Wowio, Inc. (OTCPK:WWIO) entered into a binding letter of intent to acquire Pact Enterprises, Inc. on December 12, 2017. The purchase price is being paid is $0.1 million paid over thirty-six months commencing June 2018 and Convertible Preferred Stock that will convert to 1.2 billion shares in WWIO. There are currently mortgages of $0.63 million on the property and other liabilities of approximately $0.05 million which WWIO will assume. In a separate transaction, Wowio will also acquire property of the restaurant from Pact Holdings AZ, LLC. The land, building and restaurant have a value of approximately $1.1 million. Under the transaction, WWIO is purchasing the land and buildings and the restaurant business located in the building. The sellers will hold a UCC filing over the stock and member units of both Pact Enterprises and Pact Holdings until the cash portion is fully paid. Wowio, Inc. (OTCPK:WWIO) cancelled the acquisition of Pact Enterprises, Inc. on December 12, 2018.