CA - LexaGene Holdings files for bankruptcy
- LexaGene Holdings ( OTCQB:LXXGF ) has filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code.
- The molecular diagnostics company said it has ceased operations and laid off its staff.
- A U.S. court is set to appoint a bankruptcy trustee to liquidate the company's assets and distribute any proceeds.
- LXXGF said it does not expect that any liquidation proceeds realized by the bankruptcy trustee will be sufficient to satisfy the claims of all creditors, and it is unlikely that the shareholders will receive any distribution of any liquidation proceeds.
- Source: Press Release
For further details see:
LexaGene Holdings files for bankruptcy