Aphex BioCleanse Systems Inc announces that it has filed a
VENICE, Fla., 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, the petition being filed on May 12, 2022, the Tampa Division of the United States Bankruptcy Court today declares that effective August 12, 2022, they have timely filed a Debtor in Possession (DIP) Plan with the Court.
David R Olund, Chairman said, “The filing of a DIP plan is a very important step in the reorganization and takeover of Aphex BioCleanse Systems Inc. The company is actively seeking DIP investment capital which, together with an approved DIP plan , could set up the company. on a solid path to operational stability and profitability.
The bankruptcy filing was precipitated by lawsuits by former corporate directors in concert with certain other shareholders, which is seen by current management as a hostile takeover attempt, baseless and detrimental to shareholder interests.
The Company’s management is working diligently to relaunch its commercialization with new anti-germ products and to commit the necessary DIP financing.
“We thank the majority of our shareholders whom we serve and who support our incredible technologies. We look forward to their consensus with the DIP plan which will ultimately be voted on by the company’s creditors and shareholders,” said David Olund – Chairman.
About Aphex BioCleanse Systems, Inc. (Aphex):
Aphex is the developer of the world’s first proprietary alcohol-free, non-toxic, and hydrogen-based cleaning technology, and has been producing germ-killing solutions for over 10 years. The technology, called Hy-IQ® The water has a unique method of disinfection that you won’t find anywhere else. Hy-IQ® Water uses hydrogen ions traveling at nearly the speed of light to pierce the cell walls of exoskeleton germs.
“We Kill Germs with Physics, Not Chemistry” is a slogan 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 learn more about Aphex and its technologies, visit Aphex BioCleanse Systems, Inc. – Superior Sanitation (aphexus.com)
This 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. that are not purely historical are forward-looking statements and include any statement regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to, products sold or cash flows of exploitation. Actual results could differ from those projected in the forward-looking statements due to many factors. These factors include, among others, the inherent uncertainties associated with distribution and the difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this press release, and we undertake 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 correct. Investors should review all information presented here and should also refer to our most recent annual report for our most recently completed fiscal year, our quarterly reports and other periodic reports filed from time to time with the Securities and Exchange Commission.