SECTION 1 – REGISTRANT’S BUSINESS OBLIGATIONS
Item 1.01 Entry into Material Definitive Agreement
On July 2, 2013, in keeping with our strategy announced at the beginning of 2013, E-Waste Systems, Inc. (“EWSI”), entered into an eManagement Services Agreement (“the Agreement”) with Scoex. SA. De CV, a company incorporated in Mexico having its registered address of business at Misiles l5 202 Lomas del Chamizal, Cuajimalpa de Morelos, 05129 Ciudad de México, D.F. (“Scoex)”).
Scoex is in the technology and supply chain management business and wishes to grow its business as well as enhance the management, accounting, and operations of its business to such high standards that it may potentially become a public company or become attractive to others who may wish to invest in it or acquire it.
Scoex has appointed EWSI as its exclusive Sales Agent and Management Advisor in relation to the current and proposed operations of Scoex’s business in Mexico. The Management Advisor portion of the agreement will allow EWSI to oversee and be specifically responsible for all areas of the management of Scoex, including, but not limited to, exclusive sales agent, overseeing all accounting procedures to make sure they are US GAAP approved, assistance in all areas of human resources, business development, environmental advice, and provide general advice as to the running of the business.
In consideration of the Services provided by EWSI under the agreement, Scoex will pay to EWSI a management services fee (the “Management Services Fee”) during the term of this Agreement, payable each quarter, equivalent to 2.5% (two point five percent) of the Sales, plus expenses.
A copy of the eManagement Services Agreement is attached hereto as Exhibit 10.1 and a copy of the press release of July 2, 2013 is attached hereto as Exhibit 99.1. The foregoing description of the agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 – Financial Statements and Exhibits
(d) EXHIBITS:
Exhibit No. | | Description |
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10.1 | | |
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99.1 | | |