UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14C
Information Statement Pursuant to Section 14(c) of the Securities
Exchange Act of 1934
| Check the appropriate box: | ||
| o | Preliminary Information Statement | |
| o | Confidential, for Use of the Commission Only (as permitted by Rule 14a-5(d)(2)) | |
| þ | Definitive Information Statement |
RAPTOR NETWORKS TECHNOLOGY, INC.
| (Name of Registrant as Specified In Its Charter) |
| (Name of Person(s) Filing Proxy Statement, if other than the Registrant) |
Payment of Filing Fee (Check the appropriate box):
| þ | No fee required. | |
| o | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
| (1) | Title of each class of securities to which transaction applies: | ||
| (2) | Aggregate number of securities to which transaction applies: | ||
| (3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | ||
| (4) | Proposed maximum aggregate value of transaction: | ||
| (5) | Total fee paid: | ||
| o | Fee paid previously with preliminary materials. | |
| o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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| (2) | Form, Schedule or Registration Statement No.: | |||
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| (4) | Date Filed: | |||
RAPTOR NETWORKS TECHNOLOGY, INC.
41 Howe Lane
Freehold, NJ 07728
(732) 252-5146
Notice of Action by Written Consent of Shareholders to be Effective May 14, 2012
Dear Stockholder:
Raptor Networks Technology, Inc., a Colorado corporation. (the "Company"), hereby notifies our stockholders of record on January 20, 2012 that stockholders holding approximately 55% of the voting power have approved, by written consent in lieu of a special meeting on January 6, 2012 the following proposals:
| Proposal | 1 | To amend our Restated Articles of Incorporation to increase the number of authorized shares of Common Stock from 200,000,000 to 500,000,000 shares. |
| Proposal | 2 | To amend the Articles of Incorporation to effect a reverse stock split of the common stock, $.001 par value, of the Company by a ratio of one-for-ten. |
| Proposal | 3 | To change the domicile of the Company from Colorado to Wyoming. |
| Proposal | 4 | To change the name of the Company to Mabwe Minerals Inc. |
This Information Statement is first being mailed to our stockholders of record as of the close of business on April 2, 2012. The action contemplated herein will not be effective until May 14, 2012, a date which is at least 20 days after the date on which this Information Statement is first mailed to our stockholders of record. You are urged to read the Information Statement in its entirety for a description of the action taken by the majority stockholders of the Company.
WE ARE NOT ASKING YOU FOR A PROXY AND
YOU ARE REQUESTED NOT TO SEND US A PROXY.
The corporate action is taken by consent of the holders of a majority of the shares outstanding, and pursuant to Colorado law and the Company’s bylaws permit holders of a majority of the voting power to take a stockholder action by written consent. Proxies are not being solicited because stockholders holding approximately 55% of the issued and outstanding voting capital stock of the Company hold more than enough shares to effect the proposed action and have voted in favor of the proposals contained herein.
Exhibit A Articles of Incorporation for Mabwe Minerals Inc.
Exhibit B Bylaws of Mabwe Minerals Inc.
Exhibit C Plan of Merger Between Raptor Networks Technology, Inc. and Mabwe Minerals Inc.
Exhibit D Agreement Dated July 5, 2011 Between Raptor Networks Technology, Inc. and California Capital Equity,LLC
| /s/ Al Pietrangelo | ||
| President and Chief Executive Officer | ||
| 41 Howe Lane | ||
| Freehold, N.J. 07728 | ||
| April 24, 2012 |
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RAPTOR NETWORKS TECHNOLOGY, INC.
41 Howe Lane
Freehold, NJ 07728
INFORMATION STATEMENT
WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY.
General Information
This Information Statement is being furnished to the stockholders of Raptor Networks Technology, Inc., a Colorado corporation (the “Company”), in connection with the adoption of an Amendment to our Restated Articles of Incorporation by written consent of our Board of Directors and the holders of a majority of our issued and outstanding voting securities in lieu of a special meeting. On January 5, 2012 our Board of Directors approved and, on January 6, 2012 the holders of a majority of our voting capital stock approved an amendment to our Restated Articles of Incorporation (the “Amendment”) to provide for the increase of the total number of authorized, issued and outstanding shares of the Company’s common stock, par value $.001 per share (“Common Stock”). We will, when permissible following the expiration of the 20 day period mandated by Rule 14C of the Exchange Act and the provisions of the Colorado Business Corporation Act, file the Amendment with the Colorado Secretary of State’s Office. The Amendment will become effective upon such filing and we anticipate that such filing will occur approximately 20 days after this Information Statement is first mailed to our stockholders.
Voting Securities
As of the date of this information statement, our voting securities consist of our common stock, par value $0.001 per share, of which 198,009,290 shares are outstanding. Approval of the Amendment requires the affirmative consent of a majority of the shares of our Common Stock issued and outstanding at January 20, 2012 (the “Record Date”). The quorum necessary to conduct business of the stockholders consists of a majority of the Common Stock issued and outstanding as of the Record Date.
Stockholders who beneficially own an aggregate of 109,928,311 shares of our Common Stock, or approximately 55% of the total 198,009,290 issued and outstanding shares of Common Stock are the “Consenting Stockholders.” The Consenting Stockholders have the power to vote all of their shares of our Common Stock, which number exceeds the majority of the issued and outstanding shares of our Common Stock on the date of this information statement. The Consenting Stockholders have consented to the proposed action set forth herein and had and have the power to pass the proposed corporate action without the concurrence of any of our other stockholders.
The approval of this action by written consent is made possible by Section 7-107-104 of the Colorado Business Corporation Act, which provides that the written consent of the holders of outstanding shares of voting stock, having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted, may be substituted for such a meeting. In order to eliminate the costs involved in holding a special meeting, our Board of Directors elected to utilize the written consent of the holders of more than a majority of our voting securities.
Pursuant to Section 7-107-104 of the Colorado Business Corporation Act, we are required to provide prompt notice of the taking of the corporate action described above without a meeting of stockholders to all stockholders who did not consent in writing to such action. This Information Statement serves as such notice. This Information Statement will be mailed on or about April 24, 2012 to stockholders of record as of the Record Date, and is being delivered to inform you of the corporate action described herein before such action takes effect in accordance with Rule 14c-2 of the Securities Exchange Act of 1934.
The entire cost of furnishing this Information Statement will be borne by the Company. We will request brokerage houses, nominees, custodians, fiduciaries and other like parties to forward this Information Statement to the beneficial owners of our voting securities held of record by them, and we will reimburse such persons for out-of-pocket expenses incurred in forwarding such material.
Dissenters' Right of Appraisal
The Colorado Business Corporation Act does not provide for dissenter's rights of appraisal in connection with the proposed actions nor have we provided for appraisal rights in our Articles of Incorporation or Bylaws.
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PROPOSAL 1 - AMENDMENT OF OUR ARTICLES OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK FROM 200,000,000 TO 500,000,000
General
Our current Articles of Incorporation, as amended ("Articles of Incorporation") state that the number of authorized shares of Common Stock is limited to 200,000,000 shares. As of April 2, 2012, a total of 198,009,290 shares of Common Stock were issued and outstanding. The Amendment has been adopted to provide us with greater flexibility with respect to our capital structure for such purposes as additional equity financings and future stock based acquisitions.
Our Board of Directors approved, subject to stockholder approval, the Amendment to increase the number of authorized shares of Common Stock to 500,000,000 shares.
Stockholder approval for the Amendment to increase the number of authorized shares was obtained by Written Consent of stockholders holding at least a majority of the voting power of our issued and outstanding Common Stock as of the Record Date. The Amendment for the increase in authorized shares will become effective upon filing of the Amendment promptly following the 20th day after the mailing of this Information Statement to our stockholders as of the Record Date. The substantive text of the proposed Amendment is attached hereto as Appendix A.
Current Use of Shares
As of April 2, 2012, there were:
• 198,009,290 shares of Common Stock outstanding and no shares of preferred stock outstanding; and
• 1,990,710 shares subject to issuance upon the conversion of our outstanding options and warrants; and
Distribution and Costs
We will pay the cost of preparing, printing and distributing this Information Statement.
Potential Anti-takeover Effects of Amendment
Release No. 34-15230 of the staff of the SEC requires disclosure and discussion of the effects of any stockholder proposal that may be used as an anti-takeover device. Although the remainder of significant amounts of authorized shares of common stock could, under certain circumstances, have an anti-takeover effect, the increase in authorized common shares proposal is not being undertaken in response to any effort of which our Board of Directors is aware to accumulate shares of our Common Stock or obtain control of the Company.
Other than this proposal, our Board of Directors does not currently contemplate the adoption of any other amendments to our Articles of Incorporation that could be construed to affect the ability of third parties to take over or change the control of the Company.
Our Articles of Incorporation contain certain provisions that may have anti-takeover effects, making it more difficult for or preventing a third party from acquiring control of the Company or changing its board of directors and management. According to our Articles of Incorporation, the holders of the Company’s common stock do not have cumulative voting rights in the election of our directors. The combination of the present ownership by a few stockholders of a significant portion of the Company’s issued and outstanding common stock and lack of cumulative voting makes it more difficult for other stockholders to replace the Company’s board of directors or for a third party to obtain control of the Company by replacing its board of directors.
Purpose and Effect of the Proposed Amendment
The general purpose and effect of the amendment to the Company's Articles of Incorporation is to authorize 500,000,000 shares of common stock. The reason for the increase in authorized shares of common stock is due, in part to our current insufficiency of authorized shares necessary to meet commitments for share issuances in connection with the Stock Purchase Agreement (the “Stock Purchase Agreement”) effective December 2, 2011 with Lantis Laser Inc. under which we became a majority owned subsidiary of Lantis Laser Inc. We issued 109,928,311 shares of our common stock to give Lantis Laser Inc. 55% ownership of the issued and outstanding shares of our common stock and agreed to issue an additional, 79,078,817 shares of our common stock following a 1:10 reverse split to achieve ownership by Lantis Laser of 90,071,648 shares or 80% of the Company's 112,589,560 issued and outstanding shares of our capital stock. Following the filing of the amendment to our articles of incorporation and the 1:10 reverse split discussed below, we will issue to California Capital Equity 13,510,752 shares of our common stock or 12% of the issued and outstanding shares of our common stock in accordance with the Stock Purchase Agreement. California Capital Equity agreed to convert its remaining debt obligations from us to equity in return for 5,000,000 shares of Lantis Laser Inc. common stock. The Agreement under section 1.4 required that this be the post-split capitalization to induce Lantis Laser Inc. to acquire 80% ownership of us and commence the mining and exploration business that it is engaged in to allow our current shareholders to have an equity stake in an on-going business.
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As we stated in our Form 10-Q for the quarter ended September 30, 2011 that was filed with the SEC on November 18, 2011, we had sold substantially all our assets as a result of past due payments to our senior and junior note holders and were seeking companies or businesses with an interest in utilizing us as a public shell vehicle. Accordingly, we entered into a Stock Purchase Agreement with Lantis Laser Inc. which required that it own 80% of our issued and outstanding shares of common stock. Since we did not want to disturb the ownership of any of our existing holders of common stock we agreed to issue the remaining shares of common stock that were authorized but not issued (109,928,311) and to seek authority from our stockholders through this Information Statement to increase our authorized common stock to allow us to issue the balance of the shares of common stock owed to Lantis Laser Inc. under the Stock Purchase Agreement and to allow additional shares for future stock incentive plans and potential acquisitions and strategic alliances.
The general effect upon the rights of the existing security holders as a result of the increase in common stock is an overall dilution of the Company’s stock and the inherent effects that increasing the Company’s outstanding common stock has on shareholder value based on the dilutive impact of the additional authorized shares. If the Board deems it to be in the best interests of the Company and the stockholders of the Company to issue additional shares of common stock in the future from authorized shares, the Board generally will not seek further authorization by vote of the stockholders, unless such authorization is otherwise required by law or regulations.
PROPOSAL 2 – AMENDMENT TO OUR ARTICLES
OF INCORPORATION
TO EFFECT A REVERSE STOCK SPLIT OF THE COMMON STOCK OF THE COMPANY
Our Board of Directors has unanimously approved and adopted, subject to stockholder approval, an amendment to the Company’s Articles of Incorporation to effect a reverse stock split of the Company’s Common Stock. Pursuant to the proposed Reverse Split, ten outstanding shares of Common Stock will be combined and become one share of Common Stock. (the “Reverse Split”).
As of April 2, 2012, the Company had 198,009,290 shares of Common Stock issued and outstanding. Based on the number of shares currently issued and outstanding, immediately following the Reverse Split the Company would have approximately 19,800,929 shares of Common Stock issued and outstanding (without giving effect to rounding for fractional shares and the issuance of an additional 79,078,817 post-split shares of Common Stock to be issued to Lantis Laser under the Stock Purchase Agreement).
The par value of the Common Stock will not be changed in connection with the Reverse Split. The Board determined that the availability of additional shares was necessary in order for the Company to satisfy existing contractual obligations under the Stock Purchase Agreement and to consummate future financing transactions or business combinations. The availability of additional shares will also permit the Board to issue shares, or instruments convertible into or exercisable for such shares, for general corporate purposes.
When implemented, the Reverse Split will be realized simultaneously and in the same ratio for all shares of the Common Stock. All holders of Common Stock will be affected uniformly by the Reverse Split, which will have no effect on the proportionate holdings of any of our stockholders, except for possible changes due to the treatment of fractional shares resulting from the Reverse Split. In lieu of issuing fractional shares, the Company will round up in the event a stockholder would be entitled to receive less than one share of Common Stock as a result of the Reverse Split. In addition, the split will not affect any holder of Common Stock’s proportionate voting power (subject to the treatment of fractional shares), and all shares of Common Stock will remain fully paid and non-assessable. The number of authorized and issued shares of the Company’s various series of preferred stock will not be affected in any way by the Reverse Split.
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When implemented by the Board, the Reverse Split will be effective upon the filing of a Restated Certificate (the “Restated Certificate”) to the Articles of Incorporation with the Secretary of State of the State of Colorado. The Board of Directors will determine the actual time of filing of the Restated Certificate.
The following chart reflects the changes in our capital structure following the reverse split, the top row reflecting the pre-split capital structure and the bottom row reflecting the post-split capital structure:
| Authorized Shares
of Common Stock | Issued and Outstanding Shares | Reserved but Unissued | Available for Issuance | |||||||||||
| 200,000,000 | 198,009,929 | 1,990,710 | 0 | |||||||||||
| 500,000,000 | 112,390,497 | 1 | 199,071 | 387,410,432 | ||||||||||
(1) Includes 13,510,752 shares to be issued California Capital Equity, LLC ("CCE") in exchange for CCE agreeing to convert the Raptor Networks Technology senior secured notes held by CCE.
Reasons for the Reverse Split
The primary purpose for effecting the Reverse Split is to increase the number of available shares under the Stock Purchase Agreement to allow us to issue to Lantis Laser an additional 79,078,817 shares of our common stock on a post-split basis split to achieve ownership by Lantis Laser of 90,071,648 shares or 80% of the Company's 112,589,560 issued and outstanding shares of our Common Stock on a fully diluted basis.
In determining to authorize the Reverse Split, and in light of the foregoing, our Board of Directors considered, among other things, that in the event that the Company engages in acquisitions or is spun out eventually fewer shares should result in a higher per share price of our Common Stock, which might heighten the interest of the financial community in the Company and potentially broaden the pool of investors that may consider investing in the Company. In theory, the Reverse Split should cause the trading price of a share of our Common Stock after the Reverse Split to be ten times what it would have been if the Reverse Split had not taken place. However, this will not necessarily be the case.
In addition, our Board of Directors considered that as a matter of policy, many institutional investors are prohibited from purchasing stocks below certain minimum price levels. For the same reason, brokers may be reluctant to recommend lower-priced stocks to their clients, or may discourage their clients from purchasing such stocks. Other investors may be dissuaded from purchasing lower-priced stocks because the commissions, as a percentage of the total transaction, tend to be higher for such stocks. Our Board of Directors believes that, to the extent that the price per share of our Common Stock remains at a higher per share price as a result of the Reverse Split, some of these concerns may be ameliorated. The combination of lower transaction costs and increased interest from investors could also have the effect of increasing the liquidity of the Common Stock.
In evaluating whether or not to authorize the Reverse Split, in addition to the considerations described above, our Board of Directors also took into account various negative factors associated with reverse stock splits. These factors include:
| • | the negative perception of reverse stock splits held by some investors, analysts and other stock market participants; |
| • | the fact that the stock price of some companies that have implemented reverse stock splits has subsequently declined back to pre-reverse stock split levels; and |
| • | the adverse effect on liquidity that might be caused by a reduced number of shares outstanding, and the potential concomitant downward pressure decreased liquidity could have on the trading price. |
Also, other factors such as our financial results, market conditions and the market perception of our business may adversely affect the market price of our Common Stock. As a result, there can be no assurance that the price of our Common Stock would be maintained at the per share price in effect immediately following the effective time of the Reverse Split. There also can be no assurance that the total market capitalization of the Company following the Reverse Split will be higher than the market capitalization preceding the split or that an increase in our trading price, if any, would be sufficient to generate investor interest.
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Stockholders should recognize that if the Reverse Split is effected, they will own a fewer number of shares than they currently own (a number equal to the number of shares owned immediately prior to the Reverse Split divided by ten). While we expect that the Reverse Split will result in an increase in the per share price of our Common Stock, the Reverse Split may not increase the per share price of our Common Stock in proportion to the reduction in the number of shares of our Common Stock outstanding. It also may not result in a permanent increase in the per share price, which depends on many factors, including our performance, prospects and other factors that may be unrelated to the number of shares outstanding. The history of similar reverse splits for companies in similar circumstances is varied.
If the Reverse Split is effected and the per share price of our Common Stock declines, the percentage decline as an absolute number and as a percentage of our overall market capitalization may be greater than would occur in the absence of the Reverse Split. Furthermore, the liquidity of our Common Stock could be adversely affected by the reduced number of shares that would be outstanding after the Reverse Split.
In addition, the Reverse Split will likely increase the number of stockholders who own “odd lots” (stock holdings in amounts of less than 100 shares). Stockholders who hold odd lots typically will experience an increase in the cost of selling their shares, as well as possible greater difficulty in effecting such sales. Any reduction in brokerage commissions resulting from the Reverse Split may be offset, in whole or in part, by increased brokerage commissions required to be paid by stockholders selling odd lots created by the split.
Finally, following the Reverse Split the number of authorized but unissued shares of our Common Stock relative to the number of issued shares of our Common Stock will be increased. This increased number of authorized but unissued shares of our Common Stock could be issued by the Board without further stockholder approval, which could result in dilution to the holders of our Common Stock. The increased proportion of unissued authorized shares to issued shares could also, under certain circumstances, have an anti-takeover effect. For example, the issuance of a large block of Common Stock could dilute the ownership of a person seeking to effect a change in the composition of our Board of Directors or contemplating a tender offer or other transaction. The Reverse Split is not being proposed in response to any effort of which the Company is aware to accumulate shares of Common Stock or obtain control of the Company.
Principal Effects of the Reverse Split
General
The Reverse Split will affect all of holders of our Common Stock uniformly and will not change the proportionate equity interests of such stockholders, nor will the respective voting rights and other rights of holders of our Common Stock be altered, except for possible changes due to the treatment of fractional shares resulting from the Reverse Split, as described below.
Exchange Act Matters
Our Common Stock is currently registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and we are subject to the periodic reporting and other requirements of the Exchange Act. The Reverse Split, if implemented, will not affect the registration of our Common Stock under the Exchange Act or our reporting or other requirements thereunder. Our Common Stock is currently traded, and following the Reverse Split will continue to be traded, on the OTCQB under the symbol “________”, subject to our continued satisfaction of the OTCQB listing requirements. Note, however, that the CUSIP number for our Common Stock will change in connection with the Reverse Split and will be reflected on new certificates issued by the Company and in electronic entry systems.
Number of Shares of Common Stock and Number of Stockholders
The Reverse Split would have the following effects on the number of shares of Common Stock:
1. Each ten shares of our Common Stock owned by a stockholder immediately prior to the Reverse Split would become one share of Common Stock after the Reverse Split;
2. All outstanding but unexercised options and warrants entitling the holders thereof to purchase shares of our Common Stock will enable such holders to purchase, upon exercise of their options or warrants, one-tenth of the number of shares of our Common Stock that such holders would have been able to purchase upon exercise of their options or warrants immediately preceding the Reverse Split, at an exercise price equal to ten times the exercise price specified before the Reverse Split, resulting in approximately the same aggregate exercise price being required to be paid upon exercise thereof immediately preceding the Reverse Split; and
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3. The number of shares of our Common Stock reserved for issuance (including the maximum number of shares that may be subject to options) under our stock option plan will be reduced to one-tenth of the number of shares currently included in such plan.
Rounding in Lieu of Issuing Fractional Shares
The Company will not issue fractional shares in connection with the Reverse Split. Instead, the Company will round up to the nearest whole share any stockholder’s share ownership to the extent such stockholder would be entitled to receive less than one share of Common Stock or greater as a result of the Reverse Split.
Accounting Matters
The Reverse Split will not affect total stockholders’ equity on our balance sheet. However, because the par value of our Common Stock will remain unchanged, the components that make up total stockholders’ equity will change by offsetting amounts. As a result of the Reverse Split, the stated capital component attributable to our Common Stock will be reduced to an amount equal to one-tenth of its present amount, and the additional paid-in capital component will be increased by the amount by which the stated capital is reduced. The per share net loss and net book value per share of our Common Stock will be increased as a result of the Reverse Split because there will be fewer shares of our Common Stock outstanding.
Procedure for Effecting the Reverse Split and Filing the Certificate of Amendment
Generally
The Reverse Split and related amendment to the Articles of Incorporation, our Board of Directors will file the Certificate of Amendment effecting the Reverse Split with the Secretary of State of the State of Colorado. The Reverse Split will become effective as of 5:00 p.m. eastern standard time on the date of filing, which time on such date will be referred to as the “effective time.” At the effective time, each ten shares of Common Stock issued and outstanding immediately prior to the effective time will, automatically and without any further action on the part of our stockholders, be combined into and become one share of Common Stock, subject to the treatment for fractional shares described above, and each certificate which, immediately prior to the effective time represented pre-Reverse Split shares, will be deemed cancelled and, for all corporate purposes, will be deemed to evidence ownership of post-Reverse Split shares. However, a stockholder will not be entitled to receive any dividends or distributions payable after the Certificate of Amendment is effective until that stockholder surrenders and exchanges his or her certificates.
First American Stock Transfer Company, Inc., the Company’s transfer agent (the “Transfer Agent”), will act as exchange agent for purposes of implementing the exchange of stock certificates, and is sometimes referred to as the “exchange agent.” As soon as practicable after the effective time, a letter of transmittal will be sent to stockholders of record as of the effective time for purposes of surrendering to the exchange agent certificates representing pre-Reverse Split shares in exchange for certificates representing post-
Reverse Split shares in accordance with the procedures set forth in the letter of transmittal. No new certificates will be issued to a stockholder until such stockholder has surrendered such stockholder’s outstanding certificate(s), together with the properly completed and executed letter of transmittal, to the exchange agent. From and after the effective time, any certificates formerly representing pre-Reverse Split shares which are submitted for transfer, whether pursuant to a sale, other disposition or otherwise, will be exchanged for certificates representing post-Reverse Split shares. STOCKHOLDERS SHOULD NOT DESTROY ANY STOCK CERTIFICATE(S) AND SHOULD NOT SUBMIT ANY CERTIFICATE(S) UNTIL REQUESTED TO DO SO.
In connection with the Reverse Split, our Common Stock will change its current CUSIP number. This new CUSIP number will appear on any new certificates representing post-Reverse Split shares of our Common Stock.
Street Name and Book-Entry Holders
Upon the Reverse Split, the Company intends to treat shares held by stockholders in “street name”, through a bank, broker or other nominee, in the same manner as stockholders whose shares are registered in their own names. Banks, brokers and other nominees will be instructed to effect the Reverse Split for their beneficial holders. These brokers, banks and other nominees may have other procedures for processing the transaction, however, and stockholders holding in street name are encouraged to ask their brokers, banks or other nominees any questions they may have regarding such procedures.
Stockholders who hold some or all of their shares in electronic book-entry form with the Transfer Agent do not have certificates evidencing their ownership and need not take any action to receive their post-Reverse Split shares. Rather, a statement will be sent automatically to any such stockholder’s address of record indicating the effects of the transaction, including the number of shares of Common Stock held following the Reverse Split.
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Certain U.S. Federal Income Tax Consequences
The discussion below is only a summary of certain U.S. federal income tax consequences of the Reverse Split generally applicable to beneficial holders of shares of our Common Stock and does not purport to be a complete discussion of all possible tax consequences. This summary addresses only those stockholders who hold their pre-Reverse Split shares as “capital assets” as defined in the Internal Revenue Code of 1986, as amended (the “Code”), and will hold the post-Reverse Split shares as capital assets. This discussion does not address all U.S. federal income tax considerations that may be relevant to particular stockholders in light of their individual circumstances or to stockholders that are subject to special rules, such as financial institutions, tax-exempt organizations, insurance companies, dealers in securities, and foreign stockholders. The following summary is based upon the provisions of the Code, applicable Treasury Regulations thereunder, judicial decisions and current administrative rulings, as of the date hereof, all of which are subject to change, possibly on a retroactive basis. Tax consequences under state, local, foreign, and other laws are not addressed herein. Each stockholder should consult his, her or its own tax advisor as to the particular facts and circumstances that may be unique to such stockholder and also as to any estate, gift, state, local or foreign tax considerations arising out of the Reverse Split.
The Reverse Split will qualify as a recapitalization for U.S. federal income tax purposes. As a result,
| • | Stockholders should not recognize any gain or loss as a result of the Reverse Split. |
| • | The aggregate basis of a stockholder’s pre-Reverse Split shares will become the aggregate basis of the shares held by such stockholder immediately after the Reverse Split. |
| • | The holding period of the shares owned immediately after the Reverse Split will include the stockholder’s holding period before the Reverse Split. |
The above discussion is not intended or written to be used, and cannot be used by any person, for the purpose of avoiding U.S. Federal tax penalties. It was written solely in connection with the solicitation of stockholder votes with regard to a proposed reverse split of our Common Stock
PROPOSAL 3 – AMENDMENT OF OUR ARTICLES OF INCORPORATION TO CHANGE OUR DOMICILE
The Company has received stockholder approval to amend its Charter to change its place of incorporation from Colorado to Wyoming (the "Domicile Change").
The Domicile Change
The Company intends to change its domicile from Colorado to Wyoming since new management believes that the costs of conducting business will be less expensive in Wyoming and it already has one subsidiary, TAG Minerals Inc., incorporated in Wyoming.
The Company will change its state of incorporation from the State of Colorado to the State of Wyoming by the merger of the Company and a Wyoming corporation established by the Company in Wyoming, Mabwe Minerals Inc. (the "Merger"). The Domicile Change will be accomplished by the filing of (i) Statement of Merger (the “Colorado Statement of Merger”) with the Secretary of State of Colorado, and (ii) Articles of Merger (the “Wyoming Articles of Merger”) with the Secretary of State of Wyoming, by which the surviving corporation will be Mabwe Minerals Inc. Pursuant to the Plan of Merger, each outstanding share of Common Stock , $0.001 par value per share, of Raptor Networks Technology, Inc. (“Colorado Common Stock”) will be converted into one share of common stock, $0.001 par value per share, of the Wyoming Corporation (“Wyoming Common Stock”), and each outstanding and unexercised option, warrant or other right to purchase Colorado Common Stock will become an option, warrant or other right to purchase Wyoming Common Stock on the basis of one share of Wyoming Common Stock for each share of Colorado Common Stock. The Company’s Board of Directors and officers immediately prior to the merger with its wholly-owned subsidiary, Mabwe Minerals Inc., will be the Board of Directors and officers of the surviving entity, or Mabwe Minerals Inc., the Wyoming corporation, immediately following such merger. The Articles of Incorporation and Bylaws of Mabwe Minerals Inc., attached hereto as Exhibits A and B, will become the Articles of Incorporation and Bylaws of the Company. The Domicile Change is being effected so that the change in the Company’s state of incorporation is more closely aligned with its business as now conducted and as contemplated by the Company.
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Effective Date
The Merger will become effective immediately upon the filing of the Colorado Statement of Merger with the Office of the Secretary of State of Colorado and the filing of the Wyoming Articles of Merger with the Office of the Secretary of the State of Wyoming. The filing will be made at least 20 days after the date this Information Statement is first mailed to the Company’s shareholders.
Effects of the Domicile Change
In order to effect the change of domicile described above, the Company will merge with and into its wholly-owned subsidiary, Mabwe Minerals Inc. (the “Change in Domicile Merger”) in accordance with the terms of the Stock Purchase Agreement. The Change in Domicile Merger will have no impact on the business of the Company, its employees or officers. Shareholders who oppose the Change in Domicile Merger do not have any dissenters’ or appraisal rights.
Upon the effectiveness of the Change in Domicile Merger, and giving effect to the change of corporate name:
(i) the Company will be merged with and into its wholly-owned subsidiary, Mabwe Minerals Inc., a Wyoming corporation and the surviving entity, and the Company will cease being governed by Colorado corporation laws;
(ii) the Company’s previous articles of incorporation and the Company’s previous by-laws will be replaced in their entirety with Mabwe Minerals Inc.’s Articles of Incorporation and Mabwe Minerals Inc.’s Bylaws subject to Wyoming law;
(iii) the Company will be named “Mabwe Minerals Inc.”;
(iv) all of the shares of the wholly-owned subsidiary, Mabwe Minerals Inc., outstanding immediately prior to the Change in Domicile Merger will be canceled;
(v) each outstanding (a) share of Colorado Common Stock will be converted into one share of Wyoming Common Stock, and (b) each outstanding and unexercised option, warrant or other right to acquire Colorado Common Stock will become an option, warrant or other right to acquire shares of Wyoming Common Stock;
(vi) each director and officer of the Company immediately preceding the Change in Domicile Merger will be the officers and directors of the Company immediately following the Change in Domicile Merger Colorado continues to hold their respective offices with Wyoming Corporation; and
(vii) the surviving corporation will assume all of the liabilities of the Company.
The Change in Domicile Merger will be consummated in accordance with the Plan of Merger, attached hereto as Exhibit C, under which the Company, a Colorado corporation, will merge with and into its wholly-owned subsidiary, Mabwe Minerals Inc., a Wyoming corporation.
The Change in Domicile Merger will cause:
| (i) | a change in our legal domicile from Colorado to Wyoming; and |
| (ii) | other changes of a legal nature, the material aspects of which are described herein. |
However, the Change in Domicile is not expected to affect any of the Company’s material contracts with any third parties, and the Company’s rights and obligations under such material contractual arrangements continue as rights and obligations of the Company as a Wyoming corporation. The Change in Domicile itself will not result in any change in headquarters, business, jobs, management, location of any of the Company’s offices or facilities, number of employees, assets, liabilities or net worth (other than as a result of the costs incident to the Change in Domicile) of the Company. The Company anticipates that its Common Stock will be quoted under the stock symbol “_____”.
Some Implications of the Change in Domicile
The Plan of Merger provides that the Company (the “Colorado Corporation”) will merge with and into its wholly-owned subsidiary, Mabwe Minerals Inc., with Mabwe Minerals Inc. being the surviving corporation (the “Wyoming Corporation”). Under the Plan of Merger, the Wyoming Corporation will assume all of the assets and liabilities of the Colorado Corporation, and the Colorado Corporation will cease to exist as a corporate entity. The surviving corporation will be named Mabwe Minerals Inc. The directors of the Colorado Corporation will continue as the new directors of the surviving Wyoming Corporation.
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At the effective time of the Change in Domicile Merger, each outstanding shares of the Colorado Corporation, $.001 par value per share, automatically will be converted into one share of common stock of Mabwe Minerals Inc., $.001 par value per share. Shareholders may, but will not be required to exchange their existing stock certificates for stock certificates of Mabwe Minerals Inc. Upon request, we will issue new certificates to any shareholder that holds old Colorado Corporation stock certificates, provided that such holder has surrendered the certificates representing new Wyoming Corporation’s shares in accordance with the Plan of Merger. Any request for new certificates will be subject to normal requirements including proper endorsement, signature, guarantee and payment of any applicable fees and taxes.
Shareholders whose shares of common stock were freely tradable before the Change in Domicile Merger will own shares of the surviving corporation that are freely tradable after the Change in Domicile Merger. Similarly, any shareholders holding securities with transfer restrictions before the Change in Domicile Merger will hold shares of the surviving corporation that have the same transfer restrictions after the Change in Domicile Merger. For purposes of computing the holding period under Rule 144 of the Securities Act of 1933, as amended, shares issued pursuant to the Change in Domicile Merger will be deemed to have been acquired on the date the holder thereof originally acquired the Company’s shares.
After the Change in Domicile, the surviving corporation will continue to be a publicly-held corporation, with its common stock quoted on the OTCQB. The surviving corporation will also file with the Securities and Exchange Commission and provide to its shareholders the same types of information that the Company has previously filed and provided.
Certain Differences Between the Corporate Laws of Colorado and Wyoming
Because of differences between Colorado corporation laws and Wyoming corporation laws, as well as differences between the Company’s governing documents before and after the Change in Domicile Merger, the Change in Domicile Merger will effect certain changes in the rights of the Company’s stockholders. Summarized below are significant provisions of the Colorado Revised Statutes, as amended (the “CRS”), and the Wyoming Business Corporation Act, as amended (the “BCA”), along with the differences between the rights of the stockholders of the Company immediately before and immediately after the Change in Domicile resulting from the differences between the CRS and the BCA and the differences between Colorado Corporation’s articles of incorporation and Colorado Corporation’s by-laws, on the one hand, and the Wyoming Articles of Incorporation and the Wyoming Bylaws, on the other hand. The chart indicates all material changes between the corporate laws of Colorado and Wyoming. The summary below is not an exhaustive list of all differences or a complete description of the differences described, and is qualified in its entirety by reference to the CRS, the BCA, Colorado Corporation’s articles of incorporation, Colorado Corporation’s by-laws, the Wyoming Articles of Incorporation and the Wyoming Bylaws.
| Provision | Colorado law and Colorado Corporation’s governing documents |
Wyoming law and Wyoming Corporation’s governing documents | ||
| ELECTIONS; VOTING; PROCEDURAL MATTERS | ||||
| Number of Directors | Colorado law provides that a corporation must have at least one director and the number of directors must be specified in the corporation’s bylaws. | Wyoming law provides that a corporation must have at least one director and that the number of directors shall be fixed by, or in the manner provided in, the bylaws unless the Articles of Incorporation fixes the number of directors. | ||
| Colorado Corporation’s bylaw provided that the Board of Directors shall consist of at least one member, and not more than five members, and the number of directors may be increased or decreased pursuant to board resolutions and the number of directors shall not be less than one. Subject to this limitation, the number of directors shall be set by a resolution of the board of directors. | The Wyoming Bylaws provide that the board of directors shall consist of not less than one director until changed by a bylaw amendment. The number of directors will be fixed from time to time by a bylaw or amendment duly adopted by the vote of at least a majority of the shares entitled to vote represented at a duly held meeting at which a quorum is present, or by the written consent of a majority of the outstanding shares entitled to vote, or by a vote of at least a majority of directors who constitute the board of directors. | |||
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| Classified Board of Directors | Colorado law permits corporations to classify their boards of directors into two or three groups. At least one-third of the total number of directors of a Colorado corporation must be elected annually | Wyoming law permits any Wyoming corporation to classify its board of directors into as many as three classes with staggered terms of office | ||
| Colorado Corporation did not have a classified board | Wyoming Corporation does not currently have a classified board of directors | |||
| Removal of Directors | Under Colorado law, any one or all of the directors of a corporation may be removed if the votes cast in favor of removal exceed the number cast against removal, unless cumulative voting is in effect, but only at a meeting called for such purpose. Removal can be with or without cause, unless the corporation’s articles of incorporation provide that directors may be removed only for cause | With limited exceptions applicable to directors elected by a voting group of shareholders and if the Articles of Incorporation provide that a director may be removed only for cause, under Wyoming law directors of a corporation may be removed with or without cause, if the number of votes cast to remove the director exceeds the number of votes cast not to remove the director | ||
| Colorado Corporation’s bylaws provided that any director may be removed if the number of votes cast in favor or removal constitute a majority, with or without cause, at a meeting called for such purpose. Colorado Corporation’s articles do not limit a shareholder’s right to vote to remove a director without cause | The Wyoming Articles of Incorporation provides that any director may be removed, with or without cause, at a meeting of stockholders. A vacancy created by removal of a director may be filled by the vote of a majority of the remaining directors then in office or by the vote of at least a majority of the shares present at a special meeting of the shareholders called for such purpose | |||
| Board Action by Written Consent | Colorado law provides that, unless the bylaws provide otherwise, any action required or permitted to be taken at a meeting of the board of directors or of a committee thereof may be taken without a meeting if, before or after the action, a written consent thereto is signed by all the members of the board or committee | Wyoming law provides that, unless the Articles of Incorporation or bylaws provide otherwise, any action required or permitted to be taken at a meeting of the board of directors or of any committee thereof may be taken without a meeting if the requisite number of the members of the board or committee consent thereto in writing or by electronic transmission and the writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the board or committee. The corporation is required to provide notice of any action by written consent to nonvoting or non-consenting directors within ten days after written consents to take an action have been delivered to the corporation | ||
| Colorado Corporation’s articles of incorporation and Colorado Corporation’s bylaws did not change this statutory rule | The Wyoming Articles of Incorporation and the Wyoming Bylaws do not change this statutory rule |
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| Interested Party Transactions | Under Colorado law, a contract or transaction between a corporation and one or more of its directors, or between a corporation and any other corporation, partnership, association, or other organization in which one or more of its directors are directors or officers, or have a financial interest, is not void or voidable solely for that reason, or solely because of such relationship or interest, or solely because the interested director was present, participates or votes at the meeting of the board or committee that authorizes the contract or transaction, if the director’s interest in the contract or transaction is known to the board of directors or stockholders and the transaction is approved or ratified by the board or stockholders in good faith by a vote sufficient for the purpose without counting the vote or votes of the interested director(s), or the contract or transaction is fair to the corporation at the time it is authorized or approved. Colorado law also includes a provision which repeals the above provisions as of the effective date of any federal law that would permit such conflicting interest transactions. | Under Wyoming law, a contract or transaction between a corporation and one or more of its directors or officers, or between a corporation and any other corporation, partnership, association, or other organization in which one or more of its directors or officers are directors or officers, or have a financial interest, is not void or voidable solely because of such relationship or interest, or solely because the director or officer is present at or participates or votes at the meeting of the board or committee that authorizes the contract or transaction, if one or more of the following is true: (i) the material facts of the contract or transaction and the director’s or officer’s relationship or interest are disclosed to or known by the board or committee, and the board or the committee in good faith authorizes the contract or transaction by an affirmative vote of the majority of the qualified directors (even though these directors are less than a quorum); (ii) the material facts of the contract or transaction and the director’s or officer’s relationship or interest are disclosed to or known by the stockholders entitled to vote on the matter and they specifically approve in good faith the contract or transaction; or (iii) the contract or transaction is fair to the corporation as of the time it was authorized, approved or ratified. |
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| Colorado Corporation’s articles of incorporation and bylaws did not place restrictions on interested party transactions in addition to those in the CRS. | The Wyoming Articles of Incorporation and the Wyoming Bylaws do not change this statutory rule. | |||
| Special Meetings of Stockholders | Colorado law provides that special meetings of stockholders are callable by the entire board of directors, a person or persons authorized by the bylaws to call a special meeting of stockholders, or written demand of stockholders holding at least 10% of the votes entitled to be cast on any issue proposed to be considered at the meeting. | Wyoming law permits special meetings of stockholders to be called by the board of directors or by any other persons authorized in the Articles of Incorporation or bylaws to call a special stockholder meeting. | ||
| Colorado Corporation’s bylaws provided that special meetings of the stockholders may be called by the president or the board of directors, or upon receipt of written demand from stockholders holding at least 10% of the votes entitled to be cast on any issue proposed to be considered at the meeting. | The Wyoming Bylaws provide that special meetings of the stockholders may be called by the board of directors, the chair of the board, the chief executive officer, the president, or the secretary at any time. | |||
| Failure to Hold an Annual Meeting of Stockholders | Colorado law provides that if a corporation fails to hold an annual meeting within the earlier of six months after the close of the corporation’s fiscal year or 15 months after the last annual meeting, a Colorado district court may order an election upon the application of any stockholder entitled to participate in the annual meeting or on application of any person who participated in a call or demand for a special meeting, if notice was not provided pursuant to a lawful demand or the special meeting was not held in accordance with the notice. | Wyoming law provides that if a corporation fails to hold an annual meeting at the time stated in or fixed under the corporation's bylaws it shall not affect the validity of any corporate action. Wyoming law states that a director who is not part of a classified board has a terms that expires at the next shareholders meeting at which directors are elected. | ||
| Colorado Corporation’s articles and Colorado Corporation’s bylaws did not change this statutory rule. | The Wyoming Articles of Incorporation and the Wyoming Bylaws do not change this statutory rule. | |||
| Cumulative Voting | Colorado law provides that cumulative voting shall apply in the election of directors unless the articles of incorporation specifically deny the right to cumulate votes in the election of directors. | A Wyoming corporation may provide for cumulative voting in the corporation’s Articles of Incorporation. | ||
| Colorado Corporation had a provision denying cumulative voting rights in the election of its directors in its articles of incorporation. | The Wyoming Articles of Incorporation does not provide for cumulative voting. |
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| Vacancies | All vacancies on the board of directors of a Colorado corporation may be filled by the shareholders, the board of directors, or by a majority of the remaining directors though less than a quorum, unless the articles of incorporation provide otherwise; subject to the proviso, however, that if a vacancy occurs in a directorship that was held by a director elected by a voting group of stockholders, then only the remaining directors elected by the same voting group or the shareholders in that voting group are entitled to vote to fill the vacancy. | All vacancies and newly created directorships on the board of directors of a Wyoming corporation may be filled by the shareholders or a majority of the directors then in office, though less than a quorum, unless the Articles of Incorporation provide otherwise. | ||
| Colorado Corporation’s articles of incorporation and Colorado Corporation’s bylaws provided that all vacancies on the board of directors may be filed by a majority of the directors then in office, though less than a quorum. In the event one or more directors resign from the board of directors, effective at a future date, a majority of the directors then in office, including those that have resigned, to fill the vacancies and to take effect when such resignation or resignations becomes effective. | The Wyoming Bylaws provide that if a vacancy is created by the expansion of the board of directors or by the death, resignation, or removal of a director then, in such cases, the vacancy so created may be filled by the vote of a majority of the remaining directors then in office or by the vote of at least a majority of the shares present at a special meeting of the shareholders called for such purpose. | |||
| Stockholder Voting Provisions |
Under Colorado law, a majority of the voting power, which includes the voting power that is present in person or by proxy, generally constitutes a quorum for the transaction of business at a meeting of stockholders, subject to the proviso that a quorum shall not consist of fewer than one-third of the votes entitled to be cast on the matter by a voting group. Generally, action by the stockholders on a matter other than the election of directors is approved if the number of votes cast in favor of the action exceeds the number of votes cast in opposition to the action, unless otherwise provided in Colorado law or the articles of incorporation. Generally, directors are elected by a plurality of the votes of the shares present in person or represented by proxy at the meeting and entitled to vote on election of directors. Where a separate vote by a class or series is required, a majority of the voting power of the class or series that is present in person or represented by proxy generally constitutes a quorum for the transaction of business. Generally, an act by the stockholders of each class or series is approved if a majority of the voting power of a quorum of the class or series votes for the action. | Under Wyoming law, a majority of the shares entitled to vote, present in person or represented by proxy, generally constitutes a quorum at a meeting of stockholders. Generally, in all matters other than the election of directors, the affirmative vote of the majority of shares present in person or represented by proxy at the meeting and entitled to vote on the subject matter constitutes the act of stockholders. Directors are generally elected by a plurality of the votes of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors. Where a separate vote by a class or series or classes or series is required, a majority of the outstanding shares of such class or series or classes or series, present in person or represented by proxy, generally constitutes a quorum entitled to take action with respect to that vote on that matter and, generally, the affirmative vote of the majority of shares of such class or series or classes or series present in person or represented by proxy constitutes the act of such class or series or classes or series. |
| Colorado Corporation’s articles of incorporation and Colorado Corporation’s bylaws did not change these statutory rules. | The Wyoming Articles of Incorporation and the Wyoming Bylaws do not change these statutory rules. |
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| Stockholder Action by Written Consent |
Colorado law states that if expressly provided for in the articles of incorporation, any action required or permitted to be taken at a meeting of the stockholders may be taken without a meeting if the holders of outstanding stock having at least the minimum number of votes that would be necessary to authorize or take such action at a meeting consent to the action in writing | Under Wyoming law any action required or permitted to be taken at a meeting of the stockholders may be taken without a meeting if the holders of outstanding stock having at least the minimum number of votes that would be necessary to authorize or take such action at a meeting consent to the action in writing. In addition, Wyoming law requires the corporation to give ten days' notice of the taking of corporate action without a meeting by less than unanimous written consent to those non-consenting voting stockholders | ||
| Colorado Corporation’s articles of incorporation did not contain a provision permitting action by stockholders without a meeting if the holders of outstanding stock having at least the minimum number of votes that would be necessary to authorize or take such action at a meeting consent to the action in writing | The Wyoming Articles of Incorporation and the Wyoming Bylaws do not change these statutory rules | |||
| Vote for Mergers and Other Corporate Reorganizations |
In general, Colorado requires authorization by an absolute majority of outstanding shares entitled to vote, as well as approval by the board of directors, with respect to the terms of a merger or a sale of substantially all of the assets of the corporation. So long as the surviving corporation is organized in Colorado, Colorado law does not generally require a stockholder vote of the surviving corporation in a merger if: (a) the plan of merger does not amend the existing articles of incorporation; (b) each share of stock of the surviving corporation outstanding immediately before the effective date of the merger is an identical outstanding share after the merger; (c) the number of voting shares outstanding immediately after the merger, plus the number of voting shares issued as a result of the merger, either by the conversion of securities issued pursuant to the merger or the exercise of rights and warrants issued pursuant to the merger, will not exceed by more than 20 percent the total number of voting shares of the surviving domestic corporation outstanding immediately before the merger; and (d) the number of participating shares outstanding immediately after the merger, plus the number of participating shares issuable as a result of the merger, either by the conversion of securities issued pursuant to the merger or the exercise of rights and warrants issued pursuant to the merger, will not exceed by more than 20 percent the total number of participating shares outstanding immediately before the merger | In general, unless the Articles of Incorporation or the Board of directors require a greater vote, Wyoming law requires authorization by stockholders at a meeting at which a quorum exists, as well as approval by the board of directors, with respect to the terms of a merger or a sale of substantially all of the assets of the corporation. Wyoming law does not generally require a stockholder vote of the surviving corporation in a merger (unless the corporation provides otherwise in its Articles of Incorporation) if: (a) the plan of merger does not amend the existing Articles of Incorporation; (b) each share of stock of the surviving corporation outstanding immediately before the effective date of the merger is an identical outstanding share after the merger; and (c) either no shares of common stock of the surviving corporation and no shares, securities or obligations convertible into such stock are to be issued or delivered under the plan of merger, and the voting power of the shares that are issued and issuable do not exceed 20% of the voting power of the shares of the corporation that are outstanding immediately before the transaction |
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| Colorado Corporation’s articles of incorporation and bylaws did not change these statutory rules. | The Wyoming Articles of Incorporation and the Wyoming Bylaws do not change these statutory rules. | |||
| Dissenters’ Rights of Appraisal; Appraisal Rights |
Dissenting shareholders have the right to obtain the fair value of their shares in comparable circumstances as under the BCA. Under the CRS, a properly dissenting shareholder is entitled to receive the appraised value of the shares owned by the shareholder when the corporation votes to: (i) sell, lease or exchange all or substantially all of its property and assets other than in the regular course of the corporation’s business; (ii) merge or consolidate with another corporation; (iii) participate in a share exchange; or (iv) convert into another entity, subject to certain exceptions. Dissenters’ rights under the CRS are available to both record holders and beneficial holders. | Under the BCA, a dissenting shareholder is entitled to receive the appraised value of the shares owned by the shareholder when the corporation votes to: (i) sell, lease or exchange all or substantially all of its property and assets other than in the regular course of the corporation’s business; (ii) merge or consolidate with another corporation; (iii) participate in a share exchange; or (iv) convert into another entity, subject to certain exceptions. Dissenters’ rights under the CRS are available to both record holders and in limited circumstances to beneficial holders. | ||
| Colorado Corporation’s articles and bylaws did not contain provisions related to dissenters’ rights. | Wyoming Corporation’s Articles of Incorporation and Bylaws do not contain provisions related to appraisal rights. | |||
| Shareholder Rights to Examine Books and Records |
Under the CRS, any record or beneficial shareholder of a corporation may, upon five days’ written demand, inspect certain records, including shareholder actions, minutes of shareholder meetings, communications with shareholders and recent financial statements. In addition, upon five days’ written demand, any such shareholder may inspect the list of shareholders and certain other corporate records, including minutes of the meetings of the board of directors of the corporation, if the shareholder either (i) has been a shareholder for at least three months, or (ii) is a holder of at least 5% of all outstanding shares of any class of shares when the demand is made, provided that the demand is made in good faith for a proper purpose reasonably related to such person’s interests as a shareholder. | Under the BCA, the inspection rights of the stockholders of a corporation are the same as under the CBCA, except a stockholder must have been a shareholder for at least six months and owns at least 5% of all outstanding shares of any class of shares when the demand is made. If a corporation refuses to permit inspection or does not reply to the demand the stockholder may apply to the district court where the corporation's principal office is located or if not located in Wyoming where its registered office is located for an order to compel such inspection. | ||
| Colorado Corporation’s articles and bylaws did not contain provisions related to shareholder rights to examine books and records. | Wyoming Corporation’s Articles of Incorporation and Bylaws do not contain provisions related to shareholder rights to examine books and records. |
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| Amendment or Repeal of Bylaws |
Under the CRS, shareholders may amend the corporation’s bylaws. Unless otherwise specified in the corporation’s articles of incorporation, directors also are permitted to amend the bylaws, other than bylaws establishing greater quorums or voting requirements for shareholders or directors, unless prohibited by the bylaws. Directors may not amend the bylaws to change the quorum or voting requirements for shareholders, and directors may amend the bylaws to change the quorum or voting requirements for directors only if such provision was originally adopted by the directors or if such provision specifies that it may be amended by the directors. | The BCA provides that stockholders may amend the bylaws and, if provided in its Articles of Incorporation, the board of directors also has this power. Under the BCA, stockholders entitled to vote in the election of directors have the power to adopt, amend or repeal bylaws; provided, however, that any corporation may, in its Articles of Incorporation, confer the power to adopt, amend or repeal bylaws upon the directors. | ||
| Colorado Corporation’s bylaws contained provisions related to amendment or repeal of the bylaws by a majority vote of the board of directors. | The Wyoming Articles of Incorporation and the Wyoming Bylaws provide that the bylaws may be adopted, amended or repealed by the board of directors, or (ii) upon the approval of the holders of at least a majority of the outstanding common stock. The stockholders may repeal or amend the bylaws as amended by the board of directors. In addition, the board of directors shall not amend any bylaws fixing the qualifications, classifications or terms of the board of directors. | |||
| Amendment or Repeal of Certificate or Articles of Incorporation |
Under the CRS, amendments to the articles of incorporation, other than ministerial amendments authorized by the board of directors without shareholder action, may be proposed by the board of directors or by the holders of shares representing at least 10% of all of the shares entitled to vote upon the amendment. The board of directors must recommend the amendment to the shareholders unless the amendment is proposed by the shareholders or the board of directors determines that because of a conflict of interest or other special circumstances it should make no recommendation and communicates the basis for its determination to the shareholders with the amendment. |
Under the BCA, stockholders are not entitled to enact an amendment to the Articles of Incorporation without appropriate action taken by the board of directors. Amendments to the Articles of Incorporation generally require that the board of directors adopt a resolution setting forth the amendment, declaring its advisability and submitting it to a vote of the stockholders.
The Wyoming Articles of Incorporation and Bylaws do not change these statutory rules. | ||
| Colorado Corporation’s articles did not contain provisions related to amendments thereof. |
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INDEMNIFICATION OF OFFICERS AND DIRECTORS
AND ADVANCEMENT OF EXPENSES; | ||||
| Indemnification | A corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her if such person met the Standard of Conduct (addressed below). With respect to actions by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation. In addition, no indemnification shall be made with respect to any matters as to which a director is adjudged liable on the basis the director derived an improper personal benefit. |
Permissible Indemnification – Non-Derivative Actions. Under the BCA, a corporation may indemnify an indemnitee who was or is a party to any proceeding against reasonable expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the indemnitee in connection with such proceeding if the indemnitee met the specified Standard of Conduct (addressed below).
Permissive Indemnification – Derivative Actions. In the case of derivative actions, a corporation may indemnify an indemnitee against expenses (including attorneys’ fees), but not amounts paid in settlement, judgments or fines. However, such indemnification is permitted only if the indemnitee met the specified Standard of Conduct (addressed below), except that no indemnification may be made for any claim as to which the indemnitee is adjudged liable to the corporation unless a court determines that, in view of all the circumstances of the case, the indemnitee is fairly and reasonably entitled to indemnity. | ||
| A director or officer who is successful, on the merits or otherwise, in defense of any proceeding subject to the Colorado corporate statutes’ indemnification provisions must be indemnified by the corporation for reasonable expenses incurred in connection therewith. | Mandatory Indemnification. A present or former director or officer of a corporation who is successful, on the merits or otherwise, in defense of any proceeding subject to the BCA’s indemnification provisions must be indemnified by the corporation for reasonable expenses (including attorneys’ fees). | |||
| The CRS also allows a corporation to indemnify an indemnitee who is not a director to a greater extent than specified in the CRS, if not inconsistent with public policy. However, a corporation may only indemnify a director as specified in the CRS. | ||||
| The CRS requires a corporation to provide its shareholders with written notice of any indemnification payments or expense advancements paid to a director on or before the notice of the next shareholder’s meeting after making such payments. | ||||
| Standard of Conduct |
Under the CRS, the “Standard of Conduct” requires that an indemnitee acted (i) in good faith, (ii) in a manner the indemnitee reasonably believed to be, in the case of conduct in the indemnitee’s official capacity, in the best interests of the corporation, and, for all other conduct, at least not opposed to the best interests of the corporation, and (iii) with respect to any criminal action or proceeding, with no reasonable cause to believe the indemnitee’s conduct was unlawful. | Under the BCA, the Standard of Conduct requires that an indemnitee conducted himself in good faith and in a manner the indemnitee reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe the indemnitee’s conduct was unlawful. The determination may be made (i) by a majority vote of the directors who are not parties to such action, suit or proceeding, even though less than a quorum, or (ii) by a committee of such directors designated by majority vote of such directors, even though less than a quorum, or (iii) if there are fewer than two qualified directors, or if such directors so direct, by independent legal counsel in a written opinion, or (iv) by the stockholders. | ||
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| Colorado Corporation’s bylaws provided that the corporation shall, to the fullest extent permitted by applicable law, indemnify each of its directors and officers and each other person who may have acted as a representative of the corporation at its request against any liability and expenses (including attorneys’ fees) incurred in connection with any proceeding, arising by reason of the fact that such person is or was a director, officer, employee, fiduciary or agent of the corporation. | The Wyoming Articles of Incorporation and Bylaws provide that Wyoming Corporation shall indemnify its directors, officers and other agents to the fullest extent authorized by the BCA. The Wyoming Corporation is permitted to modify the extent of such indemnification by individual contracts with its directors, executive officers and other agents. | |||
| Advancement of Expenses |
Under Colorado law, the corporation may pay for or reimburse the reasonable expenses of a director or officer in advance of the final disposition of the action, suit or proceedings upon receipt of a written affirmation of the director’s or officer’s good faith belief that the director or officer met the standard of conduct, the director or officer provides the corporation a written undertaking to repay the advance if it is ultimately determined that he or she is not entitled to be indemnified by the corporation, and a determination is made that the facts then known by the determining party (the entire board, a committee of the board, independent legal counsel, or the shareholders) do not preclude such advances. |
Wyoming law provides that expenses incurred by an officer or director in defending any civil, criminal, administrative or investigative action, suit or proceeding may be paid by the corporation in advance of the final disposition of the action, suit or proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined that he or she is not entitled to be indemnified by the corporation. A Wyoming corporation has the discretion to decide whether or not to advance expenses.
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| Colorado Corporation’s articles of incorporation and Colorado Corporation’s bylaws were consistent with Colorado law. | The Wyoming Bylaws provide that Wyoming Corporation may advance expenses to any officer or director in advance of the final disposition of the proceeding. | |||
| Limitation on Personal Liability of Directors |
If the articles of incorporation so provide, a director of a Colorado corporation cannot be held personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty except where the director breached the duty of loyalty, or engaged in acts or omissions not in good faith or involving intentional misconduct or a knowing violation of law, or authorized distributions not permitted under applicable law, or where the director directly or indirectly obtained an improper personal benefit. |
A Wyoming corporation is permitted to adopt provisions in its Articles of Incorporation limiting or eliminating the liability of a director to a company and its stockholders for monetary damages for breach of fiduciary duty as a director, provided that such liability does not arise from certain proscribed conduct, including breach of the duty of loyalty, acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law or liability to the corporation based on unlawful dividends or distributions or improper personal benefit.
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Colorado Corporation’s articles of incorporation did not provide for elimination of director liability for monetary damages for breach of fiduciary duty except where the director breached the duty of loyalty, or engaged in acts or omissions not in good faith or involving intentional misconduct or a knowing violation of law, authorized distributions not permitted under applicable law, or where the director directly or indirectly obtained an improper personal benefit. | The Wyoming Articles of Incorporation provides that, to the fullest extent permitted by Wyoming law, no director of Wyoming Corporation will be personally liable to Wyoming Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. |
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| ANTI-TAKEOVER STATUTES | ||||
| Business Combination Statute |
The CRS does not contain provisions designed to deter takeovers of public companies, such as a “fair price” statute, “business combination” statute, “control share acquisition” statute or “cash-out” statute. | Under Wyoming law, a corporation that is listed on a national securities exchange or the stock of which is held of record by more than 2,000 stockholders is not permitted to engage in a business combination with any interested stockholder for a three-year period following the time such stockholder became an interested stockholder, unless (i) the transaction resulting in a person becoming an interested stockholder, or the business combination, is approved by the board of directors of the corporation before the person becomes an interested stockholder; (ii) the interested stockholder acquires 85% or more of the outstanding voting stock of the corporation in the same transaction that makes it an interested stockholder (excluding shares owned by persons who are both officers and directors of the corporation, and shares held by certain employee stock ownership plans); or (iii) on or after the date the person becomes an interested stockholder, the business combination is approved by the corporation’s board of directors and by the holders of at least 66 2 /3% of the corporation’s outstanding voting stock at an annual or special meeting (and not by written consent), excluding shares owned by the interested stockholder. Wyoming law defines “interested stockholder” generally as a person who owns 15% or more of the outstanding shares of a corporation’s voting stock. | ||
| These provisions do not apply, among other exceptions, if (i) the corporation’s original Articles of Incorporation contains a provision expressly electing not to be governed by these provisions, or (ii) the corporation, by action of its stockholders, adopts an amendment to its Articles of Incorporation or bylaws expressly electing not to be governed by these provisions. | ||||
| The Wyoming Articles of Incorporation does not opt out of the business combination statutes. However, Wyoming Corporation is not currently subject to these provisions because Wyoming Corporation does not have a class of voting stock that is: (i) listed on a national securities exchange, or (ii) held of record by more than 2,000 stockholders. If Mabwe Minerals Inc. becomes subject to Section 203 in the future, Section 203 of the BCA under certain circumstances may make it more difficult for a person who would be an “interested stockholder” to effect various business combinations with Mabwe Minerals Inc. for a three-year period. The provisions of the Wyoming Management Stability Act may encourage companies interested in acquiring Mabwe Minerals Inc. to negotiate in advance with the Mabwe Minerals Inc. Board of Directors, since the stockholder approval requirement would be avoided if a majority of the directors then in office approve either the business combination or the transaction that results in the stockholder becoming an interested stockholder. |
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| FRANCHISE TAX | ||||
| Franchise Tax | The State of Colorado has no franchise tax. | The State of Wyoming requires corporations, including Mabwe Minerals Inc., to pay an annual franchise tax. | ||
| AUTHORIZED CAPITAL STOCK | ||||
| Authorized Capital Stock |
The Colorado articles authorize 200,000,000 shares of common stock, $.001 par value per share, and 5,000,000 shares of preferred stock, no par value. As of immediately prior to the Change in Domicile Merger, the Company had 198,009,290 shares of common stock and no shares of preferred stock outstanding. | The Wyoming Articles authorizes 500,000,000 shares of common stock, par value $.001 per share, and 5,000,000 shares of preferred stock, no par value. Immediately following the Change in Domicile Merger and Reverse Split, Mabwe Minerals Inc. will have 112,589,560 shares of common stock on a fully diluted basis and no shares of preferred stock outstanding. | ||
The foregoing description is not a complete statement of the rights of our stockholders and our stockholders should refer to the full text of, and decisions interpreting, Wyoming law and Colorado law for a complete understanding of their rights. Many provisions of the CRS and the BCA may be subject to differing interpretations, and the discussion offered herein may be incomplete in certain respects. As a result, the discussion contained herein is not a substitute for direct reference to the CRS and the BCA.
PROPOSAL 4 – AMENDMENT
TO OUR ARTICLES OF INCORPORATION
TO EFFECT A CHANGE OF NAME OF THE COMPANY
The Company will change its name in its new Articles of Incorporation from "Raptor Networks Technology, Inc." to "Mabwe Minerals Inc." since the Company will now be engaged in the exploration and mining of gold and other industrial minerals and will not have any involvement with the historical business of the Company. The Board of the Company has concluded that the name of Mabwe Minerals Inc. more clearly reflects its new focus and future prospects and will help build a brand identity. Accordingly, the Board has concluded that is in the best interests of the Company and its shareholders to amend its charter to change its name to "Mabwe Minerals Inc."
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Lantis Laser Inc. is currently engaged in the exploration and mining of gold and other industrial minerals in Zimbabwe. It acquired control of us to allow it to conduct such exploration and mining activities as part of its business plan to expand its geographic locations for these activities and to acquire other mining properties and attract other mining executives through a number of subsidiaries, one of which is Raptor Networks Technology.
VOTING SECURITIES AND PRINCIPAL STOCKHOLDERS
Our voting securities consist of our Common Stock, par value $0.001 per share, of which 198,009,290 shares are outstanding. The following tables contain information regarding record ownership of our Common Stock as of February 6, 2012 held by:
| • | persons who own beneficially more than 5% of our outstanding voting securities; |
| • | our directors; |
| • | our executive officers; and |
| • | all of our directors and executive officers as a group. |
| Stockholders, Management and Directors | Shares Beneficially Owned | Percentage of Outstanding Shares Owned | ||||||
| Lantis Laser Inc. 41 Howe Lane Freehold, NJ 07728 | 109,928,311 | 1 | 55.0 | % | ||||
| All directors and executive officers as a group (1 person) | 0 | 0 | % | |||||
| (1) | Mr. Al Pietrangelo makes all investment decisions on behalf of Lantis Laser Inc. |
DELIVERY OF DOCUMENTS TO SECURITY HOLDERS SHARING AN ADDRESS
Only one information statement is being delivered to multiple security holders sharing an address unless the Company has received contrary instructions from one or more of its security holders. The Company undertakes to deliver promptly upon written or oral request a separate copy of the information statement to a security holder at a shared address to which a single copy of the documents was delivered and provide instructions as to how a security holder can notify the Company that the security holder wishes to receive a separate copy of an information statement.
Security holders sharing an address and receiving a single copy may request to receive a separate information statement at Raptor Networks Technology, Inc., 41 Howe Lane, Freehold, NJ 07728. Security holders sharing an address can request delivery of a single copy of information statements if they are receiving multiple copies may also request to receive a separate information statement at Raptor Networks Technology, Inc., 41 Howe Lane, Freehold, NJ 07728, telephone: (732) 252-5146.
COMPLIANCE WITH SECTION 16(a) OF THE SECURITIES EXCHANGE ACT OF 1934
Section 16(a) of the Securities Exchange Act of 1934, as amended, requires that our directors and executive officers, and persons who own more than ten percent (10%) of our outstanding Common Stock, file with the Securities and Exchange Commission (the “SEC”) initial reports of ownership and reports of changes in ownership of Common Stock. Such persons are required by the SEC to furnish us with copies of all such reports they file. Specific due dates for such reports have been established by the SEC and we are required to disclose any failure to file reports by such dates. We believe that during the fiscal year ended December 31, 2010, all reports required to be filed pursuant to Section 16(a) were filed on a timely basis.
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WHERE YOU CAN OBTAIN ADDITIONAL INFORMATION
We are required to file annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any document we file at the SEC’s public reference rooms at 100 F Street, N.E, Washington, D.C. 20549. You may also obtain copies of the documents at prescribed rates by writing to the Public Reference Section of the SEC at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for more information on the operation of the public reference rooms. Copies of our SEC filings are also available to the public from the SEC’s web site at www.sec.gov.
We will provide, upon request and without charge, to each shareholder receiving this Information Statement a copy of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010, including the financial statements and financial statement schedule information included therein, as filed with the SEC. You are encouraged to review the Annual Report together with any subsequent information we filed or will file with the SEC and other publicly available information. A copy of any public filing is also available, at no charge, by contacting Raptor Networks Technology, Inc., 41 Howe Lane, Freehold, NJ 07728 , telephone: (732) 252-5146.
| Date: April 24, 2012 | Raptor Networks Technology, Inc. | |
| By Order of the Board of Directors | ||
| By: | /s/ Al Pietrangelo | |
| Al Pietrangelo | ||
| President and Chief Executive Officer | ||
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NAME
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ADDRESS
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Al Pietrangelo
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41 Howe Lane
Freehold, New Jersey 07728
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/s/ Al Pietrangelo
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Al Pietrangelo
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Mabwe Minerals Inc.
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By:
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Name: Al Pietrangelo
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Title: President
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Exhibit D
AGREEMENT WITH CALIFORNIA CAPITAL EQUITY, LLC

July 1, 2011
CONFIDENTIAL
California Capital Equity, LLC
11755 Wilshire Boulevard, Suite 2000
Los Angeles, California 90025
Gentlemen:
This letter agreement (this "Agreement") sets forth the terms and conditions of a binding agreement between California Capital Equity, LLC, a Delaware limited liability company ("Cal Cap"), and Raptor Networks Technology, Inc., a Colorado corporation ("Raptor"), regarding an exclusive license to Cal Cap of all of Raptor's intellectual property.
1. License. In consideration of the payment in Section 3 below, Raptor hereby grants Cal Cap and its Affiliates an exclusive (even as to Raptor and its Affiliates), perpetual, irrevocable, fully paid-up, transferrable, sublicensable worldwide right and license to develop, design, make, have made, import, keep, offer for sale, sell, use and otherwise exploit the Licensed IP.
2. Certain Definition. For purposes of this Agreement: "Affiliate" means, in relation to any person, a person controlled by, controlling, or under common control with such person (and the term "control" means the power to direct the management of an entity whether through ownership of voting securities, by contract or otherwise); "Intellectual Property" means technology and Know-How and all intellectual and industrial property rights therein or thereto, including patents, petty patents, utility models, copyright, database rights, design rights, registered and unregistered designs, semiconductor- topography rights (mask lay-out rights) and rights in Know-How, in each case whether registered or not and including pending applications and the right to apply for any of the foregoing, and any Improvements thereto, and including trade marks, trading names, domain names, logos and other indications of origin; "Know-How" means all technical information, data, knowledge, expertise, inventions and discoveries, whether patentable or not, whether or not reduced to writing or practice and whether or not individually kept confidential, and including information comprised in formulae, techniques, reference designs, specifications, drawings and associated data, components, prototypes, test jigs, models, samples, instructions, lists, computation models, computer programs (including executable code and source code), trial and testing results and other data, relating to (without limitation) the composition, production, manufacture, fabrication, design, development, use, performance, testing, validation, certification, packaging, repair, maintenance, monitoring, recording and controlling of any product, process or service, including any such information relating to tooling design and quality control; "Improvements" means any Intellectual Property or Know-How which is an improvement, modification or enhancement of, or otherwise relating to the Licensed IP; and "Licensed IP" means any and all Intellectual Property owned or controlled by Raptor or its Affiliates.
3. Payment. Within five (5) business days after the execution of this Agreement, Cal Cap shall pay Raptor by wire transfer of immediately available funds the amount of $384,000 as complete and final payment for the rights granted herein.
CONFIDENTIAL
California Capital Equity, LLC
July 1, 2011
Page 2
4. Raptor Representations. Raptor hereby represents and warrants to Cal Cap that (i) it is a corporation duly organized under the laws of the jurisdiction in which it is incorporated or and has the full corporate power and authority, and has obtained all approvals, permits and consents necessary, to enter into this Agreement and to perform its obligations hereunder; (ii) this Agreement has been duly executed and delivered by and on behalf of Raptor, and constitutes a legal, valid, binding obligation, enforceable against Raptor in accordance with its terms; (iii) neither the execution nor the performance of this Agreement by Raptor is prohibited or restricted by any provision of law and will not be in breach of any obligation of Raptor to any third party; (iv) all of Raptor's Licensed Patents (as defined below) are set forth on Exhibit A; and (v) Raptor is the legal and beneficial owner of all right, title and interest in and to the Licensed Patents and has all rights to or under such patents and patent applications to grant the rights and licences under this Agreement.
5. IP Maintenance. As between the parties, Cal Cap shall have the right to prepare, file, prosecute and maintain the patents and patent applications within the Licensed IP (such patents, "Licensed Patents"), at Cal Cap's cost and expense. If Cal Cap decides to cease the prosecution or maintenance of any Licensed Patents, it shall notify Raptor in writing sufficiently in advance so that Raptor may, at its discretion, assume the responsibility for the prosecution or maintenance of such Licensed Patents, at Raptor's cost and expense.
6. Binding Agreement. It is understood and agreed that the terms and conditions of this Agreement are intended to be legally binding obligations and shall be binding upon the parties' execution hereof.
7. Governing Law. This Agreement and any matter or dispute relating hereto shall be governed by and construed in accordance with the laws of the State of California, without regard to principles of conflicts of law.
8. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any party may execute this Agreement by facsimile or .pdf signature and the other party shall be entitled to rely on such facsimile or .pdf signature as evidence that this Agreement has been duly executed by such party.
[SIGNATURES ON FOLLOWING PAGE]
CONFIDENTIAL
California Capital Equity, LLC
July 1, 2011
Page 3
Please countersign this Agreement to confirm your agreement with the terms and conditions set forth herein.
Sincerely,
Raptor Networks Technology, Inc.
| /s/ T.M. Wittenschlaeger | |
| Name: | T.M. Wittenschlaeger |
| Title: | CEO |
Acknowledged and Agreed:
California Capital Equity, LLC
| /s/ P. Soon-Shiong | |
| Name: | P. Soon-Shiong |
| Title: | CEO |

EXHIBIT A
Licensed Patents
(A) Granted patents:
(1) US 7,352,745 Granted 1 April 2008 titled "Switching System with Distributed Switching Fabric."
(2) US 7,548,545 Granted 16 June 2009 titled "Disaggregated Network Management."
(3) US 7,548,556 Granted 16 June 2009 titled "Secure Communication through a Network Fabric."
(4) US 7,599,314 Granted 6 October 2009 titled "Surface-Space Managed Network Fabric."
(5) US 7,603,428 Granted 13 October 2009 titled "Software Application Striping."
(6) US 7,904,602 Granted 8 March 2011 titled "Distributed Computing Bus."
(B) Continuation and in-process activities
| · | Matter 15US2 "Distributed Computing Bus" | |
| · | Application_01a_(Raptor, 15US2).pdf | |
| · | Filed March 7, 2011 | |
| · | Not yet published | |
| · | Not yet examined | |
| · | Matter 17US2 "Surface-Space Managed Network Fabric" | |
| · | US20090316619 (Wittenschlaeger).pdf | |
| · | Filed September 9, 2009 | |
| · | Currently in active prosecution | |
| · | Matter 18US3 "Software Application Striping" | |
| · | US20090327446 (Wittenschlaeger).pdf | |
| · | Filed September 9, 2009 | |
| · | Currently in active prosecution | |
| · | Matter 26US1 "Hybrid Transport - Application Network Fabric Apparatus" | |
| · | US20100312913 (Wittenschlaeger).pdf | |
| · | Filed August 3, 2010 | |
| · | Not yet examined | |
| · | Matter 27US1 "Vector-Based Anomaly Detection" | |
| · | Application_01_b(Raptor,27US1).pdf | |
| · | Filed February 9, 2011 | |
| · | Not yet published | |
| · | Not yet Examined | |
| · | Matter 28US1 "Distributed Network Interfaces for Application Cloaking and Spoofing" | |
| · | Application_01b(Raptor,28US1).pdf | |
| · | Filed February 9, 2011 | |
| · | Not yet published | |
| · | Not yet Examined | |