Quanta, Inc. (OTCPK:QNTA) entered into a Securities Exchange Agreement to acquire 51% stake in Medolife International, Inc. on December 21, 2020. In exchange, Quanta will issue 9,000 shares newly created Series B Convertible Preferred Stock, which, once issued to Medolife Rx designees upon closing, shall be convertible into 54% of the issued and outstanding shares of the company’s common stock on a fully converted basis. Each share of Series B Preferred Stock shall be convertible into 6,750 shares of common stock at the option of a holder. In connection with the Securities Exchange Agreement, the company shall also issue 1,000 shares of newly created Series C Convertible Preferred Stock, which, once issued to certain Medolife Rx designees upon closing, shall have a par value of $0.00001 per share and a stated value of $100 per share and each Series C Preferred Share shall be convertible into 6,750 shares of common stock, at the option of a Holder. Arthur G. Mikaelian was appointed as a member of the Board of Directors of Quanta, Inc and was also appointed to serve as the company’s Chief Executive Officer. He joins Phil Sands on the company’s Board, and Phil Sands will resign from his position as Chief Executive Officer but will continue to serve as the Quanta's President and Director. The acquisition is subject to customary due diligence by both parties, and to the approval of Quanta, Inc. board and shareholders. The Board of Directors approved the creation and issuance of Series B Preferred and Series C Preferred shares by Unanimous Written Consent. The Board also received the Majority Shareholder’s Consent from Phil Sands, holder of 2,500,000 shares of our Series A Preferred Stock, approving the creation and issuance of Series B Preferred and Series C Preferred Stock. As of January 14, 2021, the Board of Directors of Quanta approved the issuance of all 9,000 of the 9,000 authorized shares of Series B Convertible Preferred Stock and the issuance of all 1,000 authorized shares of Series C Convertible Preferred Stock to Medolife Rx Designees.