On October 4, 2016, Multimedia Platforms, Inc. and its subsidiaries (the “Company”)(with one immaterial exception) each filed a voluntary petition under Chapter 11 of Title 11 under the United States Code. The cases were filed in the United States Bankruptcy Court, Southern District of Florida. The debtors each remain in possession of their assets as debtors-in-possession. The voluntary petitions were filed in response to a Temporary Restraining Order entered by a state court in Massachusetts filed by the Company’s principal lender.
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