TULSA, Okla.--(BUSINESS WIRE)--4Licensing Corporation (OTC Pink: FOUR):
On September 21, 2016 (the "Petition Date"), 4Licensing Corporation (the "Debtor") filed a petition in the United States Bankruptcy Court for the Northern District of Oklahoma seeking relief under the provisions of Chapter 11 of the United States Bankruptcy Code.
The plan of reorganization has not yet been finalized, but management does not currently anticipate any recovery for shareholders.
About 4Licensing Corporation - 4Licensing Corporation (“4LC”) is a licensing company specializing in specialty brands, technologies and youth-oriented markets.
The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors beyond 4LC’s control, including general economic conditions, consumer spending levels, competition from toy companies, motion picture studios and other licensing companies, the uncertainty of public response to the company's properties and other factors could cause actual results to differ materially from 4LC’s expectations.