NOTICE OF ASSIGNEE SALE: of Rainbow Books, Inc. By Assignee Joshua E. Joseph of Frontline Real Estate Partners

NOTICE OF ASSIGNEE SALE

RAINBOW BOOKS, INC.

NOTICE IS HEREBY GIVEN that March 22, 2017 at 10:00 a.m., at the office of Frontline Real Estate Partners, LLC, 477 Elm Place, Highland Park, IL 60035, Joshua E. Joseph, not individually, but solely as Trustee-Assignee for the Benefit of Creditors (the “Assignee”) of Rainbow Books, Inc. (“Rainbow”) intends to sell his right, title and interest in and to certain of the assets, as described below, of Rainbow Books, Inc. (the “Auction”).

ASSETS TO BE SOLD AT AUCTION:At the Auction, the Assignee intends to offer for sale, all of the Assignee’s right, title and interest in and to specified inventory, specified tangible personal property including access to the server housing the Software, all tradeshow and marketing items, tradenames, records, intangible property including, but not limited to, software, software licenses, webhosting agreement, new orders and goodwill and other assets as set forth in the Asset Purchase Agreement (“APA”).

TERMS OF PUBLIC SALE:  The Assignee entered into the APA with an unrelated third party (the “Initial Bidder”) for the purchase of the Assignee’s right, title, and interest in and to all of the Assets for a cash payment based on a formula set forth in the APA. The APA is subject to the Assignee’s right to solicit a higher and better offer.  All Qualified Bidders must execute an APA on substantially the same terms and remit a Good Faith Deposit in the amount of $10,000 in good funds with the Assignee prior to the deadline for bid submissions as set forth by the APA and Bidding Procedures, which is 3:00 pm CST on March 21, 2017.  The purchase price will be paid in cash and the closing shall take place within 7 days following the Auction.  The Purchased Assets will be available for viewing by appointment only.  Except as otherwise defined herein, all capitalized terms used herein shall have the meanings set forth in the APA and related Bidding Procedures.

Prospective bidders please contact Mr. Joshua E. Joseph or Mr. Eric Jacobson via email at [email protected] or [email protected] for information with respect to the Purchased Assets.

Assignee for the Benefit of Creditors of Rainbow Books, Inc.:

Mr. Joshua E. Joseph
Frontline Real Estate Partners, LLC
477 Elm Place, Highland Park, IL 60035
(847) 780-8065

Attorney for the Assignee:

Mr. Harold D. Israel, Goldstein & McClintock LLLP
208 S. LaSalle Street, Suite 175
Chicago, IL 60604
(312) 337-7700