Exhibit 10.5
Investment Capital Corporation
7373 E. Doubletree Ranch Road, Suite 200
Scottsdale, AZ 85258
(480) 767-7178 Fax: (480) 767-6179
From the Desk of ...
Terry W. Neild
February 3, 2000
Don Stoecklein
Sperry Young & Stoecklein
1850 East Flamingo Road
Suite 111
Las Vegas, NV 89119
Dear Don:
Re: Merger of White Rock Enterprises Ltd. &
Ises Corporation
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White Rock Enterprises Ltd. currently has 4,896,000 shares outstanding.
White Rock Enterprises Ltd. will acquire Ises Corporation by the issuance of
(fully-diluted) Twenty-Two Million shares (22,000,000) as follows:
Rick Grewell & partners
Preferred Stock convertible into 10,000,000 shares
Restricted 144 shares 10,000,000 "
Pursuit Capital LLC 1,000,000 "
Regency Group Limited, Inc. 1,000,000 "
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Total 22,000,000 "
Original stock including float 4,896,000 "
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Total stock issued after merger (fully-diluted) 26,896,000 "
Stock to be issued for Private Placement 750,000
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27,646,000 shares