The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of the substantially all the assets of MediaShift, Inc. on December 30, 2015. The debtor's assets include assets necessary to operate its business, including the Owned IP, and certain related assets. To qualify as a qualified bidder, interested parties should submit their bids by January 21, 2016.

The initial minimum overbid should be at least $0.5 million more than the initial purchase price. The debtor has scheduled an auction on January 25, 2016. At the auction, the first subsequent increment would be $0.15 million and the subsequent bids would be in increment of $0.1 million.

The stalking horse bidder would be entitled to an expense reimbursement of $0.2 million in the event the winning bid exceeds stalking horse bid by at least $5 million leading to termination of agreement. The sale hearing is scheduled for January 27, 2016.