Carlos Watson, CEO and co-founder of Ozy, retracted statements made about his company's future, saying it's no longer shutting down, CNN reported.

Watson, a former contributor on MSNBC and an entrepreneur, originally said Ozy was closing its operations after The New York Times published a report alleging shady business practices. Among multiple bombshell allegations, Watson and his business partner Samir Rao are accused of impersonating a YouTube executive during a call with Goldman Sachs.

Despite the former TV host's attribution of the incident to a "mental health crisis," a statement shared with CNN on Friday stated that it was "with the heaviest of hearts" the company would be "closing Ozy's doors."

He added that he didn't know Rao would be misleading Goldman Sachs executives.

"It's sad. It's difficult and it was wrong," Watson said. "Obviously, they figured it out very quickly."

Contrary to prior statements about the direction of the company, Watson announced Ozy is "going to open for business," Today reported.

"This is our Lazarus moment, if you will. This is our Tylenol moment. Last week was traumatic. It was difficult, heartbreaking in many ways," he said.

"We're back. It's not going to be easy, but I hope if people now know the name Ozy, I hope they'll sign up for our newsletters," he continued.

Watson said he takes accountability for the company's direction, placing some of the blame on marketing and mismanagement of data. He also denied any allegations of illegal practices.

Since the release of The New York Times report, three of the company's five board members have resigned according to CNN.

Employees were also told they would be receiving their final paycheck and had lost access to their work email accounts. Other staffers revealed an abusive workplace environment with 18-hour shifts and "cult" like practices.

Despite the allegations, Watson continued his press tour, speaking with radio show hosts on The Breakfast Club and defending his company, Gawker reported.

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