US Dataworks Chapter 11 Plan of Liquidation Effective, Common Stock Cancelled

SUGAR LAND, Texas, Dec. 13, 2017 /PRNewswire/ -- US Dataworks, Inc. (OTC PinkSheets: UDWKQ) announced that its Plan of Reorganization by means of liquidation (the "Plan") that was previously filed with and confirmed by the U.S. Bankruptcy Court, Southern District of Texas (Case Number: 17-32765) has become effective as of today. In accordance with the terms of the Plan, effective as of today, all outstanding shares of the Company's common stock are cancelled and will receive no distributions under the Plan.

About US Dataworks

Prior to selling substantially all of its assets on July 24, 2017, US Dataworks was a leading innovator in payment processing technology. Its sole business activity since such date has been to manage the Plan through the bankruptcy court proceedings. Upon making the distributions and otherwise completing its obligations under the Plan, US Dataworks will have no assets, operations or equity owners.

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SOURCE US Dataworks, Inc.