Affinity Technology Group, Inc. (AFFI.OB) reported a net loss of $514 thousand or $0.01 per share on revenues of 8 thousand for the second quarter, compared to a net loss of $476 thousand or $0.01 per share on revenues of $8 thousand for the year-ago quarter.
Additionally, Affinity announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, District of South Carolina. In connection with the proceeding, the company has filed motions with the court requesting permission to go forward on the basis of a debtor-in-possession to execute its plan of offering its patents and other assets for sale under the supervision of the Court.
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