Exhibit
99.1
Contact:
Joseph
Hassett
Senior
Vice President, Investor Relations
Gregory
FCA Communications
(610)
228-2110
joeh@gregoryfca.com
a21,
Inc. Completes Auction of Its Business; Bankruptcy Court Confirms Plan of
Liquidation
Jacksonville, FL – January 16,
2009 – a21, Inc. (ATWOE.OB) today
announced that the US assets of its subsidiaries, SuperStock, Inc. and
ArtSelect, Inc., and the stock of its UK subsidiary, SuperStock, Limited, were
sold at auction at the United States Bankruptcy Court for the Middle District of
Florida, Jacksonville Division , which was previously announced as part of its
plan of bankruptcy. The following was determined at the
auction:
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RGB
Venture Partners, a joint venture comprised of Rubberball Productions LLC,
Glow Images LLC, and Blend Images LLC, was the winning bidder for the U.S.
assets of SuperStock, Inc. RGB Venture Partners will pay
$2,825,000 for the U.S. assets of SuperStock,
Inc.
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Ingram
Image Limited, a company incorporated in England and Wales, was the
winning bidder for the shares of SuperStock, Ltd. Ingram Image
Limited will pay $50,000 for the shares of SuperStock,
Ltd.
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Art.com,
Inc., a Delaware corporation, was the winning bidder for the assets of
ArtSelect, Inc. Art.com, Inc. will pay $1,625,000 for the
assets of ArtSelect, Inc.
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The Court
also confirmed the Combined Plan of Liquidation. No distributions
will be available for shareholders. Unsecured creditors will receive
$125,000. The remaining proceeds will be shared by the various
secured creditors as described in the Combined Plan of Liquidation.
More
information about the bankruptcy filing and various orders approved by the Court
can be found on the Company’s website at www.a21group.com.
About
a21
a21
(www.a21group.com) is
a leading online digital content company. Through SuperStock (www.superstock.com;
www.mediamagnet.com;
www.superstock.co.uk;
and www.purestockx.com),
and ArtSelect (www.artselect.com;
www.postersetc.com),
a21 delivers high quality images, art framing, and exceptional customer service.
a21 and its companies, with offices in Florida, Iowa, and London, provide
valuable and viable choices to key business partners and customers in the stock
image, art and wall decor industries.
The
statements contained in this press release contain certain forward-looking
statements, including statements regarding a21, Inc.’s expectations, intentions,
strategies, and beliefs regarding the future. All statements contained herein
are based upon information available to a21, Inc.’s management as of the date
hereof and actual results may vary based upon future events, both within and
without the control of a21, Inc.’s management.