VidAngel Trustee Files Reorganization Plan with Bankruptcy Court

VidAngel is announcing today that due to rapid growth over the last year, its Trustee has filed a plan of reorganization which outlines a strategy for the company to move out of bankruptcy. The company's operating results, as reflected by monthly filings over the past months and last year, reflect growth in gross revenues, emerging success of new lines of business and the stability of the company's core business.

VidAngel, Inc. Trustee, George Hofmann, has issued the following statement:

"Bankruptcy law was established by Congress to give companies a chance to rehabilitate, get back on their feet, pay their creditors, and continue to move forward. VidAngel has a reorganization plan that does just that. After entry of an adverse judgment in an amount that, initially, seemed insurmountable, the company's business and revenues are growing, and the company is expanding into new lines of business. According to third party financial experts hired to advise me in the reorganization process, VidAngel's robust growth makes paying the judgment in full feasible. I look forward to the court confirming a plan so that VidAngel can emerge from bankruptcy, pay its debts and focus on growing a great business."

VidAngel, Inc. CEO Neal Harmon has issued the following statement:

"We would not be in this position today were it not for the support and loyalty of our customers, investors, and the resilient VidAngel team. We've gone from avoiding threats of a shutdown to being able to say, 'just send us the bill'. VidAngel is turning a page in its history, and we believe that we now are moving forward stronger than we've ever been. VidAngel remains committed to helping you, the viewer, make entertainment good for your home."