The US Bankruptcy Court gave an order approving the sale of the certain assets of Teletouch Communications, Inc. on January 6, 2014. The Chapter 7 trustee has been authorized to sell its certain assets to The BMS Enterprises, Inc., the stalking horse bidder for a purchase price of $3.3 million in cash. The Stalking Horse Bidder has tendered a good faith deposit in the amount of $0.05 million to the Trustee which is being held in trust.

The debtor did not receive any other competing bids for the purchase of its assets and therefore The BMS Enterprises, Inc. emerged as the winning bidder.