AtheroNova Operations, Inc. filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 22, 2015. As per the plan filed, administrative expenses, US Trustee fees, professional fees of $0.08 million, priority tax claims of $0.85 million and priority unsecured claims of $5,000 shall be paid in full in cash. Secured claims of $4.66 million shall be paid through transfer of title to all of the Intellectual Property and 5 million shares in reorganized AtheroNova, Inc. General unsecured claims of $0.82 million will receive a payment of 5% of the amount of their allowed claim within 30 days following the plan effective date.

In addition, a total of 1 million of newly issued, restricted shares of common stock in AtheroNova will be issued to the claim holders. They may also be paid additional cash from the amount given to debtor because of reverse merger transaction. Interests of AtheroNova, Inc, shall be considered outstanding.

The plan shall be funded from estate funds, transfer of Intellectual Property and issue of new shares.