QED Connect, Inc. (OTCPK:QEDN) signed a letters of intent to acquire Terra Resources and Kuma Oil from Magna Resources Corp. on August 2, 2012. In a related transaction, QED Connect entered into a letters of intent to purchase Kyrzyg Alumina. Definitive agreement is expected to close within the next 75 days pending due diligence and approval of any regulatory agencies. The transaction also requires approval from QED, Terra, and Kuma's Board of Directors. As on January 29, 2013, QED Connect, Inc has signed definitive agreement to acquire Kuma Oil from Magna Resources Corp. The closing is expected within 60 days pending final due diligence. On March 25, 2013, QED entered into an agreement with Yellow7 assigning all of QED's rights, title, and interest in the acquisition of Kuma Oil. The consideration paid by Yellow7 to QED for the assignment was 54.6 million shares of common stock of Yellow7.

QED Connect, Inc. (OTCPK:QEDN) cancelled the acquisition of Terra Resources and Kuma Oil from Magna Resources Corp. on August 2, 2013.