Founder Mark Alessi has been granted permission by the court supervising CrossGen's Chapter 11 bankruptcy to lend the company $75,000 as a partial advance against $150,000 in proposed debtor-in-possession financing.  The DIP financing will receive a priority lien against CrossGen assets.  The financing is described as critical to preserve the value of the assets for CrossGen's creditors.  A final hearing on the full $150,000 proposed financing will be held on August 3rd.


Alessi provided extensive equity and debt financing to the company prior to its bankruptcy.