Exhibit 2.1
ASSET PURCHASE AGREEMENT
THIS AGREEMENT made this twenty-third day of January 2002 by and between Four
J's Enterprises (the "Seller"), and Western Media Group Corporation, a Minnesota
Corporation ("WMGC" or the "Purchaser").
WITNESETH:
In consideration of the mutual covenants hereinafter contained, it is hereby
agreed by and between the parties hereto as follows:
1. Seller shall sell and Purchaser shall purchase, free and clear of all liens,
encumbrances, liabilities and other defects to clear title of the assets of the
Seller, that are listed, described and enumerated on Schedule A, hereto (the
"Assets"), which is attached hereto and by this reference made a part hereof.
2. Purchaser shall pay the Seller as the purchase price for the foregoing, a
consideration payable in 2,000,000 shares (the "Shares") of WMGC common stock,
par value $0.001 per share (the "Common Stock").
3. Seller shall sell, assign, transfer, and convey to Purchaser the Assets, free
and clear of all liens, encumbrances, liabilities and other defects to clear
title.
4. All equipment included in the sale shall be in good working condition at the
time of sale. Purchaser shall accept the Assets "as is" without warranty as to
their condition and operation.
5. Seller is hereby delivering to Purchaser possession of the Assets, and good
and sufficient instruments of transfer, as applicable, conveying and
transferring the Assets to Purchaser. Purchaser shall deliver the shares to
Seller within twenty (20) business days from the date of this Agreement. Seller
hereby covenants and warranties that Seller has good and marketable title in and
to the Assets.
6. Seller covenants, warrants and represents:
(a) Seller is not presently involved in any activity or outstanding dispute with
any taxing authority as to the amount of any taxes due, nor has Seller received
any notice of any deficiency, credit or other indication of deficiency from any
taxing authority.
(b) Seller is the owner of and has good and marketable title to all of the
Assets, free and clear of all liens, encumbrances, liabilities or other defects
to clear title.
(c) The Seller shall indemnify and hold harmless WMGC, its representatives,
successors, subsidiaries, shareholders, partners, predecessors, heirs,
executors, assigns, officers, directors, employees, agents, consultants or
affiliates from any and all claims of its creditors and such Assets shall
transfer to Purchaser, free and clear of all liens, encumbrances, liabilities,
or other defects to clear title. All representations and warranties made by
Seller shall survive the execution of this Agreement and delivery of the Assets.
(d) DISCLOSURE OF INFORMATION. Seller believes it has received or has had full
access to all the information it considers necessary or appropriate to make an
informed investment decision with respect to the Common Stock to be acquired by
the Seller under this Agreement. Seller has had an opportunity to ask questions
and receive answers from the Purchaser regarding the terms and conditions of the
offering of the Common Stock and to obtain additional information (to the extent
the Purchaser possessed such information or could acquire it without
unreasonable effort or expense) necessary to verify any information furnished to
the Seller or to which the Seller had access. Seller has not relied on any oral
representation made by WMGC, its representatives, subsidiaries, shareholders,
partners, predecessors, heirs, executors, assigns, officers, directors,
employees, agents, consultants or affiliates.
(e) INVESTMENT EXPERIENCE. The Seller understands that the acquisition of the
Shares involves substantial risk. The Seller has experience as an investor in
securities of companies in the development stage and acknowledges that it can
bear the economic risk of ownership of the Shares.
(f) INVESTMENT KNOWLEDGE. The Seller, either alone, or with a purchaser
representative, has such knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of acquiring the
Common Stock.
(g) RESTRICTED SECURITIES. The Seller understands that the Shares are
characterized as "restricted securities" under the Securities Act of 1933 (the
"Act") inasmuch as they are being acquired from WMGC in a transaction not
involving a public offering and that under the Act, and applicable regulations
thereunder, such securities may be resold without registration under the Act
only in certain limited circumstances. In this connection, The Seller represents
that it is familiar with Rule 144 and Regulation D of the U.S. Securities and
Exchange Commission, as presently in effect, and understands the resale
limitations imposed thereby and by the Act.
The Seller acknowledges that if any transfer of the Common Stock is proposed to
be made in reliance upon an exemption under the Act, the Purchaser may require
an opinion of counsel satisfactory to the Purchaser that such transfer may be
made pursuant to an applicable exemption under the Act. The Seller acknowledges
that, so long as appropriate, a legend similar to the following may appear on
the certificates representing the Shares:
THESE SHARES HAVE BEEN ISSUED PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933. THE SHARES EVIDENCED BY THIS CERTIFICATE CANNOT BE
TRANSFERRED, OFFERED, OR SOLD UNTIL AFTER _____ (ONE YEAR AFTER COMPLETION OF
THE TRANSACTION).
8. This Agreement shall be binding upon the personal representatives, successors
and assignees of the Parties. This Agreement and any accompanying instruments
and documents include the entire transaction between the Parties and there are
no representations, warranties, covenants or conditions, except those specified
herein or in accompanying instruments and documents.
9. All covenants, warranties and representations herein shall survive this
Agreement and delivery of the Assets.
10. This Agreement constitutes an integration of the entire understanding and
agreement of the Parties with respect to the matters referred to in this
Agreement. Any representation, promise or condition, whether written or oral,
among or between any of the Parties with respect to the matters referred to in
this Agreement which is not specifically incorporated into this Agreement shall
not be binding upon any of the Parties hereto and the Parties acknowledge that
they have not relied, in entering into this Agreement, upon any representations,
promises or conditions not specifically set forth in this Agreement. No prior
oral or written understanding, covenant, or agreement between the Parties with
respect to the matters in this Agreement shall survive the execution of this
Agreement.
11. No supplement, modification, or amendment to this Agreement shall be binding
unless executed in writing by all of the Parties. No waiver of any provision of
this Agreement shall be deemed, or shall constitute, a waiver of any other
provision, whether or not similar, nor shall any waiver constitute a binding
waiver. No waiver shall be binding unless executed in writing by the Parties
making the waiver.
12. This Agreement shall be construed according to its fair meaning as if
prepared by all Parties. This Agreement shall be construed as a severable and
divisible contract. In the event that any portion of this Agreement is found to
be unenforceable by a court, the remaining portions of this Agreement shall
remain valid and enforceable.
-2-
13. Each Party has had the opportunity to, and has received, independent legal
advice from counsel of his or its choice with respect to the advisability of
executing, and with respect to the execution of, this Agreement.
14. This Agreement shall be governed in all respects by the laws of the State of
New York.
IN WITNESS WHEREOF, the Parties have executed this Settlement Agreement as of
the aforementioned date.
4 J'S ENTERPRISES WESTERN MEDIA GROUP CORPORATION
- ------------------------------ -----------------------------
Joseph Lagano Konrad Kim, President
-3-
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MANUFACTURER SERIAL # PART NO DESCRIPTION QUANTITY LABEL CPU MEMORY HD OS PRE
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Generic PC 1 G01 PIII 700 256MB 10GB win2kpro
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Generic PC 1 G02 PIII 700 256MB 10GB win2kpro
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G03 PIII 1000 512MB 20GB win2kserver
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G04 PIII450 128MB
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Generic PC 1 G05 PIII600 256MB 3x3GB win2kpro
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G06 PIII800 256MB 10GB win2kpro
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G07 PIII600 256MB 3x4GB win2kpro
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G08 PIII800 256MB
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G09 PIII600 128MB
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G10 PIII600 256MB 3x8GB win2kserver
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G11 PIII800 256MB 10GB win2kpro
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G12 PIII600 512MB 3x8GB win2kserver
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G13 PIII800 128MB 20GB win2kpro
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G14 PII350 64MB
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G15 P 200 128 500 MB NT 4.0Server
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G16 P 133 64 700 mb NT 4.0Server
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Generic PC 1 G17 P II 64 2.0GB NT 4.0Server
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Generic PC 1 G18 P I 64 4.1GB NT 4.0Server
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G19 P 200 64 O-DRIVE NT 4.0Server
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G20 P II 233 64 4.3GB NT 4.0Server
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G21 P II 233 192 4.3GB NT 4.0Server
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G22 PII400 no-ram 3.4GB NT 4.0WKS G100
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Generic PC 1 G23 P200 96 9,6 win2kpro G102
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Generic PC 1 G24 PII233 128 2,4 NT 4.0Server G103
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G25 PIII600 128 3X8GB NT 4.0Server G104
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 1 G200 P 100 X X X G101
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Generic PC 2 G201 P 100 to 133 X X X
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Generic PC 3 G202 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 4 G203 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 5 G204 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 6 G205 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 7 G206 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 8 G207 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 9 G208 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 10 G209 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 11 G210 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 12 G211 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 13 G212 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 14 G213 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 15 G214 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 16 G215 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 17 G216 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 18 G217 P 100 to 133 X X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generic PC 19 G218 P 100 to 133 X X X
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Generic PC 20 G219 P 100 to 133 X X X
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Generic PC 21 G220 P 100 to 133 X X X
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Compaq 6021DV96K475 PC 1 G20 Celeron II 500 64MB win98se
- ------------------------------------------------------------------------------------------------------------------------------------
Compaq 6021DV96k496 PC 1 G21 Celeron II 500 64MB win98se
- ------------------------------------------------------------------------------------------------------------------------------------
Compaq 6021DV96k459 PC 1 G22 Celeron II 500 64MB win98se
- ------------------------------------------------------------------------------------------------------------------------------------
Compaq 6021DV96k501 PC 1 G23 Celeron II 500 64MB win98se
- ------------------------------------------------------------------------------------------------------------------------------------
Compaq
- ------------------------------------------------------------------------------------------------------------------------------------
Belkin FCNB229635QC KVM Omniview
6port AT WWH093
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Belkin FBNB086237QD KVM Omniview
6port AT WWH095
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Belkin FBPC120525QS KVM Omniview
4port ps2 WWH092
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Belkin FBPC120526QB KVM Omniview
4port ps2 BOX02
- ------------------------------------------------------------------------------------------------------------------------------------
Belkin DCOA173145QB KVM Omniview
4port ps2 WWH091
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3COM 7YDB028974 Superstack II switch HUBC
3000/16 port 10/100
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Ascend 6320103 Pipeline Frame Relay
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Ascend 7345148 Pipeline ISDN
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Ascend 5180476 Pipeline Frame Relay
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Ascend 7415606 Pipeline Frame Relay
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APC NS0005260358 SU620NET Smart UPS 620 hh004
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APC Smart UPS 450 WWH039
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APC 96026784739 Smart UPS 280 WWH0107
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Larscom 410481 Access T45 DS3 WWH078
Network Service
Unit
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Larscom 410544 Access T45 DS3 WWH079
Network Service
Unit
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Belkin DCOA168434QJ KVM Omniview WWH094
4port ps2
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ADC Kentrox 00672984 D-Serv DSU/CSU WWH072
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ADC Kentrox 0071647 D-Serv DSU/CSU WWH073
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ADC Kentrox 00659664 D-Serv DSU/CSU
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Cisco 800-04959-03 2600 WWH076
RTR7
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Cisco 25729741 CiscoPro Access WWH069
Solutions RTR3
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Cisco 25008626 CiscoPro Access WWH070
Solutions RTR2
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3COM 6KZA041461 Superstack II Hub hh010
16 port 100TX
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NEC 0430795YA AccuSync70 17"
Monitor
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NEC 0430795YA AccuSync70 17"
Monitor
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Digiview 2FU15C02448 15" Monitor
- -------------------------------------------------------------------------------------------------------------------------------
Digiview 2FUE6502788 15" Monitor
- ------------------------------------------------------------------------------------------------------------------------------------
Sceptre 005FAKA2000099 17" Monitor WWH052
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SynOptics 2894016 LattisHub 2813 10MB
Managed Hub
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SynOptics 2762516 LattisHub 2813 10MB
Managed Hub
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SynOptics 3098148 LattisHub 2813 10MB
Managed Hub
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SynOptics 31471774 LattisHub 2813 10MB
Managed Hub
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Ortronics 24 port Cat5 WWH068
Punchdown panel
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Lucent 1100CAT5PS 48 port Cat5
Punchdown panel
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HP 5G91060120 J3265A JetDirect500x WWH0114
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7 foot racks 3
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Northern Stand Alone
Telecom NTBX80AA NT1 NTBX80 24
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Northern Stand Alone
Telecom NTBX81AA NT1 Power 9
Supply NTBX81
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Compaq 160782-001 ISA token ring 1
- ---------------------------------------------- -------------------------------------------------------
Compaq Token Ring Token Ring Kit 5
16TR
Controller
- ---------------------------------------------- -------------------------------------------------------
MOD-TAP 27.2f.246.
b001g 1
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MOD-TAP 36.B040G MOD-TAP 100 Pair Block 2
with Mounting Legs
- ------------------------------------------------------------------------------------------------------------------------------------
MOD-TAP 36.B029G MOD-TAP 100 Pair Block 3
with Mounting Legs
- ------------------------------------------------------------------------------------------------------------------------------------
MOD-TAP 36.B028G MOD-TAP 100 Pair Block 2
with Mounting Legs
- ------------------------------------------------------------------------------------------------------------------------------------
MOD-TAP 36.B024G MOD-TAP 100 Pair Block 2
with Mounting Legs
- ------------------------------------------------------------------------------------------------------------------------------------
MOD-TAP 36.B022G MOD-TAP 100 Pair Block 1
with Mounting Legs
- ------------------------------------------------------------------------------------------------------------------------------------
Apple
service 661-0805 Fuser assembly 110/115 1
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Apple
service 661-0370 Power Supply 1
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Digital
Equipment Printer Cleaning unit
Corp. Server Kit Guide 5
20/32 Printer
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Compaq 4a03cw9blb6w 348757 - b21 64 bit 2 channel 1
UltraSCSI All
- ------------------------------------------------------------------------------------------------------------------------------------
Dell OSDPE Strain Relief
Assembly 1
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Apple
service 661-0397 High Res RGB Monitor 1
Power Supply
- ------------------------------------------------------------------------------------------------------------------------------------
Apple
service 661-0370 MAC SE Power Supply 1
- ------------------------------------------------------------------------------------------------------------------------------------
Apple
service 661-0426 DC Controller 1
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MOD-TAP 17-5234-0 Uni-Fit Wall Jack 25
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Computer Ship It
Associates Version 2.0 Software 17
- ----------------- ----------------------------------------------------------------------------------------------------
Apple Service 661-6140 MAC Power Supply 1
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0653 MAC VIDEO card 1
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Apple Service 661-0334 Main Logic Board 1
Apple II GS
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Apple Service 661-0672 MAC Classic II 1
2MB MLB
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0727 Logic Board MAC 1
Quadra 950
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0727 2M Logic Board 1
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-1650 Main DEF BD, 1
MAC CLR DISP
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0398 High Res RGB Monitor 1
Color VID Bd
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0399 High Res RGB Monitor 2
Main Lgc Bd
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-1634 Main Deflection Board 1
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- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 590-0673 Signal Cable 1
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Apple Service 661-0618 Main Deflection 2
BSD 12" RGB Display
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0462 MAC 10v power supply 2
platinum
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0712 Keyboard Powerbook 1
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Apple Service 661-0452 video bd 2-pg mono
monitor 1
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0729 Mac LC/4MB MLB 1
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Apple Service 661-0455 Power supply Apple 1
IIE
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Apple Service 661-0336 Memory Exp. Card 1
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 076-0567 External Battery 1
recharger PWRBK
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Apple Service 630-6272 Flex cable assembly 2
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Lucent DDM-2000 OC3 OC3 Multiplexer 1
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Lucent DDM-2000 OC12 OC12 Multiplexer 1
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Lucent Wp 92311-L6 Fan Shelf
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Lucent J85500R-1 _48V CPS4000/CPS4000 1
PLUS Cabinet Power
System
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Epson 800 Scanner 1
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HP Scan Jet II
CX Scanner 1
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Brothers Intelli Fax
610 Fax Machine 1
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assorted proprietary n/a
software
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 076-0311 Fan Upgrade Kit MAC 6
SE
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Apple Service 815-1240 Battery Cover for 1
Power Book
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Apple Service 661-0161 pcb, logic, clr, 1
stylewriter
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0598 MAC Classic Memory
EXP BD 1
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Apple Service 661-1298 HAD 1gb 2.54 SCSI 1
- ------------------------------------------------------------------------------------------------------------------------------------
Apple Service 661-0629 PCB Main Logic Board 1
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Apple Service 650-0103 Disk II analog card 1
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MOD-TAP 17.2b.017.
b0012 Wall Jack 2 port 126
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MOD-TAP x Wall Jack Module 8
surface Blocks
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AMP x CAT 5 to SERIAL port 23
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Amphenor 117da 15P 4g Dual com port 50
412 40
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Dell Servers 4
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MOD-TAP 15-101-1 Wall jack covers 8
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