Ucansi Inc. agreed to acquire Autovative Products, Inc (XOTC:ATVP) in a reverse merger transaction on June 26, 2013. As per the deal, Autovative Products will acquire all the share of Ucansi by issuing 40 million shares after giving effect to a 7.5-for-1 forward split. Additionally, pursuant to the merger agreement, upon consummation of the merger, Autovative will assume all of Ucansi's options and warrants issued and outstanding immediately prior to the merger and issue to the holders of such securities in exchange therefor options and warrants to acquire approximately 9,019,872 and 7,523,504 shares of common stock, respectively, in each case after giving effect to the forward split. Following the merger, Ucansi's current stockholders would hold approximately 80% of Autovative Products. Autovative Products will change its name to GlassesOff Inc. after the closing. Additionally, upon consummation of the merger, Autovative Products' current sole Officer and Director will resign, and new Directors and Executive Officers will be appointed. Shai Novik, Nimrod Madar, Uri Polat, Ram Shaffir are the nominees for Boards of Directors of Autovative Products Inc.

The Boards of Ucansi and Autovative have approved the deal. The deal is subject to customary closing conditions, approval of Ucansi's shareholders, resignation of officers and directors of Autovative Products, completion of split-off transaction, third party approvals, completion of concurrent financing, and Israeli Tax Authority approval. The deal is expected to close during the third quarter of 2013.

The deal was amended on July 2, 2013, in which each share of Ucansi common stock shall be converted into the right to receive 7.674 shares and each share of Series A-6 Preferred Stock shall be converted into the right to receive 7.724 of Autovative Products. Robert L. Grossman of Greenberg Traurig, P.A. acted as legal advisor to Ucansi Inc.

Ucansi Inc. completed the acquisition of Autovative Products, Inc (XOTC:ATVP) in a reverse merger transaction on July 30, 2013. Upon consummation of merger, the surviving entity will continue to trade as GlassesOff Inc. and the trading symbol will also change soon.

Ucansi Inc. completed the acquisition of Autovative Products, Inc (XOTC:ATVP) in a reverse merger transaction on July 30, 2013. Upon consummation of merger, the surviving entity will continue to trade as GlassesOff Inc. and the trading symbol will also change soon.