Option Exercise Notice for Share Purchase Agreement between China Mobility Solutions, Inc., Hu, Fang, Yu, Bo, and Beijing Di-Ka-Wo Software Development Corp.

Contract Categories: Business Finance › Purchase Agreements
Summary

This notice, dated July 28, 2005, is from China Mobility Solutions, Inc. (CHMS) to Hu, Fang and Yu, Bo, owners of Beijing Di-Ka-Wo Software Development Corp. (Di-Ka-Wo). CHMS is exercising its option under a prior Share Purchase Agreement to buy 49% of Beijing QuickNet Telecommunication Corp. from Hu, Fang and Yu, Bo for $4 million. Di-Ka-Wo agrees to transfer the 49% ownership to Beijing ShiJi RongChuang Technology Development Corp. Payments of $2 million each are due by September 30 and December 31, 2005.

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EX-10.20 2 ex10-20.txt EXHIBIT 10.20 OPTION WRITTEN NOTICE EXHIBIT 10.20 OPTION WRITTEN NOTICE DATE: JULY 28, 2005 BEIJING DI-KA-WO SOFTWARE DEVELOPMENT CORP. ("DI-KA-WO") -- ATTN: HU, FANG AND YU, BO WHEREAS: Hu, Fang and Yu, Bo own 100% of DI-KA-WO; Di-Ka-Wo owns 49% of Beijing QuickNet Telecommunication Corp. Gentlemen: The Undersigned hereby elects to exercise the option according to the "Share Purchase Agreement" between Beijing Quicknet Telecommunication Corp. (hereafter refers to as "QuickNet"), Hu, Fang and Yu, Bo, and China Mobility Solutions, Inc. (previously known as Xin Net Corp. Hereafter refers to as "CHMS") on Feb. 18, 2004 to purchase 49% of ownership of QuickNet from Hu, Fang and Yu, Bo for four million US Dollars. Di-Ka-Wo agrees to transfer 49% ownership of QuickNet to Beijing ShiJi RongChuang Technology Development Corp. immediately. CHMS will make the payment of 2 million US Dollars to Di-Ka-Wo or its appointed party on or before September 30, 2005. CHMS will make the payment of the rest 2 million US Dollars to Di-Ka-Wo or its appointed party on or before December 31, 2005. Very truly yours, /s/ Angela Du - --------------------------- Angela Du, President of China Mobility Solutions, Inc. Accepted by: /s/ Hu, Fang - --------------------------- Hu, Fang, President of Beijing Di-Ka-Wo Software Development Corp. /s/ Yu, Bo - ---------------------------- Yu, Bo, Director of Beijing Di-Ka-Wo Software Development Corp.