OneMedia Enterprises Limited entered into a Share Exchange Agreement to acquire Oculus Inc. in a reverse merger transaction on May 8, 2017. As per the terms of the agreement Oculus Inc. will acquire 100% of the issued and outstanding equity of OneMedia and in exchange Oculus shall issue to OneMedia an aggregate of 40 million shares of post-forward split common stock of Oculus and 5 million shares of Oculus Series A preferred shares. Post closing, One Media shall become a wholly owned subsidiary of Oculus. The closing of the transaction is subject to conditions including obtaining regulatory approval, approval by shareholders of One Media, Oculus completing the name change to reflect the post transaction of the business, Oculus completes a two-for-one (2:1) forward split of its common stock, Oculus increasing its authorized shares of common stock from 200 million to 500 million, Oculus facilitating the cancellation of 35 million shares of its restricted common stock and such stock is returned to its treasury and One Media provides Oculus with audited financial statements, with such financial statements being prepared by an independent accounting firm registered with the Public Company Accounting Oversight Board (PCAOB). OneMedia Enterprises Limited completed the acquisition of Oculus Inc. in a reverse merger transaction on December 4, 2017.