Eddie Vakser has never run a real business with products, services or sustainable revenue generating operations. Vakser has no clue what a bankruptcy entails. It is very complicated and costly. AURI is acquiring a disaster in the making with a total POS company that is not in a position to do anything with AURI. No savvy investor is going to sit back while this BS goes on.
The biggest advantage is that the entity, usually a business, can continue operations while going through the reorganization process. This allows it to generate cash flow that can aid in the repayment process. The court also issues an order that keeps creditors at bay. Most creditors are receptive to Chapter 11 as they stand to recoup more, if not all, of their money over the course of the repayment plan than if the company simply went out of business. What Are the Disadvantages of Filing Chapter 11?
Chapter 11 bankruptcy is the most complex of all bankruptcy types. It is also usually the most expensive. For a company that is struggling to the point where it is considering filing for bankruptcy, the legal costs alone might be onerous. Plus, the reorganization plan has to be approved by the bankruptcy court and must be manageable enough that the business can reasonably pay off the debt over time....
The business is not able to make certain decisions without the permission of the courts. These include the sale of assets, starting or terminating a rental agreement, and stopping or expanding business operations. The court also has control over decisions related to retaining and paying attorneys and entering contracts with vendors and unions. Finally, the debtor cannot arrange a loan that will commence after the bankruptcy is complete.
The hundreds of complaints and millions in chargebacks and refunds are shown in the tax return and the BBB pages linked below.
$AURI the company has been working on a deal for a manufacturing facility in Florida. We are at the final stretch of completing a deal. Given the state of the deal we were given permission to disclose tax return segments of the deal to share with the public. #OTCMarkets#NASDAQpic.twitter.com/LrDxMYO9j6
Yo Ed...why refuse to name your bankrupt partner and post their unredacted IRS filings ..all of them... especially since you've been using them to pump your crap shares? They've already been outed so it's no mystery to anyone. I presume this is the same Florida partner you promised investors a "binding MOU" would be secured back in August. If this failed business has anything remotely worth $15 million in equipment the owners are going to have to sell or hock it to pay their debtors.
Judging by the irate customers on their website and awful BBB reviews any business that MIGHT emerge will have to repent and reform it's ways and stop the abusive practice of conning people into auto shipments of products they don't want. Apparently those $36.5 MILLION in credit card chargebacks destroyed the whole scam.
You and Riddiculous Bowe have something in common...domestic violence against family members.
"Life happens"??
You're a grown ass man for God's sake. You need therapy and join AA to quit drinking, driving drunk with firearms, lying, stealing, conning, grifting. Even your long suffering wife finally got fed up and is divorcing you. If all your goofy health and wellness products worked you wouldn't be so bloated and look like hell.
4. Some have commented on the fact that our recent celebrity had a few scrimages with the law, and some other legal issues in the past. My group had workes with some of the greatest celebraties in the world, and while we do focuse on their talents and skills that delivered them to the world stage, we do not forget that they are human and "Life Happens" . Our company celebrates achievements and talents in order to showcase the Positive Wellness and Health enhansements that our porducts deliver , however, we do not condone any criminal actions, violence and overall disrespect to others.
OVER A YOUR DECADE OF PUMP-AND-DUMPING A DOZEN TICKERS ...ALL SCAMS... ALL FAILURES. HUNDREDS OF YOUR GRANDIOSE PR'S ARE EASILY ACCESSIBLE FOR ALL TO READ. YOU ARE THE BIGGEST J-O-K-E IN SUB-PENNY TICKER LAND. YOU'LL NEVER GET A TICKER OUT OF OTC MUCH LESS LISTED ON NASDAQ. YOU HAVE A BETTER CHANCE OF HAVING A SUPERMODEL FALL IN LOVE WITH YOU.
10 DAYS...."CRICKETS"..WHERE'S THE MOU YOU PROMISED IN AUGUST? WHERE'S THE O/S "REDUCTION" YOU PROMISED? YOU MIGHT AS WELL GO AHEAD AND NAME THE BANKRUPT CBD/ KETO COMPANY... IT'S APPARENTLY ALREADY KNOWN
HAY EDWAD...why don't you just BUY Eagle Hemp??? You told investors you had, "$2 BILLION worth of ART in addition to intellectual rights in perpetuity." Plus another BILLION worth of Thomas Kinkade unsellable junk. https://www.otcmarkets.com/filing/html?id=15958888&guid=jlJ-kpikzTQlB3h (Page 5)
Not to mention millions more in NFT's, crypto coins, patents, oil & gas interests...in addition to your collection of expensive watches, guitars and guns. Sell that house of yours in Plano (aka the International, Global, World Headquarters of your hedge fund/ holding company conglomerate. Surely you and your secret shadowy "funders" in Boca can come up with the cash to buy a business that went bust despite having "$120 million in revenue last year." They also had massive multi multi million dollar credit card charge backs from people who wanted refunds. That hardly seems like a happy customer base clamoring for Eagle Hemp gummies.
SHAREHOLDER UPDATES
3. Auri Inc ., currently has several pending acquisition deals. One of the deals in Florida, involved a current creditor/owner file for chapter 11 banktruptsy (bankruptcy) protection. This was done, so that over 15 Million Dollars (million dollars--not capitalized)worth of equipment, inventories and property would be "free and clear", and the sellers would "roll it up" as equity in the new "wholly owned" (why are you quoting this?) subsideary (subsidiary) of Auri Inc. NOTE: for those who may not know how chapter 11 works, the basic deal is that , the New ("new" is not a proper name' nor the first word in a sentence)owners, will pay off the original investment FROM the future cashflows (cash flows)and receivables. ( and that particular company did over 120 million last year, so there is (are) no issues making payments on a few million dollars). (you put this last line in parenthesis because? Do you have MS Word? If so, "Spell Check" is free. No serious person will invest with a CEO who is either too lazy or drunk to put out news updates littered with basic grammatical errors)