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Multimedia Platforms – Debtors and White Winston Select Asset Funds File Plan and Disclosure Statement

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August 14, 2018 – Multimedia Platforms Worldwide (“MPW”), Multimedia Platforms, Inc., a Nevada corporation (“MPI”), and New Media Frontiers Holdings, LLC, a Delaware limited liability (“NMFH” and, together with MPW and MPI, the “Debtors”), together with White Winston Select Asset Funds, LLC (“White Winston” and, together with the Debtors, the “Proponents”) filed with the Court a Chapter 11 Plan of Reorganization [Docket No. 197] and related Disclosure Statement [ Docket No.198]. The Plan notes, “Distributions under the Plan shall be made from the White Winston Advance, Net Proceeds of Actions, and Net Proceeds of D&O Claims available for Distributions in accordance with the Plan. It is anticipated that either (a) one or more of the Debtors shall be dissolved under the Plan, or (b) the Debtors shall be merged with only one of the Debtors surviving by merger, which shall be the Reorganized Debtor. The Reorganized Debtor shall prosecute Actions (other than D&O Claims) and Net Proceeds of Actions shall be distributed in accordance with the Plan. The Creditor Trustee shall be entitled and otherwise authorized to investigate and prosecute D&O Claims. The Net Proceeds of D&O Claims shall be distributed in accordance with the Plan. White Winston shall pay all litigation costs and expenses in connection with the prosecution of the D&O Claims. Likewise, as part of the Plan, White Winston shall contribute any and all claims it has against the Debtors’ former or current officers and directors. Such claims shall be prosecuted by the Creditor Trustee and Net Proceeds distributed in accordance with the Plan.”

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