Item 9 Labs Corp.: going-concern / distress — Item 9 Labs enters receivership; Chairman/Interim CEO resigns after entity he controls files for receiver

Item 9 Labs Corp.

Receiver Jeremiah Foster (Resolute Commercial) appointed July 14, 2023 by Arizona Superior Court.
Receiver granted full possession, custody, and control of all company property to maximize value for creditors and equity holders.
Receiver requested by Viridis Group Holdings and Viridis Group I9 Capital, both controlled by Douglas Bowden (Chairman/Interim CEO) and Andrew Bowden (former CEO).
Douglas Bowden resigned as Chairman and Interim CEO effective July 18, 2023; positions left vacant due to receivership.
Court stipulation agreed to by the company; receivership covers all real, personal, tangible, and intangible property.

item 1.03 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Douglas Bowden

Other Named Officer

Item 9 Labs Corp.

Filed: July 20, 2023, 7:59 PM ET

Douglas Bowden – Resignation

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Item 9 Labs Corp. entered receivership in Superior Court of Arizona, County of Maricopa (petition 2023-07-11).

Proceeding: receivership
Court: Superior Court of Arizona, County of Maricopa
Petition: 2023-07-11

Exact text from the filing

On July 11, 2023, Viridis Group Holdings, LLC (“VGH”) and Viridis Group I9 Capital LLC (“VI9”) collectively filed a motion, requesting the Superior Court of Arizona (“Court”), in the County of Maricopa, to appoint a receiver over Item 9 Labs Corp., a Delaware Corporation. The Company stipulated and agreed to the receiver appointment. On July 14, 2023, the Superior Court of Arizona, in the County of Maricopa appointed Jeremiah Foster, Resolute Commercial (“Receiver”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.4

Douglas Bowden resigned as other_named_officer at Item 9 Labs Corp..

Action: resigned

Exact text from the filing

Douglas Bowden – Resignation

View on SEC.gov

Browse all distress & bankruptcy →

Source: SEC EDGAR

accession 0001554795-23-000219

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.