AGREEMENT FOR THE EXCHANGE OF STOCK
Exhibit 2.1
THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "1933 ACT"), NOR REGISTERED UNDER ANY STATE SECURITIES LAW, AND ARE "RESTRICTED SECURITIES" AS THAT TERM IS DEFINED IN RULE 144 UNDER THE 1933 ACT. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF THE ISSUER.
THIS AGREEMENT is made and entered into this 1st day of April , 2011 by and among Greenworld Development, Inc., a Nevada corporation (the “ISSUER”), and Getting Green Solutions LLC, a Georgia Limited Liability Company(“GGS”), and its members, , all of whom are listed as signatories below.
In consideration of the mutual promises, covenants, representations and warranties contained herein, and other good and valuable consideration, and with the intent that, upon consummation of the transactions contemplated hereby, on the terms set forth herein,GGS] shall become a 50% subsidiary of Issuer each of the parties hereto agrees as follows:
(A) Organization. ISSUER is a corporation duly organized, validly existing, and in good standing under the laws of Nevada, and has all necessary corporate powers to own properties and carry on a business, and is duly qualified to do business and is in good standing in Nevada. All actions taken by the incorporators, directors, officers and shareholders of ISSUER have been valid and in accordance with the laws of the State of Nevada.
(B) Capital. The authorized capital stock of ISSUER consists of 300,000,000 shares of common stock, $0.00005 par value, and 50,000,000 shares of preferred stock, $0.0001 par value. Prior to the issuance of the shares to the GGS members , there are 46,617,120 shares of common stock issued and outstanding and no shares of preferred stock issued and outstanding. Upon the closing of this transaction and with the issuance of the shares contemplated herein, there will be a total of 57,617,120 shares of commons stock issued and outstanding. All such outstanding shares are, as of the date hereof, and at Closing fully paid and non- assessable, free of all liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement. Other than as proved herein, there are not now, and at Closing, there will not be, any outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating ISSUER to issue or to transfer from treasury any additional shares of its capital stock. None of the outstanding shares of ISSUER are subject to any stock restriction agreements. All of the shareholders of ISSUER have valid title to such shares and acquired their shares in a lawful transaction and in accordance with the laws of the State of Nevada.
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(i) sell, pledge, or assign any assets
(ii) amend its Articles of Incorporation or Bylaws,
(iii) declare dividends, redeem or sell stock or other securities,
(iv) incur any liabilities,
(v) acquire or dispose of any assets, enter into any contract, guarantee obligations of any third party, or
(vi) enter into any other transaction.
Articles of Incorporation;
Bylaws;
Minutes of Shareholders Meetings; and
Minutes of Directors Meetings.
Consents signed in lieu or meetings of Shareholders
Consents signed in lieu of meetings of Directors
Financial statements for the period ending December 31, 2010.
(K) Validity of Documents. All minutes, consents or other documents pertaining to ISSUER to be delivered at or prior to closing shall be valid and in accordance with the laws of the State of Nevada.
(M) The Issuer agrees to help raise money for GGS and fund the operation of GGS. This includes but is not limited to funding the operations of GGS’s OH plant, possible new plants, new markets, R&D and along with WTE at Waco TX, The terms of the funding are to be further agreed upon.
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(i) Board of Directors Minutes authorizing the issuance of shares of the ISSUER to be issued pursuant to this Agreement in accordance with Schedule A attached hereto and incorporated herein by reference. :
(ii) A Board of Directors resolution appointing the following as officers directors of ISSUER:
Xxx X. Xxxxx
Xxxxx Xxxxxxxx
(iii) Certificate of Good Standing from the State of Nevada.
(iv) All of the business and corporate records of ISSUER, including but not limited to correspondence files, bank statements, income tax returns, checkbooks, savings account books, minutes of shareholder and directors meetings, financial statements, shareholder listings, stock transfer records, agreements and contracts.
(vi) A direction by the Company to issue certificates for the outstanding shares satisfactory to the GGS and GGS members.
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(i) Delivery to ISSUER, or to its Transfer Agent, of certificates representing 50% of the issued and outstanding membership interests of GGS.
(ii) A resolution of the members of GGS appointing the following as additional directors of GSS:
(A) Expenses. Each party shall bear all of the legal, accounting and other costs and expenses incurred by it in connection with the negotiation, preparation, execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.
(B) Further Assurances. From and after the date of this Agreement, each of the parties shall cooperate with one another, shall do and perform such actions and things, and shall execute and deliver such documents and instruments, as may be reasonable and necessary to effectuate the purposes and intents of this Agreement.
(C) Governing Law. This Agreement shall be governed by, and shall be construed and interpreted in accordance with, the laws of the State of Nevada without regard to conflict or choice of law principles. The prevailing party in any such action and/or proceeding shall be entitled to recover its reasonable attorney’s fees and costs from the other party.
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IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Agreement on the date first written above.
GREENWORLD INTERNATIONAL, INC. | GETTING GREEN SOLUTIONS, LLC. | ||||
By: |
/s/Xxx Xxxxx
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By: |
/s/ Xxxx Xxxxxx
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Xxx Xxxxx, President
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Xxxx Xxxxxx,, Managing Member,
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SIGNATURE PAGE FOR GETTING GREEN SOLUTIONS LLC MEMEBERS AND SHARES TO BE ISSUED AND EXCHANGED
NAME
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NUMBER OF SHARES TO BE ISSED
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MEMBERSHIP INTERESTS TO BE CANCELLED
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/s/ Xxxxxxx Xxxxxxx
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7,012,500
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5,100,000
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Xxxxxxx Xxxxxxx
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/s/Xxxx Xxxxxx
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3,987,500
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2,900,000
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Xxxx Xxxxxx
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