VIASPACE Inc. (OTCPK:VSPC) entered into a nonbinding letter of intent to acquire Elite Therapeutics from Kevin Schewe and others on November 26, 2014. The total consideration will be paid in stock. The purchase price is subject to adjustments. Kevin Schewe may join the combined entity. The deal is subject to the satisfactory completion of due diligence, definitive agreement, satisfactory transition agreement, employment agreements and other customary conditions. The transaction is expected to close in the first quarter of 2015. As of May 26, 2015, the deal was postponed to allow VIASPACE and Elite Therapeutics to focus on its respective core business. VIASPACE Inc. (OTCPK:VSPC) completed the acquisition of Elite Therapeutics from Kevin Schewe and others on March 6, 2019.