Aphex BioCleanse Systems Inc Announces It Has Filed A Debtor In Possession Plan In The Florida Middle District Bankruptcy Court
Aphex BioCleanse Systems, Inc. (OTCPK: SNST) has filed a Debtor In Possession (DIP) Plan following its Chapter 11 bankruptcy petition on May 12, 2022. The DIP Plan aims to support the company's reorganization and recovery, with management actively seeking investment capital. The bankruptcy was driven by perceived hostile actions from former directors, which management argues harm shareholder interests. Aphex is focused on relaunching its marketing and obtaining DIP financing to stabilize operations and achieve profitability.
- Filing of the DIP Plan indicates a structured approach to recovery.
- Management is actively seeking investment to support operational stability.
- Bankruptcy filing could negatively impact investor confidence.
- Hostile actions by former directors may threaten company stability.
Venice, FL, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Aphex BioCleanse Systems, Inc. (OTCPK: SNST), which had filed a voluntary petition under the Federal Bankruptcy Code, Chapter 11, Subchapter V with the Petition being filed on May 12, 2022 in the United States Bankruptcy Court Middle District of Florida Tampa Division states today that as of August 12, 2022 they timely filed a Debtor In Possession Plan (DIP) with the Court.
David R Olund, President states, “the filing of a DIP Plan is a very important step in the reorganization and recovery of Aphex BioCleanse Systems Inc. The Company is actively seeking out DIP investment capital which along with an approved DIP Plan could set the Company on a solid course towards operational stability and profitability.”
The Bankruptcy filing was precipitated by the litigatory actions of former Corporate Directors in concert with certain other shareholders, which is viewed by current management as an attempted hostile takeover and to be without merit as well as damaging to shareholder interests.
The Company management is working diligently to relaunch its marketing with new germ-killing products and to engage the necessary DIP financing.
“We thank the majority of our shareholders who we serve and who support our amazing technologies. We look forward to their consensus with the DIP Plan which will ultimately be voted on by the Company Creditors and Shareholders.”, says David Olund – President.
About Aphex BioCleanse Systems, Inc. (Aphex):
Aphex is the developer of the world's first proprietary non-alcohol, non-toxic, hydrogen-based cleaning technology, and has been producing germ killing solutions for over 10 years. The technology, called Hy-IQ® Water, has a unique method of sanitizing that you won’t find anywhere else. Hy-IQ® Water uses hydrogen ions traveling nearly at the speed of light to breach the cell walls of exoskeleton germs.
“We Kill Germs with Physics, Not Chemistry” is a tagline that expresses their commitment to the environment by providing non-Chemical solutions to the spread of dangerous pathogens. Killing the most dangerous germs on the planet, while meeting the EPA’s definition of “Water”, is revolutionary.
To find out more about Aphex and their technologies, visit Aphex BioCleanse Systems, Inc. - Superior Sanitization (aphexus.com)
Forward-Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future, including but not limited to, any products sold or cash flow from operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time to time with the Securities and Exchange Commission.
Investor Contact:
Anthony Marrotti
585-880-1567
amorotti@aphexus.com
https://aphexus.com/
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