AMENDED DEFINITIVE ACQUISITION AGREEMENT
AMENDED DEFINITIVE ACQUISITION AGREEMENT
This Acquisition Agreement is between the following parties:
Net Savings Link, Inc. (NSAV)
Xxxxx X. Xxxxxx, President
0000 Xxxxx 000
X.X. 000
Xxxxxxxxxxxx, XX 00000
and
Xxxxx Xxxxx
000 Xxxxxxxxx Xxxx
Xxxxx 00X
Xxxxxxxx, XX Xxxxx 000000
This Amended Definitive Acquisition Agreement replaces the Definitive Acquisition Agreement signed by the parties on May 8, 2017, which is now null and void.
Transaction Details:
NSAV desires to purchase 70% of Shanghai Hua Si Tai Medical Consultation Company Limited (SHST), whose main asset is Shanghai Vital Strategic Research Institute (SVSR). Xxxxx Xxxxx desires to sell 70% of SHST to NSAV. The proposed transaction is as follows:
The parties agree that NSAV will purchase 70% of SHST for the sum of $ 400,000. U.S. Dollars, which is payable in the form of a non-convertible promissory note, bearing 8% interest per annum. The duration of the note is 12 months, at which time the note is due in full, along with any accrued interest.
In addition to the promissory note, the parties agree that NSAV will provide SHST with working capital in the sum of $ 400,000. U.S. Dollars during the 12 months following the signing of this agreement.
Xxxxx Xxxxx will supply to NSAV current audited financial statements for SHST according to U.S. GAAP no later than December 1, 2017. Xxxxx Xxxxx confirms that the December 31, 2016 SHST financial statements previously provided to NSAV are true and accurate.
Xxxxx Xxxxx will assist NSAV in conducting and completing full due diligence on SHST immediately after the issuance of said promissory note.
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NSAV undertakes that it will begin updating and upgrading the SVSR English and Chinese websites within 1 week after the signing of this agreement. Xxxxx Xxxxx agrees to provide full assistance to NSAV in this endeavor.
NSAV is a public company, which trades on the OTC Markets in New York, under the stock symbol NSAV. NSAV is incorporated in the U.S. state of Colorado and is registered to do business in the U.S. state of Pennsylvania.
SHST is a privately held company, incorporated in Shanghai, PR China.
The closing of this agreement is immediate upon the signing by both parties and is conditional on the issuance of the signed said promissory note by both parties.
The above represents this Amended Definitive Acquisition Agreement in its entirety and is subject to the laws of the State of Pennsylvania and is made effective on the date signed below.
Date: October 9, 2017
| NET SAVINGS LINK, INC. | |
| /s/ Xxxxx Xxxxxx | |
| Xxxxx Xxxxxx, Chief Executive Officer |
| Shanghai Hua Si Tai Medical Consultation Company | |
| /s/ Xxxxx Xxxxx | |
| Xxxxx Xxxxx, Owner | |
