Share Purchase Agreement - Xxxxx Xxxx Trust
Share Purchase Agreement - Xxxxxx Xxxxxx Trust
Nova Pharmaceutical, Inc.
Share Purchase Agreement
Over the period February 14, 2000 and May 31, 2000, the
Xxxxx Xxxx Trust (Tone Xxxxxx, Trustee) agrees to purchase
up to $500,000 in Nova Pharmaceutical, Inc common stock.
The Stock shall be SEC rule 144 restricted stock. The
commitment to purchase this stock is subject to an active
market being made in Nova's common stock on the OTC
Bulletin Board during the aforementioned period. An active
market is defined as average daily trading volume of 10-20
thousand shares per day.
The purpose of this commitment is to provide Nova
Pharmaceutical, Inc additional capital to survive it's
current cash flow problems, and to provide funds for Nova to
take advantage of it's business opportunities in the
expansion of NxTrim and the Gold's Gym Nutrition line of
health supplements. In providing Nova with these funds, The
trust is protecting the value of stock currently held in
Nova Pharmaceutical, Inc. by providing both survival capital
and growth capital in a time of critical need.
Nova agrees to register the stock purchased by the trust in
conjunction with the debt restructuring program, which is
currently underway. In the debt restructuring, Nova has
committed to register shares as soon as legally and
administratively possible upon successful completion of the
debt restructuring.
____________________________ Date: __________________
Xxxxx Xxxx Trust
Tone Xxxxxx, Trustee
37
Nova Pharmaceutical, Inc.
Share Purchase Agreement
Over the period February 14, 2000 and May 31, 2000, the
Xxxxxx Xxxxxx Trust (Tone Xxxxxx, Trustee) agrees to purchase
up to $1,000,000 in Nova Pharmaceutical, Inc common stock.
The Stock shall be SEC rule 144 restricted stock. The
commitment to purchase this stock is subject to an active
market being made in Nova's common stock on the OTC
Bulletin Board during the aforementioned period. An active
market is defined as average daily trading volume of 10-20
thousand shares per day.
The purpose of this commitment is to provide Nova
Pharmaceutical, Inc additional capital to survive it's
current cash flow problems, and to provide funds for Nova to
take advantage of it's business opportunities in the
expansion of NxTrim and the Gold's Gym Nutrition line of
health supplements. In providing Nova with these funds, The
trust is protecting the value of stock currently held in
Nova Pharmaceutical, Inc. by providing both survival capital
and growth capital in a time of critical need.
Nova agrees to register the stock purchased by the trust in
conjunction with the debt restructuring program, which is
currently underway. In the debt restructuring, Nova has
committed to register shares as soon as legally and
administratively possible upon successful completion of the
debt restructuring.
____________________________ Date: __________________
Xxxxxx Xxxxxx Trust
Tone Xxxxxx, Trustee
