Upon execution of the Agreement, the Company paid Linius a non-refundable deposit of $50,000.
Upon satisfaction of the first two conditions precedent listed below, the Company will pay Linius a further $200,000 non-refundable deposit.
At completion of the Acquisition, the consideration to be issued to the Linius Shareholders for the acquisition of their Linius Shares will be:
250,000,000 fully paid ordinary shares in the capital of FIE (a fully paid ordinary share in FIE being a FIE Share) at a deemed issue price of $0.02 per FIE Share; and
200,000,000 performance shares that convert into FIE Shares (on a one for one basis) (Performance Shares) in equal amounts of 50,000,000 on each occasion upon Linius (which, for the purpose of the following provisions means any company in the new Linius group post-Acquisition) achieving the following milestones:
