Amendment to Equity Purchase Agreement dated April 12, 2019 between EVO Transportation & Energy Services, Inc. and Billy (Trey) Peck Jr
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EX-10.62 7 f10k2018ex10-62_evotrans.htm AMENDMENT TO EQUITY PURCHASE AGREEMENT DATED APRIL 12, 2019 BETWEEN EVO TRANSPORTATION & ENERGY SERVICES, INC. AND BILLY (TREY) PECK JR
Exhibit 10.62
Amendment I to the
Equity Purchase Agreement
The Equity Purchase Agreement dated June 1, 2018 is amended as follows:
The attached Exhibit G Working Capital Methodology of ($638,094) is revised to ($1,620,022).
IN WITNESS WHEREO F, the Parties have executed this Amendment on this 12th day of April 2019.
| /s/ Billy Lee Peck Jr. | /s/ Damon Cuzick | |
| Billy Lee Peck, Jr.., Former President and CEO | President | |
| Thunder Ridge Transport, Inc. | EVO Transportation & Energy Services, Inc. |
Exhibit G
Working Capital Methodology
| Target Working Capital | Closing Working Capital | |||||||
| Current Assets | ||||||||
| Accounts Receivable Inventory | $ | 830,835 | $ | 830,835 | ||||
| Other Current Assets | 150,044 | 150,044 | ||||||
| Total Current Assets | $ | 980,879 | $ | 980,879 | ||||
| Current Liabilities | ||||||||
| Accounts Payable | $ | 1,048,596 | $ | 1,048,596 | ||||
| Accrued Payroll | 646,424 | 646,424 | ||||||
| Accrued Vacation | 111,732 | 111,732 | ||||||
| Accrued Expenses | 794,149 | 794,149 | ||||||
| Total Current Liabilities | 2,600,901 | 2,600,901 | ||||||
| Total Working Capital | $ | (1,620,022 | ) | $ | (1,620,022 | ) | ||
