AppSwarm Inc (SWRM)

[CatPuke]

According the ePUNK filings, San West will operate County Imports:
Receive 50% of operating profits. Profits for 2012 were almost 300K with revenues of nearly 2 million. County Imports + Joyride = $$$$$$$$$$$$$



OPERATING AGREEMENT


This Operating Agreement ("Agreement") is made and entered into as of May 28, 2013, and effective as of May 28, 2013, by and between SanWest, Inc., (“Operator”), and ePunk, Inc., a Nevada corporation (“Owner”).

b.
Compensation. As compensation for its operation and management services under this Agreement, Operator will retain 50% of County Imports’ monthly "operating profits" derived from the Business. The calculation of monthly operating profits will be determined based on the financial statements prepared in connection with the Business and applying the calculation criteria set forth on Exhibit A, provided that in all cases each payment will be subject to later adjustment based on the results of any audit conducted for the period subject to that payment. Exhibit A will set forth the items that may be recorded as expenses for purposes of the net profits calculation, including insurance, salaries, costs of goods, leases and the other customary items. Operator will make payment of 50% of the quarterly operating profits calculation to Owner. Payment of each monthly payment will be made by Operator to Owner or Owner to Operator, as the case may be, in cash no later than the 10 th business day of the month following the end of monthly calculation period, and any adjustment payments based on audits will be made in cash no later than the third business day following completion of the audit. The first monthly period will begin on the Commencement Date and will end on May 31, 2014, and subsequent periods will be each month thereafter.