Closing Statement

 

1. Pursuant to the terms and conditions of the Escrow Agreement, entered into this 9th day of April, 2010, by and between JBM, Pace, Buyer and Escrow Agent, the following documents were delivered to the Escrow Agent to be held by it subject to the terms and conditions of said Escrow Agreement.

 

2. Buyer executed and delivered (a) its Promissory Note for $1,750,000 to JBM, and (b) its Promissory Note for $1,950,000 to Pace.

 

3. Buyer has bank wired $150,000 to the account of JBM in the US Bank in Great Falls, Montana.

 

4. Buyer and Pace agreed that the 250,000 shares of stock which Buyer was to have delivered to Pace on April 9, 2010, will be delivered to Pace as soon as the reorganization of Buyer is completed which Buyer expects to occur within the next 3-4 weeks. The stock will be mailed to Pace at:

 

5. Promptly upon receipt from Buyer of funds for JBM and Pace, Escrow Agent will bank wire all of the funds received from Buyer to either JBM or Pace after deducting any bank wire fees or charges incurred. The bank wire instructions for wiring funds to JBM and Pace are as follows:

6.  

Bank wire instructions for funds to be bank wired from Buyer to Escrow Agent are set forth in Exhibit A attached hereto.

7.  

At closing Escrow Agent will be paid a flat one time fee of $800 to set up and service all payments made under the Escrow Agreement. Any bank wire fees or charges incurred will be deducted from the amounts bank wired to JBM and Pace. Recording fees for recording the documents will be paid to Escrow Agent at closing.

8.  

JBM and Buyer agree to amend paragraph 2.a. of the Coal Buy and Sell agreement to give Buyer twenty-four (24) months to complete the drilling and prepare the reserve Study and the Mine Feasibility Study with a Mining Plan (instead of 18 months as presently provided). All other language and provisions in said paragraph 2.a. should remain the same and in full force and effect.

9.  

JBM and Buyer agree to amend paragraph 10.a. of the Coal Buy and Sell Agreement by adding at the end of the last sentence of paragraph 10.a. the following:

10.  

Buyer and Pace agree to amend paragraph 9.a. of the Mineral Buy and Sell Agreement by adding the following sentence at the end of paragraph 9.a.

11.  

Buyer and JBM agree to amend paragraph 10.a. of the Coal Buy and Sell Agreement to provide that if JBM, at its option deems the Coal Agreement terminated, null, void and no further force and effect, at which time Buyer shall have no further rights or liabilities under the Coal Agreement or the Promissory Note issued by Buyer thereunder, and all payments made by Buyer shall be deemed forfeited and non-refundable.

 

12. Buyer and Pace agree to amend paragraph 9.a. of the Mineral Buy and Sell Agreement to provide that if Pace, at his option deems the Mineral Agreement terminated, null, void and no further force and effect, at which time Buyer shall have no further rights or liabilities under the Mineral Agreement or the Promissory Note issued by Buyer thereunder, and all payments made by Buyer shall be deemed forfeited and non-refundable.

By:

BUYER:

Teen Glow Makeup, Inc.

{name change to American Power 'Corp. in process)

By:                                                     

By:

 

By:

 

ACCOUNT NAME

REALTY TITLE COMPANY, INC. TRUST ACCOUNT

 

ORIGINATOR TO BENEFICIARY INFORMATION (OBI) (Field 6000)

 

Please request the receiving Bank notify Realty Title Company upon receipt at ###-###-#### or FAX ###-###-####.