OMID Holdings, Inc. entered into a stock purchase agreement to acquire AV1 Group, Inc. (OTCPK:AVOP) in a reverse merger transaction on May 30, 2019. The acquisition involves issuance of 200 million shares of AV1 Group, Inc. to OMID Holdings, Inc. and spinout of three subsidiaries of AV1 Group, Inc. to its Officers and Directors in exchange for assumption of all liabilities existing prior to closing of the transaction. The deal is expected to be completed during the end of November 2019.

OMID Holdings, Inc. completed the acquisition of AV1 Group, Inc. (OTCPK:AVOP) in a reverse merger transaction on February 14, 2020. Post acquisition, the name of AV1 Group, Inc. changed to OMID Holdings, Inc. with a change in ticker to 'OMID'. All previous business elements of AV1 Group, Inc. including its prior assets, liabilities, and debts have been settled and/or spun-off. The new leadership team consists of Adam Frank, as Chief Executive Officer & Chairman and Kevin Anderson, as President & Chief Operating Officer. The executives of AV1 Group, Inc. have tendered their resignation, effective upon the closing. The company will be headquartered in Phillipsburg, New Jersey.