Business
Global Profit Technologies, Inc. Acquires Global Profit Systems, Inc.
Global Profit Technologies, Inc. Acquires Global Profit Systems, Inc..
About this update from Global Profit Technologies, Inc.
[{"type":"text","content":"STOCK SWAP AGREEMENT This Agreement made this 8th day of September, 2008, by and between Jozef Nemeth (hereinafter \"Nemeth\") and Global Profit Technologies, Inc., a Florida Corporation (hereinafter \"GLPT\"). RECITALS: A. WHEREAS, Nemeth owns one million shares (1,000,000) of Common stock of Global Profit Systems, Inc. (\"GPS\") which is one hundred percent of the outstanding stock in GPS; B. WHEREAS, GLPT is a publicly traded company incorporated in Florida, trading under the stock symbol GLPT.PK and it is acquiring the rights to the 4X-MM money machine software system; B. WHEREAS, the parties desire to swap the Nemeth's one million shares in GPS for ten million shares of GLPT. 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. Swap of Shares. On the basis of the representations, warranties and undertakings, but subject to the terms and conditions set forth in this Agreement, Nemeth shall swap with GLPT one million shares (1,000,000) of common stock of GPS (the \"Shares\") owned by Nemeth for Ten Million shares (10,000,000) of Common Stock of GLPT. This stock swap shall occur immediately after the execution and delivery of this Agreement and is intended to qualify as a tax-free reorganization under Internal Revenue Code Section 368(a)(1)(E). 1.2 The Closing. The swap of the Shares shall take place at Weiss & Moy, P.C., 4204 N. Brown Ave., Scottsdale, Arizona on September __ , 2008. Such date is herein referred to as the \"Closing Date\". 1.3 Instruments of Conveyance and Transfer. At the Closing Date, Nemeth shall deliver certificates representing the Shares to GLPT, duly endorsed by the Nemeth to the GLPT, in form and substance satisfactory to GLPT (\"Certificates\"), as shall be effective to vest in GLPT all right, title and interest in an...