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Microcap & Penny Stocks : PLNI - Game Over
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To: Jeffrey S. Mitchell who wrote (11034)8/16/2007 7:05:38 PM
From: scion   of 12518
 
More assets of Plasticon which can be recovered if the loan has not yet been repaid. If Semco is profitable then the bankrupt Plasticon should be repaid $30,000.00.

6. The parties hereto further acknowledge that PLNI has made a loan to SDI and USL in the amount of $30,000 which is payable to PLNI and is not part of the Purchase Price (the “PLNI Loan”).

Plasticon International/Inc · 8-K · For 1/1/06 · EX-99

EX-99 3rd "Page" of 19

secinfo.com

2. TERMS AND CONDITIONS OF PURCHASE

2.1 Purchase Price for SDI Shares and USL Interests: The purchase price for the acquisition of the SEMCO Shares will be the total sum of $2,750,000 (the “Purchase Price”) which will be payable as follows:

1.The refundable cash sum of $100,000 (the “Initial Payment “) receipt of which is hereby acknowledged.

2. The cash sum of $550,000 (the “Final Cash Payment”) payable upon the close of escrow for the transaction (the “Escrow”).

3. PLNI shares of restricted common stock with a valuation of $100,000 (the “Share Payment”) payable upon the close of Escrow.

4. Additional cash performance payments as set forth below in Paragraph 2.2 (the “Performance Payment”).

5. In addition to the Purchase Price, the SEMCO Principals and their heirs shall be paid a royalty payment as described below in Paragraph 2.3 below (the “Royalty Payment”).

6. The parties hereto further acknowledge that PLNI has made a loan to SDI and USL in the amount of $30,000 which is payable to PLNI and is not part of the Purchase Price (the “PLNI Loan”).

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