Entertainment Arts Research Inc. (OTCPK:EARI) executed a term sheet to acquire a 51% stake in Santo Spirits, Inc. from Chris Noth for $12 million on September 10, 2021. As per the executed term sheet, we will acquire 51% of Ambhar and have the right to acquire the other 49% of the LLC upon successful completion of our funding obligation set forth in the term sheet of $3 million for Ambhar working capital, which will mostly be spent on marketing, which is set forth as part of the Use of Proceeds of this Offering. Entertainment Arts Research Inc. finalizing the definitive documents for the acquisition.

Entertainment Arts Research Inc. (OTCPK:EARI) cancelled the acquisition of a 51% stake in Santo Spirits, Inc. from Chris Noth on December 17, 2021.