Carbon-ion Energy, Inc. entered into a letter of intent to acquire Corporate Universe, Inc. (OTCPK:COUV) in a reverse merger transaction on December 10, 2020. The consideration for the Acquisition is 100 million shares of newly issued common stock in the Company and a newly created series of preferred stock in Corporate Universe which shall be convertible into 60% of the issued and outstanding shares of Corporate Universe. Upon signing the Binding Letter of Intent, Corporate Universe loaned $0.1 million to be forgiven at Closing. As required by the Binding Letter of Intent, Corporate Universe also loaned an additional $0.4 million, of which $0.27 million was an immediate payment of fees owed to the Administrator of Zapgo Limited. On April 13, 2021, Carbon-ion Energy, Inc. entered into a Share Exchange Agreement to acquire Corporate Universe, Inc. in a reverse merger transaction for $2 million.

On April 13, 2021, Corporate Universe also entered into a Securities Purchase Agreement, Secured Promissory Note, and Security Agreement, under which the Company agreed to loan $1 million to to be secured by the assets of Carbon Ion and its wholly-owned subsidiary, Oxicon Limited. Both Carbon Ion and Oxicon Limited are Grantors under the Security Agreement, such that Corporate Universe has a security interest in the assets of Oxicon Limited, the most important assets of which are the ongoing business and assets of Zapgo Limited (“Zapgo”), including Zapgo's patents and other intellectual property, and contracts of employment (the “Zapgo Assets”), which Oxicon Limited acquired on September 11, 2020 from Zapgo from the Zapgo Administrators. Andrew Sispoidis, Chief Executive Officer of Carbon Ion Energy Storage Ltd will assume the Chief Executive Officer position and Isaac H. Sutton, Chief Executive Officer of Corporate Universe, Inc. will become the Chief Operating Officer. Carbon Ion Energy Storage Ltd will move with laser focus on commercializing their products as well will be moving towards a NASDAQ listing in 2021. Also on April 13, 2021, in connection with the Share Exchange Agreement, Carbon Ion issued Corporate Universe a Promissory Note in the principal amount of $1.5 million, which includes the loan of $1 million on April 13, 2021, (and also replaces the previous $0.1 million promissory note dated December 11, 2020 and the subsequent $0.4 million promissory note dated January 25, 2021 issued to Corporate Universe by Solutions, and such replacement was formalized in a Termination Agreement, also signed on April 13, 2021. As of September 9, 2021, the transaction has been approved by Carbon Ion Board and is expected to close by end of September.

As of February 17, 2021, attorneys from buyer and seller side are making certain amendments and conditional provisions to the definitive merger document, including, but not limited to, the following: Corporate Universe will file a Form 10 Registration Statement with the Securities and Exchange Commission and, upon effectiveness of the Form 10, will seek a qualified Market Maker to file a Form 211 with FINRA. Concurrent with the closing of the Carbon Ion merger, the equity shares of Medicevo, a subsidiary of Corporate Universe will be sold back to its Chief Executive Officer in a to-be-negotiated transaction. The closing is targeted before end of 2020. As of December 30, 2020, transaction is expected to complete in mid-January 2021.

Carbon-ion Energy, Inc. completed the acquisition of Corporate Universe, Inc. (OTCPK:COUV) in a reverse merger transaction on November 12, 2021. Carbon-ion Energy, Inc. The transaction was accounted for as a change in control with COUV being considered the accounting acquired company and Carbon-ion Energy, Inc. being considered the accounting acquirer.