Common use of Transaction Descriptive Summary Clause in Contracts

Transaction Descriptive Summary. HEXC desires to acquire Golden Sand and the Golden Sand Shareholders wish to be acquired by a public company. HEXC would acquire 100% of the capital stock of Golden Sand for 50,000,000 new shares of HEXC. HEXC would cause the cancellation of 380,000 shares of its outstanding shares of common stock in exchange for three payments by Golden Sand and/or the Golden Sand Shareholders of $500,000 in the aggregate and in consideration of issuing the 50,000,000 new shares of HEXC. The parties intend that the transaction qualify and meet the Internal Revenue Code requirements for a tax-free reorganization, in which there is no gain or loss recognized for the parties, with reference to Internal Revenue Code (IRC) sections 354 and 368.

Transaction Descriptive Summary. HEXC desires to acquire Golden Sand and the Golden Sand Shareholders wish to be acquired by a public company. HEXC would acquire 100% of the capital stock of Golden Sand for 50,000,000 new shares of HEXC. Scheuerman would tender fox xxxxxxxxtion by HEXC would cause the cancellation a total of 380,000 shares of its outstanding 7,600,000 shares of common stock in exchange for three payments by Golden Sand and/or the Golden Sand Shareholders of $500,000 in the aggregate and in consideration of issuing the 50,000,000 new shares of HEXCaggregate. The parties intend that the transaction qualify and meet the Internal Revenue Code requirements for a tax-tax free reorganization, in which there is no gain or loss recognized for the parties, with reference to Internal Revenue Code ("IRC") sections Sections 354 and 368.

Transaction Descriptive Summary. HEXC desires to acquire Golden Sand and the Golden Sand Shareholders wish to be acquired by a public company. HEXC would acquire 100% of the capital stock of Golden Sand for 50,000,000 new shares of HEXC. Xxxxxxxxxx would tender for cancellation by HEXC would cause the cancellation a total of 380,000 shares of its outstanding 7,600,000 shares of common stock in exchange for three payments by Golden Sand and/or the Golden Sand Shareholders of $500,000 in the aggregate and in consideration of issuing the 50,000,000 new shares of HEXCaggregate. The parties intend that the transaction qualify and meet the Internal Revenue Code requirements for a tax-tax free reorganization, in which there is no gain or loss recognized for the parties, with reference to Internal Revenue Code ("IRC") sections Sections 354 and 368.