<SEC-DOCUMENT>0001255294-15-000009.txt : 20150106
<SEC-HEADER>0001255294-15-000009.hdr.sgml : 20150106
<ACCEPTANCE-DATETIME>20150106164510
ACCESSION NUMBER:		0001255294-15-000009
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20141231
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150106
DATE AS OF CHANGE:		20150106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRATEAN INC.
		CENTRAL INDEX KEY:			0000827876
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				870449945
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53498
		FILM NUMBER:		15510577

	BUSINESS ADDRESS:	
		STREET 1:		2391 SOUTH 1560 WEST
		CITY:			WOODS CROSS
		STATE:			UT
		ZIP:			84087
		BUSINESS PHONE:		801-224-4405

	MAIL ADDRESS:	
		STREET 1:		2391 SOUTH 1560 WEST
		CITY:			WOODS CROSS
		STATE:			UT
		ZIP:			84087

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMARTDATA CORP
		DATE OF NAME CHANGE:	19880120
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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20509</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of
the</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act </B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of Earliest event
Reported):&nbsp;<B>December 31, 2014</B></P>

<P STYLE="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 16pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>STRATEAN INC.</U></B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified
in its charter)</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&#9;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 9pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; line-height: 115%; width: 32%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Nevada</FONT></TD>
    <TD STYLE="line-height: 115%; width: 1%"></TD>
    <TD STYLE="text-align: center; line-height: 115%; width: 34%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">000-53498</FONT></TD>
    <TD STYLE="line-height: 115%; width: 1%"></TD>
    <TD STYLE="text-align: center; line-height: 115%; width: 32%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">87-0449945</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(Commission File Number)</FONT></TD>
    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2391 South 1560 West</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Woods Cross, Utah 84087</U></B></P>

<P STYLE="font: 9pt/9.6pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">(Address of principal executive
offices, including zip code)</P>

<P STYLE="font: 9pt/9.6pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><U>(801) 244-4405</U></B><BR>
(Registrant&rsquo;s telephone number, including area code)</P>

<P STYLE="font: 9pt/9.6pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.5in">(Former name
or former address, if changed since last report)</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</P>

<P STYLE="font: 9pt/9.6pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>


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<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/9.6pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Section 1 - Registrant's Business and Operations</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>Item 1.02 Termination of a Material Definitive Agreement</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2014, Stratean Inc. (the
&quot;Company&quot;) and two Promissory Note holders, Burkeley J. Priest (&quot;Priest&quot;) and The Munson Family Limited
Partnership (&quot;Munson&quot;) entered into Debt Settlement Agreements (&quot;Agreements&quot;), to settle two Promissory
Notes (&quot;Notes&quot;) with a face value of $33,341 and $16,659, respectively. Priest and Munson agreed that, upon
execution of their agreements and receipt of the stock, all claims of Priest and Munson against Stratean Inc., were deemed
released.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Agreements the Company issued
Priest 38,342 shares of Stratean Inc. $0.001 par value common stock which had a fair value on December 31, 2014 of approximately
$1.00 per share, or $38,342. On the date of the transaction Burkeley J. Priest owned approximately 6.2% of the Company's outstanding
common stock and is considered a related party, therefore in accordance with ASC 470-50 approximately $5,001 will be recorded as
a charge against additional paid in capital as a result of the Agreement.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Agreements the Company issued
Munson 19,158 shares of Stratean Inc. $0.001 par value common stock which had a fair value on December 31, 2014 of approximately
$1.00 per share, or $19,158. On the date of the transaction The Munson Family Limited Partnership owned approximately 7.5% of the
Company's outstanding common stock and is considered a related party, therefore in accordance with ASC 470-50 approximately $2,499
will be recorded as a charge against additional paid in capital as a result of the Agreement.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Agreements Priest has been
granted a 10 year royalty (&quot;Royalty&quot;) of one-half of one percent (.5%) of &quot;Gross Revenues&quot; derived from
the &quot;Sale of Stratean Downdraft Gasifer units&quot;.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Agreements Munson has been
granted a 10 year royalty (&quot;Royalty&quot;) of one-quarter of one percent (.25%) of &quot;Gross Revenues&quot; derived
from the &quot;Sale of Stratean Downdraft Gasifer units&quot;.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Agreements define 'Gross Revenues' as; monies
actually received by Stratean arising from the sale of its units. The Agreement further defines the 'Sale of Stratean Gasifier
Units' as revenues received by Stratean as a direct result and occurrence of a sale of physical gasifier units to third parties.
All other revenues generated by Stratean whether related to the Company's Gasifier or otherwise are explicitly excluded. Under
this agreement Stratean is required to render statements and make payments to Priest and Munson within 60 days after the last day
of each fiscal quarter.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stratean remains free to exercise all the rights
of ownership of its property and intellectual property including the right to sell its intellectual property and make licensing
and sub-license agreements without consulting Priest or Munson and upon whatever terms it deems wise.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P> <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">The
foregoing description of the terms of the Debt Settlement Agreements is qualified in its entirety by reference to the provisions
of the agreements filed as Exhibit 10.1 and Exhibit 10.2 to this report, which is incorporated by reference herein.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>Section 2 - Financial Information</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Item 2.03 Creation of a Direct
Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">The information contained in Item
1.02 of this Form 8-K is incorporated herein by reference.</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Section 3 - Securities and Trading
Markets</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Item 3.02&nbsp; Unregistered
Sales of Equity Securities</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B></B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In connection
with the Debt Settlement Agreements, the Company will issue 57,500 shares of restricted $0.001 par value common stock. The shares
were authorized for issuance pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as
amended.</P>



<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"></P> <P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>


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<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>Section 9 - Financial Statements and Exhibits</B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="background-color: white"><B>Item 9.01&nbsp;
Financial Statements and Exhibits</B>.</FONT></P>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="background-color: white">(c) Exhibits</FONT></P>

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    <TD STYLE="width: 1%; line-height: 115%"></TD>
    <TD STYLE="width: 89%; line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B><U>Description</U></B></FONT></TD></TR>
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    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="line-height: 115%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Exhibit&nbsp;10.1</FONT></TD>
    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="line-height: 115%"><A HREF="ex10_1.htm"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Debt Settlement Agreement dated December 31, 2014</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Exhibit&nbsp;10.2</FONT></TD>
    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="line-height: 115%"><A HREF="ex10_2.htm"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Debt Settlement Agreement dated December 31, 2014</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 9pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">Pursuant to the requirements of the
Securities Exchange Act of 1934,&nbsp;the Registrant has duly caused this report to be signed on its behalf by the&nbsp;undersigned
hereunto duly authorized.</P>

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    <TD STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">&nbsp;Date:&nbsp;&nbsp;&nbsp;January 6, 2015</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Stratean Inc.</FONT></TD>
    <TD STYLE="line-height: 115%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"></TD>
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(Registrant)</FONT></TD>
    <TD STYLE="line-height: 115%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; line-height: 115%"></TD>
    <TD STYLE="width: 2%; line-height: 115%"></TD>
    <TD STYLE="width: 36%; line-height: 115%"></TD>
    <TD STYLE="width: 11%; line-height: 115%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">/s/ Zachary K. Bradford</FONT></TD>
    <TD STYLE="line-height: 115%"></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 115%"></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Zachary K. Bradford, Chief Financial Officer</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 115%"></TD></TR>
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<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<B>DEBT SETTLEMENT AGREEMENT</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Debt Settlement Agreement (the &ldquo;Agreement&rdquo;)
is made and entered into as of December 31, 2014, by and between Stratean Inc., a Nevada corporation (&ldquo;Stratean&rdquo;),
and Burkeley J. Priest, an Individual (&ldquo;Priest&rdquo;), with respect to the following.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;A.&#9;Priest is the holder of a $33,341 Promissory Note (the
&ldquo;Debt&rdquo;) dated February 24, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;B.&#9;Stratean is the owner and holder of U.S. Patent No. 8,105,401
(&ldquo;Parallel Path, Downdraft Gasifier Apparatus and Method&rdquo;), and U.S. Patent No. 8,518,133 (&ldquo;Parallel Path, Downdraft
Gasifier Apparatus and Method&rdquo;) (the &ldquo;Patents&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;C.&#9;Stratean and Priest agree to settle and resolve the Debt
in full upon the following terms and conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<B>TERMS AND CONDITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;1.&#9;<U>Stock</U>.&#9;&#9;Promptly after execution of this
Agreement, Stratean shall cause to be issued to Priest 38,342 shares of Stratean Inc. $0.001 par value common stock (the &ldquo;Stock&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;2.&#9;<U>Royalty</U>.&#9;Stratean shall pay to Priest or his
designee a royalty(&quot;Royalty&quot;) of one-half of one percent(.5%) of &quot;Gross Revenues&quot; derived from the &quot;Sale
of Stratean Downdraft Gasifer units&quot;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">a) &quot;Gross
Revenues&quot; are defined as the monies actually received by Stratean Inc. arising from the sale of its units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">b) &quot;Sale
of Stratean Downdraft Gasifer Units&quot; is defined as revenues received by Stratean as a direct result of the occurrence of a
sale of physical gasifier units to third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">c) The Royalty
shall have a life of 10 years and will expire at 11:59 PM on December 31, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">d) Stratean shall
render statements and make payments to Priest quarterly within sixty (60) days after the last day of each March, June, September
and December.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">e) All other
revenues generated by Stratean Inc. whether related to the Downdraft Gasifier or otherwise is explicitly excluded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">f) Priest has
the right upon written notice to assign its royalty rights to any designee until expiration.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">g) Stratean shall
be free to exercise all the rights of ownership of its property and intellectual property including the right to sale its intellectual
property and make licensing and sub-license agreements without consulting Priest and upon whatever terms it deems wise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;3.&#9;<U>Release and Satisfaction</U>.&#9;Upon receipt of the
Stock, Priest acknowledges and agrees that the Debt (including all interest, costs and attorney&rsquo;s fees associated therewith)
shall be deemed satisfied and paid in full. Priest agrees that, subject to receipt of the Stock, all claims of Priest against Stratean
Inc. and its management, shall be deemed released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;4.&#9;<U>Representations and Covenants of Stratean</U>.&#9;Stratean
represents and covenants to Priest as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;A.&#9;The issuance of the Stock has been duly authorized by
all required corporate action and, when issued, will be fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;B.&#9;If at any time Stratean decides, in its sole discretion,
to register securities with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;), Stratean agrees that it shall
cause the Stock to be registered along with whatever other securities it chooses to register on Form S-1, at no further cost to
Priest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;C.&#9;Stratean is the owner of the Patents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;5.&#9;<U>Acknowledgments and Representations of Priest</U>.&#9;Priest
represents and acknowledges as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">A.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">That Priest is the sole holder of the Debt, and has full power and authority to enter into
and perform the terms of this Agreement. Priest agrees and covenants not to institute or cause to be instituted any suit or other
form of action or proceeding of any kind or nature against Stratean, or its predecessors, assigns, successors, officers, directors,
agents, or affiliates to collect or attempt to collect the Debt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 76.5pt"><FONT STYLE="font-size: 10pt">B.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Intentionally left Blank.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">C.&#9;That:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(a)&#9;the Stock is &ldquo;restricted
securities&rdquo; as that term is defined in Rule 144 promulgated by the Commission under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), the resale of the Stock is restricted by federal and state securities laws and, accordingly,
the Stock must be held indefinitely unless its resale is subsequently registered under the Securities Act or an exemption from
such registration is available for its resale;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(b)&#9;Other than as contemplated herein,
Priest acknowledges that Stratean has not undertaken, and will have no obligation, to register any shares of the Stock under the
Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(c)&#9;By completing the Questionnaire,
attached hereto as Exhibit &ldquo;A,&rdquo; Priest is representing and warranting that it is an accredited investor as the term
is defined in Rule 501 of Regulation D under the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(d)&#9;The decision to execute this
Agreement and acquire the Stock agreed to be purchased hereunder has not been based upon any oral or written representation as
to fact or otherwise made by or on behalf of Stratean;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(e)&#9;Priest and Priest's advisor(s)
have had a reasonable opportunity to ask questions of and receive answers from Stratean in connection with the issuance of the
Stock hereunder, and to obtain additional information, to the extent possessed or obtainable without unreasonable effort or expense,
necessary to verify the accuracy of the information about Stratean;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(f)&#9;The books and records of Stratean
were available upon reasonable notice for inspection, subject to certain confidentiality restrictions, by Priest during reasonable
business hours at its principal place of business, and all documents, records and books in connection with the distribution of
the Stock hereunder have been made available for inspection by Priest, Priest's lawyer and/or advisor(s);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(g)&#9;Stratean is entitled to rely
on the representations and warranties of Priest contained in this Agreement and the Questionnaire;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(h)&#9;Priest will indemnify and hold
harmless Stratean and, where applicable, its directors, officers, employees, agents, advisors and shareholders, from and against
any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses
whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or
investigation whether commenced or threatened) arising out of or based upon any representation or warranty of Priest contained
in this Agreement, the Questionnaire or in any document furnished by Priest to Stratean in connection herewith being untrue in
any material respect or any breach or failure by Priest to comply with any covenant or agreement made by Priest to Stratean in
connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(i)&#9;Priest has been advised to consult
Priest's own legal, tax and other advisors with respect to the merits and risks of an investment in the Stock and with respect
to applicable resale restrictions, and it is solely responsible (and Stratean is not in any way responsible) for compliance with:
(i) any applicable laws of the jurisdiction in which Priest is resident in connection with the distribution of the Stock hereunder,
and (ii) applicable resale restrictions;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(j)&#9;Neither the Commission nor any
other securities commission or similar regulatory authority has reviewed or passed on the merits of the Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(k)&#9;No documents in connection with
the sale of the Stock hereunder have been reviewed by the Commission or any state securities administrators;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(l)&#9;Priest is aware that an investment
in Stratean is speculative and involves certain risks, including the possible loss of the entire investment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(m)&#9;Priest (i) has adequate net worth
and means of providing for its current financial needs and possible personal contingencies, (ii) has no need for liquidity in this
investment, and (iii) is able to bear the economic risks of an investment in the Stock for an indefinite period of time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(n)&#9;Priest (i) is able to fend for
itself; (ii) has such knowledge and experience in business matters as to be capable of evaluating the merits and risks of its prospective
investment in the Stock; and (iii) has the ability to bear the economic risks of its prospective investment and can afford the
complete loss of such investment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(o)&#9;Priest is not an underwriter
of, or dealer in, the common shares of Stratean, nor is Priest participating, pursuant to a contractual agreement or otherwise,
in the distribution of the Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(p)&#9;Priest is not aware of any advertisement
of any of the Stock and is not acquiring the Stock as a result of any form of general solicitation or general advertising including
advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over
radio or television, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(q)&#9;Priest acknowledges and agrees
that Stratean shall not consider the Priest's subscription for acceptance unless the undersigned provides to Stratean, along with
an executed copy of this Agreement: (i) a fully completed and executed Questionnaire in the form attached hereto as Exhibit A,
and (ii) such other supporting documentation that Stratean or its legal counsel may request to establish Priest's qualification
as a qualified investor.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[SIGNATURE PAGE FOLLOWS]</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">IN WITNESS WHEREOF, the parties have executed
this Agreement as on the day and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Stratean
Inc., a Nevada corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">By<U>/s/S.
Matthew Schultz</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">S.
Matthew Schultz, Its CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Burkeley
J. Priest, an Individual</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">By_<U>/s/
Burkeley J. Priest</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">__________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Its
________________________</P>

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<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<B>DEBT SETTLEMENT AGREEMENT&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Debt Settlement Agreement (the &ldquo;Agreement&rdquo;)
is made and entered into as of December 31, 2014, by and between Stratean Inc., a Nevada corporation (&ldquo;Stratean&rdquo;),
and The Munson Family Limited Partnership, an Nevada Limited Partnership (&ldquo;Munson&rdquo;), with respect to the following.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;A.&#9;Munson is the holder of a $16,659 Promissory Note (the
&ldquo;Debt&rdquo;) dated February 24, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;B.&#9;Stratean is the owner and holder of U.S. Patent No. 8,105,401
(&ldquo;Parallel Path, Downdraft Gasifier Apparatus and Method&rdquo;), and U.S. Patent No. 8,518,133 (&ldquo;Parallel Path, Downdraft
Gasifier Apparatus and Method&rdquo;) (the &ldquo;Patents&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;C.&#9;Stratean and Munson agree to settle and resolve the Debt
in full upon the following terms and conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<B>TERMS AND CONDITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;1.&#9;<U>Stock</U>.&#9;&#9;Promptly after execution of this
Agreement, Stratean shall cause to be issued to Munson 19,158 shares of Stratean Inc. $0.001 par value common stock (the &ldquo;Stock&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;2.&#9;<U>Royalty</U>.&#9;Stratean shall pay to Munson or his
designee a royalty(&quot;Royalty&quot;) of one-quarter of one percent(.25%) of &quot;Gross Revenues&quot; derived from the &quot;Sale
of Stratean Downdraft Gasifer Units&quot;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">a) &quot;Gross
Revenues&quot; are defined as the monies actually received by Stratean Inc. arising from the sale of its units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">b) &quot;Sale
of Stratean Downdraft Gasifer Units&quot; is defined as revenues received by Stratean as a direct result of the occurrence of a
sale of physical gasifier units to third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">c) The Royalty
shall have a life of 10 years and will expire at 11:59 PM on December 31, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">d) Stratean shall
render statements and make payments to Munson quarterly within sixty (60) days after the last day of each March, June, September
and December.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">e) All other
revenues generated by Stratean Inc. whether related to the Downdraft Gasifier or otherwise is explicitly excluded.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">f) Munson has
the right upon written notice to assign its royalty rights to any designee until expiration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">g) Stratean shall
be free to exercise all the rights of ownership of its property and intellectual property including the right to sale its intellectual
property and make licensing and sub-license agreements without consulting Munson and upon whatever terms it deems wise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;3.&#9;<U>Release and Satisfaction</U>.&#9;Upon receipt of the
Stock, Munson acknowledges and agrees that the Debt (including all interest, costs and attorney&rsquo;s fees associated therewith)
shall be deemed satisfied and paid in full. Munson agrees that, subject to receipt of the Stock, all claims of Munson against Stratean
Inc. and its management, shall be deemed released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;4.&#9;<U>Representations and Covenants of Stratean</U>.&#9;Stratean
represents and covenants to Munson as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;A.&#9;The issuance of the Stock has been duly authorized by
all required corporate action and, when issued, will be fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;B.&#9;If at any time Stratean decides, in its sole discretion,
to register securities with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;), Stratean agrees that it shall
cause the Stock to be registered along with whatever other securities it chooses to register on Form S-1, at no further cost to
Munson.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;C.&#9;Stratean is the owner of the Patents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;5.&#9;<U>Acknowledgments and Representations of Munson</U>.&#9;Munson
represents and acknowledges as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">A.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">That Munson is the sole holder of the Debt, and has full power and authority to enter into
and perform the terms of this Agreement. Munson agrees and covenants not to institute or cause to be instituted any suit or other
form of action or proceeding of any kind or nature against Stratean, or its predecessors, assigns, successors, officers, directors,
agents, or affiliates to collect or attempt to collect the Debt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 76.5pt"><FONT STYLE="font-size: 10pt">B.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Intentionally left Blank.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">C.&#9;That:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(a)&#9;the Stock is &ldquo;restricted
securities&rdquo; as that term is defined in Rule 144 promulgated by the Commission under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), the resale of the Stock is restricted by federal and state securities laws and, accordingly,
the Stock must be held indefinitely unless its resale is subsequently registered under the Securities Act or an exemption from
such registration is available for its resale;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(b)&#9;Other than as contemplated herein,
Munson acknowledges that Stratean has not undertaken, and will have no obligation, to register any shares of the Stock under the
Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(c)&#9;By completing the Questionnaire,
attached hereto as Exhibit &ldquo;A,&rdquo; Munson is representing and warranting that it is an accredited investor as the term
is defined in Rule 501 of Regulation D under the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(d)&#9;The decision to execute this
Agreement and acquire the Stock agreed to be purchased hereunder has not been based upon any oral or written representation as
to fact or otherwise made by or on behalf of Stratean;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(e)&#9;Munson and Munson's advisor(s)
have had a reasonable opportunity to ask questions of and receive answers from Stratean in connection with the issuance of the
Stock hereunder, and to obtain additional information, to the extent possessed or obtainable without unreasonable effort or expense,
necessary to verify the accuracy of the information about Stratean;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(f)&#9;The books and records of Stratean
were available upon reasonable notice for inspection, subject to certain confidentiality restrictions, by Munson during reasonable
business hours at its principal place of business, and all documents, records and books in connection with the distribution of
the Stock hereunder have been made available for inspection by Munson, Munson's lawyer and/or advisor(s);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(g)&#9;Stratean is entitled to rely
on the representations and warranties of Munson contained in this Agreement and the Questionnaire;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(h)&#9;Munson will indemnify and hold
harmless Stratean and, where applicable, its directors, officers, employees, agents, advisors and shareholders, from and against
any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses
whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or
investigation whether commenced or threatened) arising out of or based upon any representation or warranty of Munson contained
in this Agreement, the Questionnaire or in any document furnished by Munson to Stratean in connection herewith being untrue in
any material respect or any breach or failure by Munson to comply with any covenant or agreement made by Munson to Stratean in
connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(i)&#9;Munson has been advised to consult
Munson's own legal, tax and other advisors with respect to the merits and risks of an investment in the Stock and with respect
to applicable resale restrictions, and it is solely responsible (and Stratean is not in any way responsible) for compliance with:
(i) any applicable laws of the jurisdiction in which Munson is resident in connection with the distribution of the Stock hereunder,
and (ii) applicable resale restrictions;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(j)&#9;Neither the Commission nor any
other securities commission or similar regulatory authority has reviewed or passed on the merits of the Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(k)&#9;No documents in connection with
the sale of the Stock hereunder have been reviewed by the Commission or any state securities administrators;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(l)&#9;Munson is aware that an investment
in Stratean is speculative and involves certain risks, including the possible loss of the entire investment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(m)&#9;Munson (i) has adequate net worth
and means of providing for its current financial needs and possible personal contingencies, (ii) has no need for liquidity in this
investment, and (iii) is able to bear the economic risks of an investment in the Stock for an indefinite period of time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(n)&#9;Munson (i) is able to fend for
itself; (ii) has such knowledge and experience in business matters as to be capable of evaluating the merits and risks of its prospective
investment in the Stock; and (iii) has the ability to bear the economic risks of its prospective investment and can afford the
complete loss of such investment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(o)&#9;Munson is not an underwriter
of, or dealer in, the common shares of Stratean, nor is Munson participating, pursuant to a contractual agreement or otherwise,
in the distribution of the Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(p)&#9;Munson is not aware of any advertisement
of any of the Stock and is not acquiring the Stock as a result of any form of general solicitation or general advertising including
advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over
radio or television, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(q)&#9;Munson acknowledges and agrees
that Stratean shall not consider the Munson's subscription for acceptance unless the undersigned provides to Stratean, along with
an executed copy of this Agreement: (i) a fully completed and executed Questionnaire in the form attached hereto as Exhibit A,
and (ii) such other supporting documentation that Stratean or its legal counsel may request to establish Munson's qualification
as a qualified investor.&#9;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[SIGNATURE PAGE FOLLOWS]</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">IN WITNESS WHEREOF, the parties have executed
this Agreement as on the day and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Stratean
Inc., a Nevada corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">By<U>/s/S.
Matthew Schultz</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">S.
Matthew Schultz, Its CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">The
Munson Family Limited Partnership, a Nevada Limited Partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">By<U>/s/Gerald
Rice</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Gerald
Rice, Its Manager</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>



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