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CrossFiber Inc.

Auction type: On-Site Only

Sale Date: Friday, May 27, 2016 at 10:00 AM

Location
The Law Offices of
Burns & Levinson LLP
125 Summer Street
Boston, Massachusetts 02110

Details:

Pursuant to Section 9-610 of the Uniform Commercial Code, as adopted by the State of New York, BBXF LLC and BBXF Global LLC, the senior secured parties, or their designated collateral agent , shall conduct a sale by public auction of all intellectual property assets owned by CrossFiber Inc., a Delaware corporation (the “Debtor”) in which the collateral agent holds a security interest in all of the Debtor’s assets and any products or proceeds thereof (collectively, the “Collateral”).

The Collateral is being sold ‘as is, where is’ without warranties or covenants, express or implied.

All interested and qualified purchasers are invited to attend and bid at the auction. A list of the intellectual property assets being auctioned is available from and can be obtained by contacting Joseph Finn Co., Inc. at (617) 964-1886 during normal business hours.

Terms of Sale:

  • All assets of the Company will be sold as a single unit
  • All assets are being sold “as-is, where is”
  • No warranties of any kind provided by Secured Party seller (e.g., no warranty of title or non-infringement)
  • Minimum bid is $525,000. 10% must be deposited with Joseph Finn Co., Inc. in escrow prior to auction in order to be a qualified bidder
  • No contingent bids allowed
  • Full payment of the purchase price due in immediately available funds upon conclusion of the auction
  • Credit bids are authorized (no deposit will be required, so long as demonstrable credit exceeds 10% of bid)
  • Secured party seller reserves the right to adjourn or cancel the auction at any time
  • Secured Party Bill of Sale will be provided to the successful purchaser upon receipt in full of the purchase price