Asset Description
9. Eagle Hemp seeks to sell the following assets comprised of finished products and raw
materials:
Case 8:23-bk-04137-RCT Doc 54 Filed 12/18/23 Page 3 of 21
4865-9329-3463, v. 2
4
FINISHED PRODUCTS – EAGLE HEMP
PRODUCT QUANTITY EXP.
DATE
CBD Gummies
750Mg 30 Count 125,955 30-Jun-24
CBD Gummies
750Mg 30 Count 72,360 30-Jun-24
CBD Relief Cream
500 Mg 60mL 52,000 30-Jun-24
CBD Tincture
375Mg 30mL 0
CBD Tincture
750Mg 30mL 11,432 30-Jun-24
CBDa Tincture
750Mg 30mL 24,513 30-Jun-24
CBD Tincture
1500Mg 30mL 0
CBD Pet Tincture
375Mg 30mL 3,240 21-Dec-23
CBD Pet
Tincture750Mg 30mL 0
FINISHED RAW MATERIALS – EAGLE
HEMP
PRODUCT QUANTITY
Buckets/Lids - 5 Gallon 162
Filter Aid FW20 51 Bags
Filter Aid FP1 26 Bags
Hemp - Trump 803 Bags
Hemp - Cherry 764 Bags
CBD Crude Oil (Kg) 1624.154
Ethanol (Used, not usable in
future extractions)
100 Gallons
(collectively, the “EH Assets”).
10. Trim Life seeks to sell the following assets comprised of finished products:
FINISHED PRODUCTS – TRIM LIFE
PRODUCT QUANTITY EXP.
DATE
ACV Gummies 43,800 31-Aug-24
4865-9329-3463, v. 25
500mg 60 Count
Keto+ACV
Gummies 60 Count
40,800 30-Aug-24
Keto BHB Salts
Capsules 800Mg 60 Count 136,050 31-Mar-24
Detox Cleanse
Capsules 30 Count 25,830 30-Jun-24
Garcinia Gambogia
Capsules 60 Count 0
Biotin Capsules 340
Mg 60 Count 5,796 31-May-24
Nighttime Gummies
with Melatonin
18Mg 30 Count 37,125 30-Aug-24
Zinc Liquid Drops
225Mg 30mL 105,624 30-Jul-24
(collectively, the “TL Assets”).
V. Sale through Private Sale But With Deadline for Higher Bids and Auction (If
Necessary); Description of Offer; Bidding Procedures
A. Sale
11. Subject to the conditions set forth elsewhere in this Motion, the Debtors request
authority to sell to Purchaser. If another bidder timely submits a higher and better offer (“Higher
Bidder”) than the Debtors shall seek authority through a separate motion to sell to the Higher Bidder
with Purchaser as a backup purchaser. The Debtors determined that it would be in the best interests
of their creditors and their estates to maximize the value of their assets through a sale of the Assets
prior to the finished product becoming unsaleable without significant expense spent for retesting the
product and in advance of the expiration dates. Absent such a sale at this time, the Debtors believe
they would achieve less for creditors as a result of the perishable nature of the Debtors’ finished
product and other related costs for retesting and relabeling of the Assets.
Description of Offer
12. The Debtors received an offer (the “Offer”) from Arete E-Commerce Group, LLC
(the “Purchaser”) to purchase the EH Assets and the TL Assets (collectively, the “Assets”), free and
clear of any and all liens, claims, and encumbrances, except for the Assumed Obligations outlined
herein.
13. Purchaser has agreed to purchase the Assets for a total purchase price of $375,000.00
(the “Purchase Price”), consisting of one bid at $262,500.00 for the EH Assets and one at
$112,500.00 for the TL Assets.
In addition, Lease will be assumed by Eagle Hemp and assigned to
the Purchaser at closing (the “Assumed Obligations”).....
The finished product of both Eagle
Hemp and Trim Life are perishable in nature and have expiration dates that are primarily
approaching mid-next year and would necessitate retesting, thereby significantly reducing the value
of these items. The Debtors are unable to sell the product on a retail basis due to continued lack of
credit card processing.
The Offer put forward by the Purchaser provides for the Purchaser assuming
Eagle Hemp’s expenses related to the Lease, thereby relieving the Debtors’ estates from these
administrative costs.
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