Franklin Towers Enterprises, Inc. Center Barnstead, New Hampshire 03225Franklin Towers Enterprises Inc • November 29th, 2007 • Services-prepackaged software
This Letter of Intent (this “Agreement”) shall set forth our mutual agreement regarding a transaction (the “Transaction”) whereby Franklin Towers Enterprises, Inc. or a wholly-owned subsidiary (the “Buyer”) shall acquire all of the assets of Chongqing Wintus New Star Enterprises Group, Ltd., a limited liability company organized under the laws of the People’s Republic of China (the “Seller”), including without limitation, fixed assets, real estate holdings, intellectual property and 100% of the issued and outstanding capital stock of the companies listed on Exhibit A, attached hereto (hereinafter referred to as the “Business”), in consideration for a purchase price to be mutually agreed upon after the Buyer has completed its due diligence investigation of the Seller and its assets. The purchase price will be payable in cash payments of an amount equivalent to one-third of the aggregate purchase price and in shares of commons stock of the Buyer equivalent to two-thirds of the aggregate
