TERMINATION
OF
ACQUISITION AGREEMENT
THIS AMENDMENT TO ACQUISITION AGREEMENT is dated this 14th day of August,2002.
BETWEEN:
LOOP COMMUNICATIONS INC., a company incorporated pursuant to the laws
of Canada and having an office located at 0000 Xx. 0 Xxxx, Xxxxx #000,
Xxxxxxxx, Xxxxxxx Xxxxxxxx, X0X 0X0;
("Loop")
AND:
XXXXX XXXXX, of 0000 Xx. 0 Xxxx, Xxxxx #000, Xxxxxxxx, Xxxxxxx
Xxxxxxxx, X0X 0X0;
("Cheng")
AND:
XXXXXXXXX.XXX, INC., a company incorporated pursuant to the laws of
the State of Nevada and having an office located at 700 - 000 Xxxx
Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx, X0X 0X0;
("Surforama")
WHEREAS:
A. The above named parties ("Parties") entered into an Acquisition Agreement
(the "Agreement") dated January 22, 2002 and an amendment to that agreement
dated July 17, 2002 (the "Amended Agreement").
B. It does not appear that Loop will be able to provide Surforama audited
consolidated financial statements as required under paragraph 1(e).
C. As a result, the Parties wish to terminate the Agreement in all respects.
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and
mutual agreements and covenants herein contained, the parties hereby covenant
and agree as follows:
Termination
In consideration for the complete mutual release of the parties by each other,
the parties agree to terminate the Agreement and the Amended Agreement in all
respects and to return to each other any consideration delivered prior to this
date.
2
IN WITNESS WHEREOF this Agreement has been executed as of the day and year first
above written.
LOOP COMMUNICATIONS INC. XXXXXXXXX.XXX, INC.
PER: PER:
/s/ Xxxxx Xxxxx /s/ Xxxxxx Xxx
_____________________________ _______________________________
Authorized Signatory Authorized Signatory
Xxxxx Xxxxx Xxxxxx Xxx, CEO
