Attached files
| file | filename |
|---|---|
| S-1/A - HOME TOUCH S1-A4 - PRIME GLOBAL CAPITAL GROUP Inc | hometouch_s1a4.htm |
| EX-23.1 - CONSENT - PRIME GLOBAL CAPITAL GROUP Inc | hometouch_ex2301.htm |
| EX-10.14 - TERMS OF ORAL AGREEMENT - PRIME GLOBAL CAPITAL GROUP Inc | hometouch_ex1014.htm |
Exhibit 10.15
To: Home
Touch Holding Company
From:
David Gunawan Ng and Stella Wai Yau
Date:
September 19, 2009
This will
confirm the following is true and correct:
Because
the Company was not in a position to meet repayment obligation to these related
companies, Technics Group Limited and Penflow Technology (Asia) Limited, the
forfeiture was granted by the related companies that were controlled by Mr.
David Gunawan Ng and Ms. Stella Wai Yau, the directors of the Company, in
exchange for the additional paid-in capital to the Company. The loans were
forfeited by these entities controlled by the principal shareholders of the
company in order to improve the Company's financial position. However, Mr. David
Gunawan Ng and Ms. Stella Wai Yau, our directors, did not receive any additional
stock or other equity interest from us in exchange for the forfeiture of these
loans. The forfeiture was pursuant to an oral agreement.
This will
confirm that:
|
·
|
There
were no conditions to our foregoing
agreement.
|
|
·
|
We
have personally agreed unconditionally to forfeit the right and any and
all future rights to repayment of the
foregoing.
|
/s/ David Gunawan
Ng
David
Gunawan Ng
/s/ Stella Wai
Yau
Stella
Wai Yau
This will
confirm that this waiver was granted 3/31/2009 and the waiver is
unconditional. The amount of the waiver is $539,394, as
follows:
|
David Gunawan Ng
|
(215,696 | ) | ||
|
Stella
Wai Yau
|
(115 | ) | ||
|
Technics
Group Limited
|
(233,840 | ) | ||
|
Penflow
Technology (Asia) Limited
|
(89,743 | ) | ||
|
TOTAL
|
(539,394 | ) |
/s/ David Gunawan
Ng
David
Gunawan Ng
/s/ Stella Wai
Yau
Stella
Wai Yau