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Domain name and website auction delayed to give bidders more time to evaluate assets.
More than 60 parties have expressed interest in acquiring the assets of the defunct business The Income Store, a court filing (pdf) reveals.
The SEC alleges that The Income Store, which took investor money to create income-generating websites, was a Ponzi scheme. A court-appointed receiver selected Right of the Dot as the auctioneer to sell off the company’s remaining assets.
The auction was supposed to take place today, but the receiver filed a last-minute request with the court today to extend the auction date by six days.
According to the court filing, lots of people are interested in the assets but they haven’t had time to perform due diligence:
As of the filing of this Motion, the Receiver and her auctioneer have registered more than sixty (60) parties who have expressed interest in the Assets and participating in the auction. However, a number of potential bidders have requested additional time to complete their due diligence with respect to the Assets, including reviewing the records the Receiver has made available in the confidential data room which potential bidders may access upon executing a nondisclosure agreement and non-affiliation declaration.
The auction will now take place on June 16.
Post link: More than 60 parties inquire about The Income Store assets
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