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to this instrument.
 
14.   Further Assurance . The Company shall execute, acknowledge, deliver, file, notarize and register (at its own expense) all documents, instruments, certificates, agreements and assurances and provide all information and take or forbear from all such action as the Holder may reasonably deem necessary or appropriate to achieve the purposes of the Note or satisfy the obligations of the Company hereunder.
 
15.   Severability . Whenever possible, each provision of this Note shall be interpreted in such manner as to be effective and valid under all applicable laws and regulations. If, however, any provision of this Note shall be prohibited by or be invalid under any such law or regulation in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law or regulation, or, if for any reason it is not deemed so modified, it shall be ineffective and invalid only to the extent of such prohibition or invalidity without affecting the remaining provisions of this Note, or the validity or effectiveness of such provision in any other jurisdiction.
 
16.   Cumulative Rights, etc . The rights, powers and remedies of Holder under this Note shall be in addition to all rights, powers and remedies given to Holder by virtue of any applicable law, rule or regulation of any governmental authority or any other agreement, all of which rights, powers, and remedies shall be cumulative and may be exercised successively or concurrently without impairing Holder’s rights hereunder. The Company waives any right to require Holder to proceed against any person or entity or to exhaust any collateral or to pursue any remedy in Holder’s power.
 
17.   No Waiver . No course of dealing between the Company and the Holder or any delay on the part of the Holder in exercising any rights or remedies shall operate as a waiver of any such right or remedy of the Holder.
 
18.   Construction .  This Note is the result of negotiations among, and has been reviewed by, the Company and Holder and this Note shall be deemed to be the product of all parties hereto, and no ambiguity shall be construed in favor of or against the Company or Holder.
 
19.   Governing Law and Jurisdiction . This Note and all actions arising out of or in connection with this Note shall be governed by and construed in accordance with the internal laws of the State of Utah, without regard to the conflicts of law rules of the State of Utah or of any other jurisdiction.
 
 
 
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20.   Waiver of Jury Trial . EACH OF THE COMPANY AND THE HOLDER, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY AS TO ANY ISSUE RELATED HERETO IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS NOTE.
 
IN WITNESS WHEREOF, this Note has been executed by the Company as of the date first above written.
 
The Company:
Ultra Sun Corporation
A Nevada Corporation


By _________________________
Neil Blosch
President

Address:                1532 East St. Marks Court
Salt Lake City, Utah 84124
 

 
Acknowledged and agreed to effective as of April 22, 2013.
 
The Holder:
 
_______________________________________
________________

Address:               
_____________________________
_____________________________


 
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Ultra Sun Corporation
 

Schedule of 8% Convertible Promissory Notes Beneficially Owned by
Directors, Executive Officers and 10% or Greater Stockholders

The following table sets forth the name and principal amount (as of April 22, 2013) of convertible promissory notes beneficially owned by each director, executive officer and 10% or greater stockholder of Ultra Sun Corporation.

Name
Principal Amount of Notes Held
David Tobias
$30,871.64
Sadia Barrameda (1)
$36,240.62
   
   
 
 
(1)   Includes convertible promissory notes held by New Compendium Corporation of which Ms. Barrameda may be deemed to be the beneficial owner as a result of her status as an officer, director and controlling stockholder of New Compendium.
 

 
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Exhibit 21.1

Ultra Sun Corporation Schedule of Subsidiaries

The Company has the following subsidiary:

Wild Earth Naturals, Inc., a Nevada corporation.


 
 

 


Exhibit 99.1
FOR IMMEDIATE RELEASE
JULY 18, 2013

ULTRA SUN CORPORATION
COMPLETES REVERSE MERGER TRANSACTION WITH
WILD EARTH NATURALS, INC.

MESQUITE, NEVADA – Ultra Sun Corporation (OTC Bulletin Board: USUN ) announced today that on July 12, 2013 it consummated a “reverse merger” transaction with Wild Earth Naturals, Inc., a Nevada corporation (“Wild Earth”), in which Wild Earth became a wholly owned subsidiary of Ultra Sun.

Wild Earth is a development stage herbal skin care products formulation and marketing company that plans to target the growing natural health care products market in the United States and abroad.  Wild Earth plans to develop and manufacture high-quality, herbal based skin care products providing healthier choices to consumers.   Prior to the consummation of the merger, Ultra Sun was engaged in the tanning salon business.  That business will be discontinued as a result of the merger.

"The successful completion of the merger represents a major milestone for Wild Earth Naturals, positioning the company for growth," said David Tobias, President.  We believe this "going-public" transaction will enable us to grow our business and launch Wild Earth Naturals’ initial product line.”

Additional information regarding the merger transaction is set forth in the Company's Current Report on Form 8-K dated July 18, 2013, which will be filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains “forward-looking statements.” Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements.  Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows.  If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contact:
David Tobias
702-758-8772