U.S. 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):

September 17, 2018

 

 

NOBLE VICI GROUP, INC.

(Exact name of small business issuer as specified in its charter)

 

Delaware   000-54761   42-1772663

(State or other jurisdiction

of incorporation)

  (Commission File Number)   (IRS Employer ID No.)

 

1 Raffles Place, #33-02

One Raffles Place Tower One

Singapore 048616

 (Address of principal executive offices)

 

+65 6491 7998

(Issuer's Telephone Number)

 

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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company       o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.       o

 

 

 

     

 

 

Item 3.02    Unregistered Sales of Equity Securities

 

On September 17, 2018, NOBLE VICI GROUP, INC. (“we”, “us” or the “Company”), consummated the acquisition of a 51% controlling interest in The Digital Agency Private Limited, a private limited company organized under the laws of Singapore (“TDA”), and a start-up digital marketing company, in accordance with the terms of that certain Share Exchange Agreement by and among the Company, Noble Infotech Applications Private Limited, a private limited company organized under the laws of Singapore and our wholly owned subsidiary (“NIA”), TDA and Mok Jo Han (“the “TDA Share Exchange Agreement”). Pursuant to the terms of the TDA Share Exchange Agreement, we acquired 51 ordinary shares of TDA, representing approximately fifty-one percent (51%) of the issued and outstanding ordinary shares of TDA, in exchange for 510,000 shares of common stock of the Company, par value $0.0001 (the “TDA Shares”), representing an exchange ratio of ONE (1) ordinary share of TDA for Ten Thousand (10,000) shares of common stock of the Company, at a valuation of $2.00 per share of the Company, for an aggregate value of $1,020,000. The TDA Shares were sold pursuant to the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation S promulgated thereunder. The foregoing description of the TDA Share Exchange Agreement is qualified in its entirety by reference to such agreement which is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference.

 

On September 17, 2018, we consummated the acquisition of a 51% controlling interest in Noble Digital Apps Sendirian Berhad , a private limited company organized under the laws of Malaysia (“NDA”), and a start-up digital apps and big data company in accordance with the terms of that certain Share Exchange Agreement by and among the Company, NIA, NDA, Cheng Bok Woon, Tan Yew Fui, and Yong Swee Sun (“the “NDA Share Exchange Agreement”). Pursuant to the terms of the NDA Share Exchange Agreement, we acquired 510 ordinary shares of NDA, representing approximately fifty-one percent (51%) of the issued and outstanding ordinary shares of NDA, in exchange for 510,000 shares of common stock of the Company, par value $0.0001 (the “NDA Shares”), representing an exchange ratio of ONE (1) ordinary share of NDA for One Thousand (1,000) shares of common stock of the Company, at a valuation of $2.00 per share of the Company, for an aggregate value of $1,020,000. The NDA Shares were sold pursuant to the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation S promulgated thereunder. The foregoing description of the NDA Share Exchange Agreement is qualified in its entirety by reference to such agreement which is filed as Exhibit 10.2 to this Current Report and is incorporated herein by reference.

 

 

Item 8.01 Other Events

 

On September 17, 2018, our Board of Directors, approved the issuance of up to an aggregate of Nine Million One Hundred Thirty Five Thousand Seven Hundred Ninety Four (9,135,794) shares of our common stock, par value $0.0001, representing approximately 6% of our issued and outstanding common stock, at a per share price of One Dollars and Ninety Nine Cents (US $1.99), to approximately 460 sales associates for prior sales and marketing services provided to us and our subsidiaries and affiliates . As a condition of receipt of such securities, each recipient will be required to execute one of two standard forms of Stockholder Representation Letters, which will contain, among other things, restrictions prohibiting the transfer of such securities for a minimum period of 18 months up to a maximum period of 66 months after the execution of such letter. The Board expects to make such issuances within the next new months after the filing of this report.

 

The securities will be issued pursuant to the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation S promulgated thereunder. The foregoing description of the Stockholder Representation Letters is qualified in its entirety by reference to such agreements which are filed as Exhibit 10.3 to this Current Report and are incorporated herein by reference.

 

 

Item 9.01. Financial Statements and Exhibits.

 

(d). Exhibits.

 

Number   Exhibit
     
10.1   Share Exchange Agreement, dated September  17, 2018, by and among the Company, Noble Infotech Applications Private Limited, The Digital Agency Private Limited, and Mok Jo Han.
10.2   Share Exchange Agreement, dated September 17, 2018, by and among the Company, Noble Infotech Applications Private Limited, Noble Digital Apps Sendirian Berhad, Cheng Bok Woon, Tan Yew Fui, and Yong Swee Sun.
10.3   Forms of Stockholder Representation Letters

 

 

 

 

  2  

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amended report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

  NOBLE VICI GROUP, INC.
  (Registrant)
     
Dated:  September 17, 2018 By:   /s/ Eldee Tang
   

Eldee Tang

Chief Executive Officer

 

 

 

 

 

 

  3  

 

Exhibit 10.1

 

SHARE EXCHANGE AGREEMENT

 

This SHARE EXCHANGE AGREEMENT (hereinafter referred to as “this Agreement”) dated as of September 17, 2018, by and among Noble Vici Group, Inc., a Delaware corporation (“NVGI” or the “Company”), Noble Infotech Applications Private Limited, a private limited company incorporated under the laws of Singapore (“NIA”), The Digital Agency Private Limited, a private limited company incorporated under the laws of Singapore (“TDA”) and each of the undersigned parties (each, an “Investor,” and collectively, the “Investors”).

 

W I T N E S S E T H:

 

WHEREAS, TDA, a Singapore corporation, is in the digital marketing business;

 

WHEREAS, NVGI desires to acquire, through its subsidiary Noble Infotech Applications Private Limited (“NIA”), a Singapore corporation, and the Investors desire to sell, up to Fifty One Percent (51%) of TDA, or up to Fifty One (51) shares of the issued and outstanding ordinary shares of TDA (“TDA Ordinary Stock”), from the Investors in consideration of up to Five Hundred and Ten Thousand (510,000) shares of NVGI’s common stock, par value $0.0001 (“Common Stock”), at a value of $2.00 per share of Common Stock (the “Exchange”), on the terms and conditions set forth below;

 

WHEREAS, the parties herein desire the Exchange to be a tax-free exchange under the Internal Revenue Code.

 

NOW, THEREFORE, in consideration of the premises and of the mutual representations, warranties and agreements set forth herein, the parties hereto agree as follows:

 

ARTICLE I

Definitions

 

In addition to terms defined elsewhere in this Agreement, the following terms when used in this Agreement shall have the meanings indicated below:

 

Affiliate ” shall mean with respect to a specified Person, any other Person which, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with such Person, and without limiting the generality of the foregoing, includes, with respect to a Person (a) any other Person which beneficially owns or holds ten percent (10%) or more of any class of voting securities or other securities convertible into voting securities of such Person or beneficially owns or holds ten percent (10%) or more of any other equity interests in such Person, (b) any other Person with respect to which such Person beneficially owns or holds ten percent (10%) or more of any class of voting securities or other securities convertible into voting securities of such Person, or owns or holds ten percent (10%) or more of the equity interests of the other Person, and (c) any director or senior officer of such Person. For purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise.

 

Agreement ” shall mean this Share Exchange Agreement together with all exhibits and schedules referred to herein, which exhibits and schedules are incorporated herein and made a part hereof.

 

Closing ” shall have the meaning set forth in Section 2.2.

 

Closing Date ” shall mean the date that the Closing takes place.

 

Code ” shall mean the Internal Revenue Code of 1986, as amended.

 

Commission or SEC ” shall mean the United States Securities and Exchange Commission.

 

 

 

  1  

 

 

Commission Reports ” shall mean the Forms 10-K, 10-Q, 8-K, and other Commission reports required by or filed pursuant to the Securities Exchange Act of 1934, as amended, and Securities Act of 1933, as amended, which have been filed by the Company with the Commission as at the date of this Agreement.

 

Company ” shall have the meaning set forth in the recitals.

 

Company Common Stock ” shall mean the common stock of the Company at par value of USD0.0001 per share.

 

Company Loss ” shall have the meaning set forth in Section 5.5.

 

Confidential Information ” means any information concerning the businesses and affairs of TDA or the Company that is not already generally available to the public.

 

Consideration ” shall mean the consideration of Five Hundred and Ten Thousand (510,000) shares of the Company’s Common Stock, par value $0.0001, to be issued by the Company to the Investors for the acquisition by the Company of Fifty One (51) shares of the TDA Ordinary Stock (representing approximately 51% of the total issued and outstanding shares of the TDA Ordinary Stock).

 

Effective Time ” shall have the meaning set forth in Section 2.3.

 

Environmental Laws ” shall have the meaning set forth in Section 3.18.

 

Exchange ” shall have the meaning set forth in the recitals.

 

Exchange Act ” shall mean the Securities Exchange Act of 1934, as amended.

 

Exchange Documents ” shall have the meaning set forth in Section 3.2.

 

Financial Statements ” shall mean, if relevant, TDA’s balance sheets, statement of operations, changes in stockholders’ equity and cash flow as of and for the fiscal years ended March 31, 2018 and 2017, and the six month period ended June 30, 2018. Financial statements for the years ended March 31, 2018 and 2017, shall be audited, in accordance with US GAAP by a PCAOB registered auditor acceptable to TDA in its discretion.

 

GAAP ” shall mean United States generally accepted accounting principles.

 

Guaranty ” shall mean, as to any Person, all liabilities or obligations of such Person, with respect to any indebtedness or other obligations of any other Person, which have been guaranteed, directly or indirectly, in any manner by such Person, through an agreement, contingent or otherwise, to purchase such indebtedness or obligation, or to purchase or sell property or services, primarily for the purpose of enabling the debtor to make payment of such indebtedness or obligation or to guarantee the payment to the owner of such indebtedness or obligation against loss, or to supply funds to or in any manner invest in the debtor.

 

Investor Representative ” shall have the meaning set forth in Section 2.6.

 

Investors ” shall have the meaning set forth in the recitals.

 

Investments ” shall mean, with respect to any Person, all advances, loans or extensions of credit to any other Person (except for extensions of credit to customers in the ordinary course of business), all purchases or commitments to purchase any stock, bonds, notes, debentures or other securities of any other Person, and any other investment in any other Person, including partnerships or joint ventures (whether by capital contribution or otherwise) or other similar arrangement (whether written or oral) with any Person, including, but not limited to, arrangements in which (i) the first Person shares profits and losses of the other Person, (ii) any such other Person has the right to obligate or bind the first Person to any third party, or (iii) the first Person may be wholly or partially liable for the debts or obligations of such partnership, joint venture or other entity.

 

 

 

  2  

 

 

Knowledge ” shall mean, in the case of any Person who is an individual, knowledge that a reasonable individual under similar circumstances would have after such reasonable investigation and inquiry as such reasonable individual would under such similar circumstances make, and in the case of a Person other than an individual, the knowledge that a senior officer, director or manager of such Person, or any other Person having responsibility for the particular subject matter at issue of such Person, would have after such reasonable investigation and inquiry as such senior officer, director, manager or responsible Person would under such similar circumstances make.

 

Law ” and “ Laws ” shall mean any federal, state, local or foreign statute, law, ordinance, regulation, rule, code, order or other requirement or rule of law.

 

Liabilities ” shall mean any direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, fixed or unfixed, choate or inchoate, liquidated or unliquidated, secured or unsecured, accrued, absolute, contingent or otherwise, including, without limitation, liabilities on account of taxes, other governmental charges or Litigation, whether or not of a kind required by GAAP to be set forth on a financial statement.

 

Litigation ” shall mean any actions, suits, investigations, claims or proceedings.

 

Material Adverse Effect ” shall mean any event or condition of any character which has had or could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), results of operations, assets, liabilities, properties, or business of the Company or TDA, as applicable.

 

Person ” shall mean any natural person, corporation, unincorporated organization, partnership, association, limited liability company, joint stock company, joint venture, trust or government, or any agency or political subdivision of any government or any other entity.

 

TDA ” shall mean The Digital Agency Private Limited (Company No.: 201812579D), a Singapore company incorporated under the laws of Singapore having its registered office at 7 1 Ayer Rajah Crescent, #03-01, Singapore 139951 , Singapore.

 

TDA Certificates ” shall have the meaning set forth in Section 2.4.

 

TDA Ordinary Stock ” shall mean the ordinary stock of TDA.

 

Securities Act ” shall mean the Securities Act of 1933, as amended.

 

Sold TDA Stock ” shall have the meaning set forth in Section 2.4.

 

Subsidiary ” of any Person shall mean any Person, whether or not capitalized, in which such Person owns, directly or indirectly, an equity interest of more than fifty percent (50%), or which may effectively be controlled, directly or indirectly, by such Person.

 

Tax ” and “ Taxes ” shall mean (i) all income, excise, gross receipts, ad valorem, sales, use, employment, franchise, profits, gains, property, transfer, payroll, withholding, severance, occupation, social security, unemployment compensation, alternative minimum, value added, intangibles or other taxes, fees, stamp taxes, duties, charges, levies or assessments of any kind whatsoever (whether payable directly or by withholding), together with any interest and any penalties, fines, additions to tax or additional amounts imposed by any governmental or regulatory authority with respect thereto, (ii) any liability for the payment of any amounts of the type described in (i) as a result of being a member of a consolidated, combined, unitary or aggregate group for any Taxable period, and (iii) any liability for the payment of any amounts of the type described in (i) or (ii) as a result of being a transferee or successor to any person or as a result of any express or implied obligation to indemnify any other Person.

 

Tax Returns ” shall mean returns, declarations, reports, claims for refund, information returns or other documents (including any related or supporting schedules, statements or information) filed or required to be filed in connection with the determination, assessment or collection of any Taxes of any party or the administration of any laws, regulations or administrative requirements relating to any Taxes.

 

 

 

  3  

 

 

Termination Date ” shall have the meaning set forth in Section 6.6.

 

The words “hereof”, “herein” and “hereunder” and the words of similar import shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The terms defined in the singular shall have a comparable meaning when used in the plural and vice versa.

 

ARTICLE II

 

Transactions; Terms of Share Exchange; Manner of Exchange

 

2.1        Exchange of Shares . Subject to the terms and conditions of this Agreement, at the Effective Time (as defined below):

 

(a)              At the direction of the Investor Representative, the Company shall issue to the TDA Investors up to an aggregate of 510,000 shares of Company Common Stock in accordance with Section 2.4 hereof;

 

 

(b)              Each Investor shall deliver to the Company the original TDA Certificates evidencing the Sold TDA Stock and all appropriately executed transfer documents in favor of the Company, in order to effectively transfer to the Company, the right, title and interest in and to the Sold TDA Stock;

 

 

(c)              the Exchange shall be consummated pursuant to the terms of this Agreement, which has been approved and adopted by the Boards of Directors of the Company; and

 

(d)              the Securities issued by the Company in connection with this Share Exchange Agreement are issued pursuant to the exemption from registration contained in Regulation S of the Securities Act of 1933.

 

2.2        Time and Place of Closing . The closing of the transactions contemplated hereby (the “Closing”) will take place at 10:00 A.M. on the date following the satisfaction or waiver of all conditions to the obligations of the parties to consummate the transactions contemplated hereby as set forth in Article VI (other than conditions with respect to actions the respective parties will take at the Closing itself) (the “Closing Date”). The Closing shall be held at the principal office of the Company, or at such other location or time as may be mutually agreed upon by the parties. The parties agree to take all necessary and prompt actions so as to complete the Closing on or before September 30, 2018, or at such other date as may be agreed to by the parties in writing.

 

2.3        Effective Time . The Exchange and other transactions contemplated by this Agreement shall become effective on the Closing Date (the “Effective Time”).

 

2.4 Exchange of Shares . At the Closing, the Investors shall surrender all the share certificates or records which represent in the aggregate of Fifty One (51) shares of the TDA Ordinary Stock (representing up to 51% of the total issued and outstanding shares of TDA Ordinary Stock) (collectively, the “Sold TDA Stock”) immediately prior to the Closing Date (the “TDA Certificates”), and the respective Investors shall promptly after the Effective Time receive in exchange therefor that number of shares of the Company Common Stock at an exchange ratio of One TDA Ordinary Stock for Ten Thousand shares of the Company Common Stock.

 

2.5        Legend On Securities . Each certificate for the shares of the Company Common Stock to be issued to any of the Investors as part of the Consideration shall bear substantially the following legend:

 

“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE ‘SECURITIES ACT’), AND MAY NOT BE offered or sold (I) in the united states or to u.s. persons BY OR ON BEHALF OF ANY U.S. PERSON, UNLESS (A) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT IS IN EFFECT WITH RESPECT THERETO OR (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION AND A WRITTEN OPINION FROM COUNSEL FOR THE ISSUER OR COUNSEL FOR THE HOLDER REASONABLY ACCEPTABLE TO THE ISSUER HAS BEEN OBTAINED TO THE EFFECT THAT NO SUCH REGISTRATION IS REQUIRED AND (II) OUTSIDE THE UNITED STATES, UNLESS IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT AND THE PURCHASER IN SUCH TRANSaction PROVIDES A CERTIFICATION to the issuer THAT IT IS A NON-U.S. PERSON. each beneficial holder, by accepting an interest in THE SECURITIES REPRESENTED BY THIS CERTIFICATE, agrees that any hedging transaction involving SUCH SECURITIES MAY not be conducted unless in compliance with the securities Act. TERMS IN THIS LEGEND HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.”

 

 

 

  4  

 

 

2.6        Investor Representative . The Investors hereby designate Tan Hong Hui to serve as the investor representative (the “Investor Representative”). The Investors agree that: (i) the instructions of the Investor Representative to the Company and the acts or omissions of the Investor Representative shall be conclusively deemed to be the instructions, acts or omissions of all of the Investors, and that the Company shall be entitled to rely on such instructions, acts or omissions as if such instructions, actions or omissions were received from or performed or omitted to be performed by all of the Investors; and (ii) all notice and items delivered to the Investor Representative shall be conclusively deemed delivered to all of the Investors.

 

ARTICLE III

 

Representations and Warranties of the Company

 

In order to induce the Investors to enter into this Agreement and to consummate the transactions contemplated hereby, the Company makes the representations and warranties set forth below to TDA and the Investors.

 

3.1        Organization . The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite corporate power and authority to carry on its business as presently conducted. The Company is duly qualified to transact business and is in good standing as a foreign corporation in all jurisdictions where the ownership or leasing of its properties or the conduct of its business requires such qualification except where the failure to so qualify would not have a Material Adverse Effect on the Company.

 

3.2        Authorization; Enforceability . The execution, delivery and performance of this Agreement by the Company and all other agreements to be executed, delivered and performed by the Company pursuant to this Agreement (collectively, the “Exchange Documents”) and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate or individual action on the part of the Company. This Agreement and the Exchange Documents have been duly executed and delivered by the Company, and constitute the legal, valid and binding obligation of the Company, assuming the due authorization, execution and delivery of this Agreement by the Investors, enforceable in accordance with their respective terms, except to the extent that their enforcement is limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’ rights generally and by general principles of equity.

 

3.3        No Violation or Conflict . To the Knowledge of the Company, the execution, delivery and performance of this Agreement and the Exchange Documents by the Company, and the consummation by the Company of the transactions contemplated hereby and thereby: (a) do not violate or conflict with any provision of law or regulation (whether federal, state or local) of the United States of America, or any writ, order or decree of any court or governmental or regulatory authority, or any provision of the Company’s Articles of Incorporation or Bylaws; and (b) do not and will not, with or without the passage of time or the giving of notice, result in the breach of, or constitute a default (or an event that with notice or lapse of time or both would become a default), cause the acceleration of performance, give to others any right of termination, amendment, acceleration or cancellation of or require any consent under, or result in the creation of any lien, charge or encumbrance upon any property or assets of the Company pursuant to any instrument or agreement to which the Company is a party or by which the Company or its properties may be bound or affected, other than instruments or agreements as to which consent shall have been obtained at or prior to the Closing.

 

3.4        Consents of Governmental Authorities and Others . To the Knowledge of the Company, other than in connection with the provisions of the Exchange Act and the Securities Act, no consent, approval, order or authorization of, or registration, declaration, qualification or filing with any federal, state or local governmental or regulatory authority, or any other Person, is required to be made by the Company in connection with the execution, delivery or performance of this Agreement by the Company or the consummation by the Company of the transactions contemplated hereby, excluding the execution, delivery and performance of this Agreement by the Investors.

 

 

 

  5  

 

 

3.5        Conduct of Business . Since April 13, 2018, the Company has conducted its business in the ordinary and usual course consistent with past practices and there has not occurred any Material Adverse Effect on the Company. Except as disclosed in the Commission Reports, the Company has not (a) suffered any damage, destruction or loss, whether or not covered by insurance, which has had or could reasonably be expected to have a Material Adverse Effect; granted or made any mortgage or pledge or subjected itself or any of its properties or assets to any lien, charge or encumbrance of any kind; (b) become subject to any guaranty; (c) entered into any agreement which would be a material agreement, or amended or terminated any existing material agreement; (d) to the Knowledge of the Company, been named as a party in any Litigation, or become the focus of any investigation by any government or regulatory agency or authority; (e) declared or paid any dividend or other distribution with respect to its capital stock; or (f) to the Knowledge of the Company, experienced any other event or condition of any character which has had, or could reasonably be expected to have, a Material Adverse Effect on the Company.

 

3.6        Litigation . There is no Litigation pending or, to the Knowledge of the Company, threatened before any court or by or before any governmental or regulatory authority or arbitrator, (a) affecting the Company (as plaintiff or defendant) or (b) against the Company relating to the Company Common Stock or the transactions contemplated by this Agreement.

 

3.7        Brokers . The Company has not employed any broker or finder, nor has it nor will it incur, directly or indirectly, any broker’s, finder’s, investment banking or similar fees, commissions or expenses in connection with the transactions contemplated by this Agreement or the Exchange Documents.

 

3.8        Compliance . To the Knowledge of the Company, the Company is in material compliance with all federal, state, local and foreign laws, ordinances, regulations, judgments, rulings, orders and other requirements applicable to the Company and its assets and properties. To the Knowledge of the Company, the Company is not subject to any judicial, governmental or administrative inquiry, investigation, order, judgment or decree.

 

3.9        Charter, Bylaws and Corporate Records . The Commission Reports contain true, correct and complete copies of (a) the Certificate of Incorporation of the Company, as amended and in effect on the date hereof, (b) the Bylaws of the Company, as amended and in effect on the date hereof.

 

3.10        [Intentionally Omitted]

 

3.11        Capitalization . As of the date of this Agreement, the authorized capital stock of the Company consists of 3,000,000,000 shares of common stock, USD $0.0001 par value per share, and 50,000,000 shares of preferred stock, par value $0.0001, of which as of the date of this Agreement, 142,663,161 shares of the Company Common Stock and 0 shares of preferred stock are issued and outstanding. All shares of outstanding Company Common Stock have been duly authorized, are validly issued and outstanding, and are fully paid and non-assessable.

 

3.12        Rights, Warrants, Options . Except as set forth in the Commission Reports, there are no outstanding (a) securities or instruments convertible into or exercisable for any of the capital stock or other equity interests of the Company; (b) options, warrants, subscriptions, puts, calls, or other rights to acquire capital stock or other equity interests of the Company; or (c) commitments, agreements or understandings of any kind, relating to the issuance or repurchase by the Company of any capital stock or other equity interests of the Company, or any instruments convertible or exercisable for any such securities or any options, warrants or rights to acquire such securities, with the exception of employee benefit arrangements or other incentive compensation arrangements.

 

3.13        Commission Filings and Financial Statements . To the Company’s Knowledge, all of the Commission Reports required to be filed by the Company have been filed with the Commission for the periods indicated in the definition of Commission Reports, and as of the date filed, each of the Commission Reports were true, accurate and complete in all material respects and did not omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. The financial statements included in the Commission Reports of the Company: (a) have been prepared in accordance with the books of account and records of the Company; (b) fairly present, and are true, correct and complete statements in all material respects of the Company’s financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with GAAP.

 

3.14        Absence of Undisclosed Liabilities . Other than as disclosed by the Commission Reports and the financial statements of the Company included in the Commission Reports, the Company does not have any Liabilities. The Company has no Knowledge of any circumstances, conditions, events or arrangements which may hereafter give rise to any Liabilities of the Company.

 

 

 

  6  

 

 

3.15        Real Property . The Company does not own any fee simple interest in real property. The Company does not lease, sublease, or have any other contractual interest in any real property.

 

3.16        Benefit Plans and Agreements . Except as disclosed in the Commission Reports, the Company is not a party to any Benefit Plan (as defined in Section 4.17) or employment agreement under which the Company currently has an obligation to provide benefits to any current or former employee, officer, director, consultant or advisor of the Company.

 

3.17        Material Agreements . Except as disclosed in the Commission Reports, the Company has no other material written and oral contracts or agreements including without limitation any: (i) contract resulting in a commitment or potential commitment for expenditure or other obligation or potential obligation, or which provides for the receipt or potential receipt, involving in excess of One Hundred Thousand Dollars (USD100,000.00) in any instance, or series of related contracts that in the aggregate give rise to rights or obligations exceeding such amount; (ii) indenture, mortgage, promissory note, loan agreement, guarantee or other agreement or commitment for the borrowing or lending of money or encumbrance of assets involving more than One Hundred Thousand Dollars (USD100,000.00) in each instance; (iii) agreement which restricts the Company from engaging in any line of business or from competing with any other Person; or (iv) any other contract, agreement, instrument, arrangement or commitment that is material to the condition (financial or otherwise), results of operation, assets, properties, liabilities, or business of the Company (collectively, and together with the employment agreements, Employee Benefit Plans and all other agreements required to be disclosed on any schedule to this Agreement, the “Material Company Agreements”).

 

3.18        Disclosure . No representation or warranty of the Company contained in this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading or omits to state a material fact necessary in order to provide Investor with full and proper information as to the business, financial condition, assets, liabilities, and results of operation of the Company and the value of the properties or the ownership of the Company.

 

ARTICLE IV

 

Representations and Warranties of TDA and the Investors

 

In order to induce the Company to enter into this Agreement and to consummate the transactions contemplated hereby, TDA and each Investor hereby severally and not jointly makes the representations and warranties set forth below to the Company. The parties agree that except for the representations and warranties set forth in Sections 4.2, 4.6, 4.9 and 4.20, each representation made by the Investors in this Article IV is made to the best Knowledge of such Investor.

 

4.1        Organization . TDA is a Singapore company duly organized, validly existing and in good standing under the laws of Singapore. TDA has all requisite corporate power and authority to carry on its business as presently conducted. TDA is duly qualified to transact business in Singapore and is in good standing as a foreign corporation in all jurisdictions where the ownership or leasing of its properties or the conduct of its business requires such qualification except where the failure to so qualify would not have a Material Adverse Effect on TDA.

 

4.2        Authorization; Enforceability . TDA and each Investor have the capacity to execute, deliver and perform this Agreement. This Agreement and all other documents executed and delivered by TDA and Investor pursuant to this Agreement have been duly executed and delivered and constitute the legal, valid and binding obligations of TDA and Investor, as applicable, assuming the due authorization, execution and delivery of this Agreement by the Company, enforceable in accordance with their respective terms, except to the extent that their enforcement is limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’ rights generally and by general principals of equity.

 

 

 

  7  

 

 

4.3        No Violation or Conflict . The execution, delivery and performance of this Agreement and the other documents contemplated hereby by TDA and Investor, and the consummation by Investor of the transactions contemplated hereby: (a) do not violate or conflict with any provision of law or regulation of Singapore, or any writ, order or decree of any court or governmental or regulatory authority, or any provision of TDA’s memorandum and articles of association; and (b) do not and will not, with or without the passage of time or the giving of notice, result in the breach of, or constitute a default (or an event that with notice or lapse of time or both would become a default), cause the acceleration of performance, give to others any right of termination, amendment, acceleration or cancellation of or require any consent under, or result in the creation of any lien, charge or encumbrance upon any property or assets of TDA pursuant to any instrument or agreement to which TDA is a party or by which TDA or its properties may be bound or affected, other than instruments or agreements as to which consent shall have been obtained at or prior to the Closing.

 

4.4         Consents of Governmental Authorities and Others . No consent, approval or authorization of, or registration, qualification or filing with governmental or regulatory authority, or any other Person, is required to be made by TDA or Investor in connection with the execution, delivery or performance of this Agreement by TDA or Investor, as applicable, or the consummation by TDA or Investor of the transactions contemplated hereby, excluding the execution, delivery and performance of this Agreement by the Company.

 

4.5         Litigation . There is no Litigation pending or threatened before any court or by or before any governmental or regulatory authority or arbitrator (a) affecting TDA (as plaintiff or defendant) or (b) against TDA relating to TDA Ordinary Stock or the transactions contemplated by this Agreement.

 

4.6        Brokers . None of TDA nor Investor has employed any broker or finder, and has not incurred and will not incur, directly or indirectly, any broker’s, finder’s, investment banking or similar fees, commissions or expenses in connection with the transactions contemplated by this Agreement or the Exchange Documents.

 

4.7        Compliance . TDA is in compliance with all ordinances, regulations, judgments, rulings, orders and other requirements imposed by the government of the Singapore applicable to TDA and its assets and properties, except where such noncompliance would not have a Material Adverse Effect on TDA. To the Knowledge of TDA and Investor, it is not subject to any judicial, governmental or administrative inquiry, investigation, order, judgment or decree.

 

4.8        Charter, Bylaws and Corporate Records . The Company has been provided with true, correct and complete copies of (a) the memorandum and articles of association of TDA, as amended and in effect on the date hereof and (b) the minute book of TDA (containing all corporate proceedings from the date of incorporation). Such minute book contains accurate records of all meetings and other corporate actions of the board of directors, committees of the board of directors, incorporators and shareholders of TDA from the date of its incorporation to the date hereof which were memorialized in writing.

 

4.9        Capitalization . As of the date of this Agreement, the authorized capital stock of TDA is 100 consisting of One Hundred (100) shares of TDA Ordinary Stock at $1.00 (in Singapore Dollars) per share. TDA has issued and outstanding One Hundred (100) shares of TDA Ordinary Stock. The issued and outstanding shares of TDA Ordinary Stock constitute one hundred percent (100%) of the issued and outstanding capital stock of TDA. All of the outstanding shares of TDA Ordinary Stock have been duly authorized, are validly issued and outstanding, and are fully paid and non-assessable. There are no dividends which have accrued or been declared but are unpaid on the capital stock of TDA.

 

4.10        Subsidiaries . TDA has no Subsidiaries.

 

4.11        Rights, Warrants, Options . There are no outstanding: (a) securities or instruments convertible into or exercisable for any of the capital stock or other equity interests of TDA; (b) options, warrants, subscriptions or other rights to acquire capital stock or other equity interests of TDA; or (c) commitments, agreements or understandings of any kind, including employee benefit arrangements, relating to the issuance or repurchase by TDA of any capital stock or other equity interests of TDA, or any instruments convertible or exercisable for any such securities or any options, warrants or rights to acquire such securities.

 

 

 

  8  

 

 

4.12        Conduct of Business . Except as set forth below, since inception, TDA has conducted its business in the ordinary and usual course consistent with past practices and there has not occurred any Material Adverse Effect in the condition (financial or otherwise), results of operations, properties, assets, liabilities, or business of TDA. Since inception, TDA has not (a) amended its memorandum and articles of association; (b) issued, sold or authorized for issuance or sale, shares of any class of its securities (including, but not limited to, by way of stock split or dividend) or any subscriptions, options, warrants, rights or convertible securities or entered into any agreements or commitments of any character obligating it to issue or sell any such securities; (c) redeemed, purchased or otherwise acquired, directly or indirectly, any shares of its capital stock or any option, warrant or other right to purchase or acquire any such capital stock; (d) suffered any damage, destruction or loss, whether or not covered by insurance, which has had or could reasonably be expected to have a Material Adverse Effect on any of its properties, assets, or business; granted or made any mortgage or pledge or subjected itself or any of its properties or assets to any lien, charge or encumbrance of any kind; (f) made or committed to make any capital expenditures in excess of USD100,000; (g) become subject to any guaranty; (h) granted any increase in the compensation payable or to become payable to directors, officers or employees (including, without limitation, any such increase pursuant to any severance package, bonus, pension, profit-sharing or other plan or commitment); (i) entered into any agreement which would be a material agreement, or amended or terminated any existing material agreement; (j) been named as a party in any Litigation, or become the focus of any investigation by any government or regulatory agency or authority; (k) declared or paid any dividend or other distribution with respect to its capital stock; or (l) experienced any other event or condition of any character which has had, or could reasonably be expected to have, a Material Adverse Effect on TDA.

 

4.13 Taxes .

 

(a)              all Taxes payable by TDA (if any) have been fully and timely paid;

 

(b)              neither TDA nor any Person on behalf of or with respect to TDA has executed or filed any agreements or waivers extending any statute of limitations on or extending the period for the assessment or collection of any Tax. No power of attorney on behalf of TDA with respect to any Tax matter is currently in force;

 

(c)              TDA is not a party to any Tax-sharing agreement or similar arrangement with any other party (whether or not written), and TDA has not assumed any Tax obligations of, or with respect to any transaction relating to, any other Person, or agreed to indemnify any other Person with respect to any Tax;

 

(d)              no Tax Return concerning or relating to TDA or its operations has ever been audited by a government or taxing authority, nor is any such audit in process or pending, and TDA has not been notified of any request for such an audit or other examination. To the Knowledge of Investor, no claim has been made by a taxing authority in a jurisdiction where Tax Returns concerning or relating to TDA or its operations have not been filed, that it is or may be subject to taxation by that jurisdiction;

 

(e)              TDA has never been included in any consolidated, combined, or unitary Tax Return; and

 

(f)               TDA has complied in all material respects with all applicable Laws relating to the payment and withholding of Taxes, and has duly and timely withheld from employee salaries, wages and other compensation, and has paid over to the appropriate taxing authorities, all amounts required to be so withheld and paid over for all periods under all applicable laws.

 

4.14        Environmental Matters . (a) No real property used by TDA presently or in the past has been used to manufacture, treat, store, or dispose of any hazardous substance and such property is free of all such substances such that the condition of the property is in compliance with applicable Environmental Laws; (b) TDA is in compliance with all Environmental Laws applicable to TDA or its business as a result of any hazardous substance utilized by TDA in its business or otherwise placed at any of the facilities owned, leased or operated by TDA, or in which TDA has a contractual interest; (c) TDA has not received any complaint, notice, order, or citation of any actual, threatened or alleged noncompliance by TDA with any Environmental Laws; and (d) there is no Litigation pending or threatened against TDA with respect to any violation or alleged violation of the Environmental Laws, and there is no reasonable basis for the institution of any such Litigation.

 

 

 

  9  

 

 

(a)              4.15 Financial Statements . The Financial Statements, if relevant, shall: (a) have been prepared in accordance with the books of account and records of TDA; (b) fairly present, and are true, correct and complete statements in all material respects of TDA’s financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with International Financial Reporting Standards consistently applied with prior periods.

 

4.16        Absence of Undisclosed Liabilities . Other than as disclosed in the Financial Statements, TDA does not have any Liabilities. None of TDA nor Investor has any Knowledge of any circumstances, conditions, events or arrangements which may hereafter give rise to any Liabilities of TDA.

 

4.17        Employment Agreements; Employee Benefit Plans and Employee Payments . TDA is not a party to any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally binding) under which TDA currently has an obligation to provide benefits to any current or former employee, officer, director, consultant or advisor of TDA (collectively, “Benefit Plans”).

 

4.18        Assets & Liabilities . TDA has good, clear and marketable title to all the tangible properties and tangible assets reflected in the Financial Statements as being owned by TDA or acquired after the date thereof which are, individually or in the aggregate, material to TDA’s business (except properties sold or otherwise disposed of since the date thereof in the ordinary course of business), free and clear of all liens.

 

4.19        Disclosure . No representation or warranty of TDA or Investor contained in this Agreement, and no statement, report, or certificate furnished by or on behalf of Investor to the Company pursuant hereto or in connection with the transactions contemplated hereby, contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading or omits to state a material fact necessary in order to provide the Company with full and proper information as to the business, financial condition, assets, liabilities, or results of operation of TDA and the value of the properties or the ownership of TDA.

 

4.20        Further Representations and Warranties . The Investors (by their respective signatures) further hereby represent and warrant to the Company that:

 

a.       They understand that the shares of the Company Common Stock (collectively, the “Securities”) to be issued to them pursuant to this Agreement HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES AGENCIES AND NO REGISTRATION STATEMENT HAS BEEN FILED WITH ANY REGULATORY AGENCY;

 

b.       They are not an underwriter and would be acquiring the Securities solely for investment for his or her own account and not with a view to, or for, resale in connection with any distribution within the meaning of the federal securities act, the state securities acts or any other applicable state securities acts;

 

c.       They are not a person in the United States of America and at the time the buy order was originated, were outside the United States of America and are not a citizen of the United States or a “U.S. person” as that term is defined in Regulation S of the Securities Act and was not formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act;

 

d.       They understand the speculative nature and risks of investments associated with the Company, and confirm that the acquisition of the Securities would be suitable and consistent with their investment program and that their financial position enables him or her to bear the risks of this investment;

 

e.       To the extent that any federal, and/or state securities laws shall require, they hereby agree that any securities acquired pursuant to this Agreement shall be without preference as to assets;

 

f.       The certificate for shares of the Securities will contain a legend that transfer is prohibited except in accordance with the provisions of Regulation S;

 

 

 

  10  

 

 

g.      They have had the opportunity to ask questions of the Company and have received all information from the Company to the extent that the Company possessed such information, necessary to evaluate the merits and risks of any investment in the Company. Further, they acknowledge receipt of: (1) all material books, records and financial statements of the Company; (2) all material contracts and documents relating to the proposed transaction; (3) all documents and reports filed with the Commission; and, (4) an opportunity to question the appropriate executive officers or partners;

 

h.       They have satisfied the suitability standards and securities laws imposed by the government of the respective country he or she resides;

 

i.       They have adequate means of providing for their current needs and personal contingencies and have no need to sell the Securities acquired in the foreseeable future (that is at the time of the investment, they can afford to hold the investment for an indefinite period of time);

 

j.       They have sufficient knowledge and experience in financial matters to evaluate the merits and risks of this investment and further, are capable of reading and interpreting financial statements. Further, they are “sophisticated investors” as that term is defined in applicable court cases and the rules, regulations and decisions of the United States Securities and Exchange Commission;

 

k..       The offer and sale of the Securities referred to herein is being made outside the United States within the meaning of and in full compliance with Regulation S;

 

l.       They are not a U. S. person within the meaning of Regulation S and are not acquiring the Shares for the account or benefit of any U. S. person;

 

m.       They do not have a short position in, or other hedged position with respect to the Securities, will not have a short position in, or other hedged position with respect to, the securities described herein unless in compliance with the Securities Act and Regulation S promulgated thereunder; and

 

n.       They agree to resell such Securities only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration.

 

ARTICLE V

 

Additional Agreements

 

5.1        Survival of the Representations and Warranties . The representations and warranties and covenants set forth in Article III and Article IV of this Agreement shall survive the Closing until the expiration of twelve (12) months from the Closing Date. No claim for indemnity with respect to breaches of representations and warranties may be brought by any party hereto, other than a claim for fraud or intentional misrepresentation, after expiration of the applicable survival period therefore as set forth in this Section 5.1.

 

5.2        Investigation . The representations, warranties, covenants and agreements set forth in this Agreement shall not be affected or diminished in any way by any investigation (or failure to investigate) at any time by or on behalf of the party for whose benefit such representations, warranties, covenants and agreements were made. All statements contained herein or in any schedule, certificate, exhibit, list or other document required to be delivered pursuant hereto, shall be deemed to be representations and warranties for purposes of this Agreement; provided, that any knowledge or materiality qualifications contained herein shall be applicable to such other documents.

 

5.3        General Confidentiality . Each of the parties hereto will treat and hold as such all of the Confidential Information of the other party, refrain from using any of the Confidential Information except in connection with this Agreement, and unless there is a closing on the Exchange, deliver promptly to the owner of such Confidential Information or destroy, at the request and option of the owner of the Confidential Information, all tangible embodiments (and all copies) of the Confidential Information which are in its possession. In the event that any of the parties is requested or required (by oral question or request for information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or similar process) to disclose any Confidential Information, that party will notify the affected party promptly of the request or requirement so that the affected party may seek an appropriate protective order or waive compliance with the provisions of this Section 5.3. If, in the absence of a protective order or the receipt of a waiver hereunder, any of the parties is, on the advice of counsel, compelled to disclose any Confidential Information to any tribunal or else stand liable for contempt, that Party may disclose the Confidential Information to the tribunal; provided, however, that the disclosing party shall use its commercially reasonable efforts to obtain, at the request of the affected party, an order or other assurance that confidential treatment will be accorded to such portion of the Confidential Information required to be disclosed as the affected party shall designate. The foregoing provisions shall not apply to any Confidential Information which is generally available to the public immediately prior to the time of disclosure.

 

 

 

  11  

 

 

5.4        Tax Treatment . Neither the Company nor Investors will knowingly take any action, written or otherwise, which would result in the transactions contemplated by this Agreement not being accounted for as tax-free exchange under the Code.

 

5.5        General . In case at any time after the Closing Date any further action is necessary to carry out the purposes of this Agreement, each of the parties will take such further action (including the execution and delivery of such further instruments and documents) as the other party reasonably may request, all at the sole cost and expense of the requesting party.

 

ARTICLE VI

 

Closing; Deliveries; Conditions Precedent

 

6.1        Closing; Effective Date . All proceedings taken and all documents executed at the Closing shall be deemed to have been taken, delivered and executed simultaneously, and no proceeding shall be deemed taken nor documents deemed executed or delivered until all have been taken, delivered and executed.

 

6.2        Deliveries

 

(a) At Closing, the Company shall deliver the following documents to the Investor Representative:

 

(i)              a certificate, dated the Closing Date, signed by the directors of the Company setting forth that: (i) authorizing resolutions were adopted by all the directors of the Company approving the acquisition of the Sold TDA Stock by the Company from the Investors in consideration of 510,000 shares of the Company Common Stock in aggregate to the Investors and the Exchange under the terms and conditions of this Agreement; and (ii) the Company’s transfer agent has been authorized to issue the shares of the Company Common Stock to the Investors in accordance with Section 2.4 hereof (the aggregate of which represents the Consideration) and the other documents contemplated hereby and the transactions contemplated hereby and thereby.

 

(ii)             the certificate referred to in Section 6.3(d).

 

(b)              At Closing, the Investor Representative and TDA shall deliver the following documents to the Company:

 

(i)              A power of attorney executed by the Investors appointing the Investor Representative as attorney-in-fact to negotiate and execute this Agreement and any amendments thereto on behalf of the Investors;

 

(ii)             the TDA Certificates or Records representing all of the Sold TDA Stock (i.e. 51% of the issued and outstanding shares of TDA Ordinary Stock);

 

(iii)           a certificate from a director or the company secretary of TDA, as of a recent date, as to the good standing of TDA and certifying its Memorandum and Articles of Association;

 

(iv)            that certain Shareholders’ Agreement by and among NIA, TDA and Mok Jo Han;

 

(v)             certificates, dated the Closing Date, signed by a director of TDA setting forth that authorizing resolutions were adopted by TDA’s Board of Directors approving the transfer of all the Sold TDA Stock to the Company, this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby;

 

(vi)            the Financial Statements, if relevant; and

 

(vii)          the certificates referred to in Section 6.4(d).

 

 

 

  12  

 

 

6.3        Conditions Precedent to the Obligations of TDA and the Investors . Each and every obligation to consummate the transactions described in this Agreement and any and all liability of TDA and the Investors to the Company shall be subject to the following conditions precedent:

 

(a)              Representations and Warranties True. Each of the representations and warranties of the Company contained herein or in any certificate or other document delivered pursuant to this Agreement or in connection with the transactions contemplated hereby shall be true and correct in all material respects as of the Closing Date with the same force and effect as though made on and as of such date.

 

(b)              Performance. The Company shall have performed and complied in all material respects with all of the agreements, covenants and obligations required under this Agreement to be performed or complied with by them on or prior to the Closing Date.

 

(c)              No Material Adverse Change. Except as expressly permitted or contemplated by this Agreement, no event or condition shall have occurred which has adversely affected or may adversely affect in any respect the condition (financial or otherwise) of the Company between the date of execution of this Agreement and the Closing Date.

 

(d)              The Company’s Certificate. The Company shall have delivered to Investor a certificate dated the Closing Date and signed by a director of the Company, certifying that the conditions specified in Sections 6.3(a), (b) and (c) above have been fulfilled.

 

(e)              Consents. The Company shall have obtained all authorizations, consents, waivers and approvals as may be required to consummate the transactions contemplated by this Agreement.

 

6.4        Conditions Precedent to the Obligations of the Company . Each and every obligation of the Company to consummate the transactions described in this Agreement and any and all liability of the Company to TDA and the Investors shall be subject to the fulfilment of the following conditions precedent:

 

(a)              Representations and Warranties True. Each of the representations and warranties of TDA and the Investors contained herein or in any certificate or other document delivered pursuant to this Agreement or in connection with the transactions contemplated hereby shall be true and correct in all material respects as of the Closing Date with the same force and effect as though made on and as of such date.

 

(b)              Performance. TDA and the Investors shall have performed and complied in all material respects with all of the agreements, covenants and obligations required under this Agreement to be performed or complied with by it on or prior to the Closing Date.

 

(c)              No Material Adverse Change. Except as expressly permitted or contemplated by this Agreement, no event or condition shall have occurred which has adversely affected or may adversely affect in any respect the condition (financial or otherwise) of TDA between the date of execution of this Agreement and the Closing Date.

 

(d)              Investor’s Certificates. TDA and the Investor Representative shall have delivered a certificate or Records addressed to the Company, dated the Closing Date, certifying that the conditions specified in Sections 6.4(a), (b) and (c) above have been fulfilled.

 

(e)              Consents. TDA and the Investors shall have obtained all authorizations, consents, waivers and approvals as may be required to consummate the transactions contemplated by this Agreement, including but not limited to those with respect to any material agreement of TDA.

 

(f)               Due Diligence Review. The Company shall have completed within thirty (30) days from the date of this Agreement of its due diligence investigation of TDA to its satisfaction.

 

 

 

  13  

 

 

(g)              Financial Statements. TDA shall have delivered to the Company the Financial Statements. The Financial Statements shall: (a) have been prepared in accordance with the books of account and records of TDA; (b) fairly present, and are true, correct and complete statements in all material respects of TDA’s financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with US GAAP consistently applied with prior periods.

 

6.5        Best Efforts .. Subject to the terms and conditions provided in this Agreement, each of the parties shall use their respective best efforts in good faith to take or cause to be taken as promptly as practicable all reasonable actions that are within its power to cause to be fulfilled those of the conditions precedent to its obligations or the obligations of the other parties to consummate the transactions contemplated by this Agreement that are dependent upon its actions, including obtaining all necessary consents, authorizations, orders, approvals and waivers.

 

6.6        Termination . This Agreement and the transactions contemplated hereby may be terminated at any time prior to the occurrence of the Closing by the mutual consent of the parties hereto; (b) by the Company, if the Closing has not occurred on or prior to October 30, 2018, or such other date as may be agreed to by the parties hereto (such date of termination being referred to herein as the “Termination Date”), provided the failure of the Closing to occur by such date is not the result of the failure of the party seeking to terminate this Agreement to perform or fulfil any of its obligations hereunder; (c) by TDA or any Investor solely with respect to such Investor and TDA Ordinary Stock held by such Investor at any time at or prior to Closing in such Investor’s sole discretion if (i) any of the representations or warranties of the Company in this Agreement are not in all material respects true, accurate and complete or if the Company breaches in any material respect any covenant contained in this Agreement, provided that such misrepresentation or breach is not cured within fourteen (14) days after notice thereof, but in any event prior to the Termination Date or (ii) any of the conditions precedent to the Company’s obligations to conduct the Closing have not been satisfied by the date required thereof; or (d) by the Company at any time at or prior to Closing in its sole discretion if (i) any of the representations or warranties of Investor in this Agreement are not in all material respects true, accurate and complete or if Investor breaches in any material respect any covenant contained in this Agreement, provided that such misrepresentation or breach is not cured within fourteen (14) days after notice thereof, but in any event prior to the Termination Date or (ii) any of the conditions precedent to the obligation of TDA and or the Investor to conduct the Closing have not been satisfied by the date required thereof. If this Agreement is terminated pursuant to this Section 6.6, written notice thereof shall promptly be given by the party electing such termination to the other party and, subject to the expiration of the cure periods provided in clauses (c) and (d) above, if any, this Agreement shall terminate without further actions by the parties and no party shall have any further obligations under this Agreement.

 

6.7        Shares Issuance . Within Thirty (30) days after the Closing, the Company shall take all necessary steps to issue and deliver to the Investor Representative the share certificates evidencing the Company Common Stock issuable in the names of the respective Investors for the respective number of shares to which such Investors are entitled pursuant to Section 2.4 hereof.

 

ARTICLE VII

 

Miscellaneous

 

7.1        Notices . Any notice, demand, claim or other communication under this Agreement shall be in writing and delivered personally or sent by certified mail, return receipt requested, postage prepaid, or sent by facsimile or prepaid overnight courier to the parties at the addresses as follows (or at such other addresses as shall be specified by the parties by like notice):

 

If to the Company: NOBLE VICI GROUP, INC.  
  1 Raffles Place, #33-02
  One Raffles Place Tower One
  Singapore 048616
  Attn: Secretary

 

If to Investor: To the address set forth below such Investor’s signature

 

 

 

  14  

 

 

Such notice shall be deemed delivered upon receipt against acknowledgment thereof if delivered personally, on the third business day following mailing if sent by certified mail, upon transmission against confirmation if sent by facsimile and on the next business day if sent by overnight courier.

 

7.2        Entire Agreement; Incorporation . This Agreement and the documents and instruments and other agreements among the parties hereto as contemplated by or referred to herein contain every obligation and understanding between the parties relating to the subject matter hereof and merges all prior discussions, negotiations, agreements and understandings, both written and oral, if any, between them, and none of the parties shall be bound by any conditions, definitions, understandings, warranties or representations other than as expressly provided or referred to herein. All schedules, exhibits and other documents and agreements executed and delivered pursuant hereto are incorporated herein as if set forth in their entirety herein.

 

7.3        Binding Effect . This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, heirs, personal representatives, legal representatives, and permitted assigns.

 

7.4        Assignment . This Agreement may not be assigned by any party without the written prior consent of the other party. Subject to the preceding sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

7.5        Waiver and Amendment . Any representation, warranty, covenant, term or condition of this Agreement which may legally be waived, may be waived, or the time of performance thereof extended, at any time by the party hereto entitled to the benefit thereof, and any term, condition or covenant hereof (including, without limitation, the period during which any condition is to be satisfied or any obligation performed) may be amended by the parties thereto at any time. Any such waiver, extension or amendment shall be evidenced by an instrument in writing executed on behalf of the party against whom such waiver, extension or amendment is sought to be charged. No waiver by any party hereto, whether express or implied, of its rights under any provision of this Agreement shall constitute a waiver of such party’s rights under such provisions at any other time or a waiver of such party’s rights under any other provision of this Agreement. No failure by any party thereof to take any action against any breach of this Agreement or default by another party shall constitute a waiver of the former party’s right to enforce any provision of this Agreement or to take action against such breach or default or any subsequent breach or default by such other party.

 

7.6        No Third Party Beneficiary . Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any Person other than the parties hereto and their respective heirs, personal representatives, legal representatives, successors and permitted assigns, any rights or remedies under or by reason of this Agreement, except as otherwise provided herein.

 

7.7        Severability . In the event that any one or more of the provisions contained in this Agreement, or the application thereof, shall be declared invalid, void or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall remain in full force and effect and the application of such provision to other Persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such invalid, void or unenforceable provision with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid, void or unenforceable provision.

 

7.8        Expenses . Except as otherwise provided herein, each party agrees to pay, without right of reimbursement from the other party, the costs incurred by it incident to the performance of its obligations under this Agreement and the consummation of the transactions contemplated hereby, including, without limitation, costs incident to the preparation of this Agreement, and the fees and disbursements of counsel, accountants and consultants employed by such party in connection herewith.

 

7.9        Headings . The table of contents and the section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of any provisions of this Agreement.

 

 

 

  15  

 

 

7.10        Other Remedies; Injunctive Relief . Except as otherwise provided herein, any and all remedies herein expressly conferred upon a party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that subject to Section 7.13 hereof, the parties shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court in Singapore, this being in addition to any other remedy to which they are entitled at law or in equity. In any action at law or suit in equity to enforce this Agreement or the rights of the parties hereunder, the prevailing party in any such action or suit shall be entitled to receive a reasonable sum for its attorneys’ fees and all other reasonable costs and expenses incurred in such action or suit.

 

7.11        Counterparts . This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Facsimile signatures shall be deemed valid and binding.

 

7.12        Governing Law . This Agreement has been entered into and shall be construed and enforced in accordance with the laws of the Singapore, without reference to the choice of law principles thereof.

 

7.13        Jurisdiction and Venue . This Agreement shall be subject to the exclusive jurisdiction of the courts of the Singapore. The parties to this Agreement agree that any breach of any term or condition of this Agreement shall be deemed to be a breach occurring in the Singapore by virtue of a failure to perform an act required to be performed in Singapore and irrevocably and expressly agree to submit to the jurisdiction of the courts of Singapore for the purpose of resolving any disputes among the parties relating to this Agreement or the transactions contemplated hereby. The parties irrevocably waive, to the fullest extent permitted by law, any objection which they may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, or any judgment entered by any court in respect hereof brought in Singapore, and further irrevocably waive any claim that any suit, action or proceeding brought in the Singapore has been brought in an inconvenient forum.

 

7.14        Participation of Parties . The parties hereby agree that they have consulted their respective counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding, or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

 

7.15        Further Assurances . The parties hereto shall deliver any and all other instruments or documents reasonably required to be delivered pursuant to, or necessary or proper in order to give effect to, all of the terms and provisions of this Agreement including, without limitation, all necessary stock powers and such other instruments of transfer as may be necessary or desirable to transfer full and complete ownership of the Sold TDA Stock to the Company or the issuance of the applicable Securities to the Investors for the Consideration, as the case may be, free and clear of any liens or encumbrances.

 

7.16        Publicity . No public announcement or other publicity concerning this Agreement or the transactions contemplated hereby shall be made without the prior written consent of both the Company and Investor as to form, content, timing and manner of distribution. Nothing contained herein shall prevent any party from making any filing required by federal or state securities laws or stock exchange rules of the United States of America.

 

7.17        No Solicitation . None of TDA, Investor nor the Company shall authorize or permit any of its officers, directors, agents, representatives, managers, members, agents, or advisors to solicit, initiate or encourage or take any action to facilitate the submission of inquiries, proposals or offers from any person relating to any matter concerning any merger, consolidation, business combination, recapitalization or similar transaction involving TDA or the Company, respectively, other than the transaction contemplated by this Agreement or any other transaction the consummation of which would or could reasonably be expected to impede, interfere with, prevent or delay the Exchange or which would or could be expected to dilute the benefits to each of the parties of the transactions contemplated hereby. Investor and the Company will immediately cease and cause to be terminated any existing activities, discussions and negotiations with any parties conducted heretofore with respect to any of the foregoing.

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

 

  16  

 

 

IN WITNESS WHEREOF , the parties hereto have each executed and delivered this Agreement as of the day and year first above written.

 

 

NOBLE VICI GROUP, INC.

 

 

 

By: /s/ Eldee Wai Chong Tang

       Eldee Wai Chong Tang, Chief Executive Officer

 

 

 

 

NOBLE INFOTECH APPLICATIONS PTE. LTD.

 

 

 

 

By: /s/ Tan Hong Hui

       Tan Hong Hui, Managing Director

 

 

 

THE DIGITAL AGENCY PRIVATE LIMITED

 

 

 

By: /s/ Mok Jo Han

 

 

Print Name:    Mok Jo Han

 

 

Its:        Chief Executive Officer

 

 

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

 

  17  

 

 

INVESTOR

 

 

/s/ Mok Jo Han

Signature

 

 

 

       Mok Jo Han       

Print Name

 

 

 

   51                    

No. of TDA Ordinary Shares

 

 

Address:

 

71 Ayer Rajah Crescent #03-01

Singapore 139951

Singapore

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

  18  

 

Exhibit 10.2

 

SHARE EXCHANGE AGREEMENT

 

This SHARE EXCHANGE AGREEMENT (hereinafter referred to as “this Agreement”) dated as of September 17, 2018, by and among Noble Vici Group, Inc., a Delaware corporation (“NVGI” or the “Company”), Noble Infotech Applications Private Limited, a private limited company incorporated under the laws of Singapore (“NIA”), Noble Digital Apps Sendirian Berhad , a private limited company incorporated under the laws of Malaysia (“NDA”) and each of the undersigned parties (each, an “Investor,” and collectively, the “Investors”).

 

W I T N E S S E T H:

 

WHEREAS, NDA, a Malaysia corporation, is in the digital apps and big data business;

 

WHEREAS, NVGI desires to acquire, through its subsidiary Noble Infotech Applications Private Limited (“NIA”), a Singapore corporation, and the Investors desire to sell, up to Fifty One Percent (51%) of NDA, or up to Five Hundred and Ten (510) shares of the issued and outstanding ordinary shares of NDA (“NDA Ordinary Stock”), from the Investors in consideration of up to Five Hundred and Ten Thousand (510,000) shares of NVGI’s common stock, par value $0.0001 (“Common Stock”), at a value of $2.00 per share of Common Stock (the “Exchange”), on the terms and conditions set forth below;

 

WHEREAS, the parties herein desire the Exchange to be a tax-free exchange under the Internal Revenue Code.

 

NOW, THEREFORE, in consideration of the premises and of the mutual representations, warranties and agreements set forth herein, the parties hereto agree as follows:

 

ARTICLE I

Definitions

 

In addition to terms defined elsewhere in this Agreement, the following terms when used in this Agreement shall have the meanings indicated below:

 

Affiliate ” shall mean with respect to a specified Person, any other Person which, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with such Person, and without limiting the generality of the foregoing, includes, with respect to a Person (a) any other Person which beneficially owns or holds ten percent (10%) or more of any class of voting securities or other securities convertible into voting securities of such Person or beneficially owns or holds ten percent (10%) or more of any other equity interests in such Person, (b) any other Person with respect to which such Person beneficially owns or holds ten percent (10%) or more of any class of voting securities or other securities convertible into voting securities of such Person, or owns or holds ten percent (10%) or more of the equity interests of the other Person, and (c) any director or senior officer of such Person. For purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise.

 

Agreement ” shall mean this Share Exchange Agreement together with all exhibits and schedules referred to herein, which exhibits and schedules are incorporated herein and made a part hereof.

 

Closing ” shall have the meaning set forth in Section 2.2.

 

Closing Date ” shall mean the date that the Closing takes place.

 

Code ” shall mean the Internal Revenue Code of 1986, as amended.

 

 

 

  1  

 

 

Commission or SEC ” shall mean the United States Securities and Exchange Commission.

 

Commission Reports ” shall mean the Forms 10-K, 10-Q, 8-K, and other Commission reports required by or filed pursuant to the Securities Exchange Act of 1934, as amended, and Securities Act of 1933, as amended, which have been filed by the Company with the Commission as at the date of this Agreement.

 

Company ” shall have the meaning set forth in the recitals.

 

Company Common Stock ” shall mean the common stock of the Company at par value of USD0.0001 per share.

 

Company Loss ” shall have the meaning set forth in Section 5.5.

 

Confidential Information ” means any information concerning the businesses and affairs of NDA or the Company that is not already generally available to the public.

 

Consideration ” shall mean the consideration of Five Hundred and Ten Thousand (510,000) shares of the Company’s Common Stock, par value $0.0001, to be issued by the Company to the Investors for the acquisition by the Company of Five Hundred and Ten (510) shares of the NDA Ordinary Stock (representing approximately 51% of the total issued and outstanding shares of the NDA Ordinary Stock).

 

Effective Time ” shall have the meaning set forth in Section 2.3.

 

Environmental Laws ” shall have the meaning set forth in Section 3.18.

 

Exchange ” shall have the meaning set forth in the recitals.

 

Exchange Act ” shall mean the Securities Exchange Act of 1934, as amended.

 

Exchange Documents ” shall have the meaning set forth in Section 3.2.

 

Financial Statements ” shall mean, if relevant, NDA’s balance sheets, statement of operations, changes in stockholders’ equity and cash flow as of and for the fiscal years ended March 31, 2018 and 2017, and the six month period ended June 30, 2018. Financial statements for the years ended March 31, 2018 and 2017, shall be audited, in accordance with US GAAP by a PCAOB registered auditor acceptable to NDA in its discretion.

 

GAAP ” shall mean United States generally accepted accounting principles.

 

Guaranty ” shall mean, as to any Person, all liabilities or obligations of such Person, with respect to any indebtedness or other obligations of any other Person, which have been guaranteed, directly or indirectly, in any manner by such Person, through an agreement, contingent or otherwise, to purchase such indebtedness or obligation, or to purchase or sell property or services, primarily for the purpose of enabling the debtor to make payment of such indebtedness or obligation or to guarantee the payment to the owner of such indebtedness or obligation against loss, or to supply funds to or in any manner invest in the debtor.

 

Investor Representative ” shall have the meaning set forth in Section 2.6.

 

Investors ” shall have the meaning set forth in the recitals.

 

Investments ” shall mean, with respect to any Person, all advances, loans or extensions of credit to any other Person (except for extensions of credit to customers in the ordinary course of business), all purchases or commitments to purchase any stock, bonds, notes, debentures or other securities of any other Person, and any other investment in any other Person, including partnerships or joint ventures (whether by capital contribution or otherwise) or other similar arrangement (whether written or oral) with any Person, including, but not limited to, arrangements in which (i) the first Person shares profits and losses of the other Person, (ii) any such other Person has the right to obligate or bind the first Person to any third party, or (iii) the first Person may be wholly or partially liable for the debts or obligations of such partnership, joint venture or other entity.

 

 

 

  2  

 

 

Knowledge ” shall mean, in the case of any Person who is an individual, knowledge that a reasonable individual under similar circumstances would have after such reasonable investigation and inquiry as such reasonable individual would under such similar circumstances make, and in the case of a Person other than an individual, the knowledge that a senior officer, director or manager of such Person, or any other Person having responsibility for the particular subject matter at issue of such Person, would have after such reasonable investigation and inquiry as such senior officer, director, manager or responsible Person would under such similar circumstances make.

 

Law ” and “ Laws ” shall mean any federal, state, local or foreign statute, law, ordinance, regulation, rule, code, order or other requirement or rule of law.

 

Liabilities ” shall mean any direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, fixed or unfixed, choate or inchoate, liquidated or unliquidated, secured or unsecured, accrued, absolute, contingent or otherwise, including, without limitation, liabilities on account of taxes, other governmental charges or Litigation, whether or not of a kind required by GAAP to be set forth on a financial statement.

 

Litigation ” shall mean any actions, suits, investigations, claims or proceedings.

 

Material Adverse Effect ” shall mean any event or condition of any character which has had or could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), results of operations, assets, liabilities, properties, or business of the Company or NDA, as applicable.

 

Person ” shall mean any natural person, corporation, unincorporated organization, partnership, association, limited liability company, joint stock company, joint venture, trust or government, or any agency or political subdivision of any government or any other entity.

 

NDA ” shall mean Noble Digital Apps Sdn. Bhd. (Company No.: 1277927K), a Malaysia company incorporated under the laws of Malaysia having its registered office at No.133C, Jalan Desa 1/3, Desa Aman Puri, Kepong 52100 Kuala Lumpur W.P. Kuala Lumpur Malaysia.

 

NDA Certificates ” shall have the meaning set forth in Section 2.4.

 

NDA Ordinary Stock ” shall mean the ordinary stock of NDA.

 

Securities Act ” shall mean the Securities Act of 1933, as amended.

 

Sold NDA Stock ” shall have the meaning set forth in Section 2.4.

 

Subsidiary ” of any Person shall mean any Person, whether or not capitalized, in which such Person owns, directly or indirectly, an equity interest of more than fifty percent (50%), or which may effectively be controlled, directly or indirectly, by such Person.

 

Tax ” and “ Taxes ” shall mean (i) all income, excise, gross receipts, ad valorem, sales, use, employment, franchise, profits, gains, property, transfer, payroll, withholding, severance, occupation, social security, unemployment compensation, alternative minimum, value added, intangibles or other taxes, fees, stamp taxes, duties, charges, levies or assessments of any kind whatsoever (whether payable directly or by withholding), together with any interest and any penalties, fines, additions to tax or additional amounts imposed by any governmental or regulatory authority with respect thereto, (ii) any liability for the payment of any amounts of the type described in (i) as a result of being a member of a consolidated, combined, unitary or aggregate group for any Taxable period, and (iii) any liability for the payment of any amounts of the type described in (i) or (ii) as a result of being a transferee or successor to any person or as a result of any express or implied obligation to indemnify any other Person.

 

Tax Returns ” shall mean returns, declarations, reports, claims for refund, information returns or other documents (including any related or supporting schedules, statements or information) filed or required to be filed in connection with the determination, assessment or collection of any Taxes of any party or the administration of any laws, regulations or administrative requirements relating to any Taxes.

 

 

 

  3  

 

 

Termination Date ” shall have the meaning set forth in Section 6.6.

 

The words “hereof”, “herein” and “hereunder” and the words of similar import shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The terms defined in the singular shall have a comparable meaning when used in the plural and vice versa.

 

ARTICLE II

 

Transactions; Terms of Share Exchange; Manner of Exchange

 

2.1        Exchange of Shares . Subject to the terms and conditions of this Agreement, at the Effective Time (as defined below):

 

(a)              At the direction of the Investor Representative, the Company shall issue to the NDA Investors up to an aggregate of 510,000 shares of Company Common Stock in accordance with Section 2.4 hereof;

 

(b)              Each Investor shall deliver to the Company the original NDA Certificates evidencing the Sold NDA Stock and all appropriately executed transfer documents in favor of the Company, in order to effectively transfer to the Company, the right, title and interest in and to the Sold NDA Stock;

 

 

(c)              the Exchange shall be consummated pursuant to the terms of this Agreement, which has been approved and adopted by the Boards of Directors of the Company; and

 

(d)              the Securities issued by the Company in connection with this Share Exchange Agreement are issued pursuant to the exemption from registration contained in Regulation S of the Securities Act of 1933.

 

2.2        Time and Place of Closing . The closing of the transactions contemplated hereby (the “Closing”) will take place at 10:00 A.M. on the date following the satisfaction or waiver of all conditions to the obligations of the parties to consummate the transactions contemplated hereby as set forth in Article VI (other than conditions with respect to actions the respective parties will take at the Closing itself) (the “Closing Date”). The Closing shall be held at the principal office of the Company, or at such other location or time as may be mutually agreed upon by the parties. The parties agree to take all necessary and prompt actions so as to complete the Closing on or before September 30, 2018, or at such other date as may be agreed to by the parties in writing.

 

2.3        Effective Time . The Exchange and other transactions contemplated by this Agreement shall become effective on the Closing Date (the “Effective Time”).

 

2.4 Exchange of Shares . At the Closing, the Investors shall surrender all the share certificates or records which represent in the aggregate of Five Hundred and Ten (510) shares of the NDA Ordinary Stock (representing up to 51% of the total issued and outstanding shares of NDA Ordinary Stock) (collectively, the “Sold NDA Stock”) immediately prior to the Closing Date (the “NDA Certificates”), and the respective Investors shall promptly after the Effective Time receive in exchange therefor that number of shares of the Company Common Stock at an exchange ratio of One NDA Ordinary Stock for One Thousand shares of the Company Common Stock.

 

2.5        Legend On Securities . Each certificate for the shares of the Company Common Stock to be issued to any of the Investors as part of the Consideration shall bear substantially the following legend:

 

“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE ‘SECURITIES ACT’), AND MAY NOT BE offered or sold (I) in the united states or to u.s. persons BY OR ON BEHALF OF ANY U.S. PERSON, UNLESS (A) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT IS IN EFFECT WITH RESPECT THERETO OR (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION AND A WRITTEN OPINION FROM COUNSEL FOR THE ISSUER OR COUNSEL FOR THE HOLDER REASONABLY ACCEPTABLE TO THE ISSUER HAS BEEN OBTAINED TO THE EFFECT THAT NO SUCH REGISTRATION IS REQUIRED AND (II) OUTSIDE THE UNITED STATES, UNLESS IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT AND THE PURCHASER IN SUCH TRANSaction PROVIDES A CERTIFICATION to the issuer THAT IT IS A NON-U.S. PERSON. each beneficial holder, by accepting an interest in THE SECURITIES REPRESENTED BY THIS CERTIFICATE, agrees that any hedging transaction involving SUCH SECURITIES MAY not be conducted unless in compliance with the securities Act. TERMS IN THIS LEGEND HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.”

 

 

 

  4  

 

 

2.6        Investor Representative . The Investors hereby designate Tan Hong Hui to serve as the investor representative (the “Investor Representative”). The Investors agree that: (i) the instructions of the Investor Representative to the Company and the acts or omissions of the Investor Representative shall be conclusively deemed to be the instructions, acts or omissions of all of the Investors, and that the Company shall be entitled to rely on such instructions, acts or omissions as if such instructions, actions or omissions were received from or performed or omitted to be performed by all of the Investors; and (ii) all notice and items delivered to the Investor Representative shall be conclusively deemed delivered to all of the Investors.

 

ARTICLE III

Representations and Warranties of the Company

 

In order to induce the Investors to enter into this Agreement and to consummate the transactions contemplated hereby, the Company makes the representations and warranties set forth below to NDA and the Investors.

 

3.1        Organization . The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite corporate power and authority to carry on its business as presently conducted. The Company is duly qualified to transact business and is in good standing as a foreign corporation in all jurisdictions where the ownership or leasing of its properties or the conduct of its business requires such qualification except where the failure to so qualify would not have a Material Adverse Effect on the Company.

 

3.2        Authorization; Enforceability . The execution, delivery and performance of this Agreement by the Company and all other agreements to be executed, delivered and performed by the Company pursuant to this Agreement (collectively, the “Exchange Documents”) and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate or individual action on the part of the Company. This Agreement and the Exchange Documents have been duly executed and delivered by the Company, and constitute the legal, valid and binding obligation of the Company, assuming the due authorization, execution and delivery of this Agreement by the Investors, enforceable in accordance with their respective terms, except to the extent that their enforcement is limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’ rights generally and by general principles of equity.

 

3.3        No Violation or Conflict . To the Knowledge of the Company, the execution, delivery and performance of this Agreement and the Exchange Documents by the Company, and the consummation by the Company of the transactions contemplated hereby and thereby: (a) do not violate or conflict with any provision of law or regulation (whether federal, state or local) of the United States of America, or any writ, order or decree of any court or governmental or regulatory authority, or any provision of the Company’s Articles of Incorporation or Bylaws; and (b) do not and will not, with or without the passage of time or the giving of notice, result in the breach of, or constitute a default (or an event that with notice or lapse of time or both would become a default), cause the acceleration of performance, give to others any right of termination, amendment, acceleration or cancellation of or require any consent under, or result in the creation of any lien, charge or encumbrance upon any property or assets of the Company pursuant to any instrument or agreement to which the Company is a party or by which the Company or its properties may be bound or affected, other than instruments or agreements as to which consent shall have been obtained at or prior to the Closing.

 

3.4        Consents of Governmental Authorities and Others . To the Knowledge of the Company, other than in connection with the provisions of the Exchange Act and the Securities Act, no consent, approval, order or authorization of, or registration, declaration, qualification or filing with any federal, state or local governmental or regulatory authority, or any other Person, is required to be made by the Company in connection with the execution, delivery or performance of this Agreement by the Company or the consummation by the Company of the transactions contemplated hereby, excluding the execution, delivery and performance of this Agreement by the Investors.

 

 

 

  5  

 

 

3.5        Conduct of Business . Since April 13, 2018, the Company has conducted its business in the ordinary and usual course consistent with past practices and there has not occurred any Material Adverse Effect on the Company. Except as disclosed in the Commission Reports, the Company has not (a) suffered any damage, destruction or loss, whether or not covered by insurance, which has had or could reasonably be expected to have a Material Adverse Effect; granted or made any mortgage or pledge or subjected itself or any of its properties or assets to any lien, charge or encumbrance of any kind; (b) become subject to any guaranty; (c) entered into any agreement which would be a material agreement, or amended or terminated any existing material agreement; (d) to the Knowledge of the Company, been named as a party in any Litigation, or become the focus of any investigation by any government or regulatory agency or authority; (e) declared or paid any dividend or other distribution with respect to its capital stock; or (f) to the Knowledge of the Company, experienced any other event or condition of any character which has had, or could reasonably be expected to have, a Material Adverse Effect on the Company.

 

3.6        Litigation . There is no Litigation pending or, to the Knowledge of the Company, threatened before any court or by or before any governmental or regulatory authority or arbitrator, (a) affecting the Company (as plaintiff or defendant) or (b) against the Company relating to the Company Common Stock or the transactions contemplated by this Agreement.

 

3.7        Brokers . The Company has not employed any broker or finder, nor has it nor will it incur, directly or indirectly, any broker’s, finder’s, investment banking or similar fees, commissions or expenses in connection with the transactions contemplated by this Agreement or the Exchange Documents.

 

3.8        Compliance . To the Knowledge of the Company, the Company is in material compliance with all federal, state, local and foreign laws, ordinances, regulations, judgments, rulings, orders and other requirements applicable to the Company and its assets and properties. To the Knowledge of the Company, the Company is not subject to any judicial, governmental or administrative inquiry, investigation, order, judgment or decree.

 

3.9        Charter, Bylaws and Corporate Records . The Commission Reports contain true, correct and complete copies of (a) the Certificate of Incorporation of the Company, as amended and in effect on the date hereof, (b) the Bylaws of the Company, as amended and in effect on the date hereof.

 

3.10        [Intentionally Omitted]

 

3.11        Capitalization . As of the date of this Agreement, the authorized capital stock of the Company consists of 3,000,000,000 shares of common stock, USD $0.0001 par value per share, and 50,000,000 shares of preferred stock, par value $0.0001, of which as of the date of this Agreement, 142,663,161 shares of the Company Common Stock and 0 shares of preferred stock are issued and outstanding. All shares of outstanding Company Common Stock have been duly authorized, are validly issued and outstanding, and are fully paid and non-assessable.

 

3.12        Rights, Warrants, Options . Except as set forth in the Commission Reports, there are no outstanding (a) securities or instruments convertible into or exercisable for any of the capital stock or other equity interests of the Company; (b) options, warrants, subscriptions, puts, calls, or other rights to acquire capital stock or other equity interests of the Company; or (c) commitments, agreements or understandings of any kind, relating to the issuance or repurchase by the Company of any capital stock or other equity interests of the Company, or any instruments convertible or exercisable for any such securities or any options, warrants or rights to acquire such securities, with the exception of employee benefit arrangements or other incentive compensation arrangements.

 

3.13        Commission Filings and Financial Statements . To the Company’s Knowledge, all of the Commission Reports required to be filed by the Company have been filed with the Commission for the periods indicated in the definition of Commission Reports, and as of the date filed, each of the Commission Reports were true, accurate and complete in all material respects and did not omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. The financial statements included in the Commission Reports of the Company: (a) have been prepared in accordance with the books of account and records of the Company; (b) fairly present, and are true, correct and complete statements in all material respects of the Company’s financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with GAAP.

 

 

 

  6  

 

 

3.14        Absence of Undisclosed Liabilities . Other than as disclosed by the Commission Reports and the financial statements of the Company included in the Commission Reports, the Company does not have any Liabilities. The Company has no Knowledge of any circumstances, conditions, events or arrangements which may hereafter give rise to any Liabilities of the Company.

 

3.15        Real Property . The Company does not own any fee simple interest in real property. The Company does not lease, sublease, or have any other contractual interest in any real property.

 

3.16        Benefit Plans and Agreements . Except as disclosed in the Commission Reports, the Company is not a party to any Benefit Plan (as defined in Section 4.17) or employment agreement under which the Company currently has an obligation to provide benefits to any current or former employee, officer, director, consultant or advisor of the Company.

 

3.17        Material Agreements . Except as disclosed in the Commission Reports, the Company has no other material written and oral contracts or agreements including without limitation any: (i) contract resulting in a commitment or potential commitment for expenditure or other obligation or potential obligation, or which provides for the receipt or potential receipt, involving in excess of One Hundred Thousand Dollars (USD100,000.00) in any instance, or series of related contracts that in the aggregate give rise to rights or obligations exceeding such amount; (ii) indenture, mortgage, promissory note, loan agreement, guarantee or other agreement or commitment for the borrowing or lending of money or encumbrance of assets involving more than One Hundred Thousand Dollars (USD100,000.00) in each instance; (iii) agreement which restricts the Company from engaging in any line of business or from competing with any other Person; or (iv) any other contract, agreement, instrument, arrangement or commitment that is material to the condition (financial or otherwise), results of operation, assets, properties, liabilities, or business of the Company (collectively, and together with the employment agreements, Employee Benefit Plans and all other agreements required to be disclosed on any schedule to this Agreement, the “Material Company Agreements”).

 

3.18        Disclosure . No representation or warranty of the Company contained in this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading or omits to state a material fact necessary in order to provide Investor with full and proper information as to the business, financial condition, assets, liabilities, and results of operation of the Company and the value of the properties or the ownership of the Company.

 

ARTICLE IV

 

Representations and Warranties of NDA and the Investors

 

In order to induce the Company to enter into this Agreement and to consummate the transactions contemplated hereby, NDA and each Investor hereby severally and not jointly makes the representations and warranties set forth below to the Company. The parties agree that except for the representations and warranties set forth in Sections 4.2, 4.6, 4.9 and 4.20, each representation made by the Investors in this Article IV is made to the best Knowledge of such Investor.

 

4.1        Organization . NDA is a Malaysia company duly organized, validly existing and in good standing under the laws of Malaysia. NDA has all requisite corporate power and authority to carry on its business as presently conducted. NDA is duly qualified to transact business in Malaysia and is in good standing as a foreign corporation in all jurisdictions where the ownership or leasing of its properties or the conduct of its business requires such qualification except where the failure to so qualify would not have a Material Adverse Effect on NDA.

 

4.2        Authorization; Enforceability . NDA and each Investor have the capacity to execute, deliver and perform this Agreement. This Agreement and all other documents executed and delivered by NDA and Investor pursuant to this Agreement have been duly executed and delivered and constitute the legal, valid and binding obligations of NDA and Investor, as applicable, assuming the due authorization, execution and delivery of this Agreement by the Company, enforceable in accordance with their respective terms, except to the extent that their enforcement is limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’ rights generally and by general principals of equity.

 

 

 

  7  

 

 

4.3        No Violation or Conflict . The execution, delivery and performance of this Agreement and the other documents contemplated hereby by NDA and Investor, and the consummation by Investor of the transactions contemplated hereby: (a) do not violate or conflict with any provision of law or regulation of Singapore and Malaysia, or any writ, order or decree of any court or governmental or regulatory authority, or any provision of NDA’s memorandum and articles of association; and (b) do not and will not, with or without the passage of time or the giving of notice, result in the breach of, or constitute a default (or an event that with notice or lapse of time or both would become a default), cause the acceleration of performance, give to others any right of termination, amendment, acceleration or cancellation of or require any consent under, or result in the creation of any lien, charge or encumbrance upon any property or assets of NDA pursuant to any instrument or agreement to which NDA is a party or by which NDA or its properties may be bound or affected, other than instruments or agreements as to which consent shall have been obtained at or prior to the Closing.

 

4.4         Consents of Governmental Authorities and Others . No consent, approval or authorization of, or registration, qualification or filing with governmental or regulatory authority, or any other Person, is required to be made by NDA or Investor in connection with the execution, delivery or performance of this Agreement by NDA or Investor, as applicable, or the consummation by NDA or Investor of the transactions contemplated hereby, excluding the execution, delivery and performance of this Agreement by the Company.

 

4.5         Litigation . There is no Litigation pending or threatened before any court or by or before any governmental or regulatory authority or arbitrator (a) affecting NDA (as plaintiff or defendant) or (b) against NDA relating to NDA Ordinary Stock or the transactions contemplated by this Agreement.

 

4.6        Brokers . None of NDA nor Investor has employed any broker or finder, and has not incurred and will not incur, directly or indirectly, any broker’s, finder’s, investment banking or similar fees, commissions or expenses in connection with the transactions contemplated by this Agreement or the Exchange Documents.

 

4.7        Compliance . NDA is in compliance with all ordinances, regulations, judgments, rulings, orders and other requirements imposed by the government of the Malaysia applicable to NDA and its assets and properties, except where such noncompliance would not have a Material Adverse Effect on NDA. To the Knowledge of NDA and Investor, it is not subject to any judicial, governmental or administrative inquiry, investigation, order, judgment or decree.

 

4.8        Charter, Bylaws and Corporate Records . The Company has been provided with true, correct and complete copies of (a) the memorandum and articles of association of NDA, as amended and in effect on the date hereof and (b) the minute book of NDA (containing all corporate proceedings from the date of incorporation). Such minute book contains accurate records of all meetings and other corporate actions of the board of directors, committees of the board of directors, incorporators and shareholders of NDA from the date of its incorporation to the date hereof which were memorialized in writing.

 

4.9        Capitalization . As of the date of this Agreement, the authorized capital stock of NDA is 1000 consisting of One Thousand (1000) shares of NDA Ordinary Stock at $1.00 (in Malaysia Ringgits) per share. NDA has issued and outstanding One Thousand (1000) shares of NDA Ordinary Stock. The issued and outstanding shares of NDA Ordinary Stock constitute one hundred percent (100%) of the issued and outstanding capital stock of NDA. All of the outstanding shares of NDA Ordinary Stock have been duly authorized, are validly issued and outstanding, and are fully paid and non-assessable. There are no dividends which have accrued or been declared but are unpaid on the capital stock of NDA.

 

4.10        Subsidiaries . NDA has no Subsidiaries.

 

4.11        Rights, Warrants, Options . There are no outstanding: (a) securities or instruments convertible into or exercisable for any of the capital stock or other equity interests of NDA; (b) options, warrants, subscriptions or other rights to acquire capital stock or other equity interests of NDA; or (c) commitments, agreements or understandings of any kind, including employee benefit arrangements, relating to the issuance or repurchase by NDA of any capital stock or other equity interests of NDA, or any instruments convertible or exercisable for any such securities or any options, warrants or rights to acquire such securities.

 

 

 

  8  

 

 

4.12        Conduct of Business . Except as set forth below, since inception, NDA has conducted its business in the ordinary and usual course consistent with past practices and there has not occurred any Material Adverse Effect in the condition (financial or otherwise), results of operations, properties, assets, liabilities, or business of NDA. Since inception, NDA has not (a) amended its memorandum and articles of association; (b) issued, sold or authorized for issuance or sale, shares of any class of its securities (including, but not limited to, by way of stock split or dividend) or any subscriptions, options, warrants, rights or convertible securities or entered into any agreements or commitments of any character obligating it to issue or sell any such securities; (c) redeemed, purchased or otherwise acquired, directly or indirectly, any shares of its capital stock or any option, warrant or other right to purchase or acquire any such capital stock; (d) suffered any damage, destruction or loss, whether or not covered by insurance, which has had or could reasonably be expected to have a Material Adverse Effect on any of its properties, assets, or business; granted or made any mortgage or pledge or subjected itself or any of its properties or assets to any lien, charge or encumbrance of any kind; (f) made or committed to make any capital expenditures in excess of USD100,000; (g) become subject to any guaranty; (h) granted any increase in the compensation payable or to become payable to directors, officers or employees (including, without limitation, any such increase pursuant to any severance package, bonus, pension, profit-sharing or other plan or commitment); (i) entered into any agreement which would be a material agreement, or amended or terminated any existing material agreement; (j) been named as a party in any Litigation, or become the focus of any investigation by any government or regulatory agency or authority; (k) declared or paid any dividend or other distribution with respect to its capital stock; or (l) experienced any other event or condition of any character which has had, or could reasonably be expected to have, a Material Adverse Effect on NDA.

 

4.13 Taxes.

 

(a)              all Taxes payable by NDA (if any) have been fully and timely paid;

 

(b)              neither NDA nor any Person on behalf of or with respect to NDA has executed or filed any agreements or waivers extending any statute of limitations on or extending the period for the assessment or collection of any Tax. No power of attorney on behalf of NDA with respect to any Tax matter is currently in force;

 

(c)              NDA is not a party to any Tax-sharing agreement or similar arrangement with any other party (whether or not written), and NDA has not assumed any Tax obligations of, or with respect to any transaction relating to, any other Person, or agreed to indemnify any other Person with respect to any Tax;

 

(d)              no Tax Return concerning or relating to NDA or its operations has ever been audited by a government or taxing authority, nor is any such audit in process or pending, and NDA has not been notified of any request for such an audit or other examination. To the Knowledge of Investor, no claim has been made by a taxing authority in a jurisdiction where Tax Returns concerning or relating to NDA or its operations have not been filed, that it is or may be subject to taxation by that jurisdiction;

 

(e)              NDA has never been included in any consolidated, combined, or unitary Tax Return; and

 

(f)               NDA has complied in all material respects with all applicable Laws relating to the payment and withholding of Taxes, and has duly and timely withheld from employee salaries, wages and other compensation, and has paid over to the appropriate taxing authorities, all amounts required to be so withheld and paid over for all periods under all applicable laws.

 

4.14        Environmental Matters . (a) No real property used by NDA presently or in the past has been used to manufacture, treat, store, or dispose of any hazardous substance and such property is free of all such substances such that the condition of the property is in compliance with applicable Environmental Laws; (b) NDA is in compliance with all Environmental Laws applicable to NDA or its business as a result of any hazardous substance utilized by NDA in its business or otherwise placed at any of the facilities owned, leased or operated by NDA, or in which NDA has a contractual interest; (c) NDA has not received any complaint, notice, order, or citation of any actual, threatened or alleged noncompliance by NDA with any Environmental Laws; and (d) there is no Litigation pending or threatened against NDA with respect to any violation or alleged violation of the Environmental Laws, and there is no reasonable basis for the institution of any such Litigation.

 

 

 

  9  

 

 

4.15        Financial Statements . The Financial Statements, if relevant, shall: (a) have been prepared in accordance with the books of account and records of NDA; (b) fairly present, and are true, correct and complete statements in all material respects of NDA’s financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with International Financial Reporting Standards consistently applied with prior periods.

 

4.16        Absence of Undisclosed Liabilities . Other than as disclosed in the Financial Statements, NDA does not have any Liabilities. None of NDA nor Investor has any Knowledge of any circumstances, conditions, events or arrangements which may hereafter give rise to any Liabilities of NDA.

 

4.17        Employment Agreements; Employee Benefit Plans and Employee Payments . NDA is not a party to any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally binding) under which NDA currently has an obligation to provide benefits to any current or former employee, officer, director, consultant or advisor of NDA (collectively, “Benefit Plans”).

 

4.18        Assets & Liabilities . NDA has good, clear and marketable title to all the tangible properties and tangible assets reflected in the Financial Statements as being owned by NDA or acquired after the date thereof which are, individually or in the aggregate, material to NDA’s business (except properties sold or otherwise disposed of since the date thereof in the ordinary course of business), free and clear of all liens.

 

4.19        Disclosure . No representation or warranty of NDA or Investor contained in this Agreement, and no statement, report, or certificate furnished by or on behalf of Investor to the Company pursuant hereto or in connection with the transactions contemplated hereby, contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading or omits to state a material fact necessary in order to provide the Company with full and proper information as to the business, financial condition, assets, liabilities, or results of operation of NDA and the value of the properties or the ownership of NDA.

 

4.20        Further Representations and Warranties . The Investors (by their respective signatures) further hereby represent and warrant to the Company that:

 

a.       They understand that the shares of the Company Common Stock (collectively, the “Securities”) to be issued to them pursuant to this Agreement HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES AGENCIES AND NO REGISTRATION STATEMENT HAS BEEN FILED WITH ANY REGULATORY AGENCY;

 

b.       They are not an underwriter and would be acquiring the Securities solely for investment for his or her own account and not with a view to, or for, resale in connection with any distribution within the meaning of the federal securities act, the state securities acts or any other applicable state securities acts;

 

c.       They are not a person in the United States of America and at the time the buy order was originated, were outside the United States of America and are not a citizen of the United States or a “U.S. person” as that term is defined in Regulation S of the Securities Act and was not formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act;

 

d.       They understand the speculative nature and risks of investments associated with the Company, and confirm that the acquisition of the Securities would be suitable and consistent with their investment program and that their financial position enables him or her to bear the risks of this investment;

 

e.       To the extent that any federal, and/or state securities laws shall require, they hereby agree that any securities acquired pursuant to this Agreement shall be without preference as to assets;

 

f.       The certificate for shares of the Securities will contain a legend that transfer is prohibited except in accordance with the provisions of Regulation S;

 

 

 

  10  

 

 

g.       They have had the opportunity to ask questions of the Company and have received all information from the Company to the extent that the Company possessed such information, necessary to evaluate the merits and risks of any investment in the Company. Further, they acknowledge receipt of: (1) all material books, records and financial statements of the Company; (2) all material contracts and documents relating to the proposed transaction; (3) all documents and reports filed with the Commission; and, (4) an opportunity to question the appropriate executive officers or partners;

 

h.       They have satisfied the suitability standards and securities laws imposed by the government of the respective country he or she resides;

 

i.       They have adequate means of providing for their current needs and personal contingencies and have no need to sell the Securities acquired in the foreseeable future (that is at the time of the investment, they can afford to hold the investment for an indefinite period of time);

 

j.       They have sufficient knowledge and experience in financial matters to evaluate the merits and risks of this investment and further, are capable of reading and interpreting financial statements. Further, they are “sophisticated investors” as that term is defined in applicable court cases and the rules, regulations and decisions of the United States Securities and Exchange Commission;

 

k.        The offer and sale of the Securities referred to herein is being made outside the United States within the meaning of and in full compliance with Regulation S;

 

l.       They are not a U. S. person within the meaning of Regulation S and are not acquiring the Shares for the account or benefit of any U. S. person;

 

m.       They do not have a short position in, or other hedged position with respect to the Securities, will not have a short position in, or other hedged position with respect to, the securities described herein unless in compliance with the Securities Act and Regulation S promulgated thereunder; and

 

n.       They agree to resell such Securities only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration.

 

 

ARTICLE V

 

Additional Agreements

 

5.1        Survival of the Representations and Warranties . The representations and warranties and covenants set forth in Article III and Article IV of this Agreement shall survive the Closing until the expiration of twelve (12) months from the Closing Date. No claim for indemnity with respect to breaches of representations and warranties may be brought by any party hereto, other than a claim for fraud or intentional misrepresentation, after expiration of the applicable survival period therefore as set forth in this Section 5.1.

 

5.2        Investigation . The representations, warranties, covenants and agreements set forth in this Agreement shall not be affected or diminished in any way by any investigation (or failure to investigate) at any time by or on behalf of the party for whose benefit such representations, warranties, covenants and agreements were made. All statements contained herein or in any schedule, certificate, exhibit, list or other document required to be delivered pursuant hereto, shall be deemed to be representations and warranties for purposes of this Agreement; provided, that any knowledge or materiality qualifications contained herein shall be applicable to such other documents.

 

 

 

  11  

 

 

5.3        General Confidentiality . Each of the parties hereto will treat and hold as such all of the Confidential Information of the other party, refrain from using any of the Confidential Information except in connection with this Agreement, and unless there is a closing on the Exchange, deliver promptly to the owner of such Confidential Information or destroy, at the request and option of the owner of the Confidential Information, all tangible embodiments (and all copies) of the Confidential Information which are in its possession. In the event that any of the parties is requested or required (by oral question or request for information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or similar process) to disclose any Confidential Information, that party will notify the affected party promptly of the request or requirement so that the affected party may seek an appropriate protective order or waive compliance with the provisions of this Section 5.3. If, in the absence of a protective order or the receipt of a waiver hereunder, any of the parties is, on the advice of counsel, compelled to disclose any Confidential Information to any tribunal or else stand liable for contempt, that Party may disclose the Confidential Information to the tribunal; provided, however, that the disclosing party shall use its commercially reasonable efforts to obtain, at the request of the affected party, an order or other assurance that confidential treatment will be accorded to such portion of the Confidential Information required to be disclosed as the affected party shall designate. The foregoing provisions shall not apply to any Confidential Information which is generally available to the public immediately prior to the time of disclosure.

 

5.4        Tax Treatment . Neither the Company nor Investors will knowingly take any action, written or otherwise, which would result in the transactions contemplated by this Agreement not being accounted for as tax-free exchange under the Code.

 

5.5        General . In case at any time after the Closing Date any further action is necessary to carry out the purposes of this Agreement, each of the parties will take such further action (including the execution and delivery of such further instruments and documents) as the other party reasonably may request, all at the sole cost and expense of the requesting party.

 

ARTICLE VI

 

Closing; Deliveries; Conditions Precedent

 

6.1        Closing; Effective Date . All proceedings taken and all documents executed at the Closing shall be deemed to have been taken, delivered and executed simultaneously, and no proceeding shall be deemed taken nor documents deemed executed or delivered until all have been taken, delivered and executed.

 

6.2        Deliveries

 

(a) At Closing, the Company shall deliver the following documents to the Investor Representative:

 

(i)               a certificate, dated the Closing Date, signed by the directors of the Company setting forth that: (i) authorizing resolutions were adopted by all the directors of the Company approving the acquisition of the Sold NDA Stock by the Company from the Investors in consideration of 510,000 shares of the Company Common Stock in aggregate to the Investors and the Exchange under the terms and conditions of this Agreement; and (ii) the Company’s transfer agent has been authorized to issue the shares of the Company Common Stock to the Investors in accordance with Section 2.4 hereof (the aggregate of which represents the Consideration) and the other documents contemplated hereby and the transactions contemplated hereby and thereby.

 

(ii)             the certificate referred to in Section 6.3(d).

 

(b)              At Closing, the Investor Representative and NDA shall deliver the following documents to the Company:

 

(i)               A power of attorney executed by the Investors appointing the Investor Representative as attorney-in-fact to negotiate and execute this Agreement and any amendments thereto on behalf of the Investors;

 

(ii)             the NDA Certificates or Records representing all of the Sold NDA Stock (i.e. 51% of the issued and outstanding shares of NDA Ordinary Stock);

 

 

 

  12  

 

 

(iii)           a certificate from a director or the company secretary of NDA, as of a recent date, as to the good standing of NDA and certifying its Memorandum and Articles of Association;

 

(iv)            that certain Shareholders’ Agreement, if any, by and among NIA, NDA and Cheng Bok Woon;

 

(v)              certificates, dated the Closing Date, signed by a director of NDA setting forth that authorizing resolutions were adopted by NDA’s Board of Directors approving the transfer of all the Sold NDA Stock to the Company, this Agreement and the other documents contemplated hereby and the transactions contemplated hereby and thereby;

 

(vi)            the Financial Statements, if relevant; and

 

(vii)          the certificates referred to in Section 6.4(d).

 

6.3        Conditions Precedent to the Obligations of NDA and the Investors . Each and every obligation to consummate the transactions described in this Agreement and any and all liability of NDA and the Investors to the Company shall be subject to the following conditions precedent:

 

(a)              Representations and Warranties True. Each of the representations and warranties of the Company contained herein or in any certificate or other document delivered pursuant to this Agreement or in connection with the transactions contemplated hereby shall be true and correct in all material respects as of the Closing Date with the same force and effect as though made on and as of such date.

 

(b)              Performance. The Company shall have performed and complied in all material respects with all of the agreements, covenants and obligations required under this Agreement to be performed or complied with by them on or prior to the Closing Date.

 

(c)              No Material Adverse Change. Except as expressly permitted or contemplated by this Agreement, no event or condition shall have occurred which has adversely affected or may adversely affect in any respect the condition (financial or otherwise) of the Company between the date of execution of this Agreement and the Closing Date.

 

(d)              The Company’s Certificate. The Company shall have delivered to Investor a certificate dated the Closing Date and signed by a director of the Company, certifying that the conditions specified in Sections 6.3(a), (b) and (c) above have been fulfilled.

 

(e)              Consents. The Company shall have obtained all authorizations, consents, waivers and approvals as may be required to consummate the transactions contemplated by this Agreement.

 

6.4        Conditions Precedent to the Obligations of the Company . Each and every obligation of the Company to consummate the transactions described in this Agreement and any and all liability of the Company to NDA and the Investors shall be subject to the fulfilment of the following conditions precedent:

 

(a)              Representations and Warranties True. Each of the representations and warranties of NDA and the Investors contained herein or in any certificate or other document delivered pursuant to this Agreement or in connection with the transactions contemplated hereby shall be true and correct in all material respects as of the Closing Date with the same force and effect as though made on and as of such date.

 

(b)              Performance. NDA and the Investors shall have performed and complied in all material respects with all of the agreements, covenants and obligations required under this Agreement to be performed or complied with by it on or prior to the Closing Date.

 

(c)              No Material Adverse Change. Except as expressly permitted or contemplated by this Agreement, no event or condition shall have occurred which has adversely affected or may adversely affect in any respect the condition (financial or otherwise) of NDA between the date of execution of this Agreement and the Closing Date.

 

 

 

  13  

 

 

(d)              Investor’s Certificates. NDA and the Investor Representative shall have delivered a certificate or Records addressed to the Company, dated the Closing Date, certifying that the conditions specified in Sections 6.4(a), (b) and (c) above have been fulfilled.

 

(e)              Consents. NDA and the Investors shall have obtained all authorizations, consents, waivers and approvals as may be required to consummate the transactions contemplated by this Agreement, including but not limited to those with respect to any material agreement of NDA.

 

(f)               Due Diligence Review. The Company shall have completed within thirty (30) days from the date of this Agreement of its due diligence investigation of NDA to its satisfaction.

 

(g)              Financial Statements. NDA shall have delivered to the Company the Financial Statements. The Financial Statements shall: (a) have been prepared in accordance with the books of account and records of NDA; (b) fairly present, and are true, correct and complete statements in all material respects of NDA’s financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with US GAAP consistently applied with prior periods.

 

6.5        Best Efforts . Subject to the terms and conditions provided in this Agreement, each of the parties shall use their respective best efforts in good faith to take or cause to be taken as promptly as practicable all reasonable actions that are within its power to cause to be fulfilled those of the conditions precedent to its obligations or the obligations of the other parties to consummate the transactions contemplated by this Agreement that are dependent upon its actions, including obtaining all necessary consents, authorizations, orders, approvals and waivers.

 

6.6        Termination . This Agreement and the transactions contemplated hereby may be terminated at any time prior to the occurrence of the Closing by the mutual consent of the parties hereto; (b) by the Company, if the Closing has not occurred on or prior to October 30, 2018, or such other date as may be agreed to by the parties hereto (such date of termination being referred to herein as the “Termination Date”), provided the failure of the Closing to occur by such date is not the result of the failure of the party seeking to terminate this Agreement to perform or fulfil any of its obligations hereunder; (c) by NDA or any Investor solely with respect to such Investor and NDA Ordinary Stock held by such Investor at any time at or prior to Closing in such Investor’s sole discretion if (i) any of the representations or warranties of the Company in this Agreement are not in all material respects true, accurate and complete or if the Company breaches in any material respect any covenant contained in this Agreement, provided that such misrepresentation or breach is not cured within fourteen (14) days after notice thereof, but in any event prior to the Termination Date or (ii) any of the conditions precedent to the Company’s obligations to conduct the Closing have not been satisfied by the date required thereof; or (d) by the Company at any time at or prior to Closing in its sole discretion if (i) any of the representations or warranties of Investor in this Agreement are not in all material respects true, accurate and complete or if Investor breaches in any material respect any covenant contained in this Agreement, provided that such misrepresentation or breach is not cured within fourteen (14) days after notice thereof, but in any event prior to the Termination Date or (ii) any of the conditions precedent to the obligation of NDA and or the Investor to conduct the Closing have not been satisfied by the date required thereof. If this Agreement is terminated pursuant to this Section 6.6, written notice thereof shall promptly be given by the party electing such termination to the other party and, subject to the expiration of the cure periods provided in clauses (c) and (d) above, if any, this Agreement shall terminate without further actions by the parties and no party shall have any further obligations under this Agreement.

 

6.7        Shares Issuance . Within Thirty (30) days after the Closing, the Company shall take all necessary steps to issue and deliver to the Investor Representative the share certificates evidencing the Company Common Stock issuable in the names of the respective Investors for the respective number of shares to which such Investors are entitled pursuant to Section 2.4 hereof.

 

 

ARTICLE VII

 

Miscellaneous

 

7.1        Notices . Any notice, demand, claim or other communication under this Agreement shall be in writing and delivered personally or sent by certified mail, return receipt requested, postage prepaid, or sent by facsimile or prepaid overnight courier to the parties at the addresses as follows (or at such other addresses as shall be specified by the parties by like notice):

 

If to the Company:    NOBLE VICI GROUP, INC.  
  1 Raffles Place, #33-02
  One Raffles Place Tower One
  Singapore 048616
  Attn: Secretary

 

If to Investor: To the address set forth below such Investor’s signature

 

 

 

  14  

 

 

Such notice shall be deemed delivered upon receipt against acknowledgment thereof if delivered personally, on the third business day following mailing if sent by certified mail, upon transmission against confirmation if sent by facsimile and on the next business day if sent by overnight courier.

 

7.2        Entire Agreement; Incorporation . This Agreement and the documents and instruments and other agreements among the parties hereto as contemplated by or referred to herein contain every obligation and understanding between the parties relating to the subject matter hereof and merges all prior discussions, negotiations, agreements and understandings, both written and oral, if any, between them, and none of the parties shall be bound by any conditions, definitions, understandings, warranties or representations other than as expressly provided or referred to herein. All schedules, exhibits and other documents and agreements executed and delivered pursuant hereto are incorporated herein as if set forth in their entirety herein.

 

7.3        Binding Effect . This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, heirs, personal representatives, legal representatives, and permitted assigns.

 

7.4        Assignment . This Agreement may not be assigned by any party without the written prior consent of the other party. Subject to the preceding sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

7.5        Waiver and Amendment . Any representation, warranty, covenant, term or condition of this Agreement which may legally be waived, may be waived, or the time of performance thereof extended, at any time by the party hereto entitled to the benefit thereof, and any term, condition or covenant hereof (including, without limitation, the period during which any condition is to be satisfied or any obligation performed) may be amended by the parties thereto at any time. Any such waiver, extension or amendment shall be evidenced by an instrument in writing executed on behalf of the party against whom such waiver, extension or amendment is sought to be charged. No waiver by any party hereto, whether express or implied, of its rights under any provision of this Agreement shall constitute a waiver of such party’s rights under such provisions at any other time or a waiver of such party’s rights under any other provision of this Agreement. No failure by any party thereof to take any action against any breach of this Agreement or default by another party shall constitute a waiver of the former party’s right to enforce any provision of this Agreement or to take action against such breach or default or any subsequent breach or default by such other party.

 

7.6        No Third Party Beneficiary . Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any Person other than the parties hereto and their respective heirs, personal representatives, legal representatives, successors and permitted assigns, any rights or remedies under or by reason of this Agreement, except as otherwise provided herein.

 

7.7        Severability . In the event that any one or more of the provisions contained in this Agreement, or the application thereof, shall be declared invalid, void or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall remain in full force and effect and the application of such provision to other Persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such invalid, void or unenforceable provision with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid, void or unenforceable provision.

 

7.8        Expenses . Except as otherwise provided herein, each party agrees to pay, without right of reimbursement from the other party, the costs incurred by it incident to the performance of its obligations under this Agreement and the consummation of the transactions contemplated hereby, including, without limitation, costs incident to the preparation of this Agreement, and the fees and disbursements of counsel, accountants and consultants employed by such party in connection herewith.

 

7.9        Headings . The table of contents and the section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of any provisions of this Agreement.

 

 

 

  15  

 

 

7.10        Other Remedies; Injunctive Relief . Except as otherwise provided herein, any and all remedies herein expressly conferred upon a party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that subject to Section 7.13 hereof, the parties shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court in Singapore, this being in addition to any other remedy to which they are entitled at law or in equity. In any action at law or suit in equity to enforce this Agreement or the rights of the parties hereunder, the prevailing party in any such action or suit shall be entitled to receive a reasonable sum for its attorneys’ fees and all other reasonable costs and expenses incurred in such action or suit.

 

7.11        Counterparts . This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Facsimile signatures shall be deemed valid and binding.

 

7.12        Governing Law . This Agreement has been entered into and shall be construed and enforced in accordance with the laws of the Singapore, without reference to the choice of law principles thereof.

 

7.13        Jurisdiction and Venue . This Agreement shall be subject to the exclusive jurisdiction of the courts of the Singapore. The parties to this Agreement agree that any breach of any term or condition of this Agreement shall be deemed to be a breach occurring in the Singapore by virtue of a failure to perform an act required to be performed in Singapore and irrevocably and expressly agree to submit to the jurisdiction of the courts of Singapore for the purpose of resolving any disputes among the parties relating to this Agreement or the transactions contemplated hereby. The parties irrevocably waive, to the fullest extent permitted by law, any objection which they may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, or any judgment entered by any court in respect hereof brought in Singapore, and further irrevocably waive any claim that any suit, action or proceeding brought in the Singapore has been brought in an inconvenient forum.

 

7.14        Participation of Parties . The parties hereby agree that they have consulted their respective counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding, or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

 

7.15        Further Assurances . The parties hereto shall deliver any and all other instruments or documents reasonably required to be delivered pursuant to, or necessary or proper in order to give effect to, all of the terms and provisions of this Agreement including, without limitation, all necessary stock powers and such other instruments of transfer as may be necessary or desirable to transfer full and complete ownership of the Sold NDA Stock to the Company or the issuance of the applicable Securities to the Investors for the Consideration, as the case may be, free and clear of any liens or encumbrances.

 

7.16        Publicity . No public announcement or other publicity concerning this Agreement or the transactions contemplated hereby shall be made without the prior written consent of both the Company and Investor as to form, content, timing and manner of distribution. Nothing contained herein shall prevent any party from making any filing required by federal or state securities laws or stock exchange rules of the United States of America.

 

7.17        No Solicitation . None of NDA, Investor nor the Company shall authorize or permit any of its officers, directors, agents, representatives, managers, members, agents, or advisors to solicit, initiate or encourage or take any action to facilitate the submission of inquiries, proposals or offers from any person relating to any matter concerning any merger, consolidation, business combination, recapitalization or similar transaction involving NDA or the Company, respectively, other than the transaction contemplated by this Agreement or any other transaction the consummation of which would or could reasonably be expected to impede, interfere with, prevent or delay the Exchange or which would or could be expected to dilute the benefits to each of the parties of the transactions contemplated hereby. Investor and the Company will immediately cease and cause to be terminated any existing activities, discussions and negotiations with any parties conducted heretofore with respect to any of the foregoing.

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

 

  16  

 

 

IN WITNESS WHEREOF , the parties hereto have each executed and delivered this Agreement as of the day and year first above written.

 

 

NOBLE VICI GROUP, INC.

 

 

 

By: /s/ Eldee Wai Chong Tang

       Eldee Wai Chong Tang, Chief Executive Officer

 

 

 

 

NOBLE INFOTECH APPLICATIONS PTE. LTD.

 

 

 

 

By: /s/ Tan Hong Hui

       Tan Hong Hui, Managing Director

 

 

 

NOBLE DIGITAL APPS SDN. BHD.

 

 

 

By: /s/ CHENG BOK WOON

 

 

Print Name: ___CHENG BOK WOON

 

 

Its: Chief Executive Officer

 

 

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

 

  17  

 

 

INVESTOR 1

 

 

/s/ Cheng Bok Woon

Signature

 

 

 

Cheng Bok Woon

Print Name

 

 

 

204                                    

No. of NDA Ordinary Shares

 

 

INVESTOR 2

 

 

/s/ Tan Yew Fu

Signature

 

 

 

Tan Yew Fui

Print Name

 

 

 

153                                          

No. of NDA Ordinary Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

  18  

 

 

INVESTOR 3

 

 

/s/ Yong Swee Sun

Signature

 

 

 

Yong Swee Sun

Print Name

 

 

 

153                                          

No. of NDA Ordinary Shares

 

 

 

 

 

Address:

 

No.133C, Jalan Desa 1/3,

Desa Aman Puri,

Kepong 52100

Kuala Lumpur W.P.

Kuala Lumpur

Malaysia

 

 

[REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]

 

 

 

 

  19  

Exhibit 10.3

 

Stockholder Representation Letter

 

Date: _________, 2018

 

Noble Vici Group, Inc., a Delaware corporation (the “Company”), desires to issue to me up to _______ shares of restricted common stock of the Company (the “Shares”), as consideration for certain sales and marketing services previously provided to the Company. As a condition of receipt of the Shares, I am required to make the representations, warranties and agreements contained in this Stockholder Representation Letter (this “Letter”). I acknowledge and agree that the Company and its agents are relying on the truth, accuracy and completeness of my representations and warranties herein as a precondition to the offer of the Shares to me without having first registered the Shares under the Securities Act of 1933, as amended (the “Securities Act”). All representations, warranties and covenants contained in this Letter shall survive the execution and delivery of this Letter and the consummation of the transactions contemplated hereunder

 

1.      On or prior to 2018, I provided services to the Company, including sales and marketing services. I acknowledge and agree that I am receiving the Shares in consideration for such services provided.

 

2.      I am a natural person, have reached the age of 21 and have full power and authority to execute and deliver this Letter and all other related agreements or certificates and to carry out the provisions hereof and thereof. I am a citizen of the country set forth below my signature.

 

3.      I agree that, without the prior written consent of the Company and only in accordance with the terms of this Letter, I will not during the period commencing on the date first set forth above (the “Effective Date”) and ending on the 18 month anniversary thereof (i) offer, pledge, gift, donate, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Shares, or (ii) enter into any swap, option (including, without limitation, put or call options), short sale, future, forward or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Shares, whether any such transaction is to be settled by delivery of shares of the Company’s Common Stock or such other securities, in cash or otherwise. On the 18 -month anniversary of the Effective Date and subject to me providing the Corporation all normal and customary information and documents, I will be entitled to sell, at my expense, the Shares.

 

I further acknowledge and agree that I shall have no right at any time to sell, assign, pledge, hypothecate, distribute (as a dividend or otherwise), transfer or otherwise dispose of or encumber the Shares (except by will or by the laws of descent and distribution), unless the Company shall first have been provided with an opinion of counsel acceptable to the Company that such sale or transfer is exempt from such registration under the Securities Act and any applicable state securities laws. I consent to the placement of one or more restrictive legends on the certificate(s) representing the Shares evidencing such restrictions. I acknowledge and agree that the Company: (i) may impose stop transfer instructions with respect to the Shares to enforce the restrictions set forth herein; and (ii) shall not register the transfer (by book-entry or otherwise) of any certificate representing any of the Shares unless such transfer is made pursuant to and in compliance with the terms and conditions of this Agreement.

 

4.      I hereby authorize delivery of the newly issued certificate(s) representing the Shares to c/o Noble Vici Private Limited, 36 Kaki Bukit Place, #04-01, Singapore 416214, Singapore.

 

Regulation S Representations and Warranties

 

5.      I am not a U.S. Person, as such term is defined in Regulation S. The term “U.S. Person” as defined in Regulation S means: (s) any natural person resident in the United States; (t) any partnership or corporation organized or incorporated under the laws of the United States; (u) any estate of which any executor or administrator is a U.S. Person; (v) any trust of which any trustee is a U.S. Person; (w) any agency or branch of a foreign entity located in the United States; (x) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. Person; (y) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (z) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act unless it is organized or incorporated, and owned by, accredited investors (as defined in Rule 501(a) under the Securities Act) that are not natural persons, estates or trusts.

 

 

 

  1  

 

 

6.      No offer or sale of the Shares was made to me in the United States.

 

7.      I am not purchasing the Shares for the account or on behalf of any U.S. Person. I have not made any pre-arrangement to transfer the Shares to a U.S. Person or to return the Shares to the United States securities markets (which includes short sales and hedging transactions in the United States within the periods restricted under Regulation S (the “ Restricted Periods ”) to be covered by delivery of Shares) and the purchase of the Shares by me is not a transaction (or part of a series of transactions) that is part of any plan or scheme to evade the registration provisions of the Securities Act.

 

8.      I acknowledge and understand that all offers and sales of the Shares by me in the United States or to U.S. Persons or otherwise, whether prior to the expiration or after the expiration of the Restricted Periods, shall be made only pursuant to a registration of the Shares under the Securities Act or an exemption from registration requirements of the Securities Act. I also acknowledge and understand that the Company will, in order to approve removal of the restrictive legend from certificates evidencing the Shares, require from me (i) certain written representations to indicate that the sale of the Shares was made in a transaction that complies with the provisions of Regulation S, pursuant to a registration of the Shares under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act and (ii) require a legal opinion that removal of the legend is appropriate.

 

9.      I have not engaged in any “directed selling efforts” (as defined in Regulation S) in the United States regarding the Shares, or in any act intended to or that reasonably might have the effect of preconditioning the U.S. market for the resale of the Shares.

 

10.   I am not a “distributor” as defined in Regulation S. I acknowledge, understand and agree that, if I should be deemed to be a distributor prior to reselling the Shares to a non-U.S. Person during the Restricted Periods, I will send a notice to each new subscriber of the Shares that such new subscriber is subject to the restrictions of Regulation S during the Restricted Periods.

 

11.   I am not an officer, director or “affiliate” (as that term is defined in Rule 405 under the Securities Act) of the Company or an “underwriter” or “dealer” (as such terms are defined in the federal securities laws of the United States). I understand and agree that, if I become an affiliate of the Company at any time after acquiring the Shares, every sale made by me thereafter must be made in compliance with the provisions of Rule 144 of the Securities Act (“ Rule 144 ”), including the filing of Form 144 with the U.S. Securities and Exchange Commission at the time of the sale, as required under Rule 144. I understand and agree that the provisions of Rule 144, if at any time applicable to me, are separate and apart from, and independent of, any restrictions imposed by Regulation S and will apply even after the expiration of the Restricted Periods;

 

12.   I do not have a short position in, or other hedged position with respect to, the Shares or the shares of Common Stock of the Company and will not have a short position in, or other hedged position with respect to, such securities at any time prior to the expiration of the Restricted Periods.

 

13.   If at any time after the expiration of the Restricted Periods I wish to transfer or attempt to transfer the Shares to a U.S. Person, I agree to notify the Company if at such time I am an “affiliate” of the Company or am then acting as an “underwriter,” “dealer” or “distributor” as to such Shares (as such terms are defined in the federal securities laws of the United States or the regulations promulgated thereunder, including, but not limited to, Regulation S), or if such transfer is being made as part of a plan or scheme to evade the registration provisions of the Securities Act.

 

General Representations and Warranties

 

14.   The execution and delivery of this Agreement will not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which I am a party or by which I am bound.

 

15.   I am acquiring the Shares for investment purposes only, for my own account, and not with a view to, or for resale in connection with, any distribution thereof within the meaning of the Securities Act.

 

16.   I have adequate means for providing for my current financial needs and anticipated future needs and possible contingencies and emergencies and have no need for liquidity in the investment in the Shares.

 

 

 

  2  

 

 

17.   I have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of my investment.

 

18.   I have not acquired the Shares as a result of any form of general solicitation or general advertising, including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, or television, or any seminar or, meeting whose attendees have been invited by general solicitation or general advertising.

 

19.   I understand that no public market now exists for any of the securities issued by the Company and that it is unlikely that a public market will ever exist for the Shares.

 

20.   I understand, acknowledge and agree (i) that the Shares have not been registered under (and that the Company has no present intention to register the Shares under) the Securities Act or applicable state securities law and that the offering of such Shares is being made in reliance on the exemption from the registration requirements provided by Section 4(2) of the Securities Act and the regulations promulgated thereby and analogous provisions of certain state securities laws or in accordance with Regulation S under the Securities Act (“ Regulation S ”), and (ii) that such Shares may not be sold or otherwise transferred by me unless the Shares have been registered under the Securities Act and applicable state securities laws or are sold or transferred in a transaction exempt therefrom.

 

  Very truly yours,
   
   
   
   
  ______________________________
  Name:
   
   
  Address:
   
   
   
  ______________________________
  Country of Citizenship
   
   
   
__ ______________________________
  Government ID number
   
  [copy of photo identification card attached]

 

 

 

  3  

 

 

Stockholder Representation Letter

 

Date: _________, 2018

 

Noble Vici Group, Inc., a Delaware corporation (the “Company”), desires to issue to me up to _______ shares of restricted common stock of the Company (the “Shares”), as consideration for certain sales and marketing services previously provided to the Company. As a condition of receipt of the Shares, I am required to make the representations, warranties and agreements contained in this Stockholder Representation Letter (this “Letter”). I acknowledge and agree that the Company and its agents are relying on the truth, accuracy and completeness of my representations and warranties herein as a precondition to the offer of the Shares to me without having first registered the Shares under the Securities Act of 1933, as amended (the “Securities Act”). All representations, warranties and covenants contained in this Letter shall survive the execution and delivery of this Letter and the consummation of the transactions contemplated hereunder

 

1.      On or prior to 2018, I provided services to the Company, including sales and marketing services. I acknowledge and agree that I am receiving the Shares in consideration for such services provided.

 

2.      I am a natural person, have reached the age of 21 and have full power and authority to execute and deliver this Letter and all other related agreements or certificates and to carry out the provisions hereof and thereof. I am a citizen of the country set forth below my signature.

 

3.      I agree that, without the prior written consent of the Company and only in accordance with the terms of this Letter, I will not during the period commencing on the date first set forth above (the “Effective Date”) and ending on the 66 month anniversary thereof (i) offer, pledge, gift, donate, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Shares, or (ii) enter into any swap, option (including, without limitation, put or call options), short sale, future, forward or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Shares, whether any such transaction is to be settled by delivery of shares of the Company’s Common Stock or such other securities, in cash or otherwise. On the 18 -month anniversary of the Effective Date and subject to me providing the Corporation all normal and customary information and documents, I will be entitled to sell, at my expense, the Shares (on a cumulative basis) as follows:

 

Date of Sale Amount of Shares Entitled to Sell
After 18 month anniversary of Effective Date 20% of Shares
After 30 month anniversary of Effective Date 20% of Shares
After 42 month anniversary of Effective Date 20% of Shares
After 54 month anniversary of Effective Date 20% of Shares
After 66 month anniversary of Effective Date 20% of Shares
TOTAL 100% of Shares

 

II further acknowledge and agree that I shall have no right at any time to sell, assign, pledge, hypothecate, distribute (as a dividend or otherwise), transfer or otherwise dispose of or encumber the Shares (except by will or by the laws of descent and distribution), unless the Company shall first have been provided with an opinion of counsel acceptable to the Company that such sale or transfer is exempt from such registration under the Securities Act and any applicable state securities laws. I consent to the placement of one or more restrictive legends on the certificate(s) representing the Shares evidencing such restrictions. I acknowledge and agree that the Company: (i) may impose stop transfer instructions with respect to the Shares to enforce the restrictions set forth herein; and (ii) shall not register the transfer (by book-entry or otherwise) of any certificate representing any of the Shares unless such transfer is made pursuant to and in compliance with the terms and conditions of this Agreement.

 

 

 

  4  

 

 

4.      I agree that, if I terminate my service to the Company after the Shares are issued to me, I will return my Shares held by me to the Company as follows:

 

Date of Termination Amount of Shares to Return
On or before 18 month anniversary of Effective Date 100% of Shares
After 18 month and on or before 30 month anniversary of Effective Date 80% of Shares
After 30 month and on or before 42 month anniversary of Effective Date 60% of Shares
After 42 month and on or before 54 month anniversary of Effective Date 40% of Shares
After 54 month and on or before 66 month anniversary of Effective Date 20% of Shares
After 66 month anniversary of Effective Date Nil

 

5.      I hereby authorize delivery of the newly issued certificate(s) representing the Shares to c/o Noble Vici Private Limited, 36 Kaki Bukit Place, #04-01, Singapore 416214, Singapore.

 

Regulation S Representations and Warranties

 

1.      I am not a U.S. Person, as such term is defined in Regulation S. The term “U.S. Person” as defined in Regulation S means: (s) any natural person resident in the United States; (t) any partnership or corporation organized or incorporated under the laws of the United States; (u) any estate of which any executor or administrator is a U.S. Person; (v) any trust of which any trustee is a U.S. Person; (w) any agency or branch of a foreign entity located in the United States; (x) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. Person; (y) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (z) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act unless it is organized or incorporated, and owned by, accredited investors (as defined in Rule 501(a) under the Securities Act) that are not natural persons, estates or trusts.

 

2.      No offer or sale of the Shares was made to me in the United States.

 

3.      I am not purchasing the Shares for the account or on behalf of any U.S. Person. I have not made any pre-arrangement to transfer the Shares to a U.S. Person or to return the Shares to the United States securities markets (which includes short sales and hedging transactions in the United States within the periods restricted under Regulation S (the “ Restricted Periods ”) to be covered by delivery of Shares) and the purchase of the Shares by me is not a transaction (or part of a series of transactions) that is part of any plan or scheme to evade the registration provisions of the Securities Act.

 

4.      I acknowledge and understand that all offers and sales of the Shares by me in the United States or to U.S. Persons or otherwise, whether prior to the expiration or after the expiration of the Restricted Periods, shall be made only pursuant to a registration of the Shares under the Securities Act or an exemption from registration requirements of the Securities Act. I also acknowledge and understand that the Company will, in order to approve removal of the restrictive legend from certificates evidencing the Shares, require from me (i) certain written representations to indicate that the sale of the Shares was made in a transaction that complies with the provisions of Regulation S, pursuant to a registration of the Shares under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act and (ii) require a legal opinion that removal of the legend is appropriate.

 

5.      I have not engaged in any “directed selling efforts” (as defined in Regulation S) in the United States regarding the Shares, or in any act intended to or that reasonably might have the effect of preconditioning the U.S. market for the resale of the Shares.

 

6.      I am not a “distributor” as defined in Regulation S. I acknowledge, understand and agree that, if I should be deemed to be a distributor prior to reselling the Shares to a non-U.S. Person during the Restricted Periods, I will send a notice to each new subscriber of the Shares that such new subscriber is subject to the restrictions of Regulation S during the Restricted Periods.

 

 

 

  5  

 

 

7.      I am not an officer, director or “affiliate” (as that term is defined in Rule 405 under the Securities Act) of the Company or an “underwriter” or “dealer” (as such terms are defined in the federal securities laws of the United States). I understand and agree that, if I become an affiliate of the Company at any time after acquiring the Shares, every sale made by me thereafter must be made in compliance with the provisions of Rule 144 of the Securities Act (“ Rule 144 ”), including the filing of Form 144 with the U.S. Securities and Exchange Commission at the time of the sale, as required under Rule 144. I understand and agree that the provisions of Rule 144, if at any time applicable to me, are separate and apart from, and independent of, any restrictions imposed by Regulation S and will apply even after the expiration of the Restricted Periods;

 

8.      I do not have a short position in, or other hedged position with respect to, the Shares or the shares of Common Stock of the Company and will not have a short position in, or other hedged position with respect to, such securities at any time prior to the expiration of the Restricted Periods.

 

9.      If at any time after the expiration of the Restricted Periods I wish to transfer or attempt to transfer the Shares to a U.S. Person, I agree to notify the Company if at such time I am an “affiliate” of the Company or am then acting as an “underwriter,” “dealer” or “distributor” as to such Shares (as such terms are defined in the federal securities laws of the United States or the regulations promulgated thereunder, including, but not limited to, Regulation S), or if such transfer is being made as part of a plan or scheme to evade the registration provisions of the Securities Act.

 

General Representations and Warranties

 

10.   The execution and delivery of this Agreement will not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which I am a party or by which I am bound.

 

11.   I am acquiring the Shares for investment purposes only, for my own account, and not with a view to, or for resale in connection with, any distribution thereof within the meaning of the Securities Act.

 

12.   I have adequate means for providing for my current financial needs and anticipated future needs and possible contingencies and emergencies and have no need for liquidity in the investment in the Shares.

 

13.   I have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of my investment.

 

14.   I have not acquired the Shares as a result of any form of general solicitation or general advertising, including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, or television, or any seminar or, meeting whose attendees have been invited by general solicitation or general advertising.

 

15.   I understand that no public market now exists for any of the securities issued by the Company and that it is unlikely that a public market will ever exist for the Shares.

 

16.   I understand, acknowledge and agree (i) that the Shares have not been registered under (and that the Company has no present intention to register the Shares under) the Securities Act or applicable state securities law and that the offering of such Shares is being made in reliance on the exemption from the registration requirements provided by Section 4(2) of the Securities Act and the regulations promulgated thereby and analogous provisions of certain state securities laws or in accordance with Regulation S under the Securities Act (“ Regulation S ”), and (ii) that such Shares may not be sold or otherwise transferred by me unless the Shares have been registered under the Securities Act and applicable state securities laws or are sold or transferred in a transaction exempt therefrom.

 

  Very truly yours,
   
   
   
  _______________
  Address:
  ________________
  ________________
   
  ______________________________
  Country of Citizenship
   
  _______________________________
  Government ID number
   
   
  [copy of photo identification card attached]

 

 

 

  7