Nitin Amersey, Director, Chief Financial Officer, Corporate Secretary and Treasurer of HPIL Holding signed a share purchase agreement to acquire an additional 70.63% stake in HPIL Holding (OTCPK:HPIL) from GIOTOS Limited and Louis Bertoli, President, Chief Executive Officer, and Chairman of the Board of Directors of HPIL Holding for $0.34 million on March 6, 2017. Nitin Amersey is paying $0.00956 per share of HPIL Holding. As per the terms of the deal, Nitin Amersey will deposit the consideration with the escrow agent on or before April 21, 2017. Louis Bertoli and GIOTOS Limited currently owns 43.22 million shares and Nitin Amersey owns 0.01 million shares in HPIL. On completion, Nitin Amersey will own 36.01 million shares and Louis Bertoli and GIOTOS Limited will own 7.22 million shares in HPIL Holding. Nitin Amersey expects to fund the purchase price with borrowed funds. The deal is subject to the execution of escrow agreement. The deal is expected to close on or about April 28, 2017. H. Grady Thrasher of Thrasher Worth LLC acted as escrow agent in the transaction. Nitin Amersey, Director, Chief Financial Officer, Corporate Secretary and Treasurer of HPIL Holding cancelled the acquisition of an additional 70.63% stake in HPIL Holding (OTCPK:HPIL) from GIOTOS Limited and Louis Bertoli, President, Chief Executive Officer, and Chairman of the Board of Directors of HPIL Holding on March 6, 2018.