---

         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, January 26, 2015, Vol. 19, No. 26

                            Headlines

ACG CREDIT: Court Approves Majorie as Litigation Counsel
AFFIRMATIVE INSURANCE: Jon Old Has 17.8% Stake as of Dec. 31
ALEXZA PHARMACEUTICALS: EVP Research and Development Quits
AMERICAN EAGLE: Moody's Lowers Corporate Family Rating to 'Ca'
AMERICAN NANO: Paritz & Company Raises Going Concern Doubt

AMERICAN POWER: Van Steenwyk Reports 5.3% Stake as of Jan. 5
AMERICAN REALTY: S&P Retains 'BB' CCR on CreditWatch Negative
AMPLIPHI BIOSCIENCES: Ernst & Young Hired as New Auditors
AMSS LLC: Case Summary & 9 Largest Unsecured Creditors
AP-LONG BEACH: Amends List of Top Unsecured Creditors

APOLLO MEDICAL: Signs Consulting Agreement with Flacane
ARRAY BIOPHARMA: BlackRock Has 8.6% Stake as of Dec. 31
ARRAY BIOPHARMA: Has Agreement to Acquire Encorafenib
ASPEN GROUP: Leon Cooperman Reports 7% Stake as of Dec. 31
ATHERTON FINANCIAL: Addresses Objections to Dismissal Bid

AUXILIUM PHARMACEUTICALS: Transfers IP Rights to XIAFLEX
BEER JOINT: Files for Chapter 7 Liquidation
BLACK ELK: S&P Withdraws 'CCC-' CCR at Company's Request
BLUE JACKET: Will Remain Open, To Add Lunch Menu
BOREAL WATER: Shareholders Re-elect Francine Lavoie as Director

BRIDGE FINCO: Moody's Rates Senior Secured 1st Lien Debt 'B2'
BROADWAY FINANCIAL: Paul Hudson Resigns From Boards
BROWNIE'S MARINE: Hires RBSM LLP as New Accountants
C WONDER: Case Summary & 20 Largest Unsecured Creditors
C WONDER: Files for Chapter 11; Shutting Down Business

CACHE INC: 2nd Bankr. Filing Expected This Week, Sources Say
CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 11% Off
CAESARS ENTERTAINMENT: 2021 Bank Debt Trades at 9% Off
CAESARS ENTERTAINMENT: Could Seek Injunction to Block Suits
CAESARS ENTERTAINMENT: Restructuring Not Simple Fix, Fitch Says

CITGO HOLDING: Moody's Assigns Caa1 CFR & Rates $1BB Loan Caa1
CITGO PETROLEUM: S&P Affirms 'B-' Corp. Credit Rating
CLINICA REAL: Creditors Want Until April 1 to File Complaint
CLOUDEEVA INC: Court OKs Withdrawal of Trenk Dipasquale as Counsel
CONNEAUT LAKE: 4 Creditors Added in Largest Unsec. Claims List

CONTINENTAL BAR: Files for Chapter 11 Bankruptcy Protection
CORD BLOOD: Asks Shareholders to Vote for Common Shares Hike
CRUMBS BAKE SHOP: Parties Seek Delay of Conversion Hearing
CYCLONE POWER: Tonaquint Has 9.9% Stake as of Jan. 23
DANBURY SPORTS: Case Summary & 7 Largest Unsecured Creditors

DJM ENTERPRISES: Voluntary Chapter 11 Case Summary
DUPONT PERFORMANCE: Bank Debt Trades at 3% Off
EPAZZ INC: Magna Reports 9.9% Stake as of Jan. 20
ERF WIRELES: Issues 23.8 Million Common Shares
FIRST DATA: Matthew Cagwin Appointed Chief Accounting Officer

FIRST FINANCIAL: Completes Merger with Community Bank Shares
FIRST FINANCIAL: Suspending Filing of Reports with SEC
FIRST SECURITY: Horstmann Reports 5.5% Stake as of Jan. 21
FOUR OAKS: May Issue 1.9MM Restricted Shares Under Stock Plan
FOURTH QUARTER PROPERTIES: Case Summary & 14 Top Unsec. Creditors

FREEDOM INDUSTRIES: Ex Pres. Allegedly Sent $6.5MM to Insurance Co
GENERAL MOTORS: No Promise of New Product in Canada
GLOBAL COMPUTER: Taps Miles & Stockbridge as Special Counsel
GOLDEN STATE PETROLEUM: Moody's Withdraws Caa1 Rating
GREEN BRICK: Hires New Vice President of Finance

HERCULES OFFSHORE: Files Fleet Status Report as of Jan. 22
HIGHLAND COMMUNITY BANK: United Fidelity Bank Assumes All Deposits
HILAND PARTNERS: Moody's Puts 'B'1 CFR on Review for Upgrade
HILAND PARTNERS: S&P Puts 'B' CCR on CreditWatch Positive
HIPCRICKET INC: Meeting to Form Creditors' Panel Set for Jan. 30

HORIZON VILLAGE: Court Denies Well Fargo's Bid for Limited Stay
HOVNANIAN ENTERPRISES: BlackRock Holds 8.1% of Class A Shares
IMPLANT SCIENCES: Appoints William McGann as CEO
INFINITY AUGMENTED: Needs Additional Funds for Operations
INFINITY ENERGY: RBSM LLP Assumes Auditing Role

ISTAR FINANCIAL: Obtains Favorable Order in "U.S. Home" Suit
KEMPER CORP: Fitch Affirms 'BB' Ratings on Subordinated Notes
KERSHAWHEALTH: S&P Lowers Rating on $19.6MM Revenue Bonds to 'BB'
LIGHTSQUARED INC: Confirmation Hearing Set for March 29
MATAGORDA ISLAND: Jan. 27 Hearing on Bid for Case Conversion

MATT'S TEX MEX: Files for Chapter 11, Closes Two Locations
MEDIACOM COMMUNICATIONS: Moody's Hikes Corp. Family Rating to Ba3
MENDOCINO COAST: S&P Affirms 'CCC' Rating on Gen. Obligation Debt
MERCATOR MINERALS: Starcore Acquires Creston Moly from Trustee
MERRIMACK PHARMACEUTICALS: Chief Scientific Officer Resigns

METALICO INC: Adam Weitsman Reports 9.5% Equity Stake as of Jan. 16
METALICO INC: Weitsman Reports 9.95% Stake as of Jan. 21
MILLENIUM HEALTHCARE: Reports $3.85-Mil. Net Loss in Q3 of 2014
MOHEGAN TRIBAL: Bank Debt Trades at 3% Off
MULTIPLAN INC: Bank Debt Trades at 3% Off

NATURAL MOLECULAR: Chapter 11 Trustee Hires Equipment Broker
NETFLIX INC: Moody's Cuts CFR to B1 & Revises Outlook to Stable
NEXT 1 INTERACTIVE: Berdon & Co. Reports 9.9% Stake at Dec. 31
NNN PARKWAY: Balks at WBCMT's Bid to Surcharge Collateral
NPS PHARMACEUTICALS: Urges Stockholders to Accept Offer

PATHEON INC: Bank Debt Trades at 3% Off
PEABODY ENERGY: S&P Revises Outlook to Neg. & Affirms 'BB-' CCR
PETRON ENERGY: Carebourn Reports 8.6% Stake as of Jan. 20
PLANDAI BIOTECHNOLOGY: To Sell $25 Million Worth of Securities
PLATFORM SPECIALTY: S&P Retains 'BB' CCR Over Resized Notes

QUEST SOLUTION: RBSM LLP Replaces L.L. Bradford as Auditors
QUEST SOLUTION: Reports Appointment of Kurt Thomet as President
RADIO ONE: Finc'l Covenants Amendment No Impact on Moody's B3 CFR
RADIOSHACK CORP: Gets Another Delisting Warning From NYSE
RADIOSHACK CORP: Receives Noncompliance Notice from NYSE

RADIOSHACK CORP: Receives NYSE Continued Listing Standards Notice
RESPONSE BIOMEDICAL: OrbiMed Reports 44.9% Stake as of Dec. 31
REVEL AC: Jan. 26 Hearing on Request for Exclusivity Extension
SABINE OIL: Dod Fraser Quits From Board of Directors
SABLE NATURAL: Files Statement of Revenue for Acquired Properties

SCOTT SWIMMING: Case Summary & 20 Largest Unsecured Creditors
SEL USA: Files for Bankruptcy Protection in Tennessee
SEQUENOM INC: Director John Fazio Won't Seek for Re-election
SKYMALL LLC: Case Summary & 20 Largest Unsecured Creditors
SKYMALL LLC: Seeks Parties to Participate in Asset Auction

SOLAR POWER: Agrees to Issue 2.5 Million Shares to Central Able
SOLENIS INT'L: S&P Retains 'B' Rating Over $85MM Debt Add-On
SPEEDEMISSIONS INC: Signs Addendum to DEKRA Sale Agreement
SPEEDWAY MOTORSPORTS: Moody's Affirms Ba1 Corporate Family Rating
SPEEDWAY MOTORSPORTS: S&P Assigns 'BB+' Rating on $200MM Sr. Notes

SPIRE CORP: Chief Financial Officer Robert Lieberman Quits
SPIRE CORP: Royce & Associates Reports 9.3% Stake as of Dec. 31
ST. SIMONS LODGING: Voluntary Chapter 11 Case Summary
TASEKO MINES: S&P Lowers Corp. Credit Rating to 'B-'; Outlook Neg.
TOMAHAWK RESOURCES: Files for Chapter 11 Bankruptcy Protection

VERITEQ CORP: Iliad Research Reports 9.9% Stake as of Jan. 23
VERTICAL COMPUTER: Amends Report on Patent Disclosure
VIGGLE INC: Appoints SFX as Exclusive Sales Agent
VIGGLE INC: Obtains Additional $2-Mil. Loan from CEO
VISCOUNT SYSTEMS: Obtains C$234,000 from Private Placement

VOYAGEUR ACADEMY: S&P Lowers Rating to 'B-'; Outlook Stable
WAFERGEN BIO-SYSTEMS: James Besser Holds 8.5% Stake at Dec. 31
WEST BRANCH REGIONAL: S&P Alters Ratings Outlook to Stable
WET SEAL: Has Interim Approval of $18.3MM DIP Loan From BofA
WET SEAL: Has Interim Approval of $20MM DIP Loan From B. Riley

WET SEAL: Lender Wants Plan Approval by April 30, Exit by May 15
WET SEAL: Meeting to Form Creditors' Panel Set for Jan. 30
WET SEAL: Securities to Be Delisted From Nasdaq
WILLISTON STATE COLLEGE: S&P Lowers 2010 Bonds Rating to 'BB'
XTREME POWER: New Owner of Grove Plant to Hire 423 Workers

Z TRIM HOLDINGS: Edward Smith Has 77.5% Stake as of Jan. 8
[*] ABI Makes No Recommendations on Venue Statute
[*] Commercial Printers to Lead in No. of Bankruptcy Filings
[*] Covington, DLA Piper Attys Start Firms in Europe, Middle East
[*] Gregory Jones Joins Dykema's Los Angeles Office

[*] Meg Manning Joins Gavin/Solmonese's Bankruptcy Practice
[^] BOND PRICING: For The Week From January 19 to 23, 2015

                            *********

ACG CREDIT: Court Approves Majorie as Litigation Counsel
--------------------------------------------------------
ACG Credit Company II, LLC sought and obtained authorization from
the U.S. Bankruptcy Court for the District of Delaware to employ
Francis B. Majorie and The Majorie Firm Ltd as special litigation
counsel to the Debtor and the estate.

Majorie's limited purpose is to defend against and assert
counterclaims with respect to the claims asserted by the plaintiff
in the SageCrest Litigation and any related appeals or
proceedings.

Windmill Management, LLC, and Alan Milton (SageCrest's principal),
and ACG Credit Company, LLC, Art Capital Group, LLC, ACG Finance
Company, LLC, and Ian Peck -- jointly and severally, the "Other
Counterparties" -- retained Majorie to represent them in the
SageCrest Litigation on a modified contingent fee basis.  Majorie
agrees to look solely to the Other Counterparties for compensation
and payment of costs, so there will not be any out of pocket cost
to the Estate.  This is an extremely considerable savings to the
Estate, which would be forced to incur well over $100,000 of fees
and costs if separate counsel were retained.

Majorie can be reached at:

       Francis B. Majorie, Esq.
       THE MAJORIE FIRM LTD.
       3514 Cedar Springs Road
       Dallas, TX 75225
       Tel: (214) 522-7400

                    About ACG Credit Company II

New York-based ACG Credit Company II, LLC, filed a Chapter 11
bankruptcy petition (Bankr. D. Del. Case No. 14-11500) on June 17,
2014.  The Debtor estimated $10 million to $50 million in assets
and $1 million to $10 million in liabilities.  Ian Peck signed the
petition as director.  Gellert Scali Busenkell & Brown, LLC, serves
as the Debtor's counsel.


AFFIRMATIVE INSURANCE: Jon Old Has 17.8% Stake as of Dec. 31
------------------------------------------------------------
Jonathan W. Old, III, and his affiliates disclosed that as of
Dec. 31, 2014, they beneficially owned 2,875,600 shares of common
stock of Affirmative Insurance Holdings, Inc., representing 17.8
percent of the shares outstanding.  A copy of the regulatory filing
is available at http://is.gd/BsloYx

                   About Affirmative Insurance

Addison, Tex.-based Affirmative Insurance Holdings, Inc., is a
distributor and producer of non-standard personal automobile
insurance policies for individual consumers in targeted geographic
markets.  Non-standard personal automobile insurance policies
provide coverage to drivers who find it difficult to obtain
insurance from standard automobile insurance companies due to
their lack of prior insurance, age, driving record, limited
financial resources or other factors.  Non-standard personal
automobile insurance policies generally require higher premiums
than standard automobile insurance policies for comparable
coverage.

Affirmative Insurance reported net income of $30.71 million on
$246 million of total revenues for the year ended Dec. 31,
2013, as compared with a net loss of $51.9 million on $209.8
million of total revenues in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $365
million in total assets, $492 million in total liabilities and
a $127 million total stockholders' deficit.

KPMG LLP, in Dallas, Texas, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2013.  The independent auditors noted that the Company's
recent history of recurring losses from operations and its
probable failure to comply with certain financial covenants in the
senior secured and subordinated credit facilities in 2014 raise
substantial doubt about its ability to continue as a going
concern.


ALEXZA PHARMACEUTICALS: EVP Research and Development Quits
----------------------------------------------------------
James V. Cassella's employment with Alexza Pharmaceuticals, Inc.,
will terminate effective as of Jan. 30, 2015, according to a
regulatory filing with the U.S. Securities and Exchange Commission.
Dr. Cassella is currently the Company's executive vice president,
research and development, and chief scientific officer.  

Dr. Cassella's resignation was not the result of any disagreement
with the Company on any matter relating to its operations, policies
or practices, or regarding the general direction of the Company.

                           About Alexza

Mountain View, California-based Alexza Pharmaceuticals, Inc., was
incorporated in the state of Delaware on Dec. 19, 2000, as FaxMed,
Inc.  In June 2001, the Company changed its name to Alexza
Corporation and in December 2001 became Alexza Molecular Delivery
Corporation.  In July 2005, the Company changed its name to Alexza
Pharmaceuticals, Inc.

The Company is a pharmaceutical development company focused on the
research, development, and commercialization of novel proprietary
products for the acute treatment of central nervous system
conditions.

Alexza Pharmaceuticals reported a net loss of $39.6 million in
2013, a net loss of $28.0 million in 2012 and a net loss of
$40.5 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $65.8
million in total assets, $115 million in total liabilities and
total stockholders' deficit of $48.8 million.


AMERICAN EAGLE: Moody's Lowers Corporate Family Rating to 'Ca'
--------------------------------------------------------------
Moody's Investors Service downgraded American Eagle Energy
Corporation's (American Eagle Energy or AMZG) Corporate Family
Rating (CFR) to Ca from Caa1, its Probability of Default Rating to
Ca-PD from Caa1-PD, and its $175 million second lien secured notes
rating to Ca from Caa1. Moody's also lowered AMZG's Speculative
Grade Liquidity Rating to SGL-4 from SGL-3. The rating outlook is
stable.

"The downgrade of American Eagle Energy's ratings reflect the
company's weak liquidity profile and unsustainable capital
structure," commented Gretchen French, Moody's Vice President.
"With the company facing cyclically low oil prices in 2015 and into
2016, the risk of default or a debt restructuring, including the
potential for a distressed exchange, has increased."

American Eagle Energy Corporation: Rating Actions

  Corporate Family Rating, Downgraded to Ca from Caa1

  Probability of Default Rating, Downgraded to Ca-PD from Caa1-PD

  $175 Million Secured Notes due in 2019, Downgraded to Ca (LGD 3)

  from Caa1 (LGD 4)

  Speculative Grade Liquidity Rating, Lowered to SGL-4 from SGL-3

Ratings Rationale
  
American Eagle Energy's Ca CFR reflects its weak liquidity profile,
unsustainable capital structure in the current low oil price
environment, and its small size and scope of operations, with very
modest production levels that are in decline due to suspended
drilling operations. The company's proved developed reserves are
all concentrated in the highly seasonal northwest Divide County,
North Dakota, and production will begin to sequentially decline
starting in the first quarter of 2015. The company is undertaking
several efforts to shore up its liquidity profile, including
reducing capital spending and potential asset sales; however, the
timing and ultimate proceeds of the potential assets sales is
uncertain.

AMZG's SGL-4 Speculative Grade Liquidity Rating reflects a weak
liquidity profile through 2016. Constraints on the company's
liquidity include the company's inability to cover interest expense
with internally generated cash flow in a low oil price environment
($52 WTI in 2015 and $62 WTI in 2016, with a $10 fixed discount to
WTI on AMZG's production), the need to fund material accounts
payable balances in 2015, and the lack of access to its revolving
credit facility, given that its borrowing base on its revolving
credit facility has been reduced to zero. The company is focused on
shoring up cash balances, including suspending its drilling
operations, the monetization of all of its crude oil hedge
positions for $13 million, and considering potential non-core asset
sales.

The Ca rating on AMZG's $175 million of second priority senior
secured notes reflects both the overall Ca-PD probability of
default of the company and a Loss Given Default of LGD 3. The notes
have a first lien carve out for a first lien revolving credit
facility of the greater of $60 million or 20% of adjusted
consolidated net tangible assets; however, AMZG's revolver
currently has a borrowing base of zero. In the event of default,
Moody's have assumed a recovery rating in the 40%-50% range based
on a low oil price environment and distressed sale.

The rating outlook is stable, and assumes a recovery rate in the
event of default or a distressed exchange of between 40%-50%.
Moody's could downgrade the ratings if it appears that in the event
of default or a distressed exchange, recovery on the bonds appears
to be less than 30%. Moody's could upgrade the ratings if the
company improves its liquidity profile and reduces its debt levels
in order to support EBITDA coverage of interest of at least 1.0x
through a cyclical low oil price environment.

The principal methodology used in this rating was the Global
Independent Exploration and Production Industry published in
December 2011. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

American Eagle Energy Corporation is an independent oil and gas
exploration and production company headquartered in Littleton, CO.



AMERICAN NANO: Paritz & Company Raises Going Concern Doubt
----------------------------------------------------------
American Nano Silicon Technologies, Inc., filed with the U.S.
Securities and Exchange Commission on Jan. 7, 2015, its annual
report on Form 10-K for the fiscal year ended Sept. 30, 2014.

Paritz & Company, P.A., expressed substantial doubt about the
Company's ability to continue as a going concern, citing the
Company's current liabilities exceed its current assets by
$14.8 million at Sept. 30, 2014.  The current cash and inventory
level will not be sufficient to support the Company's resumption
of its normal operations and repayments of its loans.  In addition,
the Company has suffered negative cash flows for past
two years.

The Company reported a net loss of $6.37 million on $1.76 million
of revenues for the fiscal year ended Sept. 30, 2014, compared
with a net loss of $7.17 million on $798,000 of revenue in fiscal
2013.

The Company's balance sheet at Sept. 30, 2014, showed
$22.9 million in total assets, $21.02 million in total liabilities,
and stockholders' equity of $1.93 million.

A copy of the Form 10-K is available at:

                        http://is.gd/1pl8bU

With headquarters in Nanchong, Sichuan province, in China, American
Nano Silicon Technologies (ANNO: OTC US) makes and distributes
micro-nano silicon that is used in consumer and industrial
products, including petrochemical, plastics, laundry detergent,
rubber, paper and ceramics.  The Company operates through its
subsidiary Nanchong Chunfei Nano Silicon Technologies Co., Ltd.



AMERICAN POWER: Van Steenwyk Reports 5.3% Stake as of Jan. 5
------------------------------------------------------------
Matthew Van Steenwyk disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Jan. 5, 2015, he
beneficially owned 2,704,260 shares of common stock of
American Power Group Corporation representing 5.3 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/inzcQ6

                     About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural Gas conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100 percent diesel fuel operation at any time.  The
proprietary technology seamlessly displaces up to 80% of the
normal diesel fuel consumption with the average displacement
ranging from 40 percent to 65 percent.  The energized fuel balance
is maintained with a proprietary read-only electronic controller
system ensuring the engines operate at original equipment
manufacturers' specified temperatures and pressures.  Installation
on a wide variety of engine models and end-market applications
require no engine modifications unlike the more expensive invasive
fuel-injected systems in the market.  Additional information at
http://www.americanpowergroupinc.com/  

American Power reported a net loss available to common
stockholders of $3.25 million on $6.28 million of net sales for
the year ended Sept. 30, 2014, compared to a net loss available to
common stockholders of $2.92 million on $7.01 million of net sales
for the year ended Sept. 30, 2013.

As of Sept. 30, 2014, the Company had $8.52 million in total
assets, $5.49 million in total liabilities and $3.02 million in
total stockholders' equity.


AMERICAN REALTY: S&P Retains 'BB' CCR on CreditWatch Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on American
Realty Capital Properties Inc., including the 'BB' corporate credit
rating and the 'BB+' issue-level ratings remain on CreditWatch with
negative implications, pending the completion of board
investigations and the external auditor review of the company's
financial statements.

The update follows the recent announcement that the company's
senior noteholder group agreed to not issue a notice of default
before March 3, 2015, or one day after the March 2nd deadline
agreed between the company and its bank lending group for
submitting third quarter financial statements (as well as revised
first- and second-quarter 2014 statements).  In the event ARCP does
not meet the March 2nd deadline and bondholders issue a notice of
default on March 3rd, ARCP would have until March 20th to cure the
default under the recent senior noteholder agreement. ARCP also
purportedly received a notice of default from the trustee under the
indenture governing it convertible notes.  If the notice is valid,
ARCP would have 60 days to cure the default by delivering the
required financial statements.  However, ARCP may elect on or prior
to the 59th day to pay additional interest for a period of 180 days
(0.25% per annum for 90 days and 0.5% for an additional 90 days),
which would prevent the convertible noteholders from accelerating
repayment of the convertible notes. ARCP expects to meet the March
2nd deadline, which would eliminate the risk of any defaults.

S&P continues to believe there is uncertainty regarding the
company's ability to both manage and oversee the large portfolio
that it has only recently assembled and the impact of the recent
events on ARCP's access to and cost of equity and debt capital.

Standard & Poor's will seek to resolve the CreditWatch placement
within the next 90 days, but this will depend upon a better
understanding of possible outcomes from the various audits and
investigations.  S&P will review any potential disclosures upon the
release of the board's investigation, any additional exposures from
the completion of the forensic audit, and other management or
governance changes that are being contemplated.  Upon completion of
S&P's review, it could lower the corporate credit rating or leave
the ratings unchanged.



AMPLIPHI BIOSCIENCES: Ernst & Young Hired as New Auditors
---------------------------------------------------------
AmpliPhi Biosciences Corporation dismissed PBMares, LLP, as its
independent registered public accounting firm on Jan. 20, 2015,
according to a regulatory filing with the U.S. Securities and
Exchange Commission.  The decision to change auditors was approved
by the Audit Committee of the Board.

The reports of PBMares on the Company's financial statements for
each of the last two fiscal years contained an uncertainty
modification that there was substantial doubt about the Company's
ability to continue as a going concern.  

The Company said that during its two most recent fiscal years, and
in the interim period ending on the date of the Company's dismissal
of PBMares, the Company has not had any disagreements with PBMares
on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure.

The Company has requested that PBMares furnish the Company with a
letter addressed to the SEC stating whether it agrees with the
above statements.

The Company has engaged Ernst & Young LLP as its new independent
accountant as of Jan. 20, 2015.  During the Company's two most
recent fiscal years, and in the interim period ending on the date
of the Company's engagement of E&Y, the Company did not consult
with E&Y regarding any of the matters described in Item
304(a)(2)(i) and (ii) of Regulation S-K.  The Audit Committee and
the Board have approved this engagement.

                          About AmpliPhi

AmpliPhi Biosciences Corp. is a biopharmaceutical company that
develops bacteriophage-based therapeutics.  It also develops an
internally generated pipeline of naturally occurring viruses
called bacteriophage (Phage) for the treatment of bacterial
infection, such as drug-resistant strains of bacteria that are
commonly found in the hospital setting.  The company's Phage
discovery also focuses on acute & chronic lung, sinus and
gastrointestinal infections.  AmpliPhi Biosciences was founded in
March 1989 and is headquartered in Glen Allen, Virginia.

The Company reported a net loss of $57.6 million on $325,000 of
total revenue for the year ended Dec. 31, 2013, compared with a
net loss of $1.11 million on $664,000 of total revenue in 2012.

PBMares, LLP, in Richmond, Virginia, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has had recurring losses from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

As of Sept. 30, 2014, the Company had $28.4 million in total
assets, $17.08 million in total liabilities and $11.3 million in
total stockholders' equity.


AMSS LLC: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------
Debtor: AMSS, LLC
        210 S. Orange Grove Blvd.
        Pasadena, CA 91105

Case No.: 15-10968

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 22, 2015

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Debtor's Counsel: John P Schock, Esq.
                  SCHOCK AND SCHOCK
                  210 S Orange Grove Blvd Ste 200
                  Pasadena, CA 91105
                  Tel: 626-298-6446
                  Fax: 626-298-6447
                  Email: schockandschock@yahoo.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alicia Barclay, manager.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb15-10968.pdf


AP-LONG BEACH: Amends List of Top Unsecured Creditors
-----------------------------------------------------
AP-Long Beach Airport LLC amended its list of creditors holding the
largest unsecured claims to, among other things, add Environ
Architecture, Inc.'s claim, and remove Stapleton Group from the
list.

The Debtor said that at the time of the filing of its Chapter 11
petition, it  was uncertain of payments made by the receiver
towards prepetition payables.  Since the filing of the Petition,
the Debtor has received a full accounting from the receiver.

The amended list contains these claims:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Environ Architecture, Inc.           Vendor            $25,918

Southern California Edison           Vendor             $9,919

Murchison Consulting                 Vendor             $4,000

Granite Telecommunications LLC       Vendor               $565

Meier Plumbing, Inc.                 Vendor               $453

DC Environmental                     Vendor               $322

Universal Building                   Vendor               $252

ABM Electrical Solutions, Inc.       Vendor               $239

Coastal Maintenance Inc.             Vendor               $191

Total Access Security Systems        Vendor               $168

                        About AP-Long Beach

AP-Long Beach Airport LLC, which operates a 206,945-square foot
building at Long Beach Airport, sought protection under Chapter 11
of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 14-33372) on
Dec. 19, 2014.  The case is assigned to Judge Vincent P. Zurzolo.

The Debtor's counsel is Alan J Friedman, Esq., and Kerri A Lyman,
Esq., at Irell & Manella LLP.


APOLLO MEDICAL: Signs Consulting Agreement with Flacane
-------------------------------------------------------
Apollo Medical Holdings, Inc., entered into a consulting and
representation agreement with Flacane Advisors, Inc., which is
effective on Jan. 15, 2015, and remains in effect until March 31,
2015, and will carryover to Dec. 31, 2015, unless it is replaced by
a new agreement.  Under the Consulting Agreement, the Consultant is
paid $25,000 per month and is also eligible to receive options to
purchase shares of the Company's common stock as determined by the
Board.  The Consultant provides business and strategic services and
makes Gary Augusta available as the Company's Executive Chairman of
the Board.  Mr. Augusta is an existing director of the Company and
subject to a Board of Directors Agreement with the Company dated
March 7, 2012.

Mark A. Meyers confirmed on Nov. 1, 2014, that he had resigned as
the Company's chief strategy officer and was no longer a named
executive officer of the Company.  In addition, Mr. Meyers
confirmed on Nov. 1, 2014, that the Consulting Agreement between
him and the Company, dated as of Oct. 8, 2012, had been terminated.
Mr. Meyers remains a member of the Company's Board.

Apollo Medical restated its Certificate of Incorporation (with
approval from the Company's Board of Directors) in accordance with
Section 245 of the Delaware General Corporation Law effective
Jan. 16, 2015, a copy of which is available for free at:

                        http://is.gd/vqW9PN

Effective on Jan. 16, 2015, the Company restated its By-Laws (with
approval from the Company's Board of Directors) a copy of which is
available for free at http://is.gd/RB2B1H

                       About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss of $4.55 million for the year
ended Jan. 31, 2014, following a net loss of $8.90 million for the
year ended Jan. 31, 2013.

As of Sept. 30, 2014, the Company had $16.05 million in total
assets, $16.6 million in total liabilities, and a $504,000
stockholders' deficit.


ARRAY BIOPHARMA: BlackRock Has 8.6% Stake as of Dec. 31
-------------------------------------------------------
BlackRock, Inc., disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Dec. 31, 2014, it
beneficially owned 11,409,558 shares of common stock of Array
Biopharma Inc. representing 8.6 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                       http://is.gd/75MEzV

                      About Array Biopharma

Boulder, Colo.-based Array BioPharma Inc. is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  Array
has four core proprietary clinical programs: ARRY-614 for
myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797
for pain and ARRY-502 for asthma.  In addition, Array has 10
partner-funded clinical programs including two MEK inhibitors in
Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis.

The Company's balance sheet at Sept. 30, 2014, showed $135 million
in total assets, $173 million in total liabilities, and a
stockholders' deficit of $37.6 million.

"If we are unable to generate enough revenue from our existing or
new collaboration and license agreements when needed or to secure
additional sources of funding, it may be necessary to
significantly reduce the current rate of spending through further
reductions in staff and delaying, scaling back, or stopping
certain research and development programs, including more costly
Phase 2 and Phase 3 clinical trials on our wholly-owned or co-
development programs as these programs progress into later stage
development.  Insufficient liquidity may also require us to
relinquish greater rights to product candidates at an earlier
stage of development or on less favorable terms to us and our
stockholders than we would otherwise choose in order to obtain up-
front license fees needed to fund operations.  These events could
prevent us from successfully executing our operating plan and, in
the future, could raise substantial doubt about our ability to
continue as a going concern," according to the quarterly report
for the period ended Sept. 30, 2014.


ARRAY BIOPHARMA: Has Agreement to Acquire Encorafenib
-----------------------------------------------------
Array BioPharma Inc. has reached a definitive agreement with
Novartis Pharma AG to acquire worldwide rights to encorafenib
(LGX818), a BRAF inhibitor currently in Phase 3 development.  This
agreement is conditional on the closing of transactions announced
by Novartis and GlaxoSmithKline PLC (GSK) on April 22, 2014, which
are expected to close in the first half of 2015, and the agreement
remains subject to the receipt of regulatory approvals.  Array
previously disclosed a definitive agreement with Novartis to regain
global rights to the Phase 3 MEK inhibitor binimetinib, the
material terms of which remain in place following this agreement.
In order to address competition concerns raised by the European
Commission, Array has agreed to obtain an experienced partner for
global development and European commercialization of both
binimetinib and encorafenib.  The European Commission is expected
to issue a decision regarding the Novartis-GSK transaction on
Jan. 28, 2015.

"Acquiring worldwide rights to encorafenib, an innovative
late-stage oncology product, represents a tremendous opportunity
for Array," said Ron Squarer, chief executive officer, Array
BioPharma.  "There are currently eleven active encorafenib clinical
trials, including the Phase 3 COLUMBUS trial in which encorafenib
is being studied in combination with binimetinib for BRAF+ melanoma
patients.  With rights to both encorafenib and binimetinib, Array
would enhance its position to broadly develop and commercialize
each product, as well as this MEK/BRAF combination, which may have
differentiating advantages when compared to available therapies."

Terms of the Agreement

Upon satisfaction of all conditions and closing of the deal, Array
will acquire global rights to encorafenib.  Other than a de minimis
payment due to Novartis from Array, there are no milestone payments
or royalties payable under this agreement by either party.
Novartis has agreed to provide transitional regulatory, clinical
development and manufacturing services and will assign or license
to Array all patent and other intellectual property rights Novartis
owns to the extent relating to encorafenib.  As part of the
transaction, Array has agreed to obtain an experienced partner for
global development and European commercialization of both
binimetinib and encorafenib.  If Array is unable to find a suitable
partner in the prescribed time period, a trustee would have the
right to sell such European rights.

Novartis will conduct and fund the COLUMBUS trial through the
earlier of June 30, 2016, or completion of last patient first
visit.  At that time, Array will assume responsibility for the
trial, while Novartis will reimburse Array for out-of-pocket costs
along with 50% of Array's full time equivalent (FTE) costs in
connection with completing the COLUMBUS trial.  Novartis is
responsible for conducting all other encorafenib trials until their
completion or transfer to Array for a defined transition period.
For all trials transferred to Array, Novartis will reimburse Array
for out-of-pocket costs and 50% of Array's FTE costs in connection
with completing the trials.

Novartis will supply encorafenib for clinical and commercial use
for up to 30 months after closing and will also assist Array in the
technology and manufacturing transfer of encorafenib.  Novartis
will also provide Array continued access to several Novartis
pipeline compounds for use in currently ongoing combination
studies, and possible future studies, including Phase 3 trials,
with encorafenib.  The effectiveness of the agreement is subject to
the receipt of regulatory approvals and to the consummation of the
Novartis-GSK transaction.

In addition, Array agreed to undertake to obtain certain third
party consents or waivers necessary for Array to consummate the
transactions under the Novartis Agreement.

                       About Array Biopharma

Boulder, Colo.-based Array BioPharma Inc. is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  Array
has four core proprietary clinical programs: ARRY-614 for
myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797
for pain and ARRY-502 for asthma.  In addition, Array has 10
partner-funded clinical programs including two MEK inhibitors in
Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis.

The Company's balance sheet at Sept. 30, 2014, showed $135 million
in total assets, $173 million in total liabilities, and a
stockholders' deficit of $37.6 million.

Array Biopharma incurred a net loss of $85.3 million for the year
ended June 30, 2014, a net loss of $61.9 million for the year ended
June 30, 2013, and a net loss of $23.6 million for the year ended
June 30, 2012.

"If we are unable to generate enough revenue from our existing or
new collaboration and license agreements when needed or to secure
additional sources of funding, it may be necessary to
significantly reduce the current rate of spending through further
reductions in staff and delaying, scaling back, or stopping
certain research and development programs, including more costly
Phase 2 and Phase 3 clinical trials on our wholly-owned or co-
development programs as these programs progress into later stage
development.  Insufficient liquidity may also require us to
relinquish greater rights to product candidates at an earlier
stage of development or on less favorable terms to us and our
stockholders than we would otherwise choose in order to obtain up-
front license fees needed to fund operations.  These events could
prevent us from successfully executing our operating plan and, in
the future, could raise substantial doubt about our ability to
continue as a going concern," according to the quarterly report
for the period ended Sept. 30, 2014.


ASPEN GROUP: Leon Cooperman Reports 7% Stake as of Dec. 31
----------------------------------------------------------
Leon G. Cooperman disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Dec. 31, 2014, he
beneficially owned 8,000,000 shares of common stock of Aspen Group,
Inc., representing 7.11 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                         http://is.gd/ADfHk6

                           About Aspen Group

Denver, Colo.-based Aspen Group, Inc., was founded in Colorado in
1987 as the International School of Information Management.  On
Sept. 30, 2004, it was acquired by Higher Education Management
Group, Inc., and changed its name to Aspen University Inc.  On
May 13, 2011, the Company formed in Colorado a subsidiary, Aspen
University Marketing, LLC, which is currently inactive.  On
March 13, 2012, the Company was recapitalized in a reverse merger.

Aspen's mission is to become an institution of choice for adult
learners by offering cost-effective, comprehensive, and relevant
online education.  Approximately 88 percent of the Company's
degree-seeking students (as of June 30, 2012) were enrolled in
graduate degree programs (Master or Doctorate degree program).
Since 1993, the Company has been nationally accredited by the
Distance Education and Training Council, a national accrediting
agency recognized by the U.S. Department of Education.

Aspen Group incurred a net loss of $5.35 million for the year
ended April 30, 2014.  The Company also reported a net loss of
$1.40 million for the four months ended April 30, 2013.  The
Company reported a net loss of $6 million in 2012 as compared
with a net loss of $2.13 million in 2011.

As of Oct. 31, 2014, the Company had $5.36 million in total
assets, $3.49 million in total liabilities and $1.87 million in
total stockholders' equity.


ATHERTON FINANCIAL: Addresses Objections to Dismissal Bid
---------------------------------------------------------
Atherton Financial Building LLC responded to the limited objections
lodged against its motion for an order (1) authorizing the
disbursement of funds to creditors; and (2) dismissing its Chapter
11 case.

A limited objection was filed by Lucy Gao and comments were
submitted by the U.S. Trustee.

David B. Golubchik, Esq., at Levene, Neale, Bender, Yoo & Brill,
L.L.P., counsel to the Debtor, relates that pursuant to the
Dismissal Motion, the Debtor seeks Court authority to disburse
funds to pay all claims of the estate in full, including US Trustee
fees, and thereafter urges the Court to dismiss the case.  For its
part, the U.S. Trustee filed comments with respect to outstanding
quarter fees and the Debtor consents to payment of those fees.

Ms. Gao filed her limited opposition consenting to 100% of the
relief requested in the Dismissal Motion -- she simply asked that
if the Debtor's estate seeks to distribute funds to equity, that
disbursement should not occur at this time.  In response, the
Debtor asserts that it does not seek Court authority to distribute
funds to equity.  If the Dismissal Motion is granted, the Debtor
anticipates distributing funds to creditors while allowing it to
address its alleged equity dispute in a different forum.  The
Debtor clarifies that the Motion does not seek to make any
distributions to equity holders.

On a related note, the Debtor, including its counsel, wishes to
address the Limited Opposition asserting that Ms. Gao is the 100%
equity holder of the Debtor, which appears to be inconsistent with
the record.  The Debtor points to the retention agreement to retain
bankruptcy counsel, which was executed by Benjamin Kirk, the
designated agent of the Debtor, and Ms. Gao.  The retention
agreement refers to Mr. Kirk as the Sole Member and Manager of
Sunshine Valley, LLC, which Ms. Gao countersigned.  After
commencement of the case, the Debtor filed its Schedule of Equity
Holders, which was not disputed by Ms. Gao.  Although the Court
scheduled Dec. 16, 2014 as the deadline to file proofs of claim, no
proof of claim or proof of interest was filed asserting an equity
structure different from that set forth in the Schedule.  Based on
the foregoing, it appears that equity was properly disclosed and,
more importantly, not contested by anyone, the Debtor tells the
Court.

                        Dismissal Motion

The Debtor filed its Dismissal Motion after the sale of its
property for $14.3 million closed on Dec. 8, 2014, and all secured
claims and tax claims have been satisfied.  Pursuant to the Court's
order, the Debtor's counsel is holding over $3.5 million in its
client trust account pending further order of the Court.  After
payment of claims from escrow, the Debtor's remaining claims total
$246,923.  This takes into account: (1) the consensually
agreed-upon amount for Hue & Cry's unsecured claim of $2,430, and
(2) the outstanding balance of $0 currently owed to Travelers
Casualty Insurance Company of America.  The foregoing excludes the
Debtor's counsel's attorneys' fees and costs, which for purposes of
full disclosure, are estimated to be $25,000 over the $75,000
retainer received.  

                     About Atherton Financial

Atherton Financial Building LLC owned a commercial building located
at 1906 El Camino Real, Menlo Park, CA 94027.

Atherton Financial filed a Chapter 11 petition (Bankr. C.D. Cal.
Case No. 14-27223) in Los Angeles, on Sept. 9, 2014.  Benjamin
Kirk
signed the petition as managing member of manager of Sunshine
Valley LLC.  The case is assigned to Judge Thomas B. Donovan.  The
Debtor tapped David B Golubchik, Esq., at Levene Neale Bender
Rankin & Brill LLP, in Los Angeles, as counsel.

The Company estimated $10 million to $50 million in assets and
debt.


AUXILIUM PHARMACEUTICALS: Transfers IP Rights to XIAFLEX
--------------------------------------------------------
Auxilium Pharmaceuticals, Inc., and its subsidiaries, on Jan. 20,
2014, entered into a contribution and assumption agreement,
pursuant to which the Company, Auxilium US Holdings, LLC, and
Auxilium International Holdings, Inc., transferred all of their
respective rights with respect to the intellectual property related
to XIAFLEX to Auxilium Bermuda in exchange for preferred shares of
Auxilium Bermuda.  Also on Jan. 20, 2015, the Company and
International Holdings entered into an Intercompany Services
Agreement pursuant to which the Company will provide research and
development and marketing services to International Holdings
related to XIAFLEX in exchange for an annual fee.

Also on Jan. 20, 2015:

    (i) Auxilium Bermuda entered into that certain Assumption
        Agreement pursuant to which Auxilium Bermuda joined,
        acceded and entered into that certain Guarantee and
        Collateral Agreement, dated as of April 26, 2013, made by
        the Company, Opal Acquisition Corp, LLC, a wholly owned
        subsidiary of the Company and the other Grantors named
        therein in favor of Morgan Stanley Senior Funding Inc., as
        the Collateral Agent, and MSSF, as the Administrative
        Agent, in each case, for the Secured Parties; and

   (ii) the Company, US Holdings and International Holdings
        entered into that certain Pledge Supplement pursuant to
        the Guarantee and Collateral Agreement, pursuant to which
        the Company, US Holdings and International Holdings
        granted to the Collateral Agent, for the benefit of the
        Secured Parties under the Guarantee and Collateral
        Agreement, a security interest in all of their respective
        right, title and interest in and to all Collateral, to
        secure the Company's obligations under that certain Credit
        Agreement, dated April 26, 2013, and as amended on June 7,

        2013, by and among the Company, the lenders from time to
        time party thereto, MSSF, as the Collateral Agent,
        Administrative Agent and Syndication Agent, and MSSF, as
        Lead Arranger and Sole Bookrunner.

Endo International plc consented to the Contribution Agreement, the
Assumption Agreement, the Pledge Supplement, and related matters in
accordance with the terms of the Amended and Restated Agreement and
Plan of Merger, dated Nov. 17, 2014, by and among the Company,
Endo, Endo U.S. Inc., and Avalon Merger Sub Inc.

                          About Auxilium

Auxilium Pharmaceuticals, Inc. -- http://www.Auxilium.com/-- is a
fully integrated specialty biopharmaceutical company with a focus
on developing and commercializing innovative products for
specialist audiences.  With a broad range of first- and second-
line products across multiple indications, Auxilium is an emerging
leader in the men's healthcare area and has strategically expanded
its product portfolio and pipeline in orthopedics, dermatology and
other therapeutic areas.

Auxilium now has a broad portfolio of 12 approved products.  Among
other products in the U.S., Auxilium markets edex(R) (alprostadil
for injection), an injectable treatment for erectile dysfunction,
Osbon ErecAid(R), the leading device for aiding erectile
dysfunction, STENDRATM (avanafil), an oral erectile dysfunction
therapy, Testim(R) (testosterone gel) for the topical treatment of
hypogonadism, TESTOPEL(R) (testosterone pellets) a long-acting
implantable testosterone replacement therapy, XIAFLEX(R)
(collagenase clostridium histolyticum or CCH) for the treatment of
Peyronie's disease and XIAFLEX for the treatment of Dupuytren's
contracture.

The Company also has programs in Phase 2 clinical development for
the treatment of Frozen Shoulder syndrome and cellulite.

The Company's balance sheet at Sept. 30, 2014, showed $1.14
billion in total assets, $983 million in total liabilities and
total stockholders' equity of $162 million.

                           *     *     *

As reported by the TCR on May 7, 2014, Moody's Investors Service
downgraded the ratings of Auxilium  including the Corporate Family
Rating to 'B3' from 'B2'.  "The downgrade reflects Moody's
expectations that declines in Testim, Auxilium's testosterone gel,
will materially reduce EBITDA in 2014, resulting in negative free
cash flow, a weakening liquidity profile, and extremely high
debt/EBITDA," said Moody's Senior Vice President Michael Levesque.

The TCR reported on Sept. 23, 2014, that Standard & Poor's Ratings
Services raised its corporate credit rating on Auxilium to 'CCC+'
following the announced restructuring program and a $50 million
add-on to its existing first-lien term loan.


BEER JOINT: Files for Chapter 7 Liquidation
-------------------------------------------
Rebecca Cooper at Washington Business Journal reports that The Beer
Joint Brewing Leesburg, LLC, filed on Jan. 13, 2015, a Chapter 7
bankruptcy petition in the U.S. Bankruptcy Court for the Eastern
District of Virginia, listing $100,000 to $500,000 in debts versus
less than $50,000 in assets.

According to Business Journal, the debtors listed in the filing
include utilities Dominion Virginia Power and Washington Gas and
the Virginia Department of Taxation.  Business Journal relates that
the Company appears to owe federal and state payroll taxes and
Leesburg meals taxes.

Business Journal states that Joseph Langone, Esq., serves as the
Company's bankruptcy counsel.

Headquartered in Leesburg, Virginia, The Beer Joint Brewing
Leesburg, LLC, is a restaurant owned by Anthony Cavallo.  It was
rebranded as The Beer Joint in September after eight years as
Vintage 50.


BLACK ELK: S&P Withdraws 'CCC-' CCR at Company's Request
--------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its ratings on
Black Elk Energy Offshore Services LLC, including the 'CCC-'
corporate credit rating and 'CCC' senior secured issue rating, at
the company's request.

S&P recently lowered its ratings on Black Elk following a sector
review of rated oil and gas exploration and production (E&P)
companies that stemmed from a reduction in our oil and gas price
assumptions.  S&P is now withdrawing its ratings on the company at
the company's request.



BLUE JACKET: Will Remain Open, To Add Lunch Menu
------------------------------------------------
Alison Bauter at Milwaukee Business Journal reports that Blue
Jacket Bar & Restaurant owners Laura and Tom van Heijningen have
assured that the restaurant will remain open and that for the first
time it will add a lunch menu.

The filing represents the best route to restructure the original
debt from opening the restaurant, Business Journal relates, citing
Ms. van Heijningen.  The report quoted her as saying, "This is a
very good thing for Blue Jacket.  The business is doing good --
we're growing."

Business Journal recalls that after the van Heijningens purchased
the 150-year-old building at 135 E. National Avenue in 2012, they
found out it needed a complete overhaul, making the project more
expensive, prolonged and "convoluted" than anticipated.

                        About Blue Jacket

Blue Jacket Bar & Restaurant -- http://bluejacketbar.com/-- is a  
43-seat restaurant three blocks from Lake Michigan in Milwaukee,
Wisconsin's foodie hub, Walker's Point.  Tom van Heijningen nd his
wife, Laura, opened the restaurant in June 2013.

As reported by the Troubled Company Reporter on Jan. 16, 2015,
Carol Deptolla at Journal Sentinel reports that Blue Jacket Bar
filed with the U.S. Bankruptcy Court for the Eastern District of
Wisconsin for Chapter 11 bankruptcy protection.  According to a
financial statement filed with the case, the Company as of Sept.
30, 2014, had current assets totaling $20,491, most of it in food
and beverage inventory, and current liabilities totaling $141,885.


BOREAL WATER: Shareholders Re-elect Francine Lavoie as Director
---------------------------------------------------------------
The shareholders of Boreal Water Collection, Inc., nominated and
re-elected Mrs. Francine Lavoie as the sole member of the Company's
Board of Directors, according to a regulatory filing with the U.S.
Securities and Exchange Commission.

On Jan. 22, 2015, Mrs. Lavoie, as sole member of the Board,
re-appointed herself as president, CEO, CFO and treasurer and
conferred other titles for the purpose of her signature on EDGAR
reporting documentation.  Mrs. Lavoie also appointed her spouse,
Mr. Krzysztof Umecki, as vice president - operations.  These
appointments were accomplished by Consent without a meeting.

On Jan. 20, 2015, the shareholders approved an increase in the
authorized common shares of the Company from 600 million to 1.5
billion.  This was accomplished through a Consent without a
meeting.  On Jan. 21, 2015, the Nevada Secretary of State accepted
and filed the Company's Certificate of Amendment to the Company's
Articles of Incorporation changing the authorized common shares
from 600 million to 1.5 billion.  The par value remains at .001/per
share.

JSJ Investments Note Conversion:

JSJ Investments, Inc., entered into a convertible promissory note
with Boreal Water dated May 25, 2014.  Currently, according to the
JSJ's Conversion Notice dated Jan. 20, 2015, the principal balance
of the JSJ Note is $76,256 with $6,016 in accrued interest.  The
JSJ Note provides for a conversion rate of a 45% discount of the
average of the three lowest trades in the last 20 trading days
prior to the conversion.  The Conversion Notice converts $18,621 of
the JSJ Note.  The conversion share price is $0.001118 (45%
discount of $0.00203).  The total number of common shares to be
issued as a result of this conversion is 16,651,113.

Officer Stock Matters:

On Jan. 19, 2015, Mrs. Francine Lavoie, president, CEO and sole
member of the Board of Directors, converted her Debt Conversion
Note Agreement to restricted Company common shares.  The Note is
dated July 31, 2014.  The principal amount of the Note is $250,342,
with accrued interest of $5,897, totaling $256,239.  The Note was
converted into 180,032,305 restricted common shares at $0.0014233
per share. Mrs. Lavoie's Notice of Conversion and the Company's
Board of Directors Resolution, both dated Jan. 19, 2015.

Mrs. Lavoie is currently serving a three year term as CEO and
president of the Company.  The contract expires after Sept. 23,
2015.  The contract is expressly not "at will."  She is to receive
3 million shares of restricted common stock per year of the
contract.  Her salary is $120,000 per year.  However, if the
Company does not pay her salary, or all of it, Mrs. Lavoie can take
the equivalent value in restricted common stock, calculated at a
30% discount of the average of the three lowest trades during the
previous 10 trading days prior to the date of conversion.

Pursuant to said employment contract, and because the Company has
not paid any portion of the cash salary to her, Mrs. Lavoie has
elected to receive 203,566,444 restricted common shares as
compensation from Sept. 24, 2012, through Jan. 22, 2015.

Mr. Krzysztof Umecki is currently serving a three year term as
vice-president - Operations of the Company.  The contract expires
after Sept. 23, 2015.  The contract is expressly not "at will."  He
is to receive 1 million shares of restricted common stock per year
of the contract.  His salary is $60,000 per year.  However, if the
Company does not pay his salary, or all of it, Mr. Umecki can take
the equivalent value in restricted common stock, calculated at a
30% discount of the average of the 3 lowest trades during the
previous 10 trading days prior to the date of conversion.

Pursuant to said employment contract, on Jan. 19, 2015, Mr. Umecki
(Mrs. Lavoie's spouse), and further because the Company has not
paid any portion of the cash salary to him, has elected to receive
100,617,468 restricted common shares as compensation from
Sept. 24, 2012, through Jan. 22, 2015.

                         About Boreal Water

Kiamesha Lake, N.Y.-based Boreal Water Collection, Inc., is a
personalized bottled water company specializing in premium custom
bottled water.

Boreal Water reported net income of $849,748 on $2.15 million of
sales for the year ended Dec. 31, 2013, as compared with a net
loss of $822,902 on $2.68 million of sales in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $3.01
million in total assets, $2.62 million in total liabilities and
$388,860 in total stockholders' equity.

Terry L. Johnson, CPA, in Casselberry, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditor noted
that the Company has incurred a deficit of approximately $2.5
million and has used approximately $400,000 of cash due to its
operating activities in the two years ended Dec. 31, 2013.  The
Company may not have adequate readily available resources to fund
operations through Dec. 31, 2014.  This raises substantial doubt
about the Company's ability to continue as a going concern.


BRIDGE FINCO: Moody's Rates Senior Secured 1st Lien Debt 'B2'
-------------------------------------------------------------
Moody's Investors Service has assigned a definitive B2 (LGD3, 38%)
rating to the senior secured first lien term loan and senior
secured revolving credit facility and a definitive Caa2 (LGD 6,
90%) rating to the senior secured second lien term loan borrowed by
Bridge Finco LLC. Bridge Finco LLC is a financing vehicle
subsidiary of Bridge HoldCo 4 Ltd, the ultimate parent company for
the Bridon restricted group. The B3 corporate family rating (CFR)
and B3-PD probability of default rating (PDR) of Bridge HoldCo as
well as the positive outlook remain unchanged.

Moody's definitive ratings are in line with the provisional ratings
assigned on 12 November 2014.

Ratings Rationale

Bridon's B3 rating is supported by the group's market position as a
leading manufacturer of wire ropes that are safety and/or mission
critical for asset performance in a diverse range of end markets.
Moody's note however that demand in the majority of end markets is
cyclical and might therefore negatively impact operating
profitability adversely if one or multiple sectors are in a
downturn. Balancing this exposure is its low dependence on new
projects as the majority of demand is driven by replacement
activities, which brings some visibility to revenues. Strong ties
with leading global engineering companies and the fact that
Bridon's ropes represent a small portion of operational costs of
major miners and oil & gas companies further support Bridon's
business profile. The rating also positively considers historical
earnings stability.

On a more negative note, the rating is constrained by the fairly
small scale of Bridon as indicated by sales of about GBP262 million
in the LTM period as of June 2014, albeit with solid geographic
diversification. The rating also considers that forecasted growth
in sales and profitability might be challenging to achieve
considering current weakness in oil prices which could trigger
capex cuts at major oil companies and subsequently stable or even
slightly reducing number of rigs. Also, Moody's do not foresee a
major recovery in mining, which could prevent forecasted restocking
activities of certain miners that are strained for cash. In
addition, Moody's caution that volatility of raw material prices,
in particular for steel rod could result in some margin volatility
should Bridon not be able to pass these on through selling price
increases in a timely fashion. Given these factors, Bridon's
leverage is considered high at this point in time but positions the
group solidly in the B3 rating category, as evidenced by pro forma
debt/EBITDA as adjusted by Moody's of around 7x.

The positive outlook reflects Moody's expectation that Bridon will
be able to show profit improvements over the next 12-18 months,
largely on the back of a recovery in the group's mining revenues
and continued support from oil & gas as well as industrial
activities. In addition, restructuring and cost savings as well as
incremental profit generation from the acquisition of Scanrope
should further support increasing profit levels. This should allow
Bridon to improve its financial risk profile such that its
debt/EBITDA as defined by Moody's improves towards 6x.

Moody's view Bridon's liquidity profile as adequate. Internal
sources include cash on hand of around GBP10 million following the
refinancing and operating cash flow before working capital
requirements expected at around GBP20-25 million for the next
twelve months. In addition, Moody's note that Bridon has access to
a revolving credit facility amounting to USD40 million.

These sources should be sufficient to fund working cash
requirements, estimated at around 3% of sales, as well as capex
forecasted at around GBP8-10 million per year, with the RCF in
place to support seasonal working capital swings and issuance of
LoCs.

The B2 ratings assigned to the USD286 million senior secured first
lien term loan and the USD40 million revolving credit facility is
one notch above the group's corporate family rating. The rating on
these instruments reflect their contractual seniority in the
capital structure and benefits from a collateral package,
consisting of a pledge over the majority of the group's assets as
well as upstream guarantees from most of the group's operating
subsidiaries, representing more than 80% of aggregate EBITDA.
Lenders of the second lien term loan benefit from the same
collateral and guarantee package, but on a subordinated basis,
therefore the rating of the second lien term loan is two notches
below the group's B3 corporate family rating at Caa2.

A higher rating would require a track record of profitability
improvements that allows the group to materially deleverage.
Quantitatively, Moody's would consider a positive rating action if
Moody's adjusted debt/EBITDA were to decline to 6x times with
consistently positive free cash flow generation. Negative pressure
would build should Bridon's operating profitability decline from
current levels of around GBP40 million of EBITDA with subsequently
deteriorating leverage. A negative rating action could also be
triggered by a weakening liquidity profile due to Bridon incurring
material amounts of negative free cash flow and/or tightening
covenant headroom.

Assignments:

Issuer: Bridge Finco LLC

Backed Senior Secured Bank Credit Facility (Foreign Currency) Nov
12, 2019, Assigned B2

Backed Senior Secured Bank Credit Facility (Foreign Currency) Nov
12, 2021, Assigned B2

Backed Senior Secured Bank Credit Facility (Foreign Currency) Nov
12, 2022, Assigned Caa2

The principal methodology used in this rating was Global
Manufacturing Companies published in July 2014. Other methodologies
used include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Bridon is a globally active manufacturer and supplier of specialist
high quality wire rope. Key product lines include wire rope and
strand, fibre rope and wire, specialist installations and
inspection services, supplying global customers in the oil & gas,
mining, industrial, marine and infrastructure sectors. The company
focuses on safety or mission/performance critical ropes, requiring
high technological know-how and innovation capabilities. In 2013,
Bridon generated revenues of GBP 263 million. Bridon is currently
in the process of being acquired through funds managed by Ontario
Teachers' Pension Pla.



BROADWAY FINANCIAL: Paul Hudson Resigns From Boards
---------------------------------------------------
Paul C. Hudson tendered his resignation, effective Feb. 1, 2015,
from the Boards of Directors of Broadway Financial Corporation,
parent company of Broadway Federal Bank, and the Bank, according to
a regulatory filing with the U.S. Securities and Exchange
Commission.  The resignation was not a result of any disagreement
with the Company on any matter relating to the Company's
operations, policies or practices.

                     About Broadway Financial

Los Angeles, Calif.-based Broadway Financial Corporation was
incorporated under Delaware law in 1995 for the purpose of
acquiring and holding all of the outstanding capital stock of
Broadway Federal Savings and Loan Association as part of the
Bank's conversion from a federally chartered mutual savings
association to a federally chartered stock savings bank.  In
connection with the conversion, the Bank's name was changed to
Broadway Federal Bank, f.s.b.  The conversion was completed, and
the Bank became a wholly owned subsidiary of the Company, in
January 1996.

The Company is regulated by the Board of Governors of the Federal
Reserve System.  The Bank is regulated by the Office of the
Comptroller of the Currency and the Federal Deposit Insurance
Corporation.

Broadway Financial reported a loss allocable to common
stockholders of $1.08 million in 2013, a loss allocable to common
stockholders of $693,000 in 2012 and a net loss available to
common shareholders of $15.4 million in 2011.


BROWNIE'S MARINE: Hires RBSM LLP as New Accountants
---------------------------------------------------
Brownie's Marine Group, Inc., engaged RBSM LLP as its independent
registered public accounting firm for the Company's fiscal year
ended Dec. 31, 2014, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  The decision to engage RBSM as
the Company's independent registered public accounting firm was
approved by the Company's Board of Directors.

Brownie's Marine was notified by L.L. Bradford & Company, LLC, that
Bradford has merged its SEC business with RBSM, LLP.  Pursuant to
this merger, the Company's financial statements will be audited by
RBSM, LLP, and no longer by Bradford.

The reports of Bradford on the Company's financial statements as of
and for the year ended Dec. 31, 2013, and 2012 contained the
explanatory paragraphs which noted that there was substantial doubt
as to the Company's ability to continue as a going concern as the
Company has reported a net loss for the period then ended and had
an accumulated deficit as of the period then ended that raises
doubt about its ability to continue as a going concern.

During the years ended Dec. 31, 2013, and 2012 and through Jan. 21,
2015, the Company has not had any disagreements with Bradford on
any matter.

During the two most recent fiscal years and through the Engagement
Date, the Company said it has not consulted with RBSM.

                      About Brownie's Marine

Brownie's Marine Group, Inc., does business through its wholly
owned subsidiary, Trebor Industries, Inc., d/b/a Brownie's Third
Lung, a Florida corporation.  The Company designs, tests,
manufactures and distributes recreational hookah diving, yacht
based scuba air compressor and nitrox generation systems, and
scuba and water safety products.  BWMG sells its products both on
a wholesale and retail basis, and does so from its headquarters
and manufacturing facility in Fort Lauderdale, Florida.  The
Company's common stock is quoted on the OTC BB under the symbol
"BWMG".  The Company's Web site is
http://www.browniesmarinegroup.com/  

Brownie's Marine reported a net loss of $788,000 in 2013, as
compared with a net loss of $2.01 million in 2012.

As of Sept. 30, 2014, the Company had $1.16 million in total
assets, $1.44 million in total liabilities, and a $285,000 total
stockholders' deficit.

                         Bankruptcy Warning

"During the fourth quarter of 2011, the Company formed a joint
venture with one dive entity, and in the first quarter of 2012,
purchased the assets of another, with assumption of their retail
location lease in Boca Raton, Florida.  The Company accomplished
both transactions predominantly through issuance of restricted
common stock in BWMG.  The Company believed these transactions
would help generate sufficient future working capital.  Neither
endeavor did or has generated profit or positive cash-flow.
Therefore, effective May 31, 2013, the Company closed and ceased
operations at its retail facility.  As a result, the Company does
not expect that existing cash flow will be sufficient to fund
presently anticipated operations beyond the fourth quarter of
2014.  This raises substantial doubt about BWMG's ability to
continue as a going concern.  The Company will need to raise
additional funds and is currently exploring alternative sources of
financing.  We have issued a number of convertible debentures as
an interim measure to finance our working capital needs.  We have
historically paid for many legal and consulting services with
restricted stock to maximize working capital.  We intend to
continue this practice in the future when possible.  We have
implemented some cost saving measures and will continue to explore
more to reduce operating expenses.

"If we fail to raise additional funds when needed, or do not have
sufficient cash flows from sales, we may be required to scale back
or cease operations, liquidate our assets and possibly seek
bankruptcy protection.  The accompanying consolidated financial
statements do not include any adjustments that may result from the
outcome of this uncertainty," the Company stated in the Form 10-Q
for the period ended Sept. 30, 2014.


C WONDER: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                          Case No.
     ------                                          --------
     C. Wonder LLC                                   15-11127
     1115 Broadway, 5th Floor
     New York, NY 10010

     C. Wonder Transport LLC                         15-11129

     C. Wonder Gift Cards Inc.                       15-11130

     CW Holland LLC                                  15-11131

     CW International Holdings, LLC                  15-11132

Type of Business: Specialty retailer

Chapter 11 Petition Date: January 22, 2014

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Hon. Michael B. Kaplan

Debtors' Counsel: Michael D. Sirota, Esq.
                  Warren A. Usatine, Esq.
                  Felice R. Yudkin, Esq.
                  COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
                  Court Plaza North
                  25 Main Street
                  P.O. Box 800
                  Hackensack, New Jersey 07602-0800
                  Tel: (201) 489-3000
                  Fax: (201) 489-1536
                  Email: msirota@coleschotz.com
                         wusatine@coleschotz.com
                         fyudkin@coleschotz.com

Debtors'          MAROTTA, GUND, BUDD & DZERA, LLC
Crisis
Management
Services
Provider:

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $50 million to $100 million

The petitions were signed by Stephen Marotta, chief restructuring
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Unitedtex Limited                                      $342,132
Unit 1308-10, 13/F, Col Tower
Wharf T&T Square
123 Hoi Bun Road
Kwun Tong, Hong Kong

Shinwon Corp.                                          $292,063
Shinwon Bldg., #328
Dongmak-ro Mapo-Gu
Seoul, Korea 121-729

Ai Tayer Trends LLC                                    $264,000
P.O. Box 2623, Garhoud
Atrium Bldg. Attn: CEO
United Arab Emirates
Garhoud, Dubai

McCoy Limited                                          $260,976
Room 1118, Nan Fung
Commercial
Centre No. 19, Lam Lok
Street
Kowloon Bay, Hong Kong

Popular Talent Co., Limited                            $245,850

Store Specialists, Inc.                                $220,000

Open Realty Advisors LLC                               $168,768

Chaozhou Qingfa Ceramic Co., Ltd.                      $151,362

Sitoy Handbag Factory Ltd.                             $132,176

Jade Knitting & Garment Fty Ltd.                       $131,225

Jiangsu Xiangfa Silk                                   $126,333

Zhejiang Springalr Cashmere Knitting Co., Ltd.         $104,383

The Supply Source LLC                                  $102,554

KRG Enterprises, Inc.                                   $99,328

Schmenti Construction Company, LLC                      $92,354
  
Logic Information Systems Inc.                          $86,100

Photocraft, Inc.                                        $82,400

Long Sight Enterprises Company Ltd.                     $70,348

Westchester Mall Associates                             $65,529

Tysons Corner Holdings LLC                              $64,233


C WONDER: Files for Chapter 11; Shutting Down Business
------------------------------------------------------
C. Wonder LLC said in a statement that it filed for Chapter 11
bankruptcy protection in New Jersey on Jan. 22, 2015, after "a
combination of market pressures and mounting operating costs."

Citing a person familiar with the matter, Sapna Maheshwari at
BuzzFeed News relates that most of the Company's roughly 100
workers left when the Company announced during a Jan. 5 meeting
that it would be shutting down.  The Company plans to liquidate its
remaining inventory in four New York City area stores, the report
says.

The Company, according to BuzzFeed News, attempted closing 20 of
its 32 locations and spoke of a potential transition into a
wholesale brand, but the efforts failed.  The report states that
the Company has shut down its social media accounts and website. \

The Company said in a statement that it filed a motion for a
Christoper Burch-controlled entity to acquire certain company
assets, including its intellectual property, according to the
statement.

C. Wonder is a whimsical retail chain created by Tory Burch's
ex-husband, Christopher Burch.


CACHE INC: 2nd Bankr. Filing Expected This Week, Sources Say
------------------------------------------------------------
Cache Inc. could file for bankruptcy for the second time next week,
Lauren Coleman-Lochner and Jodi Xu Klein at Bloomberg News reports,
citing people familiar with the matter.

Bloomberg News recalls that the Company filed for Chapter 11
bankruptcy protection in 1986 and emerged in 1988.

Bloomberg News relates that the Company's chief marketing officer
resigned in December 2014, and the Company reiterated this month
that it has fallen below the Nasdaq's listing requirements.  The
report adds that on Jan. 23, 2015, the Company's shares dropped 49%
to less than 10 cents in New York, reducing its market value to $3
million.

Cache Inc., a clothing chain known for helping popularize Armani
and Versace designs in the U.S., operates 237 boutiques in what it
describes as "high-traffic upscale" malls in 43 states.  Marilyn
Rubinson opened the first Cache store in Miami in 1976.


CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 11% Off
-------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
89.46 cents-on-the-dollar during the week ended Friday, January
23, 2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.58 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 875 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on March 1, 2017, and carries Moody's Caa3 rating and Standard &
Poor's D rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.



CAESARS ENTERTAINMENT: 2021 Bank Debt Trades at 9% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
91.55 cents-on-the-dollar during the week ended Friday, January 23,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents a
decrease of 0.39 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 525 basis points
above LIBOR to borrow under the facility.  The bank loan matures on
April 2, 2021, and carries Moody's B2 rating and Standard & Poor's
B+ rating.  The loan is one of the biggest gainers and losers among
205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


CAESARS ENTERTAINMENT: Could Seek Injunction to Block Suits
-----------------------------------------------------------
Kimberly Pierceall at The Associated Press reports that
Caesars Entertainment Operating Co. could seek an injunction to
block lawsuits against its related companies.

As reported by the Troubled Company Reporter on Jan. 21, 2015, Peg
Brickley at The Wall Street Journal reported that U.S. District
Judge Shira Scheindlin ruled that Caesars Entertainment Corp. may
have breached federal law when it shuffled its casino assets.
According to the report, Judge Scheindlin said Caesars's deal with
bondholders to cut off guarantees of the debts of its biggest
subsidiary was an "impermissible out-of-court debt restructuring"
that stripped assets from the unit while leaving bondholders "with
an empty right to assert a payment default from an insolvent
issuer."

The AP relates that the case won't proceed against the subsidiary
as long as it is in bankruptcy, but it could against the parent
company.

According to The AP, some first-in-line bank lenders said that they
had formed a committee to oppose the bankruptcy plan that other
creditors had agreed to.

The AP states that the Bankruptcy Court in Delware will decide on
Tuesday the venue of the Chapter 11 bankruptcy case.  The report
adds that Caesars prefers Chicago, where the bankrupt subsidiary
filed for bankruptcy protection, against three creditors who prefer
Delaware, where they filed an involuntary bankruptcy petition
against the bankrupt company.

                    About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino  

companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.  Harrah's
announced its re-branding to Caesar's in mid-November 2010.  

Caesars Entertainment reported a net loss of $2.93 billion in 2013,
as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 billion in total liabilities and a $3.71
billion total deficit.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  The bondholders are represented by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
announced that holders of more than 60% of claims in respect of
CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior
secured notes due 2020 and CEOC's 9% senior secured notes due 2020
have signed the Amended and Restated Restructuring Support and
Forbearance Agreement, dated as of Dec. 31, 2014, among Caesars
Entertainment, CEOC and the Consenting Creditors.  As a result, the
RSA became effective pursuant to its terms as of Jan. 9, 2015.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.


CAESARS ENTERTAINMENT: Restructuring Not Simple Fix, Fitch Says
---------------------------------------------------------------
Howard Stutz at Las Vegas Review-Journal reports that Fitch Ratings
Service analyst Alex Bumazhny warned investors on Jan. 22, 2015,
that the restructuring of Caesars Entertainment Operating Co.,
which will eliminate almost $10 billion of the division's $18.4
billion debt load, wasn't a simple fix.

The efforts by Caesars Entertainment Corp. to restructure 81% of
its gaming industry-high debt will be a "drawn out" process, Las
Vegas Review-Journal says, citing Fitch.  The report quoted Mr.
Bumazhny as saying, "We continue to hold that the CEOC bankruptcy
will be protracted given the complexity of the capital structure,
the inter-company asset transfers and sales and the contentious
dealings with creditors to date."

Mr. Bumazhny, according to Las Vegas Review-Journal, said he would
give the Debtor a negative rating after accounting for the lease
payments and other expenses.  The report quoted him as saying, "The
term loans' cash recovery mostly hinges on Caesars selling $2.6
billion of Caesars Palace mortgage and debt to third-party
investors, all compounded by Caesars asking the lenders to release
their parent guarantee."

Las Vegas Review-Journal relates that Mr. Bumazhny warned the
private equity firms might have to "dilute their positions in
Caesars" in order to make concessions to some angry creditors.
According to the report, Mr. Bumazhny believes Caesars would have
problems selling casinos to outside parties, as the properties
would be removed from the company's 45 million-member Total Rewards
player loyalty program.

Jocelyn Wood at Pokerfuse.com reports that Caesars Interactive
Entertainment and the World Series of Poker live tournament series
is not directly affected by the bankruptcy.  Raquel Hendrickson at
Inmaricopa.com relates that Harrah's Ak-Chin -- managed by CEOC but
is owned by the Ak-Chin Indian Community -- is one of the more than
35 affiliated properties that are excluded from the bankruptcy.

Citing CEO Gary Loveman, Pokerfuse.com states that Caesars
Entertainment has not run out of money, and that the Chapter 11
bankruptcy only affects Caesars Entertainment Operating Company.
Caesars Entertainment CEO Mitch Garber was also appointed to be the
Vice Chairman of Caesars Entertainment, the report adds.

                    About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino  

companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.  Harrah's
announced its re-branding to Caesar's in mid-November 2010.  

Caesars Entertainment reported a net loss of $2.93 billion in 2013,
as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 billion in total liabilities and a $3.71
billion total deficit.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10 percent second lien notes in the company, filed an
involuntary Chapter 11 bankruptcy petition against Caesars
Entertainment Operating Company, Inc. (Bankr. D. Del. Case No.
15-10047) on Jan. 12, 2015.  The bondholders are represented by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP.

In January 2015, Caesars Entertainment and subsidiary CEOC
announced that holders of more than 60% of claims in respect of
CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior
secured notes due 2020 and CEOC's 9% senior secured notes due 2020
have signed the Amended and Restated Restructuring Support and
Forbearance Agreement, dated as of Dec. 31, 2014, among Caesars
Entertainment, CEOC and the Consenting Creditors.  As a result, the
RSA became effective pursuant to its terms as of Jan. 9, 2015.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Kirkland & Ellis serves as the Debtors' counsel.  Alixpartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.


CITGO HOLDING: Moody's Assigns Caa1 CFR & Rates $1BB Loan Caa1
--------------------------------------------------------------
Moody's assigned a Caa1 corporate family rating to Citgo Holding,
Inc. and a Caa1, LGD4 rating to its proposed USD1 billion in
secured Term Loan B and USD1.5 billion in secured notes, both due
in 2020. Proceeds of the transactions will be mostly used to pay
dividends to PDVSA (Caa3 stable). The outlook on the ratings is
stable.

Ratings Rationale

The Caa1 ratings on Citgo Holding, Inc, 100% owner of Citgo
Petroleum (Citgo B3 stable), are primarily driven by the latter's
credit quality. As a holding company, Citgo Holding, Inc's
liquidity and source of funds to service its debt are mostly
dependent on Citgo's cash generation and dividend payment capacity,
which are vulnerable to volatile refined product prices and
refining margins. During the last twelve months ended in September
2014, Citgo distributed USD 704 million in dividends and, at the
closing of the quarter, its total unadjusted debt was USD 1.7
billion.

On a consolidated basis, the proposed transaction will increase
Citgo Holding, Inc's adjusted leverage to 3.5 times gross
debt/EBITDA from 2 times as of September 2014. This compares to
Citgo's adjusted leverage of 2 times as of September 2014.

Prior or at the closing of the transactions, Citgo Holding Inc will
own 100% of Citgo as well as one company owner of five oil products
terminals, CITGO Holding Terminals, plus two companies owners of
pipeline networks, Southwest Pipeline Holding and Midwest Pipeline
Holding. Citgo Holding Inc will acquire the terminal and pipeline
companies from Citgo for USD 750 million, with proceeds from the
proposed transactions; during the last twelve months ended in
September 2014, these assets generated USD 40 million in EBITDA.

The new Term Loan B and the secured notes will only be guaranteed
by the terminal and pipeline companies; Citgo is not a guarantor of
the proposed transactions. The security package for the Term Loan B
and the notes is weak as it will only includes the terminals and
pipelines to be acquired from Citgo plus 49% of the capital stock
of Citgo.

Citgo Holding, Inc will maintain a reserve account for the benefit
of the creditors. The reserve account will be funded on the issue
date with funds sufficient to cover one semi-annual interest
payment on the debt; the issuer will be obligated to maintain at
least such level in the reserve account until the maturity of the
loan and the notes.

The B3 ratings on Citgo reflect heightened risk associated with
PDVSA's ownership and financial stress. PDVSA depends on CITGO for
dividends and controls the company's board and strategic direction.
It also supplies a significant share of CITGO's crude requirements
under a long-term supply agreement at market-based prices. PDVSA
periodically has borrowed through CITGO, increasing the
subsidiary's financial leverage, and continues to limit the
company's capital investment and growth opportunities. While
CITGO's assets are located in the US and its credit agreements
provide certain protections to lenders, including limitations on
dividends, it lacks an independent board, with its members and
senior management appointed by PDVSA. Meanwhile, the refineries
continue to generate good financial results, fund capital spending
internally, and maintain a solid liquidity profile, including cash
and committed bank facilities.

CITGO has adequate liquidity, mainly in the form of a mostly
undrawn USD 900 million revolving credit facility that matures in
July 2019. CITGO has headroom under the revolver's financial
covenant of maximum debt/capital of 60%; as of September 2014, its
debt/book capitalization ratio was 42%. CITGO's cash position is
small, with roughly USD 50 million of cash at September 30, 2014
but no near-term debt maturities.

CITGO's rating outlook is stable, tied to the stable outlook of
PDVSA.

Citgo Holding Inc.  is a company based on Delaware, US. Upon
completion of the proposed transactions, it will be a holding
company with no direct operations and no significant assets other
than its ownership of 100% of the capital stock of CITGO and 100%
of the limited liability company interests of CITGO Holding
Terminals, Southwest Pipeline Holding and Midwest Pipeline Holding,
all operating companies. Other than Citgo, all other subsidiaries
provide upstream guarantees and pledged collateral to Citgo
Holdings Inc.'s . As of September 2014, the holding company
reported assets and EBITDA of USD 8.6 Billion and USD 1.7 Billion,
respectively.

The principal methodology used in these ratings was Global Refining
and Marketing Rating Methodology published in December 2009. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.



CITGO PETROLEUM: S&P Affirms 'B-' Corp. Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on U.S. refinery CITGO Petroleum Corp. based on plans
by its ultimate parent PDVSA to arrange a dividend recapitalization
of its U.S. operations.  The outlook is stable. S&P also affirmed
its 'B+' issue-level rating on CITGO Petroleum's senior secured
debt and the recovery rating remains '1'.

S&P also assigned its 'B-' corporate credit rating to CITGO Holding
Inc., a newly created U.S. company that will own PDVSA's interests
in CITGO Petroleum.  The outlook is stable.  S&P also lowered the
SACP on CITGO Petroleum to 'b+' from 'bb' and assigned a 'b+' SACP
to CITGO Holding.

Finally, S&P assigned its 'B-' issue-level rating CITGO Holdings'
proposed $2.5 billion senior secured debt due 2020.  The recovery
rating is '3', reflecting S&P's expectation for meaningful (50% to
70%) recovery in the event of default.  This debt consists of a $1
billion term loan B due 2020 and $1.5 billion notes due 2020.

"We assess CITGO Petroleum and CITGO Holding on a consolidated
basis since CITGO Holding wholly owns CITGO Petroleum and is in
this case serving as the funding vehicle for the transaction but
receives nearly all of it cash flow from CITGO Petroleum," said
credit analyst Terry Pratt.  "The rating on CITGO Petroleum is
constrained by the rating of its parent PDVSA.  We assess the
consolidated standalone credit profile of CITGO Petroleum and CITGO
Holding at 'b+' based on a "fair" business risk profile and "highly
leveraged" financial risk profile."

The outlook on CITGO Petroleum and CITGO Holding is stable. Because
S&P already lowered its rating on CITGO Petroleum to 'B-', S&P
would expect the rating would remain 'B-' with a stable outlook
even if it lowered its rating PDVSA further.

The rating on PDVSA reflects that on Venezuela.  S&P don't expect
PDVSA's relationship with the government to change significantly in
the next two to three years.  S&P also believes the government
won't significantly reduce its heavy involvement in the sector or
in the company.  Therefore, the rating on PDVSA will likely follow
the rating trajectory on the sovereign.

Downside scenario

A negative rating action on PDVSA would not likely lead to a
negative rating action on CITGO Petroleum or CITGO Holding because
S&P believes it's unlikely that CITGO Petroleum and CITGO Holding
will be drawn into insolvency proceedings at the group level.  As
such, S&P would not envision a downgrade of CITGO Petroleum or
CITGO Holding unless they experiences unexpected liquidity issues.

Upside scenario

S&P would raise the rating on CITGO Petroleum and CITGO Holding if
S&P raises its rating on PDVSA  above 'CCC+', assuming that their
consolidated SACP remains at least 'b-' or higher (it is currently
'b+').



CLINICA REAL: Creditors Want Until April 1 to File Complaint
------------------------------------------------------------
State Farm Mutual Automobile Insurance Company, et al., creditors
and parties-in-interest in the Chapter 11 cases of Clinica Real,
LLC, et al., requested for an April 1, 2015 extension of the period
to file complaint pursuant to Section 523 of the Bankruptcy Code.
SFIC asked the Debtors for an extension, but the Debtors were
willing to provide a one-week extension only, until Jan. 7.

                         About Clinica Real

Clinica Real, LLC, dba Clinica Real Rehabilitation & Chiropractic,
filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 12-20451) in
Phoenix, Arizona, on Sept. 13, 2012.  Clinica Real, doing business
as Clinica Real Rehabilitation & Chiropractic, disclosed
$10.5 million in assets and $29.8 million in liabilities.

Clinica Real has no real property.  Its largest asset is an
unliquidated claim against State Farm Mutual Automobile Insurance
Co. and State Farm Fire & Casualty Co., which the Debtor valued at
$9.75 million.  Most of the claims against the Debtor are
unsecured.  State Farm has an unsecured claim of $29 million,
which the Debtor says is disputed.

Judge Sarah Sharer Curley presides over the case.  Mark J. Giunta,
Esq., serves as the Debtor's counsel.  The petition was signed by
Keith M. Stone, member.

The U.S. Trustee has not appointed an official committee.

Keith Michael Stone filed a separate Chapter 11 petition (Bankr.
D. Ariz. Case No. 12-20452) on Sept. 13, 2012.  Mr. Stone is
represented by Cindy L. Greene, Esq., at Carmichael & Powell,
P.C., in Phoenix, Arizona.

The cases are jointly administered under Case No. 12-20451.


CLOUDEEVA INC: Court OKs Withdrawal of Trenk Dipasquale as Counsel
------------------------------------------------------------------
Judge Kathryn C. Ferguson granted Trenk, Dipasquale Della Fera &
Sodono, P.C.'s motion to withdraw as counsel for Cloudeeva, Inc.
and its affiliates.

Trenk Dipasquale is permitted to file applications for
reimbursement of fees and expenses incurred in the Chapter 11
Case.

                        About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.  The cases are assigned to Judge Kathryn
C. Ferguson.

Cloudeeva disclosed $4,989,375 in assets and $6,528,910 in
liabilities as of the Chapter 11 filing.  The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel but
was replaced by Trenk, DiPasquale, Della Fera & Sodono, P.C.  Trenk
DiPasquale has also withdrawn as counsel in December 2014 as a
Chapter 11 trustee has been named in Debtors' cases.  The Debtors
have also tapped Cole, Schotz, Meisel, Forman & Leonard, P.A. as
appellate counsel.  Kurtzman Carson Consultants LLC serves as
claims and noticing agent.

In August 2014, Judge Ferguson dismissed the Debtors' Chapter 11
cases at the behest of Bartronics Asia PTE Ltd.  BAPL asserted that
the cases were not filed in good faith.  Since then, Judge Ferguson
reinstated the Debtors' cases but control has been given to a
Chapter 11 trustee.

Stephen Gray has been appointed as Chapter 11 trustee.  Saul Ewing
LLP has been tapped as the trustee's counsel.  Punhani Law Firm LLC
serves as his special counsel to address existing and future
immigration issues, Chrysalis Management LLC serve as his financial
advisor.


CONNEAUT LAKE: 4 Creditors Added in Largest Unsec. Claims List
--------------------------------------------------------------
An amended accounting filed with the U.S. Bankruptcy Court for the
Western District of Pennsylvania shows that Conneaut Lake Park owes
20 major creditors about $676,281, which, according to Valerie
Myers at Goerie.com, is about $320,375 more than the previous
listing of the largest unsecured claims against the Park.

Goerie.com reports that four other creditors were added to these
creditors were added to the list of largest unsecured claims: (i)
Northwest Planning Commission, which is owed $30,000 for an
operating loan; (ii) Griffin Motors, which is owed $25,000 for a
loan; (iii) Shafer, Swick, Bailey & Irwin, which is owed $13,826
for legal services; and (iv) Lifco Hydraulics, which owed $10,084
in trade debt.  According to court documents, Penelec -- owed about
$280,586 -- is the largest unsecured creditor in the amended list
of creditors.

Citing developers, Isaac Stanley-Becker at Pittsburgh Post-Gazette
relates that plans for the Park include short-term cleanup to ready
the park for the summer months and long-term redevelopment to
transform the Park into a cultural destination that can earn
revenue year-round.

According to Pittsburgh Post-Gazette, County Commissioner Francis
F. Weiderspahn Jr. said that the property is still is slated for
sale for back taxes on Sept. 26, unless the new board presents a
plan to pay.  The report states that the trustees will be
responsible for unpaid property taxes totaling about $900,000.

Bill Vidonic at Triblive.com reports that concerns have surfaced
over the finances and the role Hotel Conneaut, one of the last
attractions inside the Conneaut Lake Park, could play in
revitalizing the Park.  The hotel hasn't made payments called for
by its lease, the report says, citing Mark Turner, head of the
Park's board of trustees and executive director of Economic
Progress Alliance of Crawford County, which took over park
operations in May.

Triblive.com states that Park Restoration LLC and the trustees
disagree over whether bills have been paid, whether hotel rent is
due and who owes what for sewer service, but Mr. Turner said that
all business relationships, including that with Park Restoration
LLC, will be closely examined as part of a Chapter 11 bankruptcy.

                     About Conneaut Lake Park

Conneaut Lake Park is a summer amusement resort, located in
Conneaut Lake, Pennsylvania.

Trustees of Conneaut Lake Park, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Pa. Case No. 14-11277) in Erie, Pennsylvania,
on Dec. 4, 2014.  The case is assigned to Judge Thomas P. Agresti.
The Debtor tapped George T. Snyder, Esq., at Stonecipher Law Firm,
in Pittsburgh, as counsel.  The Debtor estimated assets and debt of
$1 million to $10 million.

Trustees of Conneaut Lake Park filed for bankruptcy protection less
than 20 hours before the Crawford County amusement park was
scheduled to go to sheriff's sale for almost $930,000 in back taxes
and related fees.


CONTINENTAL BAR: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------
Yoona Ha at Crain's New York Business reports that Third Ave & St.
Mark's, Inc., dba Continental, struggling to keep up with the
neighborhood's changing tastes, filed for Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 14-13482) on Dec. 23, 2014,
its second time since 2009.

Joel Shafferman, Esq., at Shafferman & Feldman, LLP, serves as the
Debtor's bankruptcy counsel.

Crain's relates that a dispute over jukebox revenue eventually
resulted into a lawsuit that went on for about seven years, which
ended in arbitration with $49,762.96 awarded to PLK Vending.

According to Crain's, Third Ave & St. Mark's owner Trigger Smith
admitted that the suit dealt a huge blow to his business.  "This
jukebox battle was not only financially devastating but has taken
its toll on me emotionally, spiritually, morally and ethically,"
the report quoted him as saying.

Crain's says that the bar will continue to operate.

Continental Bar in the East Village, New York, hosted some of
rock's greatest hit makers before they were well known.  The
Ramones, Iggy Pop, Patti Smith, The Wallflowers and Guns N' Roses
are among the bands that once played on its stage.


CORD BLOOD: Asks Shareholders to Vote for Common Shares Hike
------------------------------------------------------------
Cord Blood America, Inc., filed a Preliminary Proxy Statement,
Schedule 14A, with the U.S. Securities & Exchange Commission on
Jan. 23, 2014, and provided an update for shareholders detailing
why a "YES" vote to increase the number of authorized shares is
requested.

Dear Shareholders,

As we reflect upon the 2014 fiscal year that recently concluded, we
take pride in the operational performance we have accomplished
through the first nine months as well as the transformation the
Company has undergone since May of 2012.  During this time period,
the Company has:

   * Taken no outside financing for working capital purposes since
     March 2012 (cash flow positive for 9 consecutive quarters);

   * Divested itself and eliminated investment in unprofitable
     foreign entities;

   * Launched three new service offerings, diversifying revenues
     while contributing to its long-term recurring revenue growth;

   * Received its AABB Accreditation;

   * Invested in a multi-functional platform of technology which
     should provide for a predominately "paperless" operation by
     mid-year 2015.

Looking ahead, we know the legacy issue of the convertible note
debt has been a burden on the Company's capital structure, directly
impacting shareholder value.  In a major milestone to eliminate
this burden on the Company, we recently announced, on December 23,
2014, the settlement of the litigation with Tonaquint and St.
George.

Now the work begins on eliminating the remaining debt of the
Company.  What I want to emphasize with this proposed increase is
that it is not being put forth to be used as the primary or
expected vehicle to reduce the remaining debt through the issuance
of common stock to Tonaquint.  If this was the plan, the increase
we seek would have to be much larger to ensure that we could pay
off the entire amount, including interest using common stock
issuances.  Our history indicates that full consideration must be
given to the discount to market price per share on the convertible
feature per the note, and the impact of the constant dilution
through the issuance of common stock which typically drives the
share price down from pre-issuance prices.  Additionally, it is
important to note that even though the Company can designate
certain amounts as eligible for conversion to common stock by
Tonquint, the conversion of shares is then an option held solely by
Tonaquint, and not that of the Company.

We also understand that additional evidence is sometimes needed to
those external to the Company that adds support to our statements,
thus we can announce today that the Company has already made cash
payments in December 2014 and January 2015 of $100,000 each, to
begin the process of paying off the Company’s remaining debt
obligation.  These payments are applied to the April 17, 2015 and
May 17, 2015 installments due.  While we make no assurances that
the monthly payments in cash produced by the Company's operations
will be sufficient to fully fund the ongoing debt obligation, the
Company believes that it can continue to generate cash to be used
at least in part to retire the debt, rather than paying the total
amounts in common stock.  We saw evidence of this in the third
quarter of 2014 where revenues increased by 25% year over year,
with a large contributor to this increase being the continued
growth of the Company's tissue related procurement services.

Running parallel to the day-to-day performance of the Company,
management continues to evaluate additional options as it moves
forward with its repayment of the debt.  This requested increase in
the number of authorized shares may be needed as we explore other
alternatives to retire the debt and/or daily operations do not
produce the requisite cash.  Additionally, management, along with a
significant portion of the employees, have agreed to receive common
stock in lieu of cash for 2014 operational bonuses and 2015 wage
increases.  This dedicated group of employees understands the
importance of the Company retaining its cash in connection to its
efforts to reduce its debt, plus have confidence in the long-term
potential of the Company.  Retention and the commitment of this
team, who have been instrumental in the Company's progress to date,
remain critical to long-term success.

We again ask you, our shareholders, to support management in this
measure and vote "Yes" on the proposals set for vote at the April
10, 2015 special shareholder's meeting.  There has been a
significant amount of work done to position the Company for the
future, and management believes the elimination of the remaining
debt obligation opens new opportunities for increased growth and
shareholder value.

"Never" is a word I will not use as I go about the future direction
of CBAI.  However, I do want to state that we are confident that
this increase in the authorized shares is sufficient to provide the
flexibility required to retire the remaining debt of the Company,
and seize upon the Company's prospects for the foreseeable future.

Sincerely,

Joseph R. Vicente
Chairman and President

                      About Cord Blood America

Based in Las Vegas, Nevada, Cord Blood America, Inc., is primarily
a holding company whose subsidiaries include Cord Partners, Inc.,
CorCell Co. Inc., CorCell Ltd.; CBA Professional Services, Inc.
D/B/A BodyCells, Inc.; CBA Properties, Inc.; and Career Channel
Inc, D/B/A Rainmakers International.  Cord specializes in
providing private cord blood stem cell preservation services to
families.  BodyCells is a developmental stage company and intends
to be in the business of collecting, processing and preserving
peripheral blood and adipose tissue stem cells allowing
individuals to privately preserve their stem cells for potential
future use in stem cell therapy.  Properties was formed to hold
the corporate trademarks and other intellectual property of CBAI.
Rain specializes in creating direct response television and radio
advertising campaigns, including media placement and commercial
production.

Cord Blood reported a net loss of $2.97 million on $5.97 million
of revenue for the year ended Dec. 31, 2013, as compared with a
net loss of $3.49 million on $5.99 million of revenue in 2012.

Rose, Snyder & Jacobs, LLP, in Encino, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has sustained recurring operating losses and has
an accumulated deficit at Dec. 31, 2012.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.

The Company's balance sheet at Sept. 30, 2014, showed
$3.95 million in total assets, $4.66 million in total liabilities,
and a $708,000 total deficit.


CRUMBS BAKE SHOP: Parties Seek Delay of Conversion Hearing
----------------------------------------------------------
Crumbs Bake Shop Inc., et al., and Coastal Foods Baking, LLC, asked
the Bankruptcy Court to adjourn the hearing to consider these:

   -- motion to convert case from Chapter 11 to Chapter 7;

   -- motion for a Determination of Brand2 Squared Licensing's
willful violation of the automatic stay and assessing damages
relating thereto;

   -- motion to Compel Coastal Foods Baking LLC to perform in
accordance with the terms of its license agreement and for damages
resulting from Coastal Foods' willful violation of the automatic
stay;

   -- cross-motion to modify the automatic stay as appropriate, and
as necessary, allow the administrative claim of Coastal Foods and
permit Coastal Foods to set off or recoup that administrative claim
against the otherwise due postpetition royalties due from Coastal
Foods;

   -- motion for relief from stay.

The parties requested for the adjournment of hearing as they
explore a potential amicable resolution of these matters -- the
motion to compel/stay violation motion -- Coastal and the Coastal
Cross-Motion, as the parties.  Coastal is in the midst of providing
documents and information to the Debtors.  In connection with the
agreement to adjourn these matters, the parties discussed
rescheduling them either later in December or early January, on a
date where the Court was sitting in Newark if possible.

The Debtors had requested that Brand2 Squared Licensing consent to
an adjournment but BSL refused (or at least initially has refused)
to consent to an adjournment.  The Debtors said that they will
await the Court's direction with respect to the adjournment
request.

                         Conversion Motion

As reported in the TCR on Oct. 16, 2014, the Debtors told the Court
that they have sold substantially all of their assets, have no
operating business to save and cannot propose a feasible plan of
reorganization.  Accordingly, the Debtors note they have no
alternative but to convert their Chapter 11 proceedings to Chapter
7 pursuant to Section 1112(a) of the Bankruptcy Code.

The Debtors said that they do not have sufficient funds available
to formulate and seek confirmation of a Chapter 11 plan, and the
potential causes of action, while believed to have value, will
take a long time to liquidate.  It is the Debtors' judgment that
in the particular circumstances of these Chapter 11 cases, the
goal of maximizing the net recoveries to creditors will best be
achieved through an orderly process that may be administered by a
Chapter 7 trustee.  The Official Committee of Unsecured Creditors
agrees with the Debtors' decision to convert the Debtors' Chapter
11 cases to Chapter 7.

BSL joined in the Debtors' motion for Chapter 7 conversion.

                      About Crumbs Bake Shop

Crumbs Bake Shop, Inc., and 22 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. D.N.J. Lead Case No. 14-
24287) on July 11, 2014.  Crumbs Bake Shop estimated assets of
$10 million to $50 million and the same range of liabilities.

Cole, Schotz, Meisel, Forman & Leonard, P.A., acts as the Debtors'
counsel.  Prime Clerk LLC is the Debtors' claims and noticing
agent.  Judge Michael B. Kaplan oversees the jointly administered
cases.

The U.S. Trustee appointed three creditors to serve in the
Official Committee of Unsecured Creditors.   Sharon L. Levine,
Esq., at Lowenstein Sandler LLP serves as Committee's counsel.

                           *     *     *

On July 7, 2014, the Board of Directors of Crumbs Bake Shop
determined to cease operations effective immediately.  The Board's
determination was made after the Company lacked sufficient
liquidity to maintain current operations.

On the petition date, Crumbs entered into an Asset Purchase
Agreement through which Lemonis Fischer Acquisition Company, LLC,
a joint venture created by Marcus Lemonis LLC and Fischer
Enterprises, L.L.C., will acquire the Crumbs' business as part of
the Company's Chapter 11 filing.  Lemonis Fischer Acquisition is
represented by Louis Price, Esq., at McAfee & Taft PC.

On Aug. 29, 2014, Crumbs Bake Shops completed the sale of its
assets for a credit bid of $7.14 million and the assumption of
various liabilities.  There are no cash proceeds and the credit
bid resulted in the repayment of all indebtedness to Lemonis
Fischer Acquisition, which held a first priority security interest
in the assets of the Company.  The Company's remaining assets will
be liquidated and the proceeds thereof will be utilized to pay
unsecured liabilities in accordance with applicable law and
certain advisors' fees and expenses.  The Company does not expect
that there will be any proceeds available for distribution to
shareholders.


CYCLONE POWER: Tonaquint Has 9.9% Stake as of Jan. 23
-----------------------------------------------------
Tonaquint, Inc., and its affiliates disclosed in a regulatory
filing with the U.S. Securities and Exchange Commission that as of
Jan. 23, 2015, they beneficially owned 86,045,424 shares of common
stock of Cyclone Power Technologies Inc. representing 9.99 percent
of the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/ceK71i

                        About Cyclone Power

Pompano Beach, Fla.-based Cyclone Power Technologies, Inc. (Pink
Sheets: CYPW) is a clean-tech engineering company, whose business
is to develop, commercialize and license its patented Rankine
cycle engine technology for applications ranging from renewable
power generation to transportation.  The Company is the successor
entity to the business of Cyclone Technologies LLLP, a limited
liability limited partnership formed in Florida in June 2004.
Cyclone Technologies LLLP was the original developer and
intellectual property holder of the Cyclone engine technology.

Cyclone Power reported a net loss of $3.79 million on $715,000 of
revenues for the year ended Dec. 31, 2013, as compared with a net
loss of $3 million on $1.13 million of revenues for the year ended
Dec. 31, 2012.

Mallah Furman, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2013.  The independent auditors noted that
the Company's dependence on outside financing, lack of sufficient
working capital, and recurring losses raises substantial doubt
about its ability to continue as a going concern.

The Company's balance sheet at Sept. 30, 2014, showed
$2.41 million in assets, $3.16 million in liabilities, and a
stockholders' deficit of $748,000.


DANBURY SPORTS: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Danbury Sports, LLC
        39 Fields Lane
        North Salem, NY 10560

Case No.: 15-22105

Nature of Business: Tennis and fitness facility

Chapter 11 Petition Date: January 22, 2015

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Hon. Robert D. Drain

Debtor's Counsel: Andrew G. Balbus, Esq.
                  BALBUS LAW FIRM
                  108 Mill Plain Road, Suite 200
                  Danbury, CT 06811
                  Tel: (203) 286-4121
                  Fax: (203) 286-4126
                  Email: abalbus@balbuslaw.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by John A. Kessler, managing member.

A list of the Debtor's seven largest unsecured creditors is
available for free at
http://bankrupt.com/misc/nywb15-22105.pdf


DJM ENTERPRISES: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: DJM Enterprises, LLC
        72 High Street
        Sanford, ME 04073

Case No.: 15-20029

Nature of Business: Real Estate

Chapter 11 Petition Date: January 22, 2015

Court: United States Bankruptcy Court
       Maine (Portland)

Judge: Hon. Peter G Cary

Debtor's Counsel: Jeffrey P. White, Esq.
                  JEFFREY P. WHITE AND ASSOCIATES, P.C.    
                  243 Mount Auburn Ave., Suite B-1
                  Auburn, ME 04210
                  Tel: (207) 689-2111
                  Fax: (207) 689-2112
                  Email: jwhite@whitelawoffices.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Deborah J. Miles, member/manager.

The Debtor did not include a list of its largest unsecured
creditors when it filed the petition.


DUPONT PERFORMANCE: Bank Debt Trades at 3% Off
----------------------------------------------
Participations in a syndicated loan under which DuPont Performance
Coatings is a borrower traded in the secondary market at 97.63
cents-on-the-dollar during the week ended Friday, January 23,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.45 percentage points from the previous week, The
Journal relates.  DuPont Performance Coatings pays 300 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on February 1, 2020, and carries Moody's B1 rating and
Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 212 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.



EPAZZ INC: Magna Reports 9.9% Stake as of Jan. 20
-------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Magna Equities I, LLC, and its affiliates disclosed
that as of Jan. 20, 2015, they beneficially owned 3,921,359 shares
of common stock of Epazz, Inc., representing 9.99 percent (based on
the total of 39,252,842 outstanding shares of Common Stock).

Magna Equities has the right to acquire 3,921,359 shares by way of
conversion of promissory notes, subject to the right of the Company
to repay the notes.  The shares of Common Stock owned indirectly by
Magna Equities I may be acquired pursuant to the conversion of the
outstanding Convertible Promissory Notes in the aggregate principal
amounts of $42,323 and $17,500.

A copy of the regulatory filing is available for free at:

                       http://is.gd/yuKoTJ

                         About EPAZZ Inc.

Chicago, Ill.-based EPAZZ, Inc., was incorporated in the State of
Illinois on March 23, 2000, to create software to help college
students organize their college information and resources.  The
idea behind the Company was that if the information and resources
provided by colleges and universities was better organized and
targeted toward each individual, the students would encounter a
personal experience with the college or university that could lead
to a lifetime relationship with the institution.  This concept is
already used by business software designed to retain relationships
with clients, employees, vendors and partners.

Epazz reported a net loss of $3.37 million on $750,100 of revenue
for the year ended Dec. 31, 2013, as compared with a net loss of
$1.90 million on $1.19 million of revenue for the year ended
Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $2.38 million in total
assets, $4.29 million in total liabilities and a $1.91 million
total stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has an accumulated deficit of $7.50 million and a
working capital deficit of $1.28 million, which raises substantial
doubt about its ability to continue as a going concern.

                        Bankruptcy Warning

The Company said in the 2013 Annual Report that it will need to
raise additional funds to continue to operate as a going concern.

"We cannot be certain that any such financing will be available on
acceptable terms, or at all, and our failure to raise capital when
needed could limit our ability to continue and expand our
business.  We intend to overcome the circumstances that impact our
ability to remain a going concern through a combination of the
commencement of additional revenues, of which there can be no
assurance, with interim cash flow deficiencies being addressed
through additional equity and debt financing.  Our ability to
obtain additional funding for the remainder of the 2014 year and
thereafter will determine our ability to continue as a going
concern.  There can be no assurances that these plans for
additional financing will be successful.  Failure to secure
additional financing in a timely manner to repay our obligations
and supply us sufficient funds to continue our business operations
and on favorable terms if and when needed in the future could have
a material adverse effect on our financial performance, results of
operations and stock price and require us to implement cost
reduction initiatives and curtail operations.  Furthermore,
additional equity financing may be dilutive to the holders of our
common stock, and debt financing, if available, may involve
restrictive covenants, and strategic relationships, if necessary
to raise additional funds, and may require that we relinquish
valuable rights.  In the event that we are unable to repay our
current and long-term obligations as they come due, we could be
forced to curtail or abandon our business operations, and/or file
for bankruptcy protection; the result of which would likely be
that our securities would decline in value and/or become
worthless."


ERF WIRELES: Issues 23.8 Million Common Shares
----------------------------------------------
ERF Wireless, Inc., issued 23,893,897 common stock shares pursuant
to existing convertible promissory notes from January 17 through
Jan. 23, 2015, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  

The Company receives no additional compensation at the time of the
conversions beyond that previously received at the time the
Convertible Promissory Notes were originally issued.  The shares
were issued at an average of $0.000734 per share.  The issuance of
the shares constitutes 20.408%  of the Company's issued and
outstanding shares based on 117,068,876 shares issued and
outstanding as of Jan. 16, 2015.

                        About ERF Wireless

Based in League City, Texas, ERF Wireless, Inc., provides secure,
high-capacity wireless products and services to a broad spectrum of
customers in primarily underserved, rural and suburban parts of the
United States.

ERF Wireless reported a net loss attributable to the company of
$7.26 million in 2013, a net loss of $4.81 million in 2012, and a
net loss of $3.37 million in 2011.

As of Sept. 30, 2014, the Company had $3.59 million in total
assets, $10.4 million in liabilities, and a $6.84 million
shareholders' deficit.


FIRST DATA: Matthew Cagwin Appointed Chief Accounting Officer
-------------------------------------------------------------
The Board of Directors of First Data Corporation appointed Matthew
Cagwin, 40, as vice president and chief accounting officer of the
Company, according to a regulatory filing with the U.S. Securities
and Exchange Commission.  Mr. Cagwin has served as vice president,
financial reporting, policies and Sarbanes Oxley at FDC since
February 2014.  Before joining the Company, Mr. Cagwin served as
vice president, financial services and strategic finance initiative
at Coca-Cola Enterprises from 2010 to 2014 and was assistant
controller at Coca-Cola Enterprises from 2009 to 2010.

In connection with Mr. Cagwin's appointment, the Company did not:
(1) enter into any material plan, contract or arrangement with Mr.
Cagwin, (2) enter into any material amendment of any plan, contract
or arrangement to which Mr. Cagwin was a party prior to his
appointment, or (3) grant any award or modify any award granted to
Mr. Cagwin prior to his appointment.

                         About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

First Data reported a net loss attributable to the company of
$869 million in 2013, a net loss of $701 million in 2012 and a net
loss of $516 million in 2011.

The balance sheet at Sept. 30, 2014, showed $34.0 billion in total
assets, $30.84 billion in total liabilities, $69.7 million in
redeemable non-controlling interest and $3.07 billion in total
equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST FINANCIAL: Completes Merger with Community Bank Shares
------------------------------------------------------------
Community Bank Shares of Indiana, Inc., acquired all of the
outstanding shares of common stock, par value $1.00 per share, of
First Financial through a statutory share exchange on Jan. 1, 2015.
Also on that date, First Financial was merged with and into
Community Bank Shares, with Community Bank Shares continuing as the
surviving corporation and as the successor-in-interest to First
Financial following the merger.

In connection with the consummation of the Merger, the offerings by
First Financial of its common stock pursuant to its Registration
Statements filed with the U.S. Securities and Exchange Commission
have been terminated.

                        About First Financial

Elizabethtown, Kentucky-based First Financial Service Corporation
is the parent bank holding company of First Federal Savings Bank
of Elizabethtown, which was chartered in 1923.  The Bank serves
six contiguous counties encompassing central Kentucky and the
Louisville metropolitan area, through its 17 full-service banking
centers and a commercial private banking center.

As of Sept. 30, 2014, the Company had $753 million in total
assets, $718 million in total liabilities and $34.6 million in
total stockholders' equity.

First Financial reported a net loss attributable to common
shareholders of $313,000 in 2013, a net loss attributable to common
shareholders of $9.44 million in 2012 and a net loss attributable
to common shareholders of $24.2 million in 2011.


FIRST FINANCIAL: Suspending Filing of Reports with SEC
------------------------------------------------------
First Financial Service Corporation filed a Form 15 with the U.S.
Securities and Exchange Commission to terminate the registration of
its common stock under Section 12(g) of the Securities
Exchange Act of 1934.  As a result of the Form 15 filing, the
Company is not anymore obligated to file reports with the SEC.

Effective as of Jan. 1, 2015, First Financial merged with and into
Community Bank Shares of Indiana, Inc., with CBIN surviving the
merger.  Accordingly, as of Jan. 22, 2015, there were no holders of
record of common stock of the Company.

In connection with the Merger, First Financial had terminated the
offerings under its 2006 Stock Option and Incentive Compensation
Plan, 2005 Employee Stock Ownership Plan, 1998 Stock Option and
Incentive Compensation Plan, 2005 401(k)/Employee Stock Ownership
Plan, and 1998 Stock Option and Incentive Compensation Plan.

                       About First Financial

Elizabethtown, Kentucky-based First Financial Service Corporation
is the parent bank holding company of First Federal Savings Bank
of Elizabethtown, which was chartered in 1923.  The Bank serves
six contiguous counties encompassing central Kentucky and the
Louisville metropolitan area, through its 17 full-service banking
centers and a commercial private banking center.

As of Sept. 30, 2014, the Company had $753 million in total
assets, $718 million in total liabilities and $34.6 million in
total stockholders' equity.

First Financial reported a net loss attributable to common
shareholders of $313,000 in 2013, a net loss attributable to common
shareholders of $9.44 million in 2012 and a net loss attributable
to common shareholders of $24.21 million in 2011.


FIRST SECURITY: Horstmann Reports 5.5% Stake as of Jan. 21
----------------------------------------------------------
Thompson Horstmann & Bryant, Inc., reported with the U.S.
Securities and Exchange Commission that as of Jan. 21, 2015, it
beneficially owned 3,698,640 shares of common stock of
First Security Group representing 5.53 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/FFK3DL

                    About First Security Group

First Security Group, Inc. is a bank holding company headquartered
in Chattanooga, Tennessee.  Founded in 1999, First Security's
community bank subsidiary, FSGBank, N.A. has 26 full-service
banking offices along the interstate corridors of eastern and
middle Tennessee and northern Georgia.  FSGBank --
http://www.FSGBank.com/-- provides retail and commercial banking
services, trust and investment management, mortgage banking,
financial planning, internet banking.

First Security incurred a net loss of $13.4 million in 2013, a
net loss of $37.6 million in 2012 and a net loss of $23.06
million in 2011.

As of Sept. 30, 2014, the Company had $1.02 billion in total
assets, $940 million in total liabilities and $88.0 million in
total shareholders' equity.


FOUR OAKS: May Issue 1.9MM Restricted Shares Under Stock Plan
-------------------------------------------------------------
The Board of Directors of Four Oaks Fincorp, Inc., approved and
adopted the Four Oaks Fincorp, Inc., 2015 Restricted Stock Plan on
Jan. 16, 2015.  Pursuant to the Plan, the Company may award up to
1,920,000 shares of its common stock, $1.00 par value per share, to
eligible employees, directors and third party service providers in
the form of restricted stock or restricted stock units.  The
Compensation Committee of the Board administers the Plan and has
broad discretion to construe and interpret the terms and the intent
of the Plan, to designate award recipients, to determine the number
of shares of restricted stock or RSUs to be subject to each award,
and to determine the terms and conditions of each award.  The Plan
will terminate after 10 years unless earlier terminated, and the
Committee may alter, amend, suspend or modify the Plan at any
time.

Also on Jan. 16, 2015, the Committee approved and adopted forms of
award agreements under the Plan for awards of restricted stock to
members of the Company's management and executive teams.

The Committee approved the grant of restricted stock to certain
employees of the Company under and pursuant to the terms of the
Plan and the applicable form of award agreement, including
performance-based grants to the executives in the following
amounts:

   Ayden R. Lee, Jr.
   Chairman, CEO and President              200,000 shares

   Nancy S. Wise
   Executive Vice President, CFO             50,000 shares

   Jeff D. Pope
   Executive Vice President, CBO            100,000 shares

The Committee also approved the award of shares of restricted stock
to Clifton L. Painter, former senior executive vice president,
chief operating officer and chief credit officer and current
consultant of the Company, pursuant to the terms of Mr. Painter's
Consulting Agreement, dated Oct. 1, 2014, with the Company.

A full-text copy of the Form 8-K is available at:

                        http://is.gd/RkgEFM

                          About Four Oaks

Based in Four Oaks, North Carolina, Four Oaks Fincorp, Inc., is
the bank holding company for Four Oaks Bank & Trust Company.  The
Company has no significant assets other than cash, the capital
stock of the bank and its membership interest in Four Oaks
Mortgage Services, L.L.C., as well as $1.24 million in securities
available for sale as of Dec. 31, 2011.

Four Oaks reported a net loss of $350,000 in 2013, a net loss of
$6.96 million in 2012 and a net loss of $9.09 million in 2011.

As of Sept. 30, 2014, the Company had $838 million in total
assets, $798 million in total liabilities and $40.1 million in
total shareholders' equity.

                          Written Agreement

"In late May 2011, the Company and the Bank entered into a formal
written agreement (the "Written Agreement") with the Federal
Reserve Bank of Richmond (the "FRB") and the North Carolina Office
of the Commissioner of Banks (the "NCCOB").  Under the terms of
the Written Agreement, the Bank developed and submitted for
approval, within the time periods specified, plans to:

   * revise lending and credit administration policies and
     procedures at the Bank and provide relevant training;

   * enhance the Bank's real estate appraisal policies and
     procedures;

   * enhance the Bank's loan grading and independent loan review
     programs;

   * improve the Bank's position with respect to loans,
     relationships, or other assets in excess of $750,000, which
     are now or in the future become past due more than 90 days,
     are on the Bank's problem loan list, or adversely classified
     in any report of examination of the Bank; and

   * review and revise the Bank's policy regarding the Bank's
     allowance for loan and lease losses and maintain a program
     for the maintenance of an adequate allowance.

A material failure to comply with the terms of the Written
Agreement could subject the Company to additional regulatory
actions and further restrictions on its business.  These
regulatory actions and resulting restrictions on the Company's
business may have a material adverse effect on its future results
of operations and financial condition," the Company said in its
quarterly report for the period ended March 31, 2014.


FOURTH QUARTER PROPERTIES: Case Summary & 14 Top Unsec. Creditors
-----------------------------------------------------------------
Debtor: Fourth Quarter Properties 86, LLC
           dba Little Jennie Ranch
        45 Ansley Drive
        Newnan, GA 30263

Case No.: 15-10135

Chapter 11 Petition Date: January 22, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Newnan)

Debtor's Counsel: Ward Stone, Jr.
                  STONE & BAXTER LLP
                  Suite 800 Fickling & Company Bldg
                  577 Mulberry Street
                  Macon, GA 31201
                  Tel: 478-750-9898
                  Fax: 478-750-9899
                  Email: wstone@stoneandbaxter.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $50 million to $100 million

The petition was signed by Stanley E. Thomas, manager.

List of Debtor's 14 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Ace Agribusiness                     Trade Debt         $8,090

All American Fuel Company, Inc.      Trade Debt         $5,501

Centresuite                          Trade Debt           $183

Century Link                         Trade Debt            $82

Century Link                         Trade Debt            $41

Cushing, Morris, Armbruster          Trade Debt         $1,151
& Montgomery                  

Fourth Quarter Properties            Loan              $39,217

John D. Phillips                     Loan          $33,000,000
945 E. Paces Ferry Road,
Suite 2210
Atlanta, GA 30326

King & King, LLC                     Attorney's Fees    $3,235

L. Jeness Saxton, Tax Commissioner   Property Taxes     $8,216

Lower Valley Energy                  Trade Debt           $540

Nationwide Agribusiness              Trade Debt         $1,672

Suburban Propane                     Trade Debt         $1,109

Wyoming Department of Agriculture    Trade Debt            $25


FREEDOM INDUSTRIES: Ex Pres. Allegedly Sent $6.5MM to Insurance Co
------------------------------------------------------------------
Pam Ramsay at The Associated Press reports that a federal grand
jury at Beckley, West Virginia, handed up a superseding indictment
on Jan. 21, 2015, accusing former Freedom Industries Inc. President
Gary Southern of sending a $6.5 million check from a personal bank
account around Feb. 7, 2014, to an insurance company to be
deposited in an annuity as part of a bankruptcy fraud scheme.

Mr. Southern, The AP states, allegedly schemed to defraud the
Company's creditors and plaintiffs who sued the Company and him
following the Jan. 9, 2014, spill of a coal-cleaning chemical from
a tank at the Company's storage facility along the Elk River in
Charleston.  According to the report, Mr. Southern allegedly
attempted to protect some of his assets from possible verdicts and
judgments.  

Charleston Daily Mail says that the new indictment alleged that Mr.
Southern and former owners William Tis, Charles Herzing and Dennis
Farrell (i) failed to maintain and were negligent in inspecting the
Etowah facility on the Elk River near Charleston, (ii) were
negligent in training workers on pollution prevention, and (iv) did
not have adequate supplies and equipment at the facility.

According to Charleston Daily Mail, the defendants are free on
bond.  The report adds that a trial on the matter previously had
been set for March.

Robert Allen, Esq., represents Mr. Southern in this case, The AP
reports.

                      About Freedom Industries

Freedom Industries Inc., is engaged principally in the business of
producing specialty chemicals for the mining, steel and cement
industries.  The Debtor operates two production facilities located
in (a) Nitro, West Virginia; and (b) Charleston, West Virginia.

The company, connected to a chemical spill that tainted the water
supply in West Virginia, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Case No. 14-bk-20017) on
Jan. 17, 2014.  The case is assigned to Judge Ronald G. Pearson.
The petition was signed by Gary Southern, president.

The Debtor is represented by Mark E Freedlander, Esq., at McGuire
Woods LLP, in Pittsburgh, Pennsylvania; and Stephen L. Thompson,
Esq., at Barth & Thompson, in Charleston, West Virginia.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.  The Committee retained Frost Brown Todd
LLC as counsel.

On March 18, 2014, the Bankruptcy Court approved the hiring of
Mark Welch at MorrisAnderson in Chicago as Freedom's chief
restructuring officer.


GENERAL MOTORS: No Promise of New Product in Canada
---------------------------------------------------
Reka Szekely and Keith Gilligan at Durhamregion.com reports that
General Motors has not committed new product to its Oshawa, Canada
plant beyond 2016, creating a level of concern about the Company's
future in Oshawa.  

According to Greg Keenan at The Globe and Mail, one of the
Company's Oshawa assembly plants is scheduled to close in 2016.  No
new products have been allocated to the other factory, which puts
its future in jeopardy later this decade, the report states, citing
people familiar with the matter.

The Globe and Mail relates that concerns have arisen about the
future of Oshawa in part because a commitment the Company made to
produce 16% of its North American-made vehicles in Canada expires
2016, in return for a $10.8-billion contribution by the federal and
Ontario governments to the bailout of the Company when it went into
Chapter 11 bankruptcy protection in 2009.  The report adds that the
two governments were given shares in the new GM that emerged from
bankruptcy protection and they still hold about 7%.  "We've been
there for them in tough times, we expect them to be there for
Canada," The Globe and Mail quoted Federal Industry Minister James
Moore as saying.

Durhamregion.com states that Oshawa mayor John Henry and the Durham
Regional Chairman Roger Anderson met with GM Canada president and
managing director Steve Carlisle and David Paterson, vice-president
corporate and environmental affairs for the company, at Durham
Region headquarters in Whitby on Jan. 20, 2015.  According to the
report, Mayor Henry said there were no promises about new products
coming to the plant, but "We had a great discussion about the
products that are made here and they're continuing to sell well . .
. .  It was more about understanding each other and recognizing
that General Motors is a big part of the Oshawa community, the
Ontario community and the business community."

The Company said it remains committed to Canadian investment The
Globe and Mail reports.  Mr. Carlisle said in a statement that the
Company's executives and the Canadian cabinet ministers discussed
how they can work together on future opportunities at operations in
Oshawa, Ingersoll, Ontario, and St. Catharines, Ontario.

                       About General Motors

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured
Creditors Holding Asbestos-Related Claims.  Lawyers at Kramer
Levin Naftalis & Frankel LLP served as bankruptcy counsel to the
Creditors Committee.  Attorneys at Butzel Long served as counsel
on supplier contract matters.  FTI Consulting Inc. served as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represented the Asbestos
Committee.  Legal Analysis Systems, Inc., served as asbestos
valuation analyst.

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31.

On Dec. 15, 2011, Motors Liquidation Company was dissolved.  On
the Dissolution Date, pursuant to the Plan and the Motors
Liquidation Company GUC Trust Agreement, dated March 30, 2011,
between the parties thereto, the trust administrator and trustee
-- GUC Trust Administrator -- of the Motors Liquidation Company
GUC Trust, assumed responsibility for the affairs of and certain
claims against MLC and its debtor subsidiaries that were not
concluded prior to the Dissolution Date.

                        *     *     *

The Troubled Company Reporter, on Sep. 29, 2014, reported that
Standard & Poor's Ratings Services raised its corporate credit
rating on U.S. automaker General Motors Co. (GM) to 'BBB-' from
'BB+', and revised the outlook to stable from positive.  At the
same time, S&P raised its issue-level rating on GM's unsecured
debt to 'BBB-' from 'BB+' and simultaneously withdrew its '4'
recovery rating on that debt, because S&P do not assign recovery
ratings to the issues of investment-grade companies.

On Oct. 21, 2014, the TCR reported that Fitch Ratings has assigned
a rating of 'BB+' to GM's amended unsecured credit facilities.
Fitch currently rates GM's Issuer Default Rating (IDR) 'BB+'.  The
Rating Outlook is Positive.  Fitch has also affirmed and withdrawn
the 'BB+' IDR of GM's General Motors Holdings LLC (GM Holdings)
subsidiary, as there is no longer any rated debt at the
subsidiary, and Fitch does not expect the subsidiary to be an
active issuer going forward.  Fitch has also withdrawn GM Holdings'
unsecured credit facility rating of 'BB+' as the subsidiary is no
longer a borrower on the facilities.

The TCR, on Nov. 6, 2014, reported that Fitch Ratings has assigned
a rating of 'BB+' to GM's proposed issuance of senior unsecured
notes.  The existing Issuer Default Rating (IDR) for GM is 'BB+'
and the Rating Outlook is Positive.


GLOBAL COMPUTER: Taps Miles & Stockbridge as Special Counsel
------------------------------------------------------------
Global Computer Enterprises, Inc., seeks to employ Miles &
Stockbridge P.C. as its special counsel as of Jan. 5, 2015.

MS as special counsel will file and prosecute an objection to the
claim of Qwest Government Services, Inc. d/b/a CenturyLink QGS,
which legal services cannot be performed by the Debtor's primary
bankruptcy counsel, McGuireWoods LLP, due to McGuireWoods'
representation of Century Link in matters unrelated to this case,
and to represent the Debtor with respect to additional potential
conflicts and claims objection litigation, if requested.

On Jan. 5, 2015, the Debtor entered into an engagement agreement
with MS, which contemplates that the Firm will represent the Debtor
in the case with respect to the Debtor's objection to Century
Link's proof of claim and other potential conflicts and claim
objection litigation should the need arise.

For professional services, MS's fees are based on its standard
hourly rates which are periodically adjusted.  MS's hourly rates
for the primary attorneys working on this matter are:

                                        Hourly Rate
                                        -----------
    Partners -- Kenneth M. Misken           $450
    Associates -- Eva Papadimas             $260

Mr. Miken's current standard rate is $465, but has agreed to be
compensated at the hourly rate of $450.

To the best of the Debtor's knowledge, the partners, counsel, and
associates of MS are "disinterested persons," as that term is
defined under Section 101(14) of the Bankruptcy Code.

The Firm's business address is:

            MILES & STOCKBRIDGE P.C.
            Kenneth M. Misken, Esq.
            Principal
            751 Pinnacle Drive, Suite 1500
            Tysons Corner, Virginia 22102-3833

A hearing on the application is currently scheduled for Feb. 10,
2015, at 11:00 a.m. at Judge Mayer's Courtroom, 200 South
Washington Street, 2nd Floor, Courtroom I, Alexandria, VA.

                      About Global Computer

Global Computer Enterprises, Inc., dba GCE, is a cloud-based
"software as a service" provider, commonly referred to as a
"SAAS," offering financial management solutions primarily to
executive departments of the federal government and independent
federal government agencies.  GCE sought protection under Chapter
11 of the Bankruptcy Code (Case No. 14-13290, Bankr. E.D. Va.) on
Sept. 4, 2014.  The case is assigned to Judge Robert G. Mayer.

The Debtor's counsel is David I. Swan, Esq., at McGuirewoods LLP,
in McLean, Virginia.  The Debtor's financial advisor is Weinsweig
Advisors.  The petition was signed by Mike Freeman, interim chief
operating officer.

Judge Mayer designated Mike Freeman to perform duties imposed upon
GCE by the Bankruptcy Code.

The U.S. Trustee for Region 4 appointed three creditors of Global
Computer Enterprises, Inc. to serve on the official committee of
unsecured creditors.  The Committee tapped Armstrong Teasdale LLP,
as its counsel and Leach Travell Britt PC as its local bankruptcy
counsel.


GOLDEN STATE PETROLEUM: Moody's Withdraws Caa1 Rating
-----------------------------------------------------
Moody's withdraws Golden State Petroleum Transport's Caa1 rating on
debt redemption

Moody's Investors Service has withdrawn Golden State Petroleum
Transport Corporation's (Golden State) Caa1 rating following the
redemption of its 8.04% First Preferred Mortgage Notes due 2019.
Effective October 20, 2014, Golden State sold its remaining vessel,
the tanker VLCC (very large crude carrier) Ulriken to an unrelated
third party. The Ulriken had served as collateral for the company's
Notes. As provided by the Indenture governing the Notes, the net
proceeds from the sale, together with other funds held for the
benefit of noteholders, were used to mandatorily redeem all
remaining outstanding notes at par plus accrued and unpaid
interest, 90 days after the sale of the vessel. The redemption date
was January 18, 2015, and the redemption took place on January 19,
2015.

Golden State is a special purpose vehicle established to act as
agent for the issuance of debt to finance the construction,
ownership and delivery in 1998 and 1999 of two double-hulled VLCCs
by two affiliated ship-owning companies. Both tankers were
initially under charter to Chevron Transportation Corporation, a
wholly-owned shipping company operating under the guarantee of
Chevron Corporation (Chevron, Aa1 stable). Golden State's VLCC
Ulysses charter was terminated effective March 15, 2013, with the
vessel sold to an unrelated third party in March 2014. The VLCC
Ulriken charter was terminated effective December 7, 2010. Both
tankers had been trading in the spot market following the
termination of their respective charters. Following the delivery of
the VLCC Ulriken to its buyer, Golden State notes that the vessel
is expected to cease operating in the tanker market.

Ratings Rationale

Golden State's ratings were assigned by evaluating factors that
Moody's considers relevant to the credit profile of the issuer,
such as the company's (i) business risk and competitive position
compared with others within the industry; (ii) capital structure
and financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and tolerance
for risk. Moody's compared these attributes against other issuers
both within and outside Golden State's core industry and believes
Golden State's ratings are comparable to those of other issuers
with similar credit risk.

Outlook Actions:

Issuer: Golden State Petroleum Transport Corporation

  Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

Issuer: Golden State Petroleum Transport Corporation

  Senior Secured First Mortgage Bonds (Local Currency) Withdrawn,
  previously rated Caa1



GREEN BRICK: Hires New Vice President of Finance
------------------------------------------------
Richard A. Costello has joined Green Brick Partners, Inc., as vice
president of Finance to oversee all financial reporting, lending
relationships, audit supervision, cash management, and investor
relations.  

Mr. Costello has over 25 years of financial and operational
experience in all aspects of real estate management.  Since 2007,
Mr. Costello has been a private investor.  From 1991 to 2007, Mr.
Costello worked at GL Homes of Florida, one of the largest private
developers and home builders in Florida.  There he served as chief
financial officer and chief operating officer as well as in other
senior financial management roles.  Prior to joining GL Homes, Mr.
Costello worked for six years as AVP-Finance for Paragon Group, a
regional commercial real estate developer, and four years as an
auditor for KPMG.  Mr. Costello received a B.S. degree in
Accounting from the University of Central Florida and his M.B.A.
from Northwestern University's Kellogg School.

Green Brick's CEO Jim Brickman said, "Rick's broad experience as a
top level financial and operating manager in homebuilding is a
perfect fit for our company."

The initial term of Mr. Costello's employment is three years.  His
annual base salary is $300,000.

                         About Green Brick

Denver, Colo.-based BioFuel Energy Corp., now known as Green Brick
Partners, Inc., is an ethanol producer in the United States.

Biofuel Energy incurred a net loss of $45.6 million in 2013, a
net loss of $46.3 million in 2012 and a net loss of $10.4
million in 2011.

The Company's balance sheet at Sept. 30, 2014, the Company had
$8.83 million in total assets, $2.07 million in total liabilities,
all current, and $6.75 million in total equity.


HERCULES OFFSHORE: Files Fleet Status Report as of Jan. 22
----------------------------------------------------------
Hercules Offshore, Inc., posted on its Web site at
www.herculesoffshore.com a report entitled "Hercules Offshore Fleet
Status Report".  The Fleet Status Report includes the Hercules
Offshore Rig Fleet Status (as of Jan. 22, 2015), which contains
information for each of the Company's drilling rigs, including
contract dayrate and duration.  The Fleet Status Report also
includes the Hercules Offshore Liftboat Fleet Status Report, which
contains information by liftboat class for December 2014, including
revenue per day and operating days.  The Fleet Status Report can be
found under the Investor Relations portion of the Company's Web
site, a copy of which is available for free at:

                        http://is.gd/477R9O

                         Asset Impairments

The Company made the decision to remove the Hercules 120, Hercules
200, Hercules 214, Hercules 251 and Hercules 253 from its
marketable assets into its non-marketable assets as the Company
does not reasonably expect to market these rigs in the foreseeable
future.  The Company expects to record a non-cash impairment charge
of approximately $117 million during the fourth quarter of 2014 to
write the rigs down to fair value based on a third party estimate.

                      About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

Hercules incurred a net loss of $68.11 million in 2013, a net loss
of $127 million in 2012 and a net loss of $76.1 million in 2011.
As of Sept. 30, 2014, the Company had $2.19 billion in total
assets, $1.42 billion in total liabilities and $767 million in
stockholders' equity.

                           *     *     *

The Troubled Company Reporter reported on April 11, 2013, that
Moody's Investors Service upgraded Hercules Offshore, Inc.'s
Corporate Family Rating to B2 from B3.  Hercules' B2 CFR is
supported by its improved cash flow and lower leverage on the back
of increased drilling activity and higher day-rates in the Gulf of
Mexico (GOM)

As reported by the TCR on Dec. 30, 2014, S&P lowered its corporate
credit rating on Hercules Offshore Inc. to 'B-' from 'B'.  The
downgrade reflects S&P's estimate for increased leverage as
a result of lower day-rates and utilization for the company's
offshore rigs, both in the company's Domestic Offshore and
International Offshore segments.  S&P's estimates of lower
utilization and day-rates are a result of S&P's expectation of
decreased offshore drilling given lower oil prices.  S&P now
expects FFO to debt to be below 12% and debt to EBITDA to exceed 5x
in 2015.


HIGHLAND COMMUNITY BANK: United Fidelity Bank Assumes All Deposits
------------------------------------------------------------------
Highland Community Bank, Chicago, Illinois, was closed on January
23, 2015, by the Illinois Department of Financial & Professional
Regulation—Division of Banking, which appointed the Federal
Deposit Insurance Corporation (FDIC) as receiver.

To protect the depositors, the FDIC entered into a purchase and
assumption agreement with United Fidelity Bank, fsb, Evansville,
Indiana, to assume all of the deposits of Highland Community Bank.

The two branches of Highland Community Bank will reopen as branches
of United Fidelity Bank, fsb during their normal business hours.
Depositors of Highland Community Bank will automatically become
depositors of United Fidelity Bank, fsb.  Deposits will continue to
be insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage up to applicable limits.

Customers of Highland Community Bank should continue to use their
existing branch until they receive notice from United Fidelity
Bank, fsb that it has completed systems changes to allow other
United Fidelity Bank, fsb branches to process their accounts as
well.

On the weekend of January 24, depositors of Highland Community Bank
were suppose to have access to their money by writing checks or
using ATM or debit cards. Checks drawn on the bank will continue to
be processed. Loan customers should continue to make their payments
as usual.

As of December 31, 2014, Highland Community Bank had approximately
$54.7 million in total assets and $53.5 million in total deposits.
In addition to assuming all of the deposits of the failed bank,
United Fidelity Bank, fsb agreed to purchase essentially all of the
assets.



HILAND PARTNERS: Moody's Puts 'B'1 CFR on Review for Upgrade
------------------------------------------------------------
Moody's Investors Service placed Hiland Partners, LP's ratings on
review for upgrade, including its B1 Corporate Family Rating (CFR),
B1-PD Probability of Default Rating, and B2 senior unsecured note
rating. The review was initiated after the announcement that Kinder
Morgan Inc. (KMI, Baa3 stable) agreed to purchase Hiland for
approximately $3 billion, including the assumption of the
partnership's approximately $1.0 billion of outstanding debt. The
review period is expected to last approximately 30 days and the
degree of ratings improvement will depend on the level of credit
support KMI provides to Hiland.

"After its acquisition by KMI, Hiland will benefit from its
affiliation with the largest midstream energy company in the US,"
said Stuart Miller, Moody's Vice President and Senior Credit
Officer. "Depending on the level of explicit credit support
provided, Moody's expect the senior unsecured rating to be upgraded
by at least one notch, but possibly five notches if KMI provides an
unconditional guarantee of Hiland's debt."

Ratings Placed on Review for Upgrade:

  Corporate Family Rating of B1 placed under review for upgrade

  Probability of Default Rating of B1-PD placed under review
  for upgrade

  Senior unsecured note rating of B2, LGD4 placed under review
  for upgrade

  Outlook changed from stable to rating under review for upgrade

Ratings Unchanged:

  Speculative Grade Liquidity Rating of SGL-3 is unchanged

Ratings Rationale

Hiland's B1 CFR recognizes the company's first-mover and premier
position in the prolific Bakken Shale as well as its significant
acreage dedication from Continental Resources (Continental, Baa3
stable), the largest acreage holder in the Bakken Shale region.
With the completion of the Double H Pipeline, which provides a
needed outlet for crude production in the core of the Bakken, about
85% of Hiland's cashflow is expected to be fee-based.

The acquisition of Hiland by Kinder provides credit uplift to
Hiland's ratings. Kinder's senior unsecured note rating is Baa3,
five notches higher than Hiland's. Depending on the level of
explicit support, Hiland's unsecured debt rating could be upgraded
to Kinder's level. Without a Kinder guarantee, Hiland's rating will
be based on a fundamental analysis of Hiland's credit with one or
two notches of uplift to acknowledge its ownership by a much larger
and stronger company. Given Kinder's desire to maintain its
investment grade rating, Moody's expects that the Hiland
acquisition will be financed in a manner that is credit neutral at
worst, and possibly credit accretive, for Kinder. The acquisition
is expected to close in the first quarter of 2015. Moody's review
will be completed once the degree of support for Hiland's debt is
made clear.

The principal methodology used in these ratings was Global
Midstream Energy published in December 2010. Other methodologies
used include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.



HILAND PARTNERS: S&P Puts 'B' CCR on CreditWatch Positive
---------------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'B' corporate
credit and senior unsecured ratings on Hiland Partners L.P. on
CreditWatch with positive implications.

"The positive CreditWatch on Hiland and its unsecured notes reflect
our expectation that we will raise the ratings in line with those
of Kinder when the transaction closes, assuming Kinder uarantees
the Hiland debt," said Standard & Poor's credit analyst Mike
Llanos.

The transaction purchase price of $3 billion includes Hiland's $1.3
billion of reported debt that Kinder will assume.  Hiland's EBITDA
is expected to increase year-over-year as it receives nearly a full
year's contribution from the Double H pipeline.  That pipeline will
have an initial capacity of about 84,000 barrels per day (bpd),
with an expansion to about 108,000 bpd in 2016.  The pipeline has
firm take-or-pay contracts for about 60,000 bpd and could attract
further commitments.  Despite weak crude oil prices, S&P expects
the pipeline to operate at full capacity in 2015.

S&P expects to resolve the CreditWatch listing on Hiland when the
proposed transaction closes, currently expected in the first
quarter of 2015.  S&P expects to raise the corporate credit rating
and debt ratings on Hiland to 'BBB-', in line with that of Kinder,
assuming Kinder guarantees the debt.



HIPCRICKET INC: Meeting to Form Creditors' Panel Set for Jan. 30
----------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on Jan. 30, 2015, at 9:00 a.m. in the
bankruptcy case of Hipcricket, Inc..

The meeting will be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 5209
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.  Section 1103 of the
Bankruptcy Code provides that the Committee may consult with the
debtor, investigate the debtor and its business operations and
participate in the formulation of a plan of reorganization.  The
Committee may also perform other services as are in the interests
of the unsecured creditors whom it represents.

                          About Hipcricket

Headquartered in Bellevue, Washington, Hipcricket, Inc., formerly
known as Augme Technologies, is a publicly held Delaware
corporation.  Hipcricket is in the business of providing
end-to-end, data-driven mobile advertising and marketing solutions
through its proprietary AD LIFE software-as-a service platform --
a
proprietary, mobile engagement platform for businesses to
communicate with customers through cellphones, tablets and other
mobile devices.  The Company had 77 full-time employees as of the
bankruptcy filing.

Hipcricket sought Chapter 11 protection (Bankr. D. Del. Case No.
15-10104) on Jan. 20, 2015, with a deal to sell its assets.

The Debtor has tapped Pachulski Stang Ziehl & Jones LLP as
counsel,
Canaccord Genuity Inc. as investment banker, Perkins Coie LLP as
special corporate counsel, and Omni Management Group, LLC, as
claims and noticing agent.

As of Jan. 20, 2015, the Company had total assets of $16.8 million
and liabilities of $12.06 million.



HORIZON VILLAGE: Court Denies Well Fargo's Bid for Limited Stay
---------------------------------------------------------------
The Hon. Mike K. Nakagawa entered an order denying primary creditor
Wells Fargo Bank, N.A.'s motion for limited stay in the Chapter 11
case of Beltway One Development Group, LLC, pending appeal.

On Nov. 26, 2014, Wells Fargo filed the instant stay motion.  On
Dec. 3, an order shortening time was entered scheduling the stay
motion for a hearing on an expedited basis.  On Dec. 5, the Debtor
opposed to the stay motion. On Dec. 8, Wells Fargo filed its
reply.

Wells Fargo stated that it does not seek a stay of all aspects of
the confirmation order dated March 25, 2014, but only to the extent
it would allow the revested Debtor to expend its accumulated cash.


Wells Fargo maintained that the confirmed plan improperly denied
$753,000 in pre-confirmation default interest and that the amounts
allowed under the Sec. 506(b) order must be aggregated for
treatment as part of Wells Fargo's allowed secured claim under the
confirmed plan.

The said that Wells Fargo has not met its burden with respect to
the most important factors for a stay pending appeal, i.e.,
likelihood of success on merits and likelihood of irreparable
injury.  The two remaining factors, i.e., injury to other parties
and the public interest, are either neutral or do not favor
imposition of a stay.

                      About Horizon Village

Four related Las Vegas, Nevada-based entities sought Chapter 11
bankruptcy protection on July 13, 2011.  The businesses are owned
or managed by local business people and firms, including Todd
Nigro, Nigro Development LLC, a Nigro family trust and other
investors.

Horizon Village Square LLC (Bankr. D. Nev. Case No. 11-21034) owns
the Vons-anchored Horizon Village Square Shopping Center near
I-515 and Horizon Drive in Henderson.  The property includes five
retail buildings with nearly 43,000 square feet of space.

Ten Saints LLC (Bankr. D. Nev. Case No. 11-21028) owns the 134-
room Hampton Inn & Suites at St. Rose Parkway and Seven Hills
Drive in Henderson.  The Hon. Mike K. Nakagawa of the U.S.
Bankruptcy Court for the District of Nevada on Nov. 18, 2011,
entered a final decree closing the Chapter 11 case of Ten Saints
LLC.

Beltway One Development Group LLC (Bankr. D. Nev. Case No. 11-
21026) owns the Desert Canyon Business Park at Russell Road and
the Las Vegas Beltway. It has two buildings and 15 acres.

Nigro HQ LLC (Bankr. D. Nev. Case No. 11-21014) owns an office
building at 9115 W. Russell Road occupied by Bank of George,
Infinity Plus LLC and Nigro Construction Inc.

Todd Nigro said the four bankruptcies were caused by threatened
foreclosures -- typically related to Wells Fargo Bank demanding
payments to keep loan-to-value ratios at specified levels.

Judge Mike K. Nakagawa presides over the cases.  Lawyers at Gordon
Silver serve as the Debtors' bankruptcy counsel.  The bankruptcy
petitions estimated assets and debts from $1 million to
$10 million each for Nigro HQ; and from $10 million to $50 million
in both assets and debts for Horizon Village, Ten Saints and
Beltway One.  The cases are not jointly administered.

A fifth related business, Russell Boulder LLC, filed for
bankruptcy (Bankr. D. Nev. Case No. 10-29724) on Oct. 19, 2010.
It owns the 600-suite Siena Suites extended stay property at
Boulder Highway and Russell Road.

Edward M. Zachary, Esq., at Bryan Cave LLP, in Bryan Cave LLP, in
Phoenix, Ariz., and Robert M. Charles, Jr., Esq., at Lewis and
Roca LLP, in Los Vegas, Nev., represent Wells Fargo Bank, N.A., as
counsel.



HOVNANIAN ENTERPRISES: BlackRock Holds 8.1% of Class A Shares
-------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, BlackRock, Inc., reported that as of
Dec. 31, 2014, it beneficially owned 10,562,883 shares of
Class A common stock of Hovnanian Enterprises Inc. representing 8.1
percent of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/s4okEL

                     About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

As of Oct. 31, 2014, the Company had $2.28 billion in total
assets, $2.40 billion in total liabilities and a $117.79 million
in total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

The TCR reported on Jan. 9, 2014, that Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


IMPLANT SCIENCES: Appoints William McGann as CEO
------------------------------------------------
Implant Sciences Corporation has named Dr. William McGann as its
chief executive officer and president effective Jan. 20, 2015.  Dr.
McGann replaces Glenn D. Bolduc, who resigned his position on
Jan. 16, 2015, as CEO and director.  

Dr. McGann has served as the chief operating officer of the Company
since 2012 and also serves as a director.  Dr. McGann's current
base annual salary is $270,000.  The terms of Dr. McGann's
employment agreement remain unchanged.

"Implant Sciences is a leader in developing innovative
capabilities, tools and solutions to counter the evolving terrorism
threats and help law enforcement curb drugs and narcotics.  Implant
Sciences has built a world-class team and foundation of technology
and capabilities that enabled the company's B220 device to achieve
TSA approval and a purchase contract.  Based on these
accomplishments, we look forward to pursuing the continued
expansion of our sales into new markets across the United States
and internationally," stated Dr. McGann.

In connection with and prior to Mr. Bolduc's resignation, Mr.
Bolduc entered into a Separation Agreement and Release with the
Company.  The Separation Agreement provides that Mr. Bolduc's
resignation will be deemed an involuntary termination without cause
pursuant to his Amended and Restated Employment Agreement dated as
of June 25, 2013.  In this regard, and subject to the terms
contained in the Employment Agreement, Mr. Bolduc is entitled to
receive: (i) annual base salary for 18 months on a regular payroll
basis; (ii) a pro rata portion of any bonus earned in 2015; (iii)
continuation of coverage under and contributions to health care,
dental and life insurance benefits for a 12 month period; and (iv)
transfer of any key man life insurance.  

                      About Implant Sciences

Implant Sciences Corporation (OBB: IMSC.OB) --
http://www.implantsciences.com/-- develops, manufactures and
sells sensors and systems for the security, safety and defense
(SS&D) industries.

For the fiscal year ended June 30, 2014, the Company reported a
net loss of $21.01 million on $8.55 million of revenues compared
to a net loss of $27.35 million on $12.01 million of revenues
during the prior fiscal year.

As of Sept. 30, 2014, the Company had $5.60 million in total
assets, $70.9 million in total liabilities and a $65.3 million
total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2014.  The independent auditors noted that
the Company has had recurring net losses and continues to
experience negative cash flows from operations.  As of Sept. 23,
2014, the Company's principal obligation to its primary lenders
was approximately $53,437,000 and accrued interest of
approximately $10,163,000.  The Company is required to repay all
borrowings and accrued interest to these lenders on March 31,
2015.  These conditions raise substantial doubt about its ability
to continue as a going concern.

                         Bankruptcy Warning

"Our ability to comply with our debt covenants in the future
depends on our ability to generate sufficient sales and to control
expenses, and will require that we seek additional capital through
private financing sources.  There can be no assurances that we
will achieve our forecasted financial results or that we will be
able to raise additional capital to operate our business.  Any
such failure would have a material adverse impact on our liquidity
and financial condition and could force us to curtail or
discontinue operations entirely.  Further, upon the occurrence of
an event of default under certain provisions of our credit
agreements, we could be required to pay default rate interest
equal to the lesser of 2.5% per month and the maximum applicable
legal rate per annum on the outstanding principal balance
outstanding.  The failure to refinance or otherwise negotiate
further extensions of our obligations to our secured lenders would
have a material adverse impact on our liquidity and financial
condition and could force us to curtail or discontinue operations
entirely and/or file for protection under bankruptcy laws," the
Company stated in its quarterly report for the period ended
Sept. 30, 2014.


INFINITY AUGMENTED: Needs Additional Funds for Operations
---------------------------------------------------------
Infinity Augmented Reality, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $1.47 million on $nil of
total revenue for the quarter ended Nov. 30, 2014, compared with
a net loss of $1.2 million on $nil of total revenue for the
same period in 2013.

The Company's balance sheet at Nov. 30, 2014, showed $1.34
million in total assets, $4.15 million in total liabilities, and
a stockholders' deficit of $2.81 million.

Infinity Augmented Reality will require additional funds to
finance operations.  The Company is dependent upon the expected
demand for software platform and ability to generate sufficient
cash from its business to meet obligations as they come due.  
These conditions raise substantial doubt about our ability to
continue as a going concern.

A copy of the Form 10-Q is available at:

                        http://is.gd/bSZcR3

Infinity Augmented Reality, Inc. (formerly known as Absolute Life
Solutions, Inc.) was originally incorporated as Shimmer Gold,
Inc., in the State of Nevada on Sept. 7, 2006, and was in the
business of the acquisition and exploration of mineral resources.

Effective Nov. 15, 2012, the Company is no longer engaged in its
prior primary activity as a specialty financial services company
primarily engaged in the purchase of life settlement contracts.
As a result, the Company is currently classified as a development
stage company.  All of the operations related to the Company's
life settlements business are reported as discontinued operations
in the condensed consolidated financial statements.


INFINITY ENERGY: RBSM LLP Assumes Auditing Role
-----------------------------------------------
The Audit Committee of the Board of Directors of Infinity Energy
Resources appointed RBSM, LLP, to be the Company's independent
registered public accountant for the fiscal year ending Dec. 31,
2014, according to a regulatory filing with the U.S. Securities and
Exchange Commission.

During the two most recent completed fiscal years and through
Jan. 21, 2015, neither the Company nor anyone on its behalf
consulted with RBSM, LLP.

Infinity Energy was notified that L.L. Bradford & Company, LLC, had
entered into an agreement under which it merged with RBSM, LLP.  In
connection with that agreement the parties decided that RBSM, LLP,
will perform services for all clients of L.L. Bradford & Company,
LLC, who are reporting companies with the Securities and Exchange
Commission.  Thus, pursuant to this agreement, the Company's
financial statements will be audited by RBSM, LLP, and no longer by
L.L. Bradford & Company, LLC.

The reports provided by L.L. Bradford & Company, LLC, in connection
with the Company's financial statements for the fiscal year-ended
Dec. 31, 2013, did not contain an adverse opinion or disclaimer of
opinion, nor was the report qualified or modified as to
uncertainty, audit scope, or accounting principles, except that
L.L. Bradford & Company, LLC's report contained an explanatory
paragraph regarding substantial doubt about the Company's ability
to continue as a going concern.

                      About Infinity Energy

Overland Park, Kansas-based Infinity Energy Resources and its
subsidiaries, are engaged in the acquisition and exploration of oil
and gas properties offshore Nicaragua in the Caribbean Sea.

Infinity Energy reported a net loss applicable to common
shareholders of $5.58 million for the year ended Dec. 31, 2013,
compared to net income applicable to common shareholders of
$895,000 for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $10.5 million in assets, $11.7
million in liabilities, $1.65 million in redeemable, convertible
preferred stock, and a $2.87 million stockholders' deficit.

L.L. Bradford & Company, in Leawood, Kansas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses, has no on-going
operations, and has a significant working capital deficit, which
raises substantial doubt about its ability to continue as a going
concern.


ISTAR FINANCIAL: Obtains Favorable Order in "U.S. Home" Suit
------------------------------------------------------------
The United States District Court for the District of Maryland
entered a judgment in favor of iStar Financial Inc. in the matter
of U.S. Home Corporation v. Settlers Crossing, LLC, et al. (Civil
Action No. DKC 08-1863).  The litigation involved a dispute over
the purchase and sale of approximately 1,250 acres of land in
Prince George's County, Maryland.  

According to a regulatory filing with the U.S. Securities and
Exchange Commission, the Court found that iStar was entitled to
specific performance and awarded damages to iStar in the aggregate
amount of:

    (i) the remaining purchase price to be paid by Lennar of
        $114 million; plus

   (ii) interest on the unpaid amount at a rate of 12% per annum,
        calculated on a per diem basis, from May 27, 2008, until
        Lennar proceeds to settlement on the land; plus

  (iii) real estate taxes paid by iStar in the amount of
        approximately $1.6 million; plus  

   (iv) actual and reasonable attorneys' fees and costs incurred
        by iStar in connection with the litigation.  

The Court ordered Lennar to proceed to settlement on the land and
to pay the total amounts awarded to iStar within 30 days of the
judgment.  A third party is entitled to a 15% participation
interest in proceeds from the disposition of the land.  Lennar may
appeal the Court's decision.  There can be no assurance as to the
timing or actual receipt by iStar of amounts awarded by the Court
or to the outcome of any appeal.

                        About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

iStar Financial incurred a net loss allocable to common
shareholders of $156 million in 2013, a net loss allocable to
common shareholders of $273 million in 2012, and a net loss
allocable to common shareholders of $62.38 million in 2011.

As of Sept. 30, 2014, the Company had $5.48 billion in total
assets, $4.20 billion in total liabilities, $11.4 million in
redeemable noncontrolling interests, and $1.26 billion in total
equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


KEMPER CORP: Fitch Affirms 'BB' Ratings on Subordinated Notes
-------------------------------------------------------------
Fitch Ratings has affirmed Kemper Corporation's holding company
ratings, including the senior debt rating at 'BBB-'. Fitch has also
affirmed the Insurer Financial Strength (IFS) ratings of Kemper's
operating subsidiaries at 'A-'. The Rating Outlook is Stable.

KEY RATING DRIVERS

Kemper's ratings reflect modest earnings, solid balance sheet
strength, and sufficient debt servicing capability. The ratings
also consider the company's more volatile earnings profile caused
by natural catastrophe exposures.

Kemper reported net earnings of $49.1 million for the first
nine-months of 2014, down from $162.5 in the prior year period.
Results include a $54.6 million write-off related to software that
was being developed for internal use. Weaker results were also
primarily driven by higher catastrophe losses and expense pressure
from a lower premium base, including the impact of the
direct-to-consumer business runoff.

For the first nine months of 2014, Kemper's property/casualty
calendar-year combined ratio included above-average catastrophe
losses of $92.1 million. Kemper reported a nine-month combined
ratio in 2014 of 106.9%. Excluding the software write-off, the
ratio was 101.1% and included 9.7pp of catastrophe losses and 4.8pp
of favorable reserve development. This compares with a 97.2%
combined ratio for the prior-year period, which includes 4.3pp of
catastrophe losses and 4.1pp of favorable reserve development.

Kemper's Life/Health segment continues to generate stable earnings
with minimal volatility. The segment reported a modest decrease in
operating profit to $58 million for nine-months 2014, down from $64
million in the prior year. The decrease was largely due a modest
drop in net investment income.

Kemper announced in December of 2014 that it had reached an
agreement to acquire the Alliance United Group, a writer of
non-standard auto insurance in California, and its subsidiaries for
$70 million in cash. The deal is expected to close in the first
half of 2015, after which Kemper expects to contribute up to an
additional $75 million to support the book of business. Alliance
United's net premiums written in 2013 were approximately 11% of
Kemper's property/casualty net premiums written. Alliance has
reported recent significant growth in premiums with nearly 47%
annual growth between 2011 and 2013, which Fitch considers a credit
negative. Rapid growth can often be accompanied by declines in
underwriting quality or pricing and is viewed more cautiously.

Fitch views Kemper's p/c and life companies as strongly
capitalized. Estimated NAIC risk-based capital ratios were 340% and
450% of the company action level at Sept. 30, 2014, respectively.
Net premiums written-to-surplus for Kemper's property/casualty
operations remains acceptable for its line of business at
approximately 1.4x. Kemper's financial leverage ratio remains in
line with median guidelines at 28.8% as of Sept. 30, 2014.

Kemper's fixed-charge coverage was modest at 2.7x through three
quarters 2014. Debt-servicing capacity is further supported by
dividend capacity from its insurance subsidiaries and holding
company cash and short term investments of $302 million, which
could be used for general corporate purposes or the retirement of
debt maturities in November 2015.

RATING SENSITIVITIES

Factors that could lead to a downgrade include:

-- Statutory fixed charge coverage below 3.5x;
-- A combined ratio above 106% for a sustained period;
-- Deterioration in capitalization with a p/c Prism capital model

    score below 'adequate' (based on year-end 2013 data Kemper's
Prism
    score was 'Strong');
-- RBC ratio for the p/c and life insurance entities below 200%
and 250%,
    respectively;
-- Financial leverage ratio that exceeds 30%.

Factors that could lead to an upgrade include:

  -- Maintaining a Prism score of 'strong';
  -- Sustained underwriting profit;
  -- GAAP fixed charge coverage at or above 7x.

Fitch has affirmed the following ratings with a Stable Outlook:

Kemper

-- IDR at 'BBB';
-- $610 million senior notes at 'BBB-';
-- $225 million credit facility at 'BBB-'.
-- $150 million subordinated notes at 'BB'.

Trinity Universal Insurance Co.
United Insurance Co. of America
Union National Life Insurance Co.
Reliable Life Insurance Co.

-- Insurer Financial Strength rating at 'A-'.


KERSHAWHEALTH: S&P Lowers Rating on $19.6MM Revenue Bonds to 'BB'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
long-term rating two notches to 'BB' from 'BBB-' on the South
Carolina Jobs Economic Development Authority's $19.6 million series
2008 hospital revenue bonds issued for KershawHealth.  The outlook
is stable.

"The lower rating reflects both the application of Standard &
Poor's 'U.S. Not-For-Profit Acute-Care Stand-Alone Hospitals'
criteria published on Dec. 15, 2014," said Standard & Poor's credit
analyst Stephen Infranco, "coupled with KershawHealth's continued
weak and below-budget operating performance over the past three
years, including the violation of a debt service coverage covenant
requirement in fiscal 2013."  Furthermore, the continued operating
deficit in fiscal 2014 (unaudited) resulted in another year of weak
coverage of maximum annual debt service (MADS) at 1.2x, according
to Standard & Poor's calculation.

"Declining volumes due to physician turnover, coupled with changes
in treatment patterns and increasing observation status, have had a
negative effect on operating performance," said Mr. Infranco.

S&P assessed KershawHealth's enterprise profile as vulnerable,
characterized by very weak economic fundamentals in a limited
service area with declining business volume and at risk market
share.  S&P assessed its financial profile as adequate, with very
weak financial performance offset by solid liquidity and financial
flexibility.

"Also contributing to the rating decision is KershawHealth's
limited revenue base and status as a small hospital under Standard
& Poor's definition, with net patient revenue below $125 million,"
said Mr. Infranco.  Combined, S&P thinks these credit factors lead
to an indicative rating level of 'bb-'.  As S&P's criteria
indicate, the final rating can be within one notch of the
indicative credit level.  In S&P's view, the 'BB' rating on the
hospital's bonds better reflects the pending long-term lease/asset
sale to Capella Healthcare of Franklin, Tenn. (Capella) and the
Medical University of South Carolina (MUSC).  S&P believes the
benefits of becoming part of a larger health care entity with
greater size and scale should bode well for KershawHealth over the
longer term.

"The stable outlook is supported by KershawHealth's healthy
balance-sheet metrics for the rating level, including ample
liquidity and low leverage," added Mr. Infranco.  This gives
Kershaw some cushion at the 'BB' rating to implement cost-saving
initiatives and consultant recommendations to improve operating
results.  In addition, S&P considers the signing of the letter of
intent and the status of the negotiations, while still not
finalized, a positive credit event and a stabilizing factor.



LIGHTSQUARED INC: Confirmation Hearing Set for March 29
-------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York will hold hearing on March 29, 2015,
at 10:00 a.m. (prevailing Eastern time) to consider confirmation of
the second amended joint plan filed by Lightsquared Inc. and its
debtor-affiliates together with Fortress Credit Opportunities
Advisor LLC, Harbinger Capital Partners LLC, and Centerbridge
Partners LP.

Judge Chapman set Feb. 9, 2015, at 4:00 p.m. (prevailing Eastern
time) as deadline for creditors to vote to accept or reject the
plan.  All ballots must be submitted either at:

   a) first class mail, overnight courier, or personal delivery
      to:

      Lightsquared Ballot Processing
      c/o Kurztman Carson Consultants LLC
      2335 Alaska Avenue
      El Segundo, CA 90245;
      

   b) email to lightsquaredballots@kccllc.com, or
  
   c) facsimile to (310) 776-8479

Objections to the plan must be filed no later than Feb. 29, 2015,
at 11:59 a.m. (prevailing Eastern time).

                     About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with liquidity
and runway necessary to resolve its issues with the FCC.

Despite working diligently and in good faith, however, LightSquared
and the lenders were not able to consummate a global restructuring
on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the financial
advisor.  Kurtzman Carson Consultants LLC serves as claims and
notice agent.


MATAGORDA ISLAND: Jan. 27 Hearing on Bid for Case Conversion
------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on Jan. 27, 2015,
at 10:00 a.m., to consider the motion to convert the Chapter 11
case of Matagorda Island Gas Operations, LLC, to one under Chapter
7 of the Bankruptcy Code; or in the alternative, dismiss the case.

As reported in the Troubled Company Reporter on Jan. 14, 2015, the
Debtor opposed to the U.S. Trustee's motion for
conversion/dismissal, stating that there is no mandatory cause for
dismissal or conversion insofar as the current lack of insurance
poses no credible risk to the estate or to the public at this
time.

Additionally, the Debtor pointed out that it has and continues to
attempt to comply with the order to the debtor in possession and to
obtain the necessary insurance and believes that such insurance can
be put in place prior to the existence of any actual risk to the
estate or public.

Shamrock Energy Solutions, LLC, supports the U.S. Trustee's motion,
but said it believes that it would be in the best interest of all
creditors if the case were converted to a Chapter 7 and not
dismissed.

In its motion for conversion or dismissal, the U.S. Trustee said it
has repeatedly asked the Debtor to obtain and provide proof of
insurance as required by the order to the Debtor starting with the
initial Debtor interview on Sept. 24, 2014, and continuing at the
341 Meetings on Oct. 7, and Nov. 4.  In addition, the attorney and
the analyst for the U.S. Trustee have contacted Debtor's counsel
several times requesting proof of insurance.  According to the U.S.
Trustee, to date, the Debtor has not provided proof to that (1) the
Debtor has general liability insurance and (2) all assets are
covered by property insurance.

                     About Matagorda Island

Matagorda Island Gas Operations, LLC, filed a Chapter 11
bankruptcy petition (Bankr. W.D. La. Case No. 14-51099) in
Lafayette, Louisiana, on Sept. 3, 2014. The case is
assigned to Judge Robert Summerhays.  The Debtor has tapped
Lugenbuhl, Wheaton, Peck, Rankin & Hubbard as counsel.
The Debtor disclosed $891 million in assets and $26.1 million in
liabilities as of the Chapter 11 filing.



MATT'S TEX MEX: Files for Chapter 11, Closes Two Locations
----------------------------------------------------------
Affiliates Matt's Tex Mex Roanoke, LLC (Bankr. E.D. Tex. 15-40113)
and Joaquin & Marco, Inc. (Bankr. E.D. Tex. 15-40114) filed
separate Chapter 11 bankruptcy petitions on Jan. 19, 2015.  The
petition was signed by Matt G. Martinez III, president.

Roanoke, Texas-based Matt's Tex Mex Roanoke estimated its assets at
between $500,000 and $1 million and liabilities at between $1
million and $10 million.  Dallas, Texas-based Joaquin & Marco
estimated its assets at between $500,000 and $1 million and
liabilities at between $1 million and $10 million.  

Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC,
serves as the Debtors' bankruptcy counsel.

Karen Robinson-Jacobs at Biz Beat Blog reports that sagging sales
at two locations and a protracted construction project weighed on
Joaquin & Marco's finances.

According to a statement by Matt's Rancho Martinez, it is closing
its Colleyville and Cedar Hill locations, but its location at the
Lakewood, Garland, and Roanoke are "still operating and healthy."
Citing Joaquin & Marco director of operations Michael Frank, Biz
Beat Blog relates that about 100 employees were displaced, with
some of them moved to the three remaining locations.

Mr. Frank, according to Biz Beat Blog, said that the closed
branches "were not financially viable, they were losing money and
were a burden on the company" and that they "running a deficit at
both of those locations."

Matt's Rancho Martinez said in a statement, "We are taking actions
to re-group, re-organize, re-structure and take a close, hard look
internally to resolve issues that determine whether we are a
sustainable business."

Joaquin & Marco, Inc., operates Tex-Mex restaurant Matt's Rancho
Martinez -- http://www.mattstexmex.com/.


MEDIACOM COMMUNICATIONS: Moody's Hikes Corp. Family Rating to Ba3
-----------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating
(CFR) of Mediacom Communications Corporation (Mediacom) to Ba3 from
B1 and its Probability of Default Rating to Ba3-PD from B1-PD.
Moody's also upgraded the instrument ratings for its wholly owned
operating subsidiaries, Mediacom LLC and Mediacom Broadband LLC, as
shown. Moody's changed the outlook for Mediacom, Mediacom Broadband
LLC, and Mediacom LLC to stable from positive.

Mediacom Communications Corporation

  Corporate Family Rating, Upgraded to Ba3 from B1

  Probability of Default Rating, Upgraded to Ba3-PD from B1-PD

  Speculative Grade Liquidity Rating, Affirmed SGL-2

  Outlook, Changed To Stable From Positive

Mediacom Broadband LLC

  Senior Secured Bank Credit Facility, Upgraded to Ba2, LGD3
  from Ba3, LGD3

  Senior Unsecured Bonds, Upgraded to B2, LGD6 from B3, LGD6

  Outlook, Changed To Stable From Positive

Mediacom LLC

  Senior Secured Bank Credit Facility, Upgraded to Ba2, LGD3
  from Ba3, LGD3

  Senior Unsecured Bonds, Upgraded to B2, LGD6 from B3, LGD6

  Outlook, Changed To Stable From Positive

Ratings Rationale

The CFR upgrade incorporates expectations for Mediacom's leverage
to fall below 5 times debt-to-EBITDA during 2015, driven by
continued repayment of debt with free cash flow and modest EBITDA
growth. Mediacom lowered leverage to approximately 5.1 times (based
on the trailing twelve months through September 30 results and pro
forma for the repayment of the Mediacom LLC Term Loan C at the end
of 2014) from 5.5 times at the end of 2013 and approximately 6.7
times since its leveraging go-private transaction in 2011. Since
that event, Mediacom has repaid approximately $450 million of
debt.

High leverage of approximately 5.1 times debt-to-EBITDA poses risk
for a company operating in a competitive industry with modest
growth prospects, which drives Mediacom's Ba3 CFR. The company's
track record of good free cash flow and debt reduction, expected to
continue, supports the rating, and evidence of commitment to
maintain leverage below 5 times will be critical to sustaining the
Ba3 CFR. Moody's expects Mediacom's revenue and EBITDA per homes
passed to remain below the rated industry average, but views the
stability of the business favorably. The more benign competitive
environment than many rated cable peers creates potential for
continued growth in high speed data subscribers and the commercial
business, though Mediacom continues to lose video subscribers.

The stable outlook assumes Mediacom will continue to grow EBITDA in
the low single digit range and use free cash flow to repay debt
such that the company sustains leverage below 5 times
debt-to-EBITDA. If video subscriber losses accelerate or if growth
in its high speed data penetration ceases, the leverage and free
cash flow targets necessary to sustain a Ba3 rating would likely
change.

Moody's would likely take a negative rating action with
expectations for leverage sustained above 5 times debt-to-EBITDA
whether due to lack of EBITDA growth or a change in fiscal policy.
A material weakening of operating performance due to either
escalating competitive pressure or technological changes, or
deterioration of the liquidity profile could pressure the rating
down.

An upgrade would require a commitment to maintaining a stronger
credit profile including leverage below 3.5 times debt-to-EBITDA
and free cash flow-to-debt in excess of 10%, along with maintenance
of a good liquidity profile. An upgrade would also require
operating metrics such as revenue per homes passed and product
penetration more in line with rated peers.

The principal methodology used in these ratings was Global Pay
Television - Cable and Direct-to-Home Satellite Operators published
in April 2013. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

With its headquarters in Mediacom Park, New York, Mediacom
Communications Corporation offers traditional and advanced video
services such as digital television, video-on-demand, digital video
recorders, and high-definition television, as well as high-speed
Internet access and phone service. The company had approximately
890 thousand video subscribers, 997 thousand high speed data
subscribers, and 392 thousand phone subscribers as of September 30,
2014, and primarily serves smaller cities in the midwestern and
southern United States. It operates through two wholly owned
subsidiaries, Mediacom Broadband LLC and Mediacom LLC, and its
annual revenue is approximately $1.6 billion.


MENDOCINO COAST: S&P Affirms 'CCC' Rating on Gen. Obligation Debt
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'CCC' long-term
rating and underlying rating (SPUR) on Mendocino Coast Health Care
District, Calif.'s general obligation debt and removed the ratings
from CreditWatch with negative implications.  The outlook is
stable.

"The 'CCC' ratings reflect our view that timely and full payments
on these obligations are vulnerable and dependent upon favorable
business, financial, and economic conditions," said Standard &
Poor's credit analyst Jen Hansen.  "However, we anticipate that the
district will maintain credit conditions consistent with the rating
level."

Although the district hopes to be out of bankruptcy by the
beginning of February, the district has self-reported a Stark Law
violation with a potential $11 million negative impact.  The
results and timing of the resolution of this violation could delay
bankruptcy negotiations and severely impact the district's
finances.

The district was admitted to bankruptcy protection under Chapter 9
of the U.S. Bankruptcy Code.  Management reports that the district
has not missed a bond payment and projects that bondholders will
continue to be paid.



MERCATOR MINERALS: Starcore Acquires Creston Moly from Trustee
--------------------------------------------------------------
Starcore International Mines Ltd. on Jan. 23 disclosed that it has
entered into an agreement to acquire all of the shares of Creston
Moly Corp. from Deloitte Restructuring Inc, in its capacity as
trustee in bankruptcy of Mercator Minerals Ltd., at a purchase
price of Cdn$2 million.

The Transaction is subject to Creston being discharged from
bankruptcy, clearing the way for Starcore to complete the
Transaction and to continue with the development and further
exploration of Creston's properties, free and clear from Creston's
liabilities as at the date of bankruptcy.  Creston Moly is a
British Columbia company that owns, through its subsidiaries, a
100% interest in three molybdenum-copper projects in Mexico,
British Columbia and Newfoundland.

Background

All technical and non-technical information pertaining to Creston
and Mercator included in the news release has been obtained from
the SEDAR filings of those companies.

In June, 2011, Mercator Minerals Ltd., a TSX listed company,
acquired Creston Moly in a cash and shares deal valuing Creston
Moly at approximately Cdn$194 million.  At that time, the Board of
Directors of Creston Moly, after receiving the recommendation of
its special committee and consultation with its financial and legal
advisors, unanimously supported the arrangement whereby Mercator
would acquire all of the issued and outstanding common shares of
Creston.  BMO Capital Markets, financial advisor to Creston Moly
and its Board, provided a fairness opinion to the effect that the
consideration (of $194 million) was fair, from a financial point of
view, to the shareholders of Creston Moly. Creston shareholders
voted in favor of the transaction.  The most significant asset in
this acquisition was the El Creston project in Sonora, Mexico which
has been advanced to a completed Preliminary Economic Assessment.

On September 5, 2014, pursuant to the Bankruptcy and Insolvency Act
(Canada), Mercator and Creston Moly were deemed to have filed
assignments in bankruptcy.

Creston Moly is a British Columbia company that owns, through its
subsidiaries, a 100% interest in the following properties:

--  The El Creston Project in Sonora, Mexico;
--  The Ajax Project in British Columbia; and
--  The Molybrook Project in Newfoundland.

To view the accompanying chart, visit the following link:
http://media3.marketwire.com/docs/CrestonMolyProperties_Chart.jpg

El Creston Project, Sonora, Mexico:(2) The El Creston molybdenum
property is located in the State of Sonora, Mexico, 175 kilometers
south of the US Border and 145 kilometers northeast of the city of
Hermosillo.  In 2010, a PEA was prepared on the project by an
independent consulting firm.  The result of this study indicated
that the El Creston molybdenum-copper deposit had a US$561.9
million net present value after tax (using an 8% discount rate).
The internal rate of return (after tax) was calculated to be 22.3%
and a capital cost payback was calculated to be four years.

Other highlights of the report include:

  --  Large moly-copper deposit in a mining-friendly jurisdiction.
Total Measured and Indicated Resources of 215 million tonnes
grading 0.071% Mo and 0.06% Cu, containing 336 Mlbs Mo and 281 Mlbs
Cu.  Mineral resources that are not mineral reserves do not have
demonstrated economic viability;

--  Initial Capital cost: US$655.9 million with payback of 4
years, based on metal prices of $15/lb Mo and $2.60/lb Cu.  Metal
recoveries were estimated at 88% for Mo and 84% for Cu;

--  Low Operating Cost: operating cost of $US4.12/lb Mo, net of
copper credits, 0.84:1 waste to ore strip ratio within an optimized
pit containing an additional 7.6 million tonnes of Inferred
Resources responsible for $20M of the NPV;

--  Excellent infrastructure: Road accessible with a 230kV power
grid within 50 km;

--  Apart from the PEA, recommendations have been made to test
known mineralization below the current pit-limiting "Creston Fault"
where results such as drill hole EC08-54 returned 241.4m at 0.083%
Mo and 0.059% Cu to a depth of 495m in the Red Hill Deep zone.

David Gunning, P.Eng., a director of the Company and Chief
Operating Officer, is the Company's qualified person under NI
43-101, and has reviewed and approved the scientific and technical
disclosure on the El Creston Project disclosed in this news
release.

Ajax, British Columbia:(3)

Ajax Molybdenum Property is comprised of 11,718 hectares and is
located 13 km north of Alice Arm, British Columbia.  The Ajax
Property, one of North America's largest undeveloped molybdenum
deposits occupying a surface area of approximately 600 by 650
metres, is a world class primary molybdenum property in the
advanced stage of exploration.

Molybrook, Newfoundland(4)

Creston's Molybrook molybdenum property located on the south coast
of Newfoundland is centred 2.5 km from the outport of Grey River
less than 4 kilometres from a deep water, ice free navigable fjord.
The property hosts a 3 km long trend in which at least three zones
of at surface molybdenum mineralization occur: Molybrook, Wolf and
Chimney Pond.  To date, almost all exploration has been completed
on the Molybrook Zone where a large porphyry molybdenum deposit has
been outlined.

"We have taken the opportunity to acquire an undervalued project in
Creston Moly, which comes with a Preliminary Economic Assessment on
El Creston, along with two other high quality projects in Canada"
said Robert Eadie, President & CEO of Starcore.  "Despite the
current state of moly and copper prices, we are looking at an asset
that was acquired for $194 million over three years ago.  We
believe that the outlook for moly and copper will undoubtedly
improve in the future, possibly making this a tremendous asset
acquisition!"

Advisors:

Deloitte Corporate Finance Inc. acted as financial advisor and
Gowling Lafleur Henderson LLP acted as legal advisor to the
Trustee.  McMillan LLP acted as legal advisor to Starcore.

                        About Starcore

Starcore is engaged in exploring, extracting and processing gold
and silver through its wholly-owned subsidiary, Compania Minera
Pena de Bernal, S.A. de C.V., which owns the San Martin mine in
Queretaro, Mexico.  The Company is a public reporting issuer on the
Toronto Stock Exchange.  The Company is also engaged in owning,
acquiring, exploiting, exploring and evaluating mineral properties,
and either joint venturing or developing these properties further.
The Company has interests in properties located in Mexico, Canada
and the United States.

                 About Mercator Minerals Ltd.

Mercator Minerals Ltd., a TSX listed base metals mining company,
operates the wholly-owned copper/molybdenum/silver Mineral Park
Mine in Arizona, USA.  Mercator also wholly-owns two development
projects in Sonora, Mexico: the copper heap leach El Pilar project
and the molybdenum/copper El Creston project.


MERRIMACK PHARMACEUTICALS: Chief Scientific Officer Resigns
-----------------------------------------------------------
Ulrik B. Nielsen provided notice of his resignation as senior vice
president and chief scientific officer of Merrimack
Pharmaceuticals, Inc., effective as of Jan. 30, 2015, according to
a regulatory filing with the U.S. Securities and Exchange
Commission.

Anthony J. Sinskey also provided notice of his resignation from the
Company's Board of Directors, effective as of Jan. 30, 2015.  Dr.
Sinskey will continue to serve the Company as a scientific
advisor.

On Jan. 20, 2015, the Board elected Dr. Nielsen as a director of
the Company, effective as of Jan. 30, 2015, to fill the vacancy
created by the resignation of Dr. Sinskey.

                          About Merrimack

Cambridge, Mass.-based Merrimack Pharmaceuticals, Inc., a
biopharmaceutical company discovering, developing and preparing to
commercialize innovative medicines consisting of novel
therapeutics paired with companion diagnostics.  The Company's
initial focus is in the field of oncology.  The Company has five
programs in clinical development.  In it most advanced program,
the Company is conducting a pivotal Phase 3 clinical trial.

Merrimack reported a net loss of $130.7 million in 2013, a net
loss of $91.8 million in 2012 and a net loss of $79.7 million in
2011.

The Company's balance sheet at Sept. 30, 2014, showed $189
million in total assets, $288 million in total liabilities,
$150,000 in non-controlling interest and a $99.7 million total
stockholders' deficit.


METALICO INC: Adam Weitsman Reports 9.5% Equity Stake as of Jan. 16
-------------------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, Adam Weitsman disclosed that as of Jan. 16, 2015, he
beneficially owned 5,562,637 shares of common stock of Metalico,
Inc., representing 9.54 percent of the shares outstanding.  The
Shares were purchased in open market transactions using personal
funds of Mr. Weitsman.  The aggregate purchase price of the Shares
was $2,593,912.  A copy  of the regulatory filing is available at:

                        http://is.gd/pm3sJF

                           About Metalico

Metalico, Inc., is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $34.8
million in 2013 following a net loss attributable to the Company
of $13.1 million in 2012.  Metalico incurred a net loss
attributable to the Company of $3.61 million for the six months
ended June 30, 2014.

As of Sept. 30, 2014, the Company had $294.46 million in total
assets, $156.95 million in total liabilities and $137.51 million
in total equity.


METALICO INC: Weitsman Reports 9.95% Stake as of Jan. 21
--------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Adam Weitsman reported that as of Jan. 21,
2015, he beneficially owned 5,803,136 shares of common stock of
Metalico, Inc., representing 9.95 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/x0zNxA

                           About Metalico

Metalico, Inc., is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $34.8
million in 2013 following a net loss attributable to the Company
of $13.1 million in 2012.  Metalico incurred a net loss
attributable to the Company of $3.61 million for the six months
ended June 30, 2014.

As of Sept. 30, 2014, the Company had $294.46 million in total
assets, $156.95 million in total liabilities and $137.51 million
in total equity.


MILLENIUM HEALTHCARE: Reports $3.85-Mil. Net Loss in Q3 of 2014
---------------------------------------------------------------
Millennium Healthcare Inc. filed its quarterly report on
Form 10-Q, reporting a net loss of $3.85 million on $6.37 million
of total revenue for the quarter ended Sept. 30, 2014, compared
with a net loss of $4.28 million on $489,000 of total revenue for
the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $10.2 million
in total assets, $14.84 million in total liabilities, and
a stockholders' deficit of $4.64 million.

The Company has incurred operating losses for the past several
years, has a working capital deficiency of $4.86 million and a
stockholders' deficit of $4.64 million as of Sept. 30, 2014.  These
conditions, among others, raise substantial doubt about the
Company's ability to continue as a going concern.

A copy of the Form 10-Q is available at:

                        http://is.gd/gayNgW

New York-based Millennium Healthcare Inc. is a supplier and
distributor of medical devices and equipment focused on prevention
and early detection of diseases.  The Company recently entered
into several distribution agreements to launch its medical
equipment and device business.



MOHEGAN TRIBAL: Bank Debt Trades at 3% Off
------------------------------------------
Participations in a syndicated loan under which Mohegan Tribal
Gaming is a borrower traded in the secondary market at 96.55
cents-on-the-dollar during the week ended Friday, January 23, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.58 percentage points from the previous week, The Journal relates.
Mohegan Tribal Gaming pays 450 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 31, 2019, and
carries Moody's B2 rating and Standard & Poor's B- rating.  The
loan is one of the biggest gainers and losers among 212 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



MULTIPLAN INC: Bank Debt Trades at 3% Off
-----------------------------------------
Participations in a syndicated loan under which MultiPlan Inc. is
a borrower traded in the secondary market at 97.27 cents-on-the-
dollar during the week ended Friday, Jan. 23 , 2015 according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.47
percentage points from the previous week, The Journal relates.
MultiPlan Inc. pays 300 basis points above LIBOR to borrow under
the facility.  The bank loan matures on March 14, 2021, and
carries Moody's B1 rating and Standard & Poor's B rating.  The
loan is one of the biggest gainers and losers among 212 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.



NATURAL MOLECULAR: Chapter 11 Trustee Hires Equipment Broker
------------------------------------------------------------
Mark Calvert, the Chapter 11 Trustee for Natural Molecular Testing
Corporation, asks for permission from the Hon. Marc Barreca of the
U.S. Bankruptcy Court for the Western District of Washington to
employ North West Supply Inc. as equipment broker.

The property to be sold includes all of the Debtor's equipment that
was packaged and transferred to AutoGenomics, Inc. during the
weekend of Dec. 19 through Dec. 21.

The Chapter 11 Trustee seeks the Court's approval:

   (a) to engage North West Supply to sell the Equipment for a
       commission of no greater than 30% of sale proceeds;

   (b) of private sales of the Equipment at or above the Minimum
       Prices without further Court order;

   (c) of sales of any of the Equipment to AutoGenomics at a price

       not lower than 90% of the Minimum Price without further
       Court order;

   (d) liens in the Equipment attaching to the proceeds in order
       of priority; and

   (e) payment to the Landlord and Acamar of their undisputed
       secured claim amounts without further Court order.

The Chapter 11 Trustee assures the Court that the firm is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.

North West Supply can be reached at:

       North West Supply Inc
       P.O. BOX 2395
       Sequim, WA 98382-2395
       Tel: (360) 683-2440

                      About Natural Molecular

Natural Molecular Testing Corp., which provides molecular
diagnostic-testing services, including testing for sexually
transmitted diseases and screening and counseling about cystic
fibrosis, filed a petition for Chapter 11 protection (Bankr. W.D.
Wash. Case No. 13-19298) on Oct. 21, 2013, in Seattle.  Hacker &
Willig, Inc., P.S., serves as its bankruptcy counsel. The closely
held company said assets are worth more than $100 million while
debt is less than $50 million.

Gail Brehm Geiger, Acting U.S. Trustee for Region 18, appointed a
five-member Committee of Unsecured Creditors.  Foster Pepper's Jane
Pearson, Esq.; Christopher M. Alston, Esq., and Terrance Keenan,
Esq., serve as the Committee's attorneys.


NETFLIX INC: Moody's Cuts CFR to B1 & Revises Outlook to Stable
---------------------------------------------------------------
Moody's Investors Service downgraded Netflix, Inc.'s (Netflix)
Corporate Family Rating (CFR) to B1 from Ba3, Probability of
Default Rating to Ba3-PD from Ba2-PD and senior unsecured debt
rating to B1 from Ba3. Moody's also revised the company's rating
outlook to stable from positive. The Speculative Grade Liquidity
rating remains unchanged at SGL-1.

Downgrades:

Issuer: Netflix, Inc.

  Probability of Default Rating, Downgraded to Ba3-PD from Ba2-PD

  Corporate Family Rating (Local Currency), Downgraded to B1
  from Ba3

  Senior Unsecured Regular Bond/Debenture (Local Currency)
  Mar 1, 2024, Downgraded to B1,LGD4 from Ba3,LGD4

  Senior Unsecured Regular Bond/Debenture (Local Currency)
  Feb 1, 2021, Downgraded to B1,LGD4 from Ba3,LGD4

Outlook Actions:

Issuer: Netflix, Inc.

  Outlook, Changed To Stable From Positive

The rating action was precipitated by the company's announcement
that it plans to increase debt by at least $1 billion to fund
accelerated international expansion in new territories and
materially increase investment in original owned programming to
support long-term growth and increase long-term profitability. The
downgrade of the CFR to B1 is not a reflection of Moody's view of
the strategic benefits of completing the company's global footprint
more quickly or increasing spending on owned original content. It
reflects Moody's view that the issuance of incremental debt to fund
both the significantly increased negative cash flows for the new
territory startup costs and the upfront working capital for the
significant shift from licensing to production spending will lead
to leverage levels meaningfully above the 4.0x sustained leverage
upper threshold for the Ba3 rating during Moody's two year rating
horizon. Moody's estimate that on a pro forma basis, an increase of
$1 billion of total debt, will increase consolidated debt-to-EBITDA
by about two turns to 4.3x from 2.3x (as of 12/31/2014 and
incorporating Moody's standard adjustments). "Further, based on the
company's public guidance for weaker operating results in 2015
relative to 2014, Moody's believe that the combination of a decline
in EBITDA over the near term and an increase in absolute debt
levels will further push leverage past the limit appropriate for a
Ba rating as that leverage could climb to over 6.0x in 2015,"
stated Neil Begley a Moody's Senior Vice president.

Moody's note that the company's risk profile will increase
materially given Moody's expectations for persistent and
significantly higher negative free cash flows going forward,
resulting from significant upfront payments related to original
programming. "This is a significant deviation from the company's
historical financial policies with regard to credit metrics and
concerns, which entailed a disciplined approach to expanding
operations in new territories with the use of internally generated
funds and maintenance of high cash balances in excess of total
funded debt," stated Begley. In light of the company's stated
intentions to increase investments in its core business and expand
operations rapidly, Moody's believe that Netflix is now pursuing a
financial policy that will lead to debt being sustained at higher
levels than previously envisaged. Given that Netflix plans to
accelerate investments in originals and continue to expand its
footprint in new regions, Moody's believe that the need to issue
additional debt (beyond $1 billion) by 2016 will remain compelling
in light of possible liquidity constraints due to continued
negative free cash flows and absence of a revolving credit
facility. Pro forma for $1 billion of debt issuance, the company's
cash balance (including short-term investments) stood at $2.6
billion as of 12/31/2014, which although currently strong may still
not be sufficient to support the company's investment needs beyond
2016 without a further debt raise. Moody's notes that the B1 rating
therefore allows for some headroom for further debt issuances, but
the final impact on ratings and the financial risk profile would
depend on the amount and timing of any additional borrowings, and
the company's subscriber and profit performance.

"Moody's recognizes the strategic importance of producing original
programming and owning exclusive content for Netflix to distinguish
itself with valuable franchises such as House of Cards and Orange
is the New Black," stated Begley. Moody's believe that the
company's move to aggressively invest in originals will allow it
flexibility to leverage the portfolio it builds over time in
multiple markets, across various distribution platforms and grow
its subscriber base by attracting viewers with exclusive and
premium content. These investments will not only give opportunities
to boost long-term growth but also build the company's asset base
and increase the value of its library. "Nevertheless, producing
original shows carries inherent risks and uncertainties versus
licensing proven product with audience appeal," added Begley.
However, unlike film studios, television and Internet networks can
chose to exhibit a show only for a limited time period and not to
fund additional episodes if the show fails to garner impressive
results.

As such, Moody's consider the developments to be in line with
Netflix's strategy to augment its content slate with high quality
originals with global appeal and strengthen its competitive
position to attract and retain customers. Accordingly, Moody's
think that these investments could improve Netflix's business
profile and earnings over the long-term but the company's ratings
are constrained by Moody's concerns that the planned cash outlays
involve a certain and increasing degree of risk, which along with
higher levels of debt and negative free cash flows, weigh heavily
on the company's credit profile. To be sure, while Moody's no
longer expect the improvement in financial metrics that supported
the prior positive outlook due to the change in managements
financial risk profile given the planned increase in debt, Moody's
expect that Netflix will continue to demonstrate strong operating
performance and exhibit operating characteristics that could be
consistent with a higher rating as markets turn profitable, and
leverage improves. These include its large scale of operations,
solid execution across its business segments, a significant
subscriber base and its leading position as an internet SVOD
service provider.

Ratings Rationale

Netflix's B1 CFR is supported by the company's position as the
largest content streaming subscription service in the U.S., with a
sizeable subscriber base and a market leading streaming product
offering. The rating also reflects the company's high pro forma
debt-to-EBITDA of approximately 4.3x (pro forma for $1 billion of
incremental debt and incorporating Moody's standard adjustments)
and expectations for higher leverage and negative free cash flow
generation resulting from significant cash outlays for content
costs. The rating also incorporates key business risks, which
include business concentration, and risks associated with low
barriers to entry and the potential for disintermediation from
competitors in the distribution of content. The company's past
predisposition for share repurchases (having repurchased almost $1
billion from 2007 to 2011), significant subscriber churn and
relatively low EBITDA margins compared to traditional media
companies continue to weigh on its credit profile, though Moody's
do not anticipate that the company will pay any dividends to
shareholders or buy back shares over the intermediate-term.

Netflix has successfully developed a digital business model and has
evolved into the dominant online content streaming company in the
US and some international territories from a pure physical DVD
rental subscription service, as evidenced by strong double digit
top-line growth in total revenues over the last eight quarters.
However, Netflix's business continues to be in transition with the
next few years being crucial to its developing a profitable
streaming business across various international territories that
can balance potential saturation in the domestic segment and fully
offset the rapidly declining profits from the high margin DVD
business. Its B1 CFR reflects the execution risk associated with
this transition, especially in the context of a broad range of
emerging disruptive competitors with low entry barriers, and the
evolving digital content distribution landscape that may hamper the
subscriber growth it needs in order to successfully build and
sustain a streaming business model, strong enough to withstand
competitive pressures, and balance significant investment demands.

Rating Outlook

The stable outlook reflects Moody's expectation that Netflix's
operating results will improve and the company will de-lever
following hitting peak leverage in 2015 through EBITDA and cash
flow growth starting in 2017, recognizing that over the short-term,
debt to EBITDA will likely exceed levels typical for the B1
rating.

What could change the rating -- UP

Given the material increase in permanent debt and change in fiscal
policies by the company's management, an upgrade is unlikely in the
near term. However, ratings could be upgraded if Netflix's mature
markets can fund new market launches and increases in content spend
such that it can maintain a significant lead on its content
offering relative to competitors, while sustaining leverage below
4.0x. A strong commitment from management to a higher rating will
be necessary for an upgrade.

What could change the rating -- DOWN

Ratings could be downgraded if leverage is sustained above 6.0x for
an extended time frame (beyond 2016). The company's rating may face
downward pressure if it experiences domestic streaming subscriber
growth of under 4 million per year until it reaches above 40
million US subscribers, and is unable to maintain domestic and
equally mature markets' margins above 12%. Expectations for
deterioration in long-term growth due to competitive pressures or
operational setbacks and liquidity constrains could also lead to a
downgrade.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.



NEXT 1 INTERACTIVE: Berdon & Co. Reports 9.9% Stake at Dec. 31
--------------------------------------------------------------
F. Berdon & Co., LLC, disclosed in a regulatory filing with the
U.S. Securities and Exchange Commission that as of Dec. 31, 2014,
it beneficially owned 2,053,778 shares of common stock of
Next 1 Interactive, Inc., representing 9.99 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                        http://is.gd/TLIwu3

                      About Next 1 Interactive

Weston, Fla.-based Next 1 Interactive, Inc., is the parent company
of RRTV Network (formerly Resort & Residence TV), Next Trip -- its
travel division, and Next One Realty -- its real estate division.
The Company is positioning itself to emerge as a multi revenue
stream "Next Generation" media-company, representing the
convergence of TV, mobile devices and the Internet by providing
multiple platform dynamics for interactivity on TV, Video On
Demand (VOD) and web solutions.  The Company has worked with
multiple distributors beta testing its platforms as part of its
roll out of TV programming and VOD Networks.  The list of multi-
system operators the Company has worked with includes Comcast,
Cox, Time Warner and Direct TV.  At present the Company operates
the Home Tour Network through its minority owned/joint venture
real estate partner -- RealBiz Media.  As of July 17, 2012, the
Home Tour Network features over 4,300 home listings in four cities
on the Cox Communications network.

The Company incurred a net loss of $18.3 million on $1.56 million
of total revenues for the year ended Feb. 28, 2014, as compared
with a net loss of $4.23 million on $987,000 of total revenues for
the year ended Feb. 28, 2013.

As of Nov. 30, 2014, the Company had $3.91 million in total assets,
$13.8 million in total liabilities, and a $9.91 million total
stockholders' deficit.

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Feb. 28, 2014.  The independent auditors noted that
the Company has incurred net losses of $18.3 million and net cash
used in operations of $4.59 million for the year ended Feb. 28,
2014, and the Company had an accumulated deficit of $87.6
million and a working capital deficit of $13.5 million at Feb. 28,
2014.  These conditions raise substantial doubt about the Company's
ability to continue as a going concern.

                         Bankruptcy Warning

"If we continue to experience liquidity issues and are unable to
generate revenue, we may be unable to repay our outstanding debt
when due and may be forced to seek protection under the federal
bankruptcy laws," the Company said in its fiscal 2013 annual
report.


NNN PARKWAY: Balks at WBCMT's Bid to Surcharge Collateral
---------------------------------------------------------
NNN Parkway 400 26, LLC, et al., opposed to WBCMT 2007-C31
Amberpark Office Limited Partnership's motion to surcharge
collateral.

In June 2013, the lender filed a motion for relief from stay
contending that the value of the property was $20.8 million based
on an appraisal dated April 2013.

In its opposition, the Debtor said that the services of the
Debtors' professionals did not duplicate the services of the
property manager as the lender contended.

Additionally, of the approximate $1.16 million in total fees and
costs incurred by the Debtors' professionals during the bankruptcy
cases, the Debtors heeded the Court's caution to be appropriately
selective in their request for surchargeable fees and costs.  It
is indisputable that $44,800 of these fees and costs, or 3.9%,
resulted in a quantifiable benefit to the lender, as demonstrated
by the Lender's own admission that the value of the property
increased by $3.7 million after replacement of the property
manager.

The Debtors are represented by:

         Evan D. Smiley, Esq.
         Kyra E. Andrassy, Esq.
         SMILEY WANG-EKVALL, LLP
         3200 Park Center Drive, Suite 250
         Costa Mesa, CA 92626
         Tel: (714) 445-1000
         Fax: (714) 445-1002
         E-mail: esmiley@swelawfirm.com
                 kandrassy@swelawfirm.com

                 - and -

         Christine E. Baur, Esq.
         LAW OFFICE OF CHRISTINE E. BAUR
         4563 Carmel Mountain Road, Suite 308 #332
         San Diego, CA 92130
         Tel: (858) 350-3757
         Fax: (858) 876-9480
         E-mail: christine@baurbklaw.com

                   About NNN Parkway 400 26 LLC

NNN Parkway 400 26, LLC, filed a bare-bones Chapter 11 petition
(Bankr. C.D. Cal. Case No. 12-24593) in Santa Ana, California,
on Dec. 31, 2012.  Dana Point, California-based NNN Parkway
estimated assets and debts of $10 million to $50 million.  The
Hon. Judge Theodor Albert presides over the case.  The Law
Office of Christine E. Baur, and David A. Lee, Esq., at Weiland,
Golden, Smiley, Wang Ekvall & Strok, LLP, represent the Debtor.

Prepetition, the Debtors retained HighPoint Management Solutions,
LLC, a bankruptcy consulting company, as a manager of the Debtors,
and HighPoint's President, Mr. Mubeen Aliniazee, as the Debtors'
Restructuring Officer, to assist the Debtors in their compliance
with the Chapter 11 bankruptcy process.

The Debtors' primary asset is a commercial real property commonly
known as Parkway 400, which is a two-building office campus
totaling approximately 193,281 square feet located at 11720 Amber
Park Drive and 11800 Amber Park Drive, Alpharetta, Georgia.  The
Debtors hold a concurrent ownership interest in the Property with
other tenant-in-common investors and the sponsor, NNN Parkway 400,
LLC.

In January 2014, Judge Albert issued an Amended Memorandum of
Decision denying confirmation of the Chapter 11 plan of NNN
Parkway and its 30 debtor affiliates, and granting the lender
relief from the automatic stay.  A copy of Judge Albert's Jan. 28,
2014 Amended Memorandum of Decision is available at
http://is.gd/36UOTofrom Leagle.com.



NPS PHARMACEUTICALS: Urges Stockholders to Accept Offer
-------------------------------------------------------
Knight Newco 2, Inc., an indirect wholly owned subsidiary of each
of Shire Pharmaceutical Holdings Ireland Limited and Shire plc, are
offering to purchase any and all outstanding shares of common
stock, par value $0.001 per share, of NPS Pharmaceuticals, Inc.,
for $46.00 per share, net to the seller in cash, without interest
and less any required withholding taxes, pursuant to the Agreement
and Plan of Merger, dated as of Jan. 11, 2015.

The offer and withdrawal rights expire at 12:00 midnight, New York
City Time, at the end of Friday, Feb. 20, 2015, unless extended.

The Board of Directors of NPS has unanimously (a) determined that
the terms of the Merger Agreement and the transactions contemplated
thereby, including the Offer and the merger contemplated, are fair
to and in the best interests of NPS's stockholders, (b) approved,
adopted and declared advisable the Merger Agreement, the Offer, the
Merger and the other transactions contemplated by the Merger
Agreement and (c) recommended that NPS's stockholders accept the
Offer.

A full-text copy of the Offer to Purchase is available at:

                        http://is.gd/mSsQDV

                    About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing new treatment
options for patients with rare gastrointestinal and endocrine
disorders.

NPS Pharmaceuticals reported a net loss of $13.5 million in 2013,
a net loss of $18.7 million in 2012 and a net loss of $36.3
million in 2011.  The Company posted consolidated net loss of
$31.4 million in 2010 and a net loss of $17.9 million in 2009.

The Company's balance sheet at Sept. 30, 2014, showed $282
million in total assets, $151 million in total liabilities and
$131 million in total stockholders' equity.


PATHEON INC: Bank Debt Trades at 3% Off
---------------------------------------
Participations in a syndicated loan under which Patheon Inc. is a
borrower traded in the secondary market at 97.2 cents-on-the-
dollar during the week ended Friday, Jan. 14, 2021, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.33
percentage points from the previous week, The Journal relates.
Patheon Inc. pays 325 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Jan. 14, 2021, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



PEABODY ENERGY: S&P Revises Outlook to Neg. & Affirms 'BB-' CCR
---------------------------------------------------------------
Standard & Poor's Ratings Services said it revised the rating
outlook on St. Louis-based Peabody Energy Corp. to negative from
stable.  S&P also affirmed its 'BB-' corporate credit rating on the
company.  At the same time, S&P affirmed its 'BB' issue-level
rating on the company's senior secured debt.  The '2' recovery
rating on the debt indicates S&P's expectation of a substantial
(70% to 90%) recovery in the event of a payment default.  In
addition, S&P affirmed its 'BB-' issue-level rating on the
company's senior unsecured debt.  The '4' recovery rating on the
debt indicates S&P's expectation of an average (30% to 50%)
recovery in the event of a payment default.

"The negative outlook is based on our assumption that coal prices
will remain depressed for at least another year.  As a result, we
see an increased likelihood that Peabody's debt to EBITDA ratio
will remain above 5x through 2015," said Standard & Poor's credit
analyst Chiza Vitta.

S&P could lower the rating if market conditions continue to
deteriorate and leverage is sustained above 7x, or it becomes more
certain that leverage will remain above 5x through the end of 2015.
S&P could also lower its rating if the cushion relating to secured
debt leverage or interest coverage covenants dropped below 15%.
However, S&P expects Peabody would be able to negotiate covenant
relief given our view that it has sound relationships with
lenders.

S&P would revise its outlook back to stable if coal prices improve
more quickly than S&P currently anticipates or if the company is
able to cut costs and take other measures such that leverage drops
below 5x in 2015.



PETRON ENERGY: Carebourn Reports 8.6% Stake as of Jan. 20
---------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Carebourn Capital, L.P., disclosed that as of
Jan. 20, 2015, it beneficially owned 2,600,000 shares of common
stock of Petron Energy II, Inc., representing 8.63 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/jsEP3N

                        About Petron Energy

Dallas-based Petron Energy II, Inc., is engaged primarily in the
acquisition, development, production, exploration for and the sale
of oil, gas and gas liquids in the United States.  As of Dec. 31,
2011, the Company is operating in the states of Texas and
Oklahoma.  In addition, the Company operates two gas gathering
systems located in Tulsa, Wagoner, Rogers and Mayes counties of
Oklahoma.  The pipeline consists of approximately 132 miles of
steel and poly pipe, a gas processing plant and other ancillary
equipment.  The Company sells its oil and gas products primarily
to a domestic pipeline and to another oil company.

Petron Energy reported a net loss of $4.30 million in 2013
following a net loss of $8.32 million in 2012.

As of Sept. 30, 2014, the Company had $3.74 million in total
assets, $13.8 million in total liabilities and a $10.09 million
total stockholders' deficit.

KWCO, PC, in Odessa, TX, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company's
significant operating losses since inception raise substantial
doubt about its ability to continue as a going concern.


PLANDAI BIOTECHNOLOGY: To Sell $25 Million Worth of Securities
--------------------------------------------------------------
Plandai Biotechnology, Inc., filed a Form S-3 registration
statement with the U.S. Securities and Exchange Commission relating
to the sale of shares of its common stock, par value $0.0001, of
Plandaí Biotechnology, Inc., having a maximum aggregate offering
price of $25,000,000.

The Company will pay the expenses incurred in registering the
shares, including legal and accounting fees.

The Company's common stock is currently quoted on the OTC Bulletin
Board, under the symbol "PLPL."  On Jan. 14, 2015, the last
reported sales price per share of the Company's common stock on the
OTC Bulletin Board, was $0.27.

A full-text copy of the Form S-3 is available for free at:

                        http://is.gd/iL6bOy

                           About Plandai

Based in Seattle, Washington, Plandai Biotechnology, Inc., through
its recent acquisition of Global Energy Solutions, Ltd., and its
subsidiaries, focuses on the farming of whole fruits, vegetables
and live plant material and the production of proprietary
functional foods and botanical extracts for the health and
wellness industry.  Its principle holdings consist of land, farms
and infrastructure in South Africa.

Plandai Biotechnology reported a net loss of $15.5 million on
$266,000 of revenues for the year ended June 30, 2014, compared to
a net loss of $2.96 million on $359,000 of revenues for the year
ended June 30, 2013.

"We have historically lost money.  The loss for the fiscal year
ended June 30, 2014 was $15,533,819 and future losses are likely to
occur.  Accordingly, we may experience significant liquidity and
cash flow problems if we are not able to raise additional capital
as needed and on acceptable terms.  No assurances can be given we
will be successful in reaching or maintaining profitable
operations," Plandai stated in its quarterly reported for the
period ended Sept. 30, 2014.

As of Sept. 30, 2014, the Company had $10.9 million in total
assets, $14.6 million in total liabilities and a $3.69 million
equity allocated to the Company.

Terry L. Johnson, CPA, in Casselberry, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended June 30, 2014.

"The Company has incurred a deficit of approximately $26 million
and has used approximately $44 million of cash due to its
operating activities in the two years ended June 30, 2014.  The
Company may not have adequate readily available resources to fund
operations through June 30, 2015.  This raises substantial doubt
about the Company's ability to continue as a going concern," the
auditors noted.


PLATFORM SPECIALTY: S&P Retains 'BB' CCR Over Resized Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings on U.S.
specialty chemicals producer Platform Specialty Products Corp. are
not affected by the company's decision to resize its proposed
incremental term loan and senior unsecured notes.  The company
plans to upsize its proposed senior secured notes to $1 billion
from $500 million and to downsize its incremental loan to $500
million from $1 billion.  This resizing does not affect the 'BB'
corporate credit rating or stable outlook.

Issue and recovery ratings also remain unchanged.  On Jan. 12,
2015, S&P assigned its 'BB' issue-level rating and '3' recovery
rating to the proposed term loan, indicating its expectation for
meaningful recovery (50% to 70%) if a payment default occurs.  S&P
also assigned its 'BB-' issue-level rating and '5' recovery rating
to the company's proposed senior unsecured notes, indicating its
expectation of modest recovery (10% to 30%) in the event of a
payment default.

RATINGS LIST

Ratings Not Affected By Debt Resize
Platform Specialty Products Corp.

Corp credit rating                 BB/Stable/--
Senior secured bank loan           BB
Recovery rating                    3
Senior unsecured notes             BB-
Recovery rating                    5



QUEST SOLUTION: RBSM LLP Replaces L.L. Bradford as Auditors
-----------------------------------------------------------
Quest Solution, Inc., disclosed in a regulatory filing with the
U.S. Securities and Exchange Commission that it was notified by
L.L. Bradford & Company, LLC, that the firm resigned as the
Company's independent registered public accounting firm.  The
reports of Bradford on the Company's financial statements for the
years ended Dec. 31, 2013, and for the period then ended did not
contain an adverse opinion or disclaimer of opinion, and those
reports were not qualified or modified as to uncertainty, audit
scope, or accounting principle.

The reports of Bradford on the Company's financial statements as of
and for the year ended Dec. 31, 2013, contained an explanatory
paragraphs which noted that there was substantial doubt as to the
Company's ability to continue as a going concern as the Company has
reported a net loss of for the year ended Dec. 31, 2013, and had an
accumulated deficit as of Dec. 31, 2013, that raises doubt about
its ability to continue as a going concern.

Bradford also served as the auditor for Quest Marketing, Inc., and
Bar Code Specialties, Inc., which were acquired in 2014 and the
respective audit reports for those did not contain the explanatory
paragraphs relative to going concern issues.

During the years ended Dec. 31, 2013, through Jan. 20, 2015, the
Company has not had any disagreements with Bradford on any matter.

On Jan. 20, 2015, the Company engaged RBSM LLP as its independent
registered public accounting firm for the Company's fiscal year
ended Dec. 31, 2014.  The decision to engage RBSM as the Company's
independent register ed public accounting firm was approved by the
Company's Board of Directors.

During the two most recent fiscal years and through the Engagement
Date, the Company said it has not consulted RBSM.

                       About Quest Solution

Quest Solution (formerly known as Amerigo Energy, Inc.) is a
national mobility systems integrator with a focus on design,
delivery, deployment and support of fully integrated mobile
solutions.  The Company takes a consultative approach by offering
end to end solutions that include hardware, software,
communications and full lifecycle management services.  The highly
tenured team of professionals simplifies the integration process
and delivers proven problem solving solutions backed by numerous
customer references.  Motorola, Intermec, Honeywell, Panasonic,
AirWatch, Wavelink, SOTI and Zebra are major suppliers which Quest
Solution uses in its systems.

Amerigo Energy reported a net loss of $1.12 million in 2013
following a net loss of $191,000 in 2012.


QUEST SOLUTION: Reports Appointment of Kurt Thomet as President
---------------------------------------------------------------
The Board of Directors of Quest Solution, Inc., on Nov. 20, 2014,
appointed Kurt Thomet to serve as president of the Company,
according to a Form 8-K filed with the U.S. Securities and Exchange
Commission on Jan. 21, 2015.  

Mr. Kurt Thomet, age 55, was the founder and president of Quest
Solution, Inc., prior to its purchase by Amerigo Energy Inc., the
prior name of the Company, in January 2014, and he has served as
the president of Quest Marketing, Inc., a wholly-owned subsidiary
of the Company, since its founding in 1994.  Prior to founding
Quest Marketing, Inc., from 1993 to 1994, he served as the VAR
(value-added-reseller) manager for Percon, Inc., a developer and
manufacturer of mobile data terminals before it went public and
sold to Spectra Physics.  From 1991 to 1993, Mr. Thomet served as
the VAR manager for PI System Corp., a venture-backed company
developing pen-based tablet computer products.  Prior to that from
1988 to 1991, Mr. Thomet served as a sales representative for
public company Telxon Inc., a developer of the original Wi-Fi
technology that was acquired by Cisco, and Telxon Inc. was sold to
Symbol Technologies in 2000.

Mr. Thomet's contract is for $17,205 per month along with a
separate annual bonus amount to be paid equivalent to a 401K
contribution for employees.

In January 2014, the Company acquired Quest Solution, Inc., for an
aggregate purchase price of $16,000,000.  As a part of the
consideration for the acquisition, the Company issued to Mr.
Thomet, who was then a shareholder of the Target, a promissory note
for an original principal amount of $11,031,000.  

Mr. Thomet has entered into amended and restated secured
subordinated  promissory notes with the Company to amend and
restate the Original Thomet Note.  The other shareholder of Quest
Marketing, Inc., also entered into an amendment and restated
secured subordinated promissory notes with the Company to amend and
restate the Original Note with substantially identical terms as the
Restated Thomet Notes.

The Restated Thomet Notes bear interest at a fixed rate of 1.89%
per annum.  

In addition, in January 2014, the Company issued to Mr. Thomet the
following warrants to purchase shares of Common Stock:

  * A warrant to purchase 4,000,000 share of Common Stock at an
    exercise price of $1.00 per share.  That warrant will vest
    and become exercisable when the Company reaches $35,000,000 in

    sales.  This warrant expires on Jan. 9, 2016.

  * A warrant to purchase 1,600,000 shares of Common Stock at an
    exercise price of $3.00 per share.  That warrant will vest
    when the Company's securities are listed on NASDAQ, AMEX or a
    national securities exchange.  This warrant expires on Jan. 9,
    2017.

   * An agreement to issue 1,500,000 shares of Common Stock when
     the Company reaches $40,000,000 in sales.  This agreement
     expires on Jan. 9, 2014.

A full-text copy of the regulatory filing is available at:

                       http://is.gd/UtHYoy

                       About Quest Solution

Quest Solution (formerly known as Amerigo Energy, Inc.) is a
national mobility systems integrator with a focus on design,
delivery, deployment and support of fully integrated mobile
solutions.  The Company takes a consultative approach by offering
end to end solutions that include hardware, software,
communications and full lifecycle management services.  The highly
tenured team of professionals simplifies the integration process
and delivers proven problem solving solutions backed by numerous
customer references.  Motorola, Intermec, Honeywell, Panasonic,
AirWatch, Wavelink, SOTI and Zebra are major suppliers which Quest
Solution uses in its systems.

Amerigo Energy reported a net loss of $1.12 million in 2013
following a net loss of $191,000 in 2012.

L.L. Bradford & Company, LLC, Las Vegas, NV, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit that raises substantial doubt about its
ability to continue as a going concern.


RADIO ONE: Finc'l Covenants Amendment No Impact on Moody's B3 CFR
-----------------------------------------------------------------
Moody's Investors Service says on January 21, 2015, Radio One Inc.
executed an amendment to its credit agreement which relaxes
financial maintenance covenants through the March 31, 2016 term
loan maturity. The company also announced plans to acquire the
47.5% of TV One that it does not already own from Comcast
Corporation (A3, positive). Management expects the TV One
transaction to close sometime in the 1st half of 2015 and will seek
to further amend or refinance its credit facilities. The relaxation
of financial tests has no immediate impact on credit ratings as
Moody's expects the company's operating performance and credit
metrics to remain within its B3 Corporate Family Rating.
Furthermore, Moody's expect the company will be able to refinance
or extend the maturities of its credit facilities including the
term loan which matures in March 2016. Although the existing $25
million revolver expires in two months (March 31, 2015), Moody's
believe the company will have adequate liquidity post expiry and
leading up to the refinancing of credit facilities with an
estimated $49 million of cash balances (excluding roughly $21
million of cash at TV One). The amendment also excludes any "going
concern" or qualified audit opinion solely as a result of the near
term revolver or term loan maturities from the Event of Default
provisions of the credit agreement.

Management is looking at potential alternatives to financing the
planned acquisition of the minority interests of TV One, and
Moody's will need to review the company's final plan including
likely increases in debt balances. The company's 9.25% senior sub
notes issued in February 2014 includes a 7.0x (as defined)
incurrence test which Moody's expect will keep leverage in line
with current levels upon closing of the planned acquisition of the
minority interests of TV One. Radio One's B3 corporate family
rating reflects high debt-to-EBITDA of roughly 7.1x estimated by
Moody's for the restricted group for the 12 months ended December
31, 2014 (including Moody's standard adjustments, plus TV One
dividends, or 6.7x net debt-to-EBITDA) and Moody's expectation that
revenue and EBITDA for radio operations will partially rebound over
the next 12 months resulting in leverage improving to less than
7.0x with low to mid-single digit percentage free cash flow-to-debt
ratios. Management's actions to turn around station performance in
Houston combined with significant contractual cost reductions for
Reach Media will support EBITDA growth and improvement in credit
metrics.

Radio One Inc., headquartered in Silver Spring, MD, is an urban
oriented multi-media company that operates or owns interests in
radio broadcasting stations (48% of restricted group gross revenue
as of LTM September 2014 generated by 54 stations in 16 markets),
an approximate 52% ownership in TV One, a cable television network
(34% of revenue), an 80% ownership in Reach Media featuring the Tom
Joyner Morning Show (12% of revenue), and ownership of Interactive
One as well as other internet-based properties (6% of revenue),
largely targeting the African-American audience. The Chairperson,
Catherine L. Hughes, and President, Alfred C. Liggins III
(Chairperson's son), hold roughly 94% of the outstanding voting
power and 46% of economic interest of the common stock. The company
reported consolidated revenue of $449 million for the 12 months
ended September 30, 2014.



RADIOSHACK CORP: Gets Another Delisting Warning From NYSE
---------------------------------------------------------
Reuters reports that RadioShack Corp. said the New York Stock
Exchange issued on Jan. 15, 2015, another warning that it could
delist the Company as its average market capitalization had stayed
under $50 million for more than 30 consecutive days.

Reuters recalls that the Company previously received a delisting
notice in July 2014, after its stock closed below $1.00 for more
than 30 trading days in a row.

According to Reuters, the Company said it has 45 days from Jan. 15
to present NYSE a business plan showing it can regain compliance
within 18 months.  The Company believes that the notice wouldn't
affect its debt obligations, the report adds.

                     About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com/--
is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139.4 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Worth, Texas-based RadioShack Corp. to 'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek
capital, and that such a transaction could include a debt
restructuring in addition to store closures and other measures,"
said Standard & Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.
The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa2 from Caa1.  "The continuing negative trend in RadioShack's
sales and margins has resulted in a precipitous drop in
profitability causing continued deterioration in credit metrics and
liquidity," Mickey Chadha, Senior Analyst at Moody's said.


RADIOSHACK CORP: Receives Noncompliance Notice from NYSE
--------------------------------------------------------
RadioShack Corporation received a continued listing standards
notice from the New York Stock Exchange on Jan. 15, 2015, because
the average market capitalization of the Company was less than $50
million over a period of 30 consecutive trading days and
stockholders' equity of the Company was below $50 million.

RadioShack's common stock continues to trade on the NYSE.  Under
NYSE rules, the Company has 45 days following receipt of the
notification to provide the NYSE with a business plan that
demonstrates the Company's ability to regain compliance within 18
months.  If the Company submits a business plan, the Listings and
Compliance Committee of the NYSE will either accept the business
plan or if the Committee does not accept the business plan the
Company will be subject to suspension by the NYSE and delisting.

The Company's Securities and Exchange Commission reporting
requirements and debt obligations are not affected by the receipt
of the NYSE notification.

                   About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com/--
is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Worth, Texas-based RadioShack Corp. to 'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek
capital, and that such a transaction could include a debt
restructuring in addition to store closures and other measures,"
said Standard & Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.
The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa2 from Caa1.  "The continuing negative trend in RadioShack's
sales and margins has resulted in a precipitous drop in
profitability causing continued deterioration in credit metrics and
liquidity," Mickey Chadha, Senior Analyst at Moody's said.


RADIOSHACK CORP: Receives NYSE Continued Listing Standards Notice
-----------------------------------------------------------------
RadioShack Corporation on Jan. 22, 2015, disclosed that it received
a continued listing standards notice from the New York Stock
Exchange on Jan. 15, because its average market capitalization was
less than $50 million over a period of 30 consecutive trading days
and stockholders' equity of the Company was below $50 million.

RadioShack's common stock continues to trade on the NYSE.  Under
NYSE rules, the Company has 45 days following receipt of the
notification to provide the NYSE with a business plan that
demonstrates the Company's ability to regain compliance within 18
months.  If the Company submits a business plan, the Listings and
Compliance Committee of the NYSE will either accept the business
plan or if the Committee does not accept the business plan the
Company will be subject to suspension by the NYSE and delisting.

The Company's Securities and Exchange Commission reporting
requirements and debt obligations are not affected by the receipt
of the NYSE notification.

                 About Radioshack Corporation

RadioShack (NYSE: RSH) -- http://www.radioshackcorporation.com/--
is a national retailer of innovative mobile technology products and
services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in assets, $1.21 billion in liabilities, and a $63.0
million shareholders' deficit.

                           *     *     *

As reported by the TCR on Sept. 15, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on RadioShack to
'CCC-' from 'CCC'.

"The downgrade comes as the company announced it will seek capital,
and that such a transaction could include a debt restructuring in
addition to store closures and other measures," said Standard &
Poor's credit analyst Charles Pinson-Rose.

In the Sept. 16, 2014, edition of the TCR, the TCR reported that
Fitch Ratings had downgraded the Long-term Issuer Default Rating
for RadioShack to 'C' from 'CC'.  The downgrade reflects the high
likelihood that RadioShack will need to restructure its debt in the
next couple of months.

The TCR reported on March 13, 2014, that Moody's Investors Service
downgraded RadioShack's corporate family rating to 'Caa2' from
'Caa1'.  "The continuing negative trend in RadioShack's sales and
margins has resulted in a precipitous drop in profitability causing
continued deterioration in credit metrics and liquidity," Mickey
Chadha, Senior Analyst at Moody's said.



RESPONSE BIOMEDICAL: OrbiMed Reports 44.9% Stake as of Dec. 31
--------------------------------------------------------------
OrbiMed Advisors LLC and its affiliates disclosed in a regulatory
filing with the U.S. Securities and Exchange Commission that as of

Dec. 31, 2014, they beneficially owned 5,438,695 shares of common
stock of Response Biomedical Corp. representing 44.9 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/X0XlQz

                     About Response Biomedical

Based in Vancouver, Canada, Response Biomedical Corporation
develops, manufactures and sells diagnostic tests for use with its
proprietary RAMP(R) System, a portable fluorescence immunoassay-
based diagnostic testing platform.  The RAMP(R) technology
utilizes a unique method to account for sources of error inherent
in conventional lateral flow immunoassay technologies, thereby
providing the ability to quickly and accurately detect and
quantify an analyte present in a liquid sample.  Consequently, an
end-user on-site or in a point-of-care setting can rapidly obtain
important diagnostic information.  Response Biomedical currently
has thirteen tests available for clinical and environmental
testing applications and the Company has plans to commercialize
additional tests.

Response Biomedical reported a net loss and comprehensive loss of
$5.99 million in 2013, a net loss and comprehensive loss of $5.28
million in 2012 and a net loss and comprehensive loss of $5.37
million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed
$12.3 million in total assets, $15.6 million in total liabilities
and total stockholders' deficit of $3.32 million.

PricewaterhouseCoopers LLP, in Vancouver, British Columbia, issued
a "going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has incurred recurring losses from
operations and has an accumulated deficit at Dec. 31, 2013, which
raises substantial doubt about its ability to continue as a going
concern.


REVEL AC: Jan. 26 Hearing on Request for Exclusivity Extension
--------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on Jan. 26, 2015,
at 10:00 a.m., to consider Revel AC Inc.'s request for exclusivity
extension.

The Debtors moved that the Court extend their exclusive period to
solicit acceptances for their plan or plans of reorganization until
March 31, 2015.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and      
operates Revel, a Las Vegas-style, beachfront entertainment resort
and casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19,
2014, to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-
16253) on March 25, 2013, with a prepackaged plan that reduced
debt by $1.25 billion.  Less than two months later on May 15,
2013, the 2013 Plan was confirmed and became effective on May 21,
2013.



SABINE OIL: Dod Fraser Quits From Board of Directors
----------------------------------------------------
Dod A. Fraser resigned from the board of directors of Sabine Oil &
Gas Corporation on Jan. 16, 2015.  Mr. Fraser's resignation did not
result from any disagreement with the Board or the Company
regarding any matter related to the Company's operations, policies
or practices, according to a regulatory filing with the U.S.
Securities and Exchange Commission.

Moreover, Sabine Oil disclosed that it filed a registration
statement on Form S-4 containing a preliminary proxy statement with
respect to the Company.  A copy of the Form 8-K filing describing
the Company's business and properties is available for free at
http://is.gd/umOXPO

                           About Sabine

Sabine Oil & Gas LLC, (formerly Forest Oil Corporation) is an
independent energy company engaged in the acquisition, production,
exploration and development of onshore oil and natural gas
properties in the United States.  Sabine's current operations are
principally located in Cotton Valley Sand and Haynesville Shale in
East Texas, the Eagle Ford Shale in South Texas, and the Granite
Wash in the Texas Panhandle.  See http://www.sabineoil.com/  

Ernst & Young LLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements of Forest
Oil for the year ended Dec. 31, 2013.  The independent accounting
firm noted that the Company has determined that it expects to fail
a financial covenant in its Credit Facility sometime prior to the
end of 2014, which could result in the acceleration of all
borrowings thereunder and the Company's senior unsecured notes due
2019 and 2020.  This raises substantial doubt about the Company's
ability to continue as a going concern.

The Company's balance sheet at Sept. 30, 2014, the Company had
$927 million in total assets, $1.07 billion in total
liabilities, and a $148 million shareholders' deficit.

                            *    *    *

As reported by the TCR on May 12, 2014, Standard & Poor's Ratings
Services said it affirmed its ratings on Houston-based Sabine Oil &
Gas LLC ratings, including the 'B' corporate credit rating.


SABLE NATURAL: Files Statement of Revenue for Acquired Properties
-----------------------------------------------------------------
Sable Natural Resources disclosed in a regulatory filing with the
U.S. Seurities and Exchange Commission that on Oct. 15, 2014,
the Company, through its wholly-owned subsidiary Sable Operating
Company, completed an acquisition of certain oil and gas assets
pursuant to the terms of an acquisition agreement with Upham Oil &
Gas Company, L.P., CRU Jr. Producing, L.P., Upham Producing, L.P.,
BLU Producing, L.P., MKU Producing, L.P., and RU Producing, L.P.
The Properties included:

   (i) a one hundred percent working interest in and to the leases

       listed on Exhibit A to the Acquisition Agreement; and

  (ii) all right of way agreements, all pipelines and flow lines,
       compressor site leases, facility site leases, tanks, jacks,

       separators, compressors, well bores, tubing, casing, pumps
       and all other equipment and property directly used in
       connection with the operation and production from the
       Leases.

The Properties consist of 19,881 leasehold acres with 123 existing
wells, including 49 commercially producing wells at the time of
acquisition, 69 shut-in wells that Sable plans to return to
production through a combination of workovers including mechanical
repairs, adding perforations, acidizing, fracture stimulations and
recompletions in additional productive formations behind pipe, 4
injection wells and 1 salt water disposal well.  The Properties
contain sufficient leasehold acres upon which Sable intends to
drill numerous infield wells.

The total purchase price for the Properties was $9.5 million, paid
in cash at closing.  The Acquisition Agreement provided for
customary representations and warranties and covenants from both
the purchaser and the sellers.

On Jan. 2, 2015, the Company filed with the SEC a copy of the
statement of revenue and direct operating expenses related to the
Properties, a copy of which is available at http://is.gd/K4A1uf

                         About NYTEX Energy

Sable Natural Resources Corporation, formerly known as Nytex Energy
Holdings, Inc., is an energy holding company with operations
centralized in two subsidiaries, Francis Drilling Fluids, Ltd.
("FDF") and NYTEX Petroleum, Inc. ("NYTEX Petroleum").  FDF is a 35
year old full-service provider of drilling, completion and
specialized fluids and specialty additives; technical and
environmental support services; industrial cleaning services;
equipment rentals; and
transportation, handling and storage of fluids and dry products
for the oil and gas industry.  NYTEX Petroleum, Inc., is an
exploration and production company focusing on early stage
development of minor oil and gas resource plays within the United
States.

NYTEX Energy reported a net loss of $2.67 million in 2013
following a net loss of $5.15 million in 2012.

As of Sept. 30, 2014, the Company had $5.77 million in total
assets, $2.74 million in total liabilities, $3.72 million in
preferred stock, and a $695,000 total stockholders' deficit.

In its report on the Company's consolidated financial statements
for the year ended Dec. 31, 2013, Whitley Penn LLP expressed
substantial doubt about the Company's ability to continue as a
going concern, citing that the Company will need additional
working capital to fund operations.


SCOTT SWIMMING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Scott Swimming Pools, Inc.
        75 Washington Road
        Woodbury, CT 06798

Case No.: 15-50094

Chapter 11 Petition Date: January 22, 2014

Court: United States Bankruptcy Court
       District of Connecticut (Bridgeport)

Judge: Hon. Alan H.W. Shiff

Debtor's Counsel: James M. Nugent, Esq.
                  HARLOW, ADAMS, AND FRIEDMAN, P.C.
                  One New Haven Ave, Suite 100
                  Milford, CT 06460
                  Tel: (203) 878-0661
                  Fax: (203) 878-9568
                  Email: jmn@quidproquo.com

Total Assets: $0

Total Liabilities: $3.79 million

The petition was signed by James M. Scott, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ctb15-50094.pdf


SEL USA: Files for Bankruptcy Protection in Tennessee
-----------------------------------------------------
SEL Exchange Inc. on Jan. 23 disclosed that its wholly owned
subsidiary SEL USA Inc. has filed for bankruptcy protection in the
state of Tennessee.  After reviewing all options including a sale,
the Board of Directors saw no path to positive cash flow for the
Company in the foreseeable future.

The first meeting of creditors will be held on Feb. 18th, 2015 in
Nashville Tennessee. Case number 3:15-bk-00268.

                   About SEL Exchange Inc.

The Company through its wholly owned subsidiaries Service Results
Technology Inc. and SEL Exchange USA, Inc., is dedicated to
managing consumer and retail store returns and problematic
electronics through a product management system.  The Company
manages product warranties, service repairs, consumer returns from
receiving to end-of-life with quality assurance testing, factory
servicing, resale through non-traditional channels and recycling of
non saleable product to support a closed-loop distribution process.
The Company is able to recycle the non-saleable returns it
receives, thereby allowing customer returns to have a very low
environmental impact.  The Company currently operates in Ontario,
Canada and Tennessee, USA.


SEQUENOM INC: Director John Fazio Won't Seek for Re-election
------------------------------------------------------------
John A. Fazio, who has served as a member of Sequenom, Inc.'s Board
of Directors since 2007, notified the Company that he has opted not
to stand for re-election to the Company's Board of Directors at the
next annual meeting of shareholders.  Mr. Fazio's decision was not
a result of any disagreement, according to a regulatory filing with
the U.S. Securities and Exchange Commission.

                          About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom incurred a net loss of $107.4 million in 2013, a net
loss of $117 million in 2012 and a net loss of $74.1 million in
2011.

The Company's balance sheet at Sept. 30, 2014, showed $135
million in total assets, $186 million in total liabilities, and
a $51.9 million stockholders' deficit.


SKYMALL LLC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:
  
       Debtor                                        Case No.
       ------                                        --------
       SkyMall, LLC                                  15-00679
          fka SkyMall, Inc.
       Quarles & Brady LLP
       One Renaissance Square
       Two North Central Ave.
       Phoenix, AZ 85004  

       Xhibit Corp.                                  15-00680
          fka NB Manufacturing, Inc.
       c/o Quarles & Brady LLP
       One Renaissance Square
       Two North Central Ave.
       Phoenix, AZ 85004

       Xhibit Interactive, LLC                       15-00682
          fka Xhibit, LLC  
       c/o Quarles & Brady LLP
       One Renaissance Square
       Two North Central Ave. .
       Phoenix, AZ 85004

       FlyReply Corp.                                15-00684

       SHC Parent Corp.                              15-00685
       c/o Quarles & Brady LLP
       Pne Renaissance Square
       Two North Central Ave.
       Phoenix, AZ 85004

       SpyFire Interactive, LLC                      15-00686

       Stacked Digital, LLC                          15-00687

       SkyMall Interests, LLC                        15-00688

Chapter 11 Petition Date: January 22, 2014

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Hon. Brenda K. Martin (15-00679)
       Hon. Madeleine C. Wanslee (15-00680 and 15-00685)

Debtors' Counsel: John A. Harris, Esq.
                  QUARLES & BRADY LLP
                  One Renaissance Square
                  Two N. Central Avenue
                  Phoenix, AZ 85004-2391
                  Tel: 602-229-5406
                  Fax: 602-229-5690
                  Email: john.harris@quarles.com

Debtors'          COHNREZNICK CAPITAL MARKET SECURITIES, LLC
Financial
Advisor:
                                        Estimated    Estimated
                                         Assets     Liabilities
                                       ----------   -----------
SkyMall, LLC                           $1MM-$10MM   $10MM-$50MM
Xhibit Corp.                           $100K-$500K  $100K-$500K
Xhibit Interactive, LLC                $0-$50K      $0-$50K
SHC Parent Corp.                       $0-$50K      $0-$50K

The petitions were signed by Scott Wiley, authorized signatory.

A list of SkyMall, LLC fka SkyMall's 20 largest unsecured creditors
is available for free at:

              http://bankrupt.com/misc/azb15-00679.pdf


SKYMALL LLC: Seeks Parties to Participate in Asset Auction
----------------------------------------------------------
On Jan. 22, 2015, parent company Xhibit Corp. filed for chapter 11
protection for SkyMall, LLC (Case No. 2:15-bk-00679-BKM).  The
Board determined that SkyMall's available capital resources were
insufficient to continue the business transformation that has been
underway since early 2014, and external debt and equity financing
alternatives were unavailable. Operating as Debtors-in-Possession,
SkyMall is pursuing an expedited sale under Sec. 363 of the Code.
Prior to the filing, SkyMall announced a significant reduction in
force and suspended the operation of SkyMall's retail catalog
business.  SkyMall intends to continue operating its online retail
business and other businesses, as it explores available strategic
alternatives during the bankruptcy.  The business remains a going
concern.  SkyMall is soliciting parties interested in participating
in an auction, which SkyMall is asking the Court to set on March
24, 2015 for substantially all its operations, IP, real estate, and
other assets.  The Stalking Horse role is still available.

Investment Considerations

    * Iconic brand with 25+ year track record of focusing on the
"coolest stuff on the planet"
    * Mission to deliver more than just cool stuff through
creativity, innovation, and fun
    * Reached more than 650 million airline passengers over the
past year
    * 4.6 million active email addresses, plus 2.4+ million
customer records
    * Over the past year, 75% of revenue generated online at
SkyMall.com
    * Seasoned executives committed to achieving success

For more information, please contact Jeffrey R. Manning, Managing
Director, CohnReznick Capital Markets Securities, LLC, at
410-690-8788 (office), 917-549-0312 (cell), e-mail
jeff.manning@crcms.com

CohnReznick Capital Markets Securities LLC --
http://www.reznickcapitalmarkets.com/-- is a Maryland limited
liability company.  A member of FINRA and SIPC, CRCMS is registered
as a broker dealer with the SEC.


SOLAR POWER: Agrees to Issue 2.5 Million Shares to Central Able
---------------------------------------------------------------
Solar Power, Inc., and Central Able Investments Limited, a company
incorporated under the laws of the Hong Kong Special Administrative
Region, entered into an option agreement, pursuant to which the
Company agreed to grant Central Able an option to purchase
2,500,000 shares of common stock of the Company, par value $0.0001
per share, at the exercise price of $2.00 per share for an
aggregate purchase price of $5,000,000.

Pursuant to the Option, the Company agreed to issue 2,500,000
shares of Common Stock to Central Able upon exercise in full of the
Option pursuant to the terms and conditions of the Option
Agreement.

                         About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility ("SEF") developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.

Solar Power reported a net loss of $32.2 million in 2013
following a net loss of $25.4 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $113 million
in total assets, $61.2 million in total liabilities, and
$51.7 million in stockholders' equity.

Crowe Horwath LLP, in San Francisco, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has incurred a current year net loss of $32.2
million, has an accumulated deficit of $56.1 million, has
experienced a significant reduction in working capital, has past
due related party accounts payable and a debt facility under which
a bank has declared amounts immediately due and payable.
Additionally, the Company's parent company LDK Solar Co., Ltd has
experienced significant financial difficulties including the
filing of a winding up petition on Feb. 24, 2014.  These matters
raise substantial doubt about the Company's ability to continue as
a going concern, the auditors noted.


SOLENIS INT'L: S&P Retains 'B' Rating Over $85MM Debt Add-On
------------------------------------------------------------
Standard & Poor's Ratings Services said its ratings, including its
'B' issue-level rating on Solenis International L.P.'s
euro-denominated first-lien senior secured term loan, remain
unchanged following the company's announcement of an $85 million
add-on to that loan, which is due in 2019.  S&P had assigned a 'B'
issue-level rating and a '3' recovery rating to $1.14 billion in
first-lien debt, including euro-denominated debt (U.S. dollar
equivalent of $315 million at the time of issue) on June 18, 2014.


S&P's recovery rating on the first-lien debt, including
euro-denominated debt, remains unchanged at '3', indicating
meaningful recovery (50% to 70%) if a payment default occurs.  The
add-on is being raised under the existing credit agreement.
Solenis will use proceeds to finance a bolt-on acquisition.  S&P
anticipates that the ratio of funds from operations to total debt
will remain around its expected level of about 10% in 2015, pro
forma for the modest-sized acquisition.

S&P derives its 'B' corporate credit rating on Solenis from S&P's
anchor of 'b', based on its assessments of a "fair" business risk
and "highly leveraged" financial risk profile for the company.
There is no impact from any modifier on the ratings.

RATINGS LIST

Ratings Not Affected
Solenis International L.P.
Corp credit rating            B/Stable/--
Senior secured term loan      B
Recovery rating               3



SPEEDEMISSIONS INC: Signs Addendum to DEKRA Sale Agreement
----------------------------------------------------------
Following the closing of the sale of the operating assets
comprising five of Speedemissions, Inc.'s Utah emission testing
centers to DEKRA in exchange for $1,350,000 in cash pursuant to the
terms and conditions of the Sale Agreement, the Company and DEKRA
entered into an Addendum to Sale Agreement pursuant to which the
parties agreed to, among other things, a purchase price of $350,000
for the operating assets comprising the Company's sixth Utah
emission testing center located at 4098 South Redwood Road, West
Valley, Utah subject to the satisfaction of all requisite closing
conditions as set forth in the Sale Agreement.

A full-text copy of the Addendum to Sale Agreement is available for
free at http://is.gd/UQx2Fb

                        About Speedemissions

Tyrone, Georgia-based Speedemissions, Inc., is a test-only
emissions testing and safety inspection company.

Speedimissions reported a net loss of $814,000 in 2013 and a net
loss of $656,000 in 2012.

The Company's balance sheet at Sept. 30, 2014, showed
$2.04 million in total assets, $2.36 million in total liabilities,
$4.57 million in series A convertible, redeemable preferred stock,
and a $4.89 million total shareholders' deficit.


SPEEDWAY MOTORSPORTS: Moody's Affirms Ba1 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed Speedway Motorsports, Inc.'s
(SMI) Ba1 corporate family rating (CFR) and assigned a Ba2 rating
to the proposed $200 million senior note due 2023. The outlook is
stable.

The use of proceeds of the note and a $50 million draw on its
delayed draw term loan will be used to repay the existing $250
million 6.75% senior notes due 2019 when it becomes callable in
February 2015. The ratings on the senior notes will be withdrawn
upon repayment.

The new credit facility issued in December 2014, which will not be
rated by Moody's, include a $100 million 5 year revolver, $150
million term loan A, and $50 million delayed draw term loan.

The transaction is expected to extend its debt maturity profile,
provide additional room under its financial covenants, and lead to
modest interest expense savings.

Issuer: Speedway Motorsports Inc.

  Corporate Family Rating, affirmed Ba1

  Probability of Default Rating, affirmed Ba1-PD

  $200 million proposed Senior Unsecured note due 2023,
  Assigned Ba2, LGD5

  Speculative-grade liquidity (SGL) rating upgraded to SGL-2
  from SGL-3

  Outlook Stable

Rating Rationale

SMI's Ba1 corporate family rating (CFR) reflects its strong market
position within the motor sports industry, relatively high
operating margins, revenue supported by entitlements to 13 NASCAR
Sprint Cup races and other motor sports events at 8 SMI owned
facilities, and broadcast rights under a new 10 year NASCAR
agreement starting in 2015. The new TV broadcast agreement is a
significant positive given the increase in broadcast revenue to the
company which contributes to EBITDA at a high margin level.
Broadcast revenue is anticipated to increase almost 5% in 2015. The
company also benefits from a large cash balance and good free cash
flow which has been directed in part toward debt reduction over the
past several years. Moody's expect the company will continue to
paydown significant amounts of debt over the next 12 to 18 months.

The company has suffered from declines in attendance and ticket
prices which Moody's believe are due to a weak economy and reduced
fan interest in NASCAR racing. Given the high fixed cost nature of
the business, EBITDA levels have declined over the past several
years despite annual broadcast right increases under the existing
contract ending in 2014. There is also key man risk as the current
CEO indirectly holds a majority ownership position of SMI and the
succession plan is unclear. In addition, debt-to-EBITDA leverage
(3.1x LTM 9/30/14 incorporating Moody's standard adjustments) is at
the high end for the existing CFR. Despite the declines in EBITDA,
consistent debt repayment has kept leverage in the mid 3x range in
prior years and has led to a reduction in leverage from 3.5x in Q3
2013. Moody's expect credit metrics to improve slowly through debt
reduction that will lead leverage to decline below 3x by the end of
2015.

The SGL-2 rating indicates good liquidity supported by the new $100
million revolving credit facility, a cash balance of $104 million
as of 9/30/14, and interest coverage pro-forma for the proposed
transaction of approximately 7x. SMI is projected to generate free
cash flow in 2015 of over $50 million which Moody's expect will be
used in part to paydown the term loan over the next 12 to 18 months
in addition to the 5% (or $10 million) required annual term loan
amortization payment. SMI is subject to a total leverage ratio of
3.5x which will step down to 3.25x in Q4 2015 and an interest
coverage ratio of 3.25x. Moody's anticipate that the company will
maintain a sufficient cushion of compliance.

The stable rating outlook reflects our expectation that SMI will
continue to generate good free cash flow, reduce debt, and maintain
a good liquidity position. Moody's anticipate that EBITDA will
decline modestly and continue to be pressured by weaker attendance,
but expect leverage to decline below 3x by the end of 2015 as the
company continues to reduce debt.

Given the relatively high leverage for the existing rating, the
small size of the company, and declines in admission revenues, an
upgrade is not anticipated in the near term. However, positive
admission revenue, a larger revenue base, a strong liquidity
position, and debt-to-EBITDA sustained below 1.75x with free cash
flow-to-debt above 10% after incorporating potential acquisitions
and shareholder distributions, could lead to an upgrade.

Debt-to-EBITDA leverage above 3x on a sustained basis would lead to
a downgrade. Debt-financed acquisitions, large cash distributions
to shareholders, major development projects, or a sustained decline
in profitability due to a deterioration in spectator interest in
NASCAR, extended cyclical downturn, or decline in fan attendance at
sporting events due to acts of terrorism or other disruption could
negatively affect the rating. Pressure on liquidity including
failure to maintain sufficient covenant headroom could also lead to
downward rating pressure.

Speedway Motorsports, Inc. (SMI), headquartered in Concord, NC, is
the second largest promoter, marketer and sponsor of motor sports
activities in the U.S. primarily through its ownership of eight
major race tracks. NASCAR sanctioned events account for the
majority of SMI's $482 million revenue for the LTM ended 9/30/14.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.



SPEEDWAY MOTORSPORTS: S&P Assigns 'BB+' Rating on $200MM Sr. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned Charlotte, N.C.-based
motorsports entertainment company Speedway Motorsports Inc.'s (SMI)
proposed $200 million senior unsecured notes due 2023 its BB+'
issue-level rating (the same as the 'BB+' corporate credit rating)
and '4' recovery rating.  The '4' recovery rating reflects S&P's
expectation of average (30% to 50%) recovery for lenders in the
event of a payment default.  SMI plans to use the proceeds from the
notes issuance, as well as borrowings on the credit facility and
cash on hand, to redeem all of the company's outstanding $250
million 6.75% senior unsecured notes due 2019.

In December 2014, S&P raised the corporate credit rating on SMI one
notch to 'BB+', reflecting S&P's belief that the company can
improve and will likely sustain adjusted debt to EBITDA to below 3x
in 2015, in line with an "intermediate" financial risk assessment.
S&P believes that the company will continue to use excess cash to
pay down debt balances in 2015 and for as long as ongoing uncertain
economic conditions continue to impair the company's consumer base.
However, S&P believes that modest growth in events-related and
broadcasting revenue will offset lower attendance at events and
translate into flat EBITDA in 2015.  As a result, S&P believes that
debt to EBITDA will improve to the mid-2x area and EBITDA coverage
of interest expense will be over 6x in 2015.

RATINGS LIST

Speedway Motorsports Inc.
Corporate Credit Rating                BB+/Stable/--

New Rating

Speedway Motorsports Inc.
$200 mil. notes due 2023
Senior Unsecured                       BB+
  Recovery Rating                       4



SPIRE CORP: Chief Financial Officer Robert Lieberman Quits
----------------------------------------------------------
Robert S. Lieberman notified Spire Corporation of his intention to
resign as chief financial officer and treasurer of the Company so
that he can pursue other opportunities.  According to a regulatory
filing with the U.S. Securities and Exchange Commission, the
effective date of his resignation has not yet been determined but
will not be later than Feb. 13, 2015.  Mr. Lieberman has agreed to
continue in this role for such period in order to effectuate a
smooth transition to his successor.

Until a successor is appointed, the Company's president and chief
executive officer will assume these responsibilities with the
support of the Company's finance team.

                          About Spire Corp

Bedford, Massachusetts-based Spire Corporation currently develops,
manufactures and markets customized turn-key solutions for the
solar industry, including individual pieces of manufacturing
equipment and full turn-key lines for cell and module production
and testing.

Spire Corporation reported a net loss of $8.52 million in 2013, as
compared with a net loss of $1.85 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed
$9.73 million in total assets, $15.6 million in total liabilities,
and a $5.87 million total stockholders' deficit.

McGladrey LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company incurred an operating loss from continuing operations
of $8.4 million and cash used in operating activities of
continuing operations was $5.2 million.  The Company's credit
agreement with a bank is due to expire on April 30, 2014.  These
factors raise substantial doubt about its ability to continue as a
going concern.


SPIRE CORP: Royce & Associates Reports 9.3% Stake as of Dec. 31
---------------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, Royce & Associates, LLC, disclosed that as of Dec. 31,
2014, it beneficially owned 855,923 shares of common stock of
Spire Corporation representing 9.3 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/RzN66Y

                          About Spire Corp

Bedford, Massachusetts-based Spire Corporation currently develops,
manufactures and markets customized turn-key solutions for the
solar industry, including individual pieces of manufacturing
equipment and full turn-key lines for cell and module production
and testing.

Spire Corporation reported a net loss of $8.52 million in 2013, as
compared with a net loss of $1.85 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed
$9.73 million in total assets, $15.6 million in total liabilities,
and a $5.87 million total stockholders' deficit.

McGladrey LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company incurred an operating loss from continuing operations
of $8.4 million and cash used in operating activities of
continuing operations was $5.2 million.  The Company's credit
agreement with a bank is due to expire on April 30, 2014.  These
factors raise substantial doubt about its ability to continue as a
going concern.



ST. SIMONS LODGING: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: St. Simons Lodging, LLC
        935 Beachview Drive
        St. Simons Island, GA 31522

Case No.: 15-20046

Type of Business: The Debtor is the owner of the Ocean Lodge Hotel
                  on St. Simons Island, Georgia.

Chapter 11 Petition Date: January 22, 2015

Court: United States Bankruptcy Court
       Southern District of Georgia (Brunswick)

Judge: Hon. John S. Dalis

Debtor's Counsel:    John A. Christy, Esq.
                     Carole T. Hord, Esq.
                     SCHREEDER, WHEELER & FLINT, LLP
                     1100 Peachtree Street, N.E.
                     Suite 800, Atlanta, Georgia
                     Tel: 30309-4516
                     Email: jchristy@swfllp.com
                            chord@swfllp.com

Debtor's Co-Counsel: Amanda Fordham Williams, Esq.
                     AMANDA F. WILLIAMS, ATTORNEY AT LAW
                     5 St Andrews Court
                     Brunswick, GA 31520
                     Tel: 912-289-2482
                     Fax: 912-264-3685
                     Email: eamandawilliams@gmail.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Joseph N. McDonough, manager.

The Debtor did not include a list of its largest unsecured
creditors when it filed the petition.


TASEKO MINES: S&P Lowers Corp. Credit Rating to 'B-'; Outlook Neg.
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit and issue-level ratings on British Columbia-based
copper producer Taseko Mining Ltd. to 'B-' from 'B'.  The outlook
is negative.  The '3' recovery rating on the company's unsecured
notes is unchanged and reflects our view of meaningful (50%-70%)
recovery in a simulated default scenario.

"The downgrade reflects our expectation that Taseko will generate
weaker–than-expected cash flow over the next two years, and
follows the downward revision of our copper price assumptions over
this period to US$2.70 per pound from US$3.10 per pound," said
Standard & Poor's credit analyst Jarrett Bilous.

Based on S&P's revised earnings and cash flow estimates, it expects
Taseko will generate an adjusted debt-to-EBITDA ratio well above 5x
through 2015, which breaches S&P's previous downside rating
trigger.  

Standard & Poor's now views Taseko's financial risk profile as
"highly leveraged," with no change in its "vulnerable" business
risk profile on the company, resulting in a 'b-' anchor score and
final rating of 'B-'.  S&P revised its financial risk assessment to
"highly leveraged" from "aggressive" primarily to reflect its view
of the company's weaker cash flow prospects through next year and
corresponding negative impact on Taseko's core ratios and liquidity
assessment.  The company's business risk profile remains
"vulnerable" given Taseko's limited operating diversity and high
cash costs, which increase its susceptibility to market
fluctuations and unexpected production disruptions.

The negative outlook reflects the possibility of a downgrade if
Taseko's liquidity deteriorates significantly through 2015, which
S&P believes could result from continuing copper price weakness,
sustained cash cost pressure, or operational disruptions.  S&P
estimates that Taseko has sufficient liquidity to fund expected
cash outflows through 2016.

S&P would lower the rating again if Taseko's liquidity position
deteriorates to a point where S&P believes the company may not be
able to fund its financial commitments over the next 12-18 months.
In this scenario, S&P would expect average copper prices to be
about in line with or lower than its current assumption, along with
sustained or intensified cost pressure, or operational
disruptions.

A positive rating action could result from an improvement in S&P's
liquidity assessment to "adequate," which S&P assumes would require
a sustained increase in average copper prices above S&P's current
base-case assumptions alongside a sustained improvement in Taseko's
cash cost of production.



TOMAHAWK RESOURCES: Files for Chapter 11 Bankruptcy Protection
--------------------------------------------------------------
Sergio Chapa at San Antonio Business Journal reports that Tomahawk
Resources LLC filed for Chapter 11 bankruptcy protection in the
U.S. Bankruptcy Court for the Western District of Texas on Jan. 22,
2015.

Tomahawk Resources President Jerome Richter said in a statement
that at least 14 creditors were listed.

Business Journal relates that William Davis, Esq., who has an
office in Albuquerque, New Mexico, serves as Tomahawk Resources'
bankruptcy counsel.

According to public records, the Texas Commission on Environmental
Quality fined Tomahawk Resources $8,908 back in October 2014 for
improperly disposing of waste at its facility on State Highway 44
west of Corpus Christi.

Headquartered in Andrews, Texas, Tomahawk Resources LLC provides
logistics for oil and natural gas fields inside the Eagle Ford
Shale and the Permian Basin.


VERITEQ CORP: Iliad Research Reports 9.9% Stake as of Jan. 23
-------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Iliad Research & Trading, L.P., and its
affiliates disclosed that as of Jan. 23, 2015, they beneficially
owned 21,764,094 shares of common stock of Veriteq Corporation
representing 9.99 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/QO2ZzT

                           About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ --
http://www.veriteqcorp.com/-- offers the world's first FDA
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.

Veriteq Corporation reported a net loss of $15.07 million on
$18,000 of sales for the year ended Dec. 31, 2013, as compared
with a net loss of $1.60 million on $0 of sales for the year ended
Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $6.77 million in total
assets, $14.0 million in total liabilities, and a $7.18 million
stockholders' deficit.

EisnerAmper LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has incurred recurring net losses, and at Dec. 31,
2013, had negative working capital and a stockholders' deficit.
These events and conditions raise substantial doubt about the
Company's ability to continue as a going concern.


VERTICAL COMPUTER: Amends Report on Patent Disclosure
-----------------------------------------------------
On Jan. 20, 2014, Vertical Computer Systems, Inc., filed a current
report on Form 8-K to, among other things, disclose events
pertaining to its patents.  The following day, the Company filed an
amended Form 8-K to correct certain references concerning U.S.
Patent No. 6,826,744 and certain continuation patents.

Vertical Computer Systems received notice from the United States
Patent and Trademark Office that a continuation patent would be
issued by the USPTO on Feb. 3, 2015.  The continuation patent will
be issued as United States Patent No. 8,949,780 and is a
continuation of U.S. Patent No. 7,716,629, which is a continuation
patent of U.S. Patent No. 6,826,744.  Collectively, they form the
underlying patents under the Company's SiteFlash and
SiteFlash-derived products

In addition, the Company has retained the law firm of Davidoff
Hutcher & Citron LLP on a contingency basis to act in connection
with the licensing of the Patents,

Collectively, these Patents are a system and method for generating
computer applications in an arbitrary object framework.  The method
separates content, form, and function of the computer application
so that each may be accessed or modified separately. The method
includes creating arbitrary objects, managing the arbitrary objects
throughout their life cycle in an object library, and deploying the
arbitrary objects in a design framework for use in complex computer
applications.

                      About Vertical Computer

Richardson, Tex.-based Vertical Computer Systems, Inc., is a
multinational provider of Internet core technologies, application
software, and software services through its distribution network
with operations or sales in the United States, Canada and Brazil.

Vertical Computer reported a net loss applicable to common
stockholders of $3.08 million in 2013 following a net loss
applicable to common stockholders of $2.07 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $1.01
million in total assets, $17.5 million in total liabilities,
$9.90 million in convertible cumulative preferred stock, and a
$26.4 million total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that the
Company suffered net losses and has a working capital deficiency,
which raises substantial doubt about its ability to continue as a
going concern.


VIGGLE INC: Appoints SFX as Exclusive Sales Agent
-------------------------------------------------
Viggle Inc. disclosed in a Form 8-K filed with the U.S. Securities
and Exchange Commission that it entered into a sales agency
agreement with SFX-94 LLC, a subsidiary of SFX Entertainment, Inc.,
pursuant to which the Company appoints SFX as its exclusive sales
agent for the sale of advertising and sponsorships.  

Pursuant to the Sales Agreement, the Company consents to SFX's
hiring of 25 members of the Company's sales team, and SFX agrees
that it will sell advertising and sponsorships on behalf of Viggle
during the term of the Sales Agreement.  The Agent agrees that it
will maintain adequate staffing levels, generally consistent with
staffing levels currently maintained by the Company, for the
Company's sale of advertising and sponsorships.  The Company will
pay SFX a 25% commission on sales made by SFX.  For barter
transactions, the Company will reimburse SFX for any out of pocket
and direct costs incurred by SFX with respect to those barter sales
(rather than the commission), and third party ad networks will be
excluded from the Sales Agreement.

The Sales Agreement will have a three-year term, and can be
terminated by the Company on 90 days' notice.

As previously been reported, the Company and SFX Entertainment,
Inc., are parties to a shared services agreement, pursuant to which
Viggle provided certain services to SFX Entertainment and was
reimbursed for such costs by SFX Entertainment, subject to
reimbursement based on salary and benefits for the employees
providing the services, plus 20% for miscellaneous overhead, based
on a reasonable estimate of time spent.  The Company entered into
an amendment to the Shared Services Agreement on Jan. 22, 2015,
pursuant to which the Company may provide additional services to
SFX Entertainment, and SFX Entertainment may provide certain
services to the Company.  In particular, the Shared Services
Agreement provides that, in addition to services already provided,
certain employees of the Company may provide human resources,
content and programming, and facilities services to SFX
Entertainment. Inc., subject to reimbursement based on salary and
benefits for the employees providing the services, plus 20% for
miscellaneous overhead, based on a reasonable estimate of time
spent.  In addition, the Amendment provides that SFX Entertainment
may provide certain tax, accounting, financial accounting services
to the Company, subject to reimbursement based on salary and
benefits for the employees providing the services, plus 20% for
miscellaneous overhead, based on a reasonable estimate of time
spent.

On Jan. 22, 2015, Greg Consiglio, the Company's president and chief
operating officer, entered into an agreement with SFX to serve as
its president and chief operating officer.  Mr. Consiglio will
remain president and chief operating officer of the Company. Mr.
Consiglio's employment agreement with the Company has been amended
to provide that he will be able to serve in both those roles.  The
agreement provides that Mr. Consiglio will devote his full-time
best efforts and business time and attention to the Company,
subject to his also fulfilling his responsibilities as president
and chief operating officer of SFX.  The terms of the sharing of
Mr. Consiglio's full time will be subject to monitoring by the
respective Boards of Directors or a committee of disinterested
members of the respective Boards of Directors.  Mr. Consiglio also
agrees that he will report conflicts of interest and corporate
opportunities to the Boards of both the Company and SFX
Entertainment.

The amendment to Mr. Consiglio's employment agreement further
provides that, in lieu of payment of a $250,000 guaranteed amount
currently contemplated in his employment agreement, Mr. Consiglio
will receive a grant of 200,000 restricted shares of Company common
stock, half of which will vest on the date of grant and the other
half of which will vest on May 5, 2015, subject to his still being
employed by the Company and providing services to the Company on
that date.

On Jan. 22, 2015, Kevin Arrix, the Company's chief revenue officer,
entered into an agreement with SFX to serve as its executive vice
president, Global Brand Partnerships.  In connection therewith, his
employment agreement with the Company has been amended to provide
that he will be able to serve in both such roles.  Mr. Arrix's
employment agreement with the Company has been amended to provide
that he will be able to serve in both such roles.  The agreement
provides that Mr. Arrix will devote his full-time best efforts and
business time and attention to the Company, subject to his also
fulfilling his responsibilities to SFX Entertainment.  The terms of
the sharing of Mr. Arrix's full time will be subject to monitoring
by the respective Boards of Directors or a committee of
disinterested members of the respective Boards of Directors.  Mr.
Arrix also agrees that he will report conflicts of interest and
corporate opportunities to the Boards of both the Company and SFX
Entertainment.

Additionally, the amendment to Mr. Arrix's employment agreement
provides that, in lieu of payment of a $250,000 guaranteed amount
currently contemplated in his employment agreement, he will receive
a grant of 100,000 restricted shares of Company common stock, half
of which will vest immediately and the other half of which shall
vest on May 15, 2015.

In connection with these appointments, the Company has implemented
an internal re-organization.  In recognition of longstanding
service to the business, John Small, the Company's chief financial
officer, and Kyle Brink, the Company's SVP of product development,
will each have expanded roles in the Company.  Mr. Small will now
also oversee Business Development, Rewards, Choose Digital and
Content Development.  In addition to Product Development, Mr. Brink
will will also oversee Creative, Design and Customer Experience.
Both Mr. Small and Mr. Brink will continue to report to Mr.
Consiglio.

Because the transactions were between the Company and SFX, a
company controlled by Robert F.X. Sillerman, who is the executive
chairman and chief executive officer of the Company, the Company
formed a special committee of independent directors to review the
proposed transactions.  The special committee reviewed and
unanimously approved entering into the Sales Agreement, the
amendment to the Shared Services Agreement, the amendments to the
employment agreements of Mr. Consiglio and Mr. Arrix, and the
actions taken in connection therewith.

                            About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VIGGLE INC: Obtains Additional $2-Mil. Loan from CEO
-----------------------------------------------------
Robert F.X. Sillerman, the executive chairman and chief executive
officer of Viggle Inc. made an unsecured demand loan to the Company
totaling $2 million, bearing interest at the rate of 12% per annum.
As previously reported in the Current Report on Form 8-K filed by
the Company on Dec. 24, 2014, Mr. Sillerman had previously made an
unsecured demand loan to the Company of $2 million on Dec. 19,
2014.  Therefore, the outstanding principal amount of the Loans is
$4 million.

The Company intends to use the proceeds from the New Loan to fund
working capital requirements and for general corporate purposes.
Because Mr. Sillerman is a director, executive officer and greater
than 10% stockholder of the Company, a majority of the Company's
independent directors approved the transaction.

                            About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VISCOUNT SYSTEMS: Obtains C$234,000 from Private Placement
----------------------------------------------------------
Viscount Systems, Inc., completed a private placement of 2,925,000
shares of common stock at a price of C$0.08 per share for total
proceeds of C$234,000.  The Company also issued a total of
1,462,500 warrants, each warrant exercisable to acquire an
additional share of the Company at an exercise price of C$0.16 per
share for a period of five years from the closing date.  The
warrants may be exercised on a cashless basis.

The securities were sold to an accredited investor pursuant to the
exemptions from registration under Rule 506 of Regulation D,
promulgated under the United States Securities Act of 1933.

                      About Viscount Systems

Burnaby, Canada-based Viscount Systems, Inc., is a manufacturer,
developer and service provider of access control security
products.

The Company's bank credit facility was suspended on December 30,
2011 due to the bank's assessment of the Company's financial
position.  Management has determined that the Company will need to
raise a minimum of C$500,000 by way of new debt or equity
financing to continue normal operations for the next twelve
months.  Management has been actively seeking new investors and
developing customer relationships, however a financing arrangement
has not yet completed.  Short-term loan financing is anticipated
from related parties, however there is no certainty that loans
will be available when required.  These factors raise substantial
doubt about the ability of the Company to continue operations as a
going concern.

Dale Matheson Carr-Hilton LaBonte LLP expressed substantial doubt
about the Company's ability to continue as a going concern, citing
that the Company has an accumulated deficit of C$11.7 million for
the year ended Dec. 31, 2013.  The Company requires additional
funds to meet its obligations and the costs of its operations.

The Company reported a net loss of C$3.08 million on
C$4.13 million of sales in 2013, compared with a net loss of
C$2.68 million on C$3.6 million of sales in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $2.14
million in total assets, $5.74 million in total liabilities and a
$3.59 million total stockholders' deficit.


VOYAGEUR ACADEMY: S&P Lowers Rating to 'B-'; Outlook Stable
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating to 'B-' from
'B' and removed the rating from CreditWatch on Michigan Finance
Authority's series 2011 public school academy limited obligation
revenue bonds issued for Voyageur Academy.  The outlook is stable.

"The rating reflects our view that, despite a level of stability at
the school under new management and a slight improvement in
financial operations in fiscal 2014, we still believe there are
significant weaknesses that pressure the rating," said Standard &
Poor's credit analyst Ashley Ramchandani.  "These factors include
potential enrollment declines and the general uncertainty about
demand in Detroit, a lack of proven academic results, uncertainties
about the length of the charter renewal, and the use of a
forbearance agreement to draw down the debt service reserve this
year coupled with the possibility of additional draws in the future
that would require continual cooperation and support from
bondholders," added Ms. Ramchandani.

A new management company, American Promise Schools, was brought on
to replace The Leona Group LLC and officially started on July 1,
2014.  At that time, the authorizer, Ferris State University, also
issued a one-year contract of reauthorization, expiring June 2015,
that was conditional upon fulfillment of a Plan of Correction by
the Voyageur board.  The board has since fulfilled the items on the
Plan of Correction, and the school is currently working through the
renewal process with the authorizer.  The charter is expected to be
renewed, but S&P is currently uncertain of the length of the
renewal.

On Dec. 5, 2014, Voyageur Academy entered into a forbearance
agreement, whereby approximately $236,137 would be drawn from the
debt service reserve fund to pay the difference between the maximum
20% of state aid that is allowed to be used for debt service and
the total facilities cost, which includes debt service on the
series 2011 bonds and the elementary school lease.



WAFERGEN BIO-SYSTEMS: James Besser Holds 8.5% Stake at Dec. 31
--------------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, James E. Besser reported that as of Dec. 29, 2014, he
beneficially owned 499,350 shares of common stock of WaferGen
Bio-systems, Inc., representing 8.5 percent of the shares
outstanding.  
Manchester Management Company, LLC, also held 489,350 shares as of
that date.  A copy of the regulatory filing is available at:

                       http://is.gd/p9FXZm

                    About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen reported a net loss attributable to common stockholders
of $17.7 million in 2013, following a net loss attributable to
common stockholders of $8.97 million in 2012.

SingerLewak LLP, in San Jose, California, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that the
Company has incurred operating losses and negative cash flows from
operating activities since inception which raise substantial doubt
about the Company's ability to continue as a going concern.


WEST BRANCH REGIONAL: S&P Alters Ratings Outlook to Stable
----------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its 'BB-' long-term rating on West
Branch Regional Medical Center, Mich.'s $8.945 million series 1999
mortgage revenue and refunding bonds.

"The outlook revision incorporates our view of West Branch's recent
improvement in operating losses, combined with stable unrestricted
reserves and our anticipation that reserves will continue to grow
along with operations, given management's anticipation of limited
capital expenditures and lack of debt plans," said Standard &
Poor's credit analyst Kevin Holloran.



WET SEAL: Has Interim Approval of $18.3MM DIP Loan From BofA
------------------------------------------------------------
Pursuant to an order of the Bankruptcy Court dated Jan. 20, 2015,
The Wet Seal, Inc., and its affiliated debtors were authorized to
enter into and draw upon the Senior Secured, Super-Priority
Debtor-in-Possession Letter of Credit Agreement, dated as of
Jan. 15, 2015 -- DIP LC Agreement -- by and among the Debtors and
Bank of America, N.A., as L/C Issuer, on an interim basis, subject
to the satisfaction of customary conditions precedent thereto.

The DIP LC Agreement provides for a senior secured, super-priority
debtor-in-possession letter of credit facility of up to
approximately $18.3 million on the closing date of the DIP LC
Financing.

On such date, the parties also agreed that the final borrowing
order from the Bankruptcy Court approving the DIP LC Financing must
be entered on or prior to Feb. 17, 2015.

The DIP LC Financing will be comprised of approximately $10.8
million of letters of credit outstanding under the Company's
Amended and Restated Credit Agreement dated as of February 3, 2011
-- Prepetition Credit Agreement -- with the Debtors, Bank of
America, N.A., as the administrative agent, collateral agent, L/C
issuer and swing line lender, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, as sole lead arranger and sole bookrunner, and the
other lenders party thereto, and up to $7.5 million of additional
letters of credit that may be issued under the DIP LC Agreement.
Additional letters of credit will be available to the Debtors under
the DIP LC Agreement until the earliest of (i) April 30, 2015, (ii)
the date on which the maturity of the obligations under the DIP LC
Agreement are accelerated and the commitment and the L/C Issuer's
obligation to issue letters of credit thereunder is terminated,
(iii) the date on which a sale of substantially all of the assets
or equity of the Debtors is consummated, or (iv) the effective date
of a plan of reorganization of the Debtors.

A letter of credit fee on the outstanding stated amount of letters
of credit under the DIP LC Financing will be payable monthly in
arrears at a per annum rate equal to 2.50%. The Debtors shall also
pay to the L/C Issuer a closing fee. The Debtors shall pay to the
L/C Issuer a commitment fee equal to 0.50% multiplied by the actual
daily amount by which the commitment under the DIP LC Agreement
exceeds the outstanding amount of obligations thereunder and shall
be payable monthly in arrears. Upon an event of default, all
obligations under the DIP LC Agreement shall bear interest at a
rate equal to the then current rate plus an additional 2% per
annum.

The cash collateral on deposit under the Prepetition Credit
Agreement shall be deemed held under the DIP LC Agreement, each
additional letter of credit issued under the DIP LC Agreement will
be cash collateralized in an amount equal to 103% of the face
amount of such letter of credit and the DIP LC Financing will be
secured by a first priority perfected security interest in such
cash collateral securing the repayment of all letters of credit
issued, or deemed issued, under the DIP LC Agreement, which cash
collateral will be subject to release upon the satisfaction of the
conditions set forth in the DIP LC Agreement. The DIP LC Financing
is subject to certain covenants, including, without limitation,
related to liens and certain bankruptcy related covenants, as set
forth in the DIP LC Agreement. The DIP LC Financing is subject to
certain events of default, including, without limitation, payment
defaults, cross-defaults to other indebtedness and certain
bankruptcy related defaults, in each case as set forth in the DIP
LC Agreement.

In connection with the DIP LC Financing, the Debtors entered into a
Pledge and Security Agreement with Bank of America, N.A., as L/C
Issuer and Pre-Petition Agent.

A copy of the BofA DIP Agreement is available at
http://is.gd/GTDjsn

                          About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081 to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.



WET SEAL: Has Interim Approval of $20MM DIP Loan From B. Riley
--------------------------------------------------------------
The Wet Seal, Inc., and its affiliated debtors, pursuant to an
order of the Bankruptcy Court dated Jan. 20, 2015, were authorized
to enter into and draw upon a senior secured, super-priority credit
facility on an interim basis, subject to the satisfaction of
customary conditions precedent thereto.

B. Riley Financial, Inc., serves as DIP Lender under the Senior
Secured, Super-Priority Debtor-in-Possession Credit Agreement,
dated as of Jan. 15, 2015.  The DIP Financing Agreement provides
for a senior secured, super-priority credit facility of up to $20.0
million on the closing date of the DIP Financing, and the
availability of which is reduced by an $5.0 million availability
block, which Availability Block is subject to reduction at the sole
discretion of the Lender. Loans under the DIP Financing will be
capped at the lesser of this commitment and a borrowing base (which
is subject to reserves) and prior to the later of the entry of a
final borrowing order by the Bankruptcy Court and approval of an
initial budget by the Lender, availability under the DIP Financing
will be limited to $1.0 million.

The parties have agreed to amend the maturity date and the terms of
the payment of the commitment fee under the DIP Financing
Agreement.

The Debtors anticipate using the proceeds of the DIP Financing
primarily for (i) purposes permitted by orders of the Bankruptcy
Court, including ongoing debtor-in-possession working capital
purposes, (ii) the payment of fees, costs and expenses, and (iii)
other general corporate purposes, in each case, only to the extent
permitted under applicable law, the DIP Financing Agreement, the
orders of the Bankruptcy Court, and in accordance with the approved
budget, and further subject to certain exceptions as set forth in
the DIP Financing Agreement.

The maturity date of the DIP Financing is the earlier of (a) Feb.
17, 2015, unless the final borrowing order will have been entered
by the Bankruptcy Court on or before such date, in which case such
maturity date shall mean May 15, 2015 unless otherwise extended by
the Lender in its discretion, and (b) the date on which B. Riley
Financial, Inc. terminates a Plan Sponsorship Agreement entered
into between the Debtors and the Plan Sponsor on Jan. 15, 2015.

Interest on the outstanding principal amount of loans under the DIP
Financing shall be payable monthly in arrears and on the maturity
date at a per annum rate equal to 10.25%.  The Debtors shall pay to
the Lender a commitment fee equal to (i) on the date which is the
earlier of (x) the first draw under the DIP Financing Agreement
after entry of a final borrowing order by the Bankruptcy Court
approving the DIP Financing and (y) entry of a final borrowing
order by the Bankruptcy Court approving debtor-in-possession
financing other than the DIP Financing or the DIP LC Financing
(provided that if neither event occurs, such fee shall not be
payable), (a) 2.50% multiplied by (b) an amount equal to the
remainder of $20.0 million minus the Availability Block then in
effect, and (ii) on any date on which the Lender reduces the
Availability Block, (a) 2.50% multiplied by (b) the amount of such
reduction.

Additionally, the parties agreed that in the event the Company
terminates the Plan Sponsorship Agreement and is obligated to pay a
break-up fee to the Plan Sponsor as required by the Plan
Sponsorship Agreement, such commitment fee may be credited against
the break-up fee payable to the Plan Sponsor.  Upon an event of
default, all obligations under the DIP Financing Agreement shall
bear interest at a rate equal to the then current rate plus an
additional 2% per annum.

Pursuant to the terms of the DIP Financing Agreement, the domestic
subsidiaries of the Company which are not borrowers under the DIP
Financing will guarantee the obligations of the borrowers under the
DIP Financing. Subject to certain exceptions, the DIP Financing
will be secured by a first priority perfected security interest in
substantially all of the assets of the Debtors, including control
over certain of the Debtors' deposit accounts. The security
interests and liens are subject only to certain carve outs and
permitted liens, as set forth in the DIP Financing Agreement.  The
DIP Financing is subject to certain covenants, including, without
limitation, related to the incurrence of additional debt, liens,
the making of restricted payments and the deposit of the Company's
cash into a blocked account if the Company's liquidity is below
$5.0 million, the Company's failure to comply with the approved
budget and certain bankruptcy related covenants, in each case as
set forth in the DIP Financing Agreement. The DIP Financing is
subject to certain prepayment events, including, without
limitation, upon the sale of certain assets, and certain events of
default, including, without limitation, payment defaults,
cross-defaults to other indebtedness, certain bankruptcy related
defaults and the failure of Edmond S. Thomas to continue to serve
as the chief executive officer of the Company, in each case as set
forth in the DIP Financing Agreement.

A copy of the B. Riley DIP Agreement is available at
http://is.gd/iENTYc

B. Riley may be reached at:

     Steven H. Reiner, Managing Director
     B. RILEY & CO., L.L.C.
     11100 Santa Monica Blvd., Suite 800
     Los Angeles, CA 90025
     E-mail: sreiner@brileyco.com

B. Riley is represented by:

     Van C. Durrer, II, Esq.
     SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
     300 South Grand Avenue, Suite 3400
     Los Angeles, CA 90071
     E-mail: Van.Durrer@skadden.com

                          About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081 to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.



WET SEAL: Lender Wants Plan Approval by April 30, Exit by May 15
----------------------------------------------------------------
As part of the Chapter 11 filing of The Wet Seal, Inc., and its
affiliates, the Debtors and B. Riley Financial, Inc., which is
providing DIP financing, also entered into a Plan Sponsorship
Agreement dated January 15, 2015.

The Parties agreed to these deadlines:

   January 15, 2015    The Company shall (A) commence the
                       Bankruptcy Case in the United States
                       Bankruptcy Court for the District of
                       Delaware, and (B) file a motion to
                       approve the Company's assumption of the
                       Plan Sponsorship Agreement;

   February 6, 2015    The Company shall (A) obtain entry of
                       an order by the Bankruptcy Court
                       approving assumption of this Agreement
                       and specifically approving the allowance
                       and payment of certain fee and expenses of
                       the Sponsor as administrative expenses
                       consistent with section 2(d)(iv) hereof
                       (the "PSA Order"), (B) provide a list to
                       the Sponsor reflecting all executory
                       contracts necessary or desirable for the
                       operation of the Company's business and
                       unexpired leases to which the Company is a
                       party, along with a list of any and all
                       projected cure and reinstatement costs or
                       expenses of or relating to the potential
                       assumption of each Contract and Lease, and
                       (C) file a reorganization plan that is
                       consistent with the terms set forth in this
                       Agreement and/or is otherwise reasonably
                       acceptable to the Sponsor and the Company
                       and an accompanying disclosure statement;

   February 20, 2015   The Company shall provide any supplements
                       to the list of Contracts, including
                       associated Cure Costs;

   March 20, 2015      The Company shall obtain entry of an order
                       by the Bankruptcy Court approving the
                       Disclosure Statement and granting related
                       relief, including, without limitation,
                       approval of applicable solicitation
                       procedures;

   April 1, 2015       Sponsor shall deliver to the Company a list
                       of designated Contracts and Leases to be
                       assumed on the Effective Date pursuant to
                       the Plan;

   April 7, 2015       The Company shall deliver a notice to each
                       of the counterparties of the Designated
                       Contracts providing each such counterparty
                       with notice that the respective Designated
                       Contract may be assumed by the Company
                       subject to payment of the estimated Cure
                       Cost, and informing such counterparty that
                       objections to the proposed assumption,
                       including objections to the estimated Cure
                       Cost must be filed with the Bankruptcy
                       Court and submitted to the Parties no later
                       than 4:00 p.m. prevailing Eastern time on
                       April 21, 2015;

   April 10, 2015      The Sponsor shall deliver to the Company
                       the new charter, bylaws, and stockholders
                       agreement of the Reorganized Company, as
                       well as the members of the board of
                       directors of the Reorganized Company
                       accompanied by any disclosures required by
                       Bankruptcy Code section 1129(a)(5) in
                       connection therewith;

   April 15, 2015      The Company shall file a supplement to the
                       Plan (A) setting forth the Designated
                       Contracts as well as the estimated Cure
                       Cost for each such Designated Contract,
                       (B) attaching the new charter, bylaws, and
                       stockholders agreement of the Reorganized
                       Company, and (C) identifying the members
                       of the board of directors of the
                       Reorganized Company;

   April 30, 2015      The Company shall (A) obtain entry of an
                       order by the Bankruptcy Court confirming
                       the Plan, and (B) obtain entry of an order
                       of the Bankruptcy Court authorizing and
                       approving the assumption of the Designated
                       Contracts (excluding any Designated
                       Contracts which are the subject of
                       outstanding Assumption Objections pursuant
                       to section 2(f)) and fixing the Cure Costs
                       for the Designated Contracts; and any
                       Company Party to a case under chapter 7 of
                       the Bankruptcy Code, or (D) dismissing the
                       Bankruptcy Case of a Company Party.

The effective date of the Plan must occur as soon as practicable
but in no event later than May 15, 2015.

Wet Seal acknowledges and agrees that the Sponsor would not have
undertaken the obligations set forth in the PSA without the
Company's commitment to pay a Break-Up Fee. In the event that the
Company chooses to terminate the PSA -- provided that the Sponsor
is not in material breach of the Agreement -- the Company will pay
to the Sponsor a break-up fee in the amount of $1,000,000 plus the
Sponsor's reasonable out-of-pocket fees and expenses.  The Company
expressly acknowledges that the Break-Up Fee is an actual and
necessary cost and expense of preserving the estates under section
503 of the Bankruptcy Code and must therefore be allowed and paid
as an administrative expense in the Bankruptcy Case, and the PSA
Order shall so provide.

A copy of the PSA is available at http://is.gd/Aobrry

                          About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081 to
15-10084) on January 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.


WET SEAL: Meeting to Form Creditors' Panel Set for Jan. 30
----------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on Jan. 30, 2015, at 10:00 a.m. in the
bankruptcy case of The Wet Seal, Inc.

The meeting will be held at:

         The DoubleTree Hotel
         700 King St.
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.  Section 1103 of the
Bankruptcy Code provides that the Committee may consult with the
debtor, investigate the debtor and its business operations and
participate in the formulation of a plan of reorganization.  The
Committee may also perform other services as are in the interests
of the unsecured creditors whom it represents.

                      About Wet Seal

The Wet Seal, Inc. -- http://www.wetsealinc.com/-- is a specialty
retailer of fashionable and contemporary apparel and accessory
items.  The Company was incorporated in Delaware and is
headquartered in Foothill Ranch, California.

The Wet Seal, Inc., together with three other affiliates, has filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the District of Delaware
(Bank. D. Del. Case Nos. 15-10081 to 15-10084) on Jan. 15, 2015.
The petitions were signed by Thomas R. Hillebrandt as interim chief
financial officer.  

Young Conaway Stargatt & Taylor, LLP; Klee, Tuchin, Bogdanoff &
Stern LLP; and Paul Hastings, LLP, serve as the Debtors' counsel.
FTI Consulting acts as the Debtors' restructuring advisor while
Houlihan Lokey serves as investment banker.  Donlin, Recano & Co.,
Inc., is the Debtors' claims and noticing agent.  The Debtors
disclosed total assets of $92.8 million and debts of $103.4 million
as of Nov. 1, 2014.  The cases are assigned to Judge Christopher S.
Sontchi.


WET SEAL: Securities to Be Delisted From Nasdaq
-----------------------------------------------
The Wet Seal, Inc., on January 16, 2015, received a notification
letter from The Nasdaq Stock Market LLC indicating that in
accordance with Listing Rules 5101, 5110(b), and IM-5101-1, NASDAQ
had determined that the Company's securities will be delisted from
The Nasdaq Stock Market, and that, unless the Company appeals the
determination, trading of the Company's Class A common stock will
be suspended at the opening of business on January 27, 2015 and a
Form 25-NSE will be filed with the Securities and Exchange
Commission which will remove the Company's common stock from
listing and registration on The Nasdaq Stock Market.

NASDAQ's determination was based on (i) the Company's previously
disclosed Chapter 11 bankruptcy filing and the resulting public
interest concerns raised, (ii) concerns regarding the residual
equity interest of the existing listed securities holders and (iii)
concerns about the Company's ability to regain and maintain
compliance with all of requirements for continued listing on The
Nasdaq Stock Market.

The Company does not intend to appeal the delisting determination.
As a result, it is expected that the Company's Class A common stock
will be delisted from The Nasdaq Stock Market.

                          About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081 to
15-10084) on January 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.


WILLISTON STATE COLLEGE: S&P Lowers 2010 Bonds Rating to 'BB'
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
underlying rating (SPUR) three notches to 'BB' from 'BBB' on North
Dakota State Board of Higher Education's series 2010 taxable
housing and auxiliary facilities revenue bonds (recovery zone
economic development bonds [RZEDBs]), issued for Williston State
College (WSC).  The outlook is stable.

"The downgrade reflects our view of WSC's fiscal year-end 2014
(unaudited financials as of June 30) operating results for its
housing and auxiliary facilities system," said Standard & Poor's
credit analyst Shivani Singh, "with substantially weakened debt
service coverage (DSC)."  The weaker DSC was at 0.59x in fiscal
2014 relative to 1.17x coverage in fiscal 2013 (excluding the RZEDB
federal subsidy pledged to bondholders, which we exclude from our
calculations given their uncertain amounts and timing). The weak
operating performance of the housing and auxiliary facilities
system in fiscal 2014 is due to revenue decreases that were
substantially lower than management's projections.

Per the series 2010 general bond resolution, the college covenants
that pledged revenues will equal at least 1.15x the annual debt
service of the series 2010 bonds.

"The stable outlook reflects our expectation that over the next
year, debt service payments (principal and interest) on the series
2010 bonds will be made on time, no draws will be made on the debt
service reserve fund (DSRF) securing the bonds, and DSC (excluding
the RZEDB subsidy payment) will improve from fiscal 2014 levels,"
said Ms. Singh.  S&P also expects WSC's enrollment will remain
stable, and its financial operations will be balanced at least on a
cash basis. Our outlook does not factor in any additional debt and
S&P expects WSC's financial resource ratios to remain similar to
fiscal 2014 levels.

In S&P's view, a failure to make debt service payments (principal
and interest) on time, draws on the DSRF, coupled with a
deterioration in the DSC from fiscal 2014 levels, could lead S&P to
lower the rating.  A positive rating action is unlikely, in S&P's
view, without a material improvement in DSC (excluding the RZEDB
subsidy payment) to levels that exceed the 1.15x covenant.



XTREME POWER: New Owner of Grove Plant to Hire 423 Workers
----------------------------------------------------------
Grove Battery Manufacturing LLC will add 423 jobs at the Grove
Battery facility formerly owned by Xtreme Power Inc., as part of
the 10-year contract with the state's Quality Jobs Program, the
Oklahoma Department of Commerce said in a statement.

"We are taking over operations from the previous owner and reaching
out to their former employees.  They had excellent people, and we
will begin hiring this month on a permanent basis," D. Ray Tuttle
at The Associated Press quoted Grove Battery President Benny E. Jay
as saying.

According to the AP, Mr. Jay said, "We expect to announce
resumption of Grove Battery plant operations under new ownership
later this month."

The AP recalls that Xtreme Power was forced to close the plant in
November 2012 due to low demand.  According to The AP, Mr. Jay said
that bankruptcy talks took about six months, and during the last
half of 2014, Grove Battery officials started preparing the
facility, Jay said.

                       About Xtreme Power

Founded in November 2006, Xtreme Power Inc. and its affiliates
designed, installed, and monitored energy storage and power
management systems.  Xtreme Power was headquartered in Kyle,
Texas, with operations throughout the U.S.

Xtreme Power Inc. and two affiliates filed Chapter 11 bankruptcy
petitions (Bankr. W.D. Tex. Lead Case No. 14-10096) in Austin,
Texas, on Jan. 22, 2014.  Judge Christopher H. Mott presides over
the case.

The Debtors have tapped Shelby A. Jordan, Esq., at Jordan, Hyden,
Womble, Culbreth & Holzer, P.C., as bankruptcy counsel.  The
Debtors engaged Gordian Group, LLC, as investment banker and
financial advisor.  In addition, Baker Botts LP is serving as
special counsel for transactions; Bracewell & Giuliani LLP is
special counsel for certain litigation matters; Griggs & Spivey is
special Counsel for the ECI litigation; Fish & Richardson P.C. is
special counsel for patents and trademarks; and The Wenmohs Group
has been tapped tax returns

Debtor Power Inc. scheduled $7,004,915 in total assets and
$65,743,283 in total liabilities.  Debtor Power Grove scheduled
$5,179,692 in total assets and $31,882,277 in total liabilities.
Power Systems scheduled $4,303,921 in total assets and $87,666,873
in total liabilities.

The Creditors' Committee is represented by Eric J. Taube, Esq.,
Mark C. Taylor, Esq., and Morris D. Weiss, Esq., at Hohmann, Taube
& Summers, LLP, in Austin, Texas.

Younicos was the winning bidder at an auction with a $14 million
for the substantially all of the assets of the Debtors.  The Court
approved the sale by Order dated April 11, 2014, and the
transaction closed on April 14, 2014.  Upon consummation of the
sale to Younicos all the Debtors employees were hired by Younicos.


Z TRIM HOLDINGS: Edward Smith Has 77.5% Stake as of Jan. 8
----------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Edward B Smith, III, and his affiliates
disclosed that as of Jan. 8, 2015, they beneficially owned
71,054,992 shares of common stock of Z Trim Holdings, Inc.,
representing 77.5 percent of the shares outstanding.  

On Jan. 8, 2015, Mr. Smith agreed to receive an aggregate of 71,211
Units consisting of (i) 71,211 shares of Preferred Stock that are
initially convertible into 813,839 Shares, (ii) Initial Warrants
initially exercisable for 609,566 Shares, and (iii) Additional
Warrants initially exercisable for 259,208 Shares in exchange for
two previously reported convertible notes issued by the Issuer (one
with a principal amount of $264,000 and one with a principal amount
of $19,000 together with accrued interest of $1,844) in the
aggregate amount (principal and interest) of $284,844.  This
exchange represents one Unit received for every $4.00 of Notes
exchanged.

A copy of the regulatory filing is available for free at:

                       http://is.gd/hdB2H5

                           About Z Trim

Mundelein, Ill.-based Z Trim Holdings, Inc., is a functional food
ingredient company which provides custom product solutions that
help answer the food industry's problems.  Z Trim's revolutionary
technology provides value-added ingredients across virtually all
food industry categories.  Z Trim's all-natural products, among
other things, help to reduce fat and calories, add fiber, provide
shelf-stability, prevent oil migration, and add binding capacity
-- all without degrading the taste and texture of the final food
products.

Z Trim Holdings reported a net loss of $13.4 million in 2013, a
net loss of $9.58 million in 2012, and a net loss of $6.94 million
in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $3.17 million
in total assets, $3.28 million in total liabilities, and a $104,600
stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company does not have enough cash on hand to meet its current
liabilities and has had reoccurring losses as of Dec. 31, 2013.
These conditions raise substantial doubt about its ability to
continue as a going concern.


[*] ABI Makes No Recommendations on Venue Statute
-------------------------------------------------
Kyle J. Ortiz, writing for Lexology.com, reports that the American
Bankruptcy Institute Commission, unable to reconcile their strong
and disparate views on the venue statute, did not provide any
recommendations regarding the topic.

Lexology.com quoted ABI Commission as saying, "Commissioners found
[venue] issues among some of the most difficult and divisive issues
considered during the Commission project," and as a consequence,
the Commissioners "were unable to reach a consensus regarding
whether reform of the venue statute was necessary or what potential
reform might best serve the diverse interests in chapter 11 cases."


The Commissioners, according to Lexology.com, deviated from the
standard format used throughout the Final Report and
Recommendations of the American Bankruptcy Institute Commission to
Study the Reform of Chapter 11, and, in lieu of issuing any reform
recommendations, chose to provide a summary of the competing
research and deliberations on the topic.

Lexology.com relates that the primary disagreement between the
Commissioners and in the literature they reviewed revolved around
the statute's permissiveness of venue choices based on (i) where
the debtor is incorporated and (ii) the "affiliate-filing rule"
(which permits a debtor to file a case in a jurisdiction where an
affiliate of the debtor has previously filed a pending Chapter 11),
and the common reliance by debtors on one of those two grounds for
jurisdiction to file cases in either the Southern District of New
York or the District of Delaware.

Critics of the venue statute most frequently want the elimination
of venue choices based on the place of incorporation and on the
affiliate-filing rule, Lexology.com says, citing the Report.
Lexology.com relates that the critics argue that under the current
statute that debtors often select venues that "bear no meaningful
relationship to the business, its operations, its financial
difficulties, or its stakeholders," and that filing a case
thousands of miles away from a debtor's "management, employees,
communities, and key constituencies, makes it difficult and
expensive for these parties to participate in or even follow the
Chapter 11 case."

According to Lexology.com, supporters of the venue statute say the
flexibility inherent in the current system allows debtors to choose
jurisdictions "that will facilitate the most effective and
value-maximizing reorganization."

Lexology states that according to the Report, the 84 Act divided
bankruptcy matters into (i) core matters that are central to the
bankruptcy and granted bankruptcy judges authority to enter final
orders with respect to core matters, and (ii) non-core matters and
limited -- absent consent -- bankruptcy judges' power over noncore
matters.


[*] Commercial Printers to Lead in No. of Bankruptcy Filings
------------------------------------------------------------
Mark R. Hahn, writing for Whattheythink.com, reports that
commercial printers will lead the pack in the number of bankruptcy
filings, although many of these will be Chapter 7 filings of small
companies that will simply be liquidated.  

Whattheythink.com relates that bankruptcy filings in 2014 dropped
20% to 43, from 54 in 2013.  The report says that the companies
that filed for bankruptcy were in general smaller and had less
impact than in past years.

According to Whattheythink.com, larger companies will have more
non-bankruptcy plant closures as they consolidate production and
retire older less efficient equipment and facilities.  The report
states that reported plant and company non-bankruptcy closures in
2014 rose 100% to 46, from 2013.  The report relates that some
companies closed up shop without going through the formal
bankruptcy court process.


[*] Covington, DLA Piper Attys Start Firms in Europe, Middle East
-----------------------------------------------------------------
Law360 reported that attorneys at Covington & Burling LLP and DLA
Piper have left the firms to launch their own boutiques in Belgium
and Kuwait, respectively, with the Brussels-based firm specializing
in competition and the Kuwait City office focusing on bank finance
and restructuring, capital markets, mergers and acquisitions,
project finance and dispute resolution.

According to the report, Covington's Brussels-based co-head of its
European Union litigation department, Damien Geradin, left the firm
on Jan. 9 and launched Edge: Legal Thinking, a small firm that will
provide legal services to corporations, law firms and institutions
in a variety of industries.  The report added that DLA Piper's
senior partners Bader A. El-Jeaan and Abdul Aziz Al-Yaqout departed
the firm on Dec. 31 to launch Meysan Partners.



[*] Gregory Jones Joins Dykema's Los Angeles Office
---------------------------------------------------
Gregory K. Jones has joined national law firm Dykema's corporate
finance practice as senior counsel in the firm's Los Angeles
office.  Prior to joining Dykema, Mr. Jones practiced in the Los
Angeles offices of Stutman, Treister & Glatt, PC.

Mr. Jones focuses his practice on bankruptcy law.  He has
represented operating debtors in Chapter 11 bankruptcy cases,
secured creditors, creditors' committees, equity committees,
individual creditors in bankruptcy cases, purchasers of bankruptcy
assets, Chapter 11 trustees, receivers, and assignees for the
benefit of creditors.  Mr. Jones has also appeared before
bankruptcy courts and state courts on a regular basis.

"We are pleased to welcome Greg to our Corporate Finance practice
in Los Angeles," said Michael P. Wippler, Managing Member of
Dykema's Los Angeles office.  "His impressive experience in
bankruptcy law representing a wide variety of clients will be a
valuable resource to the firm and its clients."

Mr. Jones received a B.A. from UCLA, and a J.D. from UCLA School of
Law.

Gina M. Torielli has also joined Dykema's Taxation Group as senior
counsel in the firm's Ann Arbor office.  Ms. Torielli, who was an
associate with Dykema from 1991-96, rejoins the firm after serving
as a consultant on municipal finance and state tax issues arising
in the court-ordered mediation of the City of Detroit's
bankruptcy.

After her time as an associate with Dykema, Ms. Torielli went on to
become the first woman to serve as president of a major Michigan
law firm when she became President and CEO of Howard & Howard
Attorneys PLLC, a position she held for more than five years.
After Howard and Howard, she served more than 10 years as a
professor and Director of the Graduate Tax program at Thomas M.
Cooley Law School, where she taught courses about tax practice and
procedure, standards and ethics of tax practice, and tax-exempt
organizations.

Ms. Torielli's practice focuses on taxation and public finance,
advising nonprofit organizations and governmental entities on
issues relating to tax exemption, tax-exempt financing, and state
and federal tax issues.

"We are very fortunate to add an attorney of Gina's caliber to our
taxation practice and our group," said Michael G. Cumming, Leader
of Dykema's Tax Practice Group.  "Her reputation and substantial
background precede her.  The firm and its clients will benefit
greatly from her knowledge of public finance and tax-exempt
financing."

Ms. Torielli is a past chairperson of the Taxation Section of the
State Bar of Michigan.  She was designated one of the Top 10
Business Women of the Year by the National Association of Women
Business Owners in the spring of 2003, and was also named one of
Corp! Magazine's 95 most powerful women in 2002.

Ms. Torielli received a J.D., cum laude, from Harvard Law School,
and her B.S., with high honors, from Michigan State University.


[*] Meg Manning Joins Gavin/Solmonese's Bankruptcy Practice
-----------------------------------------------------------
Gavin/Solmonese LLC on Jan. 23 disclosed that Meg Manning has
joined the firm as Senior Director and Counsel in its growing
Bankruptcy & Fiduciary Services practice.  Ms. Manning will handle
fiduciary services matters including liquidating trusts,
receiverships, assignments for the benefit of creditors, litigation
trusts and other matters, as well as serve as in-house legal
counsel to the firm.

Ms. Manning has more than 14 years of experience in complex
reorganization and liquidation cases, representing debtors, secured
and unsecured creditors, and creditor committees.

Prior to joining Gavin/Solmonese, Ms. Manning practiced with the
law firm Klehr Harrison Harvey Branzburg, where she concentrated
her practice in the areas of commercial bankruptcy and
restructuring.  She has experience in the retail, energy,
restaurant and manufacturing arenas, among others.

"Meg's expertise in bankruptcies and fiduciary matters reinforces
our firm's capabilities to provide our clients with the broadest
range of financial advisory and fiduciary services," said
Ted Gavin, Managing Director and Founding Partner of
Gavin/Solmonese.  "Her industry involvement, particularly her
commitment to and her leadership roles with the International
Women's Insolvency and Restructuring Confederation, will only
enhance our engagement in this ever-changing industry and
professional community."

Ms. Manning holds a Bachelor of Science Degree from LeMoyne College
in Syracuse, NY, and is a graduate of the University of Baltimore
Law School.  She is admitted to the bars in Delaware, Pennsylvania,
New Jersey, the U.S. District Court for the District of Delaware,
and the U.S. District Court for the Eastern District of
Pennsylvania.

In addition to her professional memberships in the Delaware Bar
Association, the Pennsylvania Bar Association, the American Bar
Association and the Delaware Bankruptcy Inn of Court, Ms. Manning
is an At Large member of the National Board of International
Women's Insolvency & Restructuring Confederation (IWIRC) and has
served as Secretary, Vice Chair and Chair of the IWIRC-Delaware
network.  Ms. Manning was also named by Benchmark Litigation as
both a Delaware Rising Star and a Top Woman in Litigation.

                     About Gavin/Solmonese

Whether it's protecting a company or its creditors from failure,
deploying new leadership, or reversing antiquated thinking,
Gavin/Solmonese -- http://www.gavinsolmonese.com/-- leads
companies to measurable bottom line improvement.  The
Gavin/Solmonese Corporate Restructuring Group provides leadership
for underperforming and troubled companies and their stakeholders,
helping businesses maximize value for owners, investors, creditors
and employees.  The Gavin/Solmonese Corporate Engagement & Public
Affairs Group leads organizations through critical strategic
thinking and tactical planning, creating better connections with
consumers, decision makers and the media, resulting in market share
growth and higher profitability.


[^] BOND PRICING: For The Week From January 19 to 23, 2015
----------------------------------------------------------
  Company               Ticker  Coupon Bid Price  Maturity Date
  -------               ------  ------ ---------  -------------
Alion Science &
  Technology Corp       ALISCI  10.250    99.084       2/1/2015
Allen Systems
  Group Inc             ALLSYS  10.500    34.000     11/15/2016
Allen Systems
  Group Inc             ALLSYS  10.500    34.000     11/15/2016
Alpha Natural
  Resources Inc         ANR      6.000    28.000       6/1/2019
Alpha Natural
  Resources Inc         ANR      9.750    37.000      4/15/2018
Alpha Natural
  Resources Inc         ANR      3.750    35.125     12/15/2017
Alpha Natural
  Resources Inc         ANR      4.875    27.125     12/15/2020
Altegrity Inc           USINV   14.000    38.000       7/1/2020
Altegrity Inc           USINV   13.000    37.625       7/1/2020
Altegrity Inc           USINV   14.000    37.625       7/1/2020
American Eagle
  Energy Corp           AMZG    11.000    38.000       9/1/2019
American Eagle
  Energy Corp           AMZG    11.000    42.000       9/1/2019
Arch Coal Inc           ACI      7.250    23.000      6/15/2021
Arch Coal Inc           ACI      7.000    25.000      6/15/2019
Arch Coal Inc           ACI      7.250    25.869      10/1/2020
Arch Coal Inc           ACI      9.875    30.750      6/15/2019
Aruba Investments Inc   ARUINV   8.750   101.250      2/15/2023
BPZ Resources Inc       BPZ      8.500    31.625      10/1/2017
Black Elk Energy
  Offshore Operations
  LLC / Black Elk
  Finance Corp          BLELK   13.750    76.500      12/1/2015
Caesars Entertainment
  Operating Co Inc      CZR     10.000    20.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    22.000       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     12.750    16.650      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      6.500    25.000       6/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    20.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR      5.750    19.200      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.000    13.930     12/15/2015
Caesars Entertainment
  Operating Co Inc      CZR      5.750    21.375      10/1/2017
Caesars Entertainment
  Operating Co Inc      CZR     10.750     8.750       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    19.875     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    14.500     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.750    22.500       2/1/2016
Caesars Entertainment
  Operating Co Inc      CZR     10.000    20.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    19.875     12/15/2018
Cal Dive
  International Inc     CDVI     5.000    10.000      7/15/2017
Champion
  Enterprises Inc       CHB      2.750     0.250      11/1/2037
Chassix Holdings Inc    CHASSX  10.000    11.750     12/15/2018
Citigroup Inc           C        2.233    99.040      1/30/2015
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    42.660     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    42.500     11/15/2017
Colt Defense LLC /
  Colt Finance Corp     CLTDEF   8.750    42.500     11/15/2017
Dendreon Corp           DNDN     2.875    62.750      1/15/2016
Endeavour
  International Corp    END     12.000    36.000       3/1/2018
Endeavour
  International Corp    END     12.000     3.250       6/1/2018
Endeavour
  International Corp    END      5.500     3.750      7/15/2016
Endeavour
  International Corp    END     12.000    35.625       3/1/2018
Endeavour
  International Corp    END     12.000    35.625       3/1/2018
Energy & Exploration
  Partners Inc          ENEXPR   8.000    33.000       7/1/2019
Energy Conversion
  Devices Inc           ENER     3.000     7.875      6/15/2013
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc           TXU     10.000     9.438      12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc           TXU     10.000     9.250      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc      TXU      6.875     5.625      8/15/2017
Exide Technologies      XIDE     8.625     5.000       2/1/2018
Exide Technologies      XIDE     8.625     4.842       2/1/2018
Exide Technologies      XIDE     8.625     4.842       2/1/2018
FBOP Corp               FBOPCP  10.000     1.843      1/15/2009
FairPoint
  Communications
  Inc/Old               FRP     13.125     1.879       4/2/2018
Federal Farm
  Credit Banks          FFCB     3.200   100.000      1/22/2027
Federal Farm
  Credit Banks          FFCB     2.630    99.345      1/26/2028
Federal Home
  Loan Banks            FHLB     0.550   100.001      7/15/2016
Federal Home
  Loan Banks            FHLB     0.143    99.913      1/20/2016
Federal Home
  Loan Banks            FHLB     0.900    99.801       2/1/2018
Federal Home
  Loan Banks            FHLB     1.750    99.704      7/30/2021
Federal Home
  Loan Banks            FHLB     1.280    98.002      7/30/2019
Federal Home
  Loan Banks            FHLB     1.520    99.701      7/30/2020
Federal Home
  Loan Banks            FHLB     0.260    99.972      1/29/2016
Federal Home Loan
  Mortgage Corp         FHLMC    1.750    98.535      7/29/2021
Federal Home
  Loan Mortgage Corp    FHLMC    1.875    99.970      7/30/2019
Federal Home Loan
  Mortgage Corp         FHLMC    0.700    99.938      1/27/2017
Federal Home Loan
  Mortgage Corp         FHLMC    1.100   100.000      2/12/2018
Federal National
  Mortgage Association  FNMA     1.750    99.695      7/30/2020
Fleetwood
  Enterprises Inc       FLTW    14.000     3.557     12/15/2011
GT Advanced
  Technologies Inc      GTAT     3.000    40.500      10/1/2017
Goodrich
  Petroleum Corp        GDP      5.000    47.000      10/1/2032
Goodrich
  Petroleum Corp        GDP      8.875    37.500      3/15/2019
Goodrich
  Petroleum Corp        GDP      8.875    37.500      3/15/2019
Gymboree Corp/The       GYMB     9.125    34.338      12/1/2018
James River Coal Co     JRCC     3.125     0.338      3/15/2018
Las Vegas Monorail Co   LASVMC   5.500     3.227      7/15/2019
Lehman Brothers
  Holdings Inc          LEH      5.000    12.500       2/7/2009
Lehman Brothers Inc     LEH      7.500     9.125       8/1/2026
MF Global Holdings Ltd  MF       6.250    31.250       8/8/2016
MF Global Holdings Ltd  MF       1.875    31.063       2/1/2016
MF Global Holdings Ltd  MF       3.375    31.000       8/1/2018
MModal Inc              MODL    10.750    10.125      8/15/2020
Molycorp Inc            MCP      6.000     8.250       9/1/2017
Molycorp Inc            MCP      3.250    40.000      6/15/2016
Molycorp Inc            MCP      5.500    14.500       2/1/2018
Momentive Performance
  Materials Inc         MOMENT  11.500     1.875      12/1/2016
NII Capital Corp        NIHD    10.000    33.004      8/15/2016
NII Capital Corp        NIHD     7.625    17.000       4/1/2021
Nexstar
  Broadcasting Inc      NXST     6.125   100.000      2/15/2022
Nuverra Environmental
  Solutions Inc         NES      9.875    43.375      4/15/2018
OMX Timber Finance
  Investments II LLC    OMX      5.540    24.438      1/29/2020
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Powerwave
  Technologies Inc      PWAV     2.750     0.125      7/15/2041
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Quicksilver
  Resources Inc         KWK      7.125     4.571       4/1/2016
Quicksilver
  Resources Inc         KWK      9.125    17.000      8/15/2019
Quicksilver
  Resources Inc         KWK     11.000     7.375       7/1/2021
RAAM Global Energy Co   RAMGEN  12.500    34.650      10/1/2015
RBS Capital Trust III   RBS      2.095    99.950
RadioShack Corp         RSH      6.750    15.000      5/15/2019
RadioShack Corp         RSH      6.750    14.500      5/15/2019
RadioShack Corp         RSH      6.750    14.500      5/15/2019
Sabine Oil & Gas Corp   SOGC     7.250    28.750      6/15/2019
Sabine Oil & Gas Corp   SOGC     9.750    39.000      2/15/2017
Sabine Oil & Gas Corp   SOGC     7.500    27.308      9/15/2020
Sabine Oil & Gas Corp   SOGC     7.500    27.500      9/15/2020
Sabine Oil & Gas Corp   SOGC     7.500    27.500      9/15/2020
Samson Investment Co    SAIVST   9.750    28.500      2/15/2020
Saratoga Resources Inc  SARA    12.500    36.750       7/1/2016
Speedway
  Motorsports Inc       TRK      5.125   101.125       2/1/2023
Swift Energy Co         SFY      7.125    40.950       6/1/2017
Swift Energy Co         SFY      8.875    34.500      1/15/2020
TMST Inc                THMR     8.000    20.000      5/15/2013
Terrestar Networks Inc  TSTR     6.500    10.000      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     9.250      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    16.000       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     9.250      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     9.125      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    14.800       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     8.375      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     9.000      11/1/2016
Tunica-Biloxi
  Gaming Authority      PAGON    9.000    65.250     11/15/2015
Walter Energy Inc       WLT      9.875    16.400     12/15/2020
Walter Energy Inc       WLT      8.500    15.000      4/15/2021
Walter Energy Inc       WLT      9.875    15.000     12/15/2020
Walter Energy Inc       WLT      9.875    15.000     12/15/2020
Western Express Inc     WSTEXP  12.500    93.375      4/15/2015
Western Express Inc     WSTEXP  12.500    93.375      4/15/2015


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***