An undisclosed buyer entered into agreement in principle to acquire substantially all of assets of National Lampoon Inc..

Double Secret Enterprises Inc, formerly National Lampoon, Inc., is engaged in the comedy publication business. The Company publishes National Lampoon, a humor magazine and Animal House, a comedy film, as well as franchises films, such as Vacation and Van Wilder. The Company publishes various magazines on cartoons, which include Texas Green Energy, Off Leash Hours, Cologne, High Stakes Knitting, Olympic Beginnings, Sciencey Tales, Baby Change Station, Hillary Clinton and the Pantsuit of Destiny, Unenjoyable Sandcastles, Funny Ending, Prince and Window Art. The Company also publishes magazines on Chinese vacation, including Beijing pt 1, Beijing pt 2, Beijing pt 3, Beijing pt 4, Xi'an pt 1, Xi'an pt 2, Xi'an pt 3, Xi'an pt 4, Shanghai pt 1, Shanghai pt 2, Shanghai pt 3, Shanghai pt 4, Shanghai pt 5 and Last Chapter. The Company has approximately 250 original magazines.