Exhibit 10 (c)
LETTER OF INTENT
October 22, 2003
The parties, listed below, hereby execute this Letter of Intent:
Karting International Inc. Super Sport International Ltd.
0000 X. Xxxxxxx Xxxx., Xxx. 323 PO Box 000
Xxx Xxxxx, XX Xxxxxxxx, XX0 0XX, XX
The parties have agreed to pursue an arrangement whereby Karting
International Inc. ("KTGI") will purchase 100% of Super Sport
International Ltd. ("SSI").
The parties agree to negotiate in good faith always keeping in mind that the
benefits to the shareholders of both companies are foremost.
Initial agreement is hereby confirmed that both parties wish to accomplish the
transaction in the quickest possible manner and will use their best efforts to
accomplish the due diligence in a timely manner.
Both parties understand that an audit is required of both companies' financial
matters and agree to cause the audits to be done as soon as possible.
Either party has the right to back out of negotiations at any time without cause
until the time that the desired transaction is closed.
We agree on this date to the terms stated above.
For Karting International Inc. For Super Sport
International Ltd.
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Xxxx Xxxxxxxxx, President Xxxxx Xxxxxxxxxx,
Managing Dir.
