Italian Food and Beverage Corporation entered into a letter of intent to acquire Blast Applications, Inc. in a reverse merger transaction.

Italian Food and Beverage Corporation entered into a letter of intent to acquire Blast Applications, Inc. (OTCPK:BLAP) in a reverse merger transaction on July 21, 2014. After the completion of the transaction, shareholders will be informed of the new structure. The parties have agreed to enter into a period of due diligence to take their presently successful working partnership to the next level.

BLAP will be moved off of the OTC market. As of February 28, 2015, Blast Applications entered into a stock exchange purchase agreement with Italian Food and Beverage Corporation (IFBC) to exchange 10 million preferred shares valued at $3 million for 100% of the issued and outstanding shares of Italian Food and Beverage Corporation and will be accounted for as a reverse acquisition.