Pulse Entertainment Corporation entered into a letter of intent to acquire Pulse Evolution Corporation (OTCBB:PLFX) from (Alternative)2 Holding AG, Tradition Studios IP Acquisition LLC, Scenic Loop Holding, LLC, Jim Berney, Aaron Blaise and others in a reverse merger transaction on May 16, 2014. Pulse Entertainment Corporation entered into a share exchange agreement to acquire Pulse Evolution Corporation on September 26, 2014. Under the terms of agreement, Pulse Evolution Corporation will issue stock up to 58.36 million shares before giving effect to the Forward Stock Split. The transaction subject to customary representations and warranties including the approval of the holders of not less than 51% of the Pulse Entertainment common stock and Pulse Entertainment's completion of an audit of its June 30, 2014 financial statements, approval of shareholders of Pulse Entertainment Corporation, approval of Board of Directors and shareholders of Pulse Evolution Corporation, third party consents and approval of the Corporate Actions by FINRA.

The transaction is expected to close by October 31, 2014. On September 30, 2014, Pulse Evolution completed the initial closing under the share exchange agreement pursuant to which 35.83 million shares were issued to the shareholders of Pulse Entertainment in exchange for 17.47 million shares of its common stock. Pulse Evolution Corporation plan to complete the acquisition of an additional 4.07 million shares of Pulse Entertainment common stock by issuing 22.54 million shares of Pulse Evolution common stock no later than October 31, 2014. Bradley B. Eavenson of Eavenson, Fraser, Lunsford & Evans, LP acted as legal advisor for Pulse Evolution Corporation.