Red Thread Media Limited signed a definitive agreement to acquire 0968998 BC Ltd. from Mobio Technologies Inc. (TSXV:MBO) in cash and stock in a recapitalization transaction on December 5, 2014. Under the terms, Red Thread Media will pay $0.15 million in cash, make a payment of $0.01 million per month under a technical support arrangement, pay royalty on future INsider revenues of 9%, declining to 3% as benchmark royalty payments are made and preferred shares of Red Thread Media equal to 20% of its pre-financing fully diluted share capital. Red Thread Media will also complete equity financing of approximately CAD 0.9 million ($0.79 million) in 0968998 BC Ltd. During the year ended July 31, 2015, Mobio Technologies received an initial payment from RTM pursuant to the terms of the agreement in the amount of CAD 0.085 million.

As of December 31, 2015, RTM has not fulfilled all of its covenants under the agreement, and closing of the transaction remains subject to RTM satisfying all conditions precedent.