Swisher Hygiene Inc. To File Present-day Report On Form 8-K, Reporting Liquidation Foundation Accounting For The 7 Months Finished July 31, 2021 And The Year Finished December 31, 2020 And The Filing Of A Movement For Approval To Make A 2nd And Ultimate Distribution To Its Stockholders
FORT LAUDERDALE, FL / ACCESSWIRE / August 31, 2021 / Swisher Cleanliness Inc. (the “Firm”) these days claimed liquidation foundation accounting for the seven months ended July 31, 2021 and the 12 months ended December 31, 2020.
As formerly declared, on August 12, 2016, the Securities and Exchange Fee (the “SEC”) granted the Company’s request for no-action relief from filing long run periodic studies less than Portion 13(a) or Section 15(d) of the Securities Exchange Act of 1934 commencing with its quarterly report on Type 10-Q for the quarter finished June 30, 2016. In accordance with the phrases of the requested relief, the Corporation will disclose material developments relating to its (i) liquidation, like the quantities of any liquidation distributions, payments and charges, (ii) dissolution, (iii) money ailment, and (iv) other substance developments, which includes product developments relating to Honeycrest Holdings, Ltd. v. Built-in Brand names, Inc. litigation, on Existing Stories on Sort 8-K.
As a consequence of the SEC’s granting of reduction, the Business was relieved of its obligation to file periodic experiences for the quarter ended June 30, 2016 or any quarterly or yearly interval thereafter. On the other hand, the Firm did give its initial article-adoption consolidated fiscal statements for the period from April 1, 2016 to June 30, 2016 geared up on the liquidation foundation of accounting on a Current Report on Kind 8-K filed with the SEC on August 19, 2016. Moreover, the Firm has also supplied its audited consolidated monetary statements for the time period from April 1, 2016 to December 31, 2016, and the decades ended December 31, 2017, 2018, 2019 and 2020 in Latest Reviews on Type 8-K submitted with the SEC on April 12, 2017, April 27, 2018, April 2, 2019, March 20, 2020 and March 30, 2021, respectively.
Though not necessary to do so as a consequence of obtaining no motion reduction outlined higher than from the SEC, the Firm is providing its audited consolidated economic statements for the 7 months ended July 31, 2021 and the calendar year finished December 31, 2020 in a Existing Report on Kind 8-K to be filed with the SEC right now. This is the final set of audited fiscal statements to be posted by the Company and submitted in a Present Report on Variety 8-K with the SEC.
Even further, the Firm right now announced that it submitted a movement with the Court of Chancery of the Condition of Delaware (the “Delaware Court”) trying to find acceptance to make a next and closing liquidating distribution of about $2.1 million to its stockholders (the “Second and Ultimate Distribution”). As beforehand announced, on August 3, 2021, the Company and Honeycrest Holdings, Ltd. (“Honeycrest”) entered into a final settlement arrangement (the “Settlement Agreement”) that removed the last obstacle to the completion of Swisher’s dissolution. The Settlement Settlement was authorized by the Delaware Court docket on August 6, 2021. The Organization expects to announce the timing and phrases of the 2nd and Remaining Distribution by means of a community launch and the filing of a Form 8-K with the Securities and Exchange Fee.
Cautionary Assertion on Ahead-Looking Information
All statements other than statements of historical point contained in this press release represent “forward-on the lookout data” or “ahead-on the lookout statements” in just the indicating of the U.S. federal securities legal guidelines and the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this press release except if normally mentioned. All statements other than historic info are, or could be, deemed to be ahead hunting statements. The words “ideas,” “expects,” “is anticipated,” “scheduled,” “estimates,” or “believes,” or equivalent words and phrases or variations of this sort of text and phrases or statements that particular actions, gatherings or final results “may well,” “could,” “would,” “might,” or “will be taken,” “happen,” and very similar expressions establish ahead-looking statements.
Forward-looking statements are essentially based upon a amount of estimates and assumptions that, though considered affordable by the Company as of the day of these kinds of statements, are inherently matter to considerable business, economic and competitive uncertainties and contingencies. All of these assumptions have been derived from information at this time available to the Company like details obtained by the Enterprise from 3rd-occasion resources. These assumptions may well verify to be incorrect in total or in aspect. All of the ahead-hunting statements designed in this press release are certified by the over cautionary statements. The ahead-looking information and facts established forth in this push release is topic to many assumptions, dangers, uncertainties and other variables that are hard to forecast and which could cause true final results to vary materially from those expressed or implied in the ahead-searching info. The Corporation disclaims any intention or obligation to update or revise any forward-searching statements to mirror subsequent activities and situation, other than to the extent required by applicable regulation.
About Swisher Hygiene Inc.
Swisher Hygiene Inc. closed on the sale of its U.S. operations to Ecolab Inc. on November 2, 2015 and as a result has no remaining functioning belongings. On Friday, May well 27, 2016 (the “Remaining Report Date”), the Corporation submitted a Certificate of Dissolution. Pursuant to the System of Dissolution, and under Delaware regulation, the dissolution of the Organization was successful as of 6:00 p.m. Eastern Time on the Remaining Document Day. Beneath Delaware legislation, the dissolved company is ongoing for a few (3) yrs from the day on which the Certification of Dissolution was filed, unless prolonged by course of the Court docket of Chancery, to allow the Company’s directors to wind up the affairs of the company, such as the discharge of the Company’s liabilities and to distribute to the stockholders any remaining belongings. The Court docket of Chancery has extended the Company’s company existence, most just lately through December 31, 2021, nonetheless, the Firm expects its existence to finish prior to that date. Just after creating its 2nd and Closing Distribution and obtaining Delaware Courtroom approval, the Firm expects to file a last Existing Report on Type 8-K and a Kind 15 to deregister its frequent stock when the dissolution is comprehensive. For much more information and facts, make sure you stop by www.swshinvestors.com.
For Additional Facts, Please Make contact with:
Swisher Cleanliness Inc.
Trader Get in touch with:
Garrett Edson, ICR
Cellphone: (203) 682-8331
Source: Swisher Hygiene Inc.
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