First Colombia Gold Corp (FCGD)

[linkvest]

Remember Kuldip Singh is the Buyer and Seller here. He is the CEO of both entities. I'm not an attorney but to me this is just attorney mumbo jumbo to satisfy and protect Kuldip Singh. FCGD is not giving any cash for UMMC, It's all Series A Convertible Preferred Stock.

Until full payment has been received by Seller:
(i) Buyer shall not encumber the Merger-Target;
(ii) Buyer shall at all times maintain the property subject to its contracted free and clear to be handed over to the Seller in the present or better condition as received on date of this contract until full payment has been received.
(d) Once Buyer is in charge of the operation, Buyer-Seller shall operate the Merger-Target Company; and (e) Seller shall still be deemed to be the owner of the Merger-Target and the operation of the MergerTarget until payment has been received in full by the Buyer. Seller may enter the premises at
mutually agreed times, but will take back control of premises and exclude the Buyer from the premises only, if an uncured default is established.

The authorized capital stock of the Company consists of 10,000,000,000 shares of common stock, par value $.0001 per share (the "Company Common Stock"), of which 9,781,332,120 shares are issued and outstanding as of the date of this Agreement, and 500 shares of Series A Convertible Preferred Stock, par value $.001 per share, of which 100,000,000,000
board of directors will increase the number of Series A Convertible Preferred Stock it designated and use the Series A Convertible Preferred Stock to make payment to Seller.