Extension Letter to Stock Purchase Agreement between 11 Good Energy Sciences, Inc. and Sellers' Representative

Summary

This letter agreement extends the Closing Date and Termination Date of the Stock Purchase Agreement dated July 11, 2011, between 11 Good Energy Sciences, Inc. (the Buyer), 11 Good Energy, Inc. (the Parent), Kai BioEnergy Corp. (the Company), and the Company's stockholders, represented by Mario Larach. The new deadline for closing and termination is September 14, 2011. All other terms of the original agreement remain unchanged.

EX-10.5 3 c66869_ex10-5.htm

11 Good Energy Sciences, Inc.

4450 Belden village Street N.W., Suite 800

Canton, OH 44718

 

 

September 9, 2011

 

Mario Larach, as the Sellers’ Representative

3525-723 Del Mar Heights Rd.

San Diego, CA 92130-2122

 

Re: Stock Purchase Agreement dated July 11, 2011 (the “Agreement”), by and among 11 Good Energy, Inc., a Delaware corporation (“Parent”), 11 Good Energy Sciences, Inc, a Delaware corporation and a wholly-owned subsidiary of Parent (“Buyer”), Kai BioEnergy Corp., a Hawaiian corporation (“Company”) and the Company’s stockholders, namely, Mario Larach and Frank Infelise (such stockholders, collectively, the “Sellers”).

 

Gentlemen:

 

Currently, by way of extensions provided for in the letter executed between Buyer and Company on August 31, 2011, the Closing Date in section 2.1 (b) of the above captioned Agreement is September 7, 2011 (the “Closing Date”) and the reference contained in section 8.1(b) of the above captioned Agreement is also September 7, 2011 (the “Termination Date”). This letter shall serve to memorialize our verbal agreement from earlier in the week to provide an extension of the Closing Date and Termination Date until the close of business on September 14, 2011. All other terms and conditions of the Agreement remain unchanged.

 

  11 GOOD ENERGY SCIENCES, INC.
   
  By:  /s/ Gary R. Smith  
  Gary R. Smith, COO
       
  Sellers’ Representative
       
  By:  /s/ Mario Larach  
  Mario Larach, as Seller’s Representative