The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of the substantially all the assets of Scoobeez, Inc. on September 17, 2019. The Court approved the asset purchase agreement between the debtor and Hillair Capital Advisors LLC, the stalking horse bidder, for the sale of substantially all its assets. To qualify as a qualified bidder, interested parties should submit their bids by October 13, 2019. The initial minimum overbid should be in the amount of at least $9 million plus the Expense Reimbursement of $0.15 million, plus a $0.05 million minimum overbid amount, all in cash. If the debtor receives any qualified bids then it would hold an auction for its assets on October 14, 2019. At the auction, the subsequent bids would be in increments of $0.05 million. The stalking horse bidder would be entitled to a break-up and expense reimbursement of $0.15 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for October 17, 2019.