An existing stockholder agreed to acquire additional stake of National Lampoon Inc. from Brian A. Bash for $0.75 million on May 3, 2017. The transaction is subject to bankruptcy court approval and completion of National Lampoon asset sale. As of May 12, 2017, bankruptcy court approved the transaction. An existing stockholder cancelled the acquisition of additional stake of National Lampoon Inc. from Brian A. Bash on May 3, 2018.