DIP Financing Withdrawn for Cereplast, Inc.

Hong Yuan Holding Group, formerly Cereplast Inc, is engaged in developing and commercializing bio-based resins through two product families: Cereplast Compostables Resins, which are compostable, renewable, ecologically sound substitutes for petroleum-based plastics, and Cereplast Sustainables resins (including the Cereplast Hybrid Resins product line), which replaces up to 90% of the petroleum-based content of traditional plastics with materials from renewable resources. Its resins can be converted into finished products using conventional manufacturing equipment without additional capital investment by downstream converters. Its compostable and sustainable resins can be used in the conventional converting process that includes injection molding, thermoforming, blown film, blow molding, extrusion for profiles and extrusion coating.