Entest Biomedical, Inc. (OTCPK: ENTB) entered into a letter of intent to acquire the assets of Titterington Veterinary Services, Inc. from Ron Titterington and Kathy Snell for $0.88 million in stock on July 19, 2011. Entest Biomedical will issue 0.7 million shares of its common stock as consideration in the transaction. Titterington Veterinary reported revenues of $0.9 million. Under the terms of the letter, there will be leasing of the business assets to Titterington subsequent to the closing of the transaction. The transaction is subject to the execution of one or more definitive agreements upon mutually acceptable terms and conditions, due diligence, non competition agreement, deposit of 0.7 million common shares of Entest Biomedical into an escrow account to serve as collateral and duty of Titterington to not entertain any other offer. Both Parties shall use their best efforts to execute a definitive purchase agreement no later than September 1, 2011 with the transaction closing no later than September 30, 2011. Herman H. Pettegrove acted as escrow agent in the transaction. On November 4, 2011, Entest Biomedical, Inc. entered into an agreement to acquire assets of Titterington Veterinary Services, Inc. Entest Biomedical, Inc. (OTCPK:ENTB) cancelled the acquisition of the assets of Titterington Veterinary Services, Inc. from Ron Titterington and Kathy Snell on February 22, 2012.