We are saddened and disappointed to inform that, despite our best efforts, the Judge has denied the feasibility of our POR and has converted the case to Chapter 7. $DGTW
Today, the court conducted an evidentiary hearing focused on the feasibility of our POR. The evidentiary portion has been concluded and the judge intends on rendering a decision tomorrow morning. $DGTW
We are preparing our memorandum in opposition to the US Trustee's renewed motion to convert or dismiss the case. We will vigorously defend our position, as we did the last time this motion was filed. $DGTW
Information regarding time sensitive creditor and shareholder ballot for accepting or rejecting Plan of Confirmation can be found here. $DGTWdigitaltown.com/press-releas…
OTC Markets completed their review and identified missing information in one section of each report. This was updated immediately and amended reports have been uploaded. Once they confirm and review the changes, status will be changed to Pink Current. $DGTW
OTC Markets has just advised they have been overwhelmed with prioritizing companies that were at risk of falling to Expert Market status (as of today), and are now shifting to reviews for Pink Current. We are in the queue, and are fully compliant with SEC Rule 15c2-11. $DGTW
We have been advised by OTC Markets they have been working through extremely high volumes of requests, and that we can expect to see our status change to Pink Current in the next 2-4 business days. $DGTW
POR update: Amended POR will be filed shortly; delayed to accommodate the adversary settlement that is in the process of being documented and filed (details of which are included in the amended POR). $DGTW
DigitalTown has reached a settlement in principle on the adversary proceedings and will be applying to the Courts for approval. Required documentation is being finalized and will be filed in short order, at which point details will be made available. $DGTW