Year-end valuation 2015: The board of directors of ProgressNow!investAG announce that the net asset value of the ProgressNow!investAG share per December 31st 2015 is negative, that is CHF -0.28 per share (preliminary undaudited figure).
ProgressNow!investAG expects a loss for the year of CHF 2.96 Mio., CHF 4.22 per share. The loss is mainly due to the reduction in the valuation of Velico Medical, Inc as per June 30th 2015 from USD 0.30 to USD 0.06 per share.

Opening of bankruptcy proceedings over ProgressNow!investAG:
As communicated in the press release of March 3rd 2016, the board of directors was forced to deposit the balance sheet with the bankruptcy judge as a result of insolvency and the threat of overindebtedness. Based on this the judge of the district court of Frauenfeld opened the bankruptcy of ProgressNow!investAG in summary proceedings on March 8th 2016 at 11:00 am.
For completeness it should be noted that an appeal against the decision can be filed within 10 days at the high court of the Canton of Thurgau. An appeal does not affect the validity and enforceability of the decision.

ProgressNow! invest AG issued this content on 10 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 March 2016 09:33:29 UTC