July 24, 2009 (FinancialWire) — The UpTurn, Inc. (OTC: UPTR) (Current Market Cap: $1.96 Mil.) said it has signed a letter of intent to acquire Cityside Tickets for 29 million shares of its common stock.

According to The UpTurn, the completed transaction will generate revenue of $5 million per year. The deal is scheduled to close by September 30. In the interim, The UpTurn plans to provide Cityside Tickets with $50,000 to $100,000 in growth capital.

Boston-based Cityside Tickets is a provider of sports, concert, theater and other types of tickets.

Cambridge, Massachusetts-based The Upturn operates as an online real estate matchmaking exchange. It matches real estate participants based on provided individual profiles and intended roles in the market. For the three months ended June 30, the company expects to report a loss of $5 to $6 million from efforts to establish its online real estate matchmaking exchange.

The company reports that no revenue was derived from planned operations during the last six months.

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