eMerge Interactive, Inc.eMerge Interactive, Inc., Sebastian, FL, announces it has filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the federal bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Southern District of Florida, West Palm Beach division. eMerge also announces it and PRIME BioSolutions, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control have mutually agreed to terminate the previously announced merger agreement between them because adequate financing on acceptable terms was not available. eMerge also announces, in contemplation of the bankruptcy filing, it and The Biegert Family Irrevocable Trust Irrevocable Trust A trust that, once its setup, cannot be changed at all. Notes: This is to prevent fraudulent activities. See also: Exemption Trust, Trust, Unit Trust Irrevocable trust A trust that is unable to be amended, altered, or revoked. signed a non-binding letter of intent for the sale of the assets relating primarily to eMerge's CattleLog, or "Animal Information Solutions," business to the Biegert Trust. The Biegert Trust is eMerge's largest stockholder and beneficially owns approximately 18% of the outstanding shares of eMerge common stock. NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on announces it has delisted eMerge from the exchange. |
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