Verbal Agreement for Funding of Offering and Reporting Expenses between Clutterbug Move Management, Inc. and Victoria Young
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Summary
Clutterbug Move Management, Inc. and its sole officer and director, Victoria Young, have a verbal agreement under which Ms. Young will provide funding to cover the company's offering, registration, and reporting expenses for at least the next 12 months, or until the company generates enough cash flow to pay these costs itself. There is no written contract, so the company has no legal recourse if Ms. Young does not provide the funds. Once the company is self-sustaining, Ms. Young's obligation ends.
EX-10.2 4 clutterbug_ex102.htm DESCRIPTION OF VERBAL AGREEMENT clutterbug_ex102.htm
EXHIBIT 10.2
Description of Verbal Agreement to Pay for the Offering Expenses, Registration of Common Stock Expenses and Reporting Company Expenses between Clutterbug Move Management, Inc., and Victoria Young
On May 12, 2013 Victoria Young, the sole officer and director of Clutterbug Move Management, Inc., (the “Company” or “we” or “our”) verbally agreed to provide funding to cover the expenses associated with the registration of our common stock, offering expenses and reporting company expenses for the next 12 months and beyond, until the Company is engaged in business activities that provide cash flow sufficient to cover these costs. We currently have no written contractual agreements in place with Ms. Young to provide such funding and as such have no legal recourse if she fails to do so. At this time we do not have all of the necessary funds to pay for these expenses and do not have any written agreement to raise funds to cover these expenses. However, we believe we will be able to meet these costs with funds provided by Ms. Young. At such time that the Company has the ability to cover these expenses with cash flow from operations, Ms. Young will no longer be obligated to cover such costs.
