AIS Anywhere Inc agreed to acquire Gooroo Ventures Limited (ASX:GOO) in a reverse merger transaction on August 1, 2019. Gooroo Ventures Limited (ASX:GOO) will issue 124 million shares and will pay AUD 6.6 million in cash. As on September 3, 2019, terms of the transaction was revised and Gooroo Ventures Limited will issue 201 million shares. As on August 28, 2019 the Gooroo Ventures Limited successfully completed a capital raising of AUD 1.5 million via the issue of convertible notes, the proceeds of which shall partly be used to fund this transaction. The transaction is subject to entering into definitive agreement, consummation of due diligence investigation, approval of transaction by Gooroo Ventures Limited shareholders, regulatory and ASX approval for listing of shares to be issued as part of consideration. As of October 24, 2019, the transaction is expected to be finalized toward the end of calendar year 2019. AIS Anywhere Inc cancelled the acquisition of Gooroo Ventures Limited (ASX:GOO) in a reverse merger transaction on November 11, 2019. On October 31, 2019, ASX formally advised Gooroo that there is a significant likelihood the ASX will exercise its discretion under Listing Rule 1.19 to decline Gooroo's application for readmission if it chooses to proceed with the transaction. Following thorough due diligence the Gooroo Board has determined not to proceed with the transaction.