Intercontinental Technology, Inc. (OTCPK:RCGR) signed a letter of intent to acquire substantially all assets of Simple Cork, Inc. on November 29, 2017. Intercontinental Technology, Inc. (OTCPK:RCGR) entered into an asset purchase agreement to acquire substantially all assets of Simple Cork, Inc. on January 31, 2018. Under the terms of the agreement, Intercontinental Technology will assume liabilities of Simple Cork, distribute common shares of newly issued share class of Intercontinental in the ratio of one common share of Intercontinental for 5,000 common shares of Simple Cork. The holders of the series A preferred stock of Simple Cork will not receive any shares of any class of capital stock of Intercontinental and the holders of series B preferred stock will receive one share of Intercontinental's series B preferred stock for every one share of series B preferred stock. As of November 29, 2017, the transaction is expected to close by December 29, 2017. As of December 26, 2017, the transaction is expected to close not later than January 31, 2018. Intercontinental Technology, Inc. (OTCPK:RCGR) completed the acquisition of substantially all assets of Simple Cork, Inc. on January 31, 2018.