Aly Energy Services, Inc. (OTCPK: ALYE) is seeking to sell its assets or equity capital yielding net cash proceeds of at least $2.5 million.The company said, "We previously reported that we entered into a forbearance agreement with Wells Fargo Bank which required us to hire an independent financial advisor and, together with such advisor, to present Wells Fargo Bank, on or before May 25, 2016, a detailed plan for asset sales or equity capital yielding net cash proceeds of at least $2.5 million. On May 25, 2016, we and our financial advisor submitted such plan to Wells Fargo Bank. The plan outlines (i) the steps taken to restructure operations, sales and administrative functions, (ii) the timetable and alternative channels being considered for the private sale of equipment and (iii) the timetable and general terms of a potential private offering of equity or equity-based securities. The plan must be acceptable to our lenders in order for the forbearance period to remain in effect until July 10, 2016, or such later date as may be determined by the lenders in any future extension of the forbearance period."