Acquired Sales Corp. (OTCPK:AQSP) entered into letter of intent to acquire Farms E-Liquid, LLC for $45.6 million on September 1, 2021. The letter of intent contemplates an aggregate merger consideration payable by AQSP to the owners of Fresh Farms consisting of $14.2 million in cash, plus 7,083,334 shares of AQSP's unregistered common stock based upon the $4.44 closing price per share of AQSP common stock on September 1, 2021, for an aggregate merger consideration of $45.6 million.

Acquired Sales will use the cash flow generated by the its subsidiaries to fund the some portion of cash consideration in the form of debt. If the transaction closes, Fresh Farms will operate as a wholly owned subsidiary of LFTD Partners Inc. Anthony J. Devincentis, Jakob M. Audino, Forrest F. Town and John Z. Petti, co-founders and co-owners of Fresh Farms, will continue to serve as the CEO, Sales Manager, Director of Sales, and as a member of the Board of Directors of Fresh Farms and as a consultant to Fresh Farms, respectively, under multi-year employment agreements, and Anthony J. Devincentis will join AQSP's internal executive steering committee. Farms E-Liquid generated total revenue of $8 million for the year ended 2020.

Pursuant to the terms of the letter of intent, AQSP's planned acquisition of Fresh Farms is subject to a number of conditions, including but not limited to completion of an acceptable due diligence investigation and audit of Fresh Farms, completion of a capital raise of at least $50 million by AQSP, execution of definitive acquisition documents, receipt of a tax opinion on the Fresh Farms merger, obtaining all necessary approvals, and the completion of all necessary securities filings. The acquisition will not close unless all of these conditions are met, which cannot be guaranteed to occur. Acquired Sales expect the transaction will be accretive to AQSP's earnings per share.