Here is the Asset Purchase Agreement (“APA”) for Dakota Arms as well as the revised Sale Process from the Offering Memorandum. All review of onsite due diligence material must be completed by 3:00 p.m. CST on Wednesday, February 21, 2007. Dakota Arms may be sold as a going concern, and the Company has not set a predetermined valuation for the assets. The revised Sale Process is outlined below.
1. All interested buyers that want to be a Qualified Bidder at the Auction should provide a marked-up copy of the APA and the greater of $200,000 or 10% of the proposed purchase price prior to 3:00 p.m. CST on Wednesday, February 21, 2007.
2. The funds must be provided in the form of a cashiers’ check or wire transfer to the trust account at the law firm of Fredrikson & Byron.
3. All interested buyers are required to provide evidence of financial wherewithal from a U.S. financial institution regarding the ability to consummate a transaction. Notification to Qualified Bidders will be Friday, February 23, 2007.
4. The Auction will take place at 10:00 a.m. CST on Monday, February 26, 2007, at the law firm of Fredrikson & Byron.
5. Interested parties must use attached APA. The marked-up APA should include the following information:
The proposed valuation of all the assets;
Redline of the proposed changes to the form of APA; and Confirmation that all due diligence has been completed and that there are no contingencies.
6. Any party willing to bid on individual assets should submit a marked-up APA.
7. All marked-up copies of the written proposals should be submitted by 3:00 p.m. CST on Wednesday, February 21, 2007
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