Business
Global Profit Technologies Acquires IP of 4X-MM
Global Profit Technologies Acquires IP of 4X-MM.
About this update from Global Profit Technologies, Inc.
[{"type":"text","content":" INTELLECTUAL PROPERTY PURCHASE AGREEMENT This Agreement made this 17th day of September, 2008, by and between Global Profit Technologies, Inc., a Florida Corporation (hereinafter \"GLPT\") and all the Shareholders of Global Profit Bermuda, Ltd. (\"Bermuda\") which have appointed and are represented by Jozef Nemeth, Jozef Slavic and Tibor Kozinka (hereinafter \"Bermuda Shareholders\") RECITALS: A. WHEREAS Bermuda is the owner of all the intellectual property rights to the 4X-MM money machine software system. B. WHEREAS, GLPT is a publicly traded company incorporated in Florida, trading under the stock symbol GLPT.PK and is desirous of acquiring the rights to the 4X-MM money machine software system; C. WHEREAS the Bermuda Shareholders are desirous of selling all of their stock in Bermuda to GLPT: D. WHEREAS, GLPT is willing to transfer over to the Bermuda Shareholders one hundred million shares (100,000,000) of its common stock to the Bermuda Shareholders for their 100 percent stock ownership in Bermuda E. WHEREAS, GLPT and the Shareholders of Bermuda are desirous of entering into this transfer of shares so that the Bermuda Shareholders will own 100,000,000 shares of GLPT and GLPT will own one hundred percent of Bermuda which owns all of the intellectual property rights to the 4X-MM Money Machine Software System COVENANTS: NOW, THEREFORE, in consideration of the foregoing and of the covenants and conditions hereinafter set forth, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. Purchase of 100 percent of Global Profit Bermuda, Ltd Stock. On the basis of the representations, warranties and undertakings, but s...