LZG International, Inc. (LZGI) says it has no operations or revenue and that its liabilities substantially exceed its assets. Its board recommends winding down through an assignment of all assets for creditors under Chapter 727, Florida Statutes, which it describes as a cost-effective and orderly way to maximize creditor recovery. Shareholders will receive materials regarding approval of the assignment.
As of May 25, 2026, LZG estimated known liabilities at approximately $12,881,640, excluding contingent liabilities, including Genius Group Ltd.’s disputed claim based on an arbitration award that has not been confirmed. After the SEC instituted a proceeding on September 3, 2026, to suspend or revoke registration of LZG common stock, LZG said it will consent to revocation. After revocation, LZG will no longer file periodic reports, and brokers and dealers will not be permitted to effect transactions in its common stock.