A special purpose acquisition company, known also as a blank check company, is a publicly traded firm with no business purpose other to find another company, merge and take it public. In connection with the Business Combination, EFHT has formed a wholly owned Florida corporation that will merge with E.C.D. and E.C.D. shall be the surviving corporation. Following the merger, E.C.D. shall be a wholly owned subsidiary of EFHT. As consideration for the Business Combination, the shareholders of E.C.D. shall receive 21,000,000 shares of common stock of EFHT valued at $10 per share and a cash payment of $15,000,000.