EXHIBIT 99.1
PURCHASE AGREEMENT
BY AND BETWEEN
ASI CAPITAL CORPORATION
AND
DAVRIC CORPORATION
THIS AGREEMENT dated September 21, 2007 between ASI CAPITAL CORPORATION (SELLER)
and DAVRIC CORPORATION (BUYER) serves as the mutually agreed upon purchase of a
Promissory Note in the original amount of One Hundred Twenty-Six Thousand and
no/100 Dollars ($126,000.00) with a current principal balance of One Hundred
Fifteen Thousand Five Hundred and no/100 Dollars ($115,500.00). This note is
secured by a security interest pursuant to Article 9 of the Uniform Commercial
Code in the following property (Collateral), which shall include all
after-acquired property of a like nature and description and proceeds and
products thereof:
All assets now owned or hereafter acquired. This includes, but is not
limited to: Accounts, contract rights, inventory, furniture, fixtures,
and equipment as well as any trademarks or other intangibles. This
collateral is including all property now owned or hereafter acquired
including any substitutions or replacements.
All terms and conditions of this note shall remain unchanged unless mutually
agreed upon by respective parties.
Effective date of this Agreement shall be September 21, 2007.
SELLER: BUYER:
ASI CAPITAL CORPORATION DAVRIC CORPORATION
/s/ XXXX X. XXXXXXXX /s/ XXXXX X. XXXXX
Xxxx X Xxxxxxxx, President Xxxxx X Xxxxx, President
PURCHASE AGREEMENT
BY AND BETWEEN
ASI CAPITAL CORPORATION
AND
DAVRIC CORPORATION
THIS AGREEMENT dated September 21, 2007 between ASI CAPITAL CORPORATION (SELLER)
and DAVRIC CORPORATION (BUYER) serves as the mutually agreed upon purchase of a
Promissory Note in the original amount of Thirty Four Thousand and no/100
Dollars ($34,000.00) with a current principal balance of Thirty Two Thousand
Five Hundred Eighty Three and no/100 Dollars ($32,583.00). This note is secured
by a security interest pursuant to Article 9 of the Uniform Commercial Code in
the following property (Collateral), which shall include all after-acquired
property of a like nature and description and proceeds and products thereof:
All assets now owned or hereafter acquired. This includes, but is not
limited to: Accounts, contract rights, inventory, furniture, fixtures,
and equipment as well as any trademarks or other intangibles. This
collateral is including all property now owned or hereafter acquired
including any substitutions or replacements.
All terms and conditions of this note shall remain unchanged unless mutually
agreed upon by respective parties.
Effective date of this Agreement shall be September 21, 2007.
SELLER: BUYER:
ASI CAPITAL CORPORATION DAVRIC CORPORATION
/s/ XXXX X. XXXXXXXX /s/ XXXXX X. XXXXX
Xxxx X Xxxxxxxx, President Xxxxx X Xxxxx, President
NOTE ENDORSEMENT
This endorsement is to be attached to and made a part of that certain Note
dated, May 25, 2007 in the sum of One Hundred Twenty Six Thousand Dollars
($126,000.00) executed by Fusion Homes, LLC and in favor of ASI Capital
Corporation.
For value received, the undersigned does hereby transfer and assign to DAVRIC
CORPORATION, the within note, together with all rights accrued or to accrue
under the Security Agreement securing same so far as the same relate to this
note and without recourse to the undersigned.
ASSIGNOR:
ASI CAPITAL CORPORATION
By: /s/ XXXX X. XXXXXXXX
Print Name: XXXX X. XXXXXXXX
Title: President
Date: 9/21/07
NOTE ENDORSEMENT
This endorsement is to be attached to and made a part of that certain Note
dated, July 3, 2007 in the sum of Thirty Four Thousand Dollars ($34,000.00)
executed by Fusion Homes, LLC and in favor of ASI Capital Corporation.
For value received, the undersigned does hereby transfer and assign to DAVRIC
CORPORATION, the within note, together with all rights accrued or to accrue
under the Security Agreement securing same so far as the same relate to this
note and without recourse to the undersigned.
ASSIGNOR:
ASI CAPITAL CORPORATION
By: /s/ XXXX X. XXXXXXXX
Print Name: XXXX X. XXXXXXXX
Title: President
Date: 9/21/07
