Oral Loan Agreement between Beijing Yipai-top Communications Technology Co., Ltd. and Beijing Pypo Technology Group Company Limited (March 2009)
Beijing Yipai-top Communications Technology Co., Ltd., a subsidiary of Pypo, provided approximately $0.8 million in cash advances to Beijing Pypo Technology Group Company Limited in March 2009 to help with short-term working capital needs. The advances are unsecured, interest-free, and must be repaid by Pypo Beijing upon request, but no later than September 30, 2009.
Exhibit 10.81
Written description of oral agreement between Beijing Yipai-top Communications
Technology Co., Ltd. and Beijing Pypo Technology Group Company Limited
In March 2009, Beijing Yipai-top Communications Technology Co., Ltd., a then 50% owned subsidiary of Pypo, made cash advances of approximately $0.8 million to Pypo Beijing to meet Pypo Beijing’s short-term working capital needs. These cash advances are unsecured, interest-free obligation and are payable on demand. Pypo Beijing will repay such advances prior to September 30, 2009.
