Subject: Public Auction Sale of certain personal property of Cubitac Corp. and Cabitac Corp. described in the Order (defined below), listed on the attached Schedule A and located at 4 Bell Drive, Ridgefield, New Jersey 07657 subject to Cross River Bank’s security interest under UCC Financing Statements #52026762, #201510140524635, #201612050573762, and #20161205573774.
PLEASE TAKE NOTICE that on June 12, 2026, starting at 10:00AM Eastern Time, Auction Advisors, as auctioneer (“Auction Advisors”), on behalf of Cross River Bank, (“Cross River Bank” or “Secured Party”), will offer for sale at a public auction under the Uniform Commercial Code, subject to the terms and conditions of the sale as set by Auction Advisors and the Stipulation and Consent Order for Turnover and Liquidation of Collateral (the “Order”) entered by The Honorable William C. Soukas, J.S.C. in the action pending the Superior Court of New Jersey, Bergen County, under Docket Number BER-L-3164-26, of certain collateral of Cubitac Corp. and Cabitac Corp. in which Cross River Bank has a security interest as described in UCC Financing Statements #53121721, #201510140524635, #201612050573762, and #20161205573774 including the brand name “Cubitac,” website with associated domain name of www.cubitac.com , cabinet component inventory and equipment, furniture and other goods set forth on the attached Schedule A.
The net proceeds of sale that Cross River Bank receives from the sale, after paying its costs, will reduce the amount Cubitac Corp. or any other obligors owe to Cross River Bank pursuant to the terms of the Order. However, Cross River Bank reserves all rights and remedies available at law and in equity for the recovery of any deficiency amount owed by Cubitac Corp. or any other obligors. Cubitac Corp. can get the property back at any time before Cross River Bank effectuates its sale by paying the full amount owed, including expenses and fees.
The sale will be conducted virtually via online video conference. Instructions on how to become a “qualified bidder” and attend the auction via online video conference are available online at www.AuctionAdvisors.com or by contacting Oren Klein of Auction Advisors at: [email protected].
Secured Party is and shall be a qualified bidder and shall be allowed to credit bid amounts due and owing to it by Cubitac Corp. in connection with any bids it may make with respect to the property listed on Schedule A.
Qualified bidders shall be required to post a $50,000.00 good faith deposit by June 10, 2026 at 4 PM Eastern Time in order to be allowed to bid at auction, which will be required to be increased to 100 percent (100%) of the successful bid by the successful bidder on or prior to NOON on the first business day after the auction. The successful bidder shall not have access to remove the purchased property until after receipt of the entire amount of the successful bid in good funds. Wire details will be provided upon request to Auction Advisors. Secured Party shall not be required to post a good faith deposit or to make payment of its successful bid unless it exceeds the amount of its credit bid. The successful bidder will also be required to promptly after auction execute a Purchase and Sale Agreement, in the form posted on Auction Advisors’ website and available by request to [email protected]. The sale will be FINAL and on an “AS-IS, WHERE IS, WITH ALL FAULTS” basis, subject to the terms and conditions of the Order, and will be made WITHOUT REPRESENTATION OR WARRANTY WHATSOEVER.
Secured Party reserves the right to establish all bidding procedures and requirements and to have prospective bidders reasonably demonstrate to the satisfaction of Secured Party that they are qualified investors and their ability to perform and close on the acquisition of the collateral. Secured Party reserves the right to credit bid at the sale. Secured Party also reserves the right to adjourn, continue, or cancel the sale without further notice.
Any interested bidder must satisfy the requirements to be a “qualified bidder” by no later than 4:00 PM Eastern Time on June 10, 2026. The auction will commence at 10:00 AM Eastern Time on June 12, 2026.
To learn the exact amount owed for a payoff or if you have any questions or need further information related to the sale, you may contact the attorney for Cross River Bank at: Maselli, Mills & Fornal, P.C., Attn. David Fornal, Esquire, 400 Alexander Park, Suite 101, Princeton, New Jersey 08540 or (609) 452-8411 ext. 112.
Alternatively, if you have questions related to the sale procedures and information on the property subject to the sale, you may contact Auction Advisors Attn. Oren Klein at 973-753- 1313 ext. 703.
If you want an explanation in writing pertaining to how Cross River Bank calculated the amount owed on the defaulted loan obligation, you may contact the attorney for Cross River Bank at: Maselli, Mills & Fornal, P.C., Attn. David Fornal, Esquire, 400 Alexander Park, Suite 101, Princeton, New Jersey 08540 or (609) 452-8411 ext. 112 and request a written explanation.
SCHEDULE A
Any tangible or intangible assets not listed on Schedule A are not being transferred in connection with this UCC Sale.
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