Phoenix Biotechnology 10,000 stock shares
A 5% Buyer's Premium will be added to the final Sales Price. All applicable taxes will be assessed based on the sum of the sales price and buyer's premium.
The shares of this company are not publicly traded and therefore have not been registered under the Securities Act of 1933. Neither the Receiver nor any of the professionals providing services to the Receivership have any involvement in Phoenix Biotechnology other than obtaining possession of these shares through the Receivership asset seizure process and by Court order. For any information regarding Phoenix Biotechnology, you must contact the company directly, refer to its website phoenixbiotechnology.com, or conduct an independent search of publicly available records. The Receiver makes no representations or warranties regarding the status of this company or the value of its shares.
DETAILS
Welcome to the auction of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in a civil enforcement action, Securities and Exchange Commission v. Arthur Nadel. et al., Case No. 8:09-cv-0087-VMC-CPT in the United States District Court for the Middle District of Florida, Tampa Division (the “Nadel Receivership”). For information regarding this Receivership, please refer to the Receivership’s website, www.nadelreceivership.com.
Pursuant to the Court’s order entered on May 14, 2025., the Receiver is auctioning 143,218 shares of common stock of Phoenix Biotechnology Inc., a San Antonio Texas based biotechnology company. The Receiver obtained these shares from an individual investor who was a participant in the Ponzi scheme at issue in the Nadel Receivership. Phoenix Biotechnology, Inc. was not alleged to be a part of this scheme and there is no evidence that it had any involvement in the scheme.
The shares of this company are not publicly traded and therefore have not been registered under the Securities Act of 1933. Neither the Receiver nor any of the professionals providing services to the Receivership have any involvement in Phoenix Biotechnology other than obtaining possession of these shares through the Receivership asset seizure process and by Court order. For any information regarding Phoenix Biotechnology, you must contact the company directly, refer to its website phoenixbiotechnology.com, or conduct an independent search of publicly available records. The Receiver makes no representations or warranties regarding the status of this company or the value of its shares.
The Receiver will hold this auction October 28, 2025 through November 4th 2025. The shares will be sold in lots of 10,000 with one odd lot of 13,218. This auction is with a reserve and initial bid price of $0.10 per share. Lots are subject to prior sale. If any prospective purchaser would like to make an offer less than this amount, they should contact the receiver directly at Burt@BurtonWWiandPA.com. Approved bidders will be able to bid online only during the auction dates.
This auction is to begin online October 28, 2025, at 11:00 AM EST.
All prospective bidders must request the ability to bid in this auction in advance through the login/registration link on this web page. Approval is given upon fulfilling the bidding requirements, which include a $10.00 participation fee. Please refer to the Terms and Documents sections for this auction for more information.
If you have any questions about this upcoming auction, please email Simi@receivership-auctions.com.
Helpful Reminders:
- Please make sure that email correspondence from Receivership-Auctions.com is not being sent to a “spam” or “junk” folder. Receivership-Auctions.com will provide updates and information to the email address used for registration as the auction progresses.
- To be approved to enter the auction and bid on any lots, participants are required to agree to the participation terms and a $10.00 fee on a credit card. Participants WILL NOT be allowed to bid until these requirements have been met.
- All documents governing this auction, including the Stock Purchase Agreement, are located in the Documents section of this web page.
- If you are the winner of a lot in the auction, DO NOT MAKE ANY PAYMENTS THROUGH RECEIVERSHIP-AUCTIONS.COM, be sure to follow the steps referenced in the Participation Terms to ensure your timely payment.
- Any Agents must have their Buyer's register on Receivership-Auctions.com as the person who agrees to the terms to purchase the shares if they are the winning bidder.
- All bidders are required to make a 10% deposit after the auction per the term agreements attached in Documents.
- An additional 5% buyer’s premium will be added to all winning bids.
- Neither the Receiver nor Receivership-Auctions.com make any representations or warrants regarding the shares at auction. It is the Buyer’s sole responsibility to conduct appropriate due diligence.
PARTICIPATION TERMS
These Participation Terms (“Terms”) apply to the auction of Phoenix Biotechnology, Inc. shares of common stock held by the Nadel Receivership (the “Auction”). As used in these Terms, each prospective buyer who participates in this Auction is a “Participant.” The Terms provided here are in addition to the General Terms of Receivership-Auctions.com (“Receivership-Auctions”) and other documents provided on the Auction website.
The winning bidder (“Buyer”) is the Participant that (a) submits the highest net bid for each lot in the Auction and is acknowledged by Receivership-Auctions by email or telephone as the winning bidder, or (b) submits any offer during the Auction that is accepted by Burton W. Wiand as Receiver for the Nadel Receivership (“Seller”). As used in these Terms, each bid or offer submitted in any Auction is an “Offer.”
Receivership-Auctions is conducting this Auction on behalf of the Receiver Burton W. Wiand and is not acting as an agent for any Participant in any capacity. By registering for this Auction or submitting an Offer at www.Receivership-Auctions.com, Participant acknowledges having read and accepted these Terms. By submitting an Offer on any lot of Phoenix Biotechnology shares, Participant is deemed to have accepted any additional terms and conditions posted on the Receivership-Auctions.com website for this Auction at the time an Offer is submitted, and such terms and conditions shall govern and control over these Terms to the extent of any conflict.
1. ACCOUNT CREATION AND REGISTRATION PROCESS
Upon registering for this Auction, Participants are required to place a $10.00 deposit to confirm acceptance and compliance with these Terms (“Participation Fee”). Receivership-Auctions may modify, waive, or impose additional participation requirements for Participants in its discretion or at the Seller’s request. The procedures and terms for auction transactions are conducted pursuant to the terms and procedures contained on Receivership-Auctions.com. From time to time the Seller or Receivership-Auctions may amend these terms. Any transaction through Receivership-Auctions shall be governed by the terms and procedures contained on the Auction website at the time the Auction is conducted and a Buyer is determined.
2. PURCHASE DOCUMENTS AND DUE DILIGENCE
Purchase Documents. Prior to submitting an Offer, Participants must review the Terms and Procedures for Closing Auction Purchases (“Terms and Procedures Agreement”), General Terms, the Stock Purchase Agreement, and all other documents and terms on the Documents Page (collectively, “Purchase Documents”). All Offers must be based on the posted Purchase Documents. Unless otherwise specified, the Purchase Documents are non-negotiable. Bidders agree to the terms of the Purchase Documents by entering a bid. Each Participant agrees that by registering for the Auction and bidding on a lot a written enforceable contract for the purchase of a lot is formed according to the Terms and Purchase Documents specified on Receivership-Auctions.com for this Auction. Each Participant agrees that registering and placing a bid constitutes its written agreement to be bound by the Auction’s Terms and the Purchase Documents to purchase the subject shares.
Due Diligence. It is each Participant’s responsibility to conduct its own due diligence and investigate all matters relating to the Phoenix Biotechnology shares including, without limitation, company matters, financial matters, and all other aspects. For any information regarding Phoenix Biotechnology, you must contact the company directly, refer to its website phoenixbiotechnology.com, or conduct an independent search of publicly available documents. The Receiver makes no representations regarding the status of this company or the value of its shares. Participants submit Offers at their own risk. All Offers should be based solely on Participant’s independent due diligence. Any information contained in the Purchase Documents is believed to be accurate but should be verified by a Participant before relying thereon. The Receiver has acquired these shares as part of a law enforcement action and thus cannot verify particulars about the issuer.
Participants are advised to review public records and consider any available information in making their decisions to bid on the shares being auctioned.
Any information material to a Participant should be independently verified by the Participant. Participants are encouraged to consult with an attorney, financial advisor, tax advisor, and/or any other relevant professionals.
3. BUYING
Irrevocability of Offers. All Offers submitted during the Auction are irrevocable. Offers may be accepted at any time after submission.
Signing Purchase Documents. The final Purchase Documents will be emailed to the Buyer for electronic signature using the email address associated with the Buyer’s Receivership-Auctions’ account. Buyer must sign and return a copy of the Terms and Procedures Agreement and Stock Purchase Agreement within one business day after they are sent to the Buyer (unless a longer timeframe is specified or agreed to in writing by Receivership-Auctions or Seller), time being of the essence. If Buyer fails to timely sign the Purchase Documents, Receivership-Auctions or Seller may declare Buyer to be in default and reject Buyer’s Offer or seek specific performance of the contract or damages.
Payment for Purchases by Winning Bidder. The Purchase Documents for each lot require the Buyer to pay a deposit of 10% of the total invoice amount to the Trust Account of Burton W. Wiand, PA (“Trust Account”) as specified in the Terms and Procedures Agreement. Unless otherwise agreed to in writing by the Seller or Receivership-Auctions, the initial deposit must be received within 24 hours after Buyer is notified of acceptance of its Offer and receives wire instructions, time being of the essence. If the initial deposit is not timely received, Receivership-Auctions or Seller may declare Buyer to be in default and Seller may reject winning Buyer’s Offer or seek the other remedies described above. Payment of the remaining portion of the purchase price must be made by wire transfer to the Trust Account within five (5) business days after notification to the Buyer that is it the winning bidder as specified in the Terms and Procedures Agreement. A Buyer may request Receivership-Auctions to allow additional time to secure financing. However, purchases are cash purchases and under no circumstances are the Buyer’s obligations contingent on financing. Absent a separate written agreement for a delay to secure financing, all payments must be made pursuant to the Terms and Procedures Agreement and the times specified therein. A defaulting Buyer also will be liable to Receivership-Auctions for expenses incurred in offering the shares at Auction and for any subsequent Auction of the shares.
Proof of Funds and Additional Information. Receivership-Auctions may require Participants to provide proof of readily available funds and/or additional information at any time. Participants must respond to such inquiries within one business day, time being of the essence. If such proof of funds or additional information is not timely received, Receivership-Auctions or Seller may reject Buyer’s Offer or exclude the Participant from the Auction. Buyers wanting to take title in the name of an entity (not as an individual) may be required to provide entity formation documents and resolutions authorizing the purchase within the timeframe specified by Receivership-Auctions (which may be before or after the Auction, in Receivership-Auctions’ or Seller’s discretion). Receivership-Auctions or Seller may require additional documentation prior to transfer. Receivership-Auctions may exclude any Participant or potential participant at any time for any reason.
Buyer’s Premium. A 5% Buyer’s premium or transaction fee (“Buyer’s Premium”) applies to all sales. The Buyer will be required to pay the Buyer’s Premium in addition to Buyer’s Offer amount before transfer of the shares. As shown in the Terms and Procedures Agreement, the Buyer’s Premium will be added to winning Buyer’s Offer amount to establish the total purchase price to be paid by Buyer.
Any disputes relating to the Auction or any transaction shall be resolved by summary proceeding without a jury before the United States District Court overseeing the Nadel Receivership in the Middle District of Florida, Tampa Division.
United States
