Biosign Technologies Inc. (OTCPK:BITK.F) executed a term sheet to acquire 51% stake in QLINE Solutions Inc. for $1.5 million in cash and stock on July 11, 2013. Biosign will pay $0.63 million in cash and issue 18 million common shares. QLINE has trailing annual unaudited revenues of approximately $1 million and unaudited EBITDA estimated at approximately $0.4 million. The term sheet is subject to due diligence review, financing, board and regulatory approvals. Subject to satisfying such conditions, the transaction will be consummated by September 30, 2013.

Biosign Technologies Inc. (OTCPK:BITK.F) executed an amended term sheet to acquire 72% stake in QLINE Solutions Inc. for $2.7 million in cash and stock on October 8, 2013. Biosign Technologies increased the stake to be acquired in QLINE by 21%. The Biosign will pay $0.63 million in cash and issue 31 million common shares. As per the terms of agreement, Biosign also retains the option to acquire the remaining 28% of QLINE for $.82 million. The transaction is subject to final approval of the board of directors, receipt of all necessary regulatory approval, and satisfaction of financing conditions. Biosign Technologies signed a share purchase agreement to acquire QLINE Solutions for $3 million. The purchase consideration was satisfied by way of $0.8 million in cash, to be paid pursuant to a Promissory Note from Biosign to the vendors, which stipulates payment in tranches between February 28, 2014 and May 31, 2014 and by the issuance of 44 million common shares of Biosign.

As of March 31, 2014, TSX Venture Exchange has accepted for filing documentation regarding the transaction. WEIGEL Corporate Finance acted as the financial advisor in the transaction. Biosign Technologies Inc. (OTCPK:BITK.F) completed the acquisition of QLINE Solutions Inc. on November 4, 2014.

Biosign Technologies Inc. (OTCPK:BITK.F) cancelled the acquisition of QLINE Solutions Inc. on January 26, 2015.