Summary of Oral Agreements Between Golden Dragon Enterprises Inc. and Yuan Kun Deng
Contract Categories:
Business Finance
›
Financing Agreements
Summary
Golden Dragon Enterprises Inc. has an oral agreement with its sole officer, director, and shareholder, Yuan Kun Deng. Deng will provide funds to the company as needed until its public offering is completed or fails, with no interest charged and repayment only required when the company has sufficient funds. Additionally, Deng has agreed to cover all reclamation costs on the company's property if no mineralized material is found.
EX-10.2 2 exh102.htm SUMMARY OF AGREEMENT WITH YUAN KUN DENG. exh102.htm
Exhibit 10.2
SUMMARY OF ORAL AGREEMENTS WITH YUAN KUN DENG
Golden Dragon Enterprises Inc. (the “Company”) has an oral agreement with its sole officer, director, and shareholder, Yuan Kun Deng (“Deng”) whereby Deng will advance funds as need until the public offering is completed or fails. The agreement between the Company and Deng is that no interest will be charged on the amounts advanced and the Company only has to repay the amount when it has sufficient funds to do so.
The Company also has an oral agreement with Deng whereby Deng will pay all costs of reclamation on the Company’s property should mineralized material not be found.
