The purpose of this notice is to provide our customers, vendors, and staff an update regarding Borona Arts Entertainment, LLC (“BOA”) the parent company that runs Artistic Dance Exchange (“ADE”).

 

Please be advised that BOA is unable to continue in business as a going concern, and effective immediately, BOA and ADE are ceasing operations.  Any unperformed contractors or agreements to which BOA or ADE are a party will not be performed. Similarly, any unpaid liabilities of BOA or ADE will be unable to be paid.

 

This decision was made in view of the fact that the company lacks sufficient assets to maintain business operations as a going concern and the alternatives that we explored, such as obtaining new sources of financing or a chapter 11 reorganization, were not viable.

 

Please also be advised that my partner and I intend to file personal Chapter 7 bankruptcy cases shortly in the United States Bankruptcy Court.  If you are a creditor or otherwise owed money from BOA or ADE and we have your mailing address on file, you will receive notice directly from the Bankruptcy Court via the U.S. Mail.

 

If we do not have your current mailing address on file, kindly send it to us via reply email to  ADElegalAid@gmail.com

 

Please be further advised that any further communications should be directed to ADElegalAid@gmail.com or by telephone  ‪(551) 361-1372.  The emails and phone numbers for BOA/ADE will go offline shortly.

 

Juan and I will always treasure the wonderful experience we had working with all of our customers, vendors, and staff on Artistic Dance Exchange over the years.  We regret that this message may come as a disappointment, and we thank you for the opportunity to have worked together.

 

All the best,

 

Juan Borona and Alexander Chan

 

Artistic Dance Exchange