Puget Technologies, Inc. (OTCPK:PUGE) entered into a letter of intent to acquire 50% stake in D & D Rehab Center, Inc. on August 11, 2021. As proposed, Puget would acquire D & D in two stages, first, a 50% interest in exchange for $1.5 million in cash equivalents and $1.5 million in unregistered shares of Puget's Class B Convertible Preferred Stock, $0.001 par value, and second, with an option to acquire the balance of D & D's securities at the same price and comparable terms within one year after the initial closing. In addition to the Puget shares received by the former D & D equity holders, during the initial two years following the proposed acquisition, the D & D subsidiary would be entitled to receive up to an additional $0.1 million in Puget Common Stock, $0.001 par value, based on attaining net pre-tax profit performance goals, currently envisioned to be $2 million for the calendar year ended December 31, 2022, and $3 million for the calendar year ended December 31, 2023. Puget expects to fund the acquisition through a second stage private placement. D & D's total revenues for the calendar years ended December 31, 2020 was $3.6 million, with profits of $0.25 million. The parties intend to enter into a binding agreement following due diligence, legal consultations, and regulatory approvals with a potential closing by the end of the 2021 calendar year.