EXHIBIT 3.6
Assignment and Assumption Agreement
ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Agreement") is entered into this
25th day of February, 2003, by and between NEUROCHEMICAL RESEARCH
CORPORATION, a Tennessee corporation ("Assignor") and 12 TO 20 PLUS,
INCORPORATED, a Nevada corporation ("Assignee").
1. Assignor hereby assigns, transfers and conveys to Assignee, without
warranty, express or implied, all of Assignor's transferable right title and
interest in and to the assets more particularly described on Exhibit A attached
hereto and incorporated herein (the "Assets").
2. Assignee hereby accepts the forgoing assignment and fully assumes the
obligations, liabilities and duties of Assignor with respect to the Assets (the
"Liabilities"), and shall faithfully perform and comply with all of the
covenants, terms, provisions and agreements to be complied with, by Assignor.
Assignee shall indemnify, defend and hold Assignor harmless for, from and
against any and all losses, damages, liabilities, actions, proceedings, demands,
claims, costs and expenses (including reasonable attorneys' fees) suffered or
incurred by Assignor by reason of the failure of Assignee to perform and comply
with the obligations, liabilities, duties, covenants, conditions and agreements
with respect to the Assets and Liabilities.
3. This Assignment shall inure to the benefit of and shall be binding upon
the parties hereto and their respective successors and assigns.
4. This Agreement shall be governed by and construed in accordance with the
laws of the State of Nevada.
IN WITNESS WHEREOF, this Agreement is executed as of the date first set forth
above.
ASSIGNOR:
NEUROCHEMICAL RESEARCH CORPORATION,
a Tennessee corporation
By: /s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx
President
1
ASSIGNEE:
12 TO TWENTY PLUS, INC.,
a Nevada corporation
By: /s/ Xxxxx Xxxxxx
----------------------------------
Xxxxx Xxxxxx
President
EXHIBIT A
Description of Assets
Inventory.
Product 60 capsule 120 caps 96 caps 180 caps Avg Cost
Description $5.61@
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ChemoKare(TM) 295 bottles 134 2406.69
VisionKare(TM) 299 110 2294.49
QuitSystem(R)SARM 168 160 1840.08
Anaplex(TM)sales samples 330 237 3180.87
Anaplex unlabeled 455 2552.55
Anaplex cases of 12* 129 cases /cost per case 67.32 8684.28
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Trademarks and Tradenames.
QuitSystem(R) registered trademark ChemoKare trade name
VisionKare trade name Anaplex ** trade name
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Proprietary Formulae
QuitSystem: Smokers Recovery Formula Stimulant Abuse Recovery & Alcohol Recovery
AnaplexD Antidepressant drug alternative AnaplexSD short term anxiety formula
VisionKare Advanced supplement for macular degeneration
ChemoKare Natural cancer fighting compound
Male Virility Natural alternative to Viagra
Trim-A-Way(R) Weight Control & Body Shaper supplements
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Revenues - Anaplex only 2002 81,507.62
2003 598.49
*Selling price at wholesale: $36,068.40
**Anaplex as advertised in national consumer magazines 1
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1 Donation of free goods: QuitSystem Stimulant Abuse Recovery to Xxxxxx
Ashbury Free Clinics San Francisco and Oakland, November, 2002 Value at
wholesale=$10,585.20
2
