QED Connect, Inc. (OTCPK:QEDN) acquired 59.8% stake in Yellow7, Inc. (OTCPK:YLLC) from Jason Burgess and Jon Burgess for $0.16 million in cash and stock in December 2012. QED purchased 110.9 million shares of Yellow7 for $0.1 million and 2.7 million shares of QED. The transaction's cash consideration was funded from private investors. Jason Burgess resigned as President, Chief Executive Officer and Director while Jon Burgess resigned as Chief Financial Officer and Director. Jason Burgess and Jon Burgess will remain in place to manage Yellow7's current business through its subsidiary, Yellow7 Interactive LLC. M. Thomas Makmann, QED's Chief Executive Officer was appointed as President, Chief Executive Officer and Director of Yellow7.

QED Connect, Inc. (OTCPK:QEDN) completed the acquisition of 59.8% stake in Yellow7, Inc. (OTCPK:YLLC) from Jason Burgess and Jon Burgess in December 2012.