The purchase price to be paid by Buyer to Seller in exchange for Buyer's acquisition of the Purchased Assets shall equal Three Hundred Fifty Thousand Dollars ($350,000.00) (the " Purchase Price ") and shall be paid as follows: (a) One Hundred Eighty Five Thousand Dollars ($185,000.00) paid to Seller concurrent with Closing, and (b) One Hundred Fifty Thousand Dollars in Buyers Preferred Stock ($150,000), and Fifteen Thousand Dollars ($15,000) to be delivered to Seller within 45 days after the Closing date.