bNET Communications, Inc. and The E-Factor Corp. entered into an agreement to acquire BnetEFactor, Inc. from Gerald E. Sklar, Anthony Sklar, Anriaan Reinders and other shareholders on November 30, 2012. BnetEFactor, Inc. will issue 3.1 million shares to bNET Communications and The E-Factor Corp.

The transaction is subject to bNET Communications and The E-Factor Corp. to provide with audited financial statements for the fiscal years ended December 31, 2011 and 2010, and unaudited financial statements for the nine-month periods ended September 30, 2012 and 2011, along with a the audit report, with respect to the fiscal years ended December 31, 2011 and 2010, a report of the value of the assets of The E-Factor Corp. and bNET, cancellation of 7.8 million shares of BnetEFactor, Inc. and exchange for a like number of shares of BnetEFactor, Inc.'s series A preferred stock, approvals and clearance from all financial industry regulatory authority, state regulatory agencies with respect to a proposed the 16 for 1 forward stock split of shares of BnetEFactor, Inc. Upon closing of the transaction, bNET Communications will become controlling shareholder of BnetEFactor, Inc. As of April 9, 2014, the parties entered into amendment agreement as per which the common shares to be issued will be increased to 54 million to give effect to change in capitalization as a result of the 16- for- 1 forward stock split.

The transaction is still subject to audited financial statements for the fiscal years ended December 31, 2015, 2014, 2013, 2012 and 2011, along with a the audit report, with respect to the fiscal years ended December 31, 2015, 2014, 2013, 2012 and 2011, issued by a PCAOB registered firm, a report of the value of the bNET Communications assets established by the independent fair market valuation or the record value at the lower cost of cost or market and all approvals and clearance from all regulatory authorities with respect to the proposed acquisition. Sadler, Gibb & Associates, LLC acted as accountant for BnetEFactor, Inc.