Boston Carriers Inc. (fka BSTN)

[TransAsia Judgment]

Page 36 of 20F

Cancellation date extended from April 4, 2018 to July 30, 2018
If BSTN has not taken delivery, then it implies the transaction was cancelled

https://www.sec.gov/Archives/edgar/data/1174672/000172186818000310/f2sbstn20f041218.htm

In December 2017, we entered into a bareboat charter contract to acquire a 45,950 dwt, 1996 built, drybulk vessel. Pursuant to the bareboat charter contract, we will provide a down payment of $500,000 together with the issuance of 10,000,000 shares of Common Stock, subject to restriction for four years, at a price of $0.05 per share prior to delivery of the vessel and $2,191 per day for five years commencing on the date of delivery of the said vessel. At the conclusion of the five years, the vessel will be fully owned by us without any further payment. The vessel has not yet been delivered to us. On March 7, 2018, we entered into an addendum to the bareboat charter contract, whereby the cancellation date for delivery was extended from April 4, 2018, to July 30, 2018.