NOTE 9. ACQUISITION
OF THE ASSETS OF PET POINTERS, INC.
4, 2011Entest CA acquired from Pet Pointers, Inc., a California corporation doing business as McDonald Animal Hospital (Seller),
and Dr. Gregory McDonald DVM (McDonald) all the goodwill from McDonald and assets of Seller except cash and accounts
receivables used in connection with the operation of a veterinary medical clinic located at 225 S. Milpas Street, Santa Barbara,
CA 93103 (the "Business").
for the acquisition consisted of:
$70,000 in cash
$210,000 of the Companys common shares valued at the closing price per share as of January 4, 2011
Payment of no more than $78,000 to a creditor of the Seller to be paid in monthly installments of $1,500 per month
Payment of no more than $25,000 to additional creditors of the Seller to be paid in monthly installments of $825 per month
Payment of $50,000 to McDonald on the first business day of the fourth month following the closing of the acquisition (Closing)