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Previous: TORQUE ENGINEERING CORP, 10KSB/A, 2000-08-10 |
Next: TORQUE ENGINEERING CORP, 10KSB/A, EX-10.1, 2000-08-10 |
Exhibit 2.3
BILL OF SALE
THIS INDENTURE WITNESSETH, that TORQUE ENGINEERING CORPORATION, an
Indiana corporation, with its principal place of business situate in Elkhart
County, Indiana, has this day bargained and sold, and does hereby bargain, sell,
assign, transfer, set over and deliver to IPSL, INC., a corporation, of
________________ County, in the said State of Nevada, for the sum of One and
00/100 ($1.00) dollar and other good and valuable consideration, in hand paid,
the receipt whereof is hereby acknowledged, the following personal property
situate in Elkhart County, State of Indiana, and other locations, to-wit:
Please see "EXHIBIT A" attached hereto and made a part hereof
by reference thereto as fully as if set forth herein for
description of personal property.
IN WITNESS WHEREOF, the said TORQUE ENGINEERING CORPORATION, has
hereunto set its hand and seal, this 29th day of April, 1999.
TORQUE ENGINEERING CORPORATION
By: /s/ Richard W. Strefling
-------------------------------
RICHARD W. STREFLING, President
STATE OF INDIANA )
) SS:
COUNTY OF ELKHART )
TORQUE ENGINEERING CORPORATION, by its President, RICHARD W. STREFLING,
being duly sworn on oath, says that said corporation is the owner of said
property described in "EXHIBIT A", and the same is free and clear of all
encumbrances and liens of every kind and nature whatsoever as of the date of the
execution of the within Bill of Sale, and to this Affiant makes oath for the
purpose of inducing the sale herein stipulated.
DATED, this 29th day of April, 1999.
TORQUE ENGINEERING CORPORATION
By:/s/ Richard W. Strefling
--------------------------------
RICHARD W. STREFLING, President
1
<PAGE>
Subscribed and sworn to before me this 29th day of April, 1999.
My Commission Expires:
July 23, 2000 /s/ Mary L. Bently
------------------
Mary L. Bentley, Notary Public
Residing in Elkhart County,
Indiana
This instrument was prepared by Michael A. Cosentino, Lawyer, 115 West
Lexington Avenue, P.O. Box 1866, Elkhart, Indiana 46515.
2
<PAGE>
<TABLE>
<CAPTION>
TORQUE ENGINEERING (ENGINE)
File List
Acquisition
Sys No Co Asset/Tax No. Description Date
------ ---------------- ----------- -----------
<S> <C> <C> <C>
Furniture & Fixtures
1 TE-003 SAFE 8/20/92
75 FURN & FIX 03/02/92
91 TE-0164 CABINET ROTOMATIC 03/02/92
102 TE-0002 TELEDYNE ROTOLITE/VAC 03/02/92
113 TE-0189 BLUE PRINT STAND 03/22/92
114 TE-0190 BLUE PRINT STAND 04/28/93
115 TE-0192 SWITCHER 03/16/93
116 TE-0193 COLOR QUAD SPILTER 03/16/93
122 TE-0199 STORAGE CABINET LYON 05/25/93
202 7-0001 2 PEDESTAL WOOD DESK 07/03/93
204 S-0317 6 SIDE CHAIRS (CONF) 07/03/93
205 S-0313 SECRETARY DESK 07/03/93
206 S-0315 CONFERENCE TABLE 07/03/93
207 7-0004 562 FR CHAIR 07/03/93
208 7-0005 562 FR CHAIR 07/03/93
209 8-0114 TELEPHONE SYSTEM 07/03/93
210 8-0114 LIGHTNING PROTECTION 07/03/93
211 8-0114 TELECONNECT 07/03/93
212 7-0016 LOBBY SOFA 07/03/93
280 OFFICE PRIVACY PANELS 04/02/94
298 DELUXE CHAIR 06/30/94
321 Te-0238 CANNON FAX MACHINE 01/24/95
373 S-0311 XEROX COPIER 09/01/96
377 REQUEST OFFICE DIVIDERS (ENGINEERING) 06/15/96
378 REQUEST TABLE TOPS FOR ENGINEERING 06/25/96
Machinery & Equipment
4 TE-0054 HEIGHT GAGE MITUTOYO 11/03/92
5 TE-0055 PINK SURFACE PLATE STAR 10/31/92
6 TE-0056 SUPER FLOW BENCH 06/08/92
9 TE-0062 CIRCULATOR W/ICS 06/16/92
10 TE-0063 VERTICAL WATER TANK 08/01/92
11 TE-0067 CENTRIFUGAL WATER PUMP 07/08/92
12 TE-0068 CENTRIFUGAL WATER PUMP 07/08/92
92 SILENCER FOR DYNO 08/01/92
95 FANS W/ MOTOR DYNO 10/31/92
97 TE-0182-3 2 LIQUID BSKT STRAINERS 02/08/93
98 WORK BENCHES 02/25/93
103 NO TAGS MACHINERY HOOK UPS 01/04/93
104 NO TAG HOOK UP AIR COMP & DRYER 04/09/93
105 NO TAG INSTALL DISCONNECTS 04/12/93
106 NO TAG HOOK UP MACH & EQUIP 05/26/93
108 TE-0184 DEPAC SYSTEM FOR SUPERFLO 03/03/93
110 TE-0186 SURFACE ROUGHNESS TESTER 04/22/93
111 TE-0187 USED HALON TANK & VALVES 03/31/93
112 TE-0188 COMP-SPRING TESTER 03/15/93
</TABLE>
1
<PAGE>
TORQUE ENGINEERING (ENGINE)
File List
<TABLE>
<CAPTION>
Acquisition
Sys No Co Asset/Tax No. Description Date
------ ---------------- ----------- -----------
<S> <C> <C> <C>
118 TE-0195 17 USED LOCKERS (BLUE) 04/12/93
119 TE-0196 STAINLESS CRYOSTORAGE 06/03/93
120 TE-0197 CUSTOM OVEN 06/23/93
121 TE-0198 MOTORIZED RING GRINDER 05/06/93
16 TE-0074 VALVE REFACER KWIKWAY 08/20/92
17 TE-0075 SIOUX GRINDER BENCH 08/20/92
18 TE-0076 VALVE REFACER NEWAY 08/20/92
22 TE-0080 SUNNEN ROD & CAP GRINDER 08/20/92
23 TE-0081 SUNNEN PIN PRESS 08/20/92
24 TE-0083 SUNNEN ROD HEATER 08/20/92
25 TE-0084 ROCKWELL PISTON CUT MILL 08/20/92
26 TE-0085 BLAST ALL GLASS BEADER 08/20/92
28 TE-0088 SK SOLVENT TANK SAFETY CL 08/20/92
30 TE-0090 P&H TIG & STICK WELDER 08/20/92
31 TE-0091 JOHNSON CUT OFF SAW 08/20/92
32 TE-0092 ROCKWELL DELTA DRILL PRES 08/20/92
34 TE-0095 ENGINE HOIST 08/20/92
36 TE-0097 ATLAS POSITIONER 08/20/92
37 TE-0101 KWIKWAY SEAT GRINDER & AR 08/20/92
38 TE-0102 KWIKWAY SEAT GRINDER & AR 08/20/92
39 TE-0110 MAZAK VERTICAL QUALITY CE 03/02/92
40 TE-0111 MAZAK CUSTOM COMPUTER 03/02/92
41 TE-0112 AMDEK MONITOR 03/02/92
43 TE-0114 SNAP ON PERFORMANCE ANALYZER 03/02/92
45 TE-0116 MILLER 200 WELDER 03/02/92
46 TE-0118/BOAT FUEL INJECT TEST STAND 03/02/92
47 TE-0119 INST FOAM PROD PKG EQUIP 03/02/92
50 TE-0127 SUNNEN VERTICAL HONE 03/02/92
51 TE-0128 STORM VULCAN CLEAN MACH 03/02/92
52 TE-0129 SUNNEN PRECISION HON MACH 03/02/92
53 TE-0130 STEWART WARNER IND BAL 03/02/92
54 TE-0131 SEWART WARNER DIG SCALE 03/02/92
55 TE-0133 SUNNEN HORIZONTAL HONE 03/02/92
56 TE-0134 MILLPORT PRECISION LATHE 03/02/92
57 TE-0136 ROTTLER BORING MACHINE 03/02/92
58 TE-0137 STORM VULCAN & ELEC/RESUR 03/02/92
59 TE-0138 AMER MACH TOOL LATHE 03/02/92
60 TE-0139 BRIDGEPORT 12 BH MACH 03/02/92
61 TE-0140 SHARP TURRETT MILL MACH 03/02/92
62 TE-0141 MAGNAFLUX MAG PART MACH 03/02/92
63 TE-0142 SHELVING - METAL STEEL 09/30/92
64 TE-0142 SHELVING - PARTICAL BOARD 09/30/92
66 ENGINE BUILD UP PART 09/30/92
67 CRANES/YELLOS 09/30/92
68 CHAIN FALLS & TROLLEYS 09/30/92
70 TE-0081 TABLE FOR PIN PRESS 08/20/92
71 5 SETS EXHAUST TAIL PIPES 03/02/92
</TABLE>
2
<PAGE>
TORQUE ENGINEERING (ENGINE)
File List
<TABLE>
<CAPTION>
Acquisition
Sys No Co Asset/Tax No. Description Date
------ ---------------- ----------- -----------
<S> <C> <C> <C>
73 SUPERFLOW DYNO 03/02/92
124 TE-0201 VALVE SPRING COMPRESSOR 05/13/93
128 TE-0205 DEPAC FUEL LOW TANK 06/17/93
130 NO TAGS SHOP BENCHES 06/15/93
132 NO TAGS 2 SOLENOID VALVES 06/24/93
134 ENGRAVE DRIVESHAFT FOR DYNAMOMET 06/24/93
155 NO TAG SOFTWARE FOR DYNO 03/02/92
156 NO TAG TECHMAX BLEC CONT VALVE 03/02/92
157 NO TAG LARGE DYNO MUFFLER 03/02/92
158 NO TAG ENGINE CARTS & STANDS 03/02/92
159 NO TAG PATTERSON HEADER (1) 03/02/92
160 NO TAG CONSOLE GAUGES 03/02/92
161 NO TAG PATTERSON HEADER (2) 03/02/92
163 NO TAG PLATFORM LADDER ROLLING 03/02/92
164 NO TAG FAN WHEELS 03/02/92
165 TE-0150 6 SHELVES 03/02/92
166 TE-0154 BOLT BIN BLACK 03/02/92
167 TE-0155 CRANK RACK BLUE 03/02/92
168 TE-0156 AIR COMPRESSOR 20 HP 03/02/92
169 TE-0159 MILWAUKEE CHOP SAW 03/02/92
170 TE-0161 CABINET DAYTON 2 DR 03/02/92
171 TE-0162 BARREL DOLLEY WESCO ORANG 03/02/92
174 TE-0167 SUNNEN 2DR BLUE ROLLER 03/02/92
176 TE-0171 BARREL RACK BLUE 03/02/92
177 TE-0177 PALLET TRUCK LBM 1500 CAP 03/02/92
178 TE-0179 TESTER STAND 03/02/92
179 TE-0181 AXE SMALL PARTS WASHER 03/02/92
180 TE-0057 HOIST MILWAUKEE 1 TON 03/02/92
181 TE-0059 HOIST MILWAUKEE 2 TON 03/02/92
182 TE-0060 HOIST YALE 1000 LB 03/02/92
184 TE-0064 BERKLEY WATER PUMP 10 HP 03/02/92
185 TE-0065 DURGLASS3/4HP WATER PMP 03/02/92
186 TE-0066 TEEL 3 HP WATER PUMP 03/02/92
192 TE-0180 AXE PARTS WASHER RED 03/02/92
193 TE-0117 BALDOR GRINDER - BUFFER 03/02/92
194 TE-0120 TRU SQUARE TUMBLER ULTRA 03/02/92
195 TE-0122 CUSTOM PRESS 03/02/92
196 TE-0123 WILTON BELT GRINDER 03/02/92
187 TE-0069 SUPERFLOW 109 CONTROL CON 03/02/92
188 TE-0071 BALTIMOR AIR COIL EXCH 03/02/92
189 TE-0082 SUNNEN ROD HEATER 03/02/92
190 TE-0160 JIB KNEE CRANE 03/02/92
197 TE-0124 DAYTON COMM TOOL GRINDER 03/02/92
198 TE-0132 SCARRET GRANNET STONE 03/02/92
199 TE-0135 ROCKWELL PED GRINDER 03/02/92
201 TURBINE METER ETC 06/11/93
224 ELECTRO-CHEM MARKING ASMB 08/05/93
</TABLE>
3
<PAGE>
TORQUE ENGINEERING (ENGINE)
File List
<TABLE>
<CAPTION>
Acquisition
Sys No Co Asset/Tax No. Description Date
------ ---------------- ----------- -----------
<S> <C> <C> <C>
225 ELEPHANT FEET 08/07/93
226 SHELVING 08/07/93
227 4" AIRFLOW NOZZLE W/SENSR 08/07/93
229 TUTHIL INTERNAL GEAR PUMP 08/10/93
231 CONTOUR MACHINE 08/10/93
234 PUMP/MOTOR ASSEMBLY 09/04/93
235 PUMP/MOTOR ASSEMBLY 09/04/93
236 ELEPHANT FEET 09/04/93
237 DYNO EQUIPMENT 09/04/93
238 KNEE BRACE JIB CRANE KIT 09/04/93
239 CHAIN HOISTS 09/04/93
240 DRY SUMP TANK W/ HEATER 09/10/93
243 DYNO EQUIPMENT 09/30/93
245 DYNAMOMETER 10/30/93
246 TUTHIL INTERNAL GEAR PUMP 10/30/93
247 DYNO EQUIPMENT PANELS 10/30/93
248 UDC DIGITAL CONTROLLER 10/30/93
249 3" AIFLOW NOZEL W/ SENSR 10/30/93
250 DEPAC DYNO SYSTEM 11/27/93
251 FUEL PUMP & AIR LINES 11/27/93
252 HONEYWELL VALVE W/ CONTRLR 11/27/93
253 TE-0236 4TH AXIS ROTARY TABLE 11/27/93
254 DIAL BORE GAGE 11/27/93
255 DIAL BORE GAGE/EXT RODS 11/27/93
256 RECEPT FOR SEA PUMP 12/31/93
257 PUSH BUTTONS TO CONSOLE 12/31/93
258 CALB-DOM W/FLOW 12/31/93
259 ALUMINUM AIR BOX W/CLAMPS 12/31/93
260 MANUAL CHAIN HOIST 12/31/93
261 TOP/BOTTOM GUARDS & READR 12/31/93
262 CRS TUBES 12/31/93
263 214 GA SS ENCLOSURES 12/31/93
264 DRAIN CONNECTION DYNO RM 12/31/93
265 WIRE WAY FOR DYNO CELL 12/31/93
266 3 PH GAS PUMP WIRING 12/31/93
267 DYNO ROOM SET UP 12/31/93
268 DYNO CELL DUCT WORK 12/31/93
269 DYNO ROOM ELECTRIC WORK 12/31/93
271 DC POWER SUPPLY & GAS VLV 12/31/93
317 REQUEST SHELVING/PARTS ROOM 12/13/94
319 BOAT TRANSOM PLATE ASSY/DRIVE LINE 01/06/95
320 BOAT DRIVE 6 SPPEDMASTER/RT HAND 01/06/95
323 TE-0216 MODEL U416 METAL BRAKE 02/03/95
324 TE-0217 MODEL 152 METAL SHEAR 02/03/95
329 BOAT 1995 41" VELOCITY (TEST BOAT) 02/14/95
330 TE-0220 36" SANDBLAST CABINET 02/01/95
331 TE-0218 24" MAN BEAD ROLLER W/MANDERELS 02/09/95
</TABLE>
4
<PAGE>
TORQUE ENGINEERING (ENGINE)
File List
<TABLE>
<CAPTION>
Acquisition
Sys No Co Asset/Tax No. Description Date
------ ---------------- ----------- -----------
<S> <C> <C> <C>
332 NITGEON STORAGE TANK XC 34/18 M 03/08/95
333 TE-0221 ACU-RITE CONTROLLER ON BRIDGEP 04/01/95
334 REQUEST 9" LFS90 W/MULTIFILTER ASSMBLD/LF 04/03/95
335 REQUEST 36 GAL TANK COMPLETE NON CAT-CO 05/15/95
337 TE-0222 SNK MODEL FSP-50H 06/22/95
339 TE-0223 MODEL 101 SEAT & GUIDE MACHINE 07/31/95
343 NONE HYDROLIC PULL 06/21/95
346 NONE DYNO DRIVESHAFT ASSEMBLY 10/24/95
349 REQUEST DYNO FLOWMETER 12/01/95
350 REQUEST AMPLIFIER 12/01/95
352 REQUEST WAREHOUSE RACKING 03/05/96
357 NONE PARTS & LABOR FOR SNK MACHINE 05/01/96
359 TE-0219 CARBOLOY MILLING CUTTER 06/03/96
272 NYCON & LMST FOR DYNO PIT 12/31/93
273 REPRUGERATED DRYER 04/03/93
274 STAINLESS FLEX W/CLAMP 12/31/93
275 PLATE W PROTEC THREADS 08/07/93
276 TE-0237 LIFT TRUCK-MITSUBISHI 02/17/94
278 ELEPHANT FEET 01/06/94
279 STD HEAT EXCHANGER 01/14/94
282 SUMP PIPING/COOLING LINES 04/02/94
283 DIGIMATIC HEIGHT GAGE 24" 04/02/94
284 HOOK UP FREQUENCY CONVERT 04/02/94
285 FUEL FLOW BENCH 11/2HP 04/01/94
291 PIPE/WIRE FOR 5HP SUMP PM 04/30/94
286 25HP MOTOR AND INVERTER 04/01/94
292 GOULDS 3 PHASE & FLOAT SW 04/30/94
293 SHELVING 04/30/94
294 DYNO TANK 04/30/94
303 FLOOR TOOL BOX 08/06/94
304 COMP SLIDE MILLING & DRILL TABLE 07/12/94
305 DYNO COOLING TOWER CENTRIFUGA 07/14/94
306 NONE COOLING TOWER 08/24/94
308 NONE HOLETEST BORE GAGES 09/07/94
309 REQUESTED HOLETEST BORE GAGES 09/07/94
310 REQUESTED HOLEST BORE GAGES 09/07/94
311 REQUESTED HOLETEST BORE GAGES 09/07/94
312 NONE CONTROL TRANSFORMER 09/12/94
313 REQUEST GRINDER 10/28/94
314 REQUEST PS1000 ROD SCOPE KIT 12/15/94
315 TE-0215 15" REGAL LATHE 12/20/94
360 DYNO 3-150# PRESSURE TRANSDUCER 06/14/96
368 DYNO 100# PRESSURE SENSOR 06/21/96
369 REQUEST DUST COLLECTOR 06/19/96
374 7-0548 CHEVALIER SURFACE GRINDER 09/01/96
407 REQUEST CL26 CALIBRATION KIT 11/01/97
382 SOFTWARE LEVEL 3 UPDATE TO V6 08/06/96
</TABLE>
5
<PAGE>
TORQUE ENGINEERING (ENGINE)
File List
<TABLE>
<CAPTION>
Acquisition
Sys No Co Asset/Tax No. Description Date
------ ---------------- ----------- -----------
<S> <C> <C> <C>
390 SOFTWARE SOLIDWORKS 97 02/06/97
393 REQUEST 15" MONITOR 05/22/97
402 REQUEST HP 6PSE LASER PRINTER 07/24/97
411 NONE DRAFTPAK UPGRADE 7.55 DOS/WIN-3.5 06/07/97
413 REQUEST GATEWAY 2000 486/33 W/ 14" MONITO 01/06/98
Tooling
74 TOOLS & FIXTURES MAZAK 03/02/92
109 TE-0185 SETTING FIXTURE 02/11/93
123 TE-0200 VALVE GUIDE GAGE SET 05/04/93
135 ENGRAVE DIAL BORE GAUGE 02/11/93
277 FLOW BENCH TOOLS 01/07/94
366 NONE BASE FLAME ARRESTOR PATTERN 07/19/96
367 NONE COVER FLAME ARRESTOR PATTERN 07/19/96
371 NONE CHANGE ROCKER COVER TOOLING 08/06/96
385 TOOLING FLYWHEEL HOUSING QB60181B 10/21/96
396 TOOLING LANDIS PROFILE BAR 06/12/97
397 TOOLING HYDRAULIC EXPANSION ARBOR 06/12/97
398 TOOLING BROACH 06/12/97
399 TOOLING BROACH STUD 06/12/97
400 TOOLING SHAVE FIXTURE 06/12/97
V-12 Tooling
99 ENGRAVE HONE UNIT 02/23/93
136 NO TAGS COLLECT CHUCKS 07/15/92
137 TE#1021 BORING HEAD 09/15/92
138 TE#1022 BORING HEAD 09/15/92
139 TE#1023 BORING HEAD 09/15/92
140 TE#1024 BORING HEAD 09/15/92
141 TE#1024 BORING HEAD 09/15/92
142 TE#1028-55 TOOL HOLDERS 09/15/92
347 NONE HONE UNIT 10/25/95
</TABLE>
6
<PAGE>
<TABLE>
<CAPTION>
TORQUE ENGINEERING CORPORATION
Schedule 6.07
SOFTWARE LIST
Software which appears to be transferable is includes in the asset sale to that
extent.
SOFTWARE INSTALLED LICENSE MEDIA TRANSFERABLE
-------- --------- ------- ----- ------------
<S> <C> <C> <C> <C>
1st ACT YES YES YES YES
ADAPTEC 7800 YES YES YES YES
AIRDUCT NO YES YES YES
ANYKEY YES YES YES YES
ATI LOCAL BUS YES YES YES YES
CADKEY YES YES YES YES
CAMLINK YES YES YES YES
COLORADO BACKUP YES YES YES YES
COMPUSERVE YES YES YES YES
CONTROLLED IND. NO YES YES YES
DIRECTVIEW YES YES YES YES
DISK MGR. NO YES YES YES
DOS ALL VER. YES YES YES YES
DRAFT-PAK YES YES YES YES
EDIT YES YES YES YES
EDIT 80 YES YES YES YES
FASTSURF NO YES YES YES
FAX WORKS NO YES YES YES
FLOW BENCH YES YES YES YES
IMPACT NO YES YES YES
INTERCHANGE NO YES YES YES
LAN DRIVERS ALL YES YES YES YES
LANTASTIC NO YES YES YES
NORTON ANTI-VIRUS YES YES YES YES
NORTON COMMANDER NO YES YES YES
NORTON NT TOOLS YES YES YES YES
OFFICE PROFESSIONAL YES YES YES YES
OKIDATA YES YES YES YES
PARADOX YES YES YES YES
PC TOOLS YES YES YES YES
PC WRITE NO YES YES YES
PHOTO ENHANCER YES YES YES YES
QA-PLUS DIAGNOSTIC NO YES YES YES
QEMM NO YES YES YES
QUATRO PRO YES YES YES YES
SMART CAM YES YES YES YES
SNAP-MASTER YES YES YES YES
SOLID WORKS ALL VER. YES YES YES YES
SOUND BLASTER YES YES YES YES
SPRING TEST PROGRAM NO YES YES YES
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
STACKER NO YES YES YES
WINDOWS ALL VER. YES YES YES YES
WORDPERFECT 5.1 YES YES YES YES
WORKS NO YES YES YES
</TABLE>
2
<PAGE>
TORQUE ENGINEERING CORPORATION
ASSET LIST - OFF PREMISE MOLDS/PATTERNS
Schedule 5.07
Alum-Alloy Co., Inc. Gear Case and Dist. Case
603 South Hope Ave. Front cover/gear case - p/n 1001
Ontario, CA 91761 Front cover "A" - p/n 1002
Cover "B" - p/n 1003
Dist. Housing-rear case - p/n 1005
Dist. Housing-front case - p/n 1005
Intake Runner - p/n 1007
Intake Plenum
- p/n 1008
Valve Cover - p/n 1009
Dart Machine Cylinder Heads for V-12
1580 Rossi Dr. Mold/Patter located at
Oldcastle, Ontario NOR1LO Ross Aluminum
Sidney, OH
Consolidated Foundries, Inc. V-12 Engine Block
Box 513540 Bell Housing
Los Angeles, CA 90051-3540 Valve Center
K&F Foundry Flame Arrestor
Base - p/n MA60293A
Cover - p/n MA60294A
Max Castings Company Gear Case (GCM) p/n FA50104A
116 Paw Paw Ave. Flywheel Housing p/n QB60181B
P.O. Box 1326 Sea Pump Housing
Benton Harbor, MI 49022 Power Steering Housing
Johns Pattern & Mold Co. Stack Adaptor Pattern
1450 Jerome St. Intake Manafold Pattern
P.O. Box 755 Water outlet manafold
Niles, MI 49120
3
<PAGE>
<TABLE>
<CAPTION>
TORQUE ENGINEERING CORPORATION
ASSET LIST - OFF PREMISE MOLDS/PATTERNS
Schedule 5.07
BOOK VALUE
----------
<S> <C> <C>
Alum-Alloy Co., Inc. Gear Case and Dist. Case $4,740
603 South Hope Ave. Front cover/gear case - p/n 1001 4,143
Ontario, CA 91781 Front cover "A" - p/n 1002 3,842
Cover "B" - p/n 1003 5,962
Dist. Housing-rear case - p/n 1005 3,130
Dist. Housing-front case - p/n 100 2,480
Intake Runner - p/n 1007 5,340
Intake Plenum - p/n 1008 16,000
Valve Cover - - p/n 1009 2.475
Dart Machine Cylinder Heads for V-12 94,000
1580 Rossi Dr. Mold/Pattern located at
Oldcastle, Ontario NOR1LO Ross Aluminum
Sidney, OH
Consolidated Foundries, Inc. V-12 Engine Block 125,000
Box 513540 Bell Housing
Los Angeles, CA 90051-3540 Valve Cover
K&F Foundry Flame Arrestor 1,100
Base - p/n MA60293A
Cover - p/n MA60294A
Max Castings Company Gear Case (GCM) - p/n FA50104A 2550
116 Paw Paw Ave. Flywheel Housing - p/n QB60181B 2200
P.O. Box 1326 Sea Pump Housing
Benton Harbor, MI 49022 Power Steering Housing
Johns Pattern & Mold Co. Stack Adaptor Pattern In-process
1450 Jerome St. Intake Manafold Pattern In-process
P.O. Box 755 Water outlet manafold In-process
Niles, MI 49120 ------------
TOTAL $ 272,962
============
</TABLE>
4
<PAGE>
ASSET PURCHASE AGREEMENT
SCHEDULE 5.08 - INTELLECTUAL PROPERTY
Patents:
Engine Lubrication System U.S. Patent Application No. 08/866,635
Filed 5-30-97
Trademarks:
Torque Engineering Corporation, Registration No. 1,990,691 8-6-96
Torque Engineering Corporation, Registration No. 1,920,431 9-19-95
Copyrights:
None
Schedule 5.08(a) - No Exceptions.
Schedule 5.08(b) - No Exceptions.
5
<PAGE>
ASSET PURCHASE AGREEMENT
SCHEDULE 5.17 - INVENTORY
Engine Inventory at cost (as of 12-31-98)
Engine Parts (Schedule 5.17a)* ............................ $118,730
R & D Parts Inventory (Schedule 5.17.b) ................... 362,285
In- process Engine Inventory (Schedule 5.17.c)**
Estimated R & D Net Inventory purchased after 12-31-98 thru
3-31-99 (Schedule 5.17.d)*** ..................... 45,518
--------
Total ............................................ $526,533
--------
*Books reflect a write down of the old Lightning inventory of $92,250 not
reflected in the above numbers leaving a net engine inventory per books $30,941.
**There is no assigned cost for the In-process Engine Inventory.
***An inventory was taken at the end of December, 1998, no inventories since
that time.
6
<PAGE>
TORQUE ENGINEERING
VENDOR LIST (ENGINE ONLY)
<TABLE>
<CAPTION>
VENDOR NO VENDOR NAME ADDRESS
------------ --------------------------------- --------------------------------------------------------------
<S> <C> <C> <C>
012770 ANGELUS PATTERN WORKS 2084 BELGRAVE HUNTINGTON PK, CA 90265
020043 AUTOMOTIVE RACING PROD 250 QUAIL COURT SANTA PAULA, CA 93060
051037 C&S MACHINE PRODUCTS, INC. 215 S POST ROAD BUCHANAN, MI 49107
051525 CAMSHAFT MACHINE CO PO BOX 861238 ORLANDO, FL 32886-1238
064495 COAN ENGINEERING 1602 E HAVENS ST KOKOMO, IN 46901
065140 CORPORATE SOFTWARE SOLUTIONS 3700 VANGUARD DR SUITE A FT WAYNE 46809-3301
051032 CV PRODUCTS PO BOX 915 THONASVILLE, NC 27361
076025 D&B ENVIRONMENTAL 401 LINCOLN WAY WEST OSCEOLA, IN 46561
076751 DARTON INTERNATIONAL 2380 CAMINO VIDA ROBLE SUITE J&K CARLSBAD, CA 92009-1507
159160 GILBREATH MARINE TECH 243 ELDENBURG RD ORIEST RIVER, ID 83856
225987 J&L INDUSTRIAL SUPPLY 1028 SOLUTION CTR CHICAGO, IL 60677-1000
225980 J.E. PISTONS, INC. 15681 COMPUTER LANE HUNTINGTON BEACH, CA 92649
225982 JGM AUTOMOTIVE TOOLING 5355 INDUSTRIAL DR HUNTINGTON BEACH, CA 92649
239777 JOHNS PATTERN & MODEL PO BOX 755 NILES, MI 49120
239779 JOHNSON'S HIGH TECH 701-B ARROYO AVE SAN FERNANDO, CA 83140
268175 KRUIS MOLD & ENGINEER 2221 INDUSTRIAL PARKWAY ELKHART, IN 46516-5497
301920 MAX CASTING COMPANY PO BOX 1326 BENTON HARBOR, MI 49022
305566 MERCURY MARINE PO BOX 96964 CHICAGO, IL 60693
315258 MOTION INDUSTRIES, INC. PO BOX 98387 CHICAGO, IL 60693
330347 NELSON FUEL, INC 1511 SOUTH OLIVE ST. SOUTH BEND, IN 46619-4297
340205 NORTH SIDE AUTO PARTS 140 CR 6 WEST ELKHART, IN 46514
376585 PANTHER ELECTRONICS PO BOX 700702 ST CLOUD, FL 34770-0702
453273 SCHUPAN ALUMINUM SALES PO BOX 77000 DETROIT, MI 48277-0682
475980 T&D MACHINE PRODUCTS 4859 CONVAIR DR CARSON CITY, NV 89706
433847 THE RIDGE CO., INC. PO BOX 2859 SOUTH BEND, IN 46680
492529 TREND PERFORMANCE PRODUCTS IN 23444 SCHOENHERR RD WARREN, MI 48089
530180 VEHICLE SPECIALTIES, INC 7940 NEW JERSEY AVE HAMMOND, IN 46323
533794 VIBRATECH, INC PO BOX 96856 CHICAGO, IL 60693
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