Several discussions regarding reverse acquisitions have taken place, but with no successful outcome.
The sale of the technology platform did not receive bids valued at a level required to continued operation, states the company in a press release.
Despite diligent and continuous effort up until the day of filing for bankruptcy, Idogen has been unsuccessful in the two procedures that were needed to continue financing the company. Consequently, the stock has been halted for trading.
”We regret that the transactions involving reverse merger acquisitions did not succeed and that we have not received bids for the technology platform that would enable the company to continue. We are therefore no longer able to pay our running costs and debts, and are now forced to formally file for bankruptcy,” says Christina Herder, acting CEO.
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