On October 12, 2010, Entech Solar, Inc. (the “Company”) issued and sold to
Chapman University, a California Non-profit Corporation, 15,797,788 shares of
the Company’s common stock, par value $0.001 per share, at a price of $0.0633
per share, for an aggregate purchase price of $1,000,000.
In connection with the foregoing, the Company relied upon the exemption from
securities registration afforded by Rule 506 of Regulation D as promulgated
under the Securities Act of 1933, as amended (the “Securities Act”) and/or
Section 4(2) of the Securities Act. No advertising or general solicitation was
employed in offering the securities. The offering and sale was made to a single
person, who is an accredited investor, and transfer is restricted by the Company
in accordance with the requirements of the Securities Act.