Press Release

D.A.T. Foreclosure and Reorganization Notice

June 8, 2012

D.A.T. Foreclosure and Reorganization Notice

Please take notice that on June 15, 2012, at 11:00 am at 49 Stevenson Street, Fourth Floor, San Francisco, CA, substantially all assets of Digital Advertising Technologies, Inc. (“Debtor”) will be sold at a public foreclosure sale in a single lot conducted by Van Wagoner Crossover Fund, L.P. or its assignee (“Secured Creditor”).  The assets being sold consist of Debtor’s (a) Receivables; (b) Equipment; (c) Fixtures; (d) General Intangibles; (e) all Intellectual Property; (f) Inventory; (g) Investment Property; (h) Deposit Accounts; (i) Cash; and (j) Goods and other tangible and intangible personal property of the Debtor whether leased, consigned by or to, or acquired by, the Debtor and wherever located.  There will be no minimum bid or reserve.  The assets are being sold as is, where is, with no warranties of any kind.  Payment will be due in certified funds or as otherwise agreed to in advance by Secured Creditor.  

“This foreclosure and reorganization is part of a recapitalization of the Company as we anticipate our launch later this year,” says Chairman and CEO, Garrett Van Wagoner. “Getting our finances in order is a precursor to additional financing opportunities coming available during the second half of 2012. We are all very excited about our new direction and believe we will have a very positive contribution to the Digital Place based media environment.”

For further information, Secured Creditor may be contacted by phone at 415-992-6900 x901.