Star Entertainment Group, Inc. (OTCPK:SETY) signed a letter of intent to acquire Zenetek for $10 million in stock on August 8, 2012. As of August 14, 2012, the transaction is expected to complete on August 17, 2012. On August 16, 2012, Star Entertainment signed the definitive agreement to acquire Zenetek.

Star Entertainment Group will also acquire Modiax.com, a wholly owned subsidiary as part of the transaction. Star Entertainment Group will acquire Zenetek through an equity building issuance of preferred stock and will create no debt for the Star Entertainment Group or require the issuance of common stock. In 2011, Modiax and Zenetek recorded approximately to $2.1 million in revenues.

Following the completion of the deal, Star Entertainment's new headquarters/ operational facilities will be relocated to Ho Chi Minh City, Vietnam as part of this new transition.