Rudolf Suter,
Pro Fit CEO 
and president.
GRAPEVINE, Texas—Pro Fit Optix,the global manufacturer and lens technology company based here, is reorganizing after filing a Chapter 11 bankruptcy petition on Feb. 9. The Chapter 11 petition, filed in U.S. Bankruptcy Court, Southern district of Florida, is the result of what Pro Fit called “an aggressive proxy fight” with its parent company, Carpathian Resources Ltd. (ASX: CPN), an investment company based in Australia. Under Chapter 11, Pro Fit Optix is allowed to continue operations as it formulates a reorganization plan.

Pro Fit said that a secured creditor, which Pro Fit declined to identify, has agreed to advance a “seven figure amount of additional capital” to allow operations to continue. Pro Fit said it will petition the court within the next few days to approve the new round of funding.

“This temporary filing, in light of the proxy dispute, is the best vehicle to obtain necessary financing to keep the company vibrant and successful. Despite this temporary filing, Pro Fit will continue to invest and support the global growth and development of the company. Pro Fit Optix is strong and will continue to operate without interruption,” said Rudolf Suter, CEO and president of Pro Fit. We are committed to serving our customers and strategic partners during this transition period.”