Terra Asset Management, Inc. entered into an agreement to acquire Bioflamex Corporation (OTCPK:BFLX) in a reverse merger transaction on July 13, 2012. Under the terms of agreement, Bioflamex will issue 291.92 million shares in exchange of 1000 shares of Terra Asset Management. Kristian Schiørring or Henrik Dahlerup have the right to terminate the agreement if Terra Asset Management defaults and has not remedied the default within thirty days. If any action or a suit is filed against any party of the agreement regarding cancellation of deal then it is advised not to continue with the transaction. Officers and Directors of Bioflamex, Kristian Schiørring and Henrik Dahlerup will receive an additional consideration of $50 million each within 30 days and another $50 million in 60 days of the transaction.

Kenneth D. Bland and Wade Clark will be appointed to the Board of Directors of the Bioflamex, and immediately thereafter, all of the members of the the Bioflamax's Board of Directors serving before the date of the Merger will resign. Further, the Board of Directors will elect Kenneth D. Bland as President of the Bioflamax, and all of the other officers of Bioflamex other than Kenneth D. Bland will resign on the closing date of the Merger. The present Board of Directors of Terra Asset Management shall serve as the Board of Directors of the combined entity. All persons who are Executives or Administrative Officers of Terra Asset Management will be the Officers of Bioflamex. The deal is subject to approval from Terra Asset Management's Board and Shareholders and Terra Asset Management providing Bioflamex its unaudited financial reports. Terra Asset Management, Inc. completed the acquisition of Bioflamex Corporation (OTCPK:BFLX) in a reverse merger transaction on July 16, 2012.

Terra Asset Management, Inc. cancelled the acquisition of Bioflamex Corporation (OTCPK:BFLX) in a reverse merger transaction on October 17, 2012.