King Resources, Inc. (OTCPK:KING) signed a letter of intent to acquire The GridGrabber Inc. on February 14, 2012. KING has received satisfactory cash funding requirements from its preferred shareholders. King intends to retire approximately 500 million shares for the funding. The articles of incorporation of Grid Grabber and Patent Pending filings will be filed on OTC Markets shortly. Dennis Giancola will be appointed to King's Board of Directors and Chief Executive Officer of King.