Aphex BioCleanse Systems filed a voluntary petition under Chapter 11, subchapter V of the U.S. Bankruptcy Code. The petition was filed on May 12 in the United States Bankruptcy Court Middle District of Florida, Tampa Division.
The filing was precipitated by the litigatory actions of certain former directors and officers that while unfounded have damaged the business integrity of the company and endangered the company’s shareholders as well as inhibiting the ability of the company to raise working capital and market its products.
The actions of these persons have included illegal and unfounded filings in Nevada, and numerous erroneous and illegal emails and communications designed to misinform company shareholders and distributors. This includes the former CEO and chairman executing false documents impersonating the CEO and other officer titles of the company months after being terminated for cause. This former CEO is now instrumental in leading the attempts to damage and take over the company.
Aphex plans to submit a timely reorganization plan and seek debtor in possession financing to drive the marketing of its unique sanitizing water known as Hy-IQ and related products.
