from 10-K/A
1 page
Assignment Agreement This Assignment Agreement Between Mr. Fai H. Chan and Sar Trading Limited, Is Made and Entered Into This 18th Day of June, 1999 by and Between: Fai H. Chan President, Sar Trading Limited Tropic Isle Building P.O. Box 438 Road Town, Tortola British Virgin Islands (Hereinafter "Assignor") and Sar Trading Limited Tropic Isle Building P.O. Box 438 Road Town, Tortola British Virgin Islands (Hereinafter "Assignee") and Powersoft Technologies, Inc. 1088-650 West Georgia Street Po Box 11586 Vancouver, B.C. Canada V6b 4n8 (Hereinafter "Creditor") the Parties Hereto Agree as Follows: 1. the Assignor Has Heretofore Owed a Debt of $1,365,278.00 to Powersoft Technologies, Inc., (Hereinafter "Creditor"), Whose Address Is 1088-650 West Georgia Street, Vancouver, British Columbia V6b 4n8. 2. Assignor Hereby Assigns the $1,365,278.00 Liability to Assignee. <page> 3. Assignee Accepts Said Assignment, Including All the Terms of the Original Contract Between Creditor and Assignor, Which Contract Is Incorporated Herein by Reference. 4. Creditor Agrees to Said Assignment. in Witness Whereof the Parties Hereto Execute This Assignment Agreement, Which Shall Be Effective as of the 18th Day of June, 1999. /S/ Fai H. Chan Fai H. Chan, President Sar Trading Limited /S/ Fai H. Chan Fai H. Chan, Director Sar Trading Limited /S/ Robert H. Trapp Robert H. Trapp, Director Powersoft Technologies, Inc. 2
