EDWIN A. McGUSTY
XXXXX X. XxXXXXX
0000 Xxxxx Xxxxxx #0000
Xxxxx, XX 00000
(000) 000-0000
June 4, 2004
Xxxxxxx Xxx
0000 Xxxxxxxx Xxxxxx #000
Xxxxxxxxxxxx, XX 00000
Re: Capital Stock Purchase Agreement
Xx. Xxx,
The Capital Stock Purchase Agreement we entered into, dated June 7, 2004 references the sale and purchase of 8,651,447 shares of common stock of Donar Enterprises, Inc. (“Donar”) currently representing 93% of Donar’s issued and outstanding common stock.
I understand you will only be able to deliver 8,333,647 common shares (or 90% of the total issued and outstanding common stock) of Donar at the Closing on June 11, 2004. I also understand the balance of 317,800 common shares are currently being transferred into certificate form and will be delivered to my attorney, Xxxx Xxxxxxxx at Xxxx Xxxx Xxxxxxx Xxxxxx & Xxxx, PA in approximately three to four weeks, immediately upon the certificate being received by you.
I agree to close on the transaction on June 11, 2004 with the purchase of the 8,333,647 common shares for total consideration of $500,000, with the understanding that the balance of 317,800 common shares will be delivered as soon as possible after the Closing for no additional consideration.
If you are in agreement with this please sign where indicated below and fax to me at (000) 000-0000.
Sincerely,
Xxxxx X. XxXxxxx
Agree and Accepted:
Dated: | ||||||
Xxxxxxx Xxx |
cc: | Xxxx Xxxxxxxx, Xxxx Xxxx |
Xxxxx Xxxxxxx, Apogee