True Nature Holding, Inc. (OTCPK:TNTY) signed a letter of intent to acquire Price Choice Pharmacy for $1 million on January 19, 2017. The purchase price comprises a cash payment of $0.5 million, issue of short term notes payable worth $0.1 million, and an incentive "earn-out" bonus of up to $0.4 million payable during 2017 and 2018 if certain business goals are met. Price Choice Pharmacy generated $3.5 million in revenue in 2016. The transaction is subject to due diligence, regulatory review and license transfer procedures, approval by the Board of Directors, and other conditions. The Price Choice transaction is expected to close in late second quarter of 2017. As on July 27, 2017, TNTY was informed by the seller that it received an alternative proposal from a third party that included higher compensation and fewer terms.