This excerpt taken from the PRVT 10-Q filed Nov 10, 2008.
Item 5. Other Information.
The Company entered into a binding Letter of Intent, effective November 10, 2008, to acquire the operations of GameLink and an affiliate of GameLink. The companies are engaged in the business of digital distribution of adult content delivered over the Internet. The acquisition is subject to execution of a definitive agreement and completion of due diligence by Private. The agreement calls for the sellers to receive approximately 8.5 million shares of Private Common Stock at the closing, most of which shares will be subject to a lockup agreement for one year from the closing. In addition the sellers will be entitled to receive up to an additional 4.6 million shares if the combined EBITDA of the digital media operations of Private and GameLink meet specified targets in 2009, 2010 and 2011. The agreement calls for the transaction to be completed by the end of 2008.