ASURA DEVELOPMENT GROUP, INC. - FORM S-1 - EX-5 - OPINION OF SNELL & WILMER L.L.P. - December 9, 2009

Attached files

file filename
S-1 - FORM S-1 - ASURA DEVELOPMENT GROUP, INC.s-1.htm
EX-23 - CONSENT OF SHERB AND CO., LLP - ASURA DEVELOPMENT GROUP, INC.ex2301.htm
EX-10 - FORM OF WARRANT (NO. W-9) FOR 250,000 SHARES - ASURA DEVELOPMENT GROUP, INC.ex10091.htm
EX-10 - SECURITIES PURCHASE AGREEMENT DATED 09-29-2009 - ASURA DEVELOPMENT GROUP, INC.ex10098.htm
EX-10 - SUBSCRIPTION AGREEMENT DATED 11-04-2009 - ASURA DEVELOPMENT GROUP, INC.ex10100.htm
EX-10 - FORM OF PERFORMANCE WARRANT (NO. W-13) 250,000 SHR - ASURA DEVELOPMENT GROUP, INC.ex10093.htm
EX-10 - FORM OF PERFORMANCE WARRANT (NO. W-8) 750,000 SHRS - ASURA DEVELOPMENT GROUP, INC.ex10089.htm
EX-10 - REGISTRATION RIGHTS AGREEMENT DATED 09-29-2009 - ASURA DEVELOPMENT GROUP, INC.ex10099.htm
EX-10 - FORM OF PERFORMANCE WARNT (NO. W-6) 3,591,250 SHRS - ASURA DEVELOPMENT GROUP, INC.ex10097.htm
EX-10 - SUBSCRIPTION AGREEMENT DATED 06-10-2009 - ASURA DEVELOPMENT GROUP, INC.ex10087.htm
EX-10 - FORM OF PERFORMANCE WARRANT (NO. W-10) 250,000 SHR - ASURA DEVELOPMENT GROUP, INC.ex10092.htm
EX-10 - STOCK PURCHASE AGREEMENT DATED 08-02-2009 - ASURA DEVELOPMENT GROUP, INC.ex10094.htm
EX-10 - STOCK PURCHASE AGREEMENT DATED 08-17-2009 - ASURA DEVELOPMENT GROUP, INC.ex10095.htm
EX-10 - FORM OF WARRANT (NO. W-5) FOR 1,900,000 SHARES - ASURA DEVELOPMENT GROUP, INC.ex10096.htm
EX-10 - FORM OF PERFORMANCE WARRANT (NO. W-12) 750,000 SHR - ASURA DEVELOPMENT GROUP, INC.ex10090.htm
EX-10 - FORM OF WARRANT (NO. W-7) FOR 750,000 SHARES - ASURA DEVELOPMENT GROUP, INC.ex10088.htm
EX-10 - FORM OF WARRANT (NO. W-11) FOR 428,571 SHARES - ASURA DEVELOPMENT GROUP, INC.ex10086.htm

Exhibit 5.1

 

Snell & Wilmer L.L.P.

One Arizona Center

400 East Van Buren

Phoenix, AZ 85004-2202

 

 

December 8, 2009

 

 

IA Global, Inc.

101 California Street, Suite 2450

San Francisco, CA 94111

 

 

Re:

Registration Statement on Form S-1

 

Ladies and Gentlemen:

 

We have acted as counsel to IA Global, Inc. (the “Company”) in connection with the registration with the Securities and Exchange Commission on Form S-1 of 121,437,321 shares of the Company’s common stock, par value $0.01 (the “Shares”). In connection with this registration, we have reviewed the proceedings of the board of directors of the Company relating to the registration and the issuance of the Shares, the Company’s Certificate of Incorporation and all amendments thereto, the Amended and Restated Bylaws of the Company and all amendments thereto, and such other documents and matters as we have deemed necessary to render the following opinion.

 

Based upon that review, it is our opinion that the portion of the Shares now issued are, and the portion of the Shares that may be issued in the future in accordance with the terms of that certain Securities Purchase Agreement the Company entered into on September 29, 2009 with Ascendiant Capital Group, LLC will be, legally issued, fully paid, and nonassessable.

 

We do not find it necessary for the purposes of this opinion to cover, and accordingly we express no opinion as to, the application of the securities or blue sky laws of the various states as to the issuance and sale of the Shares.

 

We consent to the use of this opinion in the registration statement filed with the Securities and Exchange Commission in connection with the registration of the Shares and to the reference to our firm in the registration statement

 

Very truly yours,

 

/s/ Snell & Wilmer L.L.P.

 

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