CrowdGather, Inc. (OTCPK:CRWG) entered into an agreement to acquire Plaor Inc. for $5.2 million in stock on May 1, 2014. As a consideration, 55.1 million outstanding shares of Plaor will be converted into common stock of CrowdGather for one validly issued of Plaor. Post acquisition, Plaor will survive as the wholly-owned subsidiary of CrowdGather. The transaction is subject to approval by regulatory authority, third party, CrowdGather's Board of Directors, its Series B preferred stockholders and Plaor's shareholders. The closing is expected to be on or before May 15, 2014. Michael J. Muellerleile of M2 Law acted as the legal advisor to CrowdGather. Michael A. Littman acted as the legal advisor to Plaor.

CrowdGather, Inc. (OTCPK:CRWG) completed the acquisition of Plaor Inc. on May 19, 2014. Plaor Inc reported total assets of $0.55 million and net liability of $0.38 million as of January 31, 2014. Plaor Inc. had revenues of $0.24 million, operating loss and net loss of $8.71 million for the year ending January 31, 2014. CrowdGather entered into lock up agreement with the shareholders of Plaor Inc.