STOCK PURCHASE AGREEMENT AND
SHARE EXCHANGE
by and among
EQUITY VENTURES GROUP,
INC.
a Florida Corporation
and
GHG TRADING PLATFORMS,
INC.
a Nevada Corporation
and
The Shareholders of GHG Trading Platforms,
Inc.
effective as of March 25, 2009
STOCK PURCHASE AGREEMENT AND
SHARE EXCHANGE
THIS STOCK PURCHASE AGREEMENT AND
SHARE EXCHANGE, made and
entered into this 25 th day of March, 2009 (the “ Agreement
”), by and among Equity Ventures Group, Inc. (“
EVG ”), a Florida corporation with its principle
places of business at 1314 E. Las Olas Blvd., Ste 1030, Fort
Lauderdale, FL 33301; GHG Trading Platforms, Inc., a Nevada
corporation (“ GHG ”) with its principal
executive offices at 930 Sahara Ave., #679, Las Vegas, NV 89917,
and the shareholders of GHG named on the Annex 1 of this Agreement
(individually, a “ GHG Stockholder ”, and
collectively, the “ GHG Stockholders
”).
Premises
WHEREAS, EVG is a reporting company
under Section 12(g) of the Securities and Exchange Act of 1934,
organized under the laws of the State of Florida with no
significant operations, while GHG is a private, non-reporting
company incorporated under the laws of Nevada;
WHEREAS, EVG desires to acquire from the GHG
Shareholders, and the GHG Shareholders desire to sell to EVG, 100%
of the outstanding shares of GHG in exchange for the issuance by
EVG of an aggregate number of shares equal to 90% of the
post-transaction shares of EVG common stock (the “ Common
Stock ”) to the GHG Shareholders on the terms and
conditions set forth herein (the “ Share Exchange
”).
WHEREAS, after giving effect to the Share
Exchange, GHG shall become a wholly owned subsidiary of
EVG;
WHEREAS, the boards of directors of
GHG and EVG have determined, subject to the terms and conditions
set forth in this Agreement, that the transaction contemplated
hereby is desirable and in the best interests of their
stockholders, respectively. This Agreement is being
entered into for the purpose of setting forth the terms and
conditions of the proposed acquisition.
Agreement
NOW, THEREFORE, on the stated
premises and for and in consideration of the mutual covenants and
agreements hereinafter set forth and the mutual benefits to the
parties to be derived here from, it is hereby agreed as
follows:
ARTICLE I
REPRESENTATIONS, COVENANTS AND
WARRANTIES OF
GHG TRADING PLATFORMS,
INC.
As an inducement to and to obtain
the reliance of EVG, GHG represents and warrants as of the date
hereof and reaffirms on the Closing Date as follows:
Section 1.1
Organization. GHG is a corporation duly organized,
validly existing, and in good standing under the State of Nevada
and has the corporate power and is duly authorized, qualified,
franchised and licensed under all applicable laws, regulations,
ordinances and orders of public authorities to own all of its
properties and assets and to carry on its business in all material
respects as it is now being conducted, including qualification to
do business as a foreign corporation in the jurisdiction in which
the character and location of the assets owned by it or the nature
of the business transacted by it requires
qualification. Included in the Schedules attached hereto
(hereinafter defined) are complete and correct copies of the
articles of incorporation, bylaws and amendments thereto as in
effect on the date hereof. The execution and delivery of
this Agreement does not and the consummation of the transactions
contemplated by this Agreement in accordance with the terms hereof
will not violate any provision of GHG's articles of incorporation
or bylaws. GHG has full power, authority and legal right
and has taken all action required by law, its articles of
incorporation, its bylaws or otherwise to authorize the execution
and delivery of this Agreement.
Section 1.2
Capitalization . The authorized capitalization
of GHG consists of 50,000,000 Common Shares, $.001 par value per
share and 0 Preferred Shares. As of the date hereof, GHG
shall have 8,099,750 shares of common stock outstanding.
All issued and outstanding shares
are legally issued, fully paid and nonassessable and are not issued
in violation of the preemptive or other rights of any
person. GHG has no securities, warrants or options
authorized or issued.
Section 1.3
Subsidiaries. GHG has no
subsidiaries.
Section
1.4 Financial
Statements.
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On the Closing Date, GHG shall
include in the Schedules the audited balance sheets of GHG as of
December 31, 2008 and 2007 and the related audited statements of
operations, stockholders’ equity and cash flows for the
fiscal years ended December 31, 2008 and 2007 together with the
notes to such statements and the opinion of an independent
certified public accountant.
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All such financial statements shall
have been prepared in accordance with generally accepted accounting
principles (“GAAP”) consistently applied throughout the
periods involved. The GHG balance sheets are true and accurate and
present fairly as of their respective dates the financial condition
of GHG. As of the date of such balance sheets, except as
and to the extent reflected or reserved against therein, GHG had no
liabilities or obligations (absolute or contingent) which should be
reflected in the balance sheets or the notes thereto prepared in
accordance with GAAP, and all assets reflected therein are properly
reported and present fairly the value of the assets of GHG, in
accordance with GAAP. The statements of operations,
stockholders’ equity and cash flows reflect fairly the
information required to be set forth therein by generally accepted
accounting principles.
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Section
1.5 Tax
Matters: Books and Records.
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(a) The books and
records, financial and others, of GHG are in all material respects
complete and correct and have been maintained in accordance with
good business accounting practices; and
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(b) GHG has no
liabilities with respect to the payment of any country, federal,
state, county, or local taxes (including any deficiencies, interest
or penalties).
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(c) GHG shall
remain responsible for all debts incurred by GHG prior to the date
of closing.
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Section 1.6
Litigation and Proceedings. There are no
actions, suits, proceedings or investigations pending or threatened
by or against or affecting GHG or its properties, at law or in
equity, before any court or other governmental agency or
instrumentality, domestic or foreign or before any arbitrator of
any kind that would have a material adverse affect on the business,
operations, financial condition or income of GHG. GHG is
not in default with respect to any judgment, order, writ,
injunction, decree, award, rule or regulation of any court,
arbitrator or governmental agency or instrumentality or of any
circumstances which, after reasonable investigation, would result
in the discovery of such a default.
Section 1.7
Material Contract Defaults. GHG is
not in default in any material respect under the terms of any
outstanding contract, agreement, lease or other commitment which is
material to the business, operations, properties, assets or
condition of GHG, and there is no event of default in any material
respect under any such contract, agreement, lease or other
commitment in respect of which GHG has not taken adequate steps to
prevent such a default from occurring.
Section 1.8 Information
. The information concerning GHG as set
forth in this Agreement and in the attached Schedules is complete
and accurate in all material respects and does not contain any
untrue statement of a material fact or omit to state a material
fact required to make the statements made in light of the
circumstances under which they were made, not
misleading.
Section 1.9
Title and
Related Matters. GHG has good and marketable title
to and is the sole and exclusive owner of all of its properties,
inventory, interest in properties and assets, real and personal
(collectively, the “Assets”) free and clear of all
liens, pledges, charges or encumbrances. GHG owns free
and clear of any liens, claims, encumbrances, royalty interests or
other restrictions or limitations of any nature whatsoever and all
procedures, techniques, marketing plans, business plans, methods of
management or other information utilized in connection with GHG
business. No third party has any right to, and GHG
has not received any notice of infringement of or conflict with
asserted rights of other with respect to any product, technology,
data, trade secrets, know-how, proprietary techniques, trademarks,
service marks, trade names or copyrights which, singly on in the
aggregate, if the subject of an unfavorable decision ruling or
finding, would have a materially adverse affect on the business,
operations, financial conditions or income of GHG or any material
portion of its properties, assets or rights.
Section 1.10 Compliance With
Laws and Regulations. To the best of
GHG’s knowledge and belief, GHG has complied with all
applicable statutes and regulations of any federal, state or other
governmental entity or agency thereof, except to the extent that
noncompliance would not materially and adversely affect the
business, operations, properties, assets or condition of GHG or
would not result in GHG incurring material liability.
Section 1.11
Insurance. All of the
insurable properties of GHG are insured for GHG‘s benefit
under valid and enforceable policy or policies containing
substantially equivalent coverage and will be outstanding and in
full force at the Closing Date.
Section 1.12
Approval of Agreement. On the
Closing Date, the board of directors and majority shareholders of
GHG shall have authorized the execution and delivery of the
Agreement by and have approved the transactions contemplated
hereby.
Section 1.13
Material Transactions or Affiliations
. Except as set forth in Exhibit B, as
attached hereto. There are no material contracts or agreements of
arrangement between GHG and any person, who was at the time of such
contract, agreement or arrangement an officer, director or person
owning of record, or known to beneficially own ten percent (10%) or
more of the issued and outstanding Common Shares of GHG and which
is to be performed in whole or in part after the date
hereof. GHG has no commitment, whether written or oral,
to lend any funds to, borrow any money from or enter into material
transactions with any such affiliated person.
Section 1.14
No Conflict With Other Instruments . The
execution of this Agreement and the consummation of the
transactions contemplated by this Agreement will not result in the
breach of any term or provision of, or constitute an event of
default under, any material indenture, mortgage, deed of trust or
other material contract, agreement or instrument to which GHG is a
party or to which any of its properties or operations are
subject.
Section 1.15
Governmental Authorizations. GHG has all
licenses, franchises, permits or other governmental authorizations
legally required to enable it to conduct its business in all
material respects as conducted on the date
hereof. Except for compliance with federal and state
securities and corporation laws, as hereinafter provided, no
authorization, approval, consent or order of, or registration,
declaration or filing with, any court or other governmental body is
required in connection with the execution and delivery by GHG of
this Agreement and the consummation of the transactions
contemplated hereby.
ARTICLE II
REPRESENTATIONS, COVENANTS AND
WARRANTIES OF
EQUITY VENTURES GROUP,
INC.
As an inducement to, and to obtain
the reliance of GHG, EVG represents and warrants as of the date
hereof and reaffirms on the Closing Date as follows:
Section 2.1
Organization. EVG is a corporation duly
organized, validly existing and in good standing under the laws of
Florida and has the corporate power and is duly authorized,
qualified, franchised and licensed under all applicable laws,
regulations, ordinances and orders of public authorities to own all
of its properties and assets and to carry on its business in all
material respects as it is now being conducted, including
qualification to do business as a foreign entity in the country or
states in which the character and location of the assets owned by
it or the nature of the business transacted by it requires
qualification. Included in the Attached Schedules (as
hereinafter defined) are complete and correct copies of the
articles of incorporation, bylaws and amendments thereto as in
effect on the date hereof. The execution and delivery of
this Agreement does not and the consummation of the transactions
contemplated by this Agreement in accordance with the terms hereof
will not, violate any provision of EVG's certificate of
incorporation or bylaws. EVG has full power, authority
and legal right and has taken all action required by law, its
articles of incorporation, bylaws or otherwise to authorize the
execution and delivery of this Agreement.
Section 2.2
Capitalization. The authorized
Capitalization of EVG consists of 100,000,000 Common Shares, $0.001
par value per share and 10,000,000 Preferred Shares, par value
$0.001. As of the date hereof there are 974,000 common
shares outstanding. As of the Closing Date there will be
809,000 shares outstanding.
All issued and outstanding common
shares have been legally issued, fully paid, are nonassessable and
not issued in violation of the preemptive rights of any other
person. EVG has no other securities, warrants or options
authorized or issued.
Section 2.3
Subsidiaries . EVG has no
subsidiaries.
Section 2.4
Financial Statements .
EVG has delivered to GHG and the GHG
Shareholders its audited financial statements for the year ended
December 31, 2008 (the “EVG Financial
Statements”). The EVG Financial Statements have
been prepared in accordance with generally accepted accounting
principles applied on a consistent basis throughout the periods
indicated. The EVG Financial Statements fairly present
in all material respects the financial condition and operating
results of EVG, as of the dates, and for the periods, indicated
therein. EVG does not have any material liabilities or
obligations, contingent or otherwise, other than
(a) liabilities incurred in the ordinary course of business
subsequent to December 31, 2008, and (b) obligations under
contracts and commitments incurred in the ordinary course of
business and not required under generally accepted accounting
principles to be reflected in the EVG Financial Statements, which,
in both cases, individually and in the aggregate, would not be
reasonably expected to result in a Material Adverse
Effect.
Section
2.5
Tax Matters; Books & Records
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(a) The books and
records, financial and others, of EVG are in all material respects
complete and correct and have been maintained in accordance with
good business accounting practices; and
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(b) EVG has no
liabilities with respect to the payment of any country, federal,
state, county, local or other taxes (including any deficiencies,
interest or penalties).
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(c) EVG shall remain
responsible for all debts incurred prior to the closing.
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Section 2.6
Information . The information concerning
EVG as set forth in this Agreement and in the attached Schedules is
complete and accurate in all material respects and does not contain
any untrue statement of a material fact or omit to state a material
fact required to make the statements made, in light of the
circumstances under which they were made, not
misleading.
Section 2.7
Title and Related Matters. EVG has good
and marketable title to and is the sole and exclusive owner of all
of its properties, inventory, interests in properties and assets,
real and personal (collectively, the "Assets") free and clear of
all liens, pledges, charges or encumbrances. Except as
set forth in the Schedules attached hereto, EVG owns free and clear
of any liens, claims, encumbrances, royalty interests or other
restrictions or limitations of any nature whatsoever and all
procedures, techniques, marketing plans, business plans, methods of
management or other information utilized in connection with EVG's
business. Except as set forth in the attached Schedules,
no third party has any right to, and EVG has not received any
notice of infringement of or conflict with asserted rights of
others with respect to any product, technology, data, trade
secrets, know-how, proprietary techniques, trademarks, service
marks, trade names or copyrights which, singly or in the aggregate,
if the subject of an unfavorable decision, ruling or finding, would
have a materially adverse affect on the business, operations,
financial conditions or income of EVG or any material portion of
its properties, assets or rights.
Section 2.8
Litigation and Proceedings . There are no
actions, suits or proceedings pending or threatened by or against
or affecting EVG, at law or in equity, before any court or other
governmental agency or instrumentality, domestic or foreign or
before any arbitrator of any kind that would have a material
adverse effect on the business, operations, financial condition,
income or business prospects of EVG. EVG does not have
any knowledge of any default on its part with respect to any
judgment, order, writ, injunction, decree, award, rule or
regulation of any court, arbitrator or governmental agency or
instrumentality.
Section 2.9
Contracts. On the Closing Date:
(a) There
are no material contracts, agreements, franchises, license
agreements, or other commitments to which EVG is a party or by
which it or any of its properties are bound;
(b) EVG
is not a party to any contract, agreement, commitment or instrument
or subject to any charter or other corporate restriction or any
judgment, order, writ, injunction, decree or award which materially
and adversely affects, or in the future may (as far as EVG can now
foresee) materially and adversely affect, the business, operations,
properties, assets or conditions of EVG; and
(c)
EVG is not a party to any material
oral or written: (i) contract for the employment of any
officer or employee; (ii) profit sharing, bonus,
deferred compensation, stock option, severance pay, pension,
benefit or retirement plan, agreement or arrangement covered by
Title IV of the Employee Retirement Income Security Act, as
amended; (iii) agreement, contract or indenture relating to the
borrowing of money; (iv) guaranty of any obligation for
the borrowing of money or otherwise, excluding endorsements made
for collection and other guaranties of obligations, which, in the
aggregate exceeds $1,000; (v) consulting or
other contract with an unexpired term of more than one year or
providing for payments in excess of $10,000 in the
aggregate; (vi) collective bargaining
agreement; (vii) contract, agreement, or other commitment involving
payments by it for more than $10,000 in the aggregate.
Section 2.10
No Conflict With Other Instruments . The execution of this
Agreement and the consummation of the transactions contemplated by
this Agreement will not result in the breach of any term or
provision of, or constitute an event of default under, any material
indenture, mortgage, deed of trust or other material contract,
agreement or instrument to which EVG is a party or to which any of
its properties or operations are subject.
Section 2.11
Material Contract Defaults. To the best of
EVG's knowledge and belief, it is not in default in any material
respect under the terms of any outstanding contract, agreement,
lease or other commitment which is material to the business,
operations, properties, assets or condition of EVG, and there is no
event of default in any material respect
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