Michael R. Dunn signed a definitive agreement to acquire 92.12% stake in Cloud Security Corporation (OTCPK:CLDS) from Goldenrise Development, Inc. for $0.36 million on June 28, 2017. Under the terms of the agreement, Michael R. Dunn, Chief Executive Officer and Director of Cloud Security, will pay $0.36 million at closing comprising of 0.18 million in cash to Goldenrise Development at closing, another $0.18 million which shall be withheld by Michael R. Dunn and applied towards monies owed by Goldenrise Development to Michael R. Dunn. The transaction is subject to certain customary conditions including resolutions duly adopted by the Board of Directors of Goldenrise Development approving the execution, delivery, and performance of the agreement, Cloud Security being current in all SEC filings among other conditions. The transaction is expected to complete no later than July 15, 2017. Michael R. Dunn completed the acquisition of 92.12% stake in Cloud Security Corporation (OTCPK:CLDS) from Goldenrise Development, Inc. on July 28, 2017.