Emissions Zero Module, LLC executed a Letter of Intent to acquire New Century Resources Corporation (OTCPK:NCRE) in a reverse merger transaction on September 20, 2021. On November 19, 2021, Emissions Zero Module, LLC signed an agreement to acquire New Century Resources Corporation for approximately $110 million in a reverse merger transaction. Under the agreement, Emissions Zero Module, LLC shall issue 110.6955 million new shares.

Under the agreement, New Century Resources Corporation will change its name to Colambda Technologies, Inc. The terms and condition of the Letter of Intent will remain confidential and subject to the completion of each entity's due diligence obligations and the completion of audited consolidated financial statements; and is subject to the majority approval of each Company's shareholders. Transaction is also subject to obtaining approval from Financial Industry Regulatory Authority. Transaction is also subject to obtaining approval from Board of Directors of each entity.

The Board of Directors of New Century Resources Corporation has the opinion that transaction is fair and reasonable. Board of Directors and shareholders of New Century Resources Corporation, by written consent of 75.71% approved the Merger Agreement. If the closing date not occurred by February 28, 2022, transaction will be terminated.

As of March 31, 2022, the parties have agreed in Amendment No.1 to the Merger Agreement to extend the date of obtaining approval of FINRA to May 6, 2022, and assuming such approval, allow for closing to be held at any time up to May 13, 2022.