Spindle, Inc. (OTCPK:SPDL) entered into a binding letter of intent to acquire VyaPay, LLC for $2 million on October 2, 2018. Spindle, Inc. entered into an agreement to acquire VyaPay, LLC on April 6, 2018. The consideration will be paid through a combination of cash and stock. Under the terms, Spindle will make first payment at the time of closing, second payment no later than eight weeks after closing, third payment no later than sixteen months after closing and fourth payment no later than twenty four weeks after closing. The deal is subject to obtaining a third party valuation of assets, two key employees of the target company agreeing to employment agreements with Spindle, approval of definitive agreements by Spindle's board of directors, raising of debt capital and equity capital by Spindle and the fact that Spindle must have sufficient funds to make the initial payment of installments. Spindle has received cash through issuance of common stock for the transaction. The current Chief Executive Officer of VyaPay will assume the role of Chief Executive Officer of Spindle and join Spindle's Board of Directors. Certain Management of VyaPay will also join as Chief Technical Officer of Spindle. The definitive agreement is expected to be executed on or before December 31, 2017. The transaction is expected to close on or before May 15, 2017. Manhattan Transfer Registrar Company acted as the transfer agent in the transaction. Spindle, Inc. (OTCPK:SPDL) cancelled the acquisition of VyaPay, LLC on May 16, 2018.