On January 25, 2012 Options Media Group Holdings, Inc. entered into an Agreement and Plan of Merger with Illume Software, Inc. As of March 16, 2012, the company and Illume decided to terminate the Merger Agreement and instead proceeded with a licensing arrangement for Illume's iZup enterprise software pursuant to which the company has received licenses for six enterprise customers. In connection with the termination of the Merger Agreement, on March 16, 2012, Leo J. Hindery, Jr., an Illume shareholder who was appointed to the company's Board of Directors in anticipation of the merger, resigned from the company's Board of Directors. Mr. Hindery advised the company that his resignation was necessary due to a conflict of interest created by the termination of the Merger Agreement and his continuing position with Illume.