ALLOCATION AGREEMENT
This
ALLOCATION AGREEMENT, dated as of August 12, 2005, (the
"Agreement")
by and among CHINA INTERNATIONAL
ENTREPRISES CORP., a Delaware corporation
("CIEC"), WARNER TECHNOLOGY &
INVESTMENT CORP., a New Jersey corporation
("Warner"), HUAKANG ZHOU ("Zhou") and
AMERICAN UNION SECURITIES, INC., a New
York corporation ("AUS" and together with
Warner and Zhou, the "Shareholders").
WHEREAS,
the Shareholders own an aggregate of 1,800,000 of the issued
and
outstanding shares of Common Stock, par
value $.001 per share, of CIEC (the "
CIEC Shares");
WHEREAS,
the Shareholders believe it is in their best interest for all
of
the stockholders of CIEC to exchange their
CIEC Shares for Common Shares of
Moving Bytes Inc., a Canadian corporation
("MBYTF Shares"), upon the terms and
subject to the conditions set forth in a
Share Exchange Agreement to be executed
by CIEC, the Shareholders and certain other
persons who shall become
stockholders of CIEC pursuant to this
Agreement (the "Transferees"); and
WHEREAS,
in order to facilitate the Share Exchange Agreement, the
Shareholders desire to transfer some of
their CIEC Shares to the Transferees in
accordance with the terms and conditions of
this Agreement and to surrender
additional CIEC Shares to CIEC for
cancellation.
NOW,
THEREFORE, in consideration of the mutual terms, conditions and
other
agreements set forth herein, the parties
hereto hereby agree as follows:
ARTICLE I
EXCHANGE OF SHARES FOR COMMON STOCK
Section
1.1 Agreement to Transfer CIEC Shares to Transferees.
Simultaneously with the execution of this
Agreement, on the terms and subject to
the conditions set forth in this Agreement,
the Shareholders shall assign,
transfer, convey and deliver the number of
CIEC Shares to the persons whose
names and addresses are set forth in the
following table:
------------------------------------------------------------------------------
Shareholder
Number of CIEC Transferred Name and Address of
Transferee
------------------------------------------------------------------------------
AUS
250,000
Yue Xing
No. 28
Shuangjinbeili
Street,
Building
2,
Chaoyang
District,
Beijing, PR China
Mailing:
18 Kimberly
Court East
Hanover, NJ
07936
------------------------------------------------------------------------------
AUS
100,000
John Leo
100 Wall Street, 15th
Floor
New York, New York 10005
------------------------------------------------------------------------------
<PAGE>
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Warner
200,000
Cranberry Heights
Group,
Ltd. RR3 Box 3087 East
Stroudsburg, PA 18301
------------------------------------------------------------------------------
Warner
20,000
Liu Ming
136-14 Northern Blvd.
Suite 8E
Flushing, New York
11354-6514
------------------------------------------------------------------------------
Warner
100,000
Zhang Yi
333 Huaihaizhonglu
Road,
Ruian Plaza, 21st
Floor,
Shanghai, PR China
Mailing:
18 Kimberly
Court
East Hanover, NJ 07936
------------------------------------------------------------------------------
Section
1.2 Agreement to Return CIEC Shares to CIEC. Simultaneously
with
the execution of this Agreement each of
Warner and Zhou is surrendering to CIEC
for cancellation the number of CIEC Shares
set forth opposite its or his name
below:
------------------------------------------------------------------------------
Name of Shareholder
Number of CIEC Shares
Surrendered for
Cancellation
------------------------------------------------------------------------------
Warner
290,000
------------------------------------------------------------------------------
Zhou
540,000
------------------------------------------------------------------------------
Section
1.3 Holdings of Shareholders After Transfer and Surrender of
CIEC
Shares. After the transfers set forth in
Sections 1.1 and 1.2 of this Agreement
the Shareholders shall own the number of
CIEC Shares set forth opposite the name
of the Shareholder in the table below:
------------------------------------------------------------------------------
Name of Shareholder
Number of
CIEC
Shares
After
Performance of this Agreement
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