Carl Data Solutions Inc. (DB:7C5) entered into letter of intent to acquire InfoCube Technology Limited for CAD 0.17 million on March 31, 2020. In consideration, Carl Data Solutions will issue 1.25 million common shares to the current shareholders of InfoCube in exchange for all of InfoCube's issued and outstanding shares. There are also two incentive/performance clauses to the deal where on the third anniversary of the closing of the transaction if InfoCube's EBITDA in its most recently completed fiscal year is greater than CAD 0.38 million, Carl will issue additional common shares to the Vendors equal to 3 times the amount calculated as the EBITDA minus CAD 0.38 million divided by its Share Price. In addition to this, if at the third anniversary, InfoCube's EBITDA in its most recently completed fiscal year is greater than CAD 2 million, Carl will issue additional common shares to the Vendors equal to 4 times the amount calculated as the EBITDA minus CAD 2 million divided by its Share Price. On August 13, 2020, the acquisition details remain unchanged and the deal is set to go ahead with a new closing date of no later than August 30, 2020. The acquisition includes all current hardware and software technology contracts in addition to any projects under negotiation. The terms are subject to a satisfactory outcome of the due diligence process now underway by both companies. Carl Data Solutions Inc. (DB:7C5) cancelled the acquisition of InfoCube Technology Limited on September 4, 2020.