Carlos Watson, the CEO of scandal-plagued Ozy Media tried Monday to dispel the many scandals that caused his company’s collapse last week, while promising to revive it despite investors’ and advertiser flight.

This is yet another shocking twist in the sudden collapse of the media company. Watson had told employees on Friday that Watson had advised them of the decision by the board to shutter the company. CNBC reported

Watson admitted that they were “premature” during a speech.Squawk BoxInterview of the decision. He stated that during the weekend the company had “good talks” with both investors and marketers.

He said, “We still have many things to do, but we are able to make a difference and have an impact on the world.” This will be our Lazarus moment, at our best.

The company has not yet announced if its staff will be returning. Axios said that there were 75 full-time employees.

The Times first reportedSamir Rao was the chief operating officer of the company. He impersonated a YouTube executive while trying to get a $40m investment. According to reports, the company also inflated viewer statistics.

This report started a weeklong period of investigation and departures.

Billionaire investor Marc Lasry resignedOzy Media’s chairperson, she stated that Ozy Media needed to have experience with crisis management and investigation. Katty Kay (ex-BBC anchor) is another former BBC reporter. resigned from the company

CNBC also reported on Thursday that Watson lied when he claimed Sharon and Ozzy Osbourne invested in his company. Ozy also promised former producers that it was filming a show for A&E, which later turned out to be a lie.

This report was contributed by Alex Sherman, CNBC.

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