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eMerge going Belly Up

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Anonymous

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This was always my number one fear of dealing with any of these data centers involving the M-ID... When times are tough whats to keep them from selling a few facts, figures, and numbers to their buddies at Tyson, Swift, etal :???:


eMerge files Chapter 11



Source: CattleLOG Animal Information Systems



February 14, 2007



We are writing to provide an update on today's announcements regarding eMerge Interactive and the CattleLog business unit.



On February 14, 2007, eMerge Interactive management filed with federal bankruptcy court for protection under Chapter 11 of Title 11 of the United States Bankruptcy Code. As a result of this process, eMerge Interactive will eventually be dissolved. Both business units of eMerge Interactive – CattleLog and VerifEYE – will be sold to new owners within the next 45 days.



Our primary concern in this process is ensuring continued availability of all existing CattleLog products and services to new and existing customers. We do not anticipate any interruption in service during this transition or afterwards. Rumors that CattleLog is going out of business or otherwise not meeting USDA verification requirements are completely false.



The process of selling the CattleLog business should be seen as a positive step for current CattleLog customers. The buyer will have the financial resources and staff depth to improve several elements of CattleLog that we simply have not had the ability to complete due to the cash constraints presented by operating the business under the eMerge Interactive public shell. All data and verification operations are continuing without interruption and all existing contracts and partnership agreements are being honored. Additionally, all current CattleLog Staff are being retained and will likely be integrated into the buyer’s organization. Once the business is officially transferred to the new buyer, we will pass that information to you.



We understand this process is confusing and we want to provide as much information to our customers as possible. If you have any questions or concerns, please contact your CattleLog Regional Sales Manager or CattleLog Customer Service at 866-239- 2665.



Sincerely,



David Warren

Chief Executive Officer



Source: CattleLOG
 
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Anonymous

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CattleNetwork_Today 2/20/2007 3:49:00 PM


eMerge Interactive To Be Delisted By Nasdaq



SEBASTIAN, Fla., Feb. 20 /PRNewswire-FirstCall/ -- eMerge Interactive, Inc. (NASDAQ:EMRG) (the "Company") today announced that it received a letter dated February 16, 2007, from The Nasdaq Stock Market, LLC's ("Nasdaq") Listing Qualifications Department informing the Company that, in light of the Company's filing for protection under Chapter 11 of the U.S. Bankruptcy Code on February 14, 2007, the Company's common stock will be delisted from The Nasdaq Capital Market at the opening of business on February 27, 2007, pursuant to Marketplace Rules 4300 and IM-4300. The Company does not intend to appeal the delisting determination.



The letter from Nasdaq further indicated that if the Company's common stock is delisted from the Nasdaq's Capital Market, the Company's common stock will not be immediately eligible to trade on the OTC Bulletin Board or in the "Pink Sheets." The Company's common stock may become eligible to so trade only if a market maker makes application to register in and quote the Company's common stock in accordance with SEC Rule 15c2-11 and such application (a "Form 211") is cleared. Only a market maker, not the Company, may file a Form 211.



The Company has advised the public, and reiterates, that the likely outcome of the Company's Chapter 11 case is the cancellation of the Company's existing common stock for little or no consideration, in which case the Company's common stock would have little or no value.
 
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