Preprogen LLC entered into an agreement to acquire certain assets from QuantRx Biomedical Corporation (OTCPK:QTXB) for $1.4 million on December 14, 2017. Under the transaction, $1 million is paid in cash and Preprogen will issue 15% of the issued and outstanding membership interests on a fully diluted basis to QuantRx. The cash of $1 million distribution as follows: approximately $38,000 was paid to the City of Portland to payoff certain indebtedness owned by QuantRx, $65,000 was paid to Preprogen as a result of the cancellation and termination of certain promissory notes payable to Preprogen and remaining balance was paid at the closing of the transaction. Under the terms of the transaction, Preprogen is obligated to pay to the QuantRx based on the aggregate gross revenue generated by Preprogen from the sale of products after the closing date. As additional consideration for the purchased assets, QuantRx issued a warrant to Preprogen’s designee, to purchase up to 15 million shares at an exercise price equal to $0.05 per share. Preprogen LLC completed the acquisition of certain assets from QuantRx Biomedical Corporation on December 15, 2017.