SHARE EXCHANGE
AGREEMENT
THIS SHARE EXCHANGE AGREEMENT
, dated as of July 30, 2009 (this
“ Agreement ”), is made and entered into
by and among ZURVITA, INC. , a company existing under the
laws of Delaware ( “Zurvita” ); RED
SUN MINING, INC. , a Delaware corporation (the
“Company” ); Matthew Taylor , the
Company’s principal shareholder (the “ Company
Principal Shareholder ”) and THE AMACORE GROUP,
INC. , the holder of 100% the issued and outstanding securities
of Zurvita ( “Amacore” ). Certain
capitalized terms used in this Agreement are defined in Exhibit B
attached hereto and incorporated herein by reference.
RECITALS
WHEREAS , on June 30, 2009, the Board of Directors of
the Company adopted resolutions approving the Company’s
acquisition of 100% of the issued and outstanding shares of Zurvita
by means of a share exchange with Zurvita and Amacore, upon the
terms and conditions hereinafter set forth in this Agreement;
and
WHEREAS , the aggregate common shares of Zurvita owned
by Amacore constitute 100% of the issued and outstanding securities
of Zurvita (collectively, the “ Zurvita Shares
”), and Amacore desires to sell and transfer their Zurvita
Shares in exchange for shares of the Company’s common stock
pursuant to the terms and conditions of this Agreement (the “
Share Exchange ”); and
WHEREAS , concurrent with the Share Exchange and as a
condition to its consummation, the Company will close on a private
placement financing raising gross proceeds in an amount acceptable
to Zurvita from certain accredited investors (the “
Private Placement ”), pursuant to which such
investors will purchase certain of the Company’s
securities;
NOW THEREFORE, in consideration of the foregoing and the
respective covenants, agreements and representations and warranties
set forth herein, the parties to this Agreement, intending to be
legally bound, hereby agree as follows:
AGREEMENT
The
foregoing recitals are a material part of this agreement and are
incorporated herein by reference.
1. DESCRIPTION
OF SHARE EXCHANGE.
1.1
The Share Exchange . Upon the terms and subject to the
conditions hereof, at the Closing (as hereinafter defined) the
parties shall do the following:
(a) Amacore
will sell, convey, assign, transfer and deliver to the Company
stock certificate(s) representing the total number of Zurvita
Shares owned by Amacore, resulting in the transfer of all 100
Zurvita Shares held by Amacore, and which shall constitute 100% of
the issued and outstanding Zurvita Shares, each accompanied by a
properly executed and authenticated stock power.
(b) As
consideration for the acquisition of the Zurvita Shares, the
Company will issue to Amacore, in exchange for its Zurvita Shares,
9,310,000 shares of the Company’s Common Stock.
1.2
Closing Date . The closing of the Share Exchange (the
“Closing” ) shall take place at the
offices of Zurvita’s attorneys at 10:00 a.m. New York Time on
July 30, 2009 or at such other place and time as mutually agreed to
by Zurvita and the Company (the “Closing
Date” ).
1.3
Taking of Necessary Action; Further Action . If, at any time
after the Closing, any further action is necessary or desirable to
carry out the purposes of this Agreement, Amacore, Zurvita, and the
Company (as applicable) will take all such lawful and necessary
action.
2.
REPRESENTATIONS AND WARRANTIES OF ZURVITA. Except as set
forth on the Zurvita Disclosure Schedule, Zurvita hereby represents
and warrants, as of the date hereof, to and for the benefit of the
Company, as follows:
2.1
Due Organization. Zurvita is a corporation duly organized,
validly existing and in good standing under the laws of Delaware
and has all necessary power and authority: (i) to conduct its
business in the manner in which its business is currently being
conducted and (ii) to own and use its assets in the manner in which
its assets are currently owned and used.
2.2
Formation Documents and Bylaws; Records. Zurvita has
delivered to the Company accurate and complete (through the date
hereof) copies of its Certificate of Incorporation and Bylaws,
including all amendments thereto (collectively referred to herein
as the “Zurvita Corporate Documents” ).
There has not been any material violation of any of the Zurvita
Corporate Documents, and at no time has Zurvita taken any action
that is inconsistent in any material respect with the Zurvita
Corporate Documents.
(a) The
authorized capital stock of Zurvita consists of 100 common shares,
par value $0.01 per share, of which 100 shares have been issued and
are outstanding. All of the outstanding Zurvita Shares have been
duly authorized and validly issued and are fully paid and
nonassessable. The Zurvita Shares to be transferred by Amacore to
the Company in connection with the Share Exchange represent 100% of
the shares of outstanding capital stock of Zurvita, immediately
prior to the Share Exchange.
(b) Except
as set forth on Schedule 2.3(b) of the Zurvita Disclosure Schedule,
there are no: (i) outstanding subscriptions, options, calls,
warrants or rights (whether or not currently exercisable) to
acquire any shares of capital stock of Zurvita or other securities
of Zurvita; (ii) outstanding securities, notes, instruments or
obligations that are or may become convertible into or exchangeable
for any shares of capital stock of Zurvita or other securities of
Zurvita; (iii) outstanding or authorized stock appreciation,
phantom stock or similar rights with respect to the capital stock
of Zurvita; (iv) contracts (other than the Transaction Documents)
under which Zurvita is or may become obligated to sell, transfer,
exchange or issue any shares of capital stock of Zurvita or any
other securities of Zurvita; (v) agreements, voting trusts, proxies
or understandings with respect to the voting, or registration under
any applicable securities laws, of any securities of Zurvita; or
(vi) conditions or circumstances that may give rise to or provide a
basis for the assertion of a claim by any Person to the effect that
such Person is entitled to acquire or receive any securities of
Zurvita .
(c) Except
as set forth on Schedule 2.3(c) of the Zurvita Disclosure Schedule,
Zurvita has no stock option plans or other stock or equity related
plans.
(d) Contemporaneously
with the closing of the Share Exchange, Zurvita will enter into a
multi-level marketing agreement with OmniReliant Holdings, Inc.
(“Omni”) whereby Omni will provide certain marketing
services in consideration for 3,800,000 shares of Common
Stock.
2.4
Finder’s Fee. Except as set forth on Schedule 2.4 of
the Zurvita Disclosure Schedule, no broker, finder or investment
banker is entitled to any brokerage, finder’s or other fee or
commission in connection with the Share Exchange or any of the
other transactions contemplated by the Transaction Documents based
upon any arrangements or agreements made by or on behalf of
Zurvita.
2.5
Compliance with Legal Requirements. Zurvita is, and has at
all times been, in compliance in all material respects with all
applicable Legal Requirements. Zurvita has never received any
notice or other communication from any Person regarding any actual
or possible violation of, or failure to comply with, any Legal
Requirement. Zurvita and has obtained all material permits,
certificates and licenses required by any Legal Requirement for the
conduct of its business and the ownership of its assets. Zurvita is
not in violation of any such permit, certificate or license, and no
Legal Proceedings are pending or, to the Knowledge of Zurvita,
threatened to revoke or limit any such permit, certificate or
license.
2.6
Legal Proceedings. There is no pending Legal Proceeding, and
to Zurvita’s Knowledge, no Person has threatened to commence
any Legal Proceeding, that (i) involves or affects Zurvita or any
of the assets owned or used by Zurvita or (ii) that challenges the
Share Exchange or any of the other transactions contemplated by the
Transaction Documents.
2.7
Authority; Binding Nature of Agreement. Zurvita has all
necessary corporate power and authority to enter into and to
perform its obligations under the Transaction Documents, and the
execution, delivery and performance by Zurvita of the Transaction
Documents have been duly authorized by all necessary action on the
part of Zurvita, its board of directors and its shareholders, to
the extent applicable. Each of the Transaction Documents to which
Zurvita is a party constitutes the valid and binding obligation of
Zurvita, enforceable against Zurvita in accordance with its terms,
subject to: (i) laws of general application relating to bankruptcy,
insolvency and the relief of debtors; and (ii) rules of law
governing specific performance, injunctive relief and other
equitable remedies.
2.8
Non-Contravention. Neither the execution, delivery or
performance of the Transaction Documents, nor the consummation of
any of the transactions contemplated thereby, will directly or
indirectly (with or without notice or lapse of time): (i) result in
a violation of any of the provisions of the Zurvita Corporate
Documents; (ii) to Zurvita’s Knowledge, result in a violation
of, or give any Governmental Body or other Person the right to
challenge any of the transactions contemplated by the Transaction
Documents or to exercise any remedy or obtain any relief under any,
Legal Requirement or any Order to which Zurvita or any of the
assets owned, used or controlled by Zurvita, are subject; or (iii)
result in a violation or breach of, or result in a default under,
with or without notice or lapse of time, any provision of any
Zurvita Contract.
2.9
Disclosure. Zurvita has not made any representation,
warranty or statement in this Agreement, or in any of the schedules
or exhibits attached to this Agreement, that contains any untrue
statement of a material fact or, to the reasonable knowledge of
Zurvita, omitted to state any material fact necessary in order to
make the statements made herein and therein, in the light of the
circumstances under which they were made, not
misleading.
2.10
Consents and Approvals . Except for (i) applicable
requirements of U.S. federal securities laws and state securities
or blue-sky laws; (ii) applicable requirements of securities law of
Delaware, as applicable; and (iii) as otherwise set forth in
Schedule 2.10 of the Zurvita Disclosure Schedule, no filing with,
and no permit, authorization, consent or approval of, any third
party, public body or authority is necessary for the consummation
by Zurvita of the transactions contemplated by this
Agreement.
3.
REPRESENTATIONS AND WARRANTIES OF AMACORE. Amacore hereby
represents and warrants, as of the date hereof and with respect
only to the Zurvita Shares owned by Amacore, to and for the benefit
of the Company, as follows:
3.1
Authority; Binding Nature of Agreement. Amacore has all
necessary power and authority to enter into and to perform its
obligations under the Transaction Documents to which it is a party,
and, if applicable, the execution, delivery and performance by
Amacore of each such Transaction Document has been duly authorized
by all necessary action on the part of Amacore. Each Transaction
Document to which Amacore is a party constitutes the valid and
binding obligation of Amacore, enforceable against it in accordance
with its terms, subject to: (i) laws of general application
relating to bankruptcy, insolvency and the relief of debtors; and
(ii) rules of law governing specific performance, injunctive relief
and other equitable remedies
3.2
Title to Zurvita Shares. Amacore owns all right, title and
interest in and to its Zurvita Shares, and has the right to
transfer to the Company all Zurvita Shares to be transferred by it
to the Company in connection with the Share Exchange, and all such
Zurvita Shares will be transferred to the Company free and clear of
all Encumbrances.
3.3
Restricted Securities . Amacore is acquiring the shares of
Common Stock issued by the Company, in connection with the Share
Exchange, for its own account (and not for the account of others)
for investment and not with a view to the distribution thereof.
Amacore acknowledges that such shares of Common Stock will not be
registered pursuant to the Securities Act or any applicable state
securities laws, that such shares of Common Stock will be
characterized as “restricted securities” under federal
securities laws, and that under such laws and applicable
regulations such shares of Common Stock cannot be sold or otherwise
disposed of without registration under the Securities Act or an
exemption therefrom. In this regard, Amacore is familiar with Rule
144 promulgated under the Securities Act, as currently in effect,
and understands the resale limitations imposed thereby and by the
Securities Act; and, the Zurvita Shareholder agrees not to sell or
otherwise dispose of such shares of Common Stock without such
registration or an exemption therefrom.
3.4
Accredited Investor; Non-U.S. Person . Amacore is either an
“Accredited Investor” as that term is defined in Rule
501 of Regulation D of the Securities Act or not a “U.S.
Person” as such term is defined by Rule 902 of Regulation S
of the Securities Act. Amacore is able to bear the economic risk of
acquiring the shares of Common Stock pursuant to the terms of this
Agreement, including a complete loss of Amacore’s investment
in such shares of Common Stock
3.5
Legend. Amacore acknowledges that the certificate(s)
representing the shares of Common Stock shall each conspicuously
set forth on the face or back thereof a legend in substantially the
following form if Amacore is a U.S. Person:
THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR PURSUANT TO AN
EXEMPTION FROM REGISTRATION OR AN OPINION OF COUNSEL SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.
THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS
ON TRANSFER FOR A PERIOD OF TIME, NOT TO EXCEED FOUR (4) YEARS FROM
THE CLOSING.
If Amacore is
not a U.S. Person, such certificate shall bear the following
legend:
“THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE
TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED
HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED (THE “1933 ACT”).
NONE OF THE
SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933
ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED,
MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED
STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE
WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. “UNITED
STATES” AND “U.S. PERSON” ARE AS DEFINED BY
REGULATION S UNDER THE 1933 ACT.”
THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS
ON TRANSFER FOR A PERIOD OF TIME, NOT TO EXCEED FOUR (4) YEARS FROM
THE CLOSING.
3.6
Address . The communication address of Amacore is as listed
in Section 10.3 herein.
4.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY. At the
Closing, the Company represents and warrants to Zurvita and Amacore
and acknowledges that Zurvita and Amacore are relying upon such
representations and warranties in connection with the execution,
delivery, and performance of this Agreement, notwithstanding any
investigation made by or on behalf of Zurvita or Amacore, as
follows:
4.1
Due Organization; No Subsidiaries, etc. The Company is a
corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware and has all necessary power
and authority: (i) to conduct its business in the manner in which
its business is currently being conducted; (ii) to own and use its
assets in the manner in which its assets are currently owned and
used; and (iii) to perform its obligations under all Company
Contracts. The Company has not conducted any business under or
otherwise used, for any purpose or in any jurisdiction, any
fictitious name, assumed name, trade name or other name, other than
the name “Red Sun Mining, Inc.” The Company is not and
has not been required to be qualified, authorized, registered or
licensed to do business as a foreign corporation in any
jurisdiction.The Company does not have any Subsidiaries, does not
own any controlling interest in any Entity and has never owned,
beneficially or otherwise, any shares or other securities of, or
any direct or indirect equity or other financial interest in, any
Entity. The Company has not agreed and is not obligated to make any
future investment in or capital contribution to any Entity. Neither
the Company nor any of the shareholders of the Company has ever
approved, or commenced any Legal Proceeding or made any election
contemplating, the dissolution or liquidation of the
Company’s business or affairs.
4.2
Certificate of Incorporation and By-laws; Records. The
Company has delivered to Zurvita accurate and complete (through the
date hereof) copies of: (i) the Certificate of Incorporation and
By-laws, including all amendments thereto, of the Company; (ii) the
stock records of the Company; and (iii) the minutes and other
records of the meetings and other proceedings (including any
actions taken by written consent or otherwise without a meeting) of
the holders of the Common Stock, the board of directors of the
Company and all committees of the board of directors of the Company
(the items described in the foregoing clauses “(i)”,
“(ii)” and “(iii)” of this Section 4.2
being collectively referred to herein as the “Company
Corporate Documents” ). There have been no formal
meetings held of, or corporate actions taken by, the shareholders
of the Company, the board of directors of the Company or any
committee of the board of directors of the Company that are not
fully reflected in the Company Corporate Documents. There has not
been any violation of any of the Company Corporate Documents, and
at no time has the Company taken any action that is inconsistent in
any material respect with the Company Corporate Documents. The
books of account, stock records, minute books and other records of
Company are accurate, up-to-date and complete in all material
respects, and have been maintained in accordance with Legal
Requirements and prudent business practices.
(a) The
authorized capital stock of the Company consists of: (i)
100,000,000 shares of common stock, par value $0.0001 per share, of
which 3,000,000 shares have been issued and are outstanding; and
(ii) 10,000,000 shares of blank check preferred stock, par value
$0.0001 per share, of which none are issued and outstanding. All of
the outstanding shares of the Company’s capital stock have
been duly authorized and validly issued and are fully paid and
nonassessable. All of the outstanding shares of the Company’s
capital stock and all of the outstanding subscriptions, options,
calls, warrants or rights (whether or not currently exercisable) to
acquire any shares of the Company’s capital stock or other
securities of the Company have been issued in compliance with all
applicable federal and state securities laws and other applicable
Legal Requirements and all requirements set forth in the Company
Corporate Documents and Company Contracts. Except with respect to
the proposed Repurchase, no shares of the Company capital stock are
subject to a repurchase option in favor of the Company.
(b) There
are no: (i) outstanding subscriptions, options, calls, warrants or
rights (whether or not currently exercisable) to acquire any shares
of the Company’s capital stock or other securities of the
Company; (ii) outstanding securities, notes, instruments or
obligations that are or may become convertible into or exchangeable
for any shares of the Company’s capital stock or other
securities of the Company; (iii) outstanding or authorized stock
appreciation, phantom stock or similar rights with respect to the
capital stock of the Company; (iv) Contracts (other than the
Transaction Documents and documents relating to the Private
Placement) under which the Company is or may become obligated to
sell, transfer, exchange or issue any shares of the Company’s
capital stock or any other securities of the Company; (v)
agreements, voting trusts, proxies or understandings with respect
to the voting, or registration under the Securities Act, of any
shares of the Company; or (vi) conditions or circumstances that may
give rise to or provide a basis for the assertion of a claim by any
Person to the effect that such Person is entitled to acquire or
receive any shares of the Company’s capital stock or other
securities of the Company.
(c) The
Company does not have any stock option plans or other stock or
equity related plans.
4.4
SEC Reports; Financial Statements. The Company has filed all
reports required to be filed by it under the Securities Act and the
Exchange Act, including pursuant to Section 13(a) or 15(d) thereof
(the foregoing materials being collectively referred to herein as
the “ SEC Reports ” and, together with
this Agreement and the Schedules to this Agreement, the “
Disclosure Materials ”) on a timely basis or
has received a valid extension of such time of filing and has filed
any such SEC Reports prior to the expiration of any such extension.
The Company has delivered or otherwise made available to Zurvita
copies of all SEC Reports filed within the 10 days preceding the
date hereof. As of their respective dates, the SEC Reports complied
in all material respects with the requirements of the Securities
Act and the Exchange Act and the rules and regulations of the
Commission promulgated thereunder, and none of the SEC Reports,
when filed, contained any untrue statement of a material fact or
omitted to state a material fact required to be stated therein or
necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading. The
financial statements of the Company included in the SEC Reports
(the “ Financial Statements ”) comply in
all material respects with applicable accounting requirements and
the rules and regulations of the Commission with respect thereto as
in effect at the time of filing. The Financial Statements have been
prepared in accordance with GAAP, except as may be otherwise
specified in the Financial Statements or the notes thereto, and
fairly present in all material respects the assets, liabilities,
financial position and results of operations of the Company as of
and for the dates thereof and the results of operations and cash
flows for the periods then ended, subject, in the case of unaudited
statements, to normal, immaterial, year-end audit adjustments. The
books and records of the Company are true, accurate and complete in
all material respects. All material agreements to which the Company
is a party or to which the property or assets of the Company are
subject are included as part of or specifically identified in the
SEC Reports.
4.5
Equipment; Leasehold; Business Conducted. All material items
of equipment and other tangible assets owned by or leased to the
Company are in good condition and repair (ordinary wear and tear
excepted) and are adequate for the conduct of the Company’s
business in the manner in which such business is currently being
conducted , as described in the SEC Reports . Except as set forth
on Schedule 4.5 of the Company Disclosure Schedule, the Company
does not own any real property or any interest in real property.
The Company has never, since its inception, owned or conducted any
business, other than as described in the SEC Reports.
4.6
Intellectual Property. The Company has no Registered IP,
Intellectual Property Rights or Intellectual Property.
4.7
Contracts. Schedule 4.7 of the Company Disclosure Schedule
identifies each Company Contract and provides an accurate
description of the terms of each Company Contract that is not in
written form. The Company has delivered to Zurvita accurate and
complete copies of all written Company Contracts. Each Company
Contract is valid, binding and enforceable by the Company in
accordance with its terms subject to: (i) laws of general
application relating to bankruptcy, insolvency and the relief of
debtors; and (ii) rules of law governing specific performance,
injunctive relief and other equitable remedies. The Company has not
violated or breached, or committed any default under, any Company
Contract, and, to the Company’s Knowledge, no other Person
has violated or breached, or committed any default under, any
Company Contract. Schedule 4.7 of the Company Disclosure Schedule
provides an accurate and complete list of all Consents required
under any Company Contract to consummate the transactions
contemplated by the Transaction Documents.
4.8
Finder’s Fee. Except as set forth on Schedule 4.8 of
the Company Disclosure Schedule, no broker, finder or investment
banker is entitled to any brokerage, finder’s or other fee or
commission in connection with the Share Exchange or any of the
other transactions contemplated by the Transaction Documents based
upon any arrangements or agreements made by or on behalf of the
Company.
4.9
Compliance with Legal Requirements. The Company is, and has
at all times been, in compliance with all applicable material Legal
Requirements. To the Company’s Knowledge, the Company is, and
has at all times been, in compliance with all other applicable
Legal Requirements. The Company has never received any notice or
other communication from any Person regarding any actual or
possible violation of, or failure to comply with, any Legal
Requirement. The Company has obtained all material permits,
certificates and licenses required by any Legal Requirement for the
conduct of its business and the ownership of its assets. The
Company is not in violation of any such permit, certificate or
license, and no Legal Proceedings are pending or, to the Knowledge
of the Company, threatened to revoke or limit any such permit,
certificate or license.
4.10
Legal Proceedings. There is no pending Legal Proceeding, and
to the Company’s Knowledge, no Person has threatened to
commence any Legal Proceeding, that (i) involves or affects the
Company or any of the assets owned or used by the Company, or (ii)
that challenges the Share Exchange or any of the other transactions
contemplated by the Transaction Documents. No Legal Proceeding has
ever been commenced that involves or affects the Company or the
assets owned by the Company. There is no Order in which the Company
is named or to which any of the assets of the Company is
subject.
4.11
No Undisclosed Liabilities. The Company has no Liabilities,
except for (i) Liabilities reflected on the Financial Statements,
(ii) accounts payable incurred in the ordinary course of business
since the date of the last balance sheet reflected in the Financial
Statements, none of which are material in nature or exceed US$
5,000 in the aggregate, (iii) Liabilities under the Company
Contracts, and (iv) Liabilities incurred in connection with the
negotiation of the Transaction Documents and the transactions
contemplated thereby. A
4.12
Tax Matters. Except as set forth on Schedule 4.12 of the
Company Disclosure Schedule, all Tax Returns required to be filed
by or on behalf of the Company with any Governmental Body before
the Closing Date (the “Company Returns”
): (i) have been or will be filed on or before the applicable due
date (including any extensions of such due date); (ii) have been,
or will be when filed, accurately and completely prepared in all
material respects in compliance with all applicable Legal
Requirements; and (iii) have been provided or made available to
Zurvita. All Taxes owed by the Company have been paid when due,
whether or not such amounts are shown on any Company Returns. The
Financial Statements fully accrue all actual and contingent
Liabilities for unpaid Taxes with respect to all periods through
the date thereof and the Company has made adequate provision for
unpaid Taxes after that date in its books and records. No Company
Return has ever been examined or audited by any
Governmen
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