Scepter Holdings, Inc. (OTCPK:BRZL) signed a memorandum of understanding to acquire IP Motor Sports Inc. on November 7, 2017. Scepter Holdings, Inc. (OTCPK:BRZL) completed the acquisition of IP Motor Sports Inc. for $1 million on November 30, 2017. Scepter issued its convertible preferred stock of $0.50 million to shareholders of IP Motor Sports and assumed liabilities of $050 million. The preferred stock holders will have the option to convert to common stock after one year.