UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported):  

May 12, 2020

 

Migom Global Corp.

(Exact Name of Registrant as Specified in its Charter)

 

Nevada   333-216086   61-1787148
(State of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

1185 6th Ave, 3rd floor

New York, NY, 10036, USA

(Address of principal office)

 

(212) 257 6711

(Registrant’s telephone number, including area code)

(Former Name or former address if changed from last report.)  

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).  Emerging growth company  ☒ 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act: None

 

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement

 

On May 12, 2020, Migom Global Corp. (the “Company”), entered into an acquisition agreement with Migom Bank Ltd. and Thomas A. Schaetti (the “Migom Agreement”). Pursuant to the Migom Agreement, the Company acquired all of the outstanding equity of Migom Bank Ltd. (“Migom Bank”). Migom Bank is a regulated full-service international bank, licensed by the Financial Services Unit of the Ministry of Finance of Commonwealth of Dominica, specializing in providing retail banking services to individuals and companies worldwide. In addition to the traditional services of a deposit institution Migom Bank offers lending, leasing, and investment services, provides money transmittal services, is authorized to issue and administer means of payment such as credit and debit cards, travelers cheques, bankers’ drafts and electronic money. Migom Bank is also authorized by its regulators to provide custody of securities, issue guarantees and commitments, provide credit reference services, safe custody of valuables, offer all forms of electronic banking and foreign exchange and precious metal dealing services. Migom Bank is also authorized by its regulators to perform a variety of investment banking and corporate finance services. In exchange for the equity Migom Bank, the Company issued Mr. Schaetti 126,222 shares of common stock of the Company, at a price per share of $9.00.

 

On May 12, 2020, the Company, entered into an acquisition agreement with Central Rich Trading Ltd. and Thomas A. Schaetti (the “Central Agreement”). Pursuant to the Central Agreement, the Company acquired all of the outstanding equity of Central Rich Trading Ltd. (“Central”). Central is a money service business that is licensed by the Hong Kong Customs and Excise Department to provide all forms of permitted money services, electronic money and payment services in the respective territories. In exchange for the equity of Central, the Company issued Mr. Schaetti 17,778 shares of common stock of the Company, at a price per share of $9.00.

 

The Migom Bank Ltd. Agreement and the Central Rich Trading Ltd. Agreement were undertaken by the Company with a related party. However, the terms of the Migom Agreement and the Central Agreement were made at arms-length. Both the Migom Bank Ltd. Agreement and the Central Rich Trading Ltd. are conditioned on approval of the transfer of ownership by the Financial Services Unit of the Ministry of Finance of Commonwealth of Dominica and Hong Kong Customs and Excise Department respectively.

 

Item 2.01 Completion of Acquisition or Disposition of Assets

 

On May 14, 2020, the Company completed the acquisition of all of the outstanding equity of Migom Bank, pursuant to the terms of the Migom Agreement, dated May 12, 2020, as described above. Migom is engaged in the banking industry.

 

On May 14, 2020, the Company completed the acquisition of all of the outstanding equity of Central, pursuant to the terms of the Central Agreement, dated May 12, 2020, as described above. Central is engaged in the money service business.

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On May 14, 2020, Mr. Thomas A. Schaetti was appointed as President of the Company and Georgi Parrik assumed teh title of Chief Executive Officer.

 

FORM 10 DISCLOSURE

 

As mentioned in Item 2.01, on May 14, 2020, the Company effectively acquired Migom Bank and Central in transactions to be accounted for as an acquisition of a material asset. According to Item 2.01 of Form 8-K, the registrant is required to disclose the information that would be required if the registrant were filing a general form for registration of securities under the Exchange Act on Form 10. Such information will be filed as an amendment to this Form 8-K within 75 days of May 14, 2020.

 

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END OF FORM 10 DISCLOSURE

 

Item 9.01 Financial Statements and Exhibits

 

(a) Financial Statements of Business Acquired. In accordance with Item 9.01(a), Migom Bank’s and Central’s audited financial statements for the years ended December 3, 2019 and 22018 will be filed an amendment to this Current Report on Form 8-K and Migom Bank’s and Central’s unaudited financial statements for the interim period ended March 31, 2020 will be filed by amendment to this Current Report.

 

(b) Pro forma financial information: The pro forma financial information required by this Item 9.01(b) will be filed by amendment to this Current Report no later than 75 days from May 14, 2020.

 

(c) Shell Company Transactions. Not applicable.

 

(d) Exhibits:

 

10.1   Acquisition agreement, dated May 12, 2020, by and between the Company and Migom Bank Ltd.
     
10.2   Acquisition agreement, dated May 12, 2020, by and between the Company and Central Rich Trading Ltd.
     
99.1   Resolutions of appointment, dated May 14, 2020.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

May 14, 2020

 

Migom Global Corp.  
     
  /s/ Georgi Parrik  
By: Georgi Parrik  
Tile: Chief Executive Officer  

 

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EXHIBIT INDEX

 

Exhibit
No.
  Document Description
10.1   Acquisition agreement, dated May 12, 2020, by and between the Company and Migom Bank Ltd.
     
10.2   Acquisition agreement, dated May 12, 2020, by and between the Company and Central Rich Trading Ltd.
     
99.1   Resolutions of appointment, dated May 14, 2020.

 

 

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Exhibit 10.1

 

Acquisition AGREEMENT

 

This Acquisition Agreement (“Agreement”) made on this 12th day of May 2020, by Migom Global Corp., a public corporation organized under the laws of Nevada (the “Company” or “Buyer”), with its principal place of business at 1185 Avenue of the Americas, 3rd Floor, New York, NY 10036 and Migom Bank Ltd. (“ACQUIRED COMPANY”), a banking limited company organized under the laws of the Commonwealth of Dominica, with its principal place of business at 75 Hillsboro Str., 2nd Floor, Roseau, Commonwealth of Dominica, and Thomas A. Schaetti (“Seller”), an address of Dreistaendegasse 38/1 A-1230 Vienna, Austria.

 

Background

 

The Company and ACQUIRED COMPANY desire to enter into a transaction whereby the Company acquires 1,000 shares of ACQUIRED COMPANY, equal to 100% of the equity of ACQUIRED COMPANY (the “Equity”), in exchange for One Hundred Twenty-Six Thousand Two Hundred Twenty-Two (126,222) restricted shares of common stock, $.001 par value per share (“Common Shares”) of the Company, at a value of $1,136,000, or $9.00 per share.

 

Terms of Agreement

 

In consideration of the mutual promises, covenants and representations contained herein, the parties herewith agree as follows:

 

ARTICLE I

ACQUISITION TERMS

 

1.01  Acquisition. The Company will acquire 100% of the shares of ACQUIRED COMPANY and all preexisting assets as specified in Exhibit A and with all preexisting liabilities, provided such liabilities have been disclosed on the attached Exhibit A. In the event Company should be notified of a preexisting liability which has not been disclosed on Exhibit A, then Seller shall remain liable for such preexisting liability.

 

1.02  Compensation. In exchange, Seller shall receive One Hundred Twenty-Six Thousand Two Hundred Twenty-Two (126,222) Common Shares of the Company upon the Closing.

 

1.03  Closing. The Closing of this transaction will take place on or before May __, 2020 under the terms described in Article IV of this Agreement, unless mutually extended by the parties. At time of closing Seller agrees to file a Form 8-K for the acquisition and to prepare a “Super” Form 8-K with the condensed and consolidated financial statements of the Company and ACQUIRED COMPANY.

 

1.04  Post-Closing Operations. After the Closing, ACQUIRED COMPANY will be a wholly-owned subsidiary of the Company subject to the terms and conditions outlined in this Agreement. ACQUIRED COMPANY shall be responsible to report to the Company all financial matters and newsworthy events as they materialize, as Seller recognizes Company is a publicly traded company and has certain material obligations of disclosure pursuant to state and federal laws, statutes and regulations.

 

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ARTICLE II

REPRESENTATIONS AND WARRANTIES OF THE COMPANY/BUYER

 

The Company/Buyer represents and warrants to ACQUIRED COMPANY and Seller the following:

 

2.01  Organization. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the state of Nevada and has all necessary corporate powers to own properties and carry on its business. All actions taken by the incorporators, Directors and/or shareholders of Company have been valid and in accordance with all applicable laws.

 

2.02  Capital. The authorized capital stock of Company consists of 75,000,000 shares of Common Stock, of which approximately 7,345,000 shares are issued and outstanding. All outstanding shares are fully paid and non-assessable, free of liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement. At the Closing, there may be outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating the Company to issue or transfer from treasury any additional shares of its capital stock. None of the outstanding shares of the Company are subject to any stock restriction agreements.

 

2.03  Financial Statements. The unaudited balance sheet as of March 31, 2020 and the audited balance sheet as of December 31, 2019 and the related statements of income and retained earnings for the periods then ended, fairly present the financial position of the Company as of the dates of the balance sheets included in the financial statements, and the results of its operations for the period indicated.

 

2.04  Tax Returns. Within the times, and in the manner prescribed by law, the Company has filed all federal, state, and local tax returns required by law. The Company has paid, or will pay by the Closing, all taxes, assessments, and penalties due and payable. There are no present disputes as to taxes of any nature payable by the Company as of the Closing, and there shall be no taxes of any kind, due or owing.

 

2.05  Ability to Carry Out Obligations. Company has the right, power, and authority to enter into and perform its obligations under this Agreement. The execution and delivery of this Agreement by the Company and the performance by the Company of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation or any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument to which the Company is a party or by which they may be bound, nor will any consents or authorizations of any party other than those hereto be required or (c) an event that would result in the creation or imposition of any lien, charge, or encumbrance on any asset of Company or upon the Shares.

 

2.06  Full Disclosure. None of the representations and warranties made in this Agreement by the Company, or on its behalf, contains or will contain any untrue statement of a material fact or omit any material fact the omission of which would be misleading.

 

2.07  Compliance with Laws. The Company has complied with all, and is not in violation of any, federal, state, or local statute, law, or regulation. The Company has complied with all federal and state securities laws in connection with the offer, sale and distribution of its securities.

 

2.08  Litigation. The Company is not a party to any suit, action, arbitration, or legal, administrative, or other proceeding or pending governmental investigation. To the best of Company’s knowledge, there is no basis for any such action or proceeding, and no such action or proceeding is threatened against the Company. The Company is not subject to, or in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality.

 

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2.09  Conduct of Business. Prior to the Closing, the Company shall not (i) amend its Certificate of Incorporation or Bylaws, (ii) declare dividends or redeem or sell stock or other securities, except as part of completing this transaction, (iii) incur any liabilities, (iv) acquire any assets, enter into any contract, or guarantee obligations of any third party, except for the proposed acquisitions of Central Rich Trading Ltd., or (v) enter into any other transaction, which is outside the bounds of its customary and ordinary operations, except for the proposed acquisitions of Central Rich Trading Ltd.

 

2.10 Exempt Transaction. Buyer understands that the offering and sale of the Equity is intended to be exempt from registration under the Act and exempt from registration or qualification under any state law.

 

2.11  Authority. Buyer represents that he has full power and authority to enter into this Agreement. This Agreement has been duly and validly executed and delivered by Buyer, and upon the execution and delivery by Seller of this Agreement and the performance by Seller of its obligations herein, will constitute, a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms, except as such enforcement may be limited by bankruptcy or insolvency laws or other laws affecting enforcement of creditors’ rights or by general principles of equity.

 

2.12  Investment Purpose. The Equity to be purchased by Buyer hereunder will be acquired for investment for Buyer’s own account, not as a nominee or agent, and not with a view to the public resale or distribution thereof, and Buyer has no present intention of selling, granting any participation in, or otherwise distributing the same.

 

2.13  Due Diligence. Buyer has conducted his own due diligence with respect to ACQUIRED COMPANY and its liabilities and believes he has enough information upon which to base an investment decision in the Equity.

 

2.14  Investment Experience. The Buyer understands that the purchase of the Equity involves substantial risk. The Buyer (a) has experience as a Buyer in securities of companies in the development stage and acknowledges that he can bear the economic risk of Buyer’s investment in the Equity and (b) has such knowledge and experience in financial, tax, and business matters so as to enable Buyer to evaluate the merits and risks of an investment in the Equity, to protect Buyer’s own interests in connection with the investment, and to make an informed investment decision with respect thereto.

 

2.15  No Oral Representations. No oral or written representations have been made other than as stated, or in addition to those stated, in this Agreement, and Buyer is not relying on any oral statements made by Seller, or any of Seller’s representatives or affiliates, in purchasing the Equity.

 

2.16  Restricted Securities. Buyer understands that the Equity is characterized as “restricted securities” under the Act in as much as they were acquired from the Seller in a transaction not involving a public offering and that under the Act, and applicable regulations thereunder.

 

2.17  Opinion Necessary. Buyer acknowledges that if any transfer of the Equity is proposed to be made in reliance upon an exemption under the Act. Buyer acknowledges that a restrictive legend appears on the Equity and must remain on the Equity until such time as it may be removed under the Act.

 

2.18 Truth of Representations. All these representations shall be true as of the Closing and shall survive the Closing for a period of one year.

 

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ARTICLE III

REPRESENTATIONS AND WARRANTIES OF ACQUIRED COMPANY and SELLER

 

ACQUIRED COMPANY and SELLER represents and warrants to the Company the following:

 

3.01  Organization. ACQUIRED COMPANY is a limited liability company duly organized, validly existing, and in good standing under the laws of the Commonwealth of Dominica and has all necessary corporate powers to own properties and carry on its business. All actions taken by the incorporators, directors and/or shareholders of ACQUIRED COMPANY have been valid and in accordance with all applicable laws.

 

3.02  Capital. The authorized capital of ACQUIRED COMPANY consists of 1,000 shares. All outstanding shares are fully paid and non-assessable, free of liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement. At the Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating ACQUIRED COMPANY to issue or transfer from treasury any additional shares of its capital stock. None of the outstanding shares of ACQUIRED COMPANY are subject to any stock restriction agreements.

 

3.03  Financial Statements. The unaudited balance sheet of as of March 31, 2020 and December 31, 2109, and the related statements of income and retained earnings for the period then ended fairly present the financial position of ACQUIRED COMPANY as of the date of the balance sheet included in the financial statements, and the results of its operations for the period indicated.

 

3.04  Tax Returns. Within the times and in the manner prescribed by law, ACQUIRED COMPANY has filed all federal, state, and local tax returns required by law. ACQUIRED COMPANY has paid, or will pay by the Closing, all taxes, assessments, and penalties due and payable. There are no present disputes as to taxes of any nature payable by ACQUIRED COMPANY as of the Closing, and there shall be no taxes of any kind due or owing.

 

3.05  Ability to Carry Out Obligations. ACQUIRED COMPANY has the right, power, and authority to enter into and perform its obligations under this Agreement. The execution and delivery of this Agreement by ACQUIRED COMPANY and the performance by ACQUIRED COMPANY of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation or any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument to which ACQUIRED COMPANY is a party or by which they may be bound, nor will any consents or authorizations of any party other than those hereto be required or (c) an event that would result in the creation or imposition of any lien, charge, or encumbrance on any asset of ACQUIRED COMPANY or upon the Shares.

 

3.06  Full Disclosure. None of the representations and warranties made in this Agreement by ACQUIRED COMPANY, or on behalf of ACQUIRED COMPANY, contains or will contain any untrue statement of a material fact or omit any material fact the omission of which would be misleading.

 

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3.07  Compliance with Laws. ACQUIRED COMPANY has complied with all, and is not in violation of any, federal, state, or local statute, law, or regulation. ACQUIRED COMPANY has complied with all federal and state securities laws in connection with the offer, sale and distribution of its securities. The ACQUIRED COMPANY will not be in violation of any term of the ACQUIRED COMPANY’s Articles or Bylaws, nor will the ACQUIRED COMPANY be in violation of or in default in any material respect under the terms of any mortgage, indenture, contract, agreement, instrument, judgment, or decree, the violation of which would have a material adverse effect on the ACQUIRED COMPANY as a whole, and to the knowledge of the ACQUIRED COMPANY, is not in violation of which would have a material adverse effect of the ACQUIRED COMPANY. The execution, delivery and performance of and compliance with this Agreement and the issuance and sale of the Shares will not (a) result in any such violation, or (b) be in conflict with or constitute a default under any such term, or (c) result in the creation of any mortgage, pledge, lien, encumbrance or change upon any of the properties or assets of the ACQUIRED COMPANY pursuant to any such term

 

3.08 Title to Equity. Seller is the sole record and beneficial owner of the Equity of the ACQUIRED COMPANY and has sole dispositive authority with respect to the Equity of the ACQUIRED COMPANY. Seller has not granted any person a proxy with respect to the Equity of the ACQUIRED COMPANY that has not expired or been validly withdrawn. The sale and delivery of the Equity to Buyer pursuant to this Agreement will vest in Buyer legal and valid title to the Equity of the ACQUIRED COMPANY, free and clear of all liens, security interests, adverse claims or other encumbrances of any character whatsoever (“Encumbrances”) (other than Encumbrances created by Buyer and restrictions on resales of the Equity under applicable securities laws).

 

3.09 Organization and Standing. ACQUIRED COMPANY is and will be a limited company duly organized, validly existing, and in good standing under the laws of the Commonwealth of Dominica and will have all requisite corporate power and authority to carry on its business as proposed to be conducted.

 

3.10  Litigation. ACQUIRED COMPANY is not a party to any suit, action, arbitration, or legal, administrative, or other proceeding or pending governmental investigation. To the best of ACQUIRED COMPANY’s knowledge, there is no basis for any such action or proceeding, and no such action or proceeding is threatened against ACQUIRED COMPANY. ACQUIRED COMPANY is not subject to or in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality.

 

3.11  Conduct of Business. Prior to the Closing, ACQUIRED COMPANY shall not (i) amend its Certificate of Incorporation or Bylaws, (ii) declare dividends or redeem or sell stock or other securities, except as part of completing this transaction, (iii) incur any material liabilities, (iv) acquire any assets, enter into any contract, or guarantee obligations of any third party, or (v) enter into any other transaction without notification in writing to the Company.

 

3.12 Truth of Representations. All of these representations shall be true as of the Closing and shall survive the Closing for a period of one year.

 

ARTICLE IV

THE CLOSING

 

4.01  Closing. The Closing of this transaction will occur when all of the documents and consideration described below have been delivered to each party. Unless the Closing of this transaction takes place by May __, 2020, or such other date mutually agreed to, either party may terminate this Agreement.

 

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4.02 Conditions to Closing. The obligations of the Buyer to purchase the Shares at the Closing are subject to the fulfillment to its satisfaction, on or prior to the Closing, of the following conditions, any of which may be waived in accordance with the provisions of subsection 6.12 hereof.

 

a. Representations and Warranties Correct; Performance of Obligations. The representations and warranties made by ACQUIRED COMPANY and Seller in Section 3 hereof shall be true and correct when made and at the Closing. ACQUIRED COMPANY’s business and assets shall not have been adversely affected in any material way prior to the Closing. ACQUIRED COMPANY shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing.

 

b.  Consents and Waivers. The ACQUIRED COMPANY shall have obtained in a timely fashion and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by this Agreement.

 

c. Regulatory Approval. The applicable regulatory body in the Commonwealth of Dominica shall have provided written per-approval of the transfer of ownership of the Equity from Thomas A. Shaetti to the Company

 

4.02 Documents to be Delivered at Closing. The following documents, in form reasonably acceptable to the parties, shall be delivered:

 

4.02.1 Document to be Delivered by Company:

 

(i) Board Resolutions approving this transaction and the issuance of the Common Shares.
     
(ii) One Hundred Twenty-Six Thousand Two Hundred Twenty-Two (126,222) restricted Common Shares of Migom Global Corp. (OTC.PK: MGOM) to Seller

 

4.02.2 Document to be Delivered by ACQUIRED COMPANY and Seller:

 

(iii) Resolutions approving this transaction.
     
(iv) Documentation for the transfer of the Equity to the Company

 

ARTICLE V

REMEDIES

 

5.01  Arbitration. Any controversy or claim arising out of, or relating to, this Agreement, or the making, performance, or interpretation thereof, shall be settled by arbitration in Nevada, in accordance with the Rules of the American Arbitration Association then existing, and judgment on the arbitration award may be entered in any court having jurisdiction over the subject matter of the controversy.

 

5.02 Payment Default Clause. Failure or delay to complete any payment or exchange within thirty (30) days of the closing of this definitive Agreement, as described in Article 1.02 of this Agreement, shall result in the termination of this Agreement. Upon such termination, all shares exchanged will be returned to the original parties, where each party will bear its own cost in reversion.

 

5.03 [Intentionally Omitted]

 

5.04 Other Remedies. The forgoing indemnification provision is in addition to, and not derogation of, any statutory, equitable or common law remedy any party may have for breach of representation, warranty, covenant or agreement.

 

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ARTICLE VI

MISCELLANEOUS

 

6.01  Captions and Headings. The article and paragraph headings throughout this Agreement are for convenience and reference only, and shall in no way be deemed to define, limit, or add to the meaning of any provision of this Agreement.

 

6.02  No Oral Change. This Agreement and any provision hereof may not be waived, changed, modified, or discharged orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, or discharge is sought.

 

6.03  Non-Waiver. Except as otherwise expressly provided herein, no waiver of any covenant, condition, or provision of this Agreement shall be deemed to have been made unless expressly in writing and signed by the party against whom such waiver is charged; and (i) the failure of any party to insist in any one or more cases upon the performance of any of the provisions, covenants, or conditions of this Agreement or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of any such provisions, covenants, or conditions, (ii) the acceptance of performance of anything required by this Agreement to be performed with knowledge of the breach or failure of a covenant, condition, or provision hereof shall not be deemed a waiver of such breach or failure, and (iii) no waiver by any party of one breach by another party shall be construed as a waiver with respect to any other or subsequent breach.

 

6.04  Entire Agreement. This Agreement, including any and all attachments hereto, if any, contains the entire Agreement and understanding between the parties hereto and supersedes all prior agreements and understandings, whether written or oral.

 

6.05  Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile signatures will be acceptable to all parties as originals.

 

6.06  Notices. All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given, or on the third day after mailing if mailed to the party to whom notice is to be given, by first class mail, registered or certified, postage prepaid, or on the second day if faxed, and properly addressed or faxed as follows:

 

If to ACQUIRED COMPANY:

Thomas A. Schaetti

Migom Bank Ltd.

75 Hillsboro Str., 2nd Floor

Roseau, Commonwealth of Dominica

 

If to Company:

Georgi Parrik

Migom Global Corp.

1185 Avenue of the Americas, 3rd Floor

New York, NY 10036

 

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6.07  Binding Effect. This Agreement shall inure to and be binding upon the heirs, executors, personal representatives, successors and assigns of each of the parties to this Agreement.

 

6.08  Effect of Closing. All representations, warranties, covenants, and agreements of the parties contained in this Agreement, or in any instrument, certificate, opinion, or other writing provided for in it, shall be true and correct as of the closing and shall survive the Closing of this Agreement for a period of one year.

 

6.09  Mutual Cooperation. The parties hereto shall cooperate with each other to achieve the purpose of this Agreement, and shall execute such other and further documents and take such other and further actions as may be necessary or convenient to affect the transaction described herein.

 

6.10 Counterpart Signatures. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature page were an original thereof.

 

6.11 Severability. In case any one or more of the provisions of this Agreement shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision, which shall be a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement.

 

6.12  Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of Seller and the Buyer. No delay or omission to exercise any right, power, or remedy accruing to Buyer, upon any breach, default or noncompliance of Seller under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. All remedies, either under this Agreement, by law, or otherwise afforded to Buyer, shall be cumulative and not alternative.

 

6.13  Further Assurances. From and after the date of this Agreement, upon the request of the Buyer or Seller, Buyer and Seller shall execute and deliver such instruments, documents or other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

 

6.14 Finder’s Fees and Other Fees.

 

a. The ACQUIRED COMPANY (i) represents and warrants that it has retained no finder or broker in connection with the transactions contemplated by this Agreement, and (ii) hereby agrees to indemnify and to hold Buyer harmless from and against any liability for commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability) for which the ACQUIRED COMPANY, or any of its employees or representatives, is responsible.

 

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b. The Buyer (i) represents and warrants that the Buyer has retained no finder or broker in connection with the transactions contemplated by the Agreement, and (ii) hereby agrees to indemnify and to hold the ACQUIRED COMPANY harmless from and against any liability for any commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or assessed liability) for which such Buyer is responsible.

 

c. The Seller (i) represents and warrants that the Seller has retained no finder or broker in connection with the transactions contemplated by the Agreement, and (ii) hereby agrees to indemnify and to hold the ACQUIRED COMPANY harmless from and against any liability for any commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or assessed liability) for which such Seller is responsible.

 

6.15 Attorneys. All parties acknowledge and agree that: (a) the parties are executing this Agreement voluntarily and without any duress or undue influence; (b) the parties have carefully read this Agreement and have asked any questions needed to understand the terms, consequences, and binding effect of this Agreement and fully understand them; and (c) the parties have sought the advice of an attorney of their respective choice if so desired prior to signing this Agreement.

 

6.16 Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Nevada, without regard to the conflicts of laws principles thereof, and shall be binding, upon the parties hereto and their respective successors and assigns.

 

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In witness whereof, this Agreement has been duly executed by the parties hereto as of the date first above written.

 

Signatures:  
   
MIGOM GLOBAL CORP.  
   
By: /s/ Georgi Parrik  
Name:  Georgi Parrik  
Title: Chief Executive Officer  
   
MIGOM BANK LTD.  
   
By: /s/ Thomas A. Schaetti  
Name: Thomas A. Schaetti  
Title: President  
   
THOMAS A. SCHAETTI  
   
/s/ Thomas A. Shaetti  

 

 

Page 10 of 10

 

 

Exhibit 10.2

 

Acquisition AGREEMENT

 

This Acquisition Agreement (“Agreement”) made on this 12th day of May 2020, by Migom Global Corp., a public corporation organized under the laws of Nevada (the "Company" or “Buyer”), with its principal place of business at 1185 Avenue of the Americas, 3rd Floor, New York, NY 10036 and Central Rich Trading Ltd. (“ACQUIRED COMPANY”), a money services limited company organized under the laws of Hong Kong, with its principal place of business at Fl8B, 23/F The Galaxy, 313 Castle Peak Road, Kwai Chung, New Territories, Hong Kong, and Thomas A. Schaetti (“Seller”), an address of Dreistaendegasse 38/1 A-1230 Vienna, Austria.

 

Background

 

The Company and ACQUIRED COMPANY desire to enter into a transaction whereby the Company acquires 1 share of ACQUIRED COMPANY, equal to 100% of the equity of ACQUIRED COMPANY (the “Equity”), in exchange for Seventeen Thousand Seven Hundred Seventy-Eight (17,778) restricted shares of common stock, $.001 par value per share (“Common Shares”) of the Company, at a value of $160,000, or $9.00 per share.

 

 

Terms of Agreement

 

In consideration of the mutual promises, covenants and representations contained herein, the parties herewith agree as follows:

 

ARTICLE I

ACQUISITION TERMS

 

1.01  Acquisition. The Company will acquire 100% of the shares of ACQUIRED COMPANY and all preexisting assets as specified in Exhibit A and with all preexisting liabilities, provided such liabilities have been disclosed on the attached Exhibit A. In the event Company should be notified of a preexisting liability which has not been disclosed on Exhibit A, then Seller shall remain liable for such preexisting liability.

 

1.02  Compensation. In exchange, Seller shall receive Seventeen Thousand Seven Hundred Seventy-Eight (17,778) Common Shares of the Company upon the Closing.

 

1.03  Closing. The Closing of this transaction will take place on or before May __, 2020 under the terms described in Article IV of this Agreement, unless mutually extended by the parties. At time of closing Seller agrees to file a Form 8-K for the acquisition and to prepare a “Super” Form 8-K with the condensed and consolidated financial statements of the Company and ACQUIRED COMPANY.

 

1.04  Post-Closing Operations. After the Closing, ACQUIRED COMPANY will be a wholly-owned subsidiary of the Company subject to the terms and conditions outlined in this Agreement. ACQUIRED COMPANY shall be responsible to report to the Company all financial matters and newsworthy events as they materialize, as Seller recognizes Company is a publicly traded company and has certain material obligations of disclosure pursuant to state and federal laws, statutes and regulations.

 

Page 1 of 10

 

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF THE COMPANY/BUYER

 

The Company/Buyer represents and warrants to ACQUIRED COMPANY and Seller the following:

 

2.01  Organization. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the state of Nevada and has all necessary corporate powers to own properties and carry on its business. All actions taken by the incorporators, Directors and/or shareholders of Company have been valid and in accordance with all applicable laws.

 

2.02  Capital. The authorized capital stock of Company consists of 75,000,000 shares of Common Stock, of which approximately 7,345,000 shares are issued and outstanding. All outstanding shares are fully paid and non-assessable, free of liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement. At the Closing, there may be outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating the Company to issue or transfer from treasury any additional shares of its capital stock. None of the outstanding shares of the Company are subject to any stock restriction agreements.

 

2.03  Financial Statements. The unaudited balance sheet as of March 31, 2020 and the audited balance sheet as of December 31, 2019 and the related statements of income and retained earnings for the periods then ended, fairly present the financial position of the Company as of the dates of the balance sheets included in the financial statements, and the results of its operations for the period indicated.

 

2.04  Tax Returns. Within the times, and in the manner prescribed by law, the Company has filed all federal, state, and local tax returns required by law. The Company has paid, or will pay by the Closing, all taxes, assessments, and penalties due and payable. There are no present disputes as to taxes of any nature payable by the Company as of the Closing, and there shall be no taxes of any kind, due or owing.

 

2.05  Ability to Carry Out Obligations. Company has the right, power, and authority to enter into and perform its obligations under this Agreement. The execution and delivery of this Agreement by the Company and the performance by the Company of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation or any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument to which the Company is a party or by which they may be bound, nor will any consents or authorizations of any party other than those hereto be required or (c) an event that would result in the creation or imposition of any lien, charge, or encumbrance on any asset of Company or upon the Shares.

 

2.06  Full Disclosure. None of the representations and warranties made in this Agreement by the Company, or on its behalf, contains or will contain any untrue statement of a material fact or omit any material fact the omission of which would be misleading.

 

2.07  Compliance with Laws. The Company has complied with all, and is not in violation of any, federal, state, or local statute, law, or regulation. The Company has complied with all federal and state securities laws in connection with the offer, sale and distribution of its securities.

 

2.08  Litigation. The Company is not a party to any suit, action, arbitration, or legal, administrative, or other proceeding or pending governmental investigation. To the best of Company’s knowledge, there is no basis for any such action or proceeding, and no such action or proceeding is threatened against the Company. The Company is not subject to, or in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality.

 

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2.09  Conduct of Business. Prior to the Closing, the Company shall not (i) amend its Certificate of Incorporation or Bylaws, (ii) declare dividends or redeem or sell stock or other securities, except as part of completing this transaction, (iii) incur any liabilities, (iv) acquire any assets, enter into any contract, or guarantee obligations of any third party, except for the proposed acquisitions of Migom Bank Ltd., or (v) enter into any other transaction, which is outside the bounds of its customary and ordinary operations, except for the proposed acquisitions of Migom Bank Ltd.

 

2.10  Exempt Transaction. Buyer understands that the offering and sale of the Equity is intended to be exempt from registration under the Act and exempt from registration or qualification under any state law.

 

2.11  Authority. Buyer represents that he has full power and authority to enter into this Agreement. This Agreement has been duly and validly executed and delivered by Buyer, and upon the execution and delivery by Seller of this Agreement and the performance by Seller of its obligations herein, will constitute, a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms, except as such enforcement may be limited by bankruptcy or insolvency laws or other laws affecting enforcement of creditors’ rights or by general principles of equity.

 

2.12  Investment Purpose. The Equity to be purchased by Buyer hereunder will be acquired for investment for Buyer’s own account, not as a nominee or agent, and not with a view to the public resale or distribution thereof, and Buyer has no present intention of selling, granting any participation in, or otherwise distributing the same.

 

2.13  Due Diligence. Buyer has conducted his own due diligence with respect to ACQUIRED COMPANY and its liabilities and believes he has enough information upon which to base an investment decision in the Equity.

 

2.14  Investment Experience. The Buyer understands that the purchase of the Equity involves substantial risk. The Buyer (a) has experience as a Buyer in securities of companies in the development stage and acknowledges that he can bear the economic risk of Buyer’s investment in the Equity and (b) has such knowledge and experience in financial, tax, and business matters so as to enable Buyer to evaluate the merits and risks of an investment in the Equity, to protect Buyer’s own interests in connection with the investment, and to make an informed investment decision with respect thereto.

 

2.15  No Oral Representations. No oral or written representations have been made other than as stated, or in addition to those stated, in this Agreement, and Buyer is not relying on any oral statements made by Seller, or any of Seller's representatives or affiliates, in purchasing the Equity.

 

2.16  Restricted Securities. Buyer understands that the Equity is characterized as “restricted securities” under the Act in as much as they were acquired from the Seller in a transaction not involving a public offering and that under the Act, and applicable regulations thereunder.

 

2.17  Opinion Necessary. Buyer acknowledges that if any transfer of the Equity is proposed to be made in reliance upon an exemption under the Act. Buyer acknowledges that a restrictive legend appears on the Equity and must remain on the Equity until such time as it may be removed under the Act.

 

2.18 Truth of Representations. All these representations shall be true as of the Closing and shall survive the Closing for a period of one year.

 

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ARTICLE III

REPRESENTATIONS AND WARRANTIES OF ACQUIRED COMPANY and SELLER

 

ACQUIRED COMPANY and SELLER represents and warrants to the Company the following:

 

3.01  Organization. ACQUIRED COMPANY is a limited liability company duly organized, validly existing, and in good standing under the laws of Hong Kong and has all necessary corporate powers to own properties and carry on its business. All actions taken by the incorporators, directors and/or shareholders of ACQUIRED COMPANY have been valid and in accordance with all applicable laws.

 

3.02  Capital. The authorized capital of ACQUIRED COMPANY consists of 1,000 shares. All outstanding shares are fully paid and non-assessable, free of liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement. At the Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating ACQUIRED COMPANY to issue or transfer from treasury any additional shares of its capital stock. None of the outstanding shares of ACQUIRED COMPANY are subject to any stock restriction agreements.

 

3.03  Financial Statements. The unaudited balance sheet of as of March 31, 2020 and December 31, 2109, and the related statements of income and retained earnings for the period then ended fairly present the financial position of ACQUIRED COMPANY as of the date of the balance sheet included in the financial statements, and the results of its operations for the period indicated.

 

3.04  Tax Returns. Within the times and in the manner prescribed by law, ACQUIRED COMPANY has filed all federal, state, and local tax returns required by law. ACQUIRED COMPANY has paid, or will pay by the Closing, all taxes, assessments, and penalties due and payable. There are no present disputes as to taxes of any nature payable by ACQUIRED COMPANY as of the Closing, and there shall be no taxes of any kind due or owing.

 

3.05  Ability to Carry Out Obligations. ACQUIRED COMPANY has the right, power, and authority to enter into and perform its obligations under this Agreement. The execution and delivery of this Agreement by ACQUIRED COMPANY and the performance by ACQUIRED COMPANY of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation or any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument to which ACQUIRED COMPANY is a party or by which they may be bound, nor will any consents or authorizations of any party other than those hereto be required or (c) an event that would result in the creation or imposition of any lien, charge, or encumbrance on any asset of ACQUIRED COMPANY or upon the Shares.

 

3.06  Full Disclosure. None of the representations and warranties made in this Agreement by ACQUIRED COMPANY, or on behalf of ACQUIRED COMPANY, contains or will contain any untrue statement of a material fact or omit any material fact the omission of which would be misleading.

 

3.07  Compliance with Laws. ACQUIRED COMPANY has complied with all, and is not in violation of any, federal, state, or local statute, law, or regulation. ACQUIRED COMPANY has complied with all federal and state securities laws in connection with the offer, sale and distribution of its securities. The ACQUIRED COMPANY will not be in violation of any term of the ACQUIRED COMPANY’s Articles or Bylaws, nor will the ACQUIRED COMPANY be in violation of or in default in any material respect under the terms of any mortgage, indenture, contract, agreement, instrument, judgment, or decree, the violation of which would have a material adverse effect on the ACQUIRED COMPANY as a whole, and to the knowledge of the ACQUIRED COMPANY, is not in violation of which would have a material adverse effect of the ACQUIRED COMPANY. The execution, delivery and performance of and compliance with this Agreement and the issuance and sale of the Shares will not (a) result in any such violation, or (b) be in conflict with or constitute a default under any such term, or (c) result in the creation of any mortgage, pledge, lien, encumbrance or change upon any of the properties or assets of the ACQUIRED COMPANY pursuant to any such term

 

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3.08 Title to Equity. Seller is the sole record and beneficial owner of the Equity of the ACQUIRED COMPANY and has sole dispositive authority with respect to the Equity of the ACQUIRED COMPANY. Seller has not granted any person a proxy with respect to the Equity of the ACQUIRED COMPANY that has not expired or been validly withdrawn. The sale and delivery of the Equity to Buyer pursuant to this Agreement will vest in Buyer legal and valid title to the Equity of the ACQUIRED COMPANY, free and clear of all liens, security interests, adverse claims or other encumbrances of any character whatsoever (“Encumbrances”) (other than Encumbrances created by Buyer and restrictions on resales of the Equity under applicable securities laws).

 

3.09 Organization and Standing. ACQUIRED COMPANY is and will be a limited company duly organized, validly existing, and in good standing under the laws of Hong Kong and will have all requisite corporate power and authority to carry on its business as proposed to be conducted.

 

3.10  Litigation. ACQUIRED COMPANY is not a party to any suit, action, arbitration, or legal, administrative, or other proceeding or pending governmental investigation. To the best of ACQUIRED COMPANY’s knowledge, there is no basis for any such action or proceeding, and no such action or proceeding is threatened against ACQUIRED COMPANY. ACQUIRED COMPANY is not subject to or in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality.

 

3.11  Conduct of Business. Prior to the Closing, ACQUIRED COMPANY shall not (i) amend its Certificate of Incorporation or Bylaws, (ii) declare dividends or redeem or sell stock or other securities, except as part of completing this transaction, (iii) incur any material liabilities, (iv) acquire any assets, enter into any contract, or guarantee obligations of any third party, or (v) enter into any other transaction without notification in writing to the Company.

 

3.12 Truth of Representations. All of these representations shall be true as of the Closing and shall survive the Closing for a period of one year.

 

ARTICLE IV

THE CLOSING

 

4.01  Closing. The Closing of this transaction will occur when all of the documents and consideration described below have been delivered to each party. Unless the Closing of this transaction takes place by May __, 2020, or such other date mutually agreed to, either party may terminate this Agreement.

 

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4.02 Conditions to Closing. The obligations of the Buyer to purchase the Shares at the Closing are subject to the fulfillment to its satisfaction, on or prior to the Closing, of the following conditions, any of which may be waived in accordance with the provisions of subsection 6.12 hereof.

 

a. Representations and Warranties Correct; Performance of Obligations. The representations and warranties made by ACQUIRED COMPANY and Seller in Section 3 hereof shall be true and correct when made and at the Closing. ACQUIRED COMPANY’s business and assets shall not have been adversely affected in any material way prior to the Closing. ACQUIRED COMPANY shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing.

 

b.  Consents and Waivers. The ACQUIRED COMPANY shall have obtained in a timely fashion and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by this Agreement.

 

c. Regulatory Approval. The applicable regulatory body in Hong Kong shall have provided written per-approval of the transfer of ownership of the Equity from Thomas A. Shaetti to the Company

 

4.02 Documents to be Delivered at Closing. The following documents, in form reasonably acceptable to the parties, shall be delivered:

 

4.02.1 Document to be Delivered by Company:

 

(i) Board Resolutions approving this transaction and the issuance of the Common Shares.
(ii) Seventeen Thousand Seven Hundred Seventy-Eight (17,778) restricted Common Shares of Migom Global Corp. (OTC.PK: MGOM) to Seller

 

4.02.2 Document to be Delivered by ACQUIRED COMPANY and Seller:

 

(iii) Resolutions approving this transaction.
(iv) Documentation for the transfer of the Equity to the Company

 

ARTICLE V

REMEDIES

 

5.01  Arbitration. Any controversy or claim arising out of, or relating to, this Agreement, or the making, performance, or interpretation thereof, shall be settled by arbitration in Nevada, in accordance with the Rules of the American Arbitration Association then existing, and judgment on the arbitration award may be entered in any court having jurisdiction over the subject matter of the controversy.

 

5.02 Payment Default Clause. Failure or delay to complete any payment or exchange within thirty (30) days of the closing of this definitive Agreement, as described in Article 1.02 of this Agreement, shall result in the termination of this Agreement. Upon such termination, all shares exchanged will be returned to the original parties, where each party will bear its own cost in reversion.

 

5.03 [Intentionally Omitted]

 

5.04 Other Remedies. The forgoing indemnification provision is in addition to, and not derogation of, any statutory, equitable or common law remedy any party may have for breach of representation, warranty, covenant or agreement.

 

Page 6 of 10

 

 

ARTICLE VI

MISCELLANEOUS

 

6.01  Captions and Headings. The article and paragraph headings throughout this Agreement are for convenience and reference only, and shall in no way be deemed to define, limit, or add to the meaning of any provision of this Agreement.

 

6.02  No Oral Change. This Agreement and any provision hereof may not be waived, changed, modified, or discharged orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, or discharge is sought.

 

6.03  Non-Waiver. Except as otherwise expressly provided herein, no waiver of any covenant, condition, or provision of this Agreement shall be deemed to have been made unless expressly in writing and signed by the party against whom such waiver is charged; and (i) the failure of any party to insist in any one or more cases upon the performance of any of the provisions, covenants, or conditions of this Agreement or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of any such provisions, covenants, or conditions, (ii) the acceptance of performance of anything required by this Agreement to be performed with knowledge of the breach or failure of a covenant, condition, or provision hereof shall not be deemed a waiver of such breach or failure, and (iii) no waiver by any party of one breach by another party shall be construed as a waiver with respect to any other or subsequent breach.

 

6.04  Entire Agreement. This Agreement, including any and all attachments hereto, if any, contains the entire Agreement and understanding between the parties hereto and supersedes all prior agreements and understandings, whether written or oral.

 

6.05  Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile signatures will be acceptable to all parties as originals.

 

6.06  Notices. All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given, or on the third day after mailing if mailed to the party to whom notice is to be given, by first class mail, registered or certified, postage prepaid, or on the second day if faxed, and properly addressed or faxed as follows:

 

If to ACQUIRED COMPANY:

Thomas A. Schaetti

Central Rich Trading Ltd.

Fl8B, 23/F The Galaxy

313 Castle Peak Road, Kwai Chung

New Territories, Hong Kong

 

If to Company:

Georgi Parrik

Migom Global Corp.

1185 Avenue of the Americas, 3rd Floor

New York, NY 10036

 

6.07  Binding Effect. This Agreement shall inure to and be binding upon the heirs, executors, personal representatives, successors and assigns of each of the parties to this Agreement.

 

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6.08  Effect of Closing. All representations, warranties, covenants, and agreements of the parties contained in this Agreement, or in any instrument, certificate, opinion, or other writing provided for in it, shall be true and correct as of the closing and shall survive the Closing of this Agreement for a period of one year.

 

6.09  Mutual Cooperation. The parties hereto shall cooperate with each other to achieve the purpose of this Agreement, and shall execute such other and further documents and take such other and further actions as may be necessary or convenient to affect the transaction described herein.

 

6.10 Counterpart Signatures. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature page were an original thereof.

 

6.11 Severability. In case any one or more of the provisions of this Agreement shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision, which shall be a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement.

 

6.12  Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of Seller and the Buyer. No delay or omission to exercise any right, power, or remedy accruing to Buyer, upon any breach, default or noncompliance of Seller under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. All remedies, either under this Agreement, by law, or otherwise afforded to Buyer, shall be cumulative and not alternative.

 

6.13  Further Assurances. From and after the date of this Agreement, upon the request of the Buyer or Seller, Buyer and Seller shall execute and deliver such instruments, documents or other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

 

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6.14 Finder’s Fees and Other Fees.

 

a. The ACQUIRED COMPANY (i) represents and warrants that it has retained no finder or broker in connection with the transactions contemplated by this Agreement, and (ii) hereby agrees to indemnify and to hold Buyer harmless from and against any liability for commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability) for which the ACQUIRED COMPANY, or any of its employees or representatives, is responsible.

 

b. The Buyer (i) represents and warrants that the Buyer has retained no finder or broker in connection with the transactions contemplated by the Agreement, and (ii) hereby agrees to indemnify and to hold the ACQUIRED COMPANY harmless from and against any liability for any commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or assessed liability) for which such Buyer is responsible.

 

c. The Seller (i) represents and warrants that the Seller has retained no finder or broker in connection with the transactions contemplated by the Agreement, and (ii) hereby agrees to indemnify and to hold the ACQUIRED COMPANY harmless from and against any liability for any commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or assessed liability) for which such Seller is responsible.

 

6.15 Attorneys. All parties acknowledge and agree that: (a) the parties are executing this Agreement voluntarily and without any duress or undue influence; (b) the parties have carefully read this Agreement and have asked any questions needed to understand the terms, consequences, and binding effect of this Agreement and fully understand them; and (c) the parties have sought the advice of an attorney of their respective choice if so desired prior to signing this Agreement.

 

6.16 Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Nevada, without regard to the conflicts of laws principles thereof, and shall be binding, upon the parties hereto and their respective successors and assigns.

 

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In witness whereof, this Agreement has been duly executed by the parties hereto as of the date first above written.

 

Signatures:  
     
MIGOM GLOBAL CORP.  
     
By: /s/ Georgi Parrik  
Name: Georgi Parrik  
Title: Chief Executive Officer  
     
CENTRAL RICH TRADING LTD.  
     
By: /s/ Thomas A. Schaetti  
Name: Thomas A. Schaetti  
Title: President  
     
THOMAS A. SCHAETTI  
     
/s/ Thomas A. Schaetti  

 

 

 

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Exhibit 99.1

 

WRITTEN CONSENT OF A MAJORITY OF THE

DIRECTORS OF

MIGOM GLOBAL CORP.

 

THE UNDERSIGNED, being a majority of the directors of Migom Global Corp., a Nevada corporation (the “Corporation”), pursuant to the provisions of the Nevada Revised Statutes, the undersigned does hereby adopt the resolutions set forth below and upon execution of this consent (the “Consent”), the resolutions set forth below shall be deemed to have been adopted to the same extent and to have the same force and effect as those adopted in a formal meeting of the Corporation’s Board of Directors, duly called and held for the purpose of acting upon proposals to adopt such resolutions:

 

WHEREAS, the Board of Directors believes it is in the best interest of the shareholders of the Corporation to appoint Thomas Schaetti as Chief Executive Officer of the Corporation and for Georgi Parrik to remain President of the Corporation.

 

THEREFORE, BE IT RESOLVED, that the Corporation appoint Thomas Schaetti as Chief Executive Officer of the Corporation and that Georgi Parrik remain President of the Corporation.

 

FURTHER RESOLVED, that any and all actions heretofore reasonably taken by or on behalf of the Corporation in the conduct of its business prior to the date hereof are approved, ratified and confirmed in all respects as being the acts and deeds of the Corporation, including any and all actions heretofore made for or on behalf or in the name of the Corporation by any of the Corporation’s officer and directors.

 

FURTHER RESOLVED, that the proper officers of the Company be, and they and each of them hereby are, authorized and empowered, in the name of the Corporation and on its behalf, to do all such further acts and things, and to execute, deliver and file with the appropriate authorities all such further documents, certificates and instruments, as such officers, in their sole discretion, shall determine to be necessary, appropriate or advisable in order to carry out the intent of the foregoing resolutions, any such execution delivery and/or filing by such officers of any such document, certificate or instrument.

 

1

 

 

IN WITNESS WHEREOF, the undersigned director has hereunto set his hands and adopted the above resolutions as of May 14, 2020 and hereby direct that a signed copy of this written consent be filed with the Minutes of the proceedings of the directors of the Corporation.

 

DIRECTORS:  
   
/s/ Georgi Parrik  
Georgi Parrik  
   
/s/ Thomas A. Schaetti  
Thomas A. Schaetti  
   
/s/ Stefan Lenhart  
Stefan Lenhart  

 

 

 

2