Precious Investments, Inc. (OTCPK:PNIK) entered into a non-binding Letter of Intent to acquire Recommerce Group, Inc. on February 20, 2018. The Letter of Intent had a termination date of March 30, 2018. Pursuant to the Letter of Intent, the Precious Investments, Inc. agreed to acquire the issued and outstanding stock in Recommerce in exchange for the issuance of its Series D Preferred Stock that, upon conversion, will convert into 129.07 million shares of common stock. Precious Investments, Inc. would secure bridge financing of $1.034 million which will come in the form of a secured promissory note, and which will be secured by the assets of Precious Investments and further secured with a guarantee and pledge of 1 million shares of Series C Preferred Stock of Precious Investments held by James Zimbler, the Precious Investments Inc.’s officer and director. On April 4, 2018, Recommerce notified Precious Investments that the Letter of Intent expired as of March 30, 2018. Notwithstanding, Precious Investments and Recommerce continues to engage in discussions about extending the expiration date of the Letter of Intent. Precious Investments, Inc. (OTCPK:PNIK) cancelled the acquisition of Recommerce Group, Inc. on April 4, 2018.