(i) On April 14, 2010, we entered into an agreement with One Bio, Corp. (“One Bio”) pursuant to which, among other things, (i) that certain Amended and Restated Green Planet Preferred Stock Purchase Agreement made effective as of June 17, 2009, between us and One Bio (“Amended and Restated GP Preferred Stock Agreement”) was cancelled, (ii) One Bio returned to us the 5,101shares of our preferred stock that we had issued to One Bio pursuant to the Amended and Restated GP Preferred Stock Agreement, and (iii) we returned to One Bio the 1,004,808 shares of One Bio common stock that had been issued to us pursuant to the Amended and Restated GP Preferred Stock Agreement.
(ii) On April 14, 2010, we granted to One Bio an option to acquire 100% of the stock of Elevated Throne Overseas Ltd. (“Elevated Throne”), our 100% owned BVI subsidiary. In the event One Bio exercises this option, the closing of the transaction will be subject to the approval of our stockholders. As consideration for One Bio’s exercise of this option, One Bio will be required to (i) convert the $1,700,000 loan One Bio made to Elevated Throne on or about January 19, 2010, into an equity investment in Elevated Throne, (ii) convert the $300,000 loan One Bio made to us on or about September 1, 2009, into a $300,000 equity investment in Elevated Throne, (iii) cancel that certain Convertible Note Purchase Agreement between One Bio and us dated on or about September 1, 2009, and (iv) cancel that certain 10% Convertible Bridge Loan Note Due September 1, 2010, in the principal amount of $300,000 from us to One Bio.
