Z NEWS SERVICES ASSETS FOR SALE AT PUBLIC AUCTION
Notification of Disposition of Collateral by Public Sale

Pursuant to Sections 610 & 611 of revised Article 9 of the Uniform Commercial Code (the “UCC”) NFV ZNews SPV LLC, a Texas limited liability company (“Secured Party”), will sell all right, title and interest of Z News Service, Inc. (“Debtor”), located at 2025 Guadalupe Street, Suite 260, Austin, TX 78705, in and to the “Collateral” which includes all property and assets of the Debtor, of every kind or type whatsoever, tangible, intangible, real, personal or mixed, whether now owned or hereafter acquired or arising, wherever located, and all proceeds, rents and products of the foregoing.

The Collateral will be sold to the highest qualified bidder at a public auction (the “Auction”) to be held on March 28, 2024, at 2:00 p.m. (ET).  The Auction will be held remotely via Zoom only (details for credentials to allow bids to be provided to qualified bidders and secured parties). The Secured Party reserves the right to continue or discontinue the Sale in its sole discretion.

The Secured Party will select timely delivered opening bids to be qualified bids by March 27, 2024, at 2:00 p.m. (ET) (“Qualified Bids”) and provide bidding procedures, including the opening bid and the initial bid increments. Bidders must submit a bid by March 25, 2024, at 5:00 p.m. (ET) which includes (i) evidence acceptable to Secured Party of bidder’s financial wherewithal to consummate the Sale, including but not limited to bank statements showing cash to close the Sale and/or evidence of support from a financing source; (ii) a statement that if the bid is selected as a Qualified Bid, the bidder (“Qualified Bidder”) will deposit a good faith deposit of 25% of its bid, to be deposited and received by March 25, 2024 at 5:00 p.m. (ET) (“Deposit”); and (iii) a statement that should a winning bidder fail to consummate the Sale, it will forfeit the Deposit.  The designation of Qualified Bids is within the sole discretion of the Secured Party.

The Secured Party may credit-bid any or all of the secured obligations for the Collateral.  Unless otherwise expressly proclaimed in the Auction, any bid by the Secured Party for the Collateral will be deemed to be a credit-bid. Any amount that is not credit-bid, shall be due and payable at the conclusion of the Auction (but prior to the consummation of the Sale) in immediately available funds, or on other terms determined by Secured Party in its sole discretion to be reasonable.  The Sale may be continued following the conclusion of the Auction until payment of the successful bid is completed.  The Sale will be deemed consummated upon the delivery of a Foreclosure Bill of Sale to the successful bidder for the Subject Collateral.  The Secured Party will determine which offer will be accepted as the successful bid and its decision in this regard will be final.

THERE IS NO WARRANTY RELATING TO THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, TITLE, POSSESSION, QUIET ENJOYMENT, OR THE LIKE, IN THIS DISPOSITION.  THE SUBJECT COLLATERAL WILL BE SOLD “AS IS, WHERE IS” WITH ALL DEFECTS AND FAULTS.

Prior to the sale, Debtor and any secondary obligor or other secured party may redeem the Collateral by payment of the unpaid balance due Secured Party.  As of the date of this notice, the outstanding amounts owed pursuant to the Security Documents are no less than $377,417.00 (the “Secured Obligations”), with additional cure costs of $1,557,758.70 such that Secured Party’s initial bid amount is expected to be $1,935,175.70.

For a complete accounting of the Secured Obligations, contact Secured Party’s counsel: Ronald Gellert, [email protected] James C. Bastian, Jr. [email protected] Melissa Lower [email protected]; or auctioneer Joshua Olshin, [email protected] .

Debtor will be liable for any deficiency remaining after the sale of the Subject Collateral, and the sale of the Subject Collateral shall not limit Secured Party’s rights with respect to other Collateral or against any secondary or co-obligors in respect of the remaining Secured Obligations.

Inquiries concerning the foreclosure of Secured Party’s security interests and the Sale of the Subject Collateral should be directed to the counsel for the Secured Party, as set forth above.