12 Retech Corporation (OTCPK:DVGG.D) entered into a letter of intent to acquire 51% interest in J. Peterman Company, LLC for $0.21 million on December 1, 2017. 12 Retech will issue 1 million of its common shares at closing. J. Peterman reported revenues of $20 million in 2017. All existing members of the J. Peterman management team will remain post acquisition. The closing is subject to the resolution of J. Peterman’s existing 1 million convertible note, completion of due diligence and execution of the definitive agreement. 12 Retech Corporation (OTCPK:DVGG.D) cancelled the acquisition of 51% interest in J. Peterman Company, LLC on June 30, 2019.