Infrastructure Developments Corp. (OTCPK:IDVC) signed a memorandum of understanding to acquire Bidlive Management FZE from its founders on June 14, 2016. As per the terms, the purchase consideration includes an issuance of a nominal amount of Infrastructure Developments treasury stock to Bidlive founders and a future performance based stock earn-out. Infrastructure Developments Corp. completed the acquisition of Bidlive Management FZE from its founders on August 23, 2016. Infrastructure Developments Corp. (OTCPK:IDVC) cancelled the acquisition of Bidlive Management FZE from its founders effective March 27, 2017. The acquisition closed on August 23, 2016, but was immediately reversed by mutual agreement due to disagreement over funding.