"It was not enough, nor in enough time, to stave off bankruptcy," she said. "An infusion of an immediate $200,000 would have allowed us to file for a Chapter 11 bankruptcy, giving us time to continue operations and restructure, to continue to seek a buyer for our property(ies), to work with the steering committee, and, potentially, to survive. Without it, and with many creditors, now being insolvent, we are facing a Chapter 7 bankruptcy this week."