Nature of Engagement

On April 1, 2014 Authentech Communications Canada, Inc. (“Authentech”) filed a Notice of Intention to file a proposal to its creditors and msi Spergel Inc. was named as the Proposal Trustee.

Summary of Strategy Employed & Outcome

On April 15, 2014 Authentech’s assets were sold to NX Utilities Inc. pursuant to a Court Approval Order allowing for the continuation of the business as most employees and contracts were transferred over to the purchaser. Authentech was deemed bankrupt on May 2, 2014 and msi Spergel Inc. was appointed as the Trustee in Bankruptcy.