Earth Gen-Biofuel Inc. agreed to acquire EarthBlock Technologies Inc. (OTCPK:EBLC) in a reverse merger transaction on September 25, 2012. As consideration, EarthBlock will issue 1.5 billion shares. Post acquisition, Earth Gen-Biofuel will retain its own name. As a part of the transaction, George Shen will be appointed to the Board of Directors and will also be given the position of President and Chief Executive Officer. He will also retain those positions with the Earth Gen-Boifuel. Also, the current officers and directors of EarthBlock resigned their positions. Under the terms of the agreement, George Shen will also purchase 2 shares of series A preferred stock issued and outstanding with voting rights that allow the holders of the preferred to the number of votes that would equal 60% of all votes. The Board of EarthBlock Technologies and Earth Gen-Biofuel approved the terms of the deal.

Earth Gen-Biofuel Inc. completed the acquisition of EarthBlock Technologies Inc. (OTCPK:EBLC) in a reverse merger transaction on September 25, 2012.