Determine announces winding up, liquidation, and dissolution
Determine announced that its board has determined that since the company has now completed the sale of substantially all its assets to Corcentric, it is in the best interest of the company and its stockholders to effect the winding up, liquidation and dissolution of the company and distribute the net cash proceeds of the sale to its stockholders as soon as practicable after provision for the company's existing obligations. The winding up, liquidation and dissolution of the company has been approved by the company's stockholders. The company currently estimates that there will be between 10c-14c per share of common stock of the company initially available for distribution. The company anticipates that a subsequent distribution of between 1c-11c per share may be available following the one-year anniversary of the closing of the asset sale and release of any escrow proceeds thereafter in April 2020.