GeneLink Inc. filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 13, 2014. As per the plan filed, allowed administrative expense claims, professional fees will be paid in full in cash. Allowed interim DIP loan administrative claim amounting $0.18 million will be settled by issuing new equity.

Allowed unsecured claims amounting $0.49 million will be settled by issuing a promissory note. Equity interests in the debtor will be cancelled. The plan will be funded by cash in hand of $0.04 million and the new equity contribution amounting to $0.4 million.