TPT Strategic Inc. (OTCPK:INOQ) entered into a definitive agreement to acquire Information Security and Training LLC from Everett Lanier on July 7, 2022. The TPT Strategic and IST LLC agreement for the acquisition was a TPT Strategic stock transaction, except for the assumption of assets and liabilities, where the founder and sole interest holder Everett Lanier is to receive 2 million common shares of TPT Strategic, after capital restructuring, and the assumption of all assets and liabilities which approximate $1.6M and $1.2M, respectively, as of December 31, 2021. Everett Lanier, after closing and finalizing an agreed upon employment agreement, will become the President and a board member of TPT Strategic.

The issuance of the acquisition shares is estimated to be approximately 10% of the proposed outstanding common shares for TPT Strategic with TPT Global Tech controlling over 50% of TPT Strategic through the Series A Preferred Super Majority Voting Stock. Closing is to occur upon customary conditions being met which in large part relates to the completion of audits necessary under requirements of the Securities and Exchange for inclusion into TPT Strategic and TPT Global Tech consolidated financial statements. Unaudited revenues and net income for ITS the year ended December 31, 2021 were approximately $2.8 million and $167,000 respectively.