Green Automotive Company (OTCPK:GACR) entered into a letter of intent to acquire Blackhawk Manufacturing, Inc. and its affiliated companies (BMI Entities) from Floyd Sanders, Carlos Larios, Sergio Larios, Lin Austin and The Miguel Luevanos Living Trust for $8.1 million in stock on September 9, 2013. Green Automotive Company (OTCPK:GACR) entered into a definitive agreement to acquire Blackhawk Manufacturing, Inc. and its affiliated companies (BMI Entities) from Floyd Sanders, Carlos Larios, Sergio Larios, Lin Austin and The Miguel Luevanos Living Trust on February 17, 2014. Consideration also includes earn-out payment of $1.5 million, if certain performance thresholds related to the operations/earnings of the BMI Entities are met at the end of 2014, 2015, and 2016. The affiliated companies include Larios, Lario & Luevanos, LLC, Alan Servicios S de R.I. de C.V., Lalusa Investments and Shelmado Transporte and issue 120 million shares in exchange. Deal is subject to preparation of accounts of BMI Entities as per GAAP that accurately reflect the BMI Entities operations for the year ended December 31, 2013 and regulatory approval.

Pursuant to completion of GAAP-compliant financial statements, Green Automotive Company (OTCPK:GACR) completed the acquisition of Blackhawk Manufacturing, Inc. and its affiliated companies (BMI Entities) from Floyd Sanders, Carlos Larios, Sergio Larios, Lin Austin and The Miguel Luevanos Living Trust on April 11, 2014. The consideration shares are will be issued as soon as possible. Law Offices of Craig V. Butler acted as legal advisor for Green Automotive Company.

Green Automotive Company (OTCPK:GACR) cancelled the acquisition of Blackhawk Manufacturing, Inc. and its affiliated companies (BMI Entities) from Floyd Sanders, Carlos Larios, Sergio Larios, Lin Austin and The Miguel Luevanos Living Trust on May 21, 2014. The consideration shares were not issued and will not be issued now.