Astika Holdings, Inc. (OTCPK:ASKH) entered into a nonbinding letter of intent to acquire Jiangsu Ziyang Holiday Bedroom Articles Co. Ltd. on February 8, 2018. Under the terms of the LOI, the purchase of the acquisition would primarily be paid for with an equity component consideration, an equity and cash component of which there is a structured multi-year earn-out, and conditioned on the achievement of certain EBITDA hurdles. The acquisition would receive common stock, valued on the same basis as the equity component of the Astika Holdings's intended financing. Completion of the transaction under the letter of intent is subject to certain conditions such as the completion of due diligence satisfactory to the Astika Holdings, and the completion of the PCAOB audit and US GAAP. The parties expect the PCAOB audit under US GAAP to be completed within approximately 8-16 weeks. The transaction is expected to close no later than July 31, 2018.