Advanced Technologies, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on November 25, 2015. The debtor seeks the Court's approval for the sale of its certain assets to Vast Billion Development Ltd., for a purchase price of $26.6 million in cash pursuant to a purchase order. The debtor's assets include 567 ASF Furnaces.

The assets would be excluded from the auction to be scheduled on December 2, 2015. The debtor would continue to seek better or higher offer for these assets prior to the court order. The stalking horse bidder would be entitled to expense reimbursement of $0.1 million in case of termination of the purchase order.

The hearing purchase order is scheduled for December 1, 2015.