Verify Smart Corp. (OTCPK:VSMR) entered into a share purchase agreement to acquire Ukabobs LLC from Paul DiMarco, Mitesh Patel and other shareholders for $1.4 million on June 22, 2012. The other shareholders include Richard S. Langford, Michael McManus, Jeffrey Zambel, Steven R. Suchin, Sachinkumar Patel and Siddharth Patel. Under the terms of the agreement, Verify Smart will pay $0.1 million within 5 business days following the closing date, $0.2 million payable within 12 months following the closing date, and will issue 8.8 million shares to Ukabobs LLC. Paul DiMarco will be appointed as Director of Verify Smart and Mitesh Patel will be appointed as Chief Technical Officer of Verify Smart. The transaction, which subject to third party consents and approvals, due diligence investigations of the other party, Ukabobs LLC will have delivered to Verify Smart audited financial statements prepared in accordance with United States GAAP and audited by an independent auditor registered with the Public Company Accounting Oversight Board in the United States, Paul DiMarco and Mitesh Patel, the managing members of Ukabobs LLC will enter into mutually approved employment agreement with Verify Smart. The deal is expected to close by August 31, 2012.