EX-5.1 2 dex51.htm OPINION OF FOLEY & LARDNER Opinion of Foley & Lardner

Exhibit 5.1

 

 

LOGO

 

 

 

 

 

 

 

 

October 31, 2006

  

FOLEY & LARDNER LLP

ATTORNEYS AT LAW

 

100 NORTH TAMPA STREET, SUITE 2700

TAMPA, FL 33602-5810

P.O. BOX 3391

TAMPA, FL 33601-3391

813.229.2300 TEL

813.221.4210 FAX

www.foley.com

 

CLIENT/MATTER NUMBER

044473-0119

InterSearch Group, Inc.

222 Kearny Street, Suite 550

San Francisco, CA 94108

Ladies and Gentlemen:

You have requested our opinion with respect to certain matters in connection with the filing by InterSearch Group, Inc. (the “Company”) of a Registration Statement (No. 333-137242) on Form SB-2 (as amended, the “Registration Statement”), with the Securities and Exchange Commission (the “Commission”), including the related prospectus to be filed with the Commission pursuant to Rule 424(b) of Regulation C (the “Prospectus”) under the Securities Act of 1933, as amended, and the sale from time to time by the selling shareholders named in the Registration Statement (the “Selling Shareholders”) of up to 4,285,095 shares (the “Shares”) of the Company’s common stock, $0.001 par value per share (“Common Stock”), in the manner set forth in the Registration Statement. The Shares consist of 3,060,698 issued shares of Common Stock (the ”Issued Shares”) and 1,224,397 shares of Common Stock issuable upon exercise of warrants (the ”Issuable Shares”).

In connection with this opinion, we have examined and relied upon the Registration Statement and related Prospectus; the Company’s Amended and Restated Articles of Incorporation (as amended); the Company’s Amended and Restated Bylaws; and minutes, resolutions and records of the Company’s Board of Directors authorizing the issuance of the Shares subject to the Registration Statement, together with certain related matters, and we have considered such matters of law and of fact, including the examination of originals or copies, certified or otherwise identified to our satisfaction, of such records, documents, certificates, and other instruments of the Company, certificates of officers, directors and representatives of the Company, certificates of public officials, and such other documents as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness and authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies thereof, and the due execution and delivery of all documents where due execution and delivery are a prerequisite to the effectiveness thereof.

The opinions set forth in this letter are limited solely to the laws of the State of Florida, and we express no opinion as to the laws of any other jurisdiction. This letter has been prepared and is to be construed in accordance with the Reports on Standards for Opinions of Florida Legal Counsel for Business and Real Estate Transactions (September 1998) (the “Report”) and the Report is incorporated by reference in this letter.

 

BOSTON

BRUSSELS

CHICAGO

DETROIT

  

JACKSONVILLE

LOS ANGELES

MADISON

MILWAUKEE

   NEW YORK
ORLANDO
SACRAMENTO
SAN DIEGO
   SAN DIEGO/DEL MAR
SAN FRANCISCO
SILICON VALLEY
TALLAHASSEE
   TAMPA
TOKYO
WASHINGTON, D.C.
WEST PALM BEACH


InterSearch Group, Inc.

October 31, 2006

Page 2

Based upon the foregoing, and in reliance thereon, we are of the opinion that the Issued Shares covered by the Registration Statement that are to be offered and sold from time to time by the Selling Shareholders have been duly authorized, validly issued, and are fully paid and nonassessable. Based upon the foregoing, and in reliance thereon, we are of the opinion that the Issuable Shares covered by the Registration Statement that are to be offered and sold from time to time by the Selling Shareholders have been duly authorized and, when the Issuable Shares have been issued in accordance with the terms of the applicable Warrant Agreement, upon receipt of the consideration contemplated thereby, will be validly issued, fully paid and nonassessable. We consent to the reference to our firm under the caption “Legal Matters” in the Prospectus included in the Registration Statement and to the filing of this opinion as an exhibit to the Registration Statement. In giving our consent, we do not admit that we are “experts” within the meaning of Section 11 of the Securities Act or within the category of persons whose consent is required by Section 7 of the Securities Act.

 

Very truly yours,

 

/s/ Foley & Lardner LLP

 

Foley & Lardner LLP