ICOA, Inc. (OTCPK:ICOA) signed a letter of intent to acquire majority stake in TANGO Software Corporation on July 9, 2012. Tango and its present management will operate in Canada as a subsidiary of ICOA. The transaction is expected to close by the end of July 2012. ICOA, Inc. completed the acquisition of majority stake in TANGO Software Corporation on July 26, 2012. The deal was terminated later due to insufficiency of funds.