April 22, 2018 9:04 AM ET

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Company Overview of 4Licensing Corporation

Company Overview

4Licensing Corporation operates as a licensing company that specializes in the end-to-end development of licensed products and programs for the sports and entertainment industries. The company, through its subsidiaries, licenses merchandising rights to children’s television series, films, properties, publishing, and product concepts; builds brands through marketing and licensing; develops licensed ideas and concepts for sports and entertainment industries; plans to forge new licensing relationships in the sports industry; and develops licensed games and mobile applications that engage targeted consumers and drive revenue for brands. It also develops, manufactures, and distributes private lab...

767 Third Avenue

17th Floor

New York, NY 10017

United States

Founded in 1970

6 Employees

Phone:

212-758-7666

Fax:

212-754-5481

Key Executives for 4Licensing Corporation

Director
Age: 57
President of 4Kids Ad Sales Inc
Age: 62
President of 4LC Sports & Entertainment Inc
Vice President of Marketing & Licensing
Vice President of Finance
Compensation as of Fiscal Year 2017.

4Licensing Corporation Key Developments

4Licensing Corporation Deleted From Other OTC

4Licensing Corporation's new common stock deleted from Other OTC, effective February 7, 2017. The deletion was due to bankruptcy plan effective/shares cancelled.

Combined Reorganization Plan Approved for 4Licensing Corporation

The US Bankruptcy Court approved the combined plan of reorganization of 4Licensing Corporation on January 20, 2017. The debtor has filed its amended plan in the Court on November 4, 2016. As per the plan, each holder of an Allowed Priority Claim shall be paid the Allowed Amount of such Claim in full in cash 20 days after the date such Priority Claim becomes an Allowed Priority Claim. Prescott Secured Claims will be paid on the effective date by conversion of Prescott note 1 into 58,000 shares of new common stock. Prescott notes 2, 3 and 4 will be paid collectively on the effective date the amount of $0.11 million. On the effective date, the vested assets shall vest in reorganized debtor free and clear of the liens, claims, interests and encumbrances of Prescott. Prescott has agreed to waive any deficiency claim that would be a class 4 claim arising from the failure to pay Prescott’s claim in full if class 4 votes to accept the plan. Rudd secured claim will be paid on the effective date by one of the following treatments depending on an election to be made by Rudd within 60 days after the effective date: (a) conversion of the Rudd note into 3,673 shares of new common stock or (b) the payment of $0.04 million. On the effective date, the vested assets shall vest in reorganized debtor free and clear of the liens, claims, interests and encumbrances of Rudd. Rudd has agreed to waive any deficiency claim that would be a class 4 claim arising from the failure to pay Rudd’s claim in full if class 4 votes to accept the plan. Unsecured claims shall receive its pro rata share of the distribution fund that shall be the amount of $0.01 million. Payments to holders of class 4 claims shall be made after the final determination of the amount of all allowed class 4 claims. Payments to holders of allowed class 4 claims shall be made by reorganized debtor from the distribution fund, which shall be funded on the effective date. The total amount of class 4 claims may be in the range of $1.35 million to $0.27 million and debtor’s best estimate of distributions to holders of allowed class 4 claims shall be in the range of 0.74% to 3.76% depending if class 4 votes to accept the plan. The distributions to holders of allowed class 4 claims will be substantially less than this estimate if class 4 does not vote in favor of the plan and Prescott and Rudd’s deficiency claims are included in class 4. Until such time as the amount of allowed class 4 claims is determined, it is impossible to ascertain with any certainty the amount that each holder of an allowed class 4 claim will receive pursuant to this plan. Holders of equity interests in class 5 shall receive no distribution on account of such equity interests and such equity interests shall be cancelled and extinguished on the effective date.

Combined Reorganization Plan and Disclosure Statement Filed by 4Licensing Corporation

4Licensing Corporation filed a combined plan of reorganization and disclosure statement in the US Bankruptcy Court on November 4, 2016. As per the plan filed, unless otherwise agreed to by the parties, each holder of an Allowed Priority Claim shall be paid the Allowed Amount of such Claim in full in cash 20 days after the date such Priority Claim becomes an Allowed Priority Claim. Prescott Secured Claims will be paid on the effective date by conversion of Prescott note 1 into 58,000 shares of new common stock. Prescott notes 2, 3 and 4 will be paid collectively on the effective date the amount of $0.11 million. On the effective date, the vested assets shall vest in reorganized debtor free and clear of the liens, claims, interests and encumbrances of Prescott. Prescott has agreed to waive any deficiency claim that would be a class 4 claim arising from the failure to pay Prescott’s claim in full if class 4 votes to accept the plan. Rudd secured claim will be paid on the effective date by one of the following treatments depending on an election to be made by Rudd within 60 days after the effective date: (a) conversion of the Rudd note into 3,673 shares of new common stock or (b) the payment of $0.04 million. On the effective date, the vested assets shall vest in reorganized debtor free and clear of the liens, claims, interests and encumbrances of Rudd. Rudd has agreed to waive any deficiency claim that would be a class 4 claim arising from the failure to pay Rudd’s claim in full if class 4 votes to accept the plan. Unsecured claims shall receive its pro rata share of the distribution fund that shall be the amount of $0.01 million. Payments to holders of class 4 claims shall be made after the final determination of the amount of all allowed class 4 claims. Payments to holders of allowed class 4 claims shall be made by reorganized debtor from the distribution fund, which shall be funded on the effective date. The total amount of class 4 claims may be in the range of $1.35 million to $0.27 million and debtor’s best estimate of distributions to holders of allowed class 4 claims shall be in the range of 0.74% to 3.76% depending if class 4 votes to accept the plan. The distributions to holders of allowed class 4 claims will be substantially less than this estimate if class 4 does not vote in favor of the plan and Prescott and Rudd’s deficiency claims are included in class 4. Until such time as the amount of allowed class 4 claims is determined, it is impossible to ascertain with any certainty the amount that each holder of an allowed class 4 claim will receive pursuant to this plan. Holders of equity interests in class 5 shall receive no distribution on account of such equity interests and such equity interests shall be cancelled and extinguished on the effective date.

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