FV Corporation entered into share exchange agreement to acquire Sputnik Enterprises, Inc. (OTCPK:SPNI) in a reverse merger transaction on February 5, 2016. Sputnik agreed to issue to the shareholders of FV an aggregate of 45.2 million shares of common stock and such number of shares of Series A convertible preferred stock that convert into an additional 45.2 million shares of common stock of Sputnik in exchange for the transfer of all of the issued and outstanding shares of the common stock of FV to Sputnik. Each FV shareholder's share that is issued and outstanding immediately before the closing shall entitle the holder thereof to receive one share of Sputnik common stock and 0.0001 shares of Sputnik preferred stock which equates to one share of common stock such that when all shares of common stock and Sputnik preferred stock have been issued under this agreement and all preferred stock issued under this agreement have been converted to common stock, an aggregate of 90.34 million shares of Sputnik common stock shall have been issued to FV's shareholders under this agreement. The transaction is subject to approval of FV Corporation's shareholders and completion of financial audit of FV Corporation. The Board of Directors of FV Corporation and Sputnik Enterprises, Inc., have determined that the transaction is in the best interests of both FV Corporation and Sputnik Enterprises, Inc. The transaction is expected to close on or before June 30, 2017. FV Corporation completed the acquisition of Sputnik Enterprises, Inc. (OTCPK:SPNI) in a reverse merger transaction on June 26, 2017. As part of the completion of the transaction, Sputnik issued 44.4 million of restricted common stock to FV shareholders and the equivalent of 44.4 million of restricted Common Stock in the form of Series A preferred shares. Immediately after the issuance of the shares, Sputnik had 45.4 million shares issued and outstanding, of which 44.4 million are owned by FV shareholders. There was no change in the Executive Officer and Director of Sputnik and Anthony Gebbia remains as the Executive Officer and Director after closing. As of June 26, 2017, the shareholders of FV approved the transaction.