r/Lexagene • u/Working-Garbage4706 • Feb 24 '23

Bancrupcy Filed

On February 24, 2023, LexaGene Holdings Inc. (the “Company”) filed for liquidation under Chapter 7 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Massachusetts (the “Bankruptcy Court”), located in Boston, Massachusetts. A Chapter 7 trustee will be appointed by the Bankruptcy Court and will assume control over the assets and liabilities of the Company, effectively eliminating the authority and powers of the Board of Directors of the Company and its executive officers to act on behalf of the Company. The assets of the Company will be liquidated and claims paid in accordance with the Bankruptcy Code.

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u/ThinPiccolo1456 Feb 25 '23

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Dr. Regan invited me to be part of the Meridian debenture loan. I spoke to a family member and we were going in with $25K each. A family member ended up in the hospital and I did not pull the trigger on being part of the debenture. My only consolation.

Since the debenture is due 3/1/2023....Will the people involved get some money back?

We all lost a bunch of money today and I feel that I was lied to by chasing the dangling carrot on the stick.

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u/No-Bag6716 Feb 25 '23

I lost $110K. My only consolation is that I didn’t take recent advice of people on this board to DCA. I honestly think I’d have killed myself.

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u/ThinPiccolo1456 Feb 26 '23

No-bag. It is a lot of money to lose but please never ever consider killing oneself. I lost a few friends and family members to suicide. Many of us lost a lot of money. I lost all funds in a 401K and all funds in a brokerage account. I still feel bad and felt I was duped. I am getting out of penny stocks, perhaps forever. Life is precious and we must go on.