Engenavis Inc. offered to acquire stake in iQ Power Licensing AG on April 4, 2018. Share exchange agreements will be signed with the shareholders of iQ Power Licensing AG. The transaction will also involve as a private placement, limited to 10 subscribers including Engenavis, whereas Engenavis will take at least 200 million shares. The Transaction was financed by 14 million mezzanine facility provided by ExWorks Capital. Following the transaction, the new company will be named iQ Power Technologies AG which will apply to be listed as soon as possible in 2018 on the OTC in the USA and/or an OTC in Germany. The shares of iQ Power Licensing will be de-listed around the same time as the new listing for iQ Power Technologies AG comes into force. Shares not exchanged will continue to be valid, but cannot be traded on a public stock exchange thereafter. A break-up fee of $300 has been agreed for both parties. As of April 27, 2018, share exchange agreements have been signed to exchange over 170 million shares of iQ Power Licensing for shares of Engenavis at a ratio of 1 share of Engenavis for each 34.126 shares of iQ Power Licensing. Combined with the share purchase of 200 million shares by Engenavis in the capital increase, Engenavis will possess approximately 67% stake in iQ Power Licensing AG. Due Diligence process is expected to be completed by the end of May, 2018. Matthew M. Holman of Squire Patton Boggs LLP acted as legal advisor for Engenavis. On September 7, 2018, iQ Power Licensing AG announced that the Board of Directors has approved the amalgamation with Engenavis Inc.. The technology section for no emission waste and used tire recycling as well as the other business units, will be 100% owned subsidiaries of future iQ Power Technologies AG. A bridge loan of $14 million to iQ Power Licensing AG to fund the new company and business expansion to be followed by a large equity capital. For this effort, Scott Anchin an experienced capital markets professional will be a Board Member and interim chief financial officer. After the transaction, iQ Power shareholders will have approximately 49% of the new company, compared to 40% planned previously, and Engenavis will have approximately 51% of the new company. In order to have an optimal number of shares in the new company, iQ Power Technologies AG, a reverse split of 23:1 is planned. To accomplish the reverse split, it is necessary to move the company headquarters to the Canton of Zurich. Engenavis Inc. completed the acquisition of a stake in iQ Power Licensing AG on November 8, 2018. Post the acquisition of stake, combined with additional share purchase by Engenavis in the capital increase, Engenavis now holds 344.49 million shares of iQ Power, representing 50.2% total outstanding shares of iQ Power Licensing.