Public Auction of IntelliCell BioSciences, Inc. Assets
IntelliCell BioSciences, Inc. failed to place $600,000 in escrow by August 12, 2013, as ordered by the New York Supreme Court to be held as a condition of continuing the foreclosure sale. On August 13, 2013, the Court ordered IntelliCell to pay to Ironridge all principal, interest and attorneys’ fees due under the note by August 14, 2013.
If payment is timely received, Ironridge has agreed to withdraw the notice of foreclosure without prejudice, reserving all rights and remedies under the loan documents. If IntelliCell again fails to make the required payment, the foreclosure sale will proceed at 10:00 am on Thursday, August 15, 2013, as follows:
Sale Date: Thursday, August 15, 2013
Sale Time: 10:00 a.m. Eastern time
Sale Place: 405 Lexington Avenue, 26th Floor
New York, NY 10174
The deadline for submitting a statement of interest has been extended to 6:00 pm Eastern time on Wednesday, August 14, 2013. In addition, qualified bidders will be permitted to participate by telephone. In the event that IntelliCell pays all principal, interest and attorney fees due under the note by August 14, 2013, the notice of sale will be withdrawn without prejudice. All qualified bidders will be notified prior to the time of sale if this occurs.