TCR_Public/160222.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, February 22, 2016, Vol. 20, No. 53

                            Headlines

22ND CENTURY: Incurs $11 Million Net Loss in 2015
2820 MT. EPHRAIM: Case Summary & 4 Unsecured Creditors
ADVANCED MICRO DEVICES: Reports $660 Million Net Loss for 2015
ALLIANCE ONE: Reveals Errors in Prior Financial Statements
ALPHA NATURAL: Committee Gets 2nd Extension of Challenge Period

ALPHA NATURAL: Environmental Parties Dismiss Appeal
ALPHA NATURAL: Spilman Thomas Files Rule 2019 Statement
ALPHA NATURAL: Troutman, Persinger File Rule 2019 Statement
AMERICAN MEDIA: Discusses Q3 Results at Conference Call
ANACOR PHARMACEUTICALS: Palo Alto Reports 4.9% Stake as of Dec. 31

ANNA'S LINENS: Brutzkus Gubner Files Rule 2019 Statement
ARCH COAL: Court Approves Prime Clerk as Claims Agent
ATNA RESOURCES: Seeks More Time to Decide on Unexpired Leases
ATNA RESOURCES: Seeks to Extend Exclusive Right to File Plan
AUXILIUM PHARMACEUTICALS: Palo Alto No Longer a Shareholder

AXION INT'L: Files Rule 2015.3 Periodic Report
BION ENVIRONMENTAL: To Present at SeeThruEquity Conference
BLUBERI GAMING: Chapter 15 Case Summary
BLUBERI GAMING: Joint Administration of Cases Sought
BLUBERI GAMING: Seeks U.S. Recognition of CCAA Proceeding

BLUE LEOPARD: Case Summary & 8 Unsecured Creditors
BURCON NUTRASCIENCE: E-Concept Holds 5.3% Stake as of Dec. 31
CALIFORNIA COMMUNITY: Judge Issues Final Decree to Close Case
CAMBRIDGE CAPITAL: Polar Asset No Longer Holds Common Shares
CASPIAN SERVICES: Delays Filing of Dec. 31 Form 10-Q

CENOVUS ENERGY: Moody's Gives Ba2 CFR & Cuts Unsec. Notes to Ba2
CHINA BAK: Incurs $2.13 Million Net Loss in First Quarter
CHINA GINSENG: Needs More Time to File Dec. 31 Form 10-Q
CLIFFS NATURAL: Bank of America Reports 1.2% Stake as of Dec. 31
COATES INTERNATIONAL: Gets $31,000 From Sale of Securities

CORPORATE RISK: S&P Hikes CCR to CCC+ on New Capital Structure
CROWN MEDIA: Posts $38.8 Million Net Income for Fourth Quarter
CROWN MEDIA: Reports $86.1 Million Net Income for 2015
CTI BIOPHARMA: Incurs $122.6 Million Net Loss in 2015
DIVERSIFIED RESOURCES: Appoints Principal Accounting Officer

DIVERSIFIED RESOURCES: Appoints Two Directors
DIVERSIFIED RESOURCES: Incurs $4.81 Million Net Loss in 2015
DORAL FINANCIAL: Meeting of Creditors Set for March 3
DOVER DOWNS: Gates Capital No Longer Holds Common Shares
DRAFTDAY FANTASY: Borrows $220,000 From Sillerman

EDGEWOOD PARTNERS: Moody's Assigns B3 Corporate Family Rating
EDGEWOOD PARTNERS: S&P Assigns 'B' LT Corp. Credit Rating
EFT HOLDINGS: Delays Filing of Dec. 31 Form 10-Q
ELEPHANT TALK: Agrees to Sell ValidSoft for $12.5 Million
ELEPHANT TALK: Two Directors Resign

ELUMWOOD ASSOCIATES: Involuntary Chapter 11 Case Summary
EMPIRE RESORTS: Closes $290 Million Rights Offering
EMPIRE RESORTS: Kien Huat Reports 88.7% Stake as of Feb. 17
ENCANA CORP: Moody's Lowers Senior Unsecured Notes Rating to Ba2
ENERGY XXI: Fitch Cuts Long-Term Issuer Default Rating to 'C'

ESCALERA RESOURCES: Files Disclosure Statement
ESCO MARINE: Court Approves Hooper to Prepare Tax Filings
ESCO MARINE: May Hire Burton McCumber to Prepare Tax Filings
EXELIXIS INC: Announces Executive Promotions and Compensation
EXELIXIS INC: Eastern Capital Reports 3.2% Stake as of Feb. 11

FAIRWAY GROUP: Moody's Cuts Corporate Family Rating to Caa2
FOUR OAKS: Reports 2015 Q4 Earnings and Annual Results
FRESH & EASY: Has Until April 27, 2016 to File Ch. 11 Plan
FRESH & EASY: Sells Calif. Furniture to RFFM for $22,500
FTE NETWORKS: Signs Strategic Alliance Agreement With Edge

FUTUREWORLD CORP: Needs More Time to File Dec. 31 Form 10-Q
GENERAL MOTORS: Moody's Assigns Ba1 Rating to $2BB Notes Offering
GENIUS BRANDS: Brio Capital Reports 6.1% Equity Stake
GENIUS BRANDS: Wolverine Flagship Holds 9.9% Stake as of Dec. 31
GLYECO INC: Appoints Ian Rhodes as Chief Financial Officer

GLYECO INC: Leonid Frenkel Reports 9.9% Stake as of Dec. 31
GREEN AUTOMOTIVE: Incurs $4.22 Million Net Loss in Q3 2014
GROW CONDOS: Incurs $116,000 Net Loss in Second Quarter
GUESTLOGIX INC: Ontario Court Names PwC as CCAA Monitor
HEBREW HOSPITAL: U.S. Trustee Wants Appointment of Ch. 11 Trustee

HOVENSA LLC: Allowed to Waive Conditions to Plan Effectiveness
IMPERIAL INTEGRATIVE: Chapter 11 Trustee to Sell Certain Assets
IMPLANT SCIENCES: Reports $3.31 Million Net Loss for Second Quarter
INDEPENDENCE TAX IV: Incurs $205,000 Net Loss in Third Quarter
INFRAX SYSTEMS: Delays Filing of Dec. 31 Form 10-Q

INTERLEUKIN GENETICS: Signs Services Agreement with Metagenics
INTERNATIONAL TECHNICAL: Can Use Cash Collateral Until April 29
INTERNATIONAL TECHNICAL: ITCM Should Be in Ch. 11, Says Committee
INTERNATIONAL TECHNICAL: Panel Taps Carmel as Conflicts Counsel
ISTAR INC: Announces Prelim. Q4 and Fiscal Year 2015 Results

ITUS CORP: Incurs $1.59 Million Net Loss in First Quarter
KEVIN CLOUGHERTY: App. Court Affirms Order Denying Custody Changes
KGIC INC: Enters Into Amended & Restated Forbearance Agreement
KU6 MEDIA: Gets Additional Staff Determination Letter from NASDAQ
KU6 MEDIA: To Appeal NASDAQ's Delisting Determination

LEAR CORP: Moody's Affirms 'Ba1' CFR & Alters Outlook to Positive
LEXARIA CORP: Proposes to Change Name to Lexaria Bioscience Corp
LOUISIANA PELLETS: Case Summary & 20 Largest Unsecured Creditors
LUVU BRANDS: Announces Fiscal 2016 Q2 Results
MAGNUM HUNTER: Disclosure Statement Hearing Adjourned to Feb. 26

MARINA BIOTECH: To Explore Alternatives, Mulls Possible Sale
MCCLATCHY CO: Reduces Debt By $30.8 Million; Gets NYSE Notice
MGM RESORTS: Incurs $1.47 Billion Net Loss in Fourth Quarter
MIDSTATES PETROLEUM: Aristeia Capital No Longer a Shareholder
MIDSTATES PETROLEUM: Three Directors Resign

NANOSPHERE INC: LSAF, et al., Report 3% Stake as of Dec. 31
NATIONAL CINEMEDIA: Arrowpoint Asset Reports 8.7% Stake
NATIONAL CINEMEDIA: Janus Capital Holds 11% Stake as of Dec. 31
NEFF RENTAL: Moody's Hikes Probability of Default Rating to 'B2'
NET TALK.COM: Suspending Filing of Reports with SEC

NORTEL NETWORKS: Fights Equity Security Holders Panel Appointment
OLD DOMINION: Court Hears U.S. Trustee's Bid to Dismiss Case
OLLIE'S BARGAIN: S&P Affirms Then Withdraws B+ Corp Credit Rating
OUTER HARBOR: Meeting of Creditors Set for March 9
PACIFIC EXPLORATION: Reaches Extension Agreement with Noteholders

PACIFIC EXPLORATION: Reaches Forbearance Deal with Noteholders
PAROLE BESTGATE: Involuntary Chapter 11 Case Summary
PATERSON, NJ: Moody's Affirms 'Ba1' General Obligation Rating
PHYSIO-CONTROL INT'L: S&P Puts 'B' CCR on CreditWatch Positive
PICO HOLDINGS: Leder Files 2nd Amendment to Consent Solicitation

PLASTIC2OIL INC: EcoNavigation Agreements Expire
PLASTIC2OIL INC: Issues $200,000 Promissory Note to President
PLASTIC2OIL INC: Terminates Recycling Center Lease
POINT BLANK: Has Until June 30, 2016 to Remove Lawsuits
POSITIVEID CORP: Completes Acquisition of Thermo on Dec. 4

QUANTUM MATERIALS: Incurs $2.51 Million Net Loss in Second Quarter
QUEST SOLUTION: Reports Preliminary Revenues for Fiscal Year 2015
REALBIZ MEDIA: Incurs $6.68 Million Net Loss in Fiscal 2015
RESEARCH SOLUTIONS: Incurs $298,000 Net Loss in Second Quarter
RETROPHIN INC: Lombard Odier Reports 3.2% Stake

RICEBRAN TECHNOLOGIES: Amends Loan Agreement with Full Circle
RICEBRAN TECHNOLOGIES: Has $3 Million Registered Direct Offering
ROCKWELL MEDICAL: Inks License Agreement With Wanbang Biopharma
SABINE PASS: Posts $242 Million Net Income for 2015
SCIENTIFIC GAMES: Sylebra HK Company Holds 9.6% of Class A Stock

SEAN SUH'S CARE: Case Summary & 7 Unsecured Creditors
SEMLER SCIENTIFIC: Appeals NASDAQ Delisting Determination
SEMLER SCIENTIFIC: Glenhill Advisors Has 10% Stake as of Dec. 31
SEMLER SCIENTIFIC: Reports 2015 Annual and Q4 Financial Results
ST. JUDE NURSING: Case Summary & 20 Largest Unsecured Creditors

STANDARD INDUSTRIES: Moody's Confirms Ba2 Corporate Family Rating
STAR COMPUTER: Exclusive Plan Filing Period Extended to March 10
STAR COMPUTER: Judge Grants Committee's Bid to Sue Officers
STRATA SKIN: Great Point No Longer Holds Common Shares
TARGETED MEDICAL: Tom Wenkart Reports 16.9% Stake as of Dec. 31

TECHPRECISION CORP: MAZ Partners Reports 5% Stake as of Dec. 31
TECHPRECISION CORP: Posts $12,000 Net Income in Third Quarter
TECHPRECISION CORP: Somerset Reports 6.4% Stake as of Dec. 31
TRAVELPORT WORLDWIDE: Angelo Gordon Reports 8.9% Stake
TRAVELPORT WORLDWIDE: Blackstone, et al., Hold 6.2% Stake

TRAVELPORT WORLDWIDE: Posts $16 Million Net Income for 2015
TRUVEN HEALTH: Moody's Reviews 'B3' Corp. Family Rating for Upgrade
VENOCO INC: S&P Lowers CCR to 'D' on Missed Interest Payment
VYCOR MEDICAL: Fountainhead Holds 69.7% of Preferred Shares
VYCOR MEDICAL: Peter Zachariou Holds 25.7% of Preferred Shares

W/S PACKAGING: Moody's Cuts Corporate Family Rating to 'Caa2'
WAFERGEN BIO-SYSTEMS: James Flynn Holds 0.51% Stake
WAFERGEN BIO-SYSTEMS: Landlord Terminates Headquarters Lease
WAFERGEN BIO-SYSTEMS: Manchester Mgmt. No Longer a Shareholder
WAFERGEN BIO-SYSTEMS: RA Capital Reports 3.9% Stake as of Dec. 31

WALTER ENERGY: PJT Partners Approved as Investment Bankers
WELLNESS CENTER: Needs More Time to File Dec. 31 Form 10-Q
WEST CORP: Hosted Analyst Meeting Feb. 19
WEST CORP: Posts $242 Million Net Income for 2015
WESTMORELAND COAL: Michael Wartell Reports 6.3% Stake as of Feb. 18

WESTMORELAND COAL: Venor Capital to Nominate Two Directors
XINERGY CORP: Administrative Claims Due March 10
YRC WORLDWIDE: Posts $700,000 Net Income for 2015
[*] Claims to Asbestos Bankruptcy Trusts Show Inconsistencies
[*] Moody's Concludes Reviews For 9 US Baa-rated E&P Firms

[*] Peter J. Solomon to Rebuild Restructuring Team
[^] BOND PRICING: For the Week from February 15 to 19, 2016

                            *********

22ND CENTURY: Incurs $11 Million Net Loss in 2015
-------------------------------------------------
22nd Century Group, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$11.03 million on $8.52 million of revenue for the year ended
Dec. 31, 2015, compared to a net loss of $15.59 million on $528,991
of revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, 22nd Century Group had $18.37 million in total
assets, $6.64 million in total liabilities and $11.72 million in
total shareholders' equity.

As of Dec. 31, 2015, the Company had positive working capital of
approximately $4.0 million compared to positive working capital of
approximately $8.0 million at Dec. 31, 2014, a decrease of
approximately $4.0 million.  This decrease in working capital is
due to a decrease in current assets of approximately $3.5 million
plus an increase in current liabilities of approximately $0.5
million.  The decrease is primarily due to a decrease in cash of
$2.6 million and a decrease in prepaid fees and expenses of
approximately $1.5 million, partially offset by an increase in net
inventory of approximately $0.6 million.  The increase in current
liabilities is primarily due to a net increase in accounts payable
and accrued expenses of approximately $0.7 million, partially
offset by a decrease in the demand bank loan of approximately $0.2
million.

A full-text copy of the Form 10-K is available for free at:

                      http://is.gd/F0bFdj

                      About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.


2820 MT. EPHRAIM: Case Summary & 4 Unsecured Creditors
------------------------------------------------------
Debtor: 2820 Mt. Ephraim Avenue, LLC
        459 Route 38 W
        Maple Shade, NJ 08052

Case No.: 16-12901

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 18, 2016

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

Judge: Hon. Andrew B. Altenburg Jr.

Debtor's Counsel: Mark S Cherry, Esq.
                  MARK S CHERRY ATTORNEY AT LAW, PC
                  385 Kings Highway North
                  Cherry Hill, NJ 08034
                  Tel: (856) 667-1234
                  Fax: (856) 667-8666
                  Email: mc@markcherrylaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

Largest unsecured creditor: Parke Bank, $41,000,000

The petition was signed by Keith Ludwick, manager/member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-12901.pdf


ADVANCED MICRO DEVICES: Reports $660 Million Net Loss for 2015
--------------------------------------------------------------
Advanced Micro Devices, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $660 million on $3.99 billion of net revenue for the year
ended Dec. 26, 2015, compared to a net loss of $403 million on
$5.50 billion of net revenue for the year ended Dec. 27, 2014.

As of Dec. 26, 2015, the Company had $3.10 billion in total assets,
$3.52 billion in total liabilities and a total stockholders'
deficit of $412 million.

"The decrease in net revenue from 2014 was due to a 42% decrease in
Computing and Graphics segment revenue and an 8% decrease in
Enterprise, Embedded and Semi-Custom segment revenue. Computing and
Graphics segment revenue declined year-over-year primarily due to
lower client processor sales. Enterprise, Embedded and Semi-Custom
segment revenue declined year-over-year primarily due to lower
server and embedded revenue and lower game console royalties,
partially offset by higher semi-custom SoC sales," the Company said
in the regulatory filing.

"Our cash and cash equivalents and marketable securities consisted
of money market funds and commercial paper.  As of December 26,
2015, our cash, cash equivalents and marketable securities of $785
million were lower compared to $1.0 billion as of December 27,
2014.  The decrease was primarily due to lower sales and the timing
of related collections and the timing of accounts payable payments
made.  During 2015, we used $96 million for purchases of property,
plant and equipment.  The percentage of cash and cash equivalents
held domestically was 88% as of December 26, 2015 and 89% as of
December 27, 2014," the Company stated in the Annual Report.

A full-text copy of the Form 10-K is available for free at:

                      http://is.gd/hfaSMJ

                 About Advanced Micro Devices

Sunnyvale, California-based Advanced Micro Devices, Inc., is a
global semiconductor company.  The Company's products include x86
microprocessors and graphics.

                          *     *     *

As reported by the TCR on Oct. 22, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Sunnyvale,
Calif.-based Advanced Micro Devices Inc. to 'CCC+' from 'B-'.  
"The downgrade reflects our expectation that AMD will experience a
more gradual return to revenue growth, ongoing competitive
challenges to restore operating profitability, and more severe
operating losses and negative free cash flow through 2016 than we
had previously forecast, despite recent improvements to its
liquidity," said Standard & Poor's credit analyst John Moore.

As reported by the TCR on June 5, 2014, Fitch Ratings had upgraded
the long-term Issuer Default Rating (IDR) for AMD (NYSE: AMD) to
'B-' from 'CCC'.  The upgrade primarily reflects AMD's improved
financial flexibility from recent refinancing activity, which
extends meaningful debt maturities until 2019.

In July 2015, Moody's Investors Service lowered Advanced Micro
Devices, Inc's ("AMD") corporate family rating to Caa1 from B3, and
the ratings on the senior unsecured notes to Caa2 from Caa1.  
The downgrade of the corporate family rating to Caa1 reflects AMD's
prospects for ongoing operating losses over the next year and
negative free cash flow.


ALLIANCE ONE: Reveals Errors in Prior Financial Statements
----------------------------------------------------------
Alliance One International, Inc., announced that in connection with
its previously-disclosed investigation into the discrepancies in
accounts receivable and inventory of Alliance One Tobacco (Kenya)
Limited at Sept. 30, 2015, the Audit Committee of AOI's Board of
Directors has concluded that AOI's consolidated financial
statements as of and for each of the following fiscal periods
should no longer be relied upon: (i) the fiscal quarter ended
June 30, 2015, (ii) the fiscal year ended March 31, 2015, and each
of the three prior fiscal quarters of such fiscal year, (iii) the
fiscal year ended March 31, 2014, and each of the three prior
fiscal quarters of such fiscal year, and (iv) the fiscal year ended
March 31, 2013.

As AOI previously reported on Feb. 4, 2016, the discrepancies
amount to just under $50 million and its investigation includes a
"roll-back" of the Sept. 30, 2015, balance sheet to prior periods.
Although this analysis is not yet complete, AOI believes based on
its work to date that the Discrepancies also affect periods other
than the Non-Reliance Periods.  Specifically, AOI believes that a
portion of the Discrepancies affects the fiscal quarter ended Sept.
30, 2015, and that a portion of the Discrepancies also affects
periods prior to April 1, 2012.

As previously reported, AOI has employed procedures to determine
whether issues similar to those discovered in Kenya exist elsewhere
within its global footprint.  These procedures, which have been
performed at selected origins, include, among others, additional
inventory counts, third party account receivable verifications, and
analytical procedures on fluctuations of other accounts.  This work
is complete pending final review and has not caused AOI to alter
its previously disclosed belief that the reported discrepancies are
unique to the Kenyan subsidiary.

In addition, as part of the investigation, AOI is reviewing its
internal controls over financial reporting.  Although the
investigation remains ongoing, AOI believes based on its
observations to date that material weaknesses existed in its
internal controls during the Non-Reliance Periods that allowed the
Discrepancies in Kenya to occur.  As a result of these weaknesses,
investors, analysts and other persons should not rely upon
management's reports on internal controls over financial reporting
or AOI's independent registered public accounting firm's audit
reports on the effectiveness of the Company's internal controls
over financial reporting during the Non-Reliance Periods.  AOI is
implementing steps to strengthen its internal control environment
and to remediate the weaknesses that it has identified.

                        About Alliance One

Alliance One International is principally engaged in purchasing,
processing, storing, and selling leaf tobacco.  The Company
purchases tobacco primarily in the United States, Africa, Europe,
South America and Asia for sale to customers primarily in the
United States, Europe and Asia.

Alliance One reported a net loss of $15.6 million on $2.10 billion
of sales and other operating revenues for the year ended March 31,
2015, compared to a net loss of $87 million on $2.3 billion of
sales and other operating revenues for the year ended March 31,
2014.

                            *    *    *

As reported by the TCR on Feb. 12, 2015, Moody's Investor Service
downgraded the Corporate Family Rating of Alliance One
International, Inc. (AOI) to Caa1 from B3.  The downgrade of AOI's
CFR to Caa1 reflects Moody's expectation that credit metrics will
remain weak over the next 12 - 18 months.

The TCR reported on April 13, 2015, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Morrisville,
N.C.-based Alliance One International Inc. to 'CCC+' from 'B-'.


ALPHA NATURAL: Committee Gets 2nd Extension of Challenge Period
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Alpha Natural Resources, Inc., and its subsidiaries won
entry of a stipulation and consent order signed by Kevin R.
Huennekens extending for the second time the Committee's deadline
to challenge the validity and priority of the liens asserted by the
Debtors' secured creditors.

The parties to the stipulation are the Committee; the Debtors;
Citibank N.A. and Citicorp North America, Inc., as administrative
and collateral agent under the Debtors' postpetition credit
facility (The "DIP Agent"); Citicorp North America, Inc., as
administrative and collateral agent under the Debtors' prepetition
secured credit facility (the "First Lien Agent"); Wilmington Trust,
National Association, as trustee and agent with respect to the
Debtors' prepetition second lien notes (the "Second Lien Agent");
and the ad hoc group of second lien noteholders.

On Sept. 15, 2015, the Court entered a final order authorizing the
Debtors to obtain cash collateral and access DIP Financing
consisting of a term loan in the amount of $300 million, a letter
of credit facility of $192 million, and an accommodation facility
for certain bonding requests of up to $100 million.  Citibank, N.A.
is the administrative and collateral agent.

Paragraph 23 of the Final Order provides that the Committee: (a)
will have 90 days after entry of the Final DIP Order (the
"Challenge Period") to file an adversary proceeding or contested
matter challenging (i) the validity, enforceability, priority or
extent of the Stipulated Debt or the Stipulated Security Interests;
or (ii) otherwise assert and action in connection with matters
related to the Existing Credit Documents, the Existing Second Lien
Indentures Documents, and the Stipulated Debt, the Senior Lender
Collateral, and the Second Priority Collateral; and (b) may seek
approval of an extension of the Challenge Period for cause shown.

On Dec. 8, 2015, the Court entered a stipulated and consent order
extending the Challenge Period through and including Feb. 1, 2016.

On Jan. 7, 2016, the Committee filed a second motion for an
extension of the Challenge Period.

"Although the Debtors have provided thousands of documents to date,
and the Debtors' counsel has been cooperating with counsel for the
Committee regarding the information and documents the Committee has
requested and must have to properly examine Challenge Period
issues, all requested documents and information have not yet been
provided.  Of what has been produced, a substantial amount was
provided on Dec. 23, 2015, and Jan. 6 and 7, 2016. It will
necessarily take time to review and analyze the hundreds of new
documents so recently received," the Committee said in its second
motion seeking an extension.

On Feb. 5, 2016, Judge Huennekens entered a second stipulation and
consent order providing, "The Challenge Period is extended through
and including Feb. 15, 2016; however, if the Committee provides
written notice to the Lenders, on or before Feb. 15, 2016, of the
Committee's intention to pursue claims subject to the Challenge
Period, which Notice must identify such claims with reasonable
specificity and all assets to which they pertain, the Challenge
Period shall be automatically extended through and including Marc
h1, 2016, solely to permit the Committee to file appropriate papers
to commence an adversary proceeding or contested matter to
prosecute only the specific claims so identified in the Notice, or
to allow the Parties to an agree to an alternative resolution of
claims."

Co-Counsel to Official Committee of Unsecured Creditors:

         William A. Gray, Esq.
         George R. Pitts, Esq.
         Eric C. Howlett, Esq.
         SANDS ANDERSON PC
         P.O. Box 1998
         Richmond, VA 23218-1998
         Telephone: (804) 648-1636

                       About Alpha Natural

Alpha Natural -- http://www.alphanr.com/-- is a coal supplier,  
ranked second largest among publicly traded U.S. coal producers as
measured by 2014 consolidated revenues of $4.3 billion.  

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  The petition was signed by Richard H. Verheij, executive
vice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment banker.
Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

On Aug. 12, 2015, the U.S. Trustee for Region 4 appointed an
official committee of unsecured creditors.  Dennis F. Dunne, Esq.,
Evan R. Fleck, Esq., and Eric K. Stodola, Esq., at Milbank, Tweed,
Hadley & McCloy LLP; and William A. Gray, Esq., W. Ashley Burgess,
Esq., and Roy M. Terry, Jr., Esq. at Sands Anderson PC, represent
the Committee.

                           *     *     *

On Jan. 20, 2016, Judge Kevin R. Huennekens overruled the objection
of the U.S. Government, on behalf of certain environmental
agencies, and granted Alpha Natural's motion for approval of a
compromise with the state of West Virginia involving certain
bonding obligations that the Debtors have under the West Virginia
Surface Mining and Reclamation Act.


ALPHA NATURAL: Environmental Parties Dismiss Appeal
---------------------------------------------------
Sierra Club, West Virginia Highlands Conservancy and Ohio Valley
Environmental Coalition have voluntarily dismissed their appeal
from the order of the U.S. Bankruptcy Court for the Eastern
District of Virginia approving the settlement between Alpha Natural
Resources and certain of its subsidiaries, and the West Virginia
Department of Environmental Protection.

According to a Feb. 4, 2016 court filing, Sierra Club, et al., and
the Debtors have agreed to the voluntary dismissal of the appeal,
with each party to bear its own fees and costs.

Counsel to Sierra Club, West Virginia Highlands Conservancy and
Ohio Valley Environmental Coalition:

         Kristen E. Burgers, Esq.
         Stephen E. Leach, Esq.
         HIRSCHLER FLEISCHER
         8270 Greensboro Drive, Suite 700
         Tysons Corner, VA 22102
         Telephone: (703) 584-8364
         E-mail: kburgers@hf-blaw.com
                 sleach@hf-law.com

                     West Virginia Settlement

On Jan. 20, 2016, Judge Kevin R. Huennekens overruled the objection
of the U.S. Government, on behalf of certain environmental
agencies, and granted Alpha Natural's motion for approval of a
compromise with the state of West Virginia involving certain
bonding obligations that the Debtors have under the West Virginia
Surface Mining and Reclamation Act.  A copy of the Court's
Memorandum Opinion is available for free at:

   http://bankrupt.com/misc/Alpha_N_1332_1158_Opin_WV_Pact.pdf

The settlement resolves certain issues with the West Virginia
Department of Environmental Protection regarding the Debtors'
reclamation bonding of their surface coal mining operations in the
State of West Virginia.  The Debtors agreed to post a $15 million
letter of credit in favor of DEP as a collateral bond and grant
DEP
a superpriority claim in the amount of $24 million.  This amount
fully exhausts the remaining $39 million available for bonding
accommodations under the Debtors' DIP Loan Facility.
The Debtors are further required to use their reasonable best
efforts to reduce their self-bonding obligations in West Virginia
by $10 million and to commence reclamation on an inactive mining
permit within the state.  Alpha Natural has more than 500 mining
permits for its operations in West Virginia.

                       About Alpha Natural

Alpha Natural -- http://www.alphanr.com/-- is a coal supplier,  
ranked second largest among publicly traded U.S. coal producers as
measured by 2014 consolidated revenues of $4.3 billion.  

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  The petition was signed by Richard H. Verheij, executive
vice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment banker.
Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

On Aug. 12, 2015, the U.S. Trustee for Region 4 appointed an
official committee of unsecured creditors.  Dennis F. Dunne, Esq.,
Evan R. Fleck, Esq., and Eric K. Stodola, Esq., at Milbank, Tweed,
Hadley & McCloy LLP; and William A. Gray, Esq., W. Ashley Burgess,
Esq., and Roy M. Terry, Jr., Esq. at Sands Anderson PC, represent
the Committee.


ALPHA NATURAL: Spilman Thomas Files Rule 2019 Statement
-------------------------------------------------------
Spilman Thomas & Battle, PLLC, submitted a declaration pursuant to
Rule 2019 of the Federal Rules of Bankruptcy Procedure in the
bankruptcy cases of Alpha Natural Resources, Inc., et al.

Spilman is serving as counsel for these parties in connection with
the Debtors' bankruptcy cases:

        Name                           Address
        ----                           -------
Penn Virginia Operating Co., LLC   Three Radnor Corporate
                                   Center, Suite 300
                                   Radnor, PA 19087

McCreery Coal Land Company         130 Main Street, Beckley, WV

Pardee Minerals, LLC               1717 Arch Street, Suite 4010,
                                   Philadelphia, PA

JRY Natural Resources, LLC         990 Washington Street, Suite
                                   315 Dedham, MA 02026

The David J. Pierce Trust U/A
dated February 23, 2011            4281 Express Lane, Suite L4451
                                   Sarasota, FL 34238-2602

Donald L. Blankenship              P. O. Box 927
                                   Belfry, Kentucky 41514

Christian Colliery Company         149 Vassar Drive
                                   Lake Worth, FL 33460

Berwind Land Company               300 Summers Street, Suite 1050
                                   Charleston, WV 25301

Westvarendrag, Inc.                P. O. Box 403
                                   Saratoga Springs, New York
                                   12866-0403

Each of the Parties may hold claims against the Debtors arising out
of applicable agreements, law, or equity pursuant to their
respective relationships with the Debtors.

Spilman represented Penn Virginia Operating Co., LLC prior to the
filing of these cases.  Spilman represented McCreery Coal Land
Company prior to the filing of the cases.  Spilman represented
Pardee Minerals LLC prior to the filing of the cases.  JRY Natural
Resources, LLC retained Spilman for this case.  The David J. Pierce
Trust U/A dated February 23, 2011 retained Spilman for the case.
Spilman represented Donald L. Blankenship prior to the filing of
the cases.  Spilman represented Christian Colliery Company prior to
the filing of the cases.  Spilman represented Berwind Land Company
prior to the filing of the cases.  Spilman represented
Westvarendrag, Inc. prior to the filing of the cases.

At the time of the filing of the petitions by the Debtors, Spilman
had claims in the aggregate approximate amount of $14,000.00
against Independence Coal Company, Inc. (matter concluded), Marfork
Coal Company, Inc. (matter stayed), Knox Creek Coal Corporation
(Fourth circuit appeal – MSHA claim), Sidney Coal Company, Inc.
(matter stayed) for certain discreet litigation matters handled on
behalf of those entities.  Except for Independence Coal Company,
none of Penn Virginia, McCreery, Pardee, JRY, Pierce, Blankenship,
Christian Colliery, Berwind, or Westvarendrag has a claim against
any of these entities.

The firm can be reached at:

          Peter M. Pearl, Esq.
          SPILMAN THOMAS & BATTLE, PLLC
          Post Office Box 90
          Roanoke, VA 24002
          Telephone: (540) 512-1800
          Facsimile: (540) 342-4480
          E-mail: ppearl@spilmanlaw.com

                       About Alpha Natural

Alpha Natural -- http://www.alphanr.com/-- is a coal supplier,  
ranked second largest among publicly traded U.S. coal producers as
measured by 2014 consolidated revenues of $4.3 billion.  

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  The petition was signed by Richard H. Verheij, executive
vice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment banker.
Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

On Aug. 12, 2015, the U.S. Trustee for Region 4 appointed an
official committee of unsecured creditors.  Dennis F. Dunne, Esq.,
Evan R. Fleck, Esq., and Eric K. Stodola, Esq., at Milbank, Tweed,
Hadley & McCloy LLP; and William A. Gray, Esq., W. Ashley Burgess,
Esq., and Roy M. Terry, Jr., Esq. at Sands Anderson PC, represent
the Committee.

                           *     *     *

On Jan. 20, 2016, Judge Kevin R. Huennekens overruled the objection
of the U.S. Government, on behalf of certain environmental
agencies, and granted Alpha Natural's motion for approval of a
compromise with the state of West Virginia involving certain
bonding obligations that the Debtors have under the West Virginia
Surface Mining and Reclamation Act.


ALPHA NATURAL: Troutman, Persinger File Rule 2019 Statement
-----------------------------------------------------------
Troutman Sanders LLP and Thomas Persinger PLLC, submitted a
supplemental declaration pursuant to Rule 2019 of the Federal Rules
of Bankruptcy Procedure in connection with the bankruptcy cases of
Alpha Natural Resources, Inc., et al.

Troutman and Persinger are serving as counsel to Williams Mountain,
LLC, Dorothy, LLC, Pax, LLC, Seth, LLC, Trap Hill, LLC, Eccles,
LLC, and Payne-Gallatin Company.  The creditors are all located in
Charleston, West Virginia.

Each of the Parties may hold claims against the Debtors arising out
of certain agreements (including but not limited to leases of
non-residential real property), law, or equity specific to the
respective Parties and their relationships with the Debtors. Each
of the Parties will state the nature and amount of their claims
against the Debtors in their respective proofs of claim to be filed
by the applicable deadline.

The firms can be reached at:

         Richard E. Hagerty, Esq.
         TROUTMAN SANDERS LLP
         1850 Towers Crescent Plaza, Suite 500
         Tysons Corner, VA 22182
         Tel: (703) 734-4326
         Fax: (703) 448-6520
         E-mail: richard.hagerty@troutmansanders.com

                 - and -

         Thomas Persinger, Esq.
         THOMAS PERSINGER PLLC
         179 Summers Street, Suite 622
         Charleston, WV 25301-2123
         Tel: (304) 343-0850
         Fax: (304) 343-1677
         E-mail: mtplaw@frontier.com

                       About Alpha Natural

Alpha Natural -- http://www.alphanr.com/-- is a coal supplier,  
ranked second largest among publicly traded U.S. coal producers as
measured by 2014 consolidated revenues of $4.3 billion.  

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  The petition was signed by Richard H. Verheij, executive
vice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment banker.
Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

On Aug. 12, 2015, the U.S. Trustee for Region 4 appointed an
official committee of unsecured creditors.  Dennis F. Dunne, Esq.,
Evan R. Fleck, Esq., and Eric K. Stodola, Esq., at Milbank, Tweed,
Hadley & McCloy LLP; and William A. Gray, Esq., W. Ashley Burgess,
Esq., and Roy M. Terry, Jr., Esq. at Sands Anderson PC, represent
the Committee.

                           *     *     *

On Jan. 20, 2016, Judge Kevin R. Huennekens overruled the objection
of the U.S. Government, on behalf of certain environmental
agencies, and granted Alpha Natural's motion for approval of a
compromise with the state of West Virginia involving certain
bonding obligations that the Debtors have under the West Virginia
Surface Mining and Reclamation Act.


AMERICAN MEDIA: Discusses Q3 Results at Conference Call
-------------------------------------------------------
American Media, Inc., held an earnings conference call on Feb. 17,
2016, to discuss the financial results for the three and nine month
periods ended Dec. 31, 2015.  AMI's Quarterly Report on Form 10-Q
for the quarter ended Dec. 31, 2015, was filed with the Securities
and Exchange Commission on February 16.

                     About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., an in-store magazine merchandising
company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on Nov. 17, 2010, with a
prepackaged plan.  The Debtors emerged from Chapter 11
reorganization in December 2010, handing ownership to former
bondholders.  The new owners include hedge funds Avenue Capital
Group and Angelo Gordon & Co.

American Media reported a net loss of $54.3 million on
$344 million of total operating revenues for the fiscal year ended
March 31, 2014, following a net loss of $56.2 million on $349
million of total operating revenues for the year ended March 31,
2013.

As of Dec. 31, 2015, the Company had $423.52 million in total
assets, $437.94 million in total liabilities, $3 million in
redeemable noncontrolling interests and a total stockholders'
deficit of $17.41 million.

                           *     *     *

As reported in the Jan. 9, 2015 edition of the TCR, American Media
carries a 'Caa1' corporate family rating from Moody's.  American
Media's Caa1 CFR reflects the company's elevated total debt to
EBITDA leverage that Moody's expect will rise to the 8-9x range
(Moody's adjusted) over the rating horizon from about 7x as of
Sept. 30, 2014 as a result of lower EBITDA performance that
stems from a reduction in circulation sales associated with the
bankruptcy filing of AMI's second largest publications wholesaler,
Source Interlink Distribution ("Source").  The rating also captures
AMI's weak liquidity profile and deteriorating EBITDA cushion under
the revolver's first-lien leverage covenant resulting from the
lower circulation revenue aggravated by the Source bankruptcy,
which required temporary covenant relief through an amendment to
the credit facility.

The TCR reported on December 2015 that Standard & Poor's Ratings
Services raised its corporate credit rating on Boca Raton,
Fla.-based American Media Inc. to 'CCC+' from 'CCC'.  The upgrade
follows S&P's review of American Media's liquidity and capital
structure after company announced its fiscal third quarter
(ended Sept. 30, 2015) results.


ANACOR PHARMACEUTICALS: Palo Alto Reports 4.9% Stake as of Dec. 31
------------------------------------------------------------------
Palo Alto Investors, LLC, Patrick Lee, MD and Anthony Joonkyoo Yun,
MD disclosed in an amended Schedule 13G filed with the Securities
and Exchange Commission that as of Dec. 31, 2015, they beneficially
own 2,187,242 shares of common stock of Anacor Pharmaceuticals,
Inc., representing 4.96 percent of the shares outstanding.  A copy
of the regulatory filing is available at:

                       http://is.gd/P9s8Ex

                   About Anacor Pharmaceuticals

Palo Alto, Calif.-based Anacor Pharmaceuticals (NASDAQ: ANAC) is a
biopharmaceutical company focused on discovering, developing and
commercializing novel small-molecule therapeutics derived from its
boron chemistry platform.  Anacor has discovered eight compounds
that are currently in development.  Its two lead product
candidates are topically administered dermatologic compounds -
tavaborole, an antifungal for the treatment of onychomycosis, and
AN2728, an anti-inflammatory PDE-4 inhibitor for the treatment of
atopic dermatitis and psoriasis.

Anacor reported a net loss of $87.1 million on $20.7 million of
total revenues for the year ended Dec. 31, 2014, compared with net
income of $84.8 million on $17.2 million of total revenues for the
year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $188 million in total
assets, $128 million in total liabilities, $4.95 million in
redeemable common stock and $55.8 million in total stockholders'
equity.


ANNA'S LINENS: Brutzkus Gubner Files Rule 2019 Statement
--------------------------------------------------------
Brutzkus Gubner Rozansky Seror Weber LLP, as attorneys for an
informal group of vendors which provided goods to Anna's Linens,
Inc., submitted a statement under F.R.B.P. Rule 2019 in connection
with its representation of vendors in the Chapter 11 case of Anna's
Linens.

The Vendors are four of Debtor's prepetition vendors that each
holds administrative and unsecured claims against the Debtor's
bankruptcy estate on account of goods delivered to the Debtor
prepetition.

The Vendors are:

    * Welcome Industrial Corporation
      95 Marcus Blvd. Deer Park, NY 11729
      Administrative claim of not less than $780,391
      General unsecured claim of not less than $9,954,979

    * Panda Home Fashions, LLC
      10 Crescent Drive Albertson, NY 11507
      Administrative claim of not less than $165,481
      General unsecured claim of not less than $2,592,330

    * Shewak Lajwanti Home Fashions, Inc.
      5601 Downey Road Vernon, CA 90058
      Administrative claim of not less than $623,243
      General unsecured claim of not less than $7,455,735

    * P & A Marketing, Inc.
      34 Crest Hollow Lane Albertson, NY 11507
      Administrative claim of not less than $369,520
      General unsecured claim of not less than $3,680,855

Attorneys for Informal Group of Vendors:

         Steven T. Gubner, Esq.
         Reed Bernet, Esq.
         BRUTZKUS GUBNER ROZANSKY SEROR WEBER LLP
         21650 Oxnard Street, Suite 500
         Woodland Hills, CA 91367
         Telephone: (818) 827-9000
         Facsimile: (818) 827-9099
         E-mail: sgubner@brutzkusgubner.com
                 rbernet@brutzkusgubner.com

                       About Anna's Linens

Anna's Linens is a specialty retailer offering home textiles,
furnishings and decor at attractive prices.  Headquartered in
Costa Mesa, California, operates a chain of 268 company owned
retail stores throughout 19 states in the United States (including
Puerto Rico and Washington, D.C.) generates over $300 million in
annual revenue and employs a workforce of over 2,500 associates.

Anna's Linens sought Chapter 11 bankruptcy protection (Bankr. C.D.
Cal. Case No. 15-13008) in Santa Ana, California, on June 14,
2015.

The case is assigned to Judge Theodor Albert.  The Debtor tapped
Levene, Neale, Bender, Yoo & Brill LLP as counsel.  The Debtor
estimated assets of $50 million to $100 million and debt of $100
million to $500 million.

The U.S. trustee overseeing the Chapter 11 case of Anna's Linens
Inc. appointed seven creditors to serve on the official committee
of unsecured creditors.


ARCH COAL: Court Approves Prime Clerk as Claims Agent
-----------------------------------------------------
Arch Coal, Inc., et al., sought and obtained permission from the
Hon. Charles E. Rendlen, III of the U.S. Bankruptcy Court for the
Eastern District of Missouri to employ Prime Clerk LLC as notice,
claims and solicitation agent, nunc pro tunc to the January 11,
2016.

The Debtors require Prime Clerk to:

   (a) prepare and serve required notices and documents in these
       chapter 11 cases in accordance with the Bankruptcy Code and

       the Bankruptcy Rules in the form and manner directed by the

       Debtors and/or the Court, including (i) notice of the
       commencement of these chapter 11 cases and the initial
       meeting of creditors under section 341(a) of the Bankruptcy

       Code, (ii) notice of any claims bar date, (iii) notices of
       objections to claims and objections to transfers of claims,

       (iv) notices of hearings on motions filed by the Office of
       the United States Trustee for the Eastern District of
       Missouri, (v) notices of transfers of claims, (vi) notices
       of any hearings on a disclosure statement and confirmation
       of the Debtors' plan or plans of reorganization, including
       under Bankruptcy Rule 3017(d), (vii) notice of the
       effective date of any plan and (viii) all other notices,
       orders, pleadings, publications or other documents as the
       Debtors or Court may deem necessary or appropriate for an
       orderly administration of these chapter 11 cases.

   (b) maintain an official copy of the Debtors' schedules of
       assets and liabilities and statements of financial affairs,

       listing the Debtors' known creditors and amounts owed
       thereto;

   (c) maintain (i) a list of all potential creditors, equity
       holders and other parties in interest and (ii) a "core"
       mailing list consisting of all parties described in
       Bankruptcy Rule 2002(i), (j) and (k) and those parties that

       have filed a notice of appearance pursuant to Bankruptcy
       Rule 9010 and updating and making said lists available upon

       request by a party in interest or the Clerk;

   (d) furnish a notice to all potential creditors of the last
       date for filing proofs of claim and a form for filing a
       proof of claim, after such notice and form are approved by
       the Court, and notifying the said potential creditors of
       the existence, amount and classification of their
       respective claims as set forth in the Schedules, which may
       be effected by inclusion of such information on a
       customized proof of claim form provided to potential
       creditors;

   (e) maintain a post office box or address for the purpose of
       receiving claims and returned mail and processing all mail
       received;

   (f) for all notices, motions, orders or other pleadings or
       documents served, preparing and filing or causing to be
       filed with the Clerk an affidavit or certificate of service
       within 7 business days of service which includes (i)
       either a copy of the notice served or the docket number(s)
       and title(s) of the pleading(s) served, (ii) a list of
       persons to whom it was mailed (in alphabetical order) with
       their addresses, (iii) the manner of service and (iv) the
       date served;

   (g) process all proof of claims received, including those
       received by the Clerk, checking said processing for
       accuracy and maintaining the original proofs of claim in a
       secure area;

   (h) maintain a claims register for each Debtor, providing the
       Clerk with certified, duplicate Claims Registers and
       specifying in the Claims Registers the following
       information for each claim docketed: (i) the claim number
       assigned, (ii) the date received, (iii) the name and
       address of the claimant and agent, if applicable, who filed

       the claim, (iv) the amount asserted, (v) the asserted
       classifications of the claim, (vi) the applicable
       Debtor and (vii) any disposition of the claim;

   (i) record all transfers of claims and providing any notices
       of such transfers as required by Bankruptcy Rule 3001(e);

   (j) relocate, by messenger or overnight delivery, all of the
       court-filed proofs of claim to the offices of Prime Clerk,
       not less than weekly;

   (k) upon completion of the docketing process for all claims
       received to date for each case, turning over to the Clerk
       copies of the Claims Registers for the Clerk's review;

   (l) monitor the Court's docket for all notices of appearance,
       address changes and claims-related pleadings and orders
       filed and making necessary notations on and/or changes to
       the claims register and any service or mailing lists,
       including to identify and eliminate duplicative names and
       addresses from such lists;

   (m) identify and correct any incomplete or incorrect
       addresses in any mailing or service lists;

   (n) assist in the dissemination of information to the public
       and responding to requests for the administrative
       information regarding these chapter 11 cases as directed by
       the Debtors or the Court, including through the use of a
       case website and/or call center;

   (o) if these chapter 11 cases are converted to cases under
       chapter 7 of the Bankruptcy Code, contacting the Clerk's
       office within 3 days of notice to Prime Clerk of entry of
       the order converting the cases;

   (p) 30 days prior to the close of these chapter 11 cases,
       to the extent practicable, requesting that the Debtors
       submit to the Court a proposed order dismissing Prime Clerk

       as Notice, Claims and Solicitation Agent and terminating
       its services in such capacity upon completion of its duties

       and responsibilities and upon the closing of these chapter
       11 cases;

   (q) within 7 days of notice to Prime Clerk of entry of an order

       closing these chapter 11 cases, providing to the Court the
       final version of the Claims Registers as of the date
       immediately before the close of the chapter 11 cases;

   (r) at the close of these chapter 11 cases, boxing and
       transporting all original documents, in proper format, as
       provided by the Clerk's office, to (i) the Federal
       Archives Record Administration, located at Central Plains
       Region, 200 Space Center Drive, Lee's Summit, MO 64064 or
       (ii) any other location requested by the Clerk's office;

   (s) assist with, among other things, solicitation, balloting
       and tabulation of votes, and prepare any related reports,
       as required in support of confirmation of a chapter 11
       plan, and in connection with such services, processing
       requests for documents from parties in interest, including,

       if applicable, brokerage firms, bank back-offices and
       institutional holders;

   (t) prepare an official ballot certification and, if necessary,
       testifying in support of the ballot tabulation results;

   (u) assist with the preparation of the Debtors' schedules of
       assets and liabilities and statements of financial affairs
       and gathering data in conjunction therewith;

   (v) provide a confidential data room, if requested;

   (w) manage and coordinate any distributions pursuant to a
       chapter 11 plan; and

   (x) provide such other claims processing, noticing, plan
       solicitation and related administrative services as may be
       requested from time to time by the Debtors.

The Debtors respectfully submit that the fees and expenses incurred
by Prime Clerk are administrative in nature and, therefore, should
not be subject to the standard fee application procedures for
professionals.

Prime Clerk shall maintain records of all services showing dates,
categories of services, fees charged and expenses incurred, and
shall file with the Court monthly invoices, and serve such monthly
invoices upon the Debtors, the Office of the U.S. Trustee, counsel
to the Debtors, counsel to any official committee monitoring the
expenses of the Debtors and any party-in-interest who specifically
requests service of the monthly invoices.

Prior to the Petition Date, the Debtors provided Prime Clerk with a
retainer in the amount of $75,000.

Michael J. Frishberg, co-president and chief operating officer of
Prime Clerk, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

Prime Clerk can be reached at:

       Shai Waisman
       PRIME CLERK LLC
       830 3rd Avenue, 9th Floor
       New York, NY 10022
       Tel: (212) 257-5450
       E-mail: swaisman@primeclerk.com

                         About Arch Coal

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.

The Debtors disclosed total assets of $5.84 billion and total Debts
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and
Prime Clerk LLC as notice, claims and solicitation agent.


ATNA RESOURCES: Seeks More Time to Decide on Unexpired Leases
-------------------------------------------------------------
Atna Resources Inc. has filed a motion seeking additional time to
assume or reject unexpired leases of nonresidential real property.

In its motion, the company asked U.S. Bankruptcy Judge Joseph
Rosania to extend the deadline to June 15 from March 17.

Objections to the motion are due by February 26.

                        About Atna Resources

Headquartered in Lakewood, Colorado, Atna Resources Ltd. --
http://www.atna.com/-- is engaged in all phases of the mining
business, including exploration, preparation of pre-feasibility and
feasibility studies, permitting, construction and development,
operation and final closure of mining properties.  

The Company owns or controls various properties with gold
resources.  The Company's production property includes Briggs Mine
California and Pinson Mine Property, Nevada.  The Company's
development properties include Mag Pit at Pinson; Columbia Project,
Montana and Briggs Satellite Projects, California.  Its exploration
properties include Sand Creek Uranium Joint Arrangement, Wyoming;
Blue Bird Prospect, Montana and Canadian Properties, Yukon and
British Columbia.  Its Closure Property is Kendall, Montana.  The
Briggs mine is located on approximately 156 unpatented claims,
including approximately 15 mill site claims, covering over 2,890
acres.  The Company's Pinson Mine Property is located in Humboldt
County, Nevada, over 30 miles east of Winnemucca.

Atna Resources, Inc. and its direct and indirect subsidiaries filed
Chapter 11 bankruptcy petitions (Bankr. D. Colo. Proposed Lead Case
No. 15-22848) on Nov. 18, 2015.  The petitions were signed by
Rodney D. Gloss as vice president & chief financial officer.  

Atna also sought ancillary relief in Canada pursuant to the
Companies' Creditors Arrangement Act in the Supreme Court of
British Columbia in Vancouver, Canada.

In its Chapter 11 petition, Atna estimated assets in the range of
$10 million to $50 million and liabilities of $50 million to $100
million.  

Squire Patton Boggs (US) LLP serves as counsel to the Debtors.

On Dec. 14, 2015, the Office of the United States Trustee for the
District of Colorado appointed a statutory committee of unsecured
creditors in the Chapter 11 Cases.  The Committee tapped Onsager,
Guyerson, Fletcher, Johnson as attorneys.


ATNA RESOURCES: Seeks to Extend Exclusive Right to File Plan
------------------------------------------------------------
Atna Resources Inc. asked a bankruptcy court to extend the period
of time during which it alone holds the right to file a Chapter 11
plan.

In a motion, the company asked the U.S. Bankruptcy Court in
Colorado to extend its exclusive right to propose a bankruptcy plan
to June 15, 2016, and to solicit votes from creditors to August 15,
2016.  

The extension would prevent others from filing rival plans in court
and maintain the company's control over its bankruptcy case.

                        About Atna Resources

Headquartered in Lakewood, Colorado, Atna Resources Ltd. --
http://www.atna.com/-- is engaged in all phases of the mining
business, including exploration, preparation of pre-feasibility and
feasibility studies, permitting, construction and development,
operation and final closure of mining properties.  

The Company owns or controls various properties with gold
resources.  The Company's production property includes Briggs Mine
California and Pinson Mine Property, Nevada.  The Company's
development properties include Mag Pit at Pinson; Columbia Project,
Montana and Briggs Satellite Projects, California.  Its exploration
properties include Sand Creek Uranium Joint Arrangement, Wyoming;
Blue Bird Prospect, Montana and Canadian Properties, Yukon and
British Columbia.  Its Closure Property is Kendall, Montana.  The
Briggs mine is located on approximately 156 unpatented claims,
including approximately 15 mill site claims, covering over 2,890
acres.  The Company's Pinson Mine Property is located in Humboldt
County, Nevada, over 30 miles east of Winnemucca.

Atna Resources, Inc. and its direct and indirect subsidiaries filed
Chapter 11 bankruptcy petitions (Bankr. D. Colo. Proposed Lead Case
No. 15-22848) on Nov. 18, 2015.  The petitions were signed by
Rodney D. Gloss as vice president & chief financial officer.  

Atna also sought ancillary relief in Canada pursuant to the
Companies' Creditors Arrangement Act in the Supreme Court of
British Columbia in Vancouver, Canada.

In its Chapter 11 petition, Atna estimated assets in the range of
$10 million to $50 million and liabilities of $50 million to $100
million.  

Squire Patton Boggs (US) LLP serves as counsel to the Debtors.

On Dec. 14, 2015, the Office of the United States Trustee for the
District of Colorado appointed a statutory committee of unsecured
creditors in the Chapter 11 Cases.  The Committee tapped Onsager,
Guyerson, Fletcher, Johnson as attorneys.


AUXILIUM PHARMACEUTICALS: Palo Alto No Longer a Shareholder
-----------------------------------------------------------
Palo Alto Investors, LLC, Patrick Lee, MD, Anthony Joonkyoo Yun, MD
and Palo Alto Healthcare Master Fund II, L.P. disclosed in an
amended Schedule 13G filed with the Securities and Exchange
Commission that as of Dec. 31, 2015, they ceased to beneficially
own shares of common stock of Auxilium Pharmaceuticals, Inc.  A
copy of the regulatory filing is available at http://is.gd/LcHLhG

                          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.

                           *     *     *

The TCR reported in April 2015 that Standard & Poor's Ratings
Services raised its corporate credit rating on Auxilium
Pharmaceuticals Inc. to 'B+' from 'CCC+'.  The outlook is stable.
S&P subsequently withdrew the rating following the company's
acquisition by 'B+' rated Endo International plc.  S&P
withdrew all issue-level ratings following redemption.

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.


AXION INT'L: Files Rule 2015.3 Periodic Report
----------------------------------------------
Axion International Inc. and its affiliated debtors filed a report
with the U.S. Bankruptcy Court in Delaware, disclosing that they
hold 100% stake in ASI Landmark Inc. and Survey Holdings Inc. as of
Dec. 31, 2015.

The report was filed pursuant to Bankruptcy Rule 2015.3, which
required the companies to disclose the value, operations and
profitability of entities in which they hold a substantial or
controlling interest.  

The report is available without charge at http://is.gd/Fwwvk8

                          About Axion

Axion International, Inc., et al., manufacture, market and sell
structural products and building materials, with an emphasis on
railroad ties and construction mats. As of Dec. 2, 2015, Axion had
70 employees.

Axion International Holdings, Inc., is a publicly-traded company
(AXIH), organized under Colorado law, with executive offices
located in Zanesville, Ohio.  As of the Petition Date, Holdings had
54,121,611 shares of common stock, par value $0.016 per share,
traded on the OTCC Bulletin Board.

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12415) on Dec. 2, 2015.

The petitions were signed by Donald W. Fallon, the CFO and
treasurer.  Judge Christopher S. Sontchi has been assigned to the
cases.

The Debtors estimated both assets and liabilities in the range of
$10 million to $50 million.  

The Debtors tapped Bayard, P.A., as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors is represented by
Eric J. Monzo, Esq., at Morris James LLP and Sandra E. Mayerson,
Esquire., at the Law Offices of Sandra Mayerson.


BION ENVIRONMENTAL: To Present at SeeThruEquity Conference
----------------------------------------------------------
Bion Environmental Technologies, Inc. said it will present at the
SeeThruEquity & The Brewer Group 2nd Annual Innovations Investor
Conference in Miami on Feb. 22, 2016.

                     About Bion Environmental

Bion Environmental Technologies Inc.'s patented and proprietary
technology provides a comprehensive environmental solution to a
significant source of pollution in US agriculture, large scale
livestock facilities known as Confined Animal Feeding Operations.
Bion's technology produces substantial reductions of nutrient
releases (primarily nitrogen and phosphorus) to both water and air
(including ammonia, which is subsequently re-deposited to the
ground) from livestock waste streams based upon the Company's
operations and research to date (and third party peer review).

Bion Environmental reported a net loss of $5.6 million on $3,658 of
revenue for the year ended June 30, 2015, compared to a net loss of
$5.8 million on $5,931 of revenue for the year ended
June 30, 2014.

As of Dec. 31, 2015, Bion had $2.06 million in total assets, $13.64
million in total liabilities and a total deficit of $11.58
million.

GHP Horwath, P.C., in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company has not generated
significant revenue and has suffered recurring losses from
operations.  These factors raise substantial doubt about its
ability to continue as a going concern.


BLUBERI GAMING: Chapter 15 Case Summary
---------------------------------------
Chapter 15 Petitioner: Bluberi Gaming Technologies Inc.

Chapter 15 Debtors:

    Bluberi Gaming Technologies Inc.              16-05364
    310-2120 rue Letendre
    Drummondville Quebec
    Canada
   
    Bluberi Group Inc.                            16-05366

    Bluberi USA, Inc.                             16-05367

Type of Business: Sellers of electronic gaming machines

Chapter 15 Petition Date: February 18, 2016

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Timothy A. Barnes

Chapter 15 Petitioner's Counsel: Patrick C. Maxcy, Esq.
                                 DENTONS US LLP
                                 233 South Wacker Drive
                                 Suite 5900
                                 Chicago, IL 60606
                                 Tel: 312 876-2810
                                 Fax: 312 876-7934
                                 Email: patrick.maxcy@dentons.com

Estimated Assets: Unknown

Estimated Debts: Unknown


BLUBERI GAMING: Joint Administration of Cases Sought
----------------------------------------------------
Bluberi Gaming Technologies Inc., in its capacity as the appointed
and the duly authorized foreign representative, asks the Bankruptcy
Court to enter an order directing the joint administration of the
Debtors' Chapter 15 cases for procedural purposes only.  Further,
the Petitioner requests that the Court authorize it to use a
combined service list for the Chapter 15 cases and that combined
notices be sent to the Debtors' creditors and other
parties-in-interest as applicable.

The Petitioner anticipates that the various notices, applications,
motions, other pleadings, hearings, and orders in these cases will
affect all Debtors.
  
"With three closely affiliated Debtors, each with its own case
docket, the failure to jointly administer these cases would result
in numerous duplicative pleadings filed for each issue and served
upon separate service lists.  Such duplication of substantially
identical documents would be wasteful and would unnecessarily
burden the Clerk of this Court," according to Patrick C. Maxcy,
Esq., at Dentons US LLP, counsel to the Petitioner.

Mr. Maxcy said the rights of the respective creditors of each
Debtor will not be adversely affected by the joint administration
of these cases inasmuch as the relief sought is purely procedural
and is in no way intended to affect substantive rights.  Each
creditor and party-in-interest will maintain whatever rights it has
concerning a given Debtor against which it allegedly has a claim or
right, he noted.

                       About Bluberi Gaming

Bluberi Gaming Technologies Inc., Bluberi Group Inc. and Bluberi
USA, Inc., sellers of electronic gaming machines, filed Chapter 15
bankruptcy petitions (Bankr. N.D. Ill. Case Nos. 16-05364, 16-05366
and 16-05367, respectively) on Feb. 18, 2016. Denton US LLP
represents the Petitioner as counsel.  Judge Timothy A. Barnes has
been assigned the case.


BLUBERI GAMING: Seeks U.S. Recognition of CCAA Proceeding
---------------------------------------------------------
Bluberi Gaming Technologies Inc., in its capacity as the duly
authorized foreign representative for itself, Bluberi Group Inc.,
and Bluberi USA, Inc., is seeking recognition in the United States
of an insolvency proceeding currently pending in Canada.  Bluberi
filed under Chapter 15 of the Bankruptcy Code in the U.S.
Bankruptcy Court for the Northern District of Illinois on Feb. 18,
2016.

The Chapter 15 cases were commenced for the purpose of obtaining
the assistance of the Bankruptcy Court in respect of the Canadian
Proceeding and to give effect in the U.S. to the Canadian Court's
Jan. 28, 2016, order approving, among other things, the sale
procedures relating to the Debtors' assets so that Bluberi's U.S.
assets may be sold under that same procedure.

Headquartered in Drummondville, Quebec, Canada, the Debtors are
engaged in the development, sale and deployment of electronic
gaming machines to various casinos in the United States, the
Caribbean, Latin America, and North America.

The Debtors maintained that despite the fact that their center of
main interests and nerve center are in Canada, they have assets
dispersed throughout the U.S.  Specifically, they noted, Bluberi
USA is the owner of two bank accounts at BMO Harris Bank N.A. in
Chicago, Illinois, one of these bank accounts contained a balance
of approximately US$3.2 million as of Feb. 15, 2016.

On Nov. 11, 2015, the Debtors filed a petition before the Superior
Court - Commercial Division, Province of Quebec, District of
Montreal, under Canada's Companies' Creditors Arrangement Act.  The
Debtors maintained they were compelled to file for protection under
the CCAA as agreement on relaxation of lending terms with Callidus
Capital Corporation had not been reached.  The Debtors added that
their financial difficulties were associated with the slower than
expected realization of their business plan.

"Although Bluberi had begun to generate what it considered to be
promising revenues and consistent growth as part of its revised
business strategy, Bluberi Gaming's financial condition declined
precipitously in the second half of 2015," Mr. Patrick C. Maxcy,
Esq., at Dentons US LLP, counsel to the Petitioner, said.

The total outstanding balance of the Callidus Credit Facility is
estimated $93.8 million as of Jan. 31, 2016, Court documents
indicate.

The Canadian Court entered an interim initial order, among other
things, imposing a broad, temporary stay of actions and proceedings
with respect to the Debtors and their assets through March 31,
2016, and appointing Ernst & Young Inc. as monitor in the Canadian
Proceeding. The Canadian Court also granted Bluberi's motion to
appoint Joe Pernica, through Pernica Advisory Services Inc., as its
chief restructuring officer.


Judge Timothy A. Barnes has been assigned the case.


BLUE LEOPARD: Case Summary & 8 Unsecured Creditors
--------------------------------------------------
Debtor: Blue Leopard L.L.C.
        316 Lingering LN.
        Henderson, NV 89012

Case No.: 16-10686

Chapter 11 Petition Date: February 18, 2016

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. Mike K. Nakagawa

Debtor's Counsel: Seth D Ballstaedt, Esq.
                  THE BALLSTAEDT LAW FIRM
                  9555 S. Eastern Ave, Ste #210
                  Las Vegas, NV 89123
                  Tel: (702) 715-0000
                  Fax: (702) 666-8215
                  Email: seth@ballstaedtlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: Washington Mutual BK FA, $153,068

The petition was signed by J Colby Wheeler, managing member.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/nvb16-10686.pdf


BURCON NUTRASCIENCE: E-Concept Holds 5.3% Stake as of Dec. 31
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, E-Concept Ltd. disclosed that as of Dec. 31, 2015, it
beneficially owns 1,895,243 common shares of Burcon NutraScience
Corporation representing 5.3 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                     http://is.gd/gt2PPe

                   About Burcon NutraScience        

Headquartered in Vancouver, Canada, Burcon NutraScience
Corporation has developed a portfolio of composition, application,
and process patents originating from its core protein extraction
and purification technology.  The Company's patented processes
utilize inexpensive oilseed meals and other plant-based sources
for the production of purified plant proteins that exhibit certain
nutritional, functional and nutraceutical profiles.

For the nine months ended Dec. 31, 2015, the Company reported a
loss and comprehensive loss of C$4.95 million on C$73,240 of
revenue compared to a loss and comprehensive loss of C$5.04 million
on C$79,879 of revenue for the nine months ended Dec. 31, 2014.

As of Dec. 31, 2015, Burcon had C$5.56 million in total assets,
C$374,211 in liabilities and $5.18 million in shareholders'
equity.

"As at December 31, 2015, the Company had minimal revenues from its
technology, had an accumulated deficit of C$75,940,041, and had
relied on equity financings, private placements, rights offerings
and other equity transactions to provide the financing necessary to
undertake its research and development activities.  As at December
31, 2015, the Company had cash and cash equivalents of C$1,908,210
and short-term investments of C$1,384,000.  These conditions
indicate existence of a material uncertainty that casts substantial
doubt about the ability of the Company to meet its obligations as
they become due and, accordingly, its ability to continue as a
going concern," the Company stated in its quarterly report for the
period ended Dec. 31, 2015.


CALIFORNIA COMMUNITY: Judge Issues Final Decree to Close Case
-------------------------------------------------------------
A federal judge has ordered to close the Chapter 11 case of
California Community Collaborative Inc.

U.S. Bankruptcy Judge Christopher Klein issued the order upon
request from the company itself, which officially emerged from
bankruptcy protection last month.

Judge Klein approved the restructuring plan proposed by California
Community on Dec. 23 last year.  The plan, which took effect on
Jan. 7, will be funded through the company's leasing business.

The company earns by renting out its office building located at 655
West 2nd Street, San Bernardino, California.

California Community will also fund its plan through refinancing
that will allow the company to pay claims secured by the property
no later than Jan. 30, 2017, and pay general unsecured creditors in
full, according to court filings.  

The restructuring plan grouped claims against and interest in the
company into five classes.  

Class 1 consists of priority non-tax claims while Classes 2 and 4
consist of secured claims and general unsecured claims,
respectively.  Class 3 consists of claims tied to contracts and
leases while Class 5 consists of equity interests in the company
held by Merrell Schexnydre.

General unsecured creditors will receive a distribution of 100% of
their allowed claims, according to the company's disclosure
statement.  

A copy of the latest version of the plan is available without
charge at http://is.gd/tyrIMP

                     About California Community

California Community Collaborative, Inc., owns and rents to
non-residential tenants an office building located at 655 West 2nd
Street, San Bernardino, California.  The building was previously a
Mervyn's retail shopping center before it was acquired and later
remodeled into a two-story, 88,000 square foot office building. The
company was formed by Merrell Schexnydre, who is presently the sole
shareholder and president. The Judicial Council of California
leases about 26,000 square feet of space at the building.

California Community filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Cal. Case No. 14-26351) on June 17, 2014.  Mr. Schexnydre
signed the petition.  Judge Christopher M. Klein presides over the
case.

The Debtor estimated assets of at least $10 million and liabilities
of $1 million to $10 million.

The Debtor tapped Meegan, Hanschu & Kassenbrock as counsel and
CBRE-Inland Commercial Real Estate as broker.

                           *     *     *

California Community on March 26, 2015, filed a proposed
reorganization plan that proposes to pay off unsecured in full in
three years.

The Debtor on May 11, 2015, won approval from the Bankruptcy Court
to enter into a 10-year lease with Rex and Margaret Fortune School
of Education for 39,000 square feet of space at the Debtor's
property.  The Debtor also won approval to borrow as much as
$2,200,000 for the purpose of funding a $1,775,000
tenant-improvement allowance under the lease and for funding the
Debtor's operations.

From $12 million as of the bankruptcy filing, the Debtor believes
the value of the property has risen to $15 million to $16 million
after the execution of the Fortune lease in March 2015.


CAMBRIDGE CAPITAL: Polar Asset No Longer Holds Common Shares
------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Polar Asset Management Partners Inc. disclosed that as
of Dec. 31, 2015, it ceased to beneficially own shares of common
stock of Cambridge Capital Acquisition Corp.  A copy of the
regulatory filing is available at http://is.gd/08n1e7

                    About Cambridge Capital

Cambridge Capital Acquisition Corporation (NASDAQ: CAMB) is a West
Palm Beach, Florida-based blank check company formed for the
purpose of entering into a merger, share exchange, asset
acquisition or other similar business combination with target
businesses or entities.  The company entered into an agreement and
plan of reorganization with Cambridge Holdco Corp., its
wholly-owned subsidiary, Ability Computer & Software Industries
Ltd., an Israeli company whereby Holdco will become the surviving
and new public company.

Cambridge Capital reported a net loss of $1.01 million for the nine
months ended Sept. 30, 2015, compared to a net loss of $678,459 for
the same period in 2014.

"The Company will need to raise additional capital through loans or
additional investments from its shareholders, officers, directors,
or third parties.  None of the shareholders, officers or directors
are under any obligation to advance funds to, or to invest in, the
Company.  Accordingly, the Company may not be able to obtain
additional financing.  If the Company is unable to raise additional
capital, it may be required to take additional measures to conserve
liquidity, which could include, but not necessarily be limited to,
curtailing operations, suspending the pursuit of its business plan,
and reducing overhead expenses.  The Company cannot provide any
assurance that new financing will be available to it on
commercially acceptable terms, if at all.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern," the Company said in its quarterly report for the
period ended Sept. 30, 2015.


CASPIAN SERVICES: Delays Filing of Dec. 31 Form 10-Q
----------------------------------------------------
Caspian Services, Inc. disclosed in a regulatory filing with the
Securities and Exchange Commission that its Form 10-Q for the
period ended Dec. 31, 2015, could not be timely filed because
management requires additional time to compile and verify the data
required to be included in the report.  According to the Company,
the report will be filed within five calendar days of the date the
original report was due.

The Company anticipates that during the three month period ended
Dec. 31, 2015, total revenues will have decreased approximately 40%
compared to the comparable period of the prior fiscal year.  This
decrease is the result of revenue reductions in each segment of our
business which is largely attributable to lack of demand for our
services resulting from the continued delay of development of the
Kashagan field, lower world oil prices and in the case of
geophysical services, the difficult local credit market in
Kazakhstan.  Vessel revenues are expected to be approximately 28%
lower during the three months ended Dec. 31, 2015.  The Company
realized no revenue from geophysical service revenues during the
three months ended Dec. 31, 2015.  Marine base revenue is expected
to be approximately 36% lower in the three month period ended
Dec. 31, 2015.

The Company believes that total costs and operating expenses will
have decreased approximately 37%, during the three month period
ended Dec. 31, 2015.  The Company anticipates a loss from
operations of approximately $0.6 million during the three month
period ended Dec. 31, 2015, which is in line with the loss from
operations incurred during the three month period ended Dec. 31,
2014.

The Company expects to realize an increase in net other expenses of
approximately $14 million during the three months ended
Dec. 31, 2015, compared to the three months ended Dec. 31, 2014.
This increase is principally attributable to an increase in foreign
currency transaction loss of approximately $13.4 million due
primarily to the remeasurement of certain debt obligations of the
Company's subsidiaries following the decision of the National Bank
of the Republic of Kazakhstan to switch the Kazakhstan tenge to a
free-floating exchange rate and the resultant significant change in
the Kazakhstan tenge/US dollar exchange rate.

As a result of the foregoing factors, during the three months ended
Dec. 31, 2015, the Company anticipates realizing a net loss
attributable to Caspian Services of approximately $13.4 million,
compared to a loss of $2.3 million during the same period of fiscal
2014.

The Company anticipates comprehensive loss attributable to Caspian
Services, Inc. during the three month period ended Dec. 31, 2015,
to be approximately 229% higher compared to the same period of the
prior fiscal year.

                       About Caspian Services

Headquartered in Salt Lake City, Caspian Services, Inc., was
incorporated under the laws of the state of Nevada on July 14,
1998.  Since February 2002 the Company has concentrated its
business efforts to provide diversified oilfield services to the
oil and gas industry in western Kazakhstan and the Caspian Sea,
including providing a fleet of vessels, onshore, transition zone
and marine seismic data acquisition and processing services and a
marine supply and support base in the port of Bautino, in Bautino
Bay, Kazakhstan.


Caspian reported a net loss of $33.2 million on $16.4 million of
total revenues for the year ended Sept. 30, 2015, compared to a net
loss of $18.8 million on $29.9 million of total revenues for the
year ended Sept. 30, 2014.

As of Sept. 30, 2015, the Company had $43.1 million in total
assets, $109.9 million in total liabilities, all current, and a
$66.8 million total deficit.

Haynie & Company, P.C., in Salt Lake City, Utah, the Company's
independent accounting firm, included a "going concern"
qualification in its report on the consolidated financial
statements for the year ended Sept. 30, 2015.

                       Bankruptcy Warning

"As of September 30, 2015 the outstanding amount due under the
Balykshi Loan was $27,968.  In addition, were EBRD to accelerate
its put option the accelerated put price would be $10,000 plus an
internal rate of return of 20% per annum.  At September 30, 2015
this repayment obligation was $23,644.  Additionally, as noted
above, after increasing our ownership share in MOBY to
approximately 66% through the acquisition of Kyran, we are required
to consolidate MOBY's financial statements into the Company's
financial statements.  As a result, the EBRD Loan to MOBY has been
consolidated into the Company's financial statements.  At September
30, 2015 the balance of the EBRD Loan to MOBY was $6,314.  Pursuant
to the EBRD-MOBY financing agreements, repayment of approximately
60% of this loan balance is guaranteed by the MOBY minority
shareholder and approximately 31% is guaranteed by Caspian
Services, Inc.  Given the difficult equity and credit markets and
our current financial condition, we believe it would be very
difficult, if not impossible, to obtain funding to repay these
obligations.  If we were unable to repay the loans or satisfy the
put, we anticipate EBRD could seek any legal remedies available to
it to obtain repayment of its loans and its put right.  These
remedies could include forcing the Company into bankruptcy."


CENOVUS ENERGY: Moody's Gives Ba2 CFR & Cuts Unsec. Notes to Ba2
----------------------------------------------------------------
Moody's Investors Service downgraded Cenovus Energy Inc.'s senior
unsecured notes rating to Ba2 from Baa2 and its commercial paper
rating to Not Prime from Prime-2. Moody's assigned Cenovus a Ba2
Corporate Family Rating (CFR), a Ba2-PD Probability of Default
Rating and a Speculative Grade Liquidity Rating of SGL-1. The
rating outlook is stable. This action resolves the review for
possible downgrade that was initiated on December 16, 2015.

"The downgrade of Cenovus reflects the material decline in its cash
flow and significantly weakened leverage and interest coverage
metrics in the current oil price environment in which its cost of
production is above its realized prices," said Terry Marshall,
Moody's Senior Vice President.

Downgrades:

Issuer: Cenovus Energy Inc.

-- Senior Unsecured Commercial Paper, Downgraded to NP from P-2

-- Senior Unsecured Medium-Term Note Program, Downgraded to
    (P)Ba2 from (P)Baa2

-- Senior Unsecured Regular Bond/Debenture, Downgraded to
    Ba2(LGD4) from Baa2

-- Senior Unsecured Shelf, Downgraded to (P)Ba2 from (P)Baa2

Assignments:

Issuer: Cenovus Energy Inc.

-- Probability of Default Rating, Assigned Ba2-PD

-- Speculative Grade Liquidity Rating, Assigned SGL-1

-- Corporate Family Rating, Assigned Ba2

Outlook Actions:

Issuer: Cenovus Energy Inc.

-- Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

Cenovus' Ba2 CFR reflects its high leverage and very weak interest
coverage in 2016 (retained cash flow to debt and debt to EBITDA of
8% and 5.7x), improving in 2017. Cenovus has substantial high
quality reserves and steam assisted gravity drainage (SAGD)
production in the Athabasca oil sands region, but it is uneconomic
at todays' oil prices. Cenovus benefits from a very large cash
position that will more than fund Moody's expectation of negative
free cash flow of about C$1.4 billion through 2017. Cenovus also
benefits from 50% interests in two downstream refineries that
reduce exposure to volatile light/heavy oil price differentials.

The SGL-1 Speculative Grade Liquidity Rating reflects Cenovus' very
good liquidity through 2016. At December 31, 2015, Cenovus had
C$4.1 billion in cash and an undrawn C$4 billion unsecured
revolving credit facility (which is comprised of C$1 billion
tranche due November 2017 and a C$3 billion tranche due November
2019). We expect negative free cash flow of about C$800 million
through 2016 to be funded with cash. Cenovus' C$2 billion
commercial paper (CP) program is rated Not Prime. It is
back-stopped by Cenovus' C$4.0 billion revolver. We expect Cenovus
to limit same day CP maturities to C$500 million or less. Cenovus
should be well in compliance with its only financial covenant.
Cenovus has assets through which it could raise alternate liquidity
via outright sale or joint venture arrangements.

In accordance with Moody's Loss Given Default (LGD) Methodology,
the senior unsecured notes are rated Ba2, at the CFR, as all the
debt in the capital structure is unsecured. If the revolving credit
facility becomes secured, the notes would likely be notched lower
than the CFR.

The stable rating outlook reflects our expectation of improving
cash flow-based leverage metrics in 2017 and Cenovus' large cash
position that funds negative free cash flow.

The rating could be upgraded to Ba1 if it appears that RCF/Debt
will improve towards 20%.

The rating could be downgraded to Ba3 if RCF/debt appears likely to
remain below 10%, or if cash is used for a purpose other than
funding anticipated negative free cash flow.

Cenovus is a Calgary, Alberta-based exploration and production
company, focused primarily on steam assisted drainage oil sands,
with interests in downstream refinery assets.


CHINA BAK: Incurs $2.13 Million Net Loss in First Quarter
---------------------------------------------------------
China BAK Battery, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of US$2.13 million on US$5.50 million of net revenues for the three
months ended Dec. 31, 2015, compared to net profit of US$17.38
million on US$3.07 million of net revenues for the same period in
2014.

As of Dec. 31, 2015, the Company had US$64.28 million in total
assets, US$44.85 million in total liabilities and US$19.42 million
in total shareholders' equity.

As of Dec. 31, 2015, the Company had cash and cash equivalents of
US$0.08 million.  The Company's total current assets were US$20.0
million and its total current liabilities were US$37.9 million,
resulting in a net working capital deficiency of US$17.9 million.
The Company said these factors raise substantial doubts about its
ability to continue as a going concern.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/c5RJOb

                          About China BAK

China BAK Battery conducted business through BAK International
Limited and its subsidiaries that produced prismatic cells,
cylindrical cells, lithium polymer cells and high power lithium
batters.  The BAK International business was foreclosed on
June 30, 2014.  Consequently, China BAK is looking to develop,
manufacture and sell energy high power lithium batteries primarily
for electric vehicles when its Dalian, China manufacturing
facilities start to operate in the first quarter of 2015.

China BAK reported net profit of US$15.87 million for the year
ended Sept. 30, 2015, compared to net profit of US$37.77 million
for the year ended Sept. 30, 2014.

Crowe Horwath (HK) CPA Limited, in Hong Kong, China, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Sept. 30, 2015, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Sept. 30, 2015.  All these
factors raise substantial doubt about its ability to continue as a
going concern.


CHINA GINSENG: Needs More Time to File Dec. 31 Form 10-Q
--------------------------------------------------------
China Ginseng Holdings, Inc. disclosed in a regulatory filing with
the Securities and Exchange Commission it was unable to file its
quarterly report on Form 10-Q for the three months and six months
ended Dec. 31, 2015, and 2014, within the prescribed time period
because the Company has not been able to obtain and assimilate all
information required to complete its accounting and disclosures
along with the XBRL tagging needed for a complete filing.

                     About China Ginseng

Changchun City, China-based China Ginseng Holdings, Inc., conducts
business through its four wholly-owned subsidiaries located in
China.  The Company has been granted 20-year land use rights to
3,705 acres of lands by the Chinese government for ginseng
planting and it controls, through lease, approximately 750 acres
of grape vineyards.  However, recent harvests of grapes showed
poor quality for wine production which indicates that the
vineyards are no longer suitable for planting grapes for wine
production.  Therefore, the Company has decided not to renew its
lease for the vineyards with the Chinese government upon
expiration in 2013 and, going forward, it intends to purchase
grapes from the open market in order to produce grape juice and
wine.

China Ginseng reported a net loss of $3.90 million on $272,600 of
revenue for the year ended June 30, 2015, compared with a net loss
of $4.76 million on $2.61 million of revenue for the year ended
June 30, 2014.

As of Sept. 30, 2015, the Company had $8.58 million in total
assets, $19.09 million in total liabilities and a total
stockholders' deficit of $10.5 million.

Cowan, Gunteski & Co., P.A., in Tinton Falls, NJ, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company had net
losses of $3.90 million and $4.76 million for the years ended
June 30, 2015 and 2014, respectively, an accumulated deficit of
$18.1 million at June 30, 2015 and a working capital deficit of
$16.5 million at June 30, 2015, and there are existing uncertain
conditions the Company faces relative to its ability to obtain
working capital and operate successfully.  These conditions raise
substantial doubt about its ability to continue as a going concern.


CLIFFS NATURAL: Bank of America Reports 1.2% Stake as of Dec. 31
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Bank of America Corp. diclosed that as of Dec. 31,
2015, it beneficially owns 1,839,949 shares of common stock of
Cliffs Natural Resources Inc. representing 1.20 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/e71qnL

                   About Cliffs Natural Resources

Cliffs Natural Resources Inc. --
http://www.cliffsnaturalresources.com/-- is a mining and natural
resources company.  The Company is a major supplier of iron ore
pellets to the U.S. steel industry from its mines and pellet plants
located in Michigan and Minnesota.  Cliffs also produces
low-volatile metallurgical coal in the U.S. from its mines located
in West Virginia and Alabama.  Additionally, Cliffs operates an
iron ore mining complex in Western Australia and owns two
non-operating iron ore mines in Eastern Canada.  Driven by the core
values of social, environmental and capital stewardship, Cliffs'
employees endeavor to provide all stakeholders operating and
financial transparency.

On Jan. 27, 2015, Bloom Lake General Partner Limited and certain of
its affiliates, including Cliffs Quebec Iron Mining ULC commenced
restructuring proceedings in Montreal, Quebec, under the Companies'
Creditors Arrangement Act (Canada).  The initial CCAA order will
address the Bloom Lake Group's immediate liquidity issues and
permit the Bloom Lake Group to preserve and protect its assets for
the benefit of all stakeholders while restructuring and sale
options are explored.

The Company reported a net loss of $8.31 billion in 2014 following
net income of $362 million in 2013.

As of Dec. 31, 2015, the Company had $2.13 billion in total assets,
$3.94 billion in total liabilities and a total deficit of $1.81
billion.

                          *    *     *

As reported by the TCR on Feb. 1, 2016, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on
Cleveland-based iron ore producer Cliffs Natural Resources Inc. to
'CC' from 'B'.  The rating action reflects Cliffs' Jan. 27, 2016,
announcement of a private debt exchange offer for its second-lien
and senior unsecured debt.

The TCR reported on Jan. 8, 2016, that Moody's Investors Service
downgrade Cliffs Natural Resources Inc. Corporate Family Rating and
Probability of Default Rating to Caa1 and Caa1-PD from B1 and B1-PD
respectively.  The downgrade reflects the deterioration in the
company's debt protection metrics and increase in leverage as a
result of continued downward movement in iron ore prices and weak
fundamentals in the US steel industry, which are resulting in lower
shipment levels.


COATES INTERNATIONAL: Gets $31,000 From Sale of Securities
----------------------------------------------------------
Coates International, Ltd. disclosed in a Form 8-K report filed
with the Securities and Exchange Commission that it received
proceeds of $31,000, net of financing costs of $2,000, in
connection with a Securities Purchase Agreement and related
convertible promissory note, dated Feb. 12, 2016, in the face
amount of $33,000 issued to APG Capital Holdings, LLC, an
independent third party accredited investor.

The Promissory Note matures in February 2017 and provides for
interest at the rate of 10% percent per annum.  The Note may be
converted into unregistered shares of the Company's common stock,
par value $0.0001 per share, at the Conversion Price, as defined,
in whole, or in part, at any time beginning 180 days after the date
of the Note, at the option of the Holder.  All outstanding
principal and unpaid accrued interest is due at maturity, if not
converted prior thereto.

The Conversion Price will be equal to 62% multiplied by the Market
Price, as defined.  The Market Price will be equal to the lowest
trading price of the Company's common stock on the OTC Pink during
the 25 trading-day period ending one trading day prior to the date
of conversion by the Holder.  The Holder anticipates that upon any
conversion, the shares of stock it receives from the Company will
be freely tradable in reliance on an exemption from registration
under Rule 144 of the U.S. Securities and Exchange Commission.

These notes may be prepaid during the first six months the notes
are outstanding by paying a prepayment penalty 50%.  The Company
has reserved 100,000,000 shares of its unissued common stock for
potential conversion of the convertible note.

The convertible promissory note was privately offered and sold to
the Holder in reliance on specific exemptions from the registration
requirements of the United States federal and state securities laws
which the Registrant believes are available to cover this
transaction based on representations, warranties, agreements,
acknowledgements and understandings provided to the Registrant by
the Holder.

                           About Coates

Based in Wall Township, N.J., Coates International, Ltd.
(OTC BB: COTE) -- http://www.coatesengine.com/-- was
incorporated on August 31, 1988, for the purpose of researching,
patenting and manufacturing technology associated with a spherical
rotary valve system for internal combustion engines.  This
technology was developed over a period of 15 years by Mr. George
J. Coates, who is the President and Chairman of the Board of the
Company.

The Coates Spherical Rotary Valve System (CSRV) represents a
revolutionary departure from the conventional poppet valve.  It
changes the means of delivering the air and fuel mixture to the
firing chamber of an internal combustion engine and of expelling
the exhaust produced when the mixture ignites.

As of June 30, 2015, the Company had $2.4 million in total assets,
$7.5 million in total liabilities and a stockholders' deficit of
$5.1 million.

In its report on the consolidated financial statements for the
year ended Dec. 31, 2014, Cowan, Gunteski & Co., P.A., expressed
substantial doubt about the Company's ability to continue as a
going concern, citing that the Company continues to have negative
cash flows from operations, recurring losses from operations, and a
stockholders' deficiency.


CORPORATE RISK: S&P Hikes CCR to CCC+ on New Capital Structure
--------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its 'CCC+'
corporate credit rating on New York-based Corporate Risk Holdings
LLC. The outlook is negative.

S&P said, "We also assigned our 'CCC+' issue-level rating on the
company's first-lien credit facilities, including the $60 million
revolving facility due 2018, $275 million term loan ($229 million
outstanding) due 2018, and $825 million notes ($682 million
outstanding) due 2019. We assigned our 'CCC-' issue-level rating on
the $96 million second-lien notes due 2020. We also assigned
recovery ratings on the first-lien facilities of '3', which
indicates our expectation for creditors to receive meaningful (50%
to 70%, at the low-end of the range) recovery in the event of
payment default, and on the second-lien notes, recovery ratings of
'6', which indicates our expectation for creditors to receive
negligible (0% to 10%) recovery in the event of payment default.
Total debt is approximated at $1 billion upon emergence.

"We are raising our ratings on Corporate Risk Holdings as it
emerged from bankruptcy with about $700 million less debt. The
following pre-emergence debt, including the $480 million
second-lien notes, the $61 million third-lien notes, the $22
million senior unsecured notes, and the $29 million senior
subordinated notes was converted to equity. The junior subordinated
notes were eliminated in bankruptcy. In addition, it sold its Kroll
Factual Data business and the remnant of the government services
business using the proceeds to reduce debt."

S&P said, "The ratings on Corporate Risk Holdings reflects its
highly leveraged financial condition and liquidity dependent on
favorable business conditions to support its high post-emergence
debt burden. We have also factored into our ratings the company's
weak cash flow forecast for 2016 and our view it has less than
adequate liquidity. We expect that its debt-to-EBITDA ratio will
remain elevated, near 9x in 2016 and 8x in 2017. We also expect
funds from operations (FFO) will be near negative $8 million in
2016 and improve to about $15 million in 2017. Over the next 3-5
years, we expect leverage will remain above 7x given its weak cash
flow generation capabilities and financial sponsor ownership. We
expect the sponsors to focus on growth which could restrict the
company from materially strengthening its credit metrics for an
extended time period.

"We expect the company will rebuild its reputation. Ratings also
reflect Corporate Risk Holdings' narrow business focus. The company
consists of the HireRight business, which competes in the
pre-employment screening industry and Kroll, which provides
technology-driven legal services and investigative, consulting and
security services. We consider these units to each be a small
participant their respective sectors."

"We expect the company will rebuild its reputation and be able to
grow its existing businesses. Moreover, both sectors in which it
competes continue to benefit from tailwinds from increasing focus
on minimizing employment hiring mistakes and minimizing exposure to
event risk or IT intrusion," said Standard & Poor's credit analyst
Peter Deluca.

The negative outlook reflects S&P's view that Corporate Risk
Holdings is dependent on favorable business conditions to support
its high post-emergence debt burden. Although it expects the
company to restore its reputation and grow its existing businesses,
the company has significant debt burden and leverage could be
unsustainable if it does not effectively execute its operations.
S&P could lower ratings if the company's free cash flow does not
turn positive in 2017 or liquidity becomes constrained by it having
to fund operations.


CROWN MEDIA: Posts $38.8 Million Net Income for Fourth Quarter
--------------------------------------------------------------
Crown Media Holdings, Inc., reported net income of $38.9 million on
$159 million of net total revenue for the three months ended Dec.
31, 2015, compared to net income of $51.6 million on $134 million
of net total revenue for the same period in 2014.

For the year ended Dec. 31, 2015, the Company reported net income
of $86.1 million on $479 million of net total revenue compared to
net income of $94.5 million on $416 million of net total revenue
for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $1.08 billion in total assets,
$509 million in total liabilities and $580 million in total
stockholders' equity.

"2015 marked another year of significant achievements with the
expansion of our subscriber base, strong growth in audience for
both channels and double-digit quarterly advertising sales
increases," said Bill Abbott, president and CEO of Crown Media
Family Networks.  "Forging ahead in 2016, we will continue to focus
on being the celebration destination for viewers with events such
as Winterfest, Countdown to Valentine's Day, June Weddings,  Fall
Harvest, and Thanksgiving Weekend Event."   

A full-text copy of the press release is available for free at:

                     http://is.gd/h8s0R6

                      About Crown Media

Crown Media Holdings, Inc., is the corporate parent for the
portfolio of cable networks and related businesses under Crown
Media Family Networks.  The company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 86 million subscribers in the U.S.
Hallmark Channel is the nation's leading destination for quality
family programming with an ambitious slate of TV movies and
specials; original scripted series, including Cedar Cove, When
Calls the Heart, and Signed, Sealed, Delivered; as well as some of
television's most beloved sitcoms and series.  Hallmark Channel's
sibling network, Hallmark Movie Channel, is available in 54
million homes in HD and SD. One of America's fastest-growing cable
networks, Hallmark Movie Channel provides family-friendly original
movies with a mix of original films, classic theatrical releases,
and presentations from the acclaimed Hallmark Hall of Fame
library.  In addition, Crown Media Family Networks includes the
online offerings of http://www.HallmarkChannel.com/and
http://www.HallmarkMovieChannel.com/     

                           *     *     *

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said that it raised its corporate credit rating on Crown
Media Holdings Inc. to 'BB-' from 'B+'.  "The upgrade reflects
Crown Media's improved financial risk profile," said Standard &
Poor's credit analyst Naveen Sarma.

As reported by the TCR on July 2, 2014, Moody's Investors Service
upgraded the Corporate Family Rating (CFR) of Crown Media
Holdings, Inc. to B1 from B2, its Probability of Default Rating to
B1-PD from B2-PD, and instrument ratings.  The outlook is stable.
The upgrade incorporates evidence of traction with the original
programming strategy and better than expected performance, which,
combined with debt reduction, improved the credit profile.


CROWN MEDIA: Reports $86.1 Million Net Income for 2015
------------------------------------------------------
Crown Media Holdings, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$86.1 million on $479 million of net total revenue for the year
ended Dec. 31, 2015, compared to net income of $94.5 million on
$416 million of net total revenue for the year ended Dec. 31,
2014.

As of Dec. 31, 2015, Crown Media had $1.08 billion in total assets,
$509 million in total liabilities and $580 million in total
stockholders' equity.

                        Bankruptcy Warning

"If our operating performance declines, we may in the future need
to seek waivers from the required lenders under our 2015 Credit
Agreement to avoid being in default.  We cannot assure that such
waivers will be granted or that we will otherwise be able to avoid
a default.  If we are unable to generate sufficient cash flow and
are otherwise unable to obtain funds necessary to meet required
payments of principal, premium, if any, or interest on such
indebtedness, or if we otherwise fail to comply with the various
covenants, including financial and operating covenants, in the
instruments governing our indebtedness, including our 2015 Credit
Agreement, we could be in default under the terms of the agreements
governing such indebtedness.  In the event of such default, the
holders of such indebtedness could elect to declare all of the
funds borrowed thereunder to be due and payable, together with any
accrued and unpaid interest, the lenders under our 2015 Credit
Agreement could elect to terminate their commitments, cease making
further loans, foreclose on our assets pledged to such lenders to
secure our obligations under the 2015 Credit Agreement, in each
case, which could force us into voluntary or involuntary bankruptcy
or cause us to discontinue operations or seek a purchaser of our
business or assets.  In addition, a default under our 2015 Credit
Agreement would trigger a cross default under our other agreements
and could trigger a cross default under any agreements governing
our future indebtedness," the Company stated in the report.

A full-text copy of the Form 10-K is available for free at:

                     http://is.gd/Ui0C7x

                      About Crown Media

Crown Media Holdings, Inc., is the corporate parent for the
portfolio of cable networks and related businesses under Crown
Media Family Networks.  The company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 86 million subscribers in the U.S.
Hallmark Channel is the nation's leading destination for quality
family programming with an ambitious slate of TV movies and
specials; original scripted series, including Cedar Cove, When
Calls the Heart, and Signed, Sealed, Delivered; as well as some of
television's most beloved sitcoms and series.  Hallmark Channel's
sibling network, Hallmark Movie Channel, is available in 54
million homes in HD and SD. One of America's fastest-growing cable
networks, Hallmark Movie Channel provides family-friendly original
movies with a mix of original films, classic theatrical releases,
and presentations from the acclaimed Hallmark Hall of Fame
library.  In addition, Crown Media Family Networks includes the
online offerings of http://www.HallmarkChannel.com/and
http://www.HallmarkMovieChannel.com/     

                           *     *     *

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said that it raised its corporate credit rating on Crown
Media Holdings Inc. to 'BB-' from 'B+'.  "The upgrade reflects
Crown Media's improved financial risk profile," said Standard &
Poor's credit analyst Naveen Sarma.

As reported by the TCR on July 2, 2014, Moody's Investors Service
upgraded the Corporate Family Rating (CFR) of Crown Media
Holdings, Inc. to B1 from B2, its Probability of Default Rating to
B1-PD from B2-PD, and instrument ratings.  The outlook is stable.
The upgrade incorporates evidence of traction with the original
programming strategy and better than expected performance, which,
combined with debt reduction, improved the credit profile.


CTI BIOPHARMA: Incurs $122.6 Million Net Loss in 2015
-----------------------------------------------------
CTI Biopharma Corp. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common shareholders of $122.62 million on $16.11
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss attributable to common shareholders of
$95.99 million on $60.07 million of total revenues for the year
ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $144.33 million in total
assets, $96.91 million in total liabilities and $47.41 million in
total shareholders' equity.

The Company's independent registered public accounting firm
included an explanatory paragraph in its reports on its
consolidated financial statements for each of the years ended
Dec. 31, 2007, through Dec. 31, 2011, and for the year ended
Dec. 31, 2014, regarding their substantial doubt as to the
Company's ability to continue as a going concern.  The Company said
that although its independent registered public accounting firm
removed this going concern explanatory paragraph in its report on
our Dec. 31, 2015, consolidated financial statements, the Company
expects to continue to need to raise additional financing to fund
its operations and satisfy obligations as they become due.
According to the Company, the inclusion of a going concern
explanatory paragraph in future years may negatively impact the
trading price of its common stock and make it more difficult, time
consuming or expensive to obtain necessary financing, and the
Company cannot guarantee that it will not receive such an
explanatory paragraph in the future.

A full-text copy of the Form 10-K is available for free at:

                      http://is.gd/sZLutS

                      About CTI BioPharma

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) --
http://www.ctibiopharma.com/-- formerly known as Cell
Therapeutics, Inc., is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
The Company has a commercial presence in Europe and a late-stage
development pipeline, including pacritinib, CTI's lead product
candidate that is currently being studied in a Phase 3 program for
the treatment of patients with myelofibrosis.  CTI BioPharma is
headquartered in Seattle, Washington, with offices in London and
Milan under the name CTI Life Sciences Limited.


DIVERSIFIED RESOURCES: Appoints Principal Accounting Officer
------------------------------------------------------------
Diversified Resources, Inc. appointed Abdul Khan as its principal
financial and accounting officer effective Feb. 17, 2016, according
to a document filed with the Securities and Exchange Commission.

Between July 2014 and Feb. 17, 2016, Mr. Khan provided consulting
services to the Company in the areas of accounting, financial
reporting and finance.  Between August 2013 and July 2014 Mr. Khan
was the controller for High Sierra Energy LP.  In this capacity,
he was responsible for accounting and corporate reporting for the
crude oil, water, natural gas liquids and transportation
departments of High Sierra.  Between March 2013 and August 2013
Mr. Khan was the controller for Equal Energy Ltd.  Between  January
2009 and February 2013 Mr. Khan was the Executive  Director of
Financial Reporting for Dollar Thrifty Automotive  Group, Inc.,
where he was responsible for directing the financial reporting
department of Dollar Thrifty, including all SEC filings
and internal financial reports.  He is a member of the Oklahoma
Society of Certified Public Accountants and the Colorado Society of
Certified Public Accountants.  Mr. Khan graduated from the
University of Oklahoma with a Bachelor's Degree in Business
Administration, majoring in Accounting.  Mr. Khan also received a
Master's of Business Administration Degree from Oklahoma City
University.

Mr. Khan owns 150,000 shares of the Company's common stock.

                   About Diversified Resources

Diversified Resources Inc. is active in oil and gas exploration and
production in the Rocky Mountain region of the U.S.  The Company
maintains its headquarters in Littleton, Colorado.

As of July 31, 2015, the Company had $9.99 million in total assets,
$4.87 million in total liabilities and $5.11 million in total
stockholders' equity.

The Company has incurred significant operating losses since
inception, has an accumulated deficit of $4,196,199 and has
negative working capital of $1,137,099 at July 31, 2015.  As of
July 31, 2015, the Company has limited financial resources.  These
factors, according to the Company, raise substantial doubt about
its ability to continue as a going concern.


DIVERSIFIED RESOURCES: Appoints Two Directors
---------------------------------------------
Diversified Resources, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it appointed Eric Whitehead
and Michael Miller as directors on Feb. 11, 2016.

Mr. Whitehead has over 11 years of experience in finance and
consulting.  He is a Certified Financial Planner and was a   Senior
Consultant/Financial Advisor with K-Coe ISOM between 2006 and 2014.
While at K-Coe ISOM, Mr. Whitehead advised multi-generational
family businesses and high net worth families on their wealth
transfer, tax planning, investment management
and risk management needs and wants.  Mr. Whitehead left KCEO ISOM
in 2014 to help found and build Ultra Energy Solutions, and later
Vinco Logistics, both oilfield services companies.  Mr. Whitehead
has been Ultra Energy's chief executive officer since 2014 and
Vinco's chief executive officer since 2015.

Mr. Miller started in the oil field business as a roustabout in
2005.  In 2006 Mr. Miller formed Champion Oilfield Service,  an
oilfield service company, and has grown Champion from one employee
to over 40.  Mr. Miller has been Champion's chief executive officer
and president since 2006.

Mr.  Whitehead, through his ownership in KW Capital, LLC, owns
3,642,090 shares of the Company's common stock.

Mr. Miller owns 5,032,710 shares of the Company's common stock.

                 About Diversified Resources

Diversified Resources Inc. is active in oil and gas exploration and
production in the Rocky Mountain region of the U.S.  The Company
maintains its headquarters in Littleton, Colorado.

Diversified Resources, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$4.81 million on $602,980 of operating revenues for the year ended
Oct. 31, 2015, compared to net income of $726,120 on $161,623 of
operating revenues for the year ended Oct. 31, 2014.

As of Oct. 31, 2015, the Company had $7.87 million in total assets,
$5.20 million in total liabilities and $2.67 million in total
stockholders' equity.

Frazier & Deeter, LLC, in Atlanta, Georgia, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Oct. 31, 2015, citing that the Company has an
accumulated deficit and has incurred significant operating losses
and has a working capital deficit.  These factors raise substantial
doubt about the Company's ability to continue as a going concern.


DIVERSIFIED RESOURCES: Incurs $4.81 Million Net Loss in 2015
------------------------------------------------------------
Diversified Resources, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$4.81 million on $602,980 of operating revenues for the year ended
Oct. 31, 2015, compared to net income of $726,120 on $161,623 of
operating revenues for the year ended Oct. 31, 2014.

As of Oct. 31, 2015, the Company had $7.87 million in total assets,
$5.20 million in total liabilities and $2.67 million in total
stockholders' equity.

Frazier & Deeter, LLC, in Atlanta, Georgia, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Oct. 31, 2015, citing that the Company has an
accumulated deficit and has incurred significant operating losses
and has a working capital deficit.  These factors raise substantial
doubt about the Company's ability to continue as a going concern.

A full-text copy of the Form 10-K is available for free at:

                       http://is.gd/YuGqub

                   About Diversified Resources

Diversified Resources Inc. is active in oil and gas exploration and
production in the Rocky Mountain region of the U.S.  The Company
maintains its headquarters in Littleton, Colorado.


DORAL FINANCIAL: Meeting of Creditors Set for March 3
-----------------------------------------------------
The meeting of creditors of Doral Properties Inc., an affiliate of
Doral Financial Corp., is set to be held on March 3, 2016, at 3:00
p.m., according to a filing with the U.S. Bankruptcy Court for the
Southern District of New York.

The meeting will be held at the Office of the U.S. Trustee, 4th
Floor, 80 Broad Street, New York.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                     About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices in
New York City, Coral Gables, Florida and San Juan, Puerto Rico.
DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.  The case is assigned to
Judge Shelley C. Chapman.

DFC estimated $50 million to $100 million in assets and $100
million to $500 million in debt as of the bankruptcy filing.

The Debtor tapped Ropes & Gray LLP as counsel.

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.  The Committee is
represented by Brian D. Pfeiffer, Esq., and Taejin Kim, Esq., at
Schulte Roth & Zabel LLP.

On Nov. 25, 2015, Doral Properties filed a voluntary petition with
the Court for relief under Chapter 11 of the Bankruptcy Code.

The Office of the U.S. Trustee appointed five creditors to the
official committee of unsecured creditors.  Schulte Roth & Zabel
LLP represents the committee.


DOVER DOWNS: Gates Capital No Longer Holds Common Shares
--------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Gates Capital Management, L.P., Gates Capital
Management GP, LLC, Gates Capital Management, Inc., and Jeffrey L.
Gates disclosed that as of Dec. 31, 2015, they have ceased to
beneficially own shares of common stock of Dover Downs Gaming &
Entertainment, Inc.  A copy of the regulatory filing is available
for free at http://is.gd/gu4IaB

                       About Dover Downs

Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE),
Dover Downs Hotel & Casino(R) is a gaming and entertainment resort
destination in the Mid-Atlantic region.  Gaming operations consist
of approximately 2,500 slots and a full complement of table games
including poker.  The AAA-rated Four Diamond hotel is Delaware's
largest with 500 luxurious rooms/suites and amenities including a
full-service spa/salon, concert hall and 41,500 sq. ft. of multi-
use event space.  Live, world-class harness racing is featured
November through April, and horse racing is simulcast year-round.
Professional football parlay betting is accepted during the
season.  Additional property amenities include multiple
restaurants from fine dining to casual fare, bars/lounges and
retail shops.  Visit http://www.doverdowns.com/            

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company's credit facility
expires on Sept. 30, 2015, and at present no agreement has been
reached to refinance the debt, which raises substantial doubt about
the Company's ability to continue as a going concern.

For the year ended Dec. 31, 2015, the Company reported net earnings
of $1.87 million on $182.94 million of revenues compared to a net
loss of $706,000 on $185.38 million of revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $173.95 million in total
assets, $58.94 million in total liabilities and $115 million in
total stockholders' equity.


DRAFTDAY FANTASY: Borrows $220,000 From Sillerman
-------------------------------------------------
As previously reported by DraftDay Fantasy Sports, Inc. on a Form
8-K filed on Feb. 2, 2016, Sillerman Investment Company VI LLC, an
affiliate of Robert F.X. Sillerman, the executive chairman and
chief executive officer, entered into a secured revolving loan
agreement the Company and its subsidiaries, wetpaint.com, Inc. and
Choose Digital Inc., pursuant to which the Company can borrow up to
$1,500,000.

On Feb. 12, 2016, the Company borrowed an additional $60,000 under
the Secured Revolving Loan.

On Feb. 18, 2016, the Company borrowed an additional $160,000 under
the Secured Revolving Loan.

                         About DraftDay

DraftDay Fantasy Sports Inc., formerly known as Viggle Inc., offers
a high quality daily fantasy sports experience directly to
consumers and to businesses desiring turnkey solutions to new
revenue streams.  DraftDay Fantasy Sports Inc. is the largest
shareholder of DraftDay Gaming Group, with a 44% stake.  Sportech
owns 35%.  By combining and capitalizing on the well-established
operational business assets of DraftDay and Sportech, the new
DraftDay is well-positioned to become a significant player in the
explosive fantasy sports market.  DraftDay has paid out over $30
million in prizes with increased player retention and brand
loyalty.  DraftDay Fantasy Sports also operates MyGuy and Viggle
Football both of which offer real-time interactive participation
with professional and college football games; Wetpaint, which
offers entertainment and celebrity news; and Choose Digital, a
digital marketplace platform that allows companies to incorporate
digital content into existing rewards and loyalty programs in
support of marketing and sales initiatives.

Viggle reported a net loss attributable to common stockholders of
$78.9 million on $25.5 million of revenue for the year ended
June 30, 2015, compared to a net loss attributable to common
stockholders of $68.1 million on $18.0 million of revenues for the
year ended June 30, 2014.

As of Sept. 30, 2015, the Company had $74.0 million in total
assets, $59.8 million in total liabilities, $12.04 million in
series C convertible preferred stock and $2.10 million in total
stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2015, citing that the Company has suffered recurring
losses from operations and at June 30, 2015, has a deficiency in
working capital that raise substantial doubt about its ability to
continue as a going concern.


EDGEWOOD PARTNERS: Moody's Assigns B3 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service has assigned a B3 corporate family rating
and Caa1-PD probability of default rating to Edgewood Partners
Insurance Center (EPIC). The rating agency also assigned a B3
rating to the first-lien credit facilities being issued by EPIC to
refinance an existing bank credit facility and to fund an
acquisition of a California specialty insurance agency. The rating
outlook for EPIC is stable.

RATINGS RATIONALE

According to Moody's, EPIC's ratings reflect its growing presence
in middle market insurance brokerage, good diversification across
clients, products, producers and carriers, and adequate EBITDA
margins. Historical EBITDA margins are lower than for many rated
peers, but we expect improvement over the next 12-18 months as the
company realizes growth from recent acquisitions and organic
investments.

These strengths are tempered by EPIC's modest size relative to
other rated insurance brokers, its geographic concentration with
the majority of its business in California, and elevated financial
leverage, which is consistent with its rating category. EPIC also
faces potential integration risk from acquisitions as well as
contingent risks (e.g., exposure to errors and omissions) in the
delivery of professional services.

The rating agency said that EPIC has grown fairly rapidly through
small and mid-sized acquisitions, and the company integrates its
acquisitions over time, using centralized accounting and agency
management systems, and transitions acquired companies to the EPIC
brand. To align interests, EPIC managers and employees, including
those of acquired entities, own over one third of the company.

On a pro forma basis, giving effect to recent acquisitions, the
business is split roughly evenly among three segments: commercial
property and casualty, specialty and programs, and employee
benefits products and services. The company has expertise in
developing specialty programs where the broker receives fee revenue
for offering distinct value to both insurance buyers and insurance
carriers. EPIC has generated healthy organic growth from its
specialty business. EPIC's most recent acquisition, Ascende, will
help the company build out its employee benefits platform.

Moody's estimates that EPIC's debt-to-EBITDA ratio will be around
6.5x following the refinancing and pending acquisition, including
contingent earn-out obligations as debt, along with other standard
accounting adjustments. The rating agency also expects the company
to generate (EBITDA - capex) interest coverage in the range of
2x-4x over the next 12-18 months.

Factors that could lead to a rating upgrade include: (i)
debt-to-EBITDA ratio below 5.5x, (ii) (EBITDA - capex) coverage of
interest consistently exceeding 2x, (iii) free-cash-flow-to-debt
ratio consistently exceeding 5% and (iv) successful integration of
recent acquisitions. Factors that could lead to a rating downgrade
include: (i) debt-to-EBITDA ratio above 7x, (ii) (EBITDA - capex)
coverage of interest below 1.2x, or (iii) free-cash-flow-to-debt
ratio below 2%.

Moody's has assigned the following ratings (with loss given default
(LGD) assessments for EPIC):

Corporate family rating B3;

Probability of default rating Caa1-PD;

$50 million senior secured five-year revolving credit facility B3
(LGD3);

$200 million senior secured seven-year first-lien term loan B3
(LGD3).

Headquartered in San Francisco, California, EPIC ranked as the
23rd-largest US insurance broker based on 2014 revenues, according
to Business Insurance. The company generated total revenue of $167
million for the 12 months through September 2015.


EDGEWOOD PARTNERS: S&P Assigns 'B' LT Corp. Credit Rating
---------------------------------------------------------
Insurance broker Edgewood Partners Insurance Center Inc. (EPIC) is
planning to issue $250 million in credit facilities.

Standard & Poor's Ratings Services said it has assigned its 'B'
long-term corporate credit rating to New York-based insurance
services broker Edgewood Partners Insurance Center Inc. (EPIC). The
outlook is stable.

S&P said, "At the same time, we assigned our 'B' debt rating with a
recovery rating of '3', which indicates our expectations for a
meaningful recovery (50%-70%, bottom half of the range) in the
event of a payment default, to EPIC subsidiary Edgewood Partners
Holdings LLC's proposed $250 million first-lien credit facilities,
which consist of a $200 million term loan due 2023 and $50 million
revolver due 2021 (unfunded at transaction close)."

"The counterparty credit rating reflects EPIC's weak business risk
profile and highly leveraged financial risk profile, as defined by
our corporate criteria," said Standard & Poor's credit analyst
Stephen Guijarro. EPIC is using its transaction to repay existing
debt on the balance sheet and to accelerate growth of the firm with
additional financing capacity. "We assess EPIC's business risk
profile on the high end of weak, reflecting its developing profile,
constrained scope and scale, and modest revenue base, $174 million
as of year-end 2015. EPIC operates in a highly competitive,
fragmented, and cyclical middle-market industry, and, given its
small but developing revenue base, it is more susceptible to
macroeconomic conditions and competitive industry pressures than
larger peers." While EPIC offers technical and industry expertise
with strong client focus to differentiate itself from peers and
exhibits strong business retention rates, there are a high number
of companies vying for the same business, making pricing premiums
minimal.

S&P's assessment of EPIC's financial risk profile as highly levered
reflects its private equity majority ownership by the Carlyle Group
and the significant amount of debt in its capital structure.
Following the debt issuance to help accelerate growth, Standard &
Poor's adjusted debt-to-EBITDA ratio (including
operating leases and contingent earn-outs) is about 6.5x as of
year-end 2015 pro forma for the new debt issuance and including
annualized acquisition earnings made in the past year (excluding
those under letter of intent); S&P believes this is likely to be
the upper threshold management is willing to tolerate. The company
has committed to growing its business organically and will utilize
acquisitions for focused needs. But it's S&P's view that, while
management is committed to keeping leverage down, it will favor
using free cash flow to expand operations over substantial debt
paydown due to 50% excess cash flow prepayment clauses in its
transaction documents.

"The stable outlook reflects our expectations that EPIC will
generate enough cash to support its growth strategy and maintain
pro forma EBITDA leverage of about 6x by year-end 2016, while
continuing to modestly lower leverage after the transaction," Mr.
Guijarro continued. "We expect mid- to high-single-digit organic
growth and for top-line growth to continue to be supported by
acquisitions. Our outlook also reflects our expectation that EPIC
will benefit from recent business investments to improve
operational efficiencies and scale to improve its overall margins
to 17%-20%."

S&P would consider lowering the ratings in the next 12 months if
organic growth, operating margins, or cash flow generation were to
meaningfully deteriorate, which could put pressure on EPIC's
strategy and increase the risk of an unfavorable combination of
higher-than-expected financial leverage and weaker-than-expected
EBITDA coverage, such as sustained leverage over 7x and EBITDA
coverage below 2.5x.

"Although an upgrade is unlikely in the next 12 months, we could
raise the rating if EPIC's cash flow generation were to improve
with financial leverage and EBITDA coverage reflecting a
more-conservative level (financial leverage of less than 5x and
EBITDA coverage of 4x-5x) that we would expect it to sustain," Mr.
Guijarro added.


EFT HOLDINGS: Delays Filing of Dec. 31 Form 10-Q
------------------------------------------------
EFT Holdings, Inc. filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Dec. 31, 2015.  The Company said the compilation, dissemination and
review of the information required to be presented in the Quarterly
Report on Form 10-Q for the relevant period has imposed time
constraints that have rendered timely filing of the Form 10-Q
impracticable without undue hardship and expense to the registrant.
The Company undertakes the responsibility to file such report no
later than the fifth day after its original prescribed due date.

                         About EFT Holding

California-based EFT Holdings, Inc., is primarily an e-Business
company designed around the "Business-to-Customer" concept, which
means that the Company's products are sold directly to customers
through its web site.  The Company's "Business-to-Customer" model
differs from the traditional "Business to Business" model where
products are sold to distributors who then sell the products to
ultimate customers.

EFT Holdings reported a net loss of $5.30 million on $968,000 of
net total revenues for the year ended March 31, 2015, compared to a
net loss of $20.3 million on $1.80 million of net total revenues
for the year ended March 31, 2014.

As of Sept. 30, 2015, the Company had $4.32 million in total
assets, $9.63 million in total liabilities and a $5.30 million
total deficiency.


ELEPHANT TALK: Agrees to Sell ValidSoft for $12.5 Million
---------------------------------------------------------
Elephant Talk Communications Corp. ("ETAK") and Cross River
Initiatives LLC entered into a binding letter agreement for the
sale of ETAK's wholly owned subsidiaries ValidSoft Ltd and
ValidSoft UK Limited on a debt free and liability free basis for an
aggregate purchase price of $12.5 million, according to a Form 8-K
report filed with the Securities and Exchange Commission.  

Pursuant to the terms of the Agreement, CRI has agreed to wire $8
million to ETAK no later than March 21, 2016, and will issue a $4
million short-term, secured note in favor of ETAK for the balance
of the Purchase Price.  On Jan. 19, 2016, ETAK issued a $500,000
promissory note to CRI in consideration for a $500,000 loan and
advance payment against CRI's proposed purchase of ValidSoft.  In
addition, CRI will use all possible efforts to complete a second
advance payment to ETAK of $1.5 million on or before Feb. 29, 2016,
which if paid, together with the $500,000 Advance will reduce the
Cash Consideration to $6 million.  Effective as of the date of the
Agreement, the $500,000 Advance will be non-refundable in the event
that the Transaction fails to close on or before March 21, 2016,
the $500,000 Advance will automatically convert into a 9% unsecured
convertible promissory note on terms similar to the notes issued in
ETAK's private placement offering previously disclosed in ETAK's
Form 8-K filed with the Securities Exchange Commission on Dec. 22,
2015.  Similarly, if the $1.5 Million Advance is funded but the
Transaction does not close on or before March 21, 2016, the $1.5
Million Advance will automatically convert into a 9% Convertible
Note.

In addition, CRI has agreed to assume all actual working capital
and general business expenses of ValidSoft in an agreed upon weekly
amount of $67,750 effective Feb. 1, 2016.  The Working Capital
Payments will be non-refundable in the event that the Transaction
does not close on or before March 21, 2016, in which case the
Working Capital Payments will automatically convert into a 9%
Convertible Note.  In addition, CRI has agreed to wire a cash
payment as soon as practicable from the date of the Agreement in an
amount equal to $137,500 for the period from Feb. 1, 2016, to Feb.
15, 2016.  ETAK has agreed that for a period of time commencing
upon the date it receives the Initial Working Capital Payment,
continuing for such period of time CRI complies with its ongoing
Working Capital Payment obligations and terminating on March 21,
2016, CRI has the exclusive right to the purchase of ValidSoft.
Additionally, ETAK, ValidSoft and CRI have agreed that they will
negotiate a license to ValidSoft's Device Trust and User
Authentication solutions, including, in particular, a right to
incorporate such technologies into ETAK's mobile
telecommunications-cloud platform - including the right to resell
such technologies through its platform.

                       About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk reported a net loss of $21.9 million in 2014, a net
loss of $25.5 million in 2013 and a net loss of $23.1 million in
2012.

As of Sept. 30, 2015, the Company had $30.7 million in total
assets, $14.3 million in total liabilities and $16.4 million in
total stockholders' equity.


ELEPHANT TALK: Two Directors Resign
-----------------------------------
Each of Mr. Carl Stevens and Mr. Francisco Ros resigned from the
Board of Directors of Elephant Talk Communications Corp. for
personal reasons on Feb. 18, 2016, according to a document filed
with the Securities and Exchange Commission.  Neither Mr. Stevens
nor Mr. Ros resigned as a result of any disagreement with the
Company on any matter relating to the Company's operations,
policies or practices, the filing stated.

                       About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk reported a net loss of $21.9 million in 2014, a net
loss of $25.5 million in 2013 and a net loss of $23.1 million in
2012.

As of Sept. 30, 2015, the Company had $30.7 million in total
assets, $14.3 million in total liabilities and $16.4 million in
total stockholders' equity.


ELUMWOOD ASSOCIATES: Involuntary Chapter 11 Case Summary
--------------------------------------------------------
Alleged Debtor: Elumwood Associates
                c/o Elumwood Apartments, LLC
                16040 38th Ave NE
                Seattle, WA 98115

Case Number: 16-10800

Type of Business: Single Asset Real Estate

Involuntary Chapter 11 Petition Date: February 18, 2016

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Petitioners' Counsel: Charles A. Lyman, Esq.
                      SCHLEMLEIN GOETZ FICK & SCRUGGS, PLLC
                      66 S. Hanford Street, Suite 300
                      Seattle, WA 98134
                      Tel: 206-448-8100
                      Fax: 206-448-8514
                      Email: cal@soslaw.com

   Petitioners                  Nature of Claim  Claim Amount
   -----------                  ---------------  ------------
Elumwood Apartments LLC         Unsecured Monies      $27,906
16040 38th Ave NE
Seattle, WA 98115

David A Bolin, Jr                                     Unknown
16040 38th Ave NE
Seattle, WA 98115



EMPIRE RESORTS: Closes $290 Million Rights Offering
---------------------------------------------------
Empire Resorts, Inc. announced that its rights offering and standby
purchase of shares not sold in the Rights Offering, which generated
approximately $290 million in gross proceeds for the Company closed
on Wednesday, Feb. 17, 2016.  The Company issued a total of
20,138,888 shares of common stock at $14.40 per share. This
includes 176,086 shares issued to holders upon exercise of their
basic subscription rights and 13,136,817 shares issued to Kien Huat
Realty III Limited, the Company's largest stockholder, upon
exercise of its basic subscription rights.  Kien Huat also acquired
the remaining 6,825,985 shares not sold in the Rights Offering
pursuant to the terms of a standby purchase agreement. The Company
paid Kien Huat a fee of $1,450,000 for its commitment pursuant to
the standby purchase agreement and reimbursed Kien Huat for its
expenses related to the standby purchase agreement in an amount of
$50,000.

The Company anticipates using the net proceeds of the Rights
Offering towards the development of Montreign Resort Casino, to
redeem the Series E Preferred Stock of the Company, towards the
development of the Golf Course and Entertainment Village that,
along with the Casino Project, are part of the initial phase of the
Adelaar project, and towards the working capital needs of the
Company.

Upon consummation of the Rights Offering, a $17.4 million
convertible note held by Kien Huat was converted into 1,332,058
shares of common stock of the Company in accordance with the
conversion provisions of that note.  After giving effect to the
Rights Offering and Note Conversion, Kien Huat owns approximately
88.7% of the outstanding shares of the Company's common stock.

As a result of Kien Huat's increased proportionate ownership
following the consummation of the Rights Offering and the Note
Conversion, at the request of the Company, Kien Huat and the
Company entered a letter agreement, pursuant to which Kien Huat has
agreed neither it nor its affiliates will take certain actions in
furtherance of a "going-private" transaction involving the Company
unless such transaction is subject to the approval of (x) a
majority of the voting stock of the Company held by stockholders
other than the Kien Huat Parties and (x) either (A) a majority of
disinterested members of the Board of Directors of the Company or
(y) a committee of the Board composed of disinterested members of
the Board.  In addition, the Company and Kien Huat have agreed to
cooperate to ensure that, to the greatest extent possible, the
Board includes no fewer than three independent directors.  The
terms of this letter agreement will be valid beginning immediately
and terminating on the earlier of (i) the three year anniversary of
the closing of the Rights Offering and (ii) the one year
anniversary of the opening of the Casino Project.

                     About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common shares of
$24.1 million on $65.2 million of net revenues for the year ended
Dec. 31, 2014, compared to a net loss applicable to common shares
of $27.05 million on $70.96 million of net revenues in 2013.

As of Sept. 30, 2015, the Company had $73.4 million in total
assets, $63.4 million in total liabilities and $10 million in total
stockholders' equity.


EMPIRE RESORTS: Kien Huat Reports 88.7% Stake as of Feb. 17
-----------------------------------------------------------
Kien Huat Realty III Limited and Kien Huat Realty III Limited
reported in an amended Schedule 13D filed with the Securities and
Exchange Commission that as of Feb. 17, 2016, they beneficially own
27,533,067 shares of Common Stock, $.01 Par Value Per Share, of
Empire Resorts, Inc., representing 88.7 percent of the shares
outstanding.

As previously reported, Kien Huat received 13,136,817 subscription
rights pursuant to the 2016 Rights Offering.  On Jan. 14, 2016, in
accordance with the 2016 Standby Purchase Agreement, Kien Huat
exercised its subscription rights with respect to 2,083,333 shares
of Common Stock, paying the Issuer a total purchase price of
$29,999,995 in connection with such exercise.

On Feb. 9, 2016, in accordance with its obligations under the 2016
Standby Purchase Agreement, Kien Huat exercised the remainder of
its basic subscription rights with respect to 11,053,484 shares of
Common Stock, paying the Issuer a total purchase price of
$159,170,169 in connection with such exercise.

On Feb. 17, 2016, in accordance with its obligations under the 2016
Standby Purchase Agreement, Kien Huat exercised all rights not
otherwise exercised by the other holders in the 2016 Rights
Offering with respect to 6,825,985 shares of Common Stock, paying
the Issuer a total purchase price of $98,294,184 in connection with
such exercise.  In accordance with its obligations under the 2016
Standby Purchase Agreement, the Issuer paid Kien Huat a fee of
$1,450,000 in connection with such exercise, and reimbursed Kien
Huat for $50,000 of out-of-pocket fees and expenses incurred in
connection with the transaction.

Simultaneous with the completion of the Standby Purchase, the $17.4
million convertible note held by Kien Huat evidencing the remaining
amount due from the Issuer under the Loan Agreement was converted
into 1,332,058 shares of Common Stock which conversion, along with
the payment by the Issuer in cash of interest due, satisfied the
note in full.

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

                      http://is.gd/hXsdYu

                      About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common shares of
$24.1 million on $65.2 million of net revenues for the year ended
Dec. 31, 2014, compared to a net loss applicable to common shares
of $27.05 million on $70.96 million of net revenues in 2013.

As of Sept. 30, 2015, the Company had $73.4 million in total
assets, $63.4 million in total liabilities and $10 million in total
stockholders' equity.


ENCANA CORP: Moody's Lowers Senior Unsecured Notes Rating to Ba2
----------------------------------------------------------------
Moody's Investors Service downgraded Encana Corporation's senior
unsecured notes rating to Ba2 from Baa2 and its commercial paper
program to Not Prime from Prime-2. Moody's assigned Encana a Ba2
Corporate Family Rating (CFR), a Ba2-PD Probability of Default
Rating and a Speculative Grade Liquidity Rating of SGL-2. The
rating outlook is stable. This action resolves the review for
possible downgrade that was initiated on December 16, 2015.

"The downgrade reflects the material decline in Encana's cash flow
that we expect in 2016 and 2017 and resultant weak cash flow-based
leverage metrics," said Terry Marshall, Moody's Senior Vice
President.

Downgrades:

Issuer: Alberta Energy Company Limited

-- Senior Unsecured Regular Bond/Debenture, Downgraded to
    Ba2(LGD4) from Baa2

Issuer: Encana Corporation

-- Senior Unsecured Commercial Paper, Downgraded to NP from P-2

-- Senior Unsecured Medium-Term Note Program, Downgraded to
    (P)Ba2 from (P)Baa2

-- Senior Unsecured Regular Bond/Debenture, Downgraded to
    Ba2(LGD4) from Baa2

Assignments:

Issuer: Encana Corporation

-- Probability of Default Rating, Assigned Ba2-PD

-- Speculative Grade Liquidity Rating, Assigned SGL-2

-- Corporate Family Rating, Assigned Ba2

Outlook Actions:

Issuer: Encana Corporation

-- Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

Encana's Ba2 CFR reflects expected high leverage in 2016
(debt/EBITDA around 5.4x and retained cash flow/debt of about 10%)
and weak interest coverage (EBITDA to interest about 3x), improving
modestly in 2017. Moody's also expects production and reserves to
decline in 2016 and 2017 given reduced capital expenditures in the
company's four core plays and dispositions. The rating is supported
by the company's good liquidity and sizeable production and
reserves base.

The SGL-2 Speculative Grade Liquidity Rating reflects Encana's good
liquidity through 2016. Pro forma for the sale of the DJ Basin
assets and short term debt reduction Encana will have about $300
million in cash and a fully available $4.5 billion unsecured
revolving credit facility that matures in 2020. Moody's expects
Encana to fund 2016 negative free cash flow of about $350 million
through asset sales. Encana has no debt maturities until 2019 and
should be well in compliance with its sole financial covenant.
Encana has several assets in addition to the DJ Basin asset that it
could sell to enhance liquidity.

In accordance with Moody's Loss Given Default (LGD) Methodology,
the senior unsecured notes are rated Ba2, at the CFR, as all the
debt in the capital structure is unsecured. If the revolving credit
facility becomes secured, the notes would likely be notched lower
than the CFR.

The stable outlook reflects Moody's view that Encana's leverage and
interest coverage will modestly improve from current levels.

The rating could be upgraded to Ba1 if RCF/debt appears likely to
exceed 20%.

The rating could be downgraded to Ba3 if RCF/debt appears likely to
trend towards 10%.

Encana Corporation is a Calgary, Alberta-based independent
exploration and production company that has average daily
production of approximately 400,000 boe/d net of royalties (barrel
of oil equivalent).


ENERGY XXI: Fitch Cuts Long-Term Issuer Default Rating to 'C'
-------------------------------------------------------------
Fitch Ratings has downgraded Energy XXI LTD's (NYSE: EXXI) and
Energy XXI Gulf Coast, Inc.'s (EGC) long-term Issuer Default Rating
(IDR) to 'C' following the non-payment of interest due Feb. 16 on
EPL Oil & Gas' (EPL) unsecured notes due 2018. EPL is a
wholly-owned subsidiary of EGC. Fitch believes that EXXI's capital
structure is unsustainable at our current oil & natural gas price
deck, and that the potential for debt exchanges or restructuring
will be elevated over the next six months.

KEY RATING DRIVERS

ENTRY INTO GRACE PERIOD

The downgrade to 'C' is driven by EXXI's election to enter a 30-day
grace period on the EPL notes through non-payment of $8.8 million
in interest due Feb. 16. While EXXI has the financial capacity to
make the payment, the election to defer payment indicates that
negotiations with creditors could lead to either a distressed debt
exchange or bankruptcy. In addition to the $8.8 million in
interest, EXXI has $80 million in interest due on March 17 related
to the company's $1.45 billion in second-lien notes.

DEBT REPURCHASES NOT SUFFICENTLY DELEVERAGING

Since June 30, 2015, EXXI has repurchased debt in the open market,
using $232.3 million in cash to repurchase $1.71 billion in
aggregate principal. Pro forma for debt repurchases subsequent to
Dec. 31, 2015, EXXI's consolidated cash is estimated at $306
million ($348 million as of Dec. 31 less $19 million in subsequent
bond repurchases). Pro forma annual interest expense is estimated
at $248 million, leading to limited near term financial flexibility
absent a rapid rebound in oil prices or additional debt reduction.
Through debt repurchases, the company has lowered total debt to
$2.8 billion at Feb. 15, 2016 from $4.6 billion at June 30, 2015.
Despite these actions, Fitch believes that the current debt load
remains unsustainable at our current price deck.

RESERVES LOWER ON PRICE, DEVELOPMENT DEFERRAL

At Dec. 31, 2015, EXXI's total proved reserves were 107.9 MMBOE,
down from 183.5 MMBOE as of June 30, 2015. Due to expectations for
lower capital spending, EXXI has reclassified essentially all
proved undeveloped reserves out of the proved category, as they are
not currently expected to be drilled within the next five years.
Fitch expects the company to focus on lower cost recompletions and
low-risk development activity, but anticipates that 2016 production
will decline at current spending levels. Production in the quarter
ending Dec. 31 was 54.5 thousand barrels of oil equivalent
(mboe)/d, down 7.4% from 58.9 mboe/d for the quarter ending Sept.
30, 2015.

UPDATED RECOVERY ANALYSIS

EXXI Gulf Coast recoveries are estimated as outstanding ('RR1' -
100%) at the first-lien secured level, superior ('RR2' - 75%) at
the second-lien secured level, and poor ('RR6' - 0%) at the
unsecured level. The current 0% estimated senior unsecured recovery
contrasts to a 13% estimated recovery for unsecured creditors cited
in the last review. EXXI LTD's convertible notes and preferred
stock are structurally subordinated to the assets at EXXI Gulf
Coast, and receive no recovery value in our analysis ('RR6' - 0%).

Lower recovery estimates are driven by reduced value estimates for
oil and gas reserves, with our lower oil and gas price deck having
the largest impact. Recovery values are based on estimated
liquidation values of proved (1P) reserves. EXXI disclosed updated
1P reserve totals as of Dec. 31, 2015, which were used in the
recovery analysis, in their quarterly filing released on Feb. 16.
Fitch begins with a standard value of $12.50/boe for an average
producer based on our long-term price deck ($65/bbl oil, $3.25/mcf
natural gas). Fitch makes adjustments for location and quality, oil
& gas mix, as well as adjustments related to changes in our oil and
gas price deck (last updated Jan. 19, 2016).

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for Energy XXI
include:

-- Base Case WTI oil prices of $45/bbl in 2016, $55/bbl in 2017,
    and $60 in 2018;

-- Base Case Henry Hub natural gas prices of $2.50/mcf in 2016,
    $2.75/mcf in 2017, and $3.00/mcf in 2018;

-- Capex of $150 million in 2016;

-- High single digit production declines;

-- Stress Case WTI oil prices of $35/bbl in 2016, $40/bbl in
    2017, and $42 in 2018;

-- Stress Case Henry Hub natural gas prices of $2.25/mcf in 2016,

    $2.50/mcf in 2017, and $2.75/mcf in 2018;

RATING SENSITIVITIES

Negative: Future developments that may, individually or
collectively, lead to negative rating action include:

-- Failure to pay debt service within grace periods and or
    bankruptcy filing would result in a downgrade of the IDR to
    'D'.
-- A distressed debt exchange would result in a downgrade of the
    IDR to 'RD'.

Positive: Future developments that may, individually or
collectively, lead to positive rating action include:

-- Payment of interest in accordance with debt agreements.
-- Better visibility on a sustainable deleveraging plan.
-- An increase in oil and natural gas prices leading to positive
    free cash flow (FCF) generation.

No upgrades are currently contemplated given weakening credit
metrics, lower liquidity following open market debt repurchases,
and significant headwinds from lower oil and natural gas prices.

LIQUIDITY

Overall liquidity and financial flexibility are limited and are
currently limited to cash on hand. As a result of the non-payment
of interest due Feb. 16, EGC is restricted from drawing on the
first-lien credit facility, lowering overall liquidity by
approximately $122 million while the grace period restrictions are
in effect.

Pro forma for debt repurchases subsequent to Dec. 31, 2015, EXXI's
consolidated cash is estimated at $306 million relative to
approximately $248 million in annual interest expense. While debt
repurchases have lowered overall debt balances, they have also
lowered overall liquidity needed to service remaining debt,
increasing the need to address the capital structure with
stakeholders. At our current base case, Fitch expects EXXI to be
FCF negative in 2016, increasing the call on available liquidity.

Pro forma for recent repurchases, scheduled debt maturities over
the next five years are estimated at $423 million in 2017, $614
million in 2018, $101 million in 2019, and $1.45 billion in 2020.

FULL LIST OF RATING ACTIONS

Fitch has downgraded the following ratings:

Energy XXI Gulf Coast Inc.
-- Long-term Issuer Default Rating (IDR) to 'C' from 'CCC';
-- Senior secured first lien revolver to 'CCC/RR1' from 'B/RR1';
-- Senior secured second lien notes to 'CCC-/RR2' from 'B/RR1';
-- Senior unsecured notes to 'C/RR6' from 'CCC-/RR5'.

Energy XXI LTD
-- Long-term IDR to 'C' from 'CCC';
-- Convertible notes to 'C/RR6' from 'CC/RR6';
-- Convertible perpetual preferred to 'C/RR6' from 'CC/RR6'.


ESCALERA RESOURCES: Files Disclosure Statement
----------------------------------------------
Escalera Resources Co. on Feb. 18 disclosed that on January 29,
2016, it filed its plan of reorganization with the U.S. Bankruptcy
Court for the District of Colorado and subsequently filed an
accompanying disclosure statement on February 8, 2016.  The
Company's Chapter 11 case is being administered as In re Escalera
Resources Co., Case No. 15-22395-TBM.

The Plan provides for the restructuring of the Company's
operations, debts and capital structure and, among other things,
contemplates the cancellation of all of the Company's common stock
and Series A Preferred Stock, with neither class of stock receiving
any consideration or distribution in connection with the Company's
reorganization.  The Plan is subject to the vote of the Company's
creditors and the review and approval of the Bankruptcy Court.

                     About Escalera Resources

Escalera Resources Co. filed for Chapter 11 bankruptcy protection
(Bankr. D. Colo. Case No. 22395) on Nov. 5, 2015.  Adam Fenster,
the chief financial officer, signed the petition.  The Debtor
listed total assets of $97.71 million and total liabilities of
$67.70 million, both as of June 30, 2015.  The Debtor has engaged
Onsager, Guyerson, Fletcher, Johnson LLC as counsel.  Judge Thomas
B. McNamara is assigned to the case.

Headquartered in Denver, Colorado, Escalera is an independent
energy company engaged in the exploration, development, production
and sale of natural gas and crude oil, primarily in the Rocky
Mountain basins of the western United States.  The Debtor was
incorporated in Wyoming in 1972 and reincorporated in Maryland in
2001.  It is a publicly-traded company with two classes of equity
interests: Series A Preferred with an estimated 1,610,000 shares
outstanding and common stock of an estimated 14,300,000 shares
outstanding. Both stock issues are widely held.

As of October 2015, the Debtor had 22 employees.  None of the
employees are subject to a collective bargaining agreement.  The
Debtor leases an executive office in Houston, Texas, and a regional
office in Casper, Wyoming.


ESCO MARINE: Court Approves Hooper to Prepare Tax Filings
---------------------------------------------------------
ESCO Marine Inc. sought and obtained permission from the Hon. David
R. Jones of the U.S. Bankruptcy Court for the Southern District of
Texas to employ Hooper Consulting Group, Inc. as ordinary course
professionals, nunc pro tunc to April 1, 2015.

ESCO Marine requires Hooper Consulting to assist with its tax
filings that are due on April 15, 2015 (subject to extension).

Hooper Consulting will be paid $4,500 for these services:

     -- Annual Preparation, Appraisal (scope of the appraisal –
        ad valorem taxes),

     -- Rendering, Review of Notices from Cameron CAD, and

     -- Filing of Protest (if required).

Any required meetings with or hearings before the taxing authority
will be billed at $150 per hour or $1,200 per day plus normal
travel expenses.

The Debtor will seek authorization from the Court pursuant to
sections 330 and 331 of the Bankruptcy Code to pay any invoice
submitted by Hooper Consulting that exceeds $20,000.00 or if the
cumulative amount of invoices received exceeds $20,000.0 annually.

Marclon M. Hooper, president of Hooper Consulting, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Hooper Consulting can be reached at:

       Marclon M. Hooper
       HOOPER CONSULTING GROUP, INC.
       3332 Bali Drive
       Corpus Christi, TX 78418
       Tel: (361) 937-3395

                       About ESCO Marine

ESCO Marine, Inc., and four affiliates sought Chapter 11 Bankruptcy
protection in Corpus Christi, Texas (Bankr. S.D. Tex.) on March 7,
2015.

The cases are assigned to Judge Richard S. Schmidt.  The Court
approved the joint administration of the Debtors' Chapter 11 cases
under ESCO Marine, Inc., Case No. 15-20107.

ESCO Metals, LLC, ESCO Shredding, LLC, Texas Best Recycling, LLC,
and Texas Best Equipment LLC are affiliates of ESCO Marine.  ESCO
Marine is the operating parent company.

The Debtors have tapped Roderick Glen Ayers, Jr., Esq., at Langley
Banack Inc., in San Antonio, as counsel.  The Debtors tapped AP
Services LLC to designate a chief restructuring officer, and Duff &
Phelps Canada Restructuring, Inc. as financial advisors.  

The Debtor disclosed total assets of $85,908,515 and total
liabilities of $93,808,107.

Secured creditor Callidus Capital Corporation is represented by
Nathaniel Peter Holzer, Esq., at Jordan, Hyden, Culbreth & Holzer,
P.C.

On July 30, 2015, the U.S. Bankruptcy Court for the Southern
District of Texas approved a credit bid by Callidus Capital Corp.
that allowed the Canadian company to acquire substantially all of
the Debtors' assets, which include machinery and equipment, real
property leasehold interests and inventory.


ESCO MARINE: May Hire Burton McCumber to Prepare Tax Filings
------------------------------------------------------------
ESCO Marine Inc. sought and obtained permission from the Hon. David
R. Jones of the U.S. Bankruptcy Court for the Southern District of
Texas to employ Burton McCumber & Cortez, LLP as ordinary course
professionals.

The Debtor requires Burton McCumber to assist with its federal
income tax filings for tax years 2013 and 2014.

Burton McCumber also will prepare and file the Debtor's 2012
Amended Form 1120, the 2013 Form 1120, and the associated Texas
Franchise return. The estimated fee for these services is $13,500.
Burton McCumber will also be engaged to complete and file the
Debtor's 2014 Form 1120 and the associated Texas Franchise Tax
return. The estimated fee for this service is $12,000.

Burton McCumber will be paid at these hourly rates:

       Staff                $65-$105
       Managers             $115-$165
       Partners             $223-$310

Burton McCumber will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Gregg S. McCumber, managing partner of Burton McCumber, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Burton McCumber can be reached at:

       Gregg S. McCumber
       BURTON MCCUMBER & CORTEZ, LLP
       1950 Paredes Line Road
       Brownsville, TX 78521-1692
       Tel: (956) 542-2553
       Fax: (956) 542-8940

                       About ESCO Marine

ESCO Marine, Inc., and four affiliates sought Chapter 11 Bankruptcy
protection in Corpus Christi, Texas (Bankr. S.D. Tex.) on March 7,
2015.

The cases are assigned to Judge Richard S. Schmidt.  The Court
approved the joint administration of the Debtors' Chapter 11 cases
under ESCO Marine, Inc., Case No. 15-20107.

ESCO Metals, LLC, ESCO Shredding, LLC, Texas Best Recycling, LLC,
and Texas Best Equipment LLC are affiliates of ESCO Marine.  ESCO
Marine is the operating parent company.

The Debtors have tapped Roderick Glen Ayers, Jr., Esq., at Langley
Banack Inc., in San Antonio, as counsel.  The Debtors tapped AP
Services LLC to designate a chief restructuring officer, and Duff &
Phelps Canada Restructuring, Inc. as financial advisors.  

The Debtor disclosed total assets of $85,908,515 and total
liabilities of $93,808,107.

Secured creditor Callidus Capital Corporation is represented by
Nathaniel Peter Holzer, Esq., at Jordan, Hyden, Culbreth & Holzer,
P.C.

On July 30, 2015, the U.S. Bankruptcy Court for the Southern
District of Texas approved a credit bid by Callidus Capital Corp.
that allowed the Canadian company to acquire substantially all of
the Debtors' assets, which include machinery and equipment, real
property leasehold interests and inventory.


EXELIXIS INC: Announces Executive Promotions and Compensation
-------------------------------------------------------------
Exelixis, Inc., disclosed in a Form 8-K filed with the Securities
and Exchange Commission that Gisela Schwab, M.D. was promoted to
the position of president, product development and medical affairs
and chief medical officer from her previous position of executive
vice president and chief medical officer, a position she held since
January 2008.  Dr. Schwab joined Exelixis, Inc. in 2006 as senior
vice president and chief medical officer.  From 2002 to 2006, she
held the position of senior vice president and chief medical
officer at Abgenix, Inc., a human antibody-based drug development
company.  Dr. Schwab also served as vice president, clinical
development, at Abgenix from 1999 to 2001.  Prior to working at
Abgenix, from 1992 to 1999, she held positions of increasing
responsibility at Amgen Inc., most recently as Director of Clinical
Research and Hematology/Oncology Therapeutic Area Team Leader.  Dr.
Schwab received her Doctor of Medicine degree from the University
of Heidelberg, trained at the University of Erlangen-Nuremberg and
the National Cancer Institute and is board certified in internal
medicine and hematology and oncology.

To better align his title with the focus of the Company's business,
Peter Lamb, Ph.D., the Company's executive vice president and chief
scientific officer now provides services to the Company under the
title of executive vice president, scientific strategy and chief
scientific officer.  Dr. Lamb had served as executive vice
president and chief scientific officer since September 2009.
Previously, he served as senior vice president, Discovery Research
and chief scientific officer from January 2007 until September
2009, as vice president, Discovery Pharmacology from December 2003
until January 2007 and as Senior Director, Molecular Pharmacology
and Structural Biology from October 2000 until December 2003.
Prior to joining Exelixis, from June 1992 until September 2000, Dr.
Lamb held positions of increasing responsibility at Ligand
Pharmaceuticals, a pharmaceutical company, most recently serving as
Director of Transcription Research.  During this time, he led teams
that implemented novel drug discovery approaches that led to the
identification of the first small molecule activators of cytokine
receptors.  Dr. Lamb has held post-doctoral research fellowships at
the Carnegie Institution, Department of Embryology, with Dr. S.L.
McKnight and the University of Oxford with Dr. N.J. Proudfoot,
working in the field of gene regulation.  He has authored numerous
articles in the fields of gene expression, signal transduction and
oncology, and is an author on multiple issued and pending U.S.
patents.  He has a Ph.D. in Molecular Biology from the
ICRF/University of London and a B.A. in Biochemistry from the
University of Cambridge.

                 Named Executive Officer Compensation

On Feb. 11, 2016, the Compensation Committee of the Board of
Directors of the Company approved the 2016 base salaries and 2016
target cash bonus program and amounts, expressed as a percentage of
2016 base salaries, for the Company's principal executive officer,
principal financial officer and other named executive officers as
defined under applicable securities laws.  Cash bonuses under the
2016 bonus program are discretionary, but the Compensation
Committee sets bonus targets based on the seniority of the
applicable position and takes into account the achievement of
company-wide and applicable department performance objectives. The
Company's goals for 2016 were approved by the Board and include
both research and development and business goals.  The Compensation
Committee exercises broad discretion in determining the amount of
cash bonuses and does not attempt to quantify the level of
achievement of corporate goals or the extent to which each
Executive Officer's department contributed to the Company's overall
success.  Whether or not a bonus is paid for 2016 is within the
discretion of the Compensation Committee.  The actual bonus awarded
for 2016, if any, may be more or less than the target, depending on
individual performance and the achievement of the Company's overall
objectives.  The 2016 base salaries and 2016 target cash bonus
amounts for each of the Company's Executive Officers are:

                                                  2016 Annual
  Named Executive Officer                         Base Salary
  -----------------------                         -----------
Michael M. Morrissey, Ph.D.                         $850,000
President and Chief Executive Officer
(principal executive officer)

Christopher J. Senner                               $540,000
Executive Vice President and
Chief Financial Officer
(principal financial officer)

Jeffrey J. Hessekiel                                $489,038
Executive Vice President, General Counsel
and Secretary

Peter Lamb, Ph.D.                                   $460,000
Executive Vice President,
Scientific Strategy
and Chief Scientific Officer

Gisela Schwab, M.D.                                 $600,000
President, Product Development and
Medical Affairs and Chief Medical Officer
Deborah Burke                                       $340,705
Senior Vice President, Finance and Controller

                        2015 Bonus Payments

On Feb. 11, 2016, the Compensation Committee approved bonus
payments for the Executive Officers in recognition of their 2015
performance.  In support of the Company's cash conservation efforts
and to align the interests of the executive officers with those of
the Company's stockholders, the Compensation Committee, in lieu of
cash bonus payments, granted restricted stock units to the
Executive Officers.  In determining the number of RSUs for each
executive officer, the Compensation Committee assumed a bonus
payment of 100% of the executive officer's cash bonus target for
2015 (with the exception of Dr. Schwab for whom a bonus payment of
111% of her cash bonus target for 2015 was assumed) divided by
$4.20, the closing market price of the Company's common stock on
Feb. 11, 2016.  The RSUs were granted under the Exelixis, Inc. 2014
Equity Incentive Plan and vested in full upon grant.  The RSUs are
evidenced by RSU Grant Notices and RSU Agreements, which, together
with the 2014 Plan, set forth the terms and conditions of the RSUs.
The number of shares subject to the RSUs granted to the Executive
Officers on Feb. 11, 2016, is as follows:

                                                Number of Shares
Named Executive Officer                         Suject to RSUs
-----------------------                        ----------------
Michael M. Morrissey, Ph.D.                          114,286
President and Chief Executive Officer
(principal executive officer)

Christopher J. Senner                                 53,572
Executive Vice President and
Chief Financial Officer
(principal financial officer)

Jeffrey J. Hessekiel                                  49,902
Executive Vice President, General Counsel
and Secretary

Peter Lamb, Ph.D.                                     45,378
Executive Vice President, Scientific Strategy
and Chief Scientific Officer

Gisela M. Schwab, M.D.                                65,498
President, Product Development and
Medical Affairs and Chief Medical Officer

Deborah Burke                                         27,301
Senior Vice President, Finance and Controller

                         Equity Awards

On Feb. 11, 2016, the Compensation Committee approved the grant of
compensatory stock options to certain of the Executive Officers in
consideration of their exceptional services to the Company.  The
Options were granted under the 2014 Plan and are evidenced by Stock
Option Grant Notices and Stock Option Agreements, which, together
with the 2014 Plan, set forth the terms and conditions of the
Options.  The Options have an exercise price of $4.20 per share,
the fair market value of the Company's common stock on the date of
grant, and expire seven years from the date of grant or earlier
upon forfeiture or following termination of continuous service with
the Company.  As a general matter, any portion of an executive
officer's Option that has vested will expire three months after
such Executive Officer's termination of continuous service, subject
to extension under the Exelixis, Inc.  Change in Control and
Severance Benefit Plan.  The Options vest as to 1/4thof the
original number of shares subject to the Option on the one-year
anniversary of the grant date, and thereafter as to 1/48th of the
original number of shares subject to the Option on each monthly
anniversary of the grant date.  Each of the Executive Officers is a
party to the Exelixis, Inc.  Change in Control and Severance
Benefit Plan, which provides for acceleration of vesting and
extended exercisability of the Options in the event of certain
specified change in control events involving the Company.  The
number of shares subject to the Options granted to certain of the
Executive Officers on Feb. 11, 2016, is as follows:

                                                Number of Shares
   Named Executive Officer                     Subject to Options
   -----------------------                     ------------------
Michael M. Morrissey, Ph.D.                          150,000
President and Chief Executive Officer
(principal executive officer)

Peter Lamb, Ph.D.                                     40,000
Executive Vice President, Scientific Strategy
and Chief Scientific Officer

Gisela M. Schwab, M.D.                                75,000
President, Product Development and
Medical Affairs and Chief Medical Officer

                      About Exelixis Inc.

Headquartered in South San Francisco, California, Exelixis, Inc.,
develops innovative therapies for cancer and other serious
diseases.  Through its drug discovery and development activities,
Exelixis is building a portfolio of novel compounds that it
believes has the potential to be high-quality, differentiated
pharmaceutical products.

Exelixis reported a net loss of $269 million on $25.1 million of
total revenues for the year ended Dec. 31, 2014, compared with a
net loss of $245 million on $31.3 million of total revenues in
2013.

As of Sept. 30, 2015, the Company had $363.24 million in total
assets, $437.46 million in total liabilities and a $74.22 million
total stockholders' deficit.


EXELIXIS INC: Eastern Capital Reports 3.2% Stake as of Feb. 11
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Eastern Capital Limited, Portfolio Services Ltd., and
Kenneth B. Dart disclosed that as of Feb. 11, 2016, they
beneficially own 7,227,686 shares of common stock of Exelixis,
Inc., representing 3.2 percent of the shares outstanding.  A copy
of the regulatory filing is available for free at:

                       http://is.gd/O5Rly2

                       About Exelixis Inc.

Headquartered in South San Francisco, California, Exelixis, Inc.,
develops innovative therapies for cancer and other serious
diseases.  Through its drug discovery and development activities,
Exelixis is building a portfolio of novel compounds that it
believes has the potential to be high-quality, differentiated
pharmaceutical products.

Exelixis reported a net loss of $269 million on $25.1 million of
total revenues for the year ended Dec. 31, 2014, compared with a
net loss of $245 million on $31.3 million of total revenues in
2013.

As of Sept. 30, 2015, the Company had $363.24 million in total
assets, $437.46 million in total liabilities and a $74.22 million
total stockholders' deficit.


FAIRWAY GROUP: Moody's Cuts Corporate Family Rating to Caa2
-----------------------------------------------------------
Moody's Investors Service downgraded Fairway Group Acquisition
Company's Corporate Family Rating to Caa2 from Caa1 and its
Probability of Default Rating to Caa2-PD from Caa1-PD. Moody's also
downgraded the rating for Fairway's $267 million senior secured
term loan and $40 million senior secured revolving credit facility
to Caa2 from Caa1. Fairway's speculative grade liquidity rating was
affirmed at SGL- 4. The outlook remains negative.

"Fairway's operating performance and liquidity continues to be weak
and we expect the company to breach it's financial covenants in the
fourth quarter ending April 3, 2016," Moody's Senior Analyst Mickey
Chadha stated. "Although Fairway can exercise equity cure rights or
seek some form of covenant relief from lenders to avoid default,
any such cure or relief without the larger capital infusion that
the company is actively exploring would only be temporary as its
current capital structure is unsustainable and could result in some
form of distressed exchange", Chadha further stated.

RATINGS RATIONALE

The Caa2 Corporate Family Rating reflects Fairway's continued weak
operating results, small scale, poor liquidity and credit metrics,
geographic concentration, and Moody's expectation that cash flow
and profitability will continue to be strained as same store sales
face continuing competitive pricing pressures. Without the capital
to effectively conduct promotional and marketing activity in a
highly competitive market, Fairway's top line growth will prove
elusive and cash flows and liquidity will remain strained.
Fairway's operations are highly concentrated geographically and the
combination of small scale and close proximity of its stores
increase vulnerability to competitive openings. The company has
also had to scale back on its aggressive expansion plans partially
due to declining profitability and free cash flow. Moody's believes
store growth will have to be curtailed until the company's debt
burden ceases to be a strain on the company's cash flow. Moody's
estimates debt to EBITDA (with Moody's standard adjustments) to be
over 10.0 times and does not expect credit metrics to improve
materially in the next 12 months without a capital infusion as
margin pressure due to increased competition and promotional
activity is expected to continue. Ratings also reflect Fairway's
good market presence, attractive market niche, name recognition and
strong brand equity.

The following ratings are downgraded:

Corporate Family Rating at Caa2 from Caa1

Probability of Default Rating at Caa2-PD from Caa1-PD

$40 million senior secured revolving credit facility
maturing 2017 at Caa2 (LGD3) from Caa1 (LGD3)

$267 million senior secured term loan maturing 2018 at
Caa2 (LGD3) from Caa1 (LGD3)

The following ratings are affirmed:

Speculative Grade Liquidity Rating at SGL-4

The negative rating outlook reflects Moody's expectation that the
company's profitability and top-line will continue to be pressured
and that absent any improvement in operating performance the
company will most likely need to issue equity or get some type of
relief from its lenders to avoid covenant violations in the next 6
months. Although the company is actively working on addressing
these issues through a capital infusion any such remedy is
uncertain at this time.

Ratings could be upgraded if the company's liquidity profile
improves such that it is adequate, and EBITDA and same store sales
trends improve. Quantitatively ratings could be upgraded if the
company demonstrates the ability improve operating performance such
that debt/EBITDA approaches 7.0 times and EBIT/interest is
sustained above 1.0 time.

Ratings could be downgraded due to a distressed exchange or if
liquidity deteriorates, or the company is unable to improve its
operating performance and avoid covenant violations. Ratings could
also be downgraded if debt/EBITDA and EBIT/interest does not
demonstrate a sustained improvement from current level.

Fairway is a publicly traded grocery store operator with 15 grocery
stores and 4 wine stores in New York, New Jersey and Connecticut.
Sterling Investment Partners owns about 48% of the company.
Revenues totaled $764 million for the LTM period ending December
27, 2015.


FOUR OAKS: Reports 2015 Q4 Earnings and Annual Results
------------------------------------------------------
Four Oaks Fincorp, Inc., the holding company for Four Oaks Bank &
Trust Company, announced the results for the fourth quarter and 12
months ended Dec. 31, 2015.  

For the three months ended Dec. 31, 2015, the Company reported net
income of $810,000 or $0.03 per basic and diluted share compared to
net income of $633,000 or $0.04 per basic and diluted share for the
same period in 2014.  For the 12 months ended Dec. 31, 2015, the
Company had net income of $20 million or $0.62 per basic and
diluted share compared to a net loss of $4.2 million or $0.24 per
basic and diluted share for the same period in 2014.

President and Chief Executive Officer David H. Rupp stated, "We
continue to make progress in the execution of our strategic plan.
We accomplished many of our goals for 2015 including restructuring
the balance sheet, improving asset quality, transitioning our
technology platform and growing loans and deposits.  With this work
behind us, our team can focus on growing the Bank and continuing to
serve our wonderful customers.  We remain thankful for their
support and for the support of our communities."

Net Interest Income and Net Interest Margin:

Net interest margin annualized for the three and 12 months ended
Dec. 31, 2015, was 3.4% and 3.3%, respectively, compared to 2.6%
for these same periods in 2014.  Net interest income before the
provision for loan losses totaled $5.6 million and $22.6 million
for the three and twelve months ended Dec. 31, 2015, respectively,
as compared to $5.2 million and $20.7 million for the same periods
in 2014.  The increased net interest income stems primarily from
increased investment income, declining interest expense on
deposits, and lower expense on long-term borrowings that resulted
from balance sheet strategies executed by the Company during 2014
and 2015.

Non-Interest Income:

Non-interest income was $4.7 million and $9.6 million for the three
and twelve months ended Dec. 31, 2015, respectively, compared to
$3.3 million and $11.1 million for the same periods in 2014.  The
increased income for the quarter was primarily driven by increased
gains from the sale of problem loans identified during the
previously disclosed Asset Resolution Plan, offset by declines in
ACH third party payment processors (TPPP) indemnification income as
the Company's exit from this business line exit is complete.

Non-Interest Expense:

Non-interest expense totaled $9.4 million and $28.6 million for the
three and twelve months ended Dec. 31, 2015, respectively, as
compared to $7.9 million and $28.1 million for the same periods in
2014.  Salaries and benefit related expenses were a primary driver
of the change with an increase of $1.5 million and $3.2 million for
the three and twelve month periods, respectively.  This increase
includes compensation costs related to restructuring the
organization along with increased investment in our associates.
Other operating expenses were also elevated and increased $275,000
and $986,000 for the three and twelve month periods, respectively,
as the Company upgraded its technology platform during 2015.  The
Company continued to restructure the balance sheet during 2015 and
extinguished $40 million of long-term debt with a total expense of
$2.1 million for the twelve months ended Dec. 31, 2015, as compared
to $22 million in extinguishments with a total expense of $1.5
million for the same period in 2014.  These increases were offset
by declines in collection and foreclosed asset related expenses,
lower FDIC insurance premiums, and reduced professional and
consulting fees as we began to benefit from improved asset quality
and reductions in risk.

Income Taxes:

The Company reported no income tax expense for the three months
ended Dec. 31, 2015, and Dec. 31, 2014.  The Company also reported
a $16.5 million income tax benefit for the twelve months ended Dec.
31, 2015, compared to no income tax expense or benefit for the
twelve months ended Dec. 31, 2014.  The income tax benefit in 2015
was the result of a reversal of a portion of the valuation
allowance against the Company's deferred tax assets which occurred
during the second quarter of 2015.

Balance Sheet:

Total assets were $691.2 million at Dec. 31, 2015, compared to
$820.8 million at Dec. 31, 2014, a decline of $129.6 million
related nearly entirely to the exit of the ACH TPPP business line.
Cash, cash equivalents, and investments were $189.2 million at Dec.
31, 2015, compared to $336.9 million at Dec. 31, 2014, a decrease
of $147.7 million related almost entirely to the above-mentioned
business line exit.  Total loans increased to $458.3 million at
Dec. 31, 2015, compared to $452.3 million at Dec. 31, 2014, as loan
production was offset by pay downs, maturities, and the resolution
of problem loans during the year.  Total liabilities were $631.0
million at Dec. 31, 2015, compared to $780.1 million at Dec. 31,
2014, a decline of $149.1 million primarily due to the business
line exit and reductions in long-term borrowings.

Total shareholders' equity increased $19.5 million to $60.2 million
at Dec. 31, 2015, compared to $40.7 million at Dec. 31, 2014.  This
increase resulted from net income due to improved operating
performance, as well as the reversal of the $16.5 million valuation
allowance against the Company's deferred tax assets recognized
during the second quarter of 2015.

Asset Quality:

Asset quality continued to improve with classified assets to
capital declining to 12.4% as of December 31, 2015 compared to
23.9% at Dec. 31, 2014.  Total nonperforming assets, which includes
nonaccrual loans and foreclosed assets, totaled $8.4 million or
1.2% of total assets at Dec. 31, 2015, as compared to $13.9 million
or 1.7% of total assets at Dec. 31, 2014.  The Company focused on
resolution of problem assets during 2015 and completed the Asset
Resolution Plan during the fourth quarter 2015.  The allowance for
loan and lease losses increased to $9.6 million as of December 31,
2015 compared to $9.4 million as of Dec. 31, 2014, due to net
recoveries of $238,000 during the twelve months ended Dec. 31,
2015.  The allowance for loan and lease losses as a percentage of
gross loans remains 2.1% at Dec. 31, 2015, as compared to the same
period in 2014.

Capital:

Capital has continued to improve due to the increased profitability
and improvements in asset quality. The Bank remains well
capitalized at December 31, 2015 and reports a leverage ratio of
10.2%, an increase of 300 basis points over 2014; common equity
Tier 1 capital and Tier 1 risk based capital of 14.4% and total
risk based capital of 15.7%.  At Dec. 31, 2014, the Bank had a
leverage ratio of 7.2%, common equity Tier 1 capital and Tier 1
risk based capital of 13.5%, and total risk based capital of
14.7%.

With $691.2 million in total assets as of Dec. 31, 2015, the
Company, through its wholly-owned subsidiary, Four Oaks Bank &
Trust Company, offers a broad range of financial services through
its sixteen offices in Four Oaks, Clayton, Smithfield, Garner,
Benson, Fuquay-Varina, Wallace, Holly Springs, Harrells, Zebulon,
Dunn, Raleigh (LPO), Apex (LPO) and Southern Pines (LPO), North
Carolina. Four Oaks Fincorp, Inc. trades through its market makers
under the symbol of FOFN.

                        About Four Oaks

Four Oaks Fincorp, Inc., through its wholly-owned subsidiary, Four
Oaks Bank & Trust Company, offers a broad range of financial
services through its sixteen offices in Four Oaks, Clayton,
Smithfield, Garner, Benson, Fuquay-Varina, Wallace, Holly Springs,
Harrells, Zebulon, Dunn, Raleigh (LPO), Apex (LPO) and Southern
Pines (LPO), North Carolina.  Four Oaks Fincorp, Inc. trades
through its market makers under the symbol of FOFN.

Four Oaks Fincorp reported a net loss of $4.18 million in 2014, 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, 2015, the Company had $714.50 million in total
assets, $654.28 million in total liabilities and $60.21 million in
total shareholders' equity.


FRESH & EASY: Has Until April 27, 2016 to File Ch. 11 Plan
----------------------------------------------------------
Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware extended Fresh & Easy, LLC's exclusive plan
filing period through and including April 27, 2016, and its
exclusive solicitation period through and including June 27, 2016.

The Debtor originally asked the Court to extend the exclusive plan
filing period through and including May 27, 2016, and the exclusive
solicitation period through and including July 26, 2016.

According to J. Kate Stickles, Esq., at Cole Schotz P.C., in
Wilmington, Delaware, prior to the objection deadline, the Official
Committee of Unsecured Creditors requested that the proposed order
provide for a 60-day extension, as opposed to the requested 90-day
extension, of the exclusive periods.  The Committee agreed,
however, that the Exclusive Periods may be extended for an
additional 30-day period upon submission to and entry by the Court
of a stipulated order between the Debtor and the Committee
providing for the extension.

In support of the extension request, the Debtor related that it has
been operating under the protection of chapter 11 for approximately
three months, and during this short period of time has made
significant and material progress in administering the Chapter 11
Case.  The extension will provide the Debtor and its advisors the
opportunity to fully negotiate, confirm and implement the terms of
a chapter 11 plan for the distribution of assets to creditors, Ms.
Stickles said.

The Debtor is also represented by Norman L. Pernick, Esq., Patrick
J. Reilley, Esq., and David W. Giattino, Esq., at Cole Schotz P.C.,
in Wilmington, Delaware.

                        About Fresh & Easy

Fresh & Easy, LLC, a chain of grocery stores in the Southwest
United States, filed Chapter 11 bankruptcy petition (Bankr. D.
Del., Case No. 15-12220) on Oct. 30, 2015.  The petition was signed
by Peter McPhee as chief financial officer.  The Debtor estimated
assets of $10 million to $50 million and liabilities of at least
$100 million.

The Debtor has engaged Cole Schotz P.C. as counsel, Epiq Bankruptcy
Solutions, LLC as claims and noticing agent, DJM Realty Services,
LLC and CBRE Group, Inc., as real estate consultants and
FTI Consulting, Inc. as restructuring advisors.

Judge Christopher S. Sontchi is assigned to the case.


FRESH & EASY: Sells Calif. Furniture to RFFM for $22,500
--------------------------------------------------------
Fresh & Easy, LLC, obtained authority from Judge Christopher
Sontchi of the U.S. Bankruptcy Court for the District of Delaware
to sell to RFFM, LLC, the furniture, fixtures, and equipment and
any liquor licenses held by the Debtor at its former operating
location at 4036 Lone Tree Way, in Antioch, California, for
$22,500.

The Debtor related that YFE Holdings, Inc., the Debtor's parent, is
the single member of RFFM.  The Debtor, however, contended that its
decision to proceed with the sale to RFFM is a sound exercise of
business judgment as no other offers were received for the
California assets.  The Debtor further contended that proceeding by
private sale and without conducting a formal auction significantly
reduces the transaction costs associated with the proposed sale,
which has only a $22,500 cash component.

Prior to the Objection Deadline, the Office of the United States
Trustee provided informal comments to the form of order annexed to
the Sale Motion.  Following discussions with RFFM and the U.S.
Trustee, the Debtor has agreed to a revised form of order, which
consensually resolved the U.S. Trustee's comments on terms agreed
to by RFFM.


                        About Fresh & Easy

Fresh & Easy, LLC, a chain of grocery stores in the Southwest
United States, filed Chapter 11 bankruptcy petition (Bankr. D.
Del., Case No. 15-12220) on Oct. 30, 2015.  The petition was signed
by Peter McPhee as chief financial officer.  The Debtor estimated
assets of $10 million to $50 million and liabilities of at least
$100 million.

The Debtor has engaged Cole Schotz P.C. as counsel, Epiq Bankruptcy
Solutions, LLC as claims and noticing agent, DJM Realty Services,
LLC and CBRE Group, Inc., as real estate consultants and
FTI Consulting, Inc. as restructuring advisors.

Judge Christopher S. Sontchi is assigned to the case.


FTE NETWORKS: Signs Strategic Alliance Agreement With Edge
----------------------------------------------------------
FTE Networks, Inc., has signed a multi-million, multi-year
strategic alliance agreement with Plano, Texas-based Edge
Communications.

Earlier this month, Edge engaged FTE with a signed Letter of Intent
for work to support Edge on a multi-state network expansion project
valued up to $100 million dollars over the next 36 months. Under
the terms of the agreement, FTE Networks will be performing
engineering, management and outside plant infrastructure services.

This week, Edge and FTE finalized the strategic alliance agreement
and FTE will begin work Monday, Feb. 22, 2016, in the following
four markets: Des Moines, IA; Quad Cities, IA; Springfield, MO; and
Valdosta, GA.  In addition, FTE Networks will provide services to
manage the end-to-end infrastructure installation.

Carlie Ancor, chief technology officer of FTE Networks, said, "To
formalize a strategic alliance agreement with a company like Edge
is a significant development for FTE Networks.  Not only does it
help us expand into four important markets, it solidifies our
strategic growth plan.  To be in alignment with a high caliber
company like Edge, it demonstrates our ability to cultivate strong
relationships based on our quality of work, management and
experience."

Mark Miller, chief operating officer of Edge, stated, "We believe
that partnering with FTE Networks was the right decision to ensure
success because they deliver superior work, are able to keep costs
down and increase our speed to market.  This is the beginning of a
long-lasting partnership."

                     About FTE Networks, Inc.

FTE Networks, formerly known as Beacon Enterprise Solutions Group,
Inc., is a vertically integrated company with an international
footprint.  Since its inception, FTE Networks has steadily
advanced its management, operational and technical capabilities to
become a leading provider of services to the telecommunications
and wireless sector with a focus on turnkey solutions.  FTE
Networks provides a comprehensive array of services centered on
quality, efficiency and customer service.

FTE Networks reported a net loss attributable to common
shareholders of $3.63 million on $14.4 million of revenues for the
year ended Sept. 30, 2015, compared to net income of $436,000 on
$16.9 million of revenues for the year ended Sept. 30, 2014.

As of Sept. 30, 2015, the Company had $4.89 million in total
assets, $16.0 million in total liabilities, and a total
stockholders' deficiency of $11.1 million.


FUTUREWORLD CORP: Needs More Time to File Dec. 31 Form 10-Q
-----------------------------------------------------------
Futureworld Corp. filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Dec. 31, 2015.  According to the Company, the report could not be
timely filed because of the time required for its independent
public accountant to complete the review of the filing.

                    About Futureworld Corp.

Saint Petersburg, Florida-based FutureWorld Corp. (FWDG) is a
provider of technologies and solutions to the global cannabis
industry.  FutureWorld, together with its subsidiaries, is focused
on the identification, acquisition, development, and
commercialization of cannabis related products and services, like
industrial hemp.

For the year ended March 31, 2015, the Company reported a net loss
of $1.40 million compared to a net loss of $156,319 for the year
ended March 31, 2014.

For the year ended March 31, 2015, the Company incurred a net loss
of $1,405,156.  As of March 31, 2015, the Company had a working
capital of $3,715 and $3,715 in cash with which to satisfy any
future cash requirements.  These, according to the Company,
conditions raise substantial doubt about its ability to continue as
a going concern.

As of Sept. 30, 2015, Futureworld had $34.95 million in total
assets, $1.84 million in total liabilities and $33.44 million in
total stockholders' equity.


GENERAL MOTORS: Moody's Assigns Ba1 Rating to $2BB Notes Offering
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to General Motors
Company's (GM) $2 billion offering of senior unsecured notes. The
Ba1 rating of GM's existing $7 billion of senior unsecured notes
and the Baa3 rating of its $12.5 billion senior unsecured credit
facility are unchanged. The outlook is positive.

RATINGS RATIONALE

GM's long-term ratings and positive outlook reflect Moody's
expectation that the company will continue to strengthen its
performance in North America and Europe, and that it will maintain
a strong position in China. In addition, we expect that the company
will continue to make progress in building an operating structure
that can contend with the risk inherent in the global automotive
sector. During 2016 GM's operating performance and credit metrics
should continue to improve as a result of: healthy automotive
demand fundamentals in North America, rebounding demand in Europe,
and continued adherence to a highly disciplined operating model.

GM will use proceed from the $2 billion note offering to make a
discretionary contribution to its US pension plan. This would
reduce the pensions total underfunding from $21 billion (at year
end 2015) to $19 billion, and its US underfunding from $10 billion
(year end 2015) to $8 billion. Despite this reduction, GM's
unsecured notes, that are issued at the holding company level, will
remain subject to considerable structural subordination relating to
the pension liabilities at the operating company level.
Consequently, the rating on the notes remains at Ba1, while the
company's credit facility rating, which is not subject to
structural subordination, remains at Baa3.

At year end 2015, GM's liquidity position was strong. Gross
liquidity stood at $32.5 billion, and consisted of $20.3 billion of
cash, cash equivalents, marketable securities, and $12.2 billion in
committed credit facilities.

GM's rating could improve if the company remains on its current
trajectory for improved performance for 2016. Metrics that could
support additional positive rating action include: EBITA margin
above 8%; debt/EBITDA remaining near 2x; and EBITA/interest
approaching 6x.

Downward pressure on GM's ratings could result from an erosion in
the company's US business and brand position, a decision to
increase leverage as part of a more aggressive financial strategy,
or a weak performance for the North American new product
initiative. Metrics that might indicate pressure on the rating
include: EBITA margin remaining near or below 5%; debt/EBITDA
exceeding 3x; and EBITA/interest below 3.5x.

GM's long-term ratings and positive outlook reflect Moody's
expectation that the company will continue to strengthen its
performance in North America and Europe, and that it will maintain
a strong position in China. In addition, we expect that the company
will continue to make progress in building an operating structure
that can contend with the risk inherent in the global automotive
sector. During 2016 GM's operating performance and credit metrics
should continue to improve as a result of: healthy automotive
demand fundamentals in North America, rebounding demand in Europe,
and continued adherence to a highly disciplined operating model.

GM will use proceed from the $2 billion note offering to make a
discretionary contribution to its US pension plan. This would
reduce the pensions total underfunding from $21 billion (at year
end 2015) to $19 billion, and its US underfunding from $10 billion
(year end 2015) to $8 billion. Despite this reduction, GM's
unsecured notes, that are issued at the holding company level, will
remain subject to considerable structural subordination relating to
the pension liabilities at the operating company level.
Consequently, the rating on the notes remain at Ba1, while the
company's credit facility rating, which is not subject to
structural subordination, remains at Baa3.

At year end 2015 GM's liquidity position was strong. Gross
liquidity stood at $32.5 billion, and
consisted of $20.3 billion of cash, cash equivalents, marketable
securities, and $12.2 billion in committed credit facilities.

GM's rating could improve if the company remain on its current
trajectory for improved performance for 2016. Metrics that could
support additional positive rating action include: EBITA margin
above 8%; debt/EBITDA remaining near 2x; and EBITA/interest
approaching 6x.

Downward pressure on GM's ratings could result from an erosion in
the company's US business and brand position, a decision to
increase leverage as part of a more aggressive financial strategy,
or a weak performance for the North American new product
initiative. Metrics that might indicate pressure on the rating
include: EBITA margin remaining near or below 5%; debt/EBITDA
exceeding 3x; and EBITA/interest below 3.5x.


GENIUS BRANDS: Brio Capital Reports 6.1% Equity Stake
-----------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange Commission
on Feb. 12, 2016, Brio Capital Master Fund Ltd. disclosed that it
beneficially owns 683,450 shares of Common Stock of Genius Brands
representing 6.12 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/tac73o

                     About Genius Brands

Beverly Hills, Calif.-based Genius Brands International, Inc.,
creates and distributes music-based products which it believes are
entertaining, educational and beneficial to the well-being of
infants and young children under its brands, including Baby Genius
and Little Genius.

Genius Brands reported a net loss of $3.72 million in 2014, a net
loss of $7.21 million in 2013, a net loss of $2.06 million in
2012 and a net loss of $1.37 million in 2011.

As of Sept. 30, 2015, the Company had $16.0 million in total
assets, $4.67 million in total liabilities, and $11.3 million in
total equity.


GENIUS BRANDS: Wolverine Flagship Holds 9.9% Stake as of Dec. 31
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Wolverine Flagship Fund Trading Limited, Wolverine
Asset Management, LLC, Wolverine Holdings, L.P., Wolverine Trading
Partners, Inc., Christopher L. Gust and Robert R. Bellick disclosed
that as of Dec. 31, 2015, they beneficially own
35,500 shares of common stock and Series A Preferred Stock
convertible into 2,250,000 shares of common stock of Genius Brands
International, Inc., representing 9.99 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/Lh4y0C

                     About Genius Brands

Beverly Hills, Calif.-based Genius Brands International, Inc.,
creates and distributes music-based products which it believes are
entertaining, educational and beneficial to the well-being of
infants and young children under its brands, including Baby Genius
and Little Genius.

Genius Brands reported a net loss of $3.72 million in 2014, a net
loss of $7.21 million in 2013, a net loss of $2.06 million in
2012 and a net loss of $1.37 million in 2011.

As of Sept. 30, 2015, the Company had $16.0 million in total
assets, $4.67 million in total liabilities, and $11.3 million in
total equity.


GLYECO INC: Appoints Ian Rhodes as Chief Financial Officer
----------------------------------------------------------
GlyEco, Inc., announced changes to its executive leadership team
that will accelerate the Company's growth strategies.  These
changes include the appointment of Ian Rhodes as the Company's
chief financial officer and the promotion of Grant Sahag as the
Company's president and chief information officer.

"Ian is an accomplished executive with significant financial and
operational expertise, including as a CFO, and will be an
exceptional addition to our team," stated David Ide, the Company's
interim chief executive officer.  Mr. Ide continued, "Ian's broad
business experience, which encompasses commercial, R&D, quality,
regulatory, manufacturing, and supply chain, will be an asset to us
in implementing a significantly streamlined and more flexible cost
structure and operating model, while enabling us to focus on our
highest-potential growth opportunities and executing on our current
and long term strategies."

"I am very eager to get started with GlyEco and to support the
Company as it continues to focus on optimization of its footprint,
profitability, and operational expansion," commented Mr. Rhodes.
"It is a tremendous opportunity to join GlyEco at such an exciting
time," continued Mr. Rhodes.  "GlyEco's long-standing commitment to
science, innovation, and improving the glycol industry is
unsurpassed among waste companies.  The next 12 months will be a
great opportunity to combine and leverage my executive experiences
within a critical time in the Company's turnaround plan and to
create value for our shareholders, clients, and staff."

Mr. Rhodes began at PricewaterhouseCoopers LLP, where he was an
audit senior manager and worked with some of the firm's largest and
most technically challenging audit clients.  He then served as the
vice president, chief accounting officer, and treasurer of Arch
Capital, where he acted as the lead accounting technical resource,
including overall responsibility for SEC and GAAP technical
matters.  Most recently, Mr. Rhodes served as chief financial
officer of Calmare Therapeutics Incorporated, where he was
responsible for all financial and accounting matters, including SEC
reporting.

In a separate organizational move, Grant Sahag has been promoted
from vice president and chief information officer to the Company's
president and chief information officer.  As President and Chief
Information Officer, Mr. Sahag will be delivering day-to-day
leadership to the Company's strategic initiatives, including
expansion and integration of the Company's Quality Control &
Assurance Program, implementation of field operation technology,
and GlyEco University, the Company's intellectual property and
education platform.  Mr. Sahag will also be working with the
interim chief executive officer and chief financial officer on
optimizing the business, identifying growth opportunities, and
directly influencing the Company's profit and loss strategies.

"Grant has been an important member of the GlyEco leadership team
for over five years, including most recently helping to guide the
Company during a period of significant change in our direction and
focus during these past 12 months," said Mr. Ide.  "Grant's
promotion to President is another step for GlyEco and its plans to
become a stronger company that is better positioned to deliver
long-term value to our shareholders."  Mr. Ide added, "I believe in
Grant and am confident that he is perfectly positioned at GlyEco to
take on the additional responsibilities now under his influence"

Mr. Sahag commented, "I am excited to open another chapter of my
professional life and to have the opportunity to contribute to
GlyEco's legacy and long-term success.  The team of managing
partners, corporate officers, and employees are exceptional, and I
am very eager to continue our progress together."

The Company has completed and outlined its 2016 strategic goals,
which included adding leadership within the Company's finance and
accounting offices via the addition of Mr. Rhodes and our continued
engagement with Maria Tellez as Vice President of Finance to
oversee periodic reporting and ongoing processes.  With Mr. Sahag's
promotion, the Company will continue to execute its strategic goals
in 2016, finalize its three-year business plan, and meet its goal
of predicable and profitable growth.

Pursuant to the Employment Agreement with Mr. Rhodes, in exchange
for Mr. Rhodes performance of his duties as chief financial
officer, the Company will compensate him with an annual base salary
of $150,000.  Mr. Rhodes will be granted 2% of the Company's total
outstanding shares of Common Stock, following the Company's rights
offering, as equity compensation.  This stock will vest pursuant to
a schedule with certain stock price thresholds that must be
achieved based on a 30 trading day volume weighted average price.
Mr. Rhodes will also be eligible to receive an annual cash
incentive payable for the achievement of performance goals to be
established by the Compensation Committee of the Company's Board of
Directors up to 40% of his salary.  The Employment Agreement is for
an initial term of one year and will be automatically extended on
each anniversary unless earlier terminated.

Pursuant to the Employment Agreement with Mr. Sahag, in exchange
for Mr. Sahag's performance of his duties as president, the Company
will compensate him with an annual base salary of $120,000.  Mr.
Sahag will be granted 1% of the Company's total outstanding shares
of Common Stock, following the Company's rights offering, as equity
compensation.  This stock will vest pursuant to a schedule with
certain stock price thresholds that must be achieved based on a 30
trading day volume weighted average price. Mr. Sahag will also be
eligible to receive an annual cash incentive payable for the
achievement of performance goals to be established by the
Compensation Committee of the Company's Board of Directors up to
40% of his salary.  The Employment Agreement is for an initial term
of one year and will be automatically extended on each anniversary
unless earlier terminated.

                       About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

Glyeco reported a net loss attributable to common shareholders of
$8.73 million on $5.89 million of net sales for the year ended Dec.
31, 2014, compared with a net loss of $4 million on $5.53 million
of net sales for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $15.1 million in total
assets, $2.37 million in total liabilities and $12.8 million in
total stockholders' equity.

Semple, Marchal & Cooper, LLP, in Phoenix, Arizona, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has yet to
achieve profitable operations and is dependent on its ability to
raise capital from stockholders or other sources to sustain
operations and to ultimately achieve viable operations. These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


GLYECO INC: Leonid Frenkel Reports 9.9% Stake as of Dec. 31
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Leonid Frenkel disclosed that as of Dec. 31, 2015, he
beneficially owns 8,992,706 shares of common stock of Glyeco, Inc.,
representing 9.99 percent of the shares outstanding.  A copy  of
the regulatory filing is available at http://is.gd/K4oNVa

                         About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

Glyeco reported a net loss attributable to common shareholders of
$8.73 million on $5.89 million of net sales for the year ended Dec.
31, 2014, compared with a net loss of $4 million on $5.53 million
of net sales for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $15.1 million in total
assets, $2.37 million in total liabilities and $12.8 million in
total stockholders' equity.

Semple, Marchal & Cooper, LLP, in Phoenix, Arizona, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has yet to
achieve profitable operations and is dependent on its ability to
raise capital from stockholders or other sources to sustain
operations and to ultimately achieve viable operations. These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


GREEN AUTOMOTIVE: Incurs $4.22 Million Net Loss in Q3 2014
----------------------------------------------------------
Green Automotive Company filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.22 million on $1.66 million of revenues for the three months
ended Sept. 30, 2014, compared to a net loss of $25.41 million on
$644,624 of revenues for the same period in 2013.

For the nine months ended Sept. 30, 2015, the Company reported net
income of $46.48 million on $3.45 million of revenues compared to
net income of $9.67 million on $828,888 of revenues for the nine
months ended Sept. 30, 2013.

As of Sept. 30, 2014, the Company had $1.02 million in total
assets, $17.62 million in total liabilities and a total
stockholders' deficit of $16.60 million.

A full-text copy of the Form 10-Q is available for free at:

                    http://is.gd/LrBWoX

                    About Green Automotive Company

Green Automotive Company is a vehicle design, engineering,
manufacturing and distribution company.  The Company also provides
after sales program.  It possesses a portfolio of businesses and
is active in three main market segments: Cutting edge technology
development, engineering and design with a focus on zero and low
emission vehicle solutions; Manufacturing and customization of
vehicles for markets with the potential to be converted into low
emission or electric vehicles, such as shuttle buses, taxis,
commercial vehicles, and After sales services for electric or low
emission vehicles, including servicing and repair.

The Company has sustained recurring operating losses and past due
payables.  These conditions, among others, give rise to
substantial doubt about its ability to continue as a going
concern, according to the Company's Form 10-Q for the period ended
June 30, 2014.


GROW CONDOS: Incurs $116,000 Net Loss in Second Quarter
-------------------------------------------------------
Grow Condos, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $116,194 on $23,783 of total revenues for the three months ended
Dec. 31, 2015, compared to a net loss of $60,592 on $9,960 of total
revenues for the same period in 2014.

For the six months ended Dec. 31, 2015, the Company reported a net
loss of $135,952 on $60,566 of total revenues compared to a net
loss of $159,756 on $24,700 of total revenues for the six months
ended Dec. 31, 2014.

As of Dec. 31, 2015, Grow Condos had $1.27 million in total assets,
$1.22 million in total liabilities and $53,209 in total
shareholders' equity.

A full-text copy of the Form 10-Q is available for free at:
   
                     http://is.gd/2FOAMy

                       About Grow Condos

Grow Condos, Inc. operates as a real estate purchaser, developer,
and manager of specific use industrial properties in the United
States.  The company provides condo type turn-key grow facilities
to support cannabis growers.  It is also involved in the
development, lease, ownership, and provision of investment sales
opportunities for commercial industrial properties focused in the
cannabis production arena.  The company is based in Eagle Point,
Oregon.

The Company reported a net loss of $99,200 on $14,700 of total
revenues for the three months ended Dec. 31, 2014, compared with
a net loss of $2,390 on $900 of total revenues for the same period
in 2013.


GUESTLOGIX INC: Ontario Court Names PwC as CCAA Monitor
-------------------------------------------------------
PricewaterhouseCoopers Inc. has been appointed as monitor for
GuestLogix Inc. and GuestLogix Ireland Limited pursuant to an order
from the Ontario Superior Court of Justice Commercial List under
the Companies' Creditors Arrangement Act (Court File No.
CV-16-11281-00CL).

The firm can be reached at:

    PricewaterhouseCoopers Inc.
    Monitor of GuestLogix Inc. and
    GuestLogix Ireland Limited
    PwC Tower, 18 York Street, Suite 2600
    Toronto, ON M5J 0B2
    Tel: +1 416 687 8238
    Email: cmt_processing@ca.pwc.com

                        About GuestLogix

GuestLogix -- http://www.guestlogix.com-- provides merchandising,
payment and business intelligence technology to the passenger
travel industry, both onboard and off-board.


HEBREW HOSPITAL: U.S. Trustee Wants Appointment of Ch. 11 Trustee
-----------------------------------------------------------------
William K. Harrington, the U.S. Trustee for Region 2, filed with
the U.S. Bankruptcy Court for the Southern District of New York a
motion for the appointment of a Chapter 11 trustee in the case of
Hebrew Hospital Senior Housing, Inc., or alternatively, the
dismissal of the case.

The U.S. Trustee claims that the Debtor's current management and
professionals suffer from obvious conflicts of interest, including
representing both the Debtor and a third party in the latest
attempt to obtain financing for the Debtor.  According to the U.S.
Trustee, the Debtor will be unable to neutrally review
inter-company payments, determine which entity owns the real
property,
and review transfers generally.  "It is best to have an independent
fiduciary to review all matters, including the possibility of a
sale, given the common management and professionals for all the
affiliated companies," the U.S. Trustee says.

The U.S. Trustee states in the motion that a Chapter 11 trustee is
necessary due to these reasons:

      (a) the Debtor has failed to explain why it has incurred
          significant debts, necessitating the use of resident
          "entrance fees" and loans from affiliates for operating
          expenses;

      (b) the CEO has received significant compensation, including

          $545,901 in 2014, and a trustee can review the
          appropriateness of these payments, as well as payments
          to the various professionals and consultants listed in
          the Debtor's books;

      (c) although the Debtor has not reconciled books and records

          for intercompany loans for 2015, the Debtor sought to
          repay debtor Hebrew Hospital Home of Westchester, Inc.,
          approximately $3.5 million in the first few days of the
          case;

      (d) a trustee can review any sale of the Debtor to ensure
          value is maximized, and also explore other options, like

          the sale of the Debtor's real property.

Alternatively, case dismissal is necessary because there is a
substantial and continuing loss, the U.S. Trustee states.  "The
Debtor has stated that it cannot continue operations without
financing.  The Debtor is unable to confirm a plan.  Although the
Debtor has stated it can find a buyer, it has not succeeded to
date.  Without approval of financing, the Debtor cannot
reorganize," the U.S. Trustee says in the motion.

On Jan. 14, 2016, Judge Michael E. Wiles entered an order
authorizing the joint administration of HHH Choices Health Plan,
LLC, Hebrew Hospital Senior Housing, Inc. (aka Westchester Meadows
Continuing Care Retirement Community and Fieldstone at Westchester
Meadows), and Hebrew Hospital Homes of Westchester, Inc.  HHH
Choices Health Plan, LLC, should be consulted for all matters
affecting the cases.

                    About Hebrew Hospital

Hebrew Hospital Senior Housing Inc. sought for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Case No. 15-13264) on Dec.
9, 2015.  The petition was signed by Mary Frances Barrett as CEO.
Harter Secrest & Emery LLP represents the Debtor as counsel. The
Debtor has engaged RBC Capital Markets as its investment banker.
Judge Michael E. Wiles has been assigned the case.

In its schedules, the Debtor listed $35,894,397 in total assets and
$62,638,925 in total liabilities.

The Debtor is engaged in the sponsorship and operation of a 120
unit continuing care retirement community.  CCRCs are senior adult
programs that offer independent living apartments, residential
amenities and long-term care services to senior adults.  The Debtor
generates the majority of its revenue from resident entrance fees
and monthly rents.

The Office of the U.S. Trustee appointed five creditors to the
official committee of unsecured creditors.  DLA Piper LLP (US)
represents the committee.


HOVENSA LLC: Allowed to Waive Conditions to Plan Effectiveness
--------------------------------------------------------------
A bankruptcy judge allowed Hovensa LLC to waive the conditions
precedent to effectiveness of its Chapter 11 plan of liquidation.

The order, issued by Judge Mary Walrath, allowed the company to
waive the conditions contained in Article XI.A.4 and Article XI.A.9
of the liquidating plan.

On Jan. 20, the company, which sold most of its assets to Limetree
Bay Holdings LLC for $220 million, received final court approval
for the plan that resolved claims of its key stakeholders.

The liquidating plan provided for the allocation of $30 million of
the sale proceeds for holders of non-priority general unsecured
claims.

The plan also provided for the creation of the liquidating trust
and the environmental response trust.  Jay Borow will serve as the
liquidating trustee while Project Navigator Ltd. will administer
the other trust.

A copy of the latest versions of the trust agreements is available
without charge at:

   http://bankrupt.com/misc/HOVENSALLC_LTA020516.pdf
   http://bankrupt.com/misc/HOVENSALLC_ERTA021716.pdf

In a related development, Judge Walrath last week approved a
stipulation clarifying the obligations of the reorganized company
and the environmental response trust.  The stipulation is available
at http://is.gd/Lxhwjv

                          About Hovensa

Hovensa, L.L.C., produces and markets refined petroleum products.
The Company offers gasoline, diesel, home heating oil, jet fuel,
kerosene, and residual fuel oil.  Hovensa serves customers
throughout North America.

Hovensa L.L.C. filed a Chapter 11 bankruptcy petition in the U.S.
Bankruptcy Court for the District of the Virgin Islands (Bankr. D.
V.I. Case No. 15-10003) on Sept. 15, 2015.  The petition was signed
by Sloan Schoyer as authorized signatory.  The Debtor has estimated
assets of $100 million to $500 million, and liabilities of more
than $1 billion.

Judge Mary F. Walrath is assigned to the case.  The Law Offices of
Richard H. Dollison, P.C., serves as the Debtor's counsel.  Prime
Clerk LLC is the Debtor's claims and noticing agent.  Alvarez &
Marsal North America, LLC to provide Thomas E. Hill as chief
restructuring officer, effective Sept. 15, 2015 petition date.

The U.S. Trustee appointed five creditors to serve on the committee
of creditors holding unsecured claims.


IMPERIAL INTEGRATIVE: Chapter 11 Trustee to Sell Certain Assets
---------------------------------------------------------------
Myron N. Terlecky, the Chapter 11 Trustee for the bankruptcy case
of Imperial Integrative Health Research & Development LLC, will
sell at auction certain assets of the Debtor, which was in the
business of selling "OXYwater".  

For more information, contact:

    Myron N. Terlecky
    Chapter 11 Trustee
    575 S. Third St.
    Columbus, OH 43215
    Tel: (614) 228 6345
    Email: mnt@columbuslawyer.net

Based in Lewis Center, Ohio, Imperial Integrative Health Research &
Development LLC fka Imperial Health Products LLC aka OXYwater filed
for Chapter 11 protection on April 5, 2014 (Bankr. S.D. Ohio Case
No. 13-526890.  The Hon. John E. Hoffman Jr. presides over the
Debtor's case.  Shawn M. Riley, Esq., at McDonald Hopkins LLC,
represents the Debtor.  The Debtor estimated between $50,000 and
$1,000,000 in assets, and between $1,000,000 and $10,000,000 in
liabilities.


IMPLANT SCIENCES: Reports $3.31 Million Net Loss for Second Quarter
-------------------------------------------------------------------
Implant Sciences Corporation reported a net loss of $3.31 million
on $10.29 million of revenues for the three months ended Dec. 31,
2015, compared to a net loss of $6.24 million on $2.14 million of
revenues for the same period in 2014.

For the six months ended Dec. 31, 2015, the Company reported a net
loss of $4.22 million on $24.68 million of revenues compared to a
net loss of $11.61 million on $4.01 million of revenues for the six
months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $15.41 million in total
assets, $96.46 million in total liabilities and a total
stockholders' deficit of $81.05 million.

A full-text copy of the Form 10-Q is available for free at:

                       http://is.gd/YUE4FA

                      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.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  As of Sept. 15, 2015, the Company's principal
obligation to its primary lenders was approximately $65,046,000 and
accrued interest of approximately $15,393,000.  The Company is
required to repay all borrowings and accrued interest to these
lenders on March 31, 2016.  These conditions raise substantial
doubt about its ability to continue as a going concern.

                        Bankruptcy Warning

"Despite our current sales, expense and cash flow projections and
$3,766,000 in cash available from our line of credit with DMRJ, at
October 31, 2015, we will require additional capital in the third
quarter of fiscal 2016 to fund operations and continue the
development, commercialization and marketing of our products. There
can be no assurance that DMRJ will continue to make advances under
our revolving line of credit.  Our failure to achieve our
projections and/or obtain sufficient additional capital on
acceptable terms would have a material adverse effect on our
liquidity and operations and could require us to file for
protection under bankruptcy laws," the Company stated in its
quarterly report for the period ended Sept. 30, 2015.


INDEPENDENCE TAX IV: Incurs $205,000 Net Loss in Third Quarter
--------------------------------------------------------------
Independence Tax Credit Plus L.P. IV filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $204,595 on $425,803 of total revenues for the three
months ended Dec. 31, 2015, compared to net income of $11.22
million on $426,897 of total revenues for the same period in 2014.

For the nine months ended Dec. 31, 2015, the Partnership reported
net income of $10.25 million on $1.26 million of total revenues
compared to net income of $11.02 million on $1.26 million of total
revenues for the nine months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Partnership had $1.92 million in total
assets, $6.07 million in total liabilities and a total partners'
deficit of $4.14 million.

A full-text copy of the Form 10-Q is available for free at:

                       http://is.gd/kIgfbB

                    About Independence Tax IV

Independence Tax Credit Plus L.P. IV is a limited partnership which
was formed under the laws of the State of Delaware on
Feb. 22, 1995.  The general partner of the Partnership is Related
Independence L.L.C., a Delaware limited liability company.
Centerline Holding Company was the ultimate parent of Centerline
Affordable Housing Advisors LLC, the sole member of the Manager of
the General Partner.  On June 12, 2013, Centerline and an affiliate
of Hunt Companies, Inc. entered into an agreement and plan of
merger.  On Nov. 14, 2013, the shareholders of Centerline approved
the acquisition of Centerline by an affiliate of Hunt. On April 15,
2015, Alden Torch Financial LLC, a newly formed limited liability
company, became the indirect owner of 100% of the equity interests
in Centerline.  Since April 15, 2015, ATF has been the ultimate
parent and indirect owner of 100% of the equity interest in CAHA.
Prior to April 15, 2015, Hunt had been the ultimate majority equity
owner of CAHA.

At Sept. 30, 2015, the Partnership's liabilities exceeded assets by
$14,523,485 and for the six months ended  September 30, the
Partnership had net loss of $246,964.  These factors, according to
the Partnership, raise substantial doubt about its ability to
continue as a going concern.


INFRAX SYSTEMS: Delays Filing of Dec. 31 Form 10-Q
--------------------------------------------------
Infrax Systems, Inc. filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Dec. 31, 2015.  The Company said the report on Form 10-Q could not
be timely filed because of the time required for its independent
public accountant to complete the review of the filing.

                    About Infrax Systems

St. Petersburg, Fla.-based Infrax Systems, Inc., engages in the
design, development, systems integration, and manufacture of
turnkey secure solutions for the utility industry.

The Company reported a net loss of $501,000 on $16,000 of total
revenue for the quarter ended Sept. 30, 2014, compared with a net
loss of $559,000 on $65,200 of total revenue for the same period in
2013.

The Company's balance sheet at Dec. 31, 2014, showed $1.12 million
in total assets, $3.71 million in total liabilities, and a
stockholders' deficit of $2.59 million.


INTERLEUKIN GENETICS: Signs Services Agreement with Metagenics
--------------------------------------------------------------
Interleukin Genetics, Inc., announced the signing of an agreement
to provide Interleukin's PerioPredict test to Metagenics' employees
as part of an enhanced employee benefits program. PerioPredict will
be used to identify individuals who may benefit from reduction of
their systemic inflammatory burden as an approach to enhance
prevention and management of chronic diseases.

Under the terms of the agreement, Interleukin will provide genetic
testing and patient education to Metagenics employees, as well as
dental professional support to their dental providers.

"We are excited to introduce PerioPredict as a covered benefit in
our employee health plans.  Genetic testing is beginning to provide
us with a real opportunity for enhanced health through knowledge of
individual risk factors," said Allison Musetich, chief human
resources officer of Metagenics.  "Interleukin Genetics is at the
forefront of innovation for inflammation risk detection and using
periodontal care as an access point to reduce inflammation, improve
wellness, and reduce health care costs.  This enhanced benefit
provides the potential for our employees to be more involved in
understanding their risk, so they may take proactive steps toward
disease prevention."

"We are pleased to have a company like Metagenics, with its strong
foundation in science and wellness, adopting PerioPredict into its
benefits plan," said Mark Carbeau, chief executive officer of
Interleukin.  "This agreement is a clear step forward in
Interleukin's commercialization of PerioPredict.  We believe that
PerioPredict offers the potential to improve outcomes for patients
and ultimately to reduce long-term healthcare expenses associated
with oral health and with chronic inflammatory conditions related
to oral health.  We look forward to continuing to expand access to
this important genetic test."

Elevated systemic inflammation levels are implicated in development
and complications of numerous chronic diseases, such as heart
attack, stroke, and type 2 diabetes.  Severe periodontitis is one
of the most common causes of increased systemic inflammation and is
implicated as a risk factor for several other diseases.  Preventive
dental care can lower a patient's systemic inflammatory burden.
Treatment of periodontitis has been associated with substantial
medical cost savings for patients with certain chronic diseases.

PerioPredict will be used to help identify individuals who will
benefit from enhanced dental care to prevent and treat
periodontitis as an access point to reduce their systemic
inflammatory burden.

                         About Interleukin

Waltham, Mass.-based Interleukin Genetics, Inc., is a personalized
health company that develops unique genetic tests to provide
information to better manage health and specific health risks.

As of Sept. 30, 2015, the Company had $7.90 million in total
assets, $8.74 million in total liabilities and a total
stockholders' deficit of $845,000.

Grant Thornton LLP, in Boston, Massachusetts, issued a "going
concern" qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has incurred recurring losses from operations and has an
accumulated deficit that raise substantial doubt about the
Company's ability to continue as a going concern.


INTERNATIONAL TECHNICAL: Can Use Cash Collateral Until April 29
---------------------------------------------------------------
Judge Madeleine C. Wanslee on Jan. 27, 2016, entered a final order
authorizing International Technical Coatings, Inc., to use cash
collateral until April 29, 2016, or to a later date if granted an
extension by the lender.

The Debtor sought approval to use cash collateral with the consent
of Bank of America, N.A., and the Official Committee of Unsecured
Creditors.

As of the Petition Date, Bank of America was owed at least
$25,668,213, for loans provided to the Debtor prepetition.  The
loans are secured by valid, perfected and unavoidable liens in all
real and personal property owned by the Debtors and that certain
Lender deposit account opened by Thomas Fisher.

The Debtor previously requested that the Lender consent to the
interim and limited use of Cash Collateral.  The Lender provided
its consent pursuant to the terms of the interim cash collateral
orders.

The Lender has agreed to allow the Debtor to continue using its
Cash Collateral through April 29, 2016, subject to terms and
condition, including the use of cash of cash collateral limited to
the payment of authorized expenses set forth in the budget.

"Unless extended further with the written consent of Lender
(confirmed by the entry of a further order of this Court), the
authorization granted to the Debtor to use Cash Collateral under
this Order shall terminate on the date ("Termination Date") that is
the earliest of: (i) end of business on April 29, 2016; (ii) any
later date Lender agrees upon in writing; (iii) the date upon which
a chapter 11 or chapter 7 trustee is appointed in the Bankruptcy
Case; and (iv) upon the Debtor's breach under any term or provision
of this Order. Notwithstanding any such termination, the rights and
obligations of the Debtor and the rights, claims, liens,
priorities, and other benefits and protections afforded to Lender
under this Order shall remain unimpaired and unaffected by any such
termination, and shall survive any such termination," according to
the Final Cash Collateral Order.

As adequate protection, the Lender will receive replacement liens,
and super-priority claims.

The Final Cash Collateral gives the Official Committee of Unsecured
Creditors to challenge the stipulations in the Cash Collateral
Order.

"No later than the first business day that is forty-five (45) days
after the date of entry of this Order (the "Lookback Period") the
Committee may notify Lender in writing, object to, challenge, or
seek to avoid the amount, validity, priority, or enforceability of
the Prepetition Indebtedness or Lender's liens in the Collateral
securing the Prepetition Indebtedness," according to the Jan. 27,
2016 Final Cash Collateral Order.

A copy of the Final Cash Collateral Order, including the budget, is
available for free at:

    http://bankrupt.com/misc/ITC_182_Final_Cash_Ord.pdf

                   About International Technical

International Technical Coatings, Inc. is a Phoenix, Arizona-based
steel wire manufacturer.  It has facilities located in Phoenix,
Arizona and Columbus, Ohio.

ITC filed a Chapter 11 bankruptcy petition (Bank. D. Ariz. Case No.
15-14709) on Nov. 18, 2015.  John Caldwel, the chairman, signed the
petition.  Judge Madeleine C. Wanslee is assigned the case.

The Debtor estimated assets of $50 million to $100 million and
liabilities of more than $10 million.  

Osborn Maledon, P.A., is counsel to the Debtor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Stinson Leonard Street,
LLP represents the committee.


INTERNATIONAL TECHNICAL: ITCM Should Be in Ch. 11, Says Committee
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors formed in the Chapter
11 case of International Technical Coatings, Inc. ("ITC") is asking
the U.S. Bankruptcy Court for the District of Arizona to compel ITC
to commence a voluntary Chapter 11 proceeding for wholly owned
non-debtor subsidiary ITC Manufacturing, LLC ("ITCM").

The Debtor filed its schedules and statement on Dec. 9, 2015.

According to the Committee, the Debtor's schedules and statements
contained significant errors and the Debtor filed amended schedules
and statements on Dec. 23, 2015.

Specifically, the Committee points out that the Debtor's amended
statement and schedules disclose that in the two years prior to the
Petition Date, the Debtor's principals siphoned off over $3,394,598
from the Debtor's estate.  The Debtor has offered no legitimate
business purpose for these transfers.

The Debtor's amended statement and schedules state that ITC
Manufacturing, LLC, an Ohio limited liability company ("ITCM") is a
wholly owned subsidiary of the Debtor and lists the value of equity
of ITC Manufacturing, LLC as $4,211,087.

According to the Debtor, ITCM has only $3,352,518 of secured debt.


The Committee avers that it is undisputed that ITCM, owns the land,
a building and fixtures existing at the Debtor's Ohio facility.
The Committee believes that ITCM holds additional equipment and
personal property.

Pursuant to his testimony at the 11 U.S.C. Sec. 341 hearing, Mr.
Gole places the value of the land and assets held by ITCM at
between $17,000,000 and $20,000,000.  This figure is confirmed and
exceeded by the most recent audited financial statements available
for the Debtor, the 2013 audited financial statements (the "Audited
Financial Statements"), which lists the value of the assets held by
ITCM at $20,287,142.

The Debtor lists $3,352,518 of secured obligations against the
assets of ITCM, placing approximately $16,934,624 of unencumbered
assets outside of the supervision of the Court.

Perhaps more importantly, the Debtor has listed essentially all
creditors (including the secured debt of ITCM, of which the Debtor
is a co-obligor, and all unsecured trade debt, including those
creditors that did business with ITCM) as liabilities of its
bankruptcy estate.  Hence, all the liabilities are liabilities of
this estate, yet nearly $17 million in assets are kept from the
formal jurisdiction of the Bankruptcy Court.

The Audited Financial Statements state that ITCM holds $20,287,142
in property and equipment, while the Debtor holds only $9,628,576
in property and equipment.  Note 4 of the Audited Financial
Statements shows the combined value of Land ($1,871,205), Buildings
($4,326,567) and Manufacturing Machinery and Equipment
($23,022,599) held by the Debtor and ITCM on a consolidated basis.
Since ITCM holds a reported $20,287,142 of such assets, simple math
dictates that ITCM's property necessarily includes millions of
dollars in Manufacturing Machinery and Equipment.  Further, the
Audited Financial Statements demonstrate that ITCM holds its own
inventory ($4,189,248), has its own sales ($21,884,378) pays wages
and has its own distinct set of creditors.

Parties, including unsecured creditors, doing business with the
Ohio facility are conducting business with an entity identified as
"ITC Manufacturing, LLC" or simply "ITC Manufacturing".  Those
creditors are all listed as creditors of the Debtor.

The Committee notes that ITC Manufacturing is not a registered DBA
of International Technical Coatings and parties doing business with
"ITC Manufacturing" at the Ohio facility reasonably understand they
are doing business with ITC Manufacturing, LLC, an Ohio limited
liability company.  Further, ITCM is the contracting party for
numerous equipment leases and contracts, including not less than
seven equipment leases between Toyota Motor Credit Corporation and
"ITC Manufacturing, LLC".  Those executory contracts are all listed
as contracts of the Debtor.

ITCM is a separate entity from the Debtor with distinct operations,
leases, agreements, assets and creditors. Interestingly, the Debtor
has listed all of the liabilities of ITCM as obligations of the
estate while keeping all of the assets of ITCM outside the
jurisdiction of this Court.  Hence, the Debtor is using its Chapter
11 proceeding to deal with creditors of a wholly owned subsidiary,
but will not put the assets of that subsidiary before the formal
jurisdiction of the Court, the Committee avers.

According to the Committee, the Debtor has taken certain actions
that cause the Committee serious concern, and make the subject of
this motion more immediate.  Besides the lack of transparency in
its financial records, after the Petition Date and without notice
to or authority from this Court, the Debtor attempted to sell its
Schlatter MG911 machine for an estimated $385,000.  Counsel for the
Committee contacted Mark Haba, President and CEO of Gavlick
Machinery Corporation and prevented the sale.  It is unclear
whether the equipment in question is titled in Debtor or ITCM.
Among other things, the Committee seeks to prevent any future
alienation or encumbrance of the assets of ITCM.  In any event, the
sale of such an asset outside the supervision of the Bankruptcy
Court causes the Committee grave concern.

The Committee has formally asked counsel for the Debtor to file
ITCM into bankruptcy (to be jointly administered with this case),
and explained its reasoning behind it.  On Jan. 26, 2016, the
Debtor unequivocally agreed to place ITCM in bankruptcy, but has
failed to fulfill that agreement.

In its Motion filed Feb. 1, 2016, the Committee asks that the Court
enter an Order Directing the Debtor to commence a voluntary Chapter
11 proceeding for ITCM immediately, which proceeding should be
jointly administered with the Debtor's pending proceeding.

Attorneys for the Official Committee of Unsecured Creditors:

         Thomas J. Salerno
         Christopher C. Simpson
         STINSON LEONARD STREET LLP
         1850 N. Central Avenue, Suite 2100
         Phoenix, AZ 85004-4584
         Tel: (602) 279-1600
         Fax: (602) 240-6925
         E-mail: Thomas.salerno@stinson.com
                 Christopher.simpson@stinson.com

                   About International Technical

International Technical Coatings, Inc. is a Phoenix, Arizona-based
steel wire manufacturer.  It has facilities located in Phoenix,
Arizona and Columbus, Ohio.

ITC filed a Chapter 11 bankruptcy petition (Bank. D. Ariz. Case No.
15-14709) on Nov. 18, 2015.  John Caldwel, the chairman, signed the
petition.  Judge Madeleine C. Wanslee is assigned the case.

The Debtor estimated assets of $50 million to $100 million and
liabilities of more than $10 million.  

Osborn Maledon, P.A., is counsel to the Debtor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Stinson Leonard Street,
LLP represents the committee.


INTERNATIONAL TECHNICAL: Panel Taps Carmel as Conflicts Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors formed in the Chapter
11 case of International Technical Coatings, Inc. ("ITC") filed
with the U.S. Bankruptcy Court for the District of Arizona an
application to retain Michael W. Carmel, Ltd., as conflicts
counsel.

Michael W. Carmel, the principal, is the sole attorney associated
with the Carmel Firm.  Mr. Carmel has practiced in the area of
bankruptcy and restructuring for more than 30 years and has
frequently represented debtors and trustees in chapter 11 cases in
Arizona.

The Carmel Firm has arranged to represent the Committee as
conflicts counsel with respect to matters relating to Bank of
America, N.A., and such other matters for which the Committee may
require conflicts counsel.

The Carmel Firm will charge for professional fees at hourly rates
customarily charged by the Carmel Firm for the services of the
professionals involved, and will seek reimbursement for costs and
expenses incurred in representing the Committee.  Mr. Carmel will
charge $550 per hour.

The Carmel Firm has received no an advance retainer from the
Committee in the Chapter 11 case.

Mr. Carmel attests that his firm does not represent or hold any
interest adverse to the Debtor, the Committee, or the estate with
respect to the matters on which the firm is to be employed.

The firm can be reached at:

         Michael Carmel, Esq.
         LAW OFFICES OF MICHAEL W. CARMEL, LTD
         80 East Columbus Avenue
         Phoenix, AZ 85012-2334
         Tel: (602) 264-4965
         E-mail: michael@mcarmellaw.com

                   About International Technical

International Technical Coatings, Inc. is a Phoenix, Arizona-based
steel wire manufacturer.  It has facilities located in Phoenix,
Arizona and Columbus, Ohio.

ITC filed a Chapter 11 bankruptcy petition (Bank. D. Ariz. Case No.
15-14709) on Nov. 18, 2015.  John Caldwel, the chairman, signed the
petition.  Judge Madeleine C. Wanslee is assigned the case.

The Debtor estimated assets of $50 million to $100 million and
liabilities of more than $10 million.  

Osborn Maledon, P.A., is counsel to the Debtor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Stinson Leonard Street,
LLP represents the committee.


ISTAR INC: Announces Prelim. Q4 and Fiscal Year 2015 Results
------------------------------------------------------------
iStar Inc. disclosed it expects to report adjusted income per
diluted common share of $0.32 - $0.36 for the fourth quarter and
$0.79 - $0.83 for the fiscal year.  The Company expects to report
net income (loss) per diluted common share of $0.07 - $0.11 for the
fourth quarter and $(0.64) - $(0.60) for the fiscal year.

Additionally, the Board of Directors has approved a new $50 million
stock repurchase program.  The Company has used all of the
availability under its previous $50 million stock repurchase
program which was authorized by the Board on Dec. 21, 2015.

The Company currently has approximately $660 million of
unrestricted cash on hand.

The Company plans to release its full financial results for the
fourth quarter and fiscal year 2015 on Thursday, Feb. 25, 2016,
prior to the opening of the market, and will host an earnings
conference call reviewing those results and its operations
beginning at 10:00 a.m. ET the same day.  This conference call will
be broadcast live over the internet and can be accessed by all
interested parties through iStar's Web site, www.istar.com, in the
"Investors" section.  To listen to the live call, please go to the
Web site at least 15 minutes prior to the start of the call to
register and download any necessary audio software. For those who
are not able to listen to the live broadcast, a replay will be
available shortly after the call on the Web site.

                       About iStar Inc.

New York-based iStar Inc., formerly known as 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 reported a net loss allocable to common
shareholders of $33.72 million in 2014, a net loss allocable to
common shareholders of $155.76 million in 2013 and a net loss
allocable to common shareholders of $272.99 million in 2012.

As of Sept. 30, 2015, the Company had $5.64 billion in total
assets, $4.48 billion in total liabilities, $11.6 million in
redeemable noncontrolling interests and $1.14 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.


ITUS CORP: Incurs $1.59 Million Net Loss in First Quarter
---------------------------------------------------------
ITUS Corporation filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $1.59
million on $0 of revenue for the three months ended Jan. 31, 2016,
compared to net income of $3.75 million on $9.13 million of total
revenue for the same period in 2015.

As of Jan. 31, 2016, the Company had $8.64 million in total assets,
$5.05 million in total liabilities and $3.59 million in total
shareholders' equity.

"Based on currently available information as of February 19, 2016,
we believe that our existing cash, cash equivalents, short-term
investments and expected cash flows will be sufficient to enable us
to continue our business activities for at least 12 months.
However, our projections of future cash needs and cash flows may
differ from actual results.  If current cash on hand, cash
equivalents, short term investments and cash that may be generated
from our business operations are insufficient to satisfy our
liquidity requirements, we may seek to sell equity securities or
obtain loans from various financial institutions where possible.
The sale of additional equity securities or convertible debt could
result in dilution to our stockholders.  Additionally, the sale of
equity securities or issuance of debt securities may be subject to
certain security holder approvals or may result in downward
adjustment of the exercise or conversion price of our outstanding
securities.  We can give no assurance that we will generate
sufficient cash flows in the future to satisfy our liquidity
requirements or sustain future operations, or that other sources of
funding, such as sales of equity or debt, would be available or
would be approved by our security holders, if needed, on favorable
terms or at all.  If we cannot obtain such funding if needed or if
we cannot sufficiently reduce operating expenses, we would need to
curtail or cease some or all of our operations," the Company stated
in the report.

A full-text copy of the Form 10-Q is available for free at:

                     http://is.gd/d0zx19

                    About ITUS Corporation

ITUS Corp. -- http://www.ITUScorp.com/-- develops and acquires
patented technologies for the purposes of patent monetization and
patent assertion.  The company currently has 10 patent portfolios
in the areas of Key Based Web Conferencing Encryption, Encrypted
Cellular Communications, E-Paper(R) Electrophoretic Display, Nano
Field Emission Display ("nFED"), Micro Electro Mechanical Systems
Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window
Frame Construction, VPN Multicast Communications, Internet
Telephonic Gateway, and Enhanced Auction Technologies.

CopyTele changed its name to "ITUS Corporation" on Sept. 2, 2014,
to reflect the Company's change in its business operations.

ITUS Corporation reported a net loss of $1.37 million on $9.25
million of total revenue for the year ended Oct. 31, 2015, compared
to a net loss of $9.60 million on $3.66 million
of total revenue for the year ended Oct. 31, 2014.


KEVIN CLOUGHERTY: App. Court Affirms Order Denying Custody Changes
------------------------------------------------------------------
On February 23, 2012, defendant Kevin Clougherty filed the motion
for modification of custody, claiming that there had been a
material change in circumstances and that it was in the best
interests of the child to modify the custody order.

On July 12, 2012, the court ruled on a number of motions filed by
plaintiff Leticia Clougherty.  The judge awarded her $15,000 in
attorney's fees to defend the defendant's motion for modification
of custody.  On December 12, 2013, the plaintiff moved for
additional attorney's fees, stating that she had exhausted the
initial award of $15,000.  She filed an affidavit of attorney's
fees on April 14, 2014, seeking an additional $22,003.

The court issued a memorandum of decision on May 5, 2014, finding
that there was no material change in circumstances warranting a
change of physical custody, and therefore denied the defendant's
motion to modify custody.  The court also denied the plaintiff's
December 12, 2013 motion for additional attorney's fees.  The
defendant's appeal and the plaintiff's cross-appeal followed and
were consolidated.

The defendant claims that the court abused its discretion when
denying his post-dissolution motion to modify custody in finding
that no material change in circumstances had occurred since the
dissolution of the marriage, arguing that the child is not thriving
with the plaintiff, and suggesting that they are no longer enjoying
a "rich and wonderful life" in Texas.  He sought to demonstrate
this in the trial court by providing a litany of the plaintiff's
economic misfortunes and examples of when she purportedly had been
inattentive as a parent to the child's welfare and academic needs.
He raises the same arguments on appeal.

The plaintiff claims that the court abused its discretion in
denying her motion for additional attorney's fees to defend the
defendant's motion for modification of custody on the ground that
it would be inequitable in light of the defendant's child support
and visitation expenses.

The defendant submitted his financial affidavit, in which he
indicated that he spends more than $50,000 annually to fulfill his
parenting obligations in Texas, which includes renting a second
residence in Houston and significant travel costs.

In a Decision dated February 9, 2016, which is available at
http://is.gd/qNf0no from Leagle.com, the Appellate Court of
Connecticut affirmed the judgment of the trial court.

The case is LETICIA CLOUGHERTY, v. KEVIN CLOUGHERTY, (AC 36886),
(AC 36887).

William H. Cashman, Esq. , for the appellant-appellee (defendant).

Kenneth J. McDonnell, Esq., for the appellee-appellant
(plaintiff).

Paige S. Quilliam, guardian ad litem, for the minor child.


KGIC INC: Enters Into Amended & Restated Forbearance Agreement
--------------------------------------------------------------
KGIC Inc. on Feb. 17 provided an update to shareholders on the
following key matters affecting the Company:

The Company has entered into an amended and restated forbearance
agreement with the Bank of Montreal ("BMO"), a copy of which is
available on SEDAR at www.sedar.com (the "Amended Forbearance
Agreement").  The Amended Forbearance Agreement requires the
Company to exercise all avenues of liquidity in order to meet its
obligations to BMO.  In connection therewith, the board of
directors of the Company has initiated a review of strategic
alternatives to determine the best course to satisfy the Company's
obligations under the Amended Forbearance Agreement and to enhance
the Company's value.  G.S. MacLeod & Associates Inc. has been
retained to act as exclusive financial advisor to the Company in
connection therewith. Strategic alternatives could include a
reorganization of capital or the sale of all or some of the assets
of the Company.  There can be no assurance that this strategic
review process will result in the completion of any transaction or
other alternative.  The Company does not intend to comment further
regarding the review process unless a specific transaction or other
alternative is approved by the board of directors, the review
process is concluded or it is otherwise determined that further
disclosure is appropriate or required by law.  The Company will
continue to operate in the ordinary course during this review
process.

BMO has advised the Company that it is supportive of the Company's
approach in this regard.  In connection therewith, the Company has
entered into an amended and restated credit agreement with BMO, a
copy of which is available on SEDAR at www.sedar.com (the "Amended
Credit Agreement").  Under the terms of the Amended Credit
Agreement, BMO has agreed to provide the Company with a
discretionary, non-revolving demand credit facility in the amount
of up to $3,000,000 (the "Facility").  Each advance under the
Facility is at the discretion of BMO.  The Facility may be used by
the Company only for working capital and general corporate
purposes.  Subject to the terms of the Amended Credit Agreement,
the Company shall only be entitled to obtain advances under the
Facility until April 22, 2016.  All advances will bear interest at
BMO's prime rate plus 3.75% per annum.

The Company has elected to not proceed with its previously
announced preferred share offering and will instead explore the
possibility of a debt offering as part of the strategic review
process noted above.  There can be no assurance that any such
offering will be completed.

The Company has made a continued effort to stabilize its school
campuses and improve on reporting and operating standards and
enrollment.

                        About KGIC Inc.

KGIC owns and operates private English as a Second Language (ESL)
Schools, Career Colleges and Community Colleges in Toronto,
Vancouver and Victoria.


KU6 MEDIA: Gets Additional Staff Determination Letter from NASDAQ
-----------------------------------------------------------------
Ku6 Media Co., Ltd. announced that it has received a determination
letter from The NASDAQ Stock Market LLC dated Feb. 17, 2016,
indicating that the Company has failed to regain compliance with
the US$1 minimum bid price requirement under NASDAQ Listing Rule
5450(a)(1).  The Company was first notified by NASDAQ that it
failed to comply with the MBP Rule on Aug. 18, 2015.  In accordance
with NASDAQ Listing Rules 5810(c)(3)(A), the Company was provided
180 calendar days, or until Feb. 16, 2016, to regain compliance
with the MBP Rule.

As previously announced by the Company, on Feb. 10, 2016, it
received a determination letter from NASDAQ, indicating that the
Company had also failed to regain compliance with the US$50,000,000
minimum market value requirement under NASDAQ Listing Rule
5450(b)(2)(A) and the US$15,000,000 minimum market value of
publicly held securities requirement under NASDAQ Listing Rule
5450(b)(2)(C).

The Company has appealed NASDAQ's delisting determination with
respect to the MVLS Rule and the MVPHS Rule by requesting a hearing
before a Hearing Panel.  The filing of that request stays delisting
of the Company's American Depositary Shares pending the Hearing
Panel's determination.  NASDAQ has notified the Company that the
Hearing Panel will consider its failure to regain compliance with
respect to the MBP Rule at the hearing.  During the appeal process,
the Company's American Depositary Shares will continue to trade on
The Nasdaq Global Market.  The Company said there is no assurance
that the Hearing Panel will grant its request for continued
listing.

                      About Ku6 Media

Ku6 Media Co., Ltd. -- http://ir.ku6.com/-- is an Internet video
company in China focused on User-Generated Content.  Through its
premier online brand and online video Web site --
http://www.ku6.com/-- Ku6 Media provides online video uploading
and sharing service, video reports, information and entertainment
in China.

As of Dec. 31, 2015, the Company had $9.01 million in total assets,
$14.31 million in total liabilities and a $5.29 million total
shareholders' deficit.

PricewaterhouseCoopers Zhong Tian LLP, in Shanghai, the People's
Republic of China, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company's recurring losses, negative working
capital, net cash outflows, and uncertainties associated with
significant changes made, or planned to be made, in respect of the
Company's business model, raise substantial doubt about the
Company's ability to continue as a going concern.


KU6 MEDIA: To Appeal NASDAQ's Delisting Determination
-----------------------------------------------------
Ku6 Media Co., Ltd., has received a determination letter from The
NASDAQ Stock Market LLC dated Feb. 10, 2016, indicating that the
Company has failed to regain compliance with the US$50,000,000
minimum market value requirement under NASDAQ Listing Rule
5450(b)(2)(A) and the US$15,000,000 minimum market value of
publicly held securities requirement under NASDAQ Listing Rule
5450(b)(2)(C). The Company was first notified by NASDAQ that it
failed to comply with the MVLS Rule and the MVPHS Rule on Aug. 13,
2015.  In accordance with NASDAQ Listing Rules 5810(c)(3)(C) and
5810(c)(3)(D), the Company was provided 180 calendar days, or until
Feb. 9, 2016, to regain compliance with the MVLS Rule and the MVPHS
Rule.

NASDAQ has indicated that the Company's American Depositary Shares
will be delisted from The Nasdaq Global Market unless the Company
appeals NASDAQ's determination to a Hearing Panel.  The Company
intends to request a hearing to appeal NASDAQ's determination.  If
the Company appeals NASDAQ's determination, the Company's American
Depositary Shares will continue to trade on The Nasdaq Global
Market during the appeal process.  The Comapny said there is no
assurance that the Hearing Panel will grant the Company's request
for continued listing.

                         About Ku6 Media

Ku6 Media Co., Ltd. -- http://ir.ku6.com/-- is an Internet video
company in China focused on User-Generated Content.  Through its
premier online brand and online video Web site --
http://www.ku6.com/-- Ku6 Media provides online video uploading
and sharing service, video reports, information and entertainment
in China.

As of Dec. 31, 2015, the Company had $9.01 million in total assets,
$14.31 million in total liabilities and a $5.29 million total
shareholders' deficit.

PricewaterhouseCoopers Zhong Tian LLP, in Shanghai, the People's
Republic of China, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company's recurring losses, negative working
capital, net cash outflows, and uncertainties associated with
significant changes made, or planned to be made, in respect of the
Company's business model, raise substantial doubt about the
Company's ability to continue as a going concern.


LEAR CORP: Moody's Affirms 'Ba1' CFR & Alters Outlook to Positive
-----------------------------------------------------------------
Moody's Investors Service revised the rating outlook of Lear
Corporation to positive from stable, and affirmed Lear's debt
ratings including the Corporate Family and unsecured notes at Ba1.
The Speculative Grade Liquidity Rating is SGL-1.

Outlook Actions:

Issuer: Lear Corporation

-- Outlook, Changed To Positive From Stable

Affirmations:

Issuer: Lear Corporation

-- Corporate Family Rating, Affirmed Ba1

-- Probability of Default Rating, Affirmed Ba1-PD

-- Speculative Grade Liquidity Rating, Affirmed SGL-1

-- Senior Unsecured Shelf, Affirmed at (P)Ba1

-- Senior Unsecured Regular Bond/Debenture due 2025, Affirmed Ba1

    (LGD4)

-- Senior Unsecured Regular Bond/Debenture due 2023, Affirmed Ba1

    (LGD4)

-- Senior Unsecured Regular Bond/Debenture due 2024, Affirmed Ba1

    (LGD4)

The bank credit facilities are not rated by Moody's.

RATINGS RATIONALE

The positive rating outlook incorporates the expectation that
Lear's already comparatively strong credit metrics will gradually
improve through 2017. This is supported by continued positive
demand trends, albeit at lower levels than over the recent years,
in the major markets which include North America (43% of net sales
in 2015) and Europe and South Africa (37%). Overall EBITA margins
have improved to 6.9% for the quarter ending December 31, 2015
(inclusive of Moody's adjustments) from 5.1% in the prior year
quarter, a trend expected to continue. Profit margins also should
gradually improve with further integration of the $844 million
purchase of Eagle Ottawa in January 2015.

Strong profit margins within the automotive parts supplier industry
are typically reflective of technologically advanced products
related to, among others, occupant safety, emissions control, and
electronic content and connectivity. Moody's believes that more
meaningful incremental margin improvement is likely to come from
strategic acquisitions. As such, strategic acquisitions will likely
support Lear's electronics segment and better position the company
as a supplier of products enabling increasing vehicle content in
the areas of connectivity, and vehicle safety.

Lear's Ba1 Corporate Family Rating reflects the company's leading
position as a supplier of seating and electrical power systems in
the automotive industry. Lear continues to have significant
customer concentrations with the top three customers (GM, Ford, and
BMW) representing 53% of net sales in 2015. While the operations of
Lear's largest North America customers continue to improve, this
exposure constrains the company's growth opportunities to a narrow
group of automotive platforms. As lower fuel prices have supported
light truck demand, Lear's improving margins in 2015 were supported
with net sales split evenly between 50% cars and 50% light trucks.

The SGL-1 Speculative Grade Liquidity Rating anticipates a very
good liquidity profile over the next twelve months supported by
strong cash balances, positive free cash flow generation, and
availability under the $1.25 billion revolving credit facility. As
of December 31, 2015 Lear had approximately $1.2 billion of cash
and cash equivalents and the revolving credit facility was
unfunded. Financial covenants under the credit facilities include a
debt leverage test and an interest coverage test. The test levels
of these covenants are expected to have ample headroom over the
next twelve months. Moody's anticipates that Lear will continue to
generate positive free cash flow over the near-term supportive of
additional acquisitions and/or shareholder returns.

Moody's believes a key driver to the operating flexibility of
automotive parts suppliers is having strong profit margins prior to
deteriorating industry conditions. The ability of Lear to continue
to deliver margin improvement while executing balanced shareholder
returns could support the consideration for a higher rating.

Future events that have the potential to drive Lear's rating higher
include the expectation of EBITA sustained at or above 7%. Lear's
ability to strongly position its long-term strategic offerings
toward products offering higher profit margins could be supportive
of higher ratings. Other considerations for a higher rating include
sustaining Debt/EBITDA under 2.0x and EBITA/Interest coverage,
inclusive of restructuring charges, over 5.5x. These metrics
incorporate executing organic and acquisitive growth initiatives
and executing balanced shareholder return policies.

Future events that have the potential to drive Lear's outlook or
rating lower include indications of a broad deterioration in
automotive industry conditions including significant macroeconomic
weakness in one or more of the company's geographic markets; a
deterioration in the credit quality or market position of any of
Lear's major customers; logistical industry disruptions which
impact Lear's ability to deliver products to customers; or
acquisitions or shareholder return initiatives that are transacted
in a more aggressive fashion than has been demonstrated by the
company. Lear's outlook or rating also could be lowered if EBITA
margins deteriorate below 4.5%, EBITA/Interest approaches 4.5x,
Debt/EBITDA increases to over 2.5x, or if the company's liquidity
profile deteriorates as a result of deteriorating free cash flow
generation, lower cash balances, or the inability to access
committed availability under the revolving credit facility.

Lear Corporation, headquartered in Southfield, MI, is one of the
world's leading suppliers of automotive seating and electrical
power management systems. The company had net sales of $18.2
billion for the year ending 2015.


LEXARIA CORP: Proposes to Change Name to Lexaria Bioscience Corp
----------------------------------------------------------------
Lexaria, Corp. disclosed that at the Annual General Meeting
expected to be held March 23, 2016, the Company proposes to change
its name to Lexaria Bioscience Corp.

The Company has had its current name since 2004 but has undergone a
remarkable transformation in the last two years to become a
bioscience company with a suite of patents pending in the field of
active molecule delivery through common foods.  This technology has
broad application throughout the food industry with regards to
several beneficial molecules such as common over-the-counter pain
medications as well as vitamins and more.

In December 2015 Lexaria filed two new provisional patent
applications related to the utilization of its food enhancement and
molecule cloaking technology across a broad spectrum of
commercially prepared foods such as many forms of snacks, breads,
baked goods of all kinds, bottled drinks, juices and much more. The
underlying technology was originally uncovered by the PhD
researcher/founder of PoViva Tea LLC investigating methodologies
for improving cannabinoid absorption and has since been
significantly broadened in scope by Lexaria's executive team.

Lexaria's technology allows for near-pharma grade liposomal
encapsulation of payload molecules -- such as acetaminophen,
ibuprofen, cannabinoids and much more -- within "trojan horse"
foods.  The technology greatly improves flavor while simultaneously
enhancing bioabsorption of the payload molecules. In light of the
significant progress made through 2015 and already in 2016 with the
understanding of commercial applications for these scientific
discoveries, the change in name to Lexaria Bioscience Corp. seems
entirely appropriate.

The Company said it has enjoyed a loyal and dedicated shareholder
base and business network whom it believes will wholly embrace the
new proposed name of Lexaria Bioscience Corp.

Lexaria food products are available at www.vipova.com and at
www.lexariaenergyfoods.com

                          About Lexaria

Lexaria Corp. was formed under the laws of the State of Nevada and
commenced operations on Dec. 9, 2004.  The Company is an
independent natural gas and oil company engaged in the exploration,
development and acquisition of oil and gas properties in the United
States and Canada.  The Company's entry into the oil and gas
business began on Feb. 3, 2005.  The Company has offices in
Vancouver and Kelowna, BC, Canada.  Lexaria's shares are quoted in
the USA under the symbol LXRP and in Canada under the symbol LXX.

As of Nov. 30, 2015, Lexaria had $496,118 in total assets, $177,390
in total liabilities and $318,728 in total stockholders' equity.

For the year ended Oct. 31, 2015, the Company reported a net loss
of $1.93 million compared to a net loss of $3.25 million for the
year ended Oct. 31, 2014.


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

      Debtor                                    Case No.
      ------                                    --------
      Louisiana Pellets, Inc.                   16-80162
      4915 Highway 125
      Urania, LA 71480

      German Pellets Louisiana, LLC             16-80163
      4915 Highway 125
      Urania, LA 71480

Type of Business: Producers of wood pellets

Chapter 11 Petition Date: February 18, 2016

Court: United States Bankruptcy Court
       Western District of Louisiana (Alexandria)

Judge: Hon. John W. Kolwe

Debtors' Counsel: C. Davin Boldissar, Esq.
                  LOCKE LORD LLP
                  601 Poydras St., Ste. 2660
                  New Orleans, LA 70130
                  Tel: (504) 558-5100
                  Fax: (504) 558-5200
                  Email: dboldissar@lockelord.com

                    - and -

                  Alan H. Katz, Esq.
                  LOCKE LORD LLP
                  Brookfield Place
                  200 Vesey Street, 20th Floor
                  New York, NY 10281
                  Tel: (212) 415-8509
                  Fax: (212) 812-8380
                  Email: akatz@lockelord.com

                                       Estimated     Estimated
                                         Assets     Liabilities
                                     -------------  -----------
Louisiana Pellets, Inc.              $100MM-$500MM  $100MM-$500MM
German Pellets Louisiana             $50MM-$100MM   $50MM-$100MM

The petition was signed by Anna-Kathrin Leibold, president and
chief executive officer.

A. List of Debtor's five Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
DKFM Switzerland AB                                    $2,146,361
Spisergasse 12
St. Gallen 9000 Switzerland

LaSalle Parish Sheriff                                    $36,550
P.O. Box 70
Jena, LA 71342

Luminate, LLC                                             $29,925
1801 Broadway, Ste. 1620
Denver, CO 80202-3843

Advantous Consulting, LLC                                 $11,205
9270 Seigen Lane, Ste. 801
Baton Rouge, LA 70810

First Am. Title Insurance Co.                              $3,607
633 Third Ave.
New York, NY 10017

B. List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
TSI Responsible Innovation                             $9,867,292
20818 44th Ave West, Suite 201
Lynwood, WA 98036

Vecoplan AG                                            $6,020,197
Vor der Bitz 10
Bad Marienberg 56470
Germany

Louisiana Dept of Revenue &                            $2,592,550
Taxation
Sale & Use Tax Division
P.O. Box 201
Baton Rouge, LA 70821

CPM Europe B.V.                                        $1,829,917
Rijder 2
Zaandam 1507 DN
Netherlands

Elektro Fischer GmbH                                   $1,409,160
Angerstraße 6
Thanhausen 95671
Germany

Entergy Louisiana, LLC                                 $1,066,622
Attn: Jon Majewski L-JEF-359
4809 Jefferson Hwy.
Jefferson, LA 70821

Kresta Anlagenbau Gesellchaft                            $888,684
m.b.g. & Co. KG
Krestastraße 1
St. Andra, Lavanttal 9433
Austria

Southern Industrial Contractors LLC                      $835,788
158 Industrial Loop
Rayville, LA 71269

Kice Industries, Inc.                                    $689,292
5500 Mill Heights Dr
Wichita, KS 67219

Winn Timber Products, LLC                                $681,752
P.O. Box 1392
WInnfield, LA 71483

James L. Davis Construction                              $375,903
146 Redemption Lane
Ruston, LA 71270

Tank Connection Affiliate Group                          $349,022
3609 N. 16th Street
Parsons, KS 67357

FMW Industrieanlagenbau GmbH                             $346,052
Kirchstetten 100
Kirchstetten 3062
Austria

Wells Fargo Insurance Services USA                       $317,932
6100 Fairview Road, Suite 800
Charlotte, NC 28210

Sparta Innovations, Inc.                                 $295,797
577 Route 535
Notre-Dame, NB E4V 2K4
Canada

Wessel GmbH                                              $294,290
Kessel-und Apparatebau
Hagdornstraße 10
Xanten 46509
Germany

GreCon, Inc.                                             $284,972
15875 SW 74th Avenue
Tigard, OR 97224

Penske Logistics                                         $261,831
P.O. Box 7780-5070
Philadelphia, PA 19182

CLB, LLC                                                 $248,250
921 Hickory Street
Texarkana, AR 71854

Johnny's Roofing & Metal                                 $225,215
Works, Inc.
8361 W Antoine Loop
Shreveport, LA 71129


LUVU BRANDS: Announces Fiscal 2016 Q2 Results
---------------------------------------------
Luvu Brands, Inc., announced net income of $224,392, or $.00 per
diluted share, on record net sales of $4.9 million for the quarter
ended Dec. 31, 2015.

Net sales during the three months ended Dec. 31, 2015, increased
$587,829 or 14% from $4.3 million recorded in the same period last
year.

For the quarter ended Dec. 31, 2015, sales to wholesale customers
increased 21% to $3.3 million from the same quarter last year, due
primarily to higher sales of branded Liberator, Jaxx and Avana
products.

Net sales during the six months ended Dec. 31, 2015, increased to a
record $8.6 million from $7.9 million recorded in the same period
last year, an increase of 9%.

Net sales to wholesale customers during the six months ended
Dec. 31, 2015, increased to $5.8 million from $4.9 million in the
first half of the prior fiscal year, an increase of 17%.  This is
primarily due to increased sales to our larger wholesale customers
including Amazon, Brookstone, Overstock, Target and Wayfair.

During the six months ended Dec. 31, 2015, sales to (and through)
Amazon accounted for 28% of the Company's net sales.

Adjusted EBITDA for the three and six months ended Dec. 31, 2015,
was $412,417 and $360,967, respectively.  For the same periods in
the prior year, Adjusted EBITDA was $376,991 and $448,123,
respectively.

Louis S. Friedman, the Company's founder and chief executive
officer said: "Our results for the quarter and six months
demonstrate a growing acceptance of our branded consumer products,
both through brick-and-mortar retail stores and ecommerce channels.
As evidence of this, sales of Liberator branded products increased
32% during the second quarter from the same period in the prior
year and 19% during the six months ended December 31, 2015 from the
comparable period in 2014."

                         About Luvu Brands

Luvu Brands, Inc., formerly known as Liberator, Inc., is a
U.S.-based manufacturer that has built several brands in the
wellness, lifestyle and casual furniture and seating categories.
Its brands are headquartered in Atlanta in a 140,000 square foot
manufacturing facility.

As of Dec. 31, 2015, the Company had $3.88 million in total assets,
$6.11 million in total liabilities and a total stockholders'
deficit of $2.22 million.

"We incurred a net loss of $222,235 for the three months ended
September 30, 2015 and a net loss of $473,746 for the year ended
June 30, 2015.  As of September 30, 2015, we have an accumulated
deficit of $9,119,722 and a working capital deficit of $1,938,975.
This raises substantial doubt about our ability to continue as a
going concern," the Company stated in its quarterly report for the
period ended Sept. 30, 2015.


MAGNUM HUNTER: Disclosure Statement Hearing Adjourned to Feb. 26
----------------------------------------------------------------
The hearing to consider approval of the Disclosure Statement
explaining Magnum Hunter Resources Corporation's Plan of
Reorganization is further adjourned to February 26, 2016, at 3:00
p.m., Eastern Standard Time.

The Debtors amended their Plan and Disclosure Statement on Feb. 19
to provide, among other things, the result of the negotiations with
the Official Committee of Unsecured Creditors regarding its issues
with the original Plan.  The First Amended Plan is now supported by
the Debtors, the Official Committee of Unsecured Creditors, the
Backstoppers, 100% of the DIP Facility Lenders, approximately
[66.5]% of the Second Lien Lenders, and approximately [79]% of the
Notholders.

As result of a settlement with the Committee, the First Amended
Plan now (a) increases the Unsecured Creditor Cash Pool available
to holders of General Unsecured Claims and (b) gives all holders of
General Unsecured Claims that are not Convenience Claims the right
to select to receive their distributions in either New Common
Equity or Cash.  Unsecured creditors are expected to recover
10.3-49.1% under the First Amended Plan, while holders of
Convenience Claims are expected to recover [50]% under the First
Amended Plan.

The key element of the Plan is the agreement of creditors to
convert their pre- and postpetition funded debt claims, including
the DIP facility claims of up to $200 million, second lien claims
of $336.6 million, and note claims of $600 million, into new common
equity.  Specifically, the DIP Facility Lenders shall receive their
pro rata share of 28.8 percent of the new common equity, the second
lien lenders will receive their Pro Rata share of 36.87 percent of
the New Common Equity, and the Noteholders shall receive their Pro
Rata share of 31.33 percent of the New Common Equity (all of which
is subject to dilution by the Management Incentive Plan).

Moreover, the holders of the equipment and real estate notes with
principal totaling $13.2 million will have their claims
reinstated.

          Equity Holders Object to Disclosure Statement

Equity holders Anthony C. SanGregory, Roger Kent, Scott Miles, and
Randolph A. Barrett, filed separate objections to the approval of
the Disclosure Statement, all asserting that the Disclosure
Statement and the Plan should not be approved because they proposed
to wipe out the shareholders' equity.

Objections to approval of the Disclosure Statement were previously
filed by (a) Continuum Midstream, L.L.C., and Continuum Energy
Services, L.L.C., and (b) Kanbar Spirits, Inc., and the Maurice S.
Kanbar Revocable Trust under agreement dated June 7, 2001.  Another
objection was filed by Arjun S. Rautela, who is acting pro se, and
wants an equity committee to evaluate the inconsistent asset values
presented by the Debtors.

A blacklined version of the First Amended Disclosure Statement is
available at http://bankrupt.com/misc/MAGNUMds0219.pdf

                        About Magnum Hunter

Magnum Hunter Resources Corporation is an oil and gas company
headquartered in Irving, Texas that primarily is engaged in the
acquisition, development, and production of oil and natural gas
reserves in the United States.  MHRC and its affiliates own
interests in approximately 431,643 net acres in total and have
proved reserves with an industry value of approximately $234.5
million as of December 31, 2015.  In the aggregate, MHRC generated
approximately $391.5 million in revenue from their operations in
2014 and generated approximately $169.3 million in revenues from
their operations for the ten months ended October 31, 2015.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petitions were signed by Gary
C. Evans as chairman and chief executive officer.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.

As of Sept. 30, 2015, the Debtors reported approximately $1.1
billion in total liabilities, as well as $416.3 million in stated
value of preferred stock.  The Debtors' significant funded debt
obligations include: (a) approximately $70 million in principal
amount of obligations under the Debtors' Bridge Financing Facility;
(b) approximately $336.6 million in principal amount of obligations
under the Debtors' second lien credit agreement; (c) approximately
$13.2 million in principal amount of Equipment and Real Estate
Notes; and (d) approximately $600 million in principal amount of
Notes.


MARINA BIOTECH: To Explore Alternatives, Mulls Possible Sale
------------------------------------------------------------
Marina Biotech, Inc., announced that its Board of Directors has
authorized a process to explore a range of strategic alternatives
to enhance shareholder value.  

"The Board of Directors for Marina has determined that it is in the
best interest of its shareholders to consider itself a possible
acquisition target to a strategic company that possesses the
necessary resources to invest in and capitalize on the significant
potential of Marina's proprietary delivery technologies, novel
chemistries and rare disease pipeline," stated Joseph W. Ramelli,
chair of the independent Special Committee of the Board.  "The
Board of Directors believe that this may be the most advantageous
path to advance the Company's IP and assets, and has appointed an
independent Special Committee whose scope includes possible mergers
and acquisitions of the Company."

"The Company continues to focus on closing near-term business
development transactions to ensure that we have multiple options
moving forward," stated J. Michael French, president and CEO of
Marina Biotech.  "As we explore all alternatives, it is imperative
that we consider ourselves a potential acquisition target as our
capabilities are complementary and synergistic with several other
biotechnology companies."

The Company has retained Objective Capital Partners, LLC as its
exclusive advisor to assist the Company in exploring such
alternatives.  The Company's independent Special Committee will
oversee this process so that management can continue to execute the
Company's ongoing initiatives and operations and bolster the
position of its brand and business.  The Company stated that there
can be no assurance that the exploration of strategic alternatives
will result in any transaction being entered into or consummated.
The Company has not set a timetable for completion of this process
unless or until the Board has approved a definitive course of
action.

                     About Marina Biotech

Marina Biotech, Inc., headquartered in Bothell, Washington, is a
biotechnology company focused on the discovery, development and
commercialization of nucleic acid-based therapies utilizing gene
silencing approaches such as RNA interference ("RNAi") and
blocking messenger RNA ("mRNA") translation.  The Company's goal
is to improve human health through the development, either through
its own efforts or those of its collaboration partners and
licensees, of these nucleic acid-based therapeutics as well as the
delivery technologies that together provide superior treatment
options for patients.  The Company has multiple proprietary
technologies integrated into a broad nucleic acid-based drug
discovery platform, with the capability to deliver novel nucleic
acid-based therapeutics via systemic, local and oral
administration to target a wide range of human diseases, based on
the unique characteristics of the cells and organs involved in
each disease.

On June 1, 2012, the Company announced that, due to its financial
condition, it had implemented a furlough of approximately 90% of
its employees and ceased substantially all day-to-day operations.
Since that time substantially all of the furloughed employees have
been terminated.  As of Sept. 30, 2012, the Company had
approximately 11 remaining employees, including all of its
executive officers, all of whom are either furloughed or working
on reduced salary.  As a result, since June 1, 2012, its internal
research and development efforts have been minimal, pending
receipt of adequate funding.

Marina Biotech reported a net loss of $6.47 million on $500,000 of
license and other revenue for the year ended Dec. 31, 2014,
compared to a net loss of $1.57 million on $2.11 million of license
and other revenue in 2013.

As of Sept. 30, 2015, the Company had $8.12 million in total
assets, $8.52 million in total liabilities and a $400,000 total
stockholders' deficit.

Wolf & Company, P.C., in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing the Company has suffered
recurring losses from operations, has a significant accumulated
deficit and has been unable to raise sufficient capital to fund its
operations through the end of 2015.  This raises substantial doubt
about the Company's ability to continue as a going concern, the
auditors noted.


MCCLATCHY CO: Reduces Debt By $30.8 Million; Gets NYSE Notice
-------------------------------------------------------------
The McClatchy Company announced that it had repurchased $20.8
million in aggregate principal amount of its 5.75% Notes due 2017
and $10 million of its 9.0% Secured Notes due 2022 for a total
$28.8 million plus accrued and unpaid interest in a privately
negotiated transaction.  The company's total post-transaction debt
balance is $906.5 million.

Elaine Lintecum, McClatchy's chief financial officer, said, "As
this transaction demonstrates, we remain committed to reducing debt
and interest and creating leveraged equity returns for our
shareholders.  Our next debt maturity date is in 2017 and is
approximately $35 million, and we have no other maturities due
until the end of 2022.  This manageable maturity runway provides us
with the necessary flexibility to accomplish our operational goals
and objectives."

The Company also announced today that on Feb. 16, 2016, it received
a notice from the New York Stock Exchange that the Company's common
stock is not in compliance with the NYSE's continued listing
standard which requires that the average closing price of a listed
company's common stock remain above $1.00 per share, calculated
over a period of consecutive 30 trading-days. The NYSE notification
does not affect the Company's business operations or its Securities
and Exchange Commission reporting requirements and does not
conflict with or cause an event of default under any of the
Company's material debt agreements.

Under the NYSE standards, the Company can regain compliance if,
during the six-month period following receipt of the NYSE notice,
on the last trading-day of any calendar month, the Company's common
stock has a closing price per share and a 30 trading-day average
closing share price of at least $1.00.

The Company intends to cure the price deficiency and return to
compliance with the NYSE continued listing requirement within the
applicable cure period.  As required by the NYSE, the Company will
notify the NYSE of its intent to cure.  During this period, the
Company's common stock will continue to be traded on the NYSE,
subject to compliance with other continued NYSE listing
requirements.

                 About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer,
and The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

McClatchy Co reported net income of $374 million on $1.14 billion
of net revenues for the year ended Dec. 28, 2014, compared with net
income of $18.8 million on $1.21 billion of net revenues for the
year ended Dec. 29, 2013.

As of Sept. 27, 2015, the Company had $1.95 billion in total
assets, $1.74 billion in total liabilities and $202 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.


MGM RESORTS: Incurs $1.47 Billion Net Loss in Fourth Quarter
------------------------------------------------------------
MGM Resorts International reported a net loss of $1.47 billion on
$2.19 billion of revenues for the three months ended Dec. 31, 2015,
compared to a net loss of $287.47 million on $2.38 billion of
revenues for the same period in 2014.

For the 12 months ended Dec. 31, 2015, the Company reported a net
loss of $1.03 billion on $9.19 billion of revenues compared to net
income of $127.17 million on $10.08 billion of revenues for the 12
months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $25.21 billion in total
assets, $17.45 billion in total liabilities and $7.76 billion in
total stockholders' equity.

"Our strong fourth quarter domestic results culminated a very
successful 2015.  MGM Resorts continues to excel both in Las Vegas
and at our market-leading regional resorts, with our wholly owned
domestic Adjusted Property EBITDA up 15% in the quarter and 11% in
the year," said Jim Murren, chairman & CEO of MGM Resorts
International.  "We remain focused on driving profitability
throughout our existing portfolio.  We are ahead of pace with our
Profit Growth Plan and are well on our way to reaching our 30%
margin target by 2017.  This year is a particularly exciting year
for MGM Resorts with the completion of the expansion at the
Mandalay Bay Convention Center, as well as the grand openings of
the T-Mobile Arena and MGM National Harbor.  These targeted growth
investments, combined with the increased profitability at our
existing operations, establish a platform for sustainable,
long-term growth."

On Feb. 18, 2016, as part of its regular dividend policy, MGM
China's Board of Directors announced it will recommend a final
dividend for 2015 of $46 million to MGM China shareholders subject
to approval at the MGM China 2016 annual shareholders meeting to be
held in May, bringing the total 2015 dividend to $122 million
including the interim dividend paid in August.  If approved, MGM
Resorts International will receive $23 million, its 51% share of
this dividend.

"MGM Resorts and MGP are working diligently with our advisors and
the regulators, and have made great strides thus far as evidenced
by the progress we have made with the SEC, as well as the
announcement of MGP's management team and Board," said Mr. Murren.
"We are excited about the potential of this transaction and
continue to actively work toward completing all the necessary steps
in preparation for the planned IPO of MGM Growth Properties."

The Company's cash balance at Dec. 31, 2015, was $1.7 billion,
which included $699 million at MGM China.  At Dec. 31, 2015, the
Company had $2.7 billion of borrowings outstanding under its $3.9
billion senior secured credit facility and $1.6 billion outstanding
under the $3 billion MGM China credit facility.  In January 2016,
MGM National Harbor entered into a $525 million credit agreement
comprised of a $425 million term loan A facility and a $100 million
revolving facility.  In February 2016, MGM China amended its credit
facility to increase its maximum permitted leverage ratio, in
addition to other adjustments, to allow for more flexibility under
its covenants.

A full-text copy of the press release is available for free at:

                      http://is.gd/GtM07U

                        About MGM Resorts

MGM Resorts International (NYSE: MGM) a global hospitality
company, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The
Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of
developing a gaming resort in Cotai, and 50% of CityCenter in Las
Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the Company's
Web site at www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of
$156.60 million in 2013 following a net loss attributable to the
Company of $1.76 billion in 2012.

                         Bankruptcy Warning

The Company stated in its 2013 Annual Report, "The agreements
governing our senior secured credit facility and other senior
indebtedness contain restrictions and limitations that could
significantly affect our ability to operate our business, as well
as significantly affect our liquidity, and therefore could
adversely affect our results of operations.  Covenants governing
our senior secured credit facility and certain of our debt
securities restrict, among other things, our ability to:

   * pay dividends or distributions, repurchase or issue equity,
     prepay certain debt or make certain investments;

   * incur additional debt;

   * incur liens on assets;

   * sell assets or consolidate with another company or sell all
     or substantially all assets;

   * enter into transactions with affiliates;

   * allow certain subsidiaries to transfer assets; and

   * enter into sale and lease-back transactions.

Our ability to comply with these provisions may be affected by
events beyond our control.  The breach of any such covenants or
obligations not otherwise waived or cured could result in a
default under the applicable debt obligations and could trigger
acceleration of those obligations, which in turn could trigger
cross defaults under other agreements governing our long-term
indebtedness.  Any default under our senior secured credit
facility or the indentures governing our other debt could
adversely affect our growth, our financial condition, our results
of operations and our ability to make payments on our debt, and
could force us to seek protection under the bankruptcy laws."

                           *     *     *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on MGM Resorts
International to 'B-' from 'CCC+'.   In March 2012, S&P revised
the outlook to positive from stable.

"The revision of our rating outlook to positive reflects strong
performance in 2011 and our expectation that MGM will continue to
benefit from the improving performance trends on the Las Vegas
Strip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporate
family rating and probability of default rating.  The affirmation
of MGM's B2 Corporate Family Rating reflects Moody's view that
positive lodging trends in Las Vegas will continue through 2012
which will help improve MGM's leverage and coverage metrics,
albeit modestly. Additionally, the company's declaration of a $400
million dividend ($204 million to MGM) from its 51% owned Macau
joint venture due to be paid shortly will also improve the
company's liquidity profile. The ratings also consider MGM's
recent bank amendment that resulted in about 50% of its
$3.5 billion senior credit facility being extended one year from
2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings has
upgraded MGM Resorts International's (MGM) and MGM China Holdings
Ltd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',
respectively.  Fitch's upgrade of MGM's IDR to 'B+' and the
Positive Outlook reflect the company's strong performance on the
Las Vegas Strip and in Macau as well as Fitch's longer-term
positive outlooks for these markets.


MIDSTATES PETROLEUM: Aristeia Capital No Longer a Shareholder
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Aristeia Capital, L.L.C. reported that as of Dec. 31,
2015, it has ceased to beneficially own shares of common stock of
Midstates Petroleum Company, Inc.  A copy of the regulatory filing
is available for free at http://is.gd/oNOGPj

               About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S. Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total
assets, $2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


MIDSTATES PETROLEUM: Three Directors Resign
-------------------------------------------
Thomas C. Knudson, George A. DeMontrond and John Mogford each
resigned from the Board of Directors of Midstates Petroleum
Company, Inc., effective as of Feb. 15, 2016, as disclosed in a
Form 8-K document filed with the Securities and Exchange
Commission.  None of the foregoing members of the Board have
indicated to the Company that their resignation was due to any
disagreement with the Company or any matter relating to the
Company's operations, policies or practices.

Bruce Stover, Chairman of the Board, commented, "The Company
greatly appreciates the hard work, leadership, wisdom and guidance
that Tom, John and George provided the Company while serving as
members of the Company's Board of Directors over the past years.
We wish each of them the very best in their future endeavors."

                About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S. Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total assets,
$2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


NANOSPHERE INC: LSAF, et al., Report 3% Stake as of Dec. 31
-----------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, LSAF Holdings LLC, Perella Weinberg Partners Asset
Based Value Master Fund II L.P., Perella Weinberg Partners Asset
Based Value GP L.P., Perella Weinberg Partners Asset Based Value GP
LLC, Perella Weinberg Partners Capital Management LP, NSPH Funding
LLC, LSAF Funding LLC, and Life Sciences Alternative Funding
Holdings LLC disclosed that as of Dec. 31, 2015, they beneficially
own 900,000 shares of common stock of Nanosphere, Inc.,
representing 3 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/wAkzBS

                        About Nanosphere

Nanosphere, Inc., develops, manufactures and markets an advanced
molecular diagnostics platform, the Verigene System, that enables
simple, low cost and highly sensitive genomic and protein testing
on a single platform.  The Verigene System includes a bench-top
molecular diagnostics workstation that is a universal platform for
genomic and protein testing and provides for multiple tests to be
performed on a single platform, including both genomic and protein
assays, from a single sample.  Its proprietary nanoparticle
technology provides the ability to run multiple tests
simultaneously on the same sample.  Nanosphere was founded by Chad
A. Mirkin and Robert Letsinger on December 30, 1999 and is
headquartered in Northbrook, IL.

As of Sept. 30, 2015, Nanosphere had $37.11 million in total
assets, $22.68 million in total liabilities and $14.43 million in
total stockholders' equity.

As of Sept. 30, 2015, the Company has incurred net losses of $446.8
million since inception, and has funded those losses primarily
through the sale and issuance of equity securities and secondarily
through the issuance of debt.

"While the Company is currently in the commercialization stage of
operations, the Company has not yet achieved profitability and
anticipates that it will continue to incur net losses in the
foreseeable future," the Company stated in its quarterly report for
the period ended Sept. 30, 2015.

The Company had cash and cash equivalents of $16.3 million, of
which $4 million is restricted cash as of Sept. 30, 2015, and net
cash used in operating activities of $20.6 million for the nine
months period ended Sept. 30, 2015.


NATIONAL CINEMEDIA: Arrowpoint Asset Reports 8.7% Stake
-------------------------------------------------------
Arrowpoint Asset Management, LLC, disclosed in an amended Schedule
13G filed with the Securities and Exchange Commission that as of
Dec. 31, 2015, it beneficially owns 5,360,340 shares of common
stock of National CineMedia, Inc., representing 8.7 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/1Kurnv

                     About National CineMedia

National CineMedia, Inc., is the holding company of National
CineMedia, LLC.  NCM LLC operates the largest digital in-theatre
network in North America, allowing NCM to distribute advertising,
Fathom entertainment programming events and corporate events under
long-term exhibitor services agreements with American Multi-Cinema
Inc., a wholly owned subsidiary of AMC Entertainment Inc.; Regal
Cinemas, Inc., a wholly owned subsidiary of Regal Entertainment
Group; and Cinemark USA, Inc., a wholly owned subsidiary of
Cinemark Holdings, Inc.  NCM LLC also provides such services to
certain third-party theater circuits under "network affiliate"
agreements, which expire at various dates.

As of Oct. 1, 2015, the Company had $1 billion in total assets,
$1.23 billion in total liabilities and a $228 million total
deficit.

                            *     *     *

As reported by the TCR on March 24, 2011, Standard & Poor's
Ratings Services raised its corporate credit ratings on
Centennial, Colorado-based National CineMedia Inc. and
operating subsidiary National CineMedia LLC (which S&P analyzes on
a consolidated basis) to 'BB-' from 'B+'.  "The 'BB-' corporate
credit rating reflects S&P's expectation that NCM's EBITDA growth
will enable the company to continue to de-lever over the
intermediate term despite its aggressive dividend policy," said
Standard & Poor's credit analyst Jeanne Shoesmith.


NATIONAL CINEMEDIA: Janus Capital Holds 11% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Janus Capital Management LLC disclosed that as of
Dec. 31, 2015, it beneficially owns 6,753,853 shares of common
stock of National CineMedia, Inc., representing 11 percent of the
shares outstanding.  Janus Triton Fund also reported beneficial
ownership of 3,721,196 shares.  A copy of the regulatory filing is
available for free at http://is.gd/C7iM7j

                    About National CineMedia

National CineMedia, Inc., is the holding company of National
CineMedia, LLC.  NCM LLC operates the largest digital in-theatre
network in North America, allowing NCM to distribute advertising,
Fathom entertainment programming events and corporate events under
long-term exhibitor services agreements with American Multi-Cinema
Inc., a wholly owned subsidiary of AMC Entertainment Inc.; Regal
Cinemas, Inc., a wholly owned subsidiary of Regal Entertainment
Group; and Cinemark USA, Inc., a wholly owned subsidiary of
Cinemark Holdings, Inc.  NCM LLC also provides such services to
certain third-party theater circuits under "network affiliate"
agreements, which expire at various dates.

As of Oct. 1, 2015, the Company had $1 billion in total assets,
$1.23 billion in total liabilities and a $228 million total
deficit.

                            *     *     *

As reported by the TCR on March 24, 2011, Standard & Poor's
Ratings Services raised its corporate credit ratings on
Centennial, Colorado-based National CineMedia Inc. and
operating subsidiary National CineMedia LLC (which S&P analyzes on
a consolidated basis) to 'BB-' from 'B+'.  "The 'BB-' corporate
credit rating reflects S&P's expectation that NCM's EBITDA growth
will enable the company to continue to de-lever over the
intermediate term despite its aggressive dividend policy," said
Standard & Poor's credit analyst Jeanne Shoesmith.


NEFF RENTAL: Moody's Hikes Probability of Default Rating to 'B2'
----------------------------------------------------------------
Moody's Investors Service upgraded Neff Rental LLC CFR to B2 from
B3 and its Probability of Default Rating (PDR) to B2-PD from B3-PD.
The company's senior secured second lien term loan rating was
upgraded to B3 from Caa1. Moody's affirmed the Speculative Grade
Liquidity (SGL) rating of SGL-3. The rating outlook is stable.

RATINGS RATIONALE

The rating upgrade reflects good leverage for the rating category
with debt to EBITDA anticipated at about 4.0 times for 2015 (all
ratios on a Moody's adjusted basis) and positive cash flow
anticipated for the year. The upgrade also reflects the belief that
the company's exposure to the oil and gas segment has declined to
under 10%. Moody's believes that even with the oil and gas
headwinds, the company should experience low single digit revenue
and EBITDA growth in 2016 with EBITDA margins expected to remain
strong at near 50%. We expect slower growth in 2016 versus 2015,
and believe this will provide an opportunity to generate positive
cash flow even after considering the company's $25 million share
repurchase program through a combination of reduced capital
expenditures, operating earnings, and ongoing used equipment
sales.

Factors that had been constraining the rating have become less
pronounced. For example, a historically aggressive financial policy
is now deemed less likely given it is a publicly traded company.
Specifically, Neff's special dividends of $330 million paid in June
2014 and $110 million paid in November 2013 were reflective of an
aggressive financial policy, particularly given Neff's size. These
dividends weakened Neff's balance sheet and caused the rate of
balance sheet improvement to lag the improvement in its overall
operations. We consider the year that has passed since the last
dividend to be the beginning of a track record of more
conservatively managing its balance sheet. The B2 CFR reflects our
expectations that the company's leverage will remain under 4.5
times and that its capital expenditures will be reduced to reflect
the weak oil and gas end market. Moreover, despite its small size
and concentration in earthmoving equipment, we view Neff's strong
presence across the Sun Belt region to be a credit positive as it
makes the company's business less seasonal.

Moody's has upgraded the following ratings:

Issuer: Neff Rental LLC

Corporate Family Rating, upgraded to B2 from B3;

Probability of Default Rating, upgraded to B2-PD from B3-PD;

Senior secured second lien term loan due 2021, upgraded to B3
(LGD5) from Caa1 (LGD5).

The following ratings have been affirmed:

Issuer: Neff Rental LLC

Speculative Grade Liquidity Rating, SGL-3.

The outlook is stable.

Neff's SGL-3 liquidity rating is supported by adequate availability
anticipated under its $425 million asset-based revolving credit
facility over the next 12 months. Revolver availability ($143
million as of September 30, 2015 after $278 million of borrowings
and $3.8 million letters of credit) will remain an important
consideration in the company's liquidity profile as the company
heavily rely on it to finance its operations and fund its capital
expenditure program. Although Neff's capital expenditure program is
high relative to the revenue base, we anticipate free cash flow
generation to continue to improve in 2016. The ABL revolver
contains a springing total leverage covenant of 4.75 times as of
January 2016, with future step-downs, and a fixed charge coverage
covenant of 1.0 time, both tested when revolver availability falls
below $42.5 million. We expect the company will not need to test
its covenants over the next 12 months.

The stable outlook reflects Neff's strong operating margin and
leverage maintained at 4.0 times. Excess free cash flow after
capital expenditures and share repurchases are expected to be used
for pay down debt lowering leverage further over the next year. The
stable outlook is also supported by strength in its non-residential
construction and infrastructure end-markets that is believed to
help offset the impact of oil and gas on the company's
performance.

Positive ratings traction will remain contingent on the company's
future financial policies given its current sponsor's (Wayzata
Investment Partners) continued control of Neff post-IPO through
majority ownership of the voting shares. A ratings upgrade could
occur if the company was committed to more conservatively managing
its balance sheet such that Debt / EBITDA is sustained below 3
times and anticipated to improve further. However, given the
company's small size and historically weak performance during
difficult economic periods, we do not anticipate a ratings upgrade
in the next 18 months.

If the company's performance weakens such that leverage is expected
to remain above 4.5 times beyond 2016, the rating could come under
pressure. Likewise, although unlikely as it is now a publicly
traded company, another near-term outsized dividend without
corresponding rapid earnings growth and/or weakening in the
company's equipment utilization could also pressure the rating. An
outsized capital expenditure program that results in meaningfully
higher leverage or lower equipment utilization rates are factors
that could drive a negative ratings outlook or even a ratings
downgrade.

Neff Rental LLC, headquartered in Miami, Florida, is a leading
equipment rental operator across the Sun Belt region of the United
States. The company is a wholly owned subsidiary of Neff Holdings
LLC. The company's equity is controlled by private investment fund
Wayzata Investment Partners. The company trades publicly on the
NASDAQ stock exchange under the symbol "NEFF." Total revenues for
the LTM period ended September 30, 2015 totaled approximately $382
million.


NET TALK.COM: Suspending Filing of Reports with SEC
---------------------------------------------------
Net Talk.com, Inc., filed a Form 15 with the Securities and
Exchange Commission notifying the termination of the registration
of its common stock, par value $0.001 par value, 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
periodic reports with the SEC.

                         Net Talk.Com

Based in Miami, Fla., Net Talk.com, Inc., is a telephone company,
that provides, sells and supplies commercial and residential
telecommunication services, including services utilizing voice
over internet protocol technology, session initiation protocol
technology, wireless fidelity technology, wireless maximum
technology, marine satellite services technology and other similar
type technologies.

Net Talk.Com reported a net loss of $2.84 million on $5.06 million
of net revenues for the year ended Dec. 31, 2014, compared to a
net loss of $4.78 million on $6.02 million of net revenues for the
year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $3.29 million in total
assets, $14.1 million in total liabilities and a $10.8 million
total stockholders' deficit.

Zachary Salum Auditors P.A., in South Miami, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has incurred significant recurring losses from operations,
its total liabilities exceeds its total assets, and is dependent on
outside sources of funding for continuation of its operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


NORTEL NETWORKS: Fights Equity Security Holders Panel Appointment
-----------------------------------------------------------------
Ernst & Young Inc., the court-appointed Monitor and foreign
representative of Nortel Networks Corporation, et al., in
proceedings under Canada's Companies' Creditors Arrangement Act
pending before the Ontario Superior Court of Justice, has filed a
limited joinder to the Debtors' objection to the requests of
Merchants Equity and General Beneficial LP. for appointment of an
equity security holders committee, dated Jan. 11, 2016.

According to the Monitor, the parties requesting appointment of an
equity committee hold no equity interests in any of the U.S.
Debtors, and that the equity of each of the U.S. Debtors in these
cases is either directly or indirectly 100% owned by NNC.

In December 2015, Merchants Equity and General Beneficial LP each
requested for the appointment of an equity security holders
committee.  The Debtors, according to Merchants Equity, have failed
to uphold a liquidation platform for holder of its common stock,
filed financial statements of share price value have not yet been
performed.  

On Jan. 11, 2016, the Debtors filed an objection to the request,
saying that the requests appear to be premised on the mistaken
assumption that an equity committee appointed in the Debtors' cases
would represent the interests of public holders of Nortel equity.


Public holders of Nortel equity hold shares in one of the Canadian
debtors, Nortel Networks Corporation, not shares in any Debtor in
these cases.  The equity of NNI is 100% owned by Nortel Networks
Limited, which is itself 100% owned by NNC.  Every other individual
debtor in the cases is also directly or indirectly owned by NNC.
The Debtors say that Merchants Equity and General Beneficial offer
no evidence that they hold shares of any of the Debtor, and the
supporting documentation filed by the Merchants Equity in the
certificate of service regarding proof of interest of Merchants
Equity, dated Dec. 4, 2015, plainly indicates that the Merchants
Equity hold equity interests in NNC, not NNI or any other Debtor.
To support its proof of interest, Merchants Equity provided a
statement from UnionBanc showing that Merchants Equity held 24,000
shares in NNC, not NNI or any other Debtor.  

The equity interests in NNI are held by its corporate parent, NNL,
not by third parties like Merchants Equity and General Beneficial,
and no Debtor has equity interests held by third parties other than
NNI, NNL, or NNC, the Debtors say.

Merchants Equity, the Debtors state, mistakenly claims in its proof
of interest that it holds an equity interest in NNI, and supports
this claim with evidence of it holding 24,000 shares in NNC.

The Monitor and the Canadian Debtors join the objection to the
extent the U.S. Debtors assert that there is no basis for the
formation of an equity committee in these cases.

The Monitor can be reached at:

      Buchanan Ingersoll & Rooney PC
      Kathleen A. Murphy, Esq.
      Mary F. Caloway, Esq.
      919 North Market Street, Suite 1500
      Wilmington, Delaware 19801
      Tel: (302) 552-4200
      Fax: (302) 552-4295
      E-mail: mary.caloway@bipc.com
              kathleen.murphy@bipc.com

                  and

      Allen & Overy LLP
      Ken Coleman, Esq.
      Daniel J. Guyder, Esq.
      1221 Avenue of the Americas
      New York, New York 10020
      Tel: (212) 610-6300
      Fax: (212) 610-6399
      E-mail: ken.coleman@allenovery.com
              daniel.guyder@allenovery.com

                    About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of NNI's
European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy Court
for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of the
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.


OLD DOMINION: Court Hears U.S. Trustee's Bid to Dismiss Case
------------------------------------------------------------
In a Memorandum dated February 4, 2016, which is available at
http://is.gd/SGBZpHfrom Leagle.com, Judge William J. Lafferty,
III, of the United States Bankruptcy Court for the Northern
District of California, Oakland Division, ordered that the Court's
schedule sets the deadline for Debtor Old Dominion Holdings, Inc.'s
Opposition to Friday, February 5, 2016, and the Motion for hearing
on Wednesday, February 10, 2016, at 10:30 a.m.

On January 6, 2016, the Court held a status conference.  At the
conclusion of the status conference, the Court set the following
schedule for the case: the United States Trustee was to file the
Motion to Dismiss by January 20, 2016, the Debtor was to file their
Opposition by February 5, 2016, and a hearing on the Motion to
Dismiss would take place concurrently with a continued status
conference date of February 10, 2016.

On January 20, 2016, the UST timely filed the Motion.  However, the
Motion was set for hearing on February 17, 2016.  Although the
Court appreciates the UST's attempt to allow for a longer notice
period, the hearing schedule will control, Judge Lafferty ruled.

The case is In re Old Dominion Holdings, Inc. Chapter 11 Debtor,
No. 15-43635 (Bankr. N.D. Calif.).

Old Dominion Holdings, Inc., Debtor, is represented by R. Kenneth
Bauer, Esq. --  Law Offices of R. Kenneth Bauer.

Office of the U.S. Trustee/Oak, U.S. Trustee, is represented by
Julie M. Glosson, Office of the United States Trustee. Lynette C.
Kelly, U.S. Office of the U.S. Trustee.

Old Dominion Holdings, Inc., sought protection under Chapter 11 of
the Bankruptcy Code on November 30, 2015 (Bankr. N.D. Calif., Case
No. 15-43635).  The case is assigned to Judge Hon. William J.
Lafferty.  The Debtor's counsel is R. Kenneth Bauer, Esq., at Law
Offices of R. Kenneth Bauer, in Walnut Creek, California.  The
petition was signed by Kevin Senn, president.

Old Dominion Holdings, Inc., previously filed a Chapter 11 petition
on October 28, 2015 (Bankr. N.D. Calif., Case No. 15-43299).


OLLIE'S BARGAIN: S&P Affirms Then Withdraws B+ Corp Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its ratings on
Harrisburg, Pa.-based Ollie's Bargain Outlet Holdings Inc.,
including its 'B+' corporate credit rating. The company has
experienced solid growth in its year-to-date operating performance
(including its 2015 holiday results), with a 6.5% increase in
same-store sales year-to-date through Oct. 31, 2015, and a 5.6%
comp for the nine weeks ended Jan. 2, 2016.  

Subsequently, S&P withdrew the ratings at the company's request
following the refinancing of the company's term loan and revolving
credit facility. The outlook was stable at the time of withdrawal.


OUTER HARBOR: Meeting of Creditors Set for March 9
--------------------------------------------------
The meeting of creditors of Outer Harbor Terminal LLC is set to be
held on March 9, 2016, at 2:00 p.m., according to a filing with the
U.S. Bankruptcy Court for the District of Delaware.

The meeting will be held at J. Caleb Boggs Federal Building, Room
2112, 844 King Street, Wilmington, Delaware.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                        About Outer Harbor

Oakland, California-based port operator Outer Harbor Terminal, LLC
filed for Chapter 11 protection (Bankr. D. Del. Case No. 16-10283)
on Feb. 1, 2016.

The Hon. Laurie Selber Silverstein presides over the case.
Milbank, Tweed, Hadley & Mccloy LLP is the Debtor's general
counsel.  Mark D. Collins, Esq., at Richards, Layton & Finger,
P.A., serves as its Delaware counsel.

The Debtor estimated assets and debts at $100 million to $500
million.  The petition was signed by Heather Stack, chief financial
officer.


PACIFIC EXPLORATION: Reaches Extension Agreement with Noteholders
-----------------------------------------------------------------
Pacific Exploration & Production Corp. on Feb. 19 disclosed that
the Company has reached an agreement (the "Noteholder Extension
Agreement") with certain holders (the "2019 Noteholders") of its
5.375% senior notes due 2019 (the "2019 Notes") and certain holders
(the "2025 Noteholders", and together with the 2019 Noteholders,
the "Noteholders") of its 5.625% senior notes due 2025 (the "2025
Notes", and together with the 2019 Notes, the "Notes") pursuant to
which the Noteholders have agreed, subject to certain terms and
conditions, to forbear from declaring the principal amounts of such
Notes (and certain additional amounts) due and payable (the
"Forbearance") until March 31, 2016 (the "Extension Period").

The Forbearance is in respect of the previously-announced decision
by the Company to not make the scheduled interest payments under
the Notes due on January 19, 2016 (in the case of the 2025 Notes)
and January 26, 2016 (in the case of the 2019 Notes) (collectively,
the "January Interest Payments") and to utilize a 30 day grace
period pursuant to the applicable indentures (the "Indentures")
governing the Notes to assess strategic alternatives with respect
to its capital structure.

Ronald Pantin, Chief Executive Officer of the Company, commented:
"We are pleased to have worked with this group of significant
creditors to obtain the Forbearance until March 31, 2016.  The
extension should allow the Company additional time to continue
working with the Independent Committee of the Board of Directors,
the Company's financial and legal advisors as well as its lenders
and the Noteholders to come to a consensual and comprehensive
restructuring of the Company's balance sheet."

In addition to the Noteholder Extension Agreement, the Company is
in the process of entering into forbearance agreements (the "Lender
Forbearance Agreements" and together with the Noteholder Extension
Agreement, the "Extension Agreements") in respect of the following
agreements: (i) U.S.$1 billion revolving credit and guaranty
agreement with a syndicate of lenders and Bank of America, N.A, as
administrative agent (the "Revolving Credit Agreement"); (ii)
U.S.$250 million credit and guaranty agreement with HSBC Bank USA,
N.A., as agent; (iii) U.S.$109 million credit and guaranty
agreement with Bank of America, N.A., as lender; and (iv) U.S.$75
million master credit agreement with Banco Latino Americano de
Comercio Exterior, S.A., as lender (collectively, the "Credit
Agreements" and each lender and counterparty under the Credit
Agreements, a "Bank Lender").

The failure to pay the January Interest Payments will constitute
Events of Default under the Indentures as of February 19, 2016.
However, under the terms of the Noteholder Extension Agreement,
holders of approximately 34% of the aggregate principal amount of
outstanding 2019 Notes and 42% of the aggregate principal amount of
outstanding 2025 Notes have agreed to forbear in the manner
described above and to deliver letters to the trustee under the
Indentures to that effect.  Similarly, under the terms of the
Lender Forbearance Agreements (once entered into), the requisite
lenders pursuant to the Credit Agreements will agree, subject to
certain terms and conditions, to also forbear from declaring the
principal amounts of such Credit Agreements due and payable as a
result of the certain specified defaults during the Extension
Period.

The Company intends to use the Extension Period to continue to work
with its creditors pursuant to the Indentures and the Credit
Agreements to formulate a comprehensive plan to address the current
oil price environment and ensure the long-term viability of its
business.  The Company remains, and intends to remain, current with
its suppliers, trade partners and contractors.  Normal operations
continue in Colombia and the other jurisdictions within which the
Company operates.

The Noteholder Extension Agreement will become effective once the
requisite Bank Lenders have approved the entering into of the
Lender Forbearance Agreements and the Lender Forbearance Agreements
have been entered into (which the Company expects will occur today)
and, subject to  the satisfaction of certain terms and conditions,
the Extension Agreements will be effective through March 31, 2016.
Under the terms of the Extension Agreements, the Company has agreed
with the Noteholders and the Bank Lenders that interest will not be
paid pursuant to the Indentures or Credit Agreements during the
Extension Period.

The Company is being advised by Lazard Frères & Co. LLC, Norton
Rose Fulbright Canada LLP (Canada), Proskauer Rose LLP (U.S.),
Zolfo Cooper (U.S.) and Garrigues (Colombia).  The Independent
Committee is being advised by Osler, Hoskin & Harcourt LLP.

The Noteholders, which hold in the aggregate approximately 40% of
the approximately U.S.$4.1 billion principal outstanding amount of
notes issued by the Company (including 2019 Notes and 2025 Notes
held by the Noteholders), are being advised by Evercore Group LLC
(U.S.), Goodmans LLP (Canada) Paul, Weiss, Rifkind, Wharton &
Garrison LLP (U.S.) and Cardenas y Cardenas Abogados (Colombia).
The Steering Committee formed by the syndicate of lenders under the
Revolving Credit Agreement is being advised by FTI Consulting
(U.S.), Davis Polk & Wardwell LLP (U.S.), Torys LLP (Canada) and
Gomez-Pinzon Zuleta Abogados (Colombia).

                           About Pacific

Pacific Exploration & Production Corp. is a Canadian public company
and a leading explorer and producer of natural gas and crude oil,
with operations focused in Latin America.  The Company has a
diversified portfolio of assets with interests in more than 85
exploration and production blocks in seven countries including
Colombia, Peru, Guatemala, Brazil, Guyana, Mexico and Belize.  

As reported in the Troubled Company Reporter-Latin America on Jan.
22, 2016, Standard & Poor's Ratings Services lowered its long-term
corporate credit and issue-level ratings on Pacific Exploration and
Production Corp (Pacific) to 'D' from 'CC'.


PACIFIC EXPLORATION: Reaches Forbearance Deal with Noteholders
--------------------------------------------------------------
Carolyn King, writing for Dow Jones' Daily Bankruptcy Review,
reported that Pacific Exploration & Production Corp. on Feb. 20
said it had reached a forbearance agreement with certain
noteholders, giving the troubled Canadian-Colombian oil company
more time to achieve a restructuring of its balance sheet.

                    About Pacific Exploration

Pacific Exploration and Production Corp. is a publicly held
Canadian company and a leading explorer and producer of natural
gas
and crude oil.

The Troubled Company Reporter, on Jan. 21, 2016, reported that
Moody's Investors Service has downgraded Pacific Exploration &
Production Corp (Pacific E&P)'s corporate family rating and senior
unsecured debt ratings to C from Caa3.

The TCR, on Jan. 20, 2016, reported that Standard & Poor's Ratings
Services said it lowered its long-term corporate credit and
issue-level ratings on Pacific Exploration and Production Corp
(Pacific) to 'CC' from 'CCC+'.  S&P also removed the rating from
CreditWatch with negative implications. The outlook is negative.

On Jan. 14, 2016, Pacific announced that it has elected to utilize
the 30 day grace period rather than make the interest payments due
on Jan. 19, 2016 and Jan. 26, 2016 of about $65 million.  Although
the company is still current on those obligations, S&P expects
default to be a virtual certainty.


PAROLE BESTGATE: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor: Parole Bestgate LLC
                839 Bestgate Road
                Annapolis, MD 21401

Case Number: 16-11840

Involuntary Chapter 11 Petition Date: February 17, 2016

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Hon. David E. Rice

Petitioner's Counsel: Pro Se

   Petitioner                   Nature of Claim  Claim Amount
   ----------                   ---------------  ------------
James Joseph Sokolis             Professional        $19,300
1009 Henderson Manor Ct             Fees
Bel Air, MD 21014

James Joseph Sokolis            Indemnification      $15,396
1009 Henderson Manor Ct              Claim
Bel Air, MD 21014

James Joseph Sokolis              Filing Fee          $1,717
1009 Henderson Manor Ct
Bel Air, MD 21014


PATERSON, NJ: Moody's Affirms 'Ba1' General Obligation Rating
-------------------------------------------------------------
Moody's Investors Service has affirmed the City of Paterson, NJ's
general obligation rating at Ba1. The outlook was revised to
negative. Concurrently, Moody's has affirmed the A3 enhanced rating
on the city's Municipal Qualified Bond Act (MQBA) enhanced bonds.
The outlook on the enhanced rating remains negative.

The affirmation of the Ba1 is based the city's very weak financial
position after worse-than-expected financial performance in fiscal
2015. Fund balance and cash reserves will remain weak through
fiscal 2016 and could likely worsen going forward. The rating
reflects the city's large, declining tax base, below-average income
levels, high rates of poverty and unemployment, and above-average
debt burden. It also incorporates the city's considerable reliance
on state emergency aid and deficit financing to support
operations.

The A3 enhanced rating reflects the additional security provided by
the state's Municipal Qualified Bond Act (MQBA) pre-default state
intercept program. The A3 rating is one notch below the State of
New Jersey (A2 negative), reflecting strong 3.8 times debt service
coverage provided by qualified state aid revenues.

Rating Outlook

The negative underlying outlook reflects our expectation that city
operations will be significantly pressured over the next 12 to 18
month by the lack of budget consensus for fiscal 2016 (June 30).

The negative outlook assigned to the enhanced qualified bond
ratings is directly linked to the state's negative outlook.

Factors that Could Lead to an Upgrade

Significant and sustained improvement in liquidity and Current
Fund balance

Material improvements in the city's socioeconomic profile

Factors that Could Lead to a Downgrade

Further deterioration in Current Fund balance and/or cash
reserves

Continued difficulty passing budgets in a timely fashion

Material declines in the tax base or socioeconomic profile

Significant increase in debt or pension burden

Legal Security

The city's bonds are secured by the its general obligation
unlimited tax pledge and additionally enhanced by the State of New
Jersey's Municipal Qualified Bond Act pre-default intercept
program.

Use of Proceeds. Not applicable.

Obligor Profile

Paterson is the county seat of Passaic County (Aa3 stable) and the
state's third most populous city (population 146,000). Although it
was the nation's first industrial city, Paterson's manufacturing
base declined significantly in the latter half of the 20th century.


PHYSIO-CONTROL INT'L: S&P Puts 'B' CCR on CreditWatch Positive
--------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B' corporate credit
rating and issue-level ratings on Physio-Control International Inc.
on CreditWatch with positive implications. The CreditWatch
placement follows Stryker Corp.'s announced plans to acquire
Physio-Control.

Physio-Control, a global leader in the automatic external
defibrillator (AED) market is being acquired by medical technology
company Stryker Corp. in an all-cash transaction valued at about
$1.28 billion.

S&P's ratings on Stryker remain on CreditWatch with negative
implications. S&P expects to resolve that CreditWatch upon
consummation of this transaction.

"We will likely resolve the CreditWatch placement on Physio-Control
and raise the rating once the transaction is closed in the second
quarter of 2016 and its debt is redeemed, concurrent with the
resolution of our CreditWatch placement on Stryker Corp.," said
Standard & Poor's credit analyst David Kaplan.

S&P will subsequently withdraw the corporate rating and issue-level
ratings on Physio-Control following the close of the transaction.
S&P expects its debt will be refinanced at transaction close.


PICO HOLDINGS: Leder Files 2nd Amendment to Consent Solicitation
----------------------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- PICO Holdings,
Inc. (Nasdaq:PICO), based in La Jolla, Calif., is a diversified
holding company reporting recurring losses since 2008. PICO owns
57% of UCP, Inc. (NYSE:UCP), 100% of Vidler Water Company, Inc., a
securities portfolio and various interests in small businesses.
PICO has $676 million in assets and $431 million in shareholder
equity. Central Square Management LLC and River Road Asset
Management LLC collectively own more than 14% of PICO and have
agitated for governance and financial changes. Sean Leder owns 1%
of PICO shares and seeks shareholder authorization to call a
Special Meeting to remove and replace five directors. Other
activists at http://ReformPICONow.com/have taken to the Internet
to advance the shareholder cause.

On February 18, 2016, Sean Leder filed a Second Amendment to the
Consent Solicitation with the Securities and Exchange Commission.

The filing contains two informative and pertinent charts. One
relates to the history of capital allocation and economic results
at PICO. The other cumulates historical compensation information
for PICO CEO John Hart.

Mr. Leder adjusts his director proposal to reflect the latest
additions. As three PICO Director seats have turned over in the
last 2 months, he proposes to only appoint 4 new directors, instead
of 5 previously contemplated.

Mr. Leder proposes to keep the 3 new directors -- Eric Speron,
Howard Brownstein and Raymond Marino, while jettisoning the four
"Legacy Directors" -- Mr. Hart (PICO Director 19 years), Carlos C.
Campbell (18 years), Kenneth J. Slepicka (11 years), and Michael J.
Machado (3 years).

Mr. Leder advises if the Board appoints additional directors prior
to the Special Meeting, making four directors less than a majority,
"we intend to evaluate legal remedies that may be available to us
to invalidate such appointment."

Mr. Leder discloses that he has spent $50,000 so far on the
campaign.

Since the last SEC filing, Mr. Leder's firm purchased an additional
32,000 PICO shares.

Mr. Leder repeats that there may be room for compromise:
"Specifically, we may decide to withdraw the request for the
Special Meeting if the Board takes meaningful steps to respond to
shareholder concerns, including the appointment of nominees to the
Board acceptable to Leder Holdings."

Separately, on February 19, 2016, PICO announced that newest
Director Howard Brownstein was appointed Chair of the Audit
Committee.


PLASTIC2OIL INC: EcoNavigation Agreements Expire
------------------------------------------------
As previously reported, Plastic2Oil, Inc. entered into four related
agreements with EcoNavigation, LLC in connection with the supply of
plastic-to-oil, or P2O, processors by the Company to EcoNavigation.
As of Jan. 27, 2016, those agreements expired and were not renewed
by the parties, however, the parties continue to pursue joint
opportunities for the sale of processors to third parties, as
disclosed in a Form 8-K report filed with the Securities and
Exchange Commission.

                         About Plastic2Oil

Plastic2Oil, Inc., formerly JBI Inc., is a North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement.  The Company's Plastic2Oil (P2O) is a process designed
to provide immediate economic benefit for industry, communities
and government organizations with waste plastic recycling
challenges.  It is also focused on the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.  The Company's
fuel products include No. 6 Fuel, No. 2 Fuel (diesel, petroleum
distillate), Naphtha, Petcoke (carbon black) and Off-Gases. No. 6
Fuel is heavy fuel used in industrial boilers and ships. No. 2
Fuel is a mid-range fuel known as furnace oil or diesel.  Naphtha
is a light fuel that is used as a cut feedstock for ethanol or as
white gasoline in high and regular grade road certified fuels.

Plastic2Oil reported a net loss attributable to common shareholders
of $8.51 million on $59,000 of sales for the year ended Dec. 31,
2014, compared to a net loss attributable to common shareholders of
$16.8 million on $693,000 of sales for the year ended Dec. 31,
2013.

As of Sept. 30, 2015, the Company had $6.37 million in total
assets, $9.97 million in total liabilities and a $3.59 million
total stockholders' deficit.

MNP LLP, in Toronto, Canada, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2014, citing that the Company has experienced negative cash
flows from operations since inception and has accumulated a
significant deficit which raises substantial doubt about its
ability to continue as a going concern.


PLASTIC2OIL INC: Issues $200,000 Promissory Note to President
-------------------------------------------------------------
Plastic2Oil, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it issued a promissory note
in favor of Richard Heddle, the Company's president, chief
executive officer and chairman of the Company's board of directors,
to memorialize various advances, not to exceed $200,000 in total,
which are expected to be made by Mr. Heddle to the Company from
Feb. 11, 2016, until March 31, 2016.

The promissory note bears interest at the rate of 12% per annum.
All principal and interest on the promissory note is due and
payable in full by the Company on demand.  The repayment of
promissory note will be secured by assets of the Company.  It is
anticipated that the proceeds of these advances will be used for
working capital purposes.

                       About Plastic2Oil

Plastic2Oil, Inc., formerly JBI Inc., is a North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement.  The Company's Plastic2Oil (P2O) is a process designed
to provide immediate economic benefit for industry, communities
and government organizations with waste plastic recycling
challenges.  It is also focused on the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.  The Company's
fuel products include No. 6 Fuel, No. 2 Fuel (diesel, petroleum
distillate), Naphtha, Petcoke (carbon black) and Off-Gases. No. 6
Fuel is heavy fuel used in industrial boilers and ships. No. 2
Fuel is a mid-range fuel known as furnace oil or diesel.  Naphtha
is a light fuel that is used as a cut feedstock for ethanol or as
white gasoline in high and regular grade road certified fuels.

Plastic2Oil reported a net loss attributable to common shareholders
of $8.51 million on $59,000 of sales for the year ended Dec. 31,
2014, compared to a net loss attributable to common shareholders of
$16.8 million on $693,000 of sales for the year ended Dec. 31,
2013.

As of Sept. 30, 2015, the Company had $6.37 million in total
assets, $9.97 million in total liabilities and a $3.59 million
total stockholders' deficit.

MNP LLP, in Toronto, Canada, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2014, citing that the Company has experienced negative cash
flows from operations since inception and has accumulated a
significant deficit which raises substantial doubt about its
ability to continue as a going concern.


PLASTIC2OIL INC: Terminates Recycling Center Lease
--------------------------------------------------
Plastic2Oil, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on Jan. 15, 2016, it
entered into a Surrender of Lease agreement which terminated its
lease, dated Dec. 1, 2010, between Avondale Store Limited
Properties and JBI, (Canada) Inc. relating to the Company's
premises located at 1786 Allanport Road, Thorold, Canada.  The
effective date of the termination was
Oct. 31, 2015.

The premises was the site of the Company's Regional Recycling
Center, which was part of a business line that was discontinued by
the Company in 2013.  The Company anticipates the termination will
save approximately $1,161,360 in lease payments over the original
life of the lease which had a term ending on Dec. 1, 2030.  The
Company will remain liable for unpaid rent of approximately
$49,180, covering the period from May 2016 to October 2016.

                      About Plastic2Oil

Plastic2Oil, Inc., formerly JBI Inc., is a North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement.  The Company's Plastic2Oil (P2O) is a process designed
to provide immediate economic benefit for industry, communities
and government organizations with waste plastic recycling
challenges.  It is also focused on the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.  The Company's
fuel products include No. 6 Fuel, No. 2 Fuel (diesel, petroleum
distillate), Naphtha, Petcoke (carbon black) and Off-Gases. No. 6
Fuel is heavy fuel used in industrial boilers and ships. No. 2
Fuel is a mid-range fuel known as furnace oil or diesel.  Naphtha
is a light fuel that is used as a cut feedstock for ethanol or as
white gasoline in high and regular grade road certified fuels.

Plastic2Oil reported a net loss attributable to common shareholders
of $8.51 million on $59,000 of sales for the year ended Dec. 31,
2014, compared to a net loss attributable to common shareholders of
$16.8 million on $693,000 of sales for the year ended Dec. 31,
2013.

As of Sept. 30, 2015, the Company had $6.37 million in total
assets, $9.97 million in total liabilities and a $3.59 million
total stockholders' deficit.

MNP LLP, in Toronto, Canada, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2014, citing that the Company has experienced negative cash
flows from operations since inception and has accumulated a
significant deficit which raises substantial doubt about its
ability to continue as a going concern.


POINT BLANK: Has Until June 30, 2016 to Remove Lawsuits
-------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware has extended until June 30, 2016, the
period within which SS Body Armor I, Inc., formerly known as Point
Blank Solutions Inc., the deadline for filing notices of removal of
related proceedings under Fed. R. Bankr. P. 9027(a)(2).

As reported by the Troubled Company Reporter on Jan. 1, 2016, the
extension would allow the Company to make "fully-informed"
decisions concerning removal of any lawsuit, according to its
lawyer, James O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP,
in Wilmington, Delaware.

                      About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and   
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.

The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a $185
million fraud.

Point Blank Solutions, formerly DHB Industries, filed for Chapter
11 protection (Bankr. D. Del. Case No. 10-11255) on April 14,
2010.

Laura Davis Jones, Esq., Alan J. Kornfeld, Esq., David M.
Bertenthal, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang
Ziehl & Jones LLP, serve as bankruptcy counsel to the Debtor.
Olshan Grundman Frome Rosenweig & Wolosky LLP serves as corporate
counsel.  Epiq Bankruptcy Solutions serves as claims and notice
agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein,
Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq., at
Baker & McKenzie LLP, serve as counsel for the Official Committee
of Equity Security Holders.  Robert M. Hirsh, Esq., and George P.
Angelich, Esq., at Arent Fox LLP, serve as counsel to the Creditors
Committee, and Frederick B. Rosner, Esq., and Brian L. Arban, Esq.,
at the Rosner Law Group LLC, serve as co-counsel.

In October 2011, the Debtors sold substantially all assets to
Point Blank Enterprises, Inc.  The lead debtor changed its name to
SS Body Armor I, Inc., following the sale.


POSITIVEID CORP: Completes Acquisition of Thermo on Dec. 4
----------------------------------------------------------
PositiveID Corporation filed with the Securities and Exchange
Commission on Dec. 7, 2015, a Form 8-K to report that it had
entered into several agreements related to its acquisition of all
of the outstanding common stock of Thermomedics, Inc.

One of those agreements was a Management Services and Control
Agreement, dated Dec. 4, 2015, between the Company, Thermo, and
Sanomedics, Inc., whereby PositiveID was appointed the manager of
Thermo.  In a separate agreement the Company entered into a First
Amendment to the original Stock Purchase Agreement with Sanomedics,
which was entered into on Oct. 21, 2015.  

The original Stock Purchase Agreement as modified by the Amendment
defines the agreed upon terms of the Company's acquisition of all
of the common stock of Thermo from Sanomedics.  The Initial Report
did not include disclosure under Item 2.01 that the acquisition of
all of the outstanding common stock of Thermo was completed by
operation of the Stock Purchase Agreement, Amendment and Control
Agreement.

As a result of the Company assuming control of Thermo on Dec. 4,
2015, it determined, pursuant to ASC 805-10-25-6, that Dec. 4,
2015, was the acquisition date of Thermo for accounting purposes.

                        About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $8.22 million on $945,000 of revenue for the year ended
Dec. 31, 2014, compared with a net loss attributable to common
stockholders of $13.33 million on $0 of revenue for the year ended
Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $1.04 million in total
assets, $10.86 million in total liabilities and a $9.82 million
total stockholders' deficit.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014.  The accounting firm noted that the
Company reported a net loss, and used cash for operating
activities of approximately $7.19 million and $2.57 million
respectively, in 2014.  At Dec. 31, 2014, the Company had a working
capital deficiency, stockholders' deficit and accumulated deficit
of approximately $8.076 million, $8.45 million and $133 million,
respectively.


QUANTUM MATERIALS: Incurs $2.51 Million Net Loss in Second Quarter
------------------------------------------------------------------
Quantum Materials Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.51 million for the three months ended Dec. 31, 2015, compared
to net income of $247,335 for the same period in 2014.

For the six months ended Dec. 31, 2015, the Company reported a net
loss of $3.38 million compared to net income of $151,697 for the
six months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $1.46 million in total assets,
$1.35 million in total liabilities and $112,222 in total
stockholders' equity.

The Company recorded losses from continuing operations in the
current period presented and has a history of losses.  The Company
said its ability to continue as a going concern is dependent upon
its ability to reverse negative operating trends, obtain revenues
from operations, raise additional capital, or obtain debt
financing.

At Dec. 31, 2015, the Company had a working capital deficit of
$458,165, with total current assets and liabilities of $549,713 and
$1,007,878, respectively.  Included in the liabilities is $240,832
that is owed to the Company's officers, directors and employees for
services rendered and accrued through Dec. 31, 2015. Also included
in the liabilities is $225,000 of deferred revenue associated with
a funded product development agreement with a leading global
optical film manufacturer, Nitto Denko Corporation. As a result,
the Company has relied on financing through the issuance of common
stock and convertible debentures as well as advances from a
director and shareholder and employees' wages being partially or
fully accrued but not paid.

A full-text copy of the Form 10-Q is available for free at:

                     http://is.gd/QVKv5B

                    About Quantum Materials

Quantum Materials Corp. and its wholly owned subsidiary, Solterra
Renewable Technologies, Inc. (collectively referred to as the
company) are headquartered in San Marcos, Texas.  The company
specializes in the design, development, production and supply of
quantum dots, including tetrapod quantum dots, a high performance
variant of quantum dots, and highly uniform nanoparticles, using
its patented automated continuous flow production process.


QUEST SOLUTION: Reports Preliminary Revenues for Fiscal Year 2015
-----------------------------------------------------------------
Quest Solution, Inc. released preliminary unaudited revenues for
the full year 2015, ending Dec. 31, 2015.

Gilles Gaudreault, chief executive officer of Quest Solution, Inc,
commented, "This was a milestone year for Quest, involving two
transformative mergers, robust organic growth and reaching
profitability.  Our preliminary unaudited fourth quarter results
are within guidance, and we are encouraged by the improved sales
mix involving a growing percentage of software and services.  This
improving mix is driving margin expansion, and with ample
cross-selling opportunities in development, we are increasingly
confident that 2016 will represent a breakout year for the combined
company."

Preliminary results for the year and 2016 outlook:

* Preliminary unaudited revenues for the year 2015 are
   approximately $63 - 63.5 million, in-line with previously
   provided guidance.
       
* In addition, Quest booked approximately $8 million in deferred
   revenue during 2015, representing sold service contracts, with
   most of the cash already received, and most of this deferred
   revenue will be recognized over the next three years.
       
* As noted earlier in the fourth quarter, the company completed
   the redemption and cancellation of 900,000 common shares from
   the former founder of the company
       
* Management is currently focused on unlocking the many merger
  -related synergies and integration initiatives related to the
   combination with ViascanQData.
       
* The Company's revenue outlook for 2016 suggests the strongest
   year ever for the company from the perspective of revenue,
   margin and product mix

Mr. Gaudreault added, "This was a productive quarter for us, and
while we had a number of normal acquisition and financing
distractions with new partners and the combination with the
Canadian entity, we are excited about what 2016 holds for us."

Scot Ross, chief financial officer of Quest Solution, Inc. added,
"Our independent auditors have been working diligently in our
multiple locations.  The acquisition integration process is well
underway and the executive team is focused on looking at potential
synergies, reducing duplicative costs and continuing to seek new
and innovative ways of delivering the services and products of the
combined companies.  Profitability metrics and audited financial
results will not be available until we have completed our annual
audit and prepared our Form 10-K, but we wanted to provide our
preliminary revenue figures to our shareholders.  We expect to file
our 10-K with the U.S. Securities and Exchange Commission on or
before the March 30, 2016 deadline."

                        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.

Quest Solution reported net income of $302,000 on $37.3 million of
total revenues for the year ended Dec. 31, 2014, compared with a
net loss of $1.12 million on $4,069 of total revenues for the year
ended Dec. 31, 2013.

                            *    *     *

This concludes the Troubled Company Reporter's coverage of Quest
Solution until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at
a level sufficient to warrant renewed coverage.


REALBIZ MEDIA: Incurs $6.68 Million Net Loss in Fiscal 2015
-----------------------------------------------------------
Realbiz Media Group, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$6.68 million on $1.23 million of real estate media revenue for the
year ended Oct. 31, 2015, compared to a net loss of $4.60 million
on $1.09 million of real estate media revenue for the year ended
Oct. 31, 2014.

As of Oct. 31, 2015, RealBiz had $501,473 in total assets, $2.30
million in total liabilities and a $1.80 million total
stockholders' deficit.

D'Arelli Pruzansky, P.A., in Coconut Creek, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Oct. 31, 2015.  The independent
auditors noted that the Company has incurred net losses of
$6,686,182 and $4,605,327 and had cash used in operations of
$1,527,745 and $2,306,959, for the years ended Oct. 31, 2015, and
2014, respectively.  In addition, the Company had an accumulated
deficit of $20,796,181 and a working capital deficit of $1,152,189
at Oct. 31, 2015.  These conditions raise substantial doubt about
the Company's ability to continue as a going concern.  

A full-text copy of the Form 10-K is available for free at:

                      http://is.gd/y6ZxLW

RealBiz Media Group, Inc., is a provider of digital media and
marketing services to the real estate industry, based in Weston,
Florida.  The Company generates revenues from advertising, real
estate broker commissions and referral fees.


RESEARCH SOLUTIONS: Incurs $298,000 Net Loss in Second Quarter
--------------------------------------------------------------
Research Solutions, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $298,425 on $9.31 million of revenue for the three months ended
Dec. 31, 2015, compared to a net loss of $94,176 on $7.93 million
of revenue for the same period in 2014.

For the six months ended Dec. 31, 2015, the Company reported a net
loss of $477,245 on $17.34 million of revenue compared to net
income of $1.05 million on $15.48 million of revenue for the six
months ended Dec. 31, 2014.

As of Dec. 31, 2015, Research Solutions had $7.95 million in total
assets, $6.94 million in total liabilities, all current, and $1.01
million in total stockholders' equity.

As of Dec. 31, 2015, the Company had cash and cash equivalents of
$1,764,126, compared to $1,354,158 as of June 30, 2015, an increase
of $409,968.  This increase was primarily due to cash provided by
operating activities from continuing operations.

A full-text copy of the Form 10-Q is available for free at:

                       http://is.gd/g0EoPf

                     About Research Solutions

Research Solutions, Inc. provides research information services
and software to research-intensive industries in the Life Sciences
and other fields.  The Encino, California-based Company delivers
copyrighted copies of published content, including articles from
published journals, to content users in hard copy or electronic
form.


RETROPHIN INC: Lombard Odier Reports 3.2% Stake
-----------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Lombard Odier Asset Management (USA) Corp disclosed
that as of Dec. 31, 2015, it beneficially owns 1,144,720 shares of
common stock of Retrophin, Inc., representing 3.17 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/LVDAmT

                         About Retrophin

Retrophin, Inc., develops, acquires and commercializes therapies
for the treatment of serious, catastrophic or rare diseases.  The
Company offers Chenodal(R), a treatment for gallstones;
Vecamyl(R), a treatment for moderately severe to severe essential
hypertension and uncomplicated cases of malignant hypertension;
and Thiola, for the prevention of kidney stone formation in
patients with severe homozygous cystinuria.

Retrophin reported a net loss of $111 million in 2014 following a
net loss of $34.6 million in 2013.  As of Sept. 30, 2015, the
Company had $512 million in total assets, $221 million in total
liabilities, and $291 million in total stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2014.  The accounting firm noted that the Company has
suffered recurring losses from operations, used significant
amounts of cash in its operations, and expects continuing future
losses.  In addition, at Dec. 31, 2014, the Company had
deficiencies in working capital and net assets of $70.2 million and
$37.3 million, respectively.  Finally, while the Company was in
compliance with its debt covenants at Dec. 31, 2014, it expects to
not be in compliance with these covenants in 2015.  These matters
raise substantial doubt about the Company's ability to continue as
a going concern, the auditors said.


RICEBRAN TECHNOLOGIES: Amends Loan Agreement with Full Circle
-------------------------------------------------------------
RiceBran Technologies and certain of its subsidiaries entered into
a Waiver and Amendment Agreement with Full Circle Capital
Corporation, according to a Form 8-K report filed with the
Securities and Exchange Commission.  

The Amendment modifies that certain Loan, Guarantee and Security
Agreement dated as of May 12, 2015, by waiving all past defaults
that may have occurred under the Original Agreement.  Further, the
Amendment modified the financial convents to require that:

   (a) from Feb. 1, 2016, to July 15, 2016, the Company maintain
       cash on hand, including availability under its revolving
       loan with the Lender, of not less than $1.5 million
       provided that at least $750,000 of that amount must be in
       the form of cash on hand; and

   (b) the Company maintain an average monthly adjusted EBITDA,
       calculated over each consecutive three-month period
       beginning on January 1, February 1, March 1, April 1 and
       May 1, 2016, of not less than $100,000.  In addition, FCC
       waived for the first two quarters of 2016 any non-
       compliance with the financial covenants described in Items
       21(a), (b), (c), and (f) of the Original Agreement.  

In consideration for the Amendment, the Company paid $75,000 to
FCC.

The Amendment requires that the Company repay $1,000,000 of its
term loan to Lender by the earlier of March 31, 2016, or the date
that funds are released from our escrow with the prior owners of
our Brazilian subsidiary, Industria Riograndese de Oleos Vegetais
Ltda.

                         About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

Ricebran incurred a net loss of $26.6 million in 2014 following a
net loss of $17.6 million in 2013.

As of Sept. 30, 2015, the Company had $35.5 million in total
assets, $27.2 million in total liabilities, $195,000 in temporary
equity and $8.14 million in total equity attributable to the
Company's shareholders.

Marcum, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has suffered recurring
losses from operations resulting in an accumulated deficit of
$242.5 million at Dec. 31, 2014.  This factor among other things,
raises substantial doubt about its ability to continue as a going
concern.


RICEBRAN TECHNOLOGIES: Has $3 Million Registered Direct Offering
----------------------------------------------------------------
RiceBran Technologies announced that it has entered into a
definitive agreement with funds managed by a healthcare focused
institutional investor to purchase $3 million of the Company's
Series F convertible preferred stock in a registered direct
offering.  The Preferred Stock will be convertible into 2,000,000
shares of the Company's Common Stock, based on a fixed conversion
price of $1.50 per share.  In addition, the Company will issue
unregistered warrants to purchase a total of 2,660,000 shares of
Common Stock at a fixed exercise price of $2.00 per share.  The
warrants will be exercisable beginning six months following the
closing date and will expire five years from the date on which they
become exercisable.  The registered direct offering of the
Preferred Stock is expected to close on or about Feb. 22, 2016,
subject to customary closing conditions.
The Company intends to use the aggregate net proceeds from this
offering for general corporate purposes including working capital
to support operations, business development, and product
development in its U.S. and Brazil Segments.

Maxim Group LLC is acting as the sole placement agent for the
transaction.

The Preferred Stock described above is being offered by RiceBran
Technologies pursuant to a registration statement on Form S-3 (File
No. 333-196541) previously filed and declared effective by the
Securities and Exchange Commission.  The Preferred Stock includes a
beneficial ownership blocker but has no dividend rights (except to
the extent dividends are also paid on the common stock),
liquidation preference or other preferences over common stock.  A
prospectus supplement relating to the shares of common stock will
be filed by the Company with the SEC.  When available, copies of
the prospectus supplement, together with the accompanying base
prospectus, can be obtained at the SEC's website at www.sec.gov or
from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY
10174, (212) 895-3745.

The warrants and shares of the Company's common stock issuable upon
exercise of the warrants have not been registered with the SEC and
are being offered in reliance on an exemption from the registration
requirement of the Securities Act of 1933.

                         About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

Ricebran incurred a net loss of $26.6 million in 2014 following a
net loss of $17.6 million in 2013.

As of Sept. 30, 2015, the Company had $35.5 million in total
assets, $27.2 million in total liabilities, $195,000 in temporary
equity and $8.14 million in total equity attributable to the
Company's shareholders.

Marcum, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has suffered recurring
losses from operations resulting in an accumulated deficit of
$242.5 million at Dec. 31, 2014.  This factor among other things,
raises substantial doubt about its ability to continue as a going
concern.


ROCKWELL MEDICAL: Inks License Agreement With Wanbang Biopharma
---------------------------------------------------------------
Rockwell Medical, Inc. has signed exclusive licensing and
manufacturing supply agreements with Wanbang Biopharmaceutical Co.,
Ltd. (Wanbang), a subsidiary of Shanghai Fosun Pharmaceutical
(Group) Co., Ltd., for the rights to commercialize Rockwell's
Triferic and Calcitriol for End-Stage-Renal-Disease (ESRD)
patients, that also includes new therapeutic indications for
Triferic, in the People's Republic of China.  Triferic is
Rockwell's proprietary iron replacement and hemoglobin maintenance
drug for treating anemia. Calcitriol is Rockwell's generic (active
vitamin D) injection for treatment of secondary hyperparathyroidism
in dialysis patients.

Under the terms of the agreement, Wanbang will become the exclusive
distributor for Triferic and Calcitriol in China for an initial
commercial term of 10 years, with an extended term of 10 or more
years based on achievement of annual minimum purchase requirements.
In consideration for the exclusive rights, Rockwell will receive
from Wanbang an upfront fee plus regulatory and revenue milestone
payments totaling USD$39 million in aggregate. Notably, Rockwell
will receive ongoing earnings from product sales of Triferic and
Calcitriol, and other additional Triferic therapeutic indications.
Rockwell retains manufacturing responsibility of all products.
Wanbang is required to achieve annual minimum purchase requirements
to retain exclusive commercialization rights.  In addition to the
hemodialysis indication, Wanbang has the exclusive right to develop
and commercialize Triferic for new therapeutic indications for the
Chinese market.  Wanbang is responsible for all clinical,
regulatory and marketing expenses for Triferic and Calcitriol in
China as well as development and regulatory costs for new Triferic
indications.

"We are thrilled to establish this strategic partnership with
Wanbang," stated Robert L. Chioini, Founder, Chairman and CEO of
Rockwell.  "China has been a top priority in our global Triferic
licensing strategy, and this agreement further validates Triferic's
potential for becoming the world-wide standard of care in iron
maintenance therapy for the treatment of anemia.  This
commercialization arrangement enables Rockwell to enter into and
capitalize on what is projected to become the largest dialysis
market in the world.  There are about 300,000 dialysis patients
currently receiving hemodialysis in China and that market is
expected to double over the next few years as the Chinese
government, in conjunction with the private sector, establishes the
infrastructure to serve the nearly 2 million patients who are
presently in need of hemodialysis but lack access.  We are very
pleased with this commercialization arrangement in which our
primary economic value will be derived from product sales in this
fast-growing Chinese market."  Mr. Chioini further stated, "We are
excited to work with Wanbang, a leading company in the Chinese
healthcare market and one of the key suppliers of biosimilar ESA
product and other drugs in the renal space. Wanbang, and their
experienced team, is highly skilled and intensely focused on
leveraging their business into the forefront of the rapidly growing
domestic dialysis market in China, and we expect them to have great
success selling Triferic and Calcitriol."

Mr. Yifang Wu, chief operating officer of Fosum Pharma, chairman
and CEO of Wanbang, added, "We are very excited to have partnered
with Rockwell Medical and to be able to have the opportunity to
offer such great drugs to the Chinese hemodialysis market.  We
believe Triferic is a revolutionary iron replacement product that
will greatly improve the lives of Chinese dialysis patients and we
intend to work in partnership with Rockwell management to offer it
to patients as fast as possible.  The opportunity to market
Triferic in other therapeutic indications is exciting as well.
Wanbang is committed to addressing the needs of patients and
healthcare providers with a comprehensive range of therapeutic
options across home, in-center and hospital settings.  This
partnership enhances Wanbang's product portfolio with the addition
of Rockwell's high-quality drug products."

Wanbang Biopharmaceuticals is a leading pharmaceutical company in
China that specializes in research, production and marketing of
medicines for endocrinology, cardiovascular disease and renal
diseases.  Wanbang is a subsidiary of Fosun Pharma, which is listed
on the Shanghai Stock Exchange (SHA: 600196) and the Stock Exchange
of Hong Kong Limited (HKG: 02196).  Fosun Pharma, one of the major
shareholders of Sino Pharma (HKG:1099) who is the largest drug
distributor in China, is part of the Fosun Group, the leading
non-state owned enterprise group in China, which is listed on the
Hong Kong stock exchange (HKG:0656).  In addition to its
comprehensive therapeutic product portfolio, Wanbang and Fosun
Pharma have sound relationships with public healthcare institutions
and providers and directly own and operate a network of private
hospitals in China.

                       About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell reported a net loss of $21.3 million in 2014, a net loss
of $48.8 million in 2013 and a net loss of $54.02 million in 2012.

As of Sept. 30, 2015, the Company had $90.9 million in total
assets, $26.5 million in total liabilities and $64.4 million in
total shareholders' equity.


SABINE PASS: Posts $242 Million Net Income for 2015
---------------------------------------------------
Sabine Pass LNG, L.P., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$242 million on $523 million of total revenues for the year ended
Dec. 31, 2015, compared with net income of $257 million on $523
million of total revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Sabine Pass had $1.59 billion in total assets,
$2.19 billion in total liabilities and a partners' deficit of $602
million.

As of Dec. 31, 2015, the Company had $7.60 million of cash and cash
equivalents and $91.1 million of current and non-current restricted
cash, which is restricted to pay interest on the Senior Notes.

A full-text copy of the Form 10-K is available for free at:

                        http://is.gd/Oy2GVb

                         About Sabine Pass

Sabine Pass LNG, L.P. owns, develops and operates an LNG receiving
and regasification terminal in western Cameron Parish, Louisiana.
Based in Houston, the Company's LNG terminal includes existing
infrastructure of five LNG storage tanks with 16.9 Bcfe capacity,
two docks that can hold vessels up to 265,000 cubic meters, and
vaporizers with capacity of 4.0 Bcf/d.


SCIENTIFIC GAMES: Sylebra HK Company Holds 9.6% of Class A Stock
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Sylebra HK Company Limited, Sylebra Capital Management,
Jeffrey Richard Fieler and Daniel Patrick Gibson disclosed that as
of Dec. 31, 2015, they beneficially own 8,250,000 Class A stock of
Scientific Games Corporation
representing 9.58 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at:

                       http://is.gd/EVPbYo

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/        

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million total
stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SEAN SUH'S CARE: Case Summary & 7 Unsecured Creditors
-----------------------------------------------------
Debtor: Sean Suh's Care Homes, Inc.
        8632 Oakbank Way
        Sacramento, CA 95828

Case No.: 16-20912

Chapter 11 Petition Date: February 18, 2016

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Hon. Michael S. McManus

Debtor's Counsel: Peter C. Bronson, Esq.
                  LAW OFFICES OF PETER C. BRONSON
                  770 L Street, Suite 950
                  Sacramento, CA 95814
                  Tel: 916-444-1110

Total Assets: $766,352

Total Liabilities: $1.26 million

Largest unsecured creditor: $Selena So's Care Home, $271,225

The petition was signed by Sean Suh, president and CEO.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/caeb16-20912.pdf


SEMLER SCIENTIFIC: Appeals NASDAQ Delisting Determination
---------------------------------------------------------
Semler Scientific, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it received a Staff
Determination Letter from NASDAQ notifying it that the Company had
not regained compliance with the Rule.  The Letter also stated that
the Company's securities would be scheduled for delisting and would
be suspended at the opening of business on Feb. 18, 2016, unless
the Company requested an appeal of the decision to the Hearings
Panel in accordance with the procedures set forth in the NASDAQ
Listing Rule 5800 Series.  Accordingly, the Company has requested a
hearing before the Panel; this request has already been granted,
and a hearing has been scheduled for March 31, 2016.  Moreover,
under the NASDAQ Listing Rules, and as has already been confirmed
by the Company, this request for a hearing has automatically stayed
the delisting of the Company's common stock pending the issuance of
a determination by the Panel.

On Aug. 11, 2015, the Nasdaq Stock Market notified the Company
that, as of June 30, 2015, the Company's reported stockholders'
equity of $1,698,000 did not meet the $2,500,000 minimum required
to maintain continued listing as set forth in NASDAQ Rule
5550(b)(1), and that as of Aug. 10, 2015, the Company did not meet
the alternative requirements of market value of listed securities
or net income from continuing operations. In accordance with NASDAQ
Rule 5810(c)(2), the Company was given 45 days from the date of the
Notice, or until Sept. 25, 2015, to submit to NASDAQ a plan to
regain compliance with the continued listing requirements.  On
Sept. 18, 2015, the Company submitted its plan to regain compliance
with the continued listing requirements.  By letter dated Oct. 15,
2015, the Company was given until Feb. 8, 2016, to regain
compliance with the Rule.

The Company said there can be no assurances that its appeal will be
successful in regaining compliance with the continued listing
requirements and maintaining its listing of the Company's common
stock on the Nasdaq Capital Market.

                     About Semler Scientific

Semler Scientific, Inc. provides diagnostic and testing services to
healthcare insurers and physician groups.  The Portland,
Oregon-based Company develops, manufactures and markets innovative
proprietary products and services that assist healthcare providers
in evaluating and treating chronic diseases.

As of Sept. 30, 2015, Semler had $3.52 million in total assets,
$2.98 million in total liabilities and $531,000 in total
stockholders' equity.

"We have incurred recurring losses since inception and expect to
continue to incur losses as a result of costs and expenses related
to our marketing and other promotional activities, research and
continued development of our vascular testing product and our
testing service.  Our principal sources of cash have included the
issuance of equity, primarily our February 2014 initial public
offering of common stock, as well as other private placements of
our shares, revenue, and to a lesser extent, borrowings under loan
agreements.  We expect that as our revenues grow, our operating
expenses will continue to grow and, as a result, we will need to
generate significant additional net revenues to achieve
profitability.  For this reason, the Company's independent
registered public accountants' report for the year ended December
31, 2014 included an explanatory paragraph that expresses
substantial doubt about our ability to continue as a "going
concern."  The Company said this doubt continues to exist.


SEMLER SCIENTIFIC: Glenhill Advisors Has 10% Stake as of Dec. 31
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Glenhill Advisors, LLC, Glenn J. Krevlin, Glenhill
Capital Advisors, LLC and Glenhill Capital Management, LLC
disclosed that as of Dec. 31, 2015, they beneficially own 497,864
shares of common stock of Semler Scientific, Inc. representing 10
percent of the shares outstanding.  Glenhill Concentrated Long
Master Fund also reported beneficial ownership of 480,659 shares.
A copy of the regulatory filing is available for free at:

                       http://is.gd/4Hu5iP

                     About Semler Scientific

Semler Scientific, Inc. provides diagnostic and testing services to
healthcare insurers and physician groups.  The Portland,
Oregon-based Company develops, manufactures and markets innovative
proprietary products and services that assist healthcare providers
in evaluating and treating chronic diseases.

As of Sept. 30, 2015, Semler had $3.52 million in total assets,
$2.98 million in total liabilities and $531,000 in total
stockholders' equity.

"We have incurred recurring losses since inception and expect to
continue to incur losses as a result of costs and expenses related
to our marketing and other promotional activities, research and
continued development of our vascular testing product and our
testing service.  Our principal sources of cash have included the
issuance of equity, primarily our February 2014 initial public
offering of common stock, as well as other private placements of
our shares, revenue, and to a lesser extent, borrowings under loan
agreements.  We expect that as our revenues grow, our operating
expenses will continue to grow and, as a result, we will need to
generate significant additional net revenues to achieve
profitability.  For this reason, the Company's independent
registered public accountants' report for the year ended December
31, 2014 included an explanatory paragraph that expresses
substantial doubt about our ability to continue as a "going
concern."  The Company said this doubt continues to exist.


SEMLER SCIENTIFIC: Reports 2015 Annual and Q4 Financial Results
---------------------------------------------------------------
Semler Scientific, Inc., reported a net loss of $4.20 million on
$2.93 million of revenue for the three months ended Dec. 31, 2015,
compared to a net loss of $1.20 million on $1.05 million of revenue
for the same period in 2014.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $8.50 million on $7 million of revenue compared to a net loss of
$4.51 million on $3.63 million of revenue for the year ended Dec.
31, 2014.

As of Dec. 31, 2015, the Company had $3.07 million in total assets,
$4.15 million in total liabilities and a stockholders' deficit of
$1.07 million.

"Semler reported outstanding year over year revenue growth of 93%
and sequential quarter over quarter revenue growth of 88%, albeit
with a net loss and low cash position," said Doug Murphy-Chutorian,
M.D., chief executive officer of Semler.  "At the end of 2015, we
implemented additional steps to further reduce our future fixed
operating expenses and in early 2016, we issued promissory notes to
obtain additional capital of $1,500,000," he added.  "The
combination of reasonably priced capital, expense reduction and
continued annual revenue growth of our QuantaFlo business are
intended to help Semler achieve profitability and cash flow from
operations as soon as possible with minimal shareholder dilution,'
he concluded.

A full-text copy of the press release is available for free at:

                      http://is.gd/kvo3vl

                    About Semler Scientific

Semler Scientific, Inc. provides diagnostic and testing services to
healthcare insurers and physician groups. The Portland,
Oregon-based Company develops, manufactures and markets innovative
proprietary products and services that assist healthcare providers
in evaluating and treating chronic diseases.

As of Sept. 30, 2015, Semler had $3.52 million in total assets,
$2.98 million in total liabilities and $531,000 in total
stockholders' equity.

"We have incurred recurring losses since inception and expect to
continue to incur losses as a result of costs and expenses related
to our marketing and other promotional activities, research and
continued development of our vascular testing product and our
testing service. Our principal sources of cash have included the
issuance of equity, primarily our February 2014 initial public
offering of common stock, as well as other private placements of
our shares, revenue, and to a lesser extent, borrowings under loan
agreements.  We expect that as our revenues grow, our operating
expenses will continue to grow and, as a result, we will need to
generate significant additional net revenues to achieve
profitability.  For this reason, the Company's independent
registered public accountants' report for the year ended December
31, 2014 included an explanatory paragraph that expresses
substantial doubt about our ability to continue as a "going
concern."  The Company said this doubt continues to exist.


ST. JUDE NURSING: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: St. Jude Nursing Center, Inc.
           dba St. Francis Nursing Center
        721 Elmwood
        Troy, MI 48083

Case No.: 16-42116

Nature of Business: Health Care

Chapter 11 Petition Date: February 18, 2016

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Hon. Thomas J. Tucker

Debtor's Counsel: Michael E. Baum, Esq.
                  SCHAFER AND WEINER, PLLC
                  40950 Woodward Ave., Suite 100
                  Bloomfield Hills, MI 48304
                  Tel: (248) 540-3340
                  Email: mbaum@schaferandweiner.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: Rehabilitation Masters/
Caleb Simon, $135,435

The petition was signed by Bradley Mali, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mieb16-42116.pdf


STANDARD INDUSTRIES: Moody's Confirms Ba2 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service confirmed Standard Industries Inc.'s
("Standard" and fka Building Materials Corporation of America) Ba2
Corporate Family Rating and Ba2-PD Probability of Default Rating
following the company's previous announcement that it is acquiring
Icopal. In related rating actions, Moody's confirmed the Ba2 rating
assigned to Standard's unsecured notes and assigned a Ba2 to its
proposed $650 million senior unsecured notes. Proceeds from the
proposed debt issuance along with cash on hand will be used for the
acquisition of Icopal. The rating outlook is stable. This completes
the review Moody's initiated on January 25, 2016.

Standard is acquiring Icopal A/S, a pan-European manufacturer of
roofing and other waterproofing products with about revenues of
EUR1 billion ($1.1 billion), from Investcorp Ltd. for approximately
EUR1 billion. On a pro forma basis, the combined company will have
about $4 billion in sales, market exposure to Europe, and access to
new products.

The following ratings are affected by this action:

Corporate Family Rating confirmed at Ba2;

Probability of Default Rating confirmed at Ba2-PD;

Senior Unsecured Notes due 2024 confirmed at Ba2 (LGD4);

Senior Unsecured Notes due 2025 confirmed at Ba2 (LGD4);

Senior Unsecured Notes assigned Ba2 (LGD4).

RATINGS RATIONALE

The Ba2 Corporate Family Rating remains appropriate at this time
due to Standard's robust liquidity profile, characterized by cash
on hand and revolver availability, aggregating to about $1.0
billion at seasonal low point. The company is committed to
maintaining substantial liquidity at all times. Moody's expects
Standard to maintain strong operating margins, despite Icopal
generating lower margins than Standard. The acquisition of Icopal
boosts Standard's already-strong market position in both the US and
European roofing repair sectors, which both offer stable demand
within the remodeling space.

The rating also considers the potential for integration challenges.
Standard is entering new markets within Europe where labor laws and
building codes are very different from the US. The company will
have to contend with new supply and distribution channels. Also,
the company's balance sheet debt is increasing by $650 million,
bringing total adjusted balance sheet debt to about $3.1 billion on
a pro forma basis (including Moody's adjustments for operating
leases and pension liabilities). Moody's estimates a deterioration
in debt credit metrics, with adjusted debt-to-EBITDA worsening to
the 3.75x -- 4.0x range (pro forma) from about 3.5x at FY15. In
addition, adjusted interest coverage (measured as EBITA-to-interest
expense) falls moderately to around 3.75x (pro forma) from about
4.1x for FY15. However, Moody's recognizes that Standard should
continue to generate free cash flow (excluding dividends)
throughout the year in spite of higher debt service requirements
and working capital needs, giving the company financial flexibility
to contend with potential labor or market disruptions while
servicing its basic cash obligations.

The stable rating outlook reflects Standard's commitment to
maintaining its robust liquidity profile. Moody's expectation for
solid operating performance over the next 12 to 18 months should
translate into better debt credit metrics that remain supportive of
the current ratings.

Moody's does not anticipate positive rating actions over
intermediate term, since Standard's key debt credit metrics are
stretched from the Icopal acquisition. However, positive ratings
momentum could occur if the Standard successfully integrates Icopal
and benefits from growth in its end markets, resulting in operating
performance that exceeds Moody's forecasts and yields the following
credit metrics:

-- Debt-to-EBITDA sustained below 3.0x (3.75x - 4.0x pro forma)

-- EBITA-to-interest expense sustained above 4.5x (3.75x pro
    forma)

-- Free cash flow-to-debt consistently above 10% (10.0% for FY15)

Negative rating pressures could ensue if Standard's operating
performance falls below expectations or if the company faces
unforeseen challenges with the integration of Icopal, resulting in
the following credit metrics (ratios include Moody's standard
adjustments) and characteristics:

-- Debt-to-EBITDA sustained above 4.25x

-- EBITA-to-interest expense remains below 3.0x

-- Significant deterioration in the company's liquidity profile

-- Larger than projected shareholder distributions

-- Large debt-financed acquisitions

The Ba2 rating assigned to the proposed $650 million unsecured
notes reflects Moody's expectations that these notes will have
similar terms and conditions including guarantees as Standard's
other notes, ranking pari passu with each other in a recovery
scenario.

Standard Industries Inc. (fka Building Materials Corporation of
America), headquartered in Parsippany, NJ, operates under the trade
name GAF and is a national manufacturer and marketer of roofing
products and accessories for the residential and commercial roofing
markets. Trusts for the benefit of the heirs of Ronnie F. Heyman
are the owners of the company. Upon completing the acquisition of
Icopal, Standard will be one of the largest producers of roofing
and related products in Europe as well. Annualized revenues on a
pro forma basis total approximately $4.0 billion.


STAR COMPUTER: Exclusive Plan Filing Period Extended to March 10
----------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida has extended (i) the period during
which Star Computer Group, Inc., has the exclusive right to file a
Chapter 11 plan and disclosure statement to March 10, 2016, and
(ii) the period during which the Debtor has the exclusive right to
solicit acceptances of the plan until May 11, 2016.

On Feb. 4, 2016, the Debtor sought the extensions, saying that it
is formulating its exit strategy, and that it continues to move
toward its goal of proposing a viable Chapter 11 plan that will
utilize proceeds from a sale of substantially all of its assets.
The Debtor assured the Court that it has been conducting good faith
negotiations with its creditors, and that it is not seeking to use
exclusivity to pressure creditors into accepting a plan they find
unacceptable.  The Debtor said that extending exclusivity will
allow it the opportunity to attempt to resolve issues raised by its
creditors.

                    About Star Computer Group

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry
Aguilar (46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


STAR COMPUTER: Judge Grants Committee's Bid to Sue Officers
-----------------------------------------------------------
The official committee of unsecured creditors received court
approval to prosecute claims against Star Computer Group Inc.'s
directors and officers on behalf of the company.

The order, issued by U.S. Bankruptcy Judge A. Jay Cristol, allowed
the committee to prosecute the claims, which are covered by a
director and officer liability policy issued by Scottsdale
Indemnity Co.

                    About Star Computer Group

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


STRATA SKIN: Great Point No Longer Holds Common Shares
------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Great Point Partners, LLC, Dr. Jeffrey R. Jay, M.D.
and Mr. David Kroin disclosed that as of Dec. 31, 2015, they have
ceased to beneficially own shares of common stock of STRATA Skin
Sciences, Inc.  A copy of the regulatory filing is available for
free at http://is.gd/A3TaQM

                    About STRATA Skin Sciences

STRATA Skin Sciences (formerly MELA Sciences, Inc.) is a medical
technology company focused on the therapeutic and diagnostic
dermatology market.  Its products include the XTRAC laser and VTRAC
excimer lamp systems utilized in the treatment of psoriasis,
vitiligo and various other skin conditions; and the MelaFind system
used to assist in the identification and management of melanoma.

The Company reported a net loss of $14.1 million on $915,000 of net
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $26.0 million on $536,000 of net revenues in the prior year.

EisnerAmper LLP, issued a "going concern" qualification in its
report on the consolidated financial statements for the year ended
Dec. 31, 2014, citing that the Company has not yet established an
ongoing source of revenue sufficient to cover its operating costs
and has suffered recurring losses from operations.


TARGETED MEDICAL: Tom Wenkart Reports 16.9% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Thomas Richard Wenkart disclosed that as of Dec. 31,
2015, he beneficially owns 4,694,330 shares of common stock of
Targeted Medical Pharma, Inc. representing 16.93 percent of the
shares outstanding.  Derma Medical Systems Inc. also reported
beneficial ownership of 4,274,330 shares.  A copy of the regulatory
filing is available at http://is.gd/Nl3RqS

                     About Targeted Medical

Los Angeles, Calif.-based Targeted Medical Pharma, Inc., is a
specialty pharmaceutical company that develops and commercializes
nutrient- and pharmaceutical-based therapeutic systems.

Targeted Medical reported a net loss of $3.89 million on $7.11
million of total revenue for the year ended Dec. 31, 2014, compared
to a net loss of $9.33 million on $9.55 million of total revenue in
2013.

As of Sept. 30, 2015, the Company had $2.44 million in total
assets, $14.8 million in total liabilities and a total
stockholders' deficit of $12.33 million.

Marcum LLP, in Irvine, CA, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2014, citing that the Company has incurred significant net
losses since its inception.  The Company had an accumulated deficit
of $26.9 million and negative working capital of $11.8 million as
of Dec. 31, 2014.  In addition, the Company has incurred net losses
since inception and incurred a net loss of $3.90 million for the
year ended Dec. 31, 2014.  The foregoing matters raise substantial
doubt about the Company's ability to continue as a going concern.


TECHPRECISION CORP: MAZ Partners Reports 5% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, MAZ Partners LP and MAZ Capital Advisors, LLC disclosed
that as of Dec. 31, 2015, they beneficially own
1,378,723 shares of common stock of TechPrecision Corporation
representing 5 percent of the shares outstanding.  Walter Schenker
also reported beneficial ownership of 1,327,423 shares.  A copy of
the regulatory filing is available at http://is.gd/3dF884

                    About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly owned
subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components
Co., Ltd., globally manufactures large-scale, metal fabricated and
machined precision components and equipment.

TechPrecision reported a net loss of $3.58 million for the year
ended March 31, 2015, compared to a net loss of $7.09 million for
the year ended March 31, 2014.

Marcum LLP, in Bala Cynwyd, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended March 31, 2015, citing that the Company has suffered
recurring losses from operations, and the Company's liquidity may
not be sufficient to meet its debt service requirements as they
come due over the next twelve months.  These circumstances raise
substantial doubt about the Company's ability to continue as a
going concern.


TECHPRECISION CORP: Posts $12,000 Net Income in Third Quarter
-------------------------------------------------------------
Techprecision Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $12,003 on $3.50 million of net sales for the three months ended
Dec. 31, 2015, compared with a net loss of $945,718 on $3.51
million of net sales for the same period in 2014.

For the nine months ended Dec. 31, 2015, the Company reported net
income of $472,960 on $11.98 million of net sales compared to a net
loss of $2.86 million on $14.31 million of net sales for the nine
months ended Dec. 31, 2014.

"This was another quarter of operational and financial progress as
we delivered our third consecutive quarter of net profit and
increased our sales order backlog by approximately $6 million in
the last nine months to $20.5 million at December 31, 2015," stated
Alexander Shen, TechPrecision's chief executive officer.
"We improved profitability in the third quarter of fiscal 2016 on a
sales volume that was essentially the same as the year-ago quarter,
with net profit of $12,000 compared to a net loss of $946,000 for
the third quarter of fiscal 2015.  We achieved these results with
our consistent sharp focus on productivity initiatives, resource
realignment, and top line growth with key customers.  Furthermore,
we renegotiated terms on one of our outstanding loans which
contributed to a $2.5 million improvement in our working capital
position since fiscal 2015 year-end."

"Moving forward, we intend to maintain the sharp focus that led us
to this point of our recovery," continued Mr. Shen.  "We plan to
replenish our backlog and continue to focus on new business
contracts with our core customers which utilize our core
competencies in custom, large scale, high precision fabrication and
machining, and leverage our established expertise, certifications,
and qualifications in the defense, nuclear, and precision
industrial sectors.  We must continue to execute and maintain
operational run rate improvements to improve our gross margins, and
increase the amount of cash generated from operations."

As of Dec. 31, 2015, the Company had $11.04 million in total
assets, $10.24 million in total liabilities and $807,511 in total
stockholders' equity.

"We were successful in amending the TLSA with Revere to extend its
maturity date.  The TLSA was to expire on December 31, 2015 and was
amended in January 2016, with the term of the TLSA extended to
January 22, 2018.  Our LSA with Utica matures on November 30, 2018.
We believe that we will have sufficient cash to fund our
operations, capital expenditures and principal and interest
payments under our debt obligations through the next twelve months.
Our liquidity is highly dependent on our available financing
facilities and our ability to sustain our gross profit margins.  If
we do not execute on our business plans, improve gross profit and
operating income, and reduce our operating costs, then our
available cash may not be sufficient to fund our operations,
capital expenditures and principal and interest payments under our
debt obligations through the next twelve months.  We may need to
secure additional acceptable financing facilities before 2018.
These factors raise substantial doubt about our ability to continue
as a going concern," the Company stated in the Form 10-Q.

At Dec. 31, 2015, TechPrecision had positive working capital of
$443,000 compared to negative working capital of $2.1 million at
March 31, 2015.  The Company had $816,000 in cash and cash
equivalents at Dec. 31, 2015, compared to $1.3 million at
March 31, 2015.  Since the end of the third quarter, cash and cash
equivalents have increased to approximately $1.3 million at
Jan. 31, 2016.

A full-text copy of the Form 10-Q is available for free at:

                    http://is.gd/LwDWdt

                    About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly owned
subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components
Co., Ltd., globally manufactures large-scale, metal fabricated and
machined precision components and equipment.

TechPrecision reported a net loss of $3.58 million for the year
ended March 31, 2015, compared to a net loss of $7.09 million for
the year ended March 31, 2014.

Marcum LLP, in Bala Cynwyd, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended March 31, 2015, citing that the Company has suffered
recurring losses from operations, and the Company's liquidity may
not be sufficient to meet its debt service requirements as they
come due over the next twelve months.  These circumstances raise
substantial doubt about the Company's ability to continue as a
going concern.


TECHPRECISION CORP: Somerset Reports 6.4% Stake as of Dec. 31
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Somerset Capital Advisers, LLC and Michael Schaenen
disclosed that as of Dec. 31, 2015, they beneficially own
1,743,129 shares of common stock of Techprecision Corporation
representing 6.4 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/7ahUJI

                    About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly owned
subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components
Co., Ltd., globally manufactures large-scale, metal fabricated and
machined precision components and equipment.

TechPrecision reported a net loss of $3.58 million for the year
ended March 31, 2015, compared to a net loss of $7.09 million for
the year ended March 31, 2014.

Marcum LLP, in Bala Cynwyd, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended March 31, 2015, citing that the Company has suffered
recurring losses from operations, and the Company's liquidity may
not be sufficient to meet its debt service requirements as they
come due over the next twelve months.  These circumstances raise
substantial doubt about the Company's ability to continue as a
going concern.


TRAVELPORT WORLDWIDE: Angelo Gordon Reports 8.9% Stake
------------------------------------------------------
Angelo, Gordon & Co., L.P. and Michael L. Gordon reported in an
amended Schedule 13G filed with the Securities and Exchange
Commission that as of Dec. 31, 2015, they beneficially own
10,986,980 shares of common stock of Travelport Worldwide Limited
representing 8.96 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/UMnrcc

                    About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions for
the global travel and tourism industry.

As of Sept. 30, 2015, the Company had $2.93 billion in total
assets, $3.29 billion in total liabilities and a $359 million total
deficit.

                           *     *     *

As reported by the TCR in March 2015, Standard & Poor's Ratings
Services raised to 'B' from 'B-' its long-term corporate credit
rating on U.K.-based travel services provider Travelport Worldwide
Ltd.  The rating action reflects Travelport's good operating
performance in 2014.


TRAVELPORT WORLDWIDE: Blackstone, et al., Hold 6.2% Stake
---------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Travelport Intermediate Limited, TDS Investor (Cayman)
L.P., Blackstone Capital Partners (Cayman) V L.P., et al.,
disclosed that as of Dec. 31, 2015, they beneficially own 7,604,740
common shares of Travelport Worldwide Limited representing 6.2
percent of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/TAuNCo

                     About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions for
the global travel and tourism industry.

As of Sept. 30, 2015, the Company had $2.93 billion in total
assets, $3.29 billion in total liabilities and a $359 million total
deficit.

                           *     *     *

As reported by the TCR in March 2015, Standard & Poor's Ratings
Services raised to 'B' from 'B-' its long-term corporate credit
rating on U.K.-based travel services provider Travelport Worldwide
Ltd.  The rating action reflects Travelport's good operating
performance in 2014.


TRAVELPORT WORLDWIDE: Posts $16 Million Net Income for 2015
-----------------------------------------------------------
Travelport Worldwide Limited filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing
net income attributable to the Company of $16 million on $2.22
billion of net revenue for the year ended Dec. 31, 2015, compared
to net income attributable to the Company of $86 million on $2.14
billion of net revenue for the year ended Dec. 31, 2014.

For the three months ended Dec. 31, 2015, the Company reported net
income attributable to the Company of $5 million on $535 million of
net revenue compared to a net loss attributable to the Company of
$43 million on $496 million of net revenue for the same period in
2014.

As of Dec. 31, 2015, Travelport had $2.92 billion in total assets,
$3.25 billion in total liabilities and a total deficit of $323
million.

Gordon Wilson, president and CEO of Travelport, commented:

"In 2015, we saw strong underlying progress across the entire
business, resulting in financial performance ahead of guidance and
with real growth momentum carrying forward to 2016.  Our
performance in Air was especially pleasing as our merchandising
innovations continue to facilitate commercial success, helping us
to overcome nearly all of the headwinds from our legacy Orbitz
contract.  In Beyond Air, which grew by 21% in Q4, we expanded our
content leadership position in hospitality and achieved a record
attachment rate of 50% this past quarter.  Our fast-growing
payments business, eNett, continues its upward trajectory and has
seen considerable momentum into 2016 with the business achieving a
record month of revenue in January.  We are also seeing progress in
other parts of our digital asset portfolio that includes MTT, our
recently acquired mobile commerce business, as well as Locomote and
Hotelzon.  With these innovations, we are uniquely positioned to
capture the new opportunities in the digital travel economy, and I
re-affirm the positive outlook for Travelport as expressed in our
guidance for 2016."

A full-text copy of the Form 10-K is available for free at:

                     http://is.gd/2MQQG2

                  About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions for
the global travel and tourism industry.

                           *     *     *

As reported by the TCR in March 2015, Standard & Poor's Ratings
Services raised to 'B' from 'B-' its long-term corporate credit
rating on U.K.-based travel services provider Travelport Worldwide
Ltd.  The rating action reflects Travelport's good operating
performance in 2014.


TRUVEN HEALTH: Moody's Reviews 'B3' Corp. Family Rating for Upgrade
-------------------------------------------------------------------
Moody's Investors Service placed the ratings of Truven Health
Analytics Inc. under review for upgrade, including the company's B3
Corporate Family Rating and B3-PD Probability of Default Rating.
Instrument ratings placed under review for upgrade include the B1
senior secured first lien credit facilities' rating and Caa2 senior
unsecured notes' rating. This action follows the announcement that
IBM Watson Health, a division of International Business Machines
Corp. ("IBM") has announced plans to acquire Truven in a
transaction valued at approximately $2.6 billion.

Moody's understands that the transaction is expected to close later
in 2016, subject to satisfaction of regulatory reviews and
customary closing conditions. Moody's review will focus on the
treatment of Truven's debt within IBM's capital structure,
including the evaluation of any support mechanisms related to
Truven's debt. In the event the debt is repaid, Moody's will
withdraw all of Truven's ratings. If the debt remains outstanding
and IBM does not either guarantee the debt or provide stand-alone
financial information for Truven, Moody's would likely withdraw
Truven's ratings due to insufficient financial information.

The following ratings were placed under review for upgrade:

Truven Health Analytics, Inc.:

Corporate Family Rating, B3

Probability of Default Rating, B3-PD

Senior secured bank credit facilities, B1 (LGD 3)

Senior unsecured notes, Caa2 (LGD 5)

RATINGS RATIONALE

The review for upgrade is based upon Moody's view that, should the
acquisition by IBM be consummated, that Truven will become part of
an enterprise with a stronger overall credit profile (and hence a
potentially higher rating) than if Truven remains a standalone
company.

Excluding the possible acquisition by IBM, Truven's current B3
Corporate Family Rating reflects its high financial leverage, small
absolute size based on revenue and earnings, and weak cash flow and
interest coverage metrics. However, the company's credit profile
benefits from its leading market presence, its good customer and
product diversity, and largely recurring revenue base due to the
multi-year nature of its contracts with solid client retention
rates. Over the intermediate-term, we expect the company to benefit
from favorable industry fundamentals and regulatory requirements
imposed by federal and state governments, as well as from an
increase in pay-for performance initiatives on behalf of commercial
payors. Supporting the rating is the recurring nature of the
company's subscription-based contracts, the majority of which are
multi-year in nature. In addition, while the industry has few legal
barriers to entry, the company's leading market presence, excellent
reputation, and a database that is difficult to quickly replicate
provide it with a powerful and defensible position within this
niche market segment. Truven is exposed to leveraging event risks
under private equity ownership.

Headquartered in Ann Arbor, Michigan, Truven Health Analytics Inc.
is a leading provider of data and analytics solutions and services
to healthcare constituents throughout the U.S. The company's data
and analytics products provide its customers with solutions to
identify cost savings, improve outcomes, fight fraud and abuse and
increase operational efficiencies. The company's primary customers
include payers (i.e. government agencies, employers, health plans,
and pharmaceutical companies), hospitals, and clinicians. Truven is
privately held by private-equity firm, Veritas Capital. The company
generates annual revenues of approximately $600 million.


VENOCO INC: S&P Lowers CCR to 'D' on Missed Interest Payment
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
ratings on Denver-based Venoco Inc. and parent company Denver
Parent Corp. to 'D' from 'CCC+'

S&P said, "We also lowered the issue-level rating on the companies'
senior unsecured notes to 'D' from 'CCC-'. The recovery rating on
all the notes remains '6', indicating our expectation of negligible
(0% to 10%) recovery in the event of default."

"The 'D' rating reflects Venoco's announcement that it has elected
not to make the interest payment on its 8.875% senior notes due
2019," said Standard & Poor's credit analyst Aaron McLean. "We
don't believe the company will not make this payment before the
30-day grace period ends on March 17, 2016," he added.


VYCOR MEDICAL: Fountainhead Holds 69.7% of Preferred Shares
-----------------------------------------------------------
Fountainhead Capital Management Limited reported in an amended
Schedule 13D filed with the Securities and Exchange Commission that
as of Feb. 5, 2016, it beneficially owns 181,994 7% Series D
Convertible Redeemable Preferred Stock, par value $0.0001, of
Vycor Medical, Inc., representing 69.68 percent of the shares
outstanding.  The Reporting Person received 6,154 shares of Company
7% Series D Convertible Redeemable Preferred Stock par value
$0.0001 as a result of a stock dividend on the shares of Company
Series D held by it.  A copy of the regulatory filing is available
for free at http://is.gd/HVF0xW

                         About Vycor Medical

Boca Raton, Fla.-based Vycor Medical, Inc. (OTC BB: VYCO)
-- http://www.VycorMedical.com/-- is a medical device company
committed to making neurological brain, spinal and other surgical
procedures safer and more effective.  The Company's flagship,
Patent Pending ViewSite(TM) Surgical Access Systems represent an
exciting new minimally invasive access and retraction system that
holds the potential for speedier, safer and more economical brain,
spinal and other surgeries and a quicker patient discharge.
Vycor's innovative medical instruments are designed to optimize
neurosurgical site access, reduce patient risk, accelerate
recovery, and add tangible value to the professional medical
community.

Vycor reported a net loss of $4.04 million in 2014, a net loss of
$2.44 million in 2013 and a net loss of $2.93 million in 2012.

As of Sept. 30, 2015, the Company had $2.38 million in total
assets, $867,046 in total liabilities, all current, and $1.51
million in total stockholders' equity.


VYCOR MEDICAL: Peter Zachariou Holds 25.7% of Preferred Shares
--------------------------------------------------------------
Peter C. Zachariou disclosed in an amended Schedule 13D filed with
the Securities and Exchange Commission that as of Feb. 5, 2016, he
beneficially owns 67,138 7% Series D Convertible Redeemable
Preferred Stock Par Value $0.0001 of Vycor MedicalL, Inc.,
representing 25.7 percent of the shares outstanding.  The Reporting
Person received 2,270 shares of Company 7% Series D Convertible
Redeemable Preferred Stock par value $0.0001 as a result of a stock
dividend on the shares of Company Series D held by it.  A copy of
the regulatory filing is available for free at:

                       http://is.gd/nR5sgJ

                        About Vycor Medical

Boca Raton, Fla.-based Vycor Medical, Inc. (OTC BB: VYCO)
-- http://www.VycorMedical.com/-- is a medical device company
committed to making neurological brain, spinal and other surgical
procedures safer and more effective.  The Company's flagship,
Patent Pending ViewSite(TM) Surgical Access Systems represent an
exciting new minimally invasive access and retraction system that
holds the potential for speedier, safer and more economical brain,
spinal and other surgeries and a quicker patient discharge.
Vycor's innovative medical instruments are designed to optimize
neurosurgical site access, reduce patient risk, accelerate
recovery, and add tangible value to the professional medical
community.

Vycor reported a net loss of $4.04 million in 2014, a net loss of
$2.44 million in 2013 and a net loss of $2.93 million in 2012.

As of Sept. 30, 2015, the Company had $2.38 million in total
assets, $867,046 in total liabilities, all current, and $1.51
million in total stockholders' equity.


W/S PACKAGING: Moody's Cuts Corporate Family Rating to 'Caa2'
-------------------------------------------------------------
Moody's Investors Service downgraded the corporate family rating
(CFR) of W/S Packaging Group, Inc. to Caa2 from B3 and the
probability of default rating (PDR) to Caa3-PD from Caa1-PD.
Moody's also downgraded the ratings on the senior secured credit
facilities to Caa1 from B2. The ratings outlook remains negative.

The downgrade reflects weaker-than-expected operating performance
in the first two quarters of fiscal 2016 that prompted an equity
cure to avoid a covenant breach. The downgrade also reflects
expectations that liquidity will remain weak as the covenant steps
down again in March and December of 2016, leaving little headroom
for negative variance in operating performance.

Moody's downgraded the following ratings for W/S Packaging Group,
Inc.:

-- Corporate Family Rating to Caa2 from B3

-- Probability of Default Rating to Caa3-PD from Caa1-PD

-- Senior secured bank credit facilities to Caa1, LGD2 from B2,
    LGD2

Outlook, Remains Negative

RATINGS RATIONALE

The downgrade reflects the increased likelihood of covenant
violation resulting from lower-than-expected earnings and
contraction in margins that has left the company no headroom under
the financial covenant. The Caa2 corporate family rating reflects
expectations of further pressure on margins and earnings as new
customer wins are taking longer than expected while base business
declined and the company continues to lose volumes due to the
discontinuation of a cup product by a key customer. According to
the terms of the credit agreement, W/S Packaging can use another
equity cure, if necessary, when the covenant steps down again in
March 2016. Nevertheless, it would need to demonstrate significant
improvement in earnings, right size its operations in line with
weaker growth and/or restructure its credit facility in order to
more permanently increase headroom under its covenants and improve
liquidity. The company can use two cures in a four quarter period
and the credit agreement limits equity cures to five. Any negative
variance in unit volumes or operating performance could adversely
impact credit metrics and further strain liquidity and increase the
likelihood of default.

The negative outlooks reflects expectations that credit metrics and
liquidity will remain weak until the company demonstrates
significant improvement in operating performance or restructures
its credit facility.

The ratings could be downgraded further if there is no improvement
in operating performance. Specifically, the rating could be
downgraded if free cash flow remains negative, operating margins
continue to decline and the headroom under the financial covenant
does not improve. The outlook could be stabilized, if the company,
improves financial performance or restructures the credit
facilities, so that cushion under the financial covenant improves.
The upgrade is unlikely at this time, but if performance improves,
the upgrade would be predicated on the company generating positive
free cash flow while maintaining debt/EBITDA below 6x.

Headquartered in Green Bay, WI, W/S Packaging Group, Inc is a
provider of pressure sensitive labels, flexible film packaging and
other packaging solutions for the food and beverage, health and
beauty, and consumer products markets. Revenue for the twelve
months ended December 31, 2015 was approximately $443 million. W/S
has been a portfolio company of J.W. Childs Associates, L.P. since
2006.


WAFERGEN BIO-SYSTEMS: James Flynn Holds 0.51% Stake
---------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, James E. Flynn disclosed that as of Dec. 31, 2015, he
beneficially owns 73,592 shares of common stock of WaferGen
Bio-systems, Inc., (comprised of warrants to purchase 73,592 shares
of common stock held by Deerfield Private Design Fund II, L.P. and
Deerfield Private Design International II, L.P.), representing 0.51
percent of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/45jfrM

                  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 Bio-systems reported a net loss of $10.7 million in 2014,
a net loss of $16.3 million in 2013 and a net loss of $8.97
million in 2012.

As of Sept. 30, 2015, the Company had $10.65 million in total
assets, $7.66 million in total liabilities and $2.99 million in
total stockholders' equity.


WAFERGEN BIO-SYSTEMS: Landlord Terminates Headquarters Lease
------------------------------------------------------------
WaferGen Bio-systems, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it received written notice
from LBA Realty Fund III-Company VII, LLC, the landlord for the
Company's headquarters at 7400 Paseo Padre Drive, Fremont,
California, that the Company's lease dated as of Oct. 22, 2009, as
amended, is being terminated effective April 9, 2016.  Pursuant to
the terms of the Lease, LBA has the right to terminate the Lease
for any reason on 60 days written notice to the Company.

The Company expects to secure acceptable alternative space for its
headquarters without any material interruption or effect to its
business.

                   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 Bio-systems reported a net loss of $10.7 million in 2014,
a net loss of $16.3 million in 2013 and a net loss of $8.97
million in 2012.

As of Sept. 30, 2015, the Company had $10.65 million in total
assets, $7.66 million in total liabilities and $2.99 million in
total stockholders' equity.


WAFERGEN BIO-SYSTEMS: Manchester Mgmt. No Longer a Shareholder
--------------------------------------------------------------
Manchester Management Company, LLC and James E. Besser reported in
an amended Schedule 13G filed with the Securities and Exchange
Commission that as of Dec. 31, 2015, they have ceased to
beneficially own shares of common stock of WaferGen Bio-systems,
Inc.  A copy of the regulatory filing is available for free at
http://is.gd/W22uZo

                      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 Bio-systems reported a net loss of $10.7 million in 2014,
a net loss of $16.3 million in 2013 and a net loss of $8.97
million in 2012.

As of Sept. 30, 2015, the Company had $10.65 million in total
assets, $7.66 million in total liabilities and $2.99 million in
total stockholders' equity.


WAFERGEN BIO-SYSTEMS: RA Capital Reports 3.9% Stake as of Dec. 31
-----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, RA Capital Management, LLC and Peter Kolchinsky
disclosed that as of Dec. 31, 2015, they beneficially own 560,000
shares of common stock of Wafergen Bio-Systems, Inc., representing
3.9 percent of the shares outstanding.  RA Capital Healthcare Fund,
L.P. also reported beneficial ownership of 462,560 shares.  A copy
of the regulatory filing is available at:

                        http://is.gd/mTOm1g

                     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 Bio-systems reported a net loss of $10.7 million in 2014,
a net loss of $16.3 million in 2013 and a net loss of $8.97
million in 2012.

As of Sept. 30, 2015, the Company had $10.65 million in total
assets, $7.66 million in total liabilities and $2.99 million in
total stockholders' equity.


WALTER ENERGY: PJT Partners Approved as Investment Bankers
----------------------------------------------------------
The Hon. Tamara O. Mitchell of the U.S. Bankruptcy Court for the
Northern District of Alabama has authorized (i) the assignment of
the engagement letter between Walter Energy, Inc., et al., and
Blackstone Advisory Partners L.P. to PJT Partners LP; and (ii) the
employment of PJT Partners as investment banker to the Debtors nunc
pro tunc to Oct. 1, 2015.

The Court approved on Oct. 1, 2015, the engagement letter dated
March 23, 2015, as amended and restated on April 6, 2015, as
further amended and restated on Aug. 19, 2015.

According to the Debtors, the board of directors of Blackstone's
general partner approved on Oct. 7, 2014, a plan to spin off its
financial and strategic advisory services, restructuring and
reorganization advisory services and Park Hill fund placement
businesses, and to combine the businesses with an independent
financial advisory firm founded by Paul J. Taubman, to form an
independent, publicly traded company called PJT Partners Inc.  Upon
the consummation of the transaction on the closing date (Oct. 1,
2015), Blackstone's restructuring and reorganization advisory group
became a part of PJT and Blackstone's restructuring professionals
became employees of PJT.  

All of Blackstone's restructuring and reorganization group
employees working on the chapter 11 cases as of the closing date
are now employed by PJT.  The employees will continue to work on
the cases, in accordance with the Engagement Letter, the Additional
Services Letter and the Original Order.

To the best of the Debtors' knowledge, PJT does not have, or
represent any entity having, an interest adverse to the interests
of the Debtors' estates or of any class of creditors or equity
security holders.

A copy of the agreement is available for free at:

          http://bankrupt.com/misc/WalterEnergy_PJT.pdf

                       About Walter Energy

Walter Energy, Inc. -- http://www.walterenergy.com/-- is a
metallurgical coal producer for the global steel industry with
strategic access to steel producers in Europe, Asia and South
America.  The Company also produces thermal coal, anthracite,
metallurgical coke and coal bed methane gas, with operations in the
United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy and its affiliates sought Chapter 11 protection
(Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham, Alabama on
July 15, 2015, after signing a restructuring support agreement with
first-lien lenders.

Walter Energy disclosed total assets of $5.2 billion and total
debt of $5 billion as of March 31, 2015.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as
counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree
Deakins LLP, as labor and employment counsel; Maynard, Cooper &
Gale, P.C., as special counsel; PJT Partners LP serves as
investment banker, replacing Blackstone Advisory Services, L.P.;
AlixPartners, LLP, as financial advisor, and Kurtzman Carson
Consultants LLC, as claims and noticing agent.

The Bankruptcy Administrator for the Northern District of Alabama
appointed an Official Committee of Unsecured Creditors and an
Official Committee of Retirees.  The Creditors Committee tapped
Morrison & Foerster LLP and Christian & Small LLP as attorneys.
The Retiree Committee retained Adams & Reese LLP and Jenner &
Block LLP as attorneys.

The informal group of certain unaffiliated First Lien Lenders and
First Lien Noteholders -- Steering Committee -- retained Akin,
Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard
Freres & Co. LLC as financial advisor.


WELLNESS CENTER: Needs More Time to File Dec. 31 Form 10-Q
----------------------------------------------------------
Wellness Center USA, Inc., notified the Securities and Exchange
Commission that it was unable to file its quarterly report on Form
10-Q for the period ended Dec. 31, 2015, within the prescribed time
period due to its difficulty in completing and obtaining required
financial and other information without unreasonable effort and
expense.

                      About Wellness Center

Wellness Center USA, Inc. (WCUI:OTC US) is an alternative
healthcare, medical device solutions and online nutraceutical sales
company.  The Company has four business units: Stealth Mark, which
sells, licenses or provides certain authentication and encryption
products and services; National Pain Centers, Inc., which
specializes in spine and multimodal pain; Psoria-Shield Inc., a
developer and manufacturer of Ultra Violet (UV) phototherapy
devices for the treatment of skin diseases; and CNS-Wellness LLC,
which specializes in the treatment of
brain-based behavioral health disorders.

Wellness Center reported a net loss of $4.86 million for the fiscal
year ended Sept. 30, 2014, compared to a net loss of $2.81 million
for the fiscal year ended Sept. 30, 2013.

Li and Company, PC, in Skillman, New Jersey, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2014.  The independent auditors noted that
the Company had an accumulated deficit at Sept. 30, 2014, a net
loss and net cash used in operating activities for the reporting
period then ended.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


WEST CORP: Hosted Analyst Meeting Feb. 19
-----------------------------------------
West Corporation hosted an analyst meeting on Feb. 19, 2016, which
meeting was accessible on the Company's web site under Investor
Information - Events & Presentations.  The Company's presentation
used at the meeting is available for free at http://is.gd/SCm4qs

                    About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with services
that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

West Corp reported net income of $158 million in 2014 following net
income of $143 million in 2013.

As of Sept. 30, 2015, the Company had $3.55 billion in total
assets, $4.15 billion in total liabilities and a $596 million
stockholders' deficit.

                       Bankruptcy Warning

"If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

   * our debt holders could declare all outstanding principal and
     interest to be due and payable;

   * the lenders under our Senior Secured Credit Facilities could
     terminate their commitments to lend us money and foreclose
     against the assets securing our borrowings; and

   * we could be forced into bankruptcy or liquidation," the    
     Company states in the quarterly report for the period ended
     Sept. 30 ,2015.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WEST CORP: Posts $242 Million Net Income for 2015
-------------------------------------------------
West Corporation filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing net income of $242
million on $2.28 billion of revenue for the year ended Dec. 31,
2015, compared to net income of $158 million on $2.21 billion of
revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $3.61 billion in total assets,
$4.16 billion in total liabilities and a total stockholders'
deficit of $552 million.

                     Bankruptcy Warning

"At December 31, 2015, our aggregate long-term indebtedness,
including the current portion, was $3,400.1 million.  In 2015, our
consolidated interest expense and accelerated amortization of
deferred financing costs was approximately $156.6 million.  Our
ability to make scheduled payments or to refinance our debt
obligations and to fund our other liquidity needs depends on our
financial and operating performance, which is subject to prevailing
economic and competitive conditions and to certain financial,
business and other factors beyond our control.  We cannot make
assurances that we will maintain a level of cash flows from
operating activities sufficient to permit us to pay the principal,
premium, if any, and interest on our indebtedness and to fund our
other liquidity needs.

"If our cash flows and capital resources are insufficient to fund
our debt service obligations and to fund our other liquidity needs,
we may be forced to reduce or delay capital expenditures or the
payment of dividends, sell assets or operations, seek additional
capital or restructure or refinance our indebtedness. We cannot
make assurances that we would be able to take any of these actions,
that these actions would be successful and permit us to meet our
scheduled debt service obligations or that these actions would be
permitted under the terms of our existing or future debt
agreements, including our senior secured credit facilities or the
indenture that governs our outstanding notes. Our senior secured
credit facilities documentation and the indenture that governs the
notes restrict our ability to dispose of assets and use the
proceeds from the disposition.  As a result, we may not be able to
consummate those dispositions or use the proceeds to meet our debt
service or other obligations, and any proceeds that are available
may not be adequate to meet any debt service or other obligations
then due.

If we cannot make scheduled payments on our debt, we will be in
default of such debt and, as a result:

  * Our debt holders could declare all outstanding principal and
    interest to be due and payable;

  * our debt holders under other debt subject to cross default or
    cross acceleration provisions could declare all outstanding
    principal and interest on such other debt to be due and
    payable;

  * the lenders under our senior secured credit facilities could
    terminate their commitments to lend us money and foreclose
    against the assets securing our borrowings; and

  * we could be forced into bankruptcy or liquidation," the
    Company stated in the Annual Report.

A full-text copy of the Form 10-K is available for free at:

                     http://is.gd/sWVuZO

                    About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with services
that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WESTMORELAND COAL: Michael Wartell Reports 6.3% Stake as of Feb. 18
-------------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Michael J. Wartell, et al., disclosed that as of
Feb. 18, 2016, they beneficially own 1,136,369 shares of common
stock of Westmoreland Coal Company representing 6.3 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/uewSm2

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest        

independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal Company reported a net loss applicable to common
shareholders of $173 million in 2014, a net loss applicable to
common shareholders of $6.05 million in 2013 and a net loss
applicable to common shareholders of $8.58 million in 2012.

As of Sept. 30, 2015, the Company had $1.72 billion in total
assets, $2.21 billion in total liabilities and a $489 million total
deficit.

                            *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to 'B3' from 'Caa1', and assigned 'Caa1' rating to the
company's proposed new $300 million First Lien Term Loan, the TCR
reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/ EBITDA
will track at around 5x in 2015 and 2016 and that the company will
be break-even to modestly free cash flow positive over the same
time period.


WESTMORELAND COAL: Venor Capital to Nominate Two Directors
----------------------------------------------------------
Venor Capital Master Fund, holder of 5.6% of Westmoreland Coal
Company's outstanding common shares, delivered to Westmoreland a
notice of its intention to nominate Eugene I. Davis and Robert C.
Flexon for election as directors of the Company at the next annual
or special meeting of stockholders at which directors are to be
elected, for terms expiring at the 2017 annual meeting of the
stockholders.

                     About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest        


independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal Company reported a net loss applicable to common
shareholders of $173 million in 2014, a net loss applicable to
common shareholders of $6.05 million in 2013 and a net loss
applicable to common shareholders of $8.58 million in 2012.

As of Sept. 30, 2015, the Company had $1.72 billion in total
assets, $2.21 billion in total liabilities and a $489 million total
deficit.

                            *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to 'B3' from 'Caa1', and assigned 'Caa1' rating to the
company's proposed new $300 million First Lien Term Loan, the TCR
reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/ EBITDA
will track at around 5x in 2015 and 2016 and that the company will
be break-even to modestly free cash flow positive over the same
time period.


XINERGY CORP: Administrative Claims Due March 10
------------------------------------------------
Xinergy Corp. and its debtor-affiliates said the deadline for
filing applications or request for payment of administrative claims
(including but not limited to professional fee claims) will be the
date that is the first business day that is 30 calendar days after
the effective date of their amended joint Chapter 11 plan.

Any request for payment of an administrative claim must be served
on counsel to the Debtors at:

    Hunton & Williams LLP
    Attn: Typer P. Brown, Esq.
    Riverfront Plaza, East Tower
    951 East Byrd Street
    Richmond, VA 23219
    Tel: 804-788-8674
    Fax: 804-788-8218
    Email: tpbrown@hunton.com

Xinergy notified the U.S. Bankruptcy Court fort the Western
District of Virginia that their plan became effective as of Feb.
10, 2016.

The Court confirmed the Plan on Jan. 27, 2016.

                       About Xinergy Ltd.

Xinergy is a U.S. producer of metallurgical and thermal coal with
mineral reserves, mining operations and coal properties located in
the Central Appalachian ("CAPP") regions of West Virginia and
Virginia.  Xinergy's operations principally include two active
mining complexes known as South Fork and Raven Crest located in
Greenbrier and Boone Counties, West Virginia.  Xinergy also leases
or owns the mineral rights to properties located in Fayette,
Nicholas and Greenbrier Counties, West Virginia and Wise County,
Virginia.  Collectively, Xinergy leases or owns mineral rights to
approximately 72,000 acres with proven and probable coal reserves
of approximately 77 million tons and additional estimated reserves
of 40 million tons.

Xinergy Ltd. and 25 subsidiaries commenced Chapter 11 bankruptcy
cases (Bankr. W.D. Va. Lead Case No. 15-70444) on April 6, 2015.
The cases have been assigned to Judge Paul M. Black.  The cases
are being jointly administered for procedural purposes.

Xinergy Ltd. disclosed $36,968,445 in assets and $215,000,000 in
liabilities as of the Chapter 11 filing.

The Debtors tapped Hunton & Williams LLP as attorneys; Global
Hunter Securities, as financial advisor, and American Legal Claims
Services, LLC as claims, noticing and balloting agent.

The U.S. Trustee appointed a two-member official committee of
unsecured creditors.  The Committee tapped to retain McGuireWoods
LLP as lead counsel, and Whiteford, Taylor & Preston, LLP as its
local counsel.

The Informal Prepetition Noteholder Committee and DIP Lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison.


YRC WORLDWIDE: Posts $700,000 Net Income for 2015
-------------------------------------------------
YRC Worldwide Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
attributable to common shareholders of $700,000 on $4.83 billion of
operating revenue for the year ended Dec. 31, 2015, compared to a
net loss attributable to common shareholders of $85.8 million on
$5.06 billion of operating revenue for the year ended Dec. 31,
2014.

As of Dec. 31, 2015, YRC Worldwide had $1.89 billion in total
assets, $2.27 billion in total liabilities and a total
shareholders' deficit of $379 million.

As of Dec. 31, 2014, the Company had cash and cash equivalents of
$171 million and the borrowing base and maximum availability on our
ABL Facility were $446 million and $71.2 million, respectively.
The maximum availability is calculated in accordance with the terms
of the ABL Facility and is derived by reducing the borrowing base
by our $374.3 million of outstanding letters of credit.  As of Dec.
31, 2014, amounts able to be drawn on our ABL Facility (which were
limited by certain financial covenant restrictions) were $27.1
million, for a total of cash and cash equivalents and amounts able
to be drawn on our ABL Facility of $198.2 million.

A full-text copy of the Form 10-K is available for free at:

                       http://is.gd/NArv5i

                       About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide from
'Caa3' to 'B3', following the successful closing of its refinancing
transactions.

In the Aug. 11, 2015, TCR report, Standard & Poor's Ratings
Services said that it has raised its corporate credit rating on
Overland, Kan.-based less-than-truckload (LTL) trucking company YRC
Worldwide to 'B-' from 'CCC+'.

"The upgrade reflects YRC's earnings growth and improved liquidity
position, along with our belief that gradual improvement in the
company's operating performance will result in credit measures that
are commensurate with the rating," said Standard & Poor's credit
analyst Michael Durand.


[*] Claims to Asbestos Bankruptcy Trusts Show Inconsistencies
-------------------------------------------------------------
U.S. Chamber Institute for Legal Reform (ILR) on Feb. 19 disclosed
that a new, first-of-its-kind study of claims made to asbestos
bankruptcy trusts shows widespread inconsistencies in the
information single asbestos plaintiffs provide to the different
trusts.  These trusts currently hold over $30 billion in assets.
Despite these "red flags" and the strong financial incentive for
abuse, the study found the trusts have apparently done nothing to
investigate these discrepancies and the potential for
fabrications.

"This study shows a system without accountability and demonstrates
the urgent need for external oversight and reform of the asbestos
bankruptcy trusts," said Lisa A. Rickard, president of the U.S.
Chamber Institute for Legal Reform (ILR).  "Twenty-three bankruptcy
trusts have already had to reduce payments to asbestos claimants --
with some trusts paying pennies on the dollar -- and if we do
nothing to rein in these abuses there is a very likely possibility
some trusts will not have enough money to compensate future
asbestos claimants."

The new study, Insights & Inconsistencies: Lessons from the Garlock
Trust Claims, analyzes information from 100 randomly selected
personal information questionnaires submitted by asbestos
plaintiffs in the bankruptcy proceedings of Garlock Sealing
Technologies, Inc.

Review of the sample questionnaires showed:

   -- 69% of claimants did not list every place of employment,
making it impossible for the trusts to verify the job site
information provided to them;

   -- 15% of claimants did not list the specific products to which
they were allegedly exposed;

   -- 55% of claimants had date discrepancies;

And 21% of claims contained other troubling inconsistencies, such
as differing medical diagnoses, conflicting job descriptions, and
implausible exposure allegations.

The study's authors say the bankruptcy trusts lack accountability
because they are overseen by Trust Advisory Committees made up of
plaintiffs' lawyers or those appointed by plaintiffs' lawyers.  "In
essence," they write, "this system permits the same firms that
stand to benefit when the bankruptcy trusts pay claims to write the
requirements for payments by those trusts."

The study was prepared for ILR by James L. Stengel and C. Anne
Malik of Orrick, Herrington and Sutcliffe LLP.

ILR seeks to promote civil justice reform through legislative,
political, judicial, and educational activities at the global,
national, state, and local levels.

The U.S. Chamber of Commerce -- http://www.uschamber.com-- is the
world's largest business federation representing the interests of
more than 3 million businesses of all sizes, sectors, and regions,
as well as state and local chambers and industry associations.


[*] Moody's Concludes Reviews For 9 US Baa-rated E&P Firms
----------------------------------------------------------
Moody's Investors Service concluded rating reviews on nine
Baa-rated US exploration and production (E&P) companies, along with
two associated midstream entities. Moody's confirmed three
companies' ratings, and downgraded three companies' ratings one
notch, two companies' ratings two notches, two companies' ratings
three notches, and one company's ratings four notches.

Oil prices have dropped substantially reflecting continuing
oversupply in the global oil markets, very high inventory levels
and additional Iranian oil exports coming on line. Furthermore,
North American natural gas and natural gas liquids prices remain
quite weak. Moody's lowered its oil price estimates on January 21
and expects a slow recovery for oil prices over the next several
years. For E&P companies, cash flow declines in tandem with oil and
natural gas prices, with the decline weakening credit metrics and
liquidity, and increasing their negative free cash flow. The drop
in energy prices and corresponding capital markets concerns will
also raise financing costs and increase refinancing risks for E&P
companies.

The drop in oil prices and weak natural gas prices has caused a
fundamental change in the energy industry, and its ability to
generate cash flow has fallen substantially. Moody's believes this
condition will persist for several years. As a result, Moody's is
recalibrating the ratings of many energy companies to reflect this
industry shift. However, the impact of the drop in oil prices and
low natural gas prices will vary substantially from issuer to
issuer. Therefore, Moody's confirmed the current ratings of some
companies, while downgrading others by multiple notches.

RATINGS RATIONALE

Anadarko Petroleum Corporation

Moody's downgraded Anadarko's senior unsecured ratings to Ba1 from
Baa2 with a negative outlook. At the same time Moody's assigned a
Ba1 Corporate Family Rating (CFR). The downgrade reflects the
company's substantially lower forecasted cash flow generation under
Moody's commodity price estimates, high debt levels relative to
cash flow and Moody's expectation of some production declines
caused by reduced capital investment. These concerns are partially
offset by the company's low operating and reserve replacement
costs, allowing Anadarko to replace reserves at lower break-even
commodity prices than many of its large E&P peers. The company
benefits from a globally diversified property base that includes a
mix of conventional and unconventional onshore and offshore
resources, which provides a lower overall production decline rate
and capital intensity than peers focused solely on unconventional
onshore US properties. Anadarko has large debt maturities in 2016
and 2017 that it plans to refinance, and the company has adequate
liquidity, supported by its inventory of undeveloped discoveries
and equity ownership in Western Gas Equity Partners (unrated) that
provide saleable assets even in a more challenging industry
environment.

Western Gas Partners, LP

Moody's downgraded Western Gas' senior unsecured ratings to Ba1
from Baa3 with a negative outlook, consistent with the downgrade of
its parent company, Anadarko Petroleum. Moody's also assigned a Ba1
Corporate Family Rating (CFR). Western Gas' ratings are supported
by its high proportion of fee-based revenues that provides revenue
stability, good commodity and basin diversification, and relatively
low financial leverage. The partnership's direct commodity price
exposure is limited by hedging arrangements with Anadarko, but it
does have exposure to fluctuations in production volumes,
particularly in its gathering business. While its stand-alone
credit attributes could support a Baa3 rating, Western Gas' high
customer concentration risk with Anadarko combined with Anadarko's
controlling ownership effectively limits its rating to that of
Anadarko's.

Cimarex Energy Co.

Moody's confirmed Cimarex Energy Co.'s Baa3 senior unsecured notes
ratings with a stable outlook. The Baa3 rating is supported by
management's maintenance of highly conservative financial policies
through various commodity price cycles. A weak commodity price
outlook will pressure the company's returns and cash flow-based
leverage metrics in 2016, but with a modest recovery expected by
Moody's in 2017. Moreover, we do not project any increases in
Cimarex's debt balances through 2017, with cash flow outspending
being funded with cash on the balance sheet.

Continental Resources, Inc.

Moody's downgraded Continental Resources' senior unsecured notes
rating to Ba3 from Baa3. Moody's also assigned a Ba3 Corporate
Family Rating (CFR). The Ba3 CFR reflects the company's high level
of debt, elevated leverage metrics, geographic concentration, and
the lack of oil hedges in the current depressed crude oil price
environment. The company is cutting capex by two-thirds in 2016 but
this is not expected to result in any meaningful production
decline. However, the Ba3 CFR considers the reduced cash margins,
credit metrics deterioration, and the weaker leveraged full cycle
ratio. Nonetheless, the company's ratings are supported by its high
quality asset base and prominent position in two major oil
producing plays, and its relatively low finding and development
costs. Continental Resources has also been a very strong operator
historically and continues to demonstrate its ability to bring down
costs as the commodity price downturn has worsened.

EQT Corporation

Moody's confirmed EQT's senior unsecured ratings at Baa3 with a
stable outlook. The confirmation reflects EQT's high quality
acreage position in the Marcellus Shale and very low cost structure
that allows it to replace production and reserves even in a weak
natural gas price environment. The company's cost structure and
overall credit profile benefits from the ownership of strategic
transportation and storage assets that move its production volumes
to market at low cost. These midstream assets also have substantial
asset value to support debt and generate third party cash flow. The
company's cash flow based leverage metrics will be somewhat
elevated because of exceptionally weak gas prices in 2016, but
those metrics remain better than most peers. EQT's consistent
hedging practices, policy of maintaining large cash balances
relative to debt and multiple sources of capital mitigate the risks
of persistently low natural gas prices on its financial metrics.

EQT Midstream Partners, LP

Moody's confirmed EQT Midstream's Ba1 Corporate Family Rating (CFR)
with a stable outlook. The partnership's Ba1 CFR reflects its
stand-alone credit profile of Ba2 with one notch of ratings uplift
to reflect its strategic importance to EQT and the continued
support of the partnership's growth through conservatively funded
asset drop downs from EQT. EQT Midstream's asset base benefits from
its close proximity to rising production in the Marcellus Shale and
the critical nature of its pipelines for moving natural gas within
the region to long haul pipelines. The fee-based nature of its
revenues, long-term contracts that mitigate volume risk and low
financial leverage further support its ratings. The ratings are
restrained by EQT Midstream's basin concentration and the large
scale and inherent execution risk of its Mountain Valley Pipeline
joint venture, a project to construct a new interstate natural gas
pipeline, where EQT Midstream serves as the operator and largest
equity owner.

Hess Corporation

Moody's downgraded Hess's senior unsecured rating to Ba1 from Baa2
and at the same time assigned a Ba1 Corporate Family Rating (CFR)
with a stable outlook. Hess's Ba1 CFR reflects its geographically
diversified, oil-weighted production and reserve base, which has
been reconfigured into a pure play E&P portfolio of short-cycle,
notably the Bakken Shale where Hess is the third largest producer,
and long-cycle producing assets. High debt levels relative to cash
flow resulting from weak crude oil prices and a weak leveraged
full-cycle ratio (LFCR), are cushioned by Hess's strong liquidity
position, which fully funds projected negative free cash flow.
Liquidity has been bolstered by the net proceeds of February's
issuance of equity and preferred stock, supplementing balance sheet
cash. Hess has reduced 2016's capital budget in an effort to manage
negative free cash flow, and Moody's believes capital spending can
fall further in 2017 as major projects in the North Malay Basin and
the deepwater Gulf of Mexico are completed and initiate their
production. Hess also has the flexibility to further reduce
spending in the Bakken Shale should crude prices remain weak,
although its acreage is concentrated in the core of the Bakken,
including McKenzie County, among the most productive acreage in the
Bakken.

Murphy Oil Corporation

Moody's downgraded Murphy Oil Corporation's senior unsecured notes
to B1 from Baa3, with a negative outlook. At the same time, Moody's
assigned a Ba3 Corporate Family Rating (CFR), which reflects higher
financial leverage through 2017, with increasing debt balances and
declining production. In addition, the company has a weak liquidity
profile, with upcoming bank and bond maturities in 2017. The Ba3
CFR is supported by the scale of Murphy's production and reserves.
While Murphy has meaningful production concentration in Malaysia
and proved developed reserve concentration in the Canadian oil
sands, its remaining production and reserve profile is well
diversified across several basins. Murphy's high exposure to
liquids production and oil-link sales of liquefied natural gas
benefits its cash margins relative to its peers.

National Fuel Gas Company

Moody's downgraded National Fuel Gas' senior unsecured rating to
Baa3 from Baa2 with a stable outlook. This reflects weaker cash
flow prospects from the E&P business segment, slower anticipated
growth in midstream volumes and Moody's expectation of elevated
financial leverage through 2017 as the company tries to balance its
capital spending and dividends against operating cash flows. While
the company's stable and significant cash flows from the regulated
pipeline and natural gas distribution businesses will continue to
provide strong rating support, the company will have limited
flexibility to reduce leverage over the next two years in a
challenging oil and natural gas price environment. Despite plans to
scale back capex significantly, the company will continue to spend
a substantial amount of growth capital to expand its midstream and
E&P operations, and as a result, will lack free cash flow through
2018. However, the company has the ability to reduce capital
spending and delay midstream projects supporting its E&P
development program if industry conditions do not improve. The Baa3
rating is supported by Moody's expectation of adequate liquidity
and covenant cushion as well as continued cost reductions in the
E&P business.

Noble Energy, Inc.

Moody's downgraded Noble to Baa3 from Baa2 with a negative outlook.
The downgrade reflects a gradual deterioration in the company's
cash flow generation and credit metrics through 2017. Noble has
relatively high leverage levels and has longer term funding needs
associated with its large scale exploration and development
programs. Noble's Baa3 rating is supported by its large scale of
operations, geographically diversified asset base and conservative
financial management. Management's proactive approach to preserve
liquidity by reducing capital spending and dividends, combined with
its hedging program, partially offset the impact of weak commodity
prices on the company's credit profile. An exploration program with
a good track record has resulted in large-scale, valuable
discoveries in the Eastern Mediterranean and the deepwater Gulf of
Mexico, which could be monetized. Complementing some of these
longer life, large and potentially higher risk projects are Noble's
shorter cycle, lower risk onshore US unconventional development
activity.

Southwestern Energy Company

Moody's downgraded Southwestern Energy's senior unsecured notes
rating to B1 from Baa3. At the same time, Moody's assigned a B1
Corporate Family Rating (CFR). The B1 CFR reflects Southwestern's
low capital efficiency which is highly levered to natural gas
prices, elevated leverage metrics, and reserve concentration risk
in the Fayetteville and Marcellus Shales. Southwestern has had
increasing leverage since early 2015 partially due to its large
debt financed Appalachian acquisitions. Southwestern has
experienced decreasing EBITDA due to weakening natural gas prices,
which are expected to remain low and range-bound over the next
several years. Southwestern's inventory of economic drilling
location has decreased despite its favorable cost structure due to
steep deterioration in commodity prices. Nevertheless, the B1 CFR
is supported by its low finding and development costs which are
among the best in the industry, and management's historically
conservative financial philosophy which has included the strategy
of issuing common equity and selling assets in efforts to preserve
balance sheet strength. The rating also reflects the likelihood for
some further cost reduction and Moody's expectation that
Southwestern will not outspend cash flow from operations
materially.

Issuer: Cimarex Energy Co.

-- Confirmations:

-- Senior Unsecured Regular Bond/Debenture, Confirmed at Baa3

Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review

Issuer: Murphy Oil Corporation

-- Downgrades:

-- Senior Unsecured Regular Bond/Debentures, Downgraded to B1
    (LGD 5) from Baa3

-- Assignments:

--  Probability of Default Rating , Assigned Ba3-PD

--  Speculative Grade Liquidity Rating , Assigned SGL-4

--  Corporate Family Rating , Assigned Ba3

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: Continental Resources, Inc.

-- Downgrades:

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Ba3
    (LGD 4) from Baa3

-- Assignments:

--  Probability of Default Rating , Assigned to Ba3-PD

--  Speculative Grade Liquidity Rating , Assigned to SGL-3

--  Corporate Family Rating , Assigned to Ba3

-- Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review

Issuer: Southwestern Energy Company

-- Downgrades:

-- Senior Unsecured Commercial Paper , Downgraded to NP from P-3

-- Senior Unsecured Regular Bond/Debentures, Downgraded to B1
    (LGD 4) from Baa3

-- Assignments:

--  Speculative Grade Liquidity Rating , Assigned SGL-3

--  Probability of Default Rating , Assigned to B1-PD

--  Corporate Family Rating, Assigned to B1

-- Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review

Issuer: Anadarko Finance Company

-- Downgrades:

-- Backed Senior Unsecured Regular Bond/Debenture, Downgraded to
    Ba1 (LGD 4) from Baa2

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: EQT Corporation

-- Confirmations:

-- Senior Unsecured Medium-Term Note Program , Confirmed at
    (P)Baa3

-- Senior Unsecured Regular Bond/Debentures, Confirmed at Baa3

-- Senior Unsecured Shelf, Confirmed at (P)Baa3

Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review

Issuer: Anadarko Petroleum Corporation

-- Downgrades:

-- Senior Unsecured Commercial Paper, Downgraded to NP from P-2

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Ba1
    (LGD 4) from Baa2

-- Senior Unsecured Shelf, Downgraded to (P)Ba1 from (P)Baa2

-- Assignments:

--  Probability of Default Rating , Assigned to Ba1-PD

--  Speculative Grade Liquidity Rating, Assigned to SGL-3

--  Corporate Family Rating, Assigned to Ba1

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: Kerr-McGee Corporation

-- Downgrades:

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Ba1
    (LGD 4) from Baa2

-- Backed Senior Unsecured Regular Bond/Debentures, Downgraded to

    Ba1 (LGD 4) from Baa2

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: Union Pacific Resources Group Inc.

-- Downgrades:

-- Backed Senior Unsecured Regular Bond/Debentures , Downgraded
    to Ba1 (LGD 4) from Baa2

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: EQT Midstream Partners, LP

-- Lowered:

-- Speculative Grade Liquidity Rating , Lowered to SGL-3 from
    SGL-2

-- Confirmations:

--  Probability of Default Rating , Confirmed at Ba1-PD

--  Corporate Family Rating , Confirmed at Ba1

-- Senior Unsecured Regular Bond/Debentures, Confirmed at Ba1
    (LGD 4)

-- Senior Unsecured Shelf, Confirmed at (P)Ba1

-- Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review

Issuer: Western Gas Partners, LP

-- Downgrades:

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Ba1
    (LGD 4)from Baa3

-- Senior Unsecured Shelf, Downgraded to (P)Ba1 from (P)Baa3

-- Assignments:

--  Probability of Default Rating , Assigned Ba1-PD

--  Speculative Grade Liquidity Rating , Assigned SGL-3

--  Corporate Family Rating , Assigned Ba1

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: Noble Energy, Inc.

-- Downgrades:

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Baa3
    from Baa2

-- Outlook Actions:

-- Outlook, Changed To Negative From Rating Under Review

Issuer: Hess Corporation

-- Downgrades:

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Ba1
    (LGD 4) from Baa2

-- Assignments:

Probability of Default Rating , Assigned Ba1-PD

--  Speculative Grade Liquidity Rating , Assigned SGL-1

--  Corporate Family Rating , Assigned Ba1

-- Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review

Issuer: National Fuel Gas Company

-- Downgrades:

--  Commercial Paper, Downgraded to P-3 from P-2

-- Senior Unsecured Medium-Term Note Program, Downgraded to
    (P)Baa3 from (P)Baa2

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Baa3
    from Baa2

-- Underlying Senior Unsecured Regular Bond/Debentures, Downgraded
to Baa3 from Baa2

-- Senior Unsecured Shelf, Downgraded to (P)Baa3 from (P)Baa2

-- Outlook Actions:

-- Outlook, Changed To Stable From Rating Under Review


[*] Peter J. Solomon to Rebuild Restructuring Team
--------------------------------------------------
Aleksandrs Rozens, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that Peter J. Solomon Co., which announced
that it is selling a majority stake to Natixis, will rebuild its
restructuring business and
has hired a team of energy M&A bankers that likely will be involved
with advising troubled businesses.

According to the Bloomberg report, Marc Cooper, the firm's vice
chairman, said the firm is "looking to build that group in a very
aggressive way to help advise our clients and help us be a bigger
player in that market."  Mr. Cooper continued, "Within the industry
sectors we are best known for our retail business.  It's the
industry Peter [Solomon] founded the firm on.  We have six or seven
dedicated bankers in that space.  In addition to retail we are
active in a number of other industry verticals and are looking to
expand our capabilities.  One industry that we have been in for the
past six or seven years is telecommunications, media and
technology.  We have also done a fair amount of work in the energy
space.  We have not announced it yet, but we are in the process of
hiring a team that will join us in the energy world.  They are an
M&A advisory team but we also believe they will generate a fair
amount of restructuring business in the near term."

Michael J. de la Merced, writing for The New York Times' DealBook,
reported that Natixis, the big French bank, acquired a majority
stake in one of Peter J. Solomon, the United States' oldest
boutique advisory shops.

According to the DealBook report, Natixis said that it had acquired
a 51 percent stake in the Peter J. Solomon, founded nearly 30 years
ago as an independent adviser on mergers and other transactions.
The deal will give the French bank a bigger presence in the United
States, but it will also bring significant financial backing to
Peter J. Solomon at a time when boutique investment banks -- those
without lending or trading arms -- have grown in prominence, the
DealBook report said.

It will also help solve issues like succession for the firm's
eponymous founder, Peter J. Solomon, a longtime deal maker who
created the bank in 1989 after leaving Shearson Lehman Brothers
after a clash with his then-boss, Peter Cohen, the DealBook added.

Mr. Cooper may be reached at:

          Marc S. Cooper
          Vice Chairman
          PETER J. SOLOMON COMPANY
          Tel: (212) 508-1680
          Email: mscooper@pjsc.com


[^] BOND PRICING: For the Week from February 15 to 19, 2016
-----------------------------------------------------------
  Company                     Ticker  Coupon Bid Price   Maturity
  -------                     ------  ------ ---------   --------
99 Cents Only Stores LLC      NDN     11.000    29.750 12/15/2019
A. M. Castle & Co             CAS      7.000    39.000 12/15/2017
A. M. Castle & Co             CAS     12.750    71.875 12/15/2016
A. M. Castle & Co             CAS     12.750    71.875 12/15/2016
ACE Cash Express Inc          AACE    11.000    43.500   2/1/2019
ACE Cash Express Inc          AACE    11.000    46.500   2/1/2019
AK Steel Corp                 AKS      7.625    40.391  5/15/2020
Alpha Natural Resources Inc   ANR      6.000     0.198   6/1/2019
Alpha Natural Resources Inc   ANR      7.500     0.700   8/1/2020
Alpha Natural Resources Inc   ANR      6.250     0.151   6/1/2021
Alpha Natural Resources Inc   ANR      4.875     0.100 12/15/2020
Alpha Natural Resources Inc   ANR      3.750     0.750 12/15/2017
Alpha Natural Resources Inc   ANR      7.500     0.500   8/1/2020
Alpha Natural Resources Inc   ANR      7.500     0.826   8/1/2020
Alta Mesa Holdings LP /
  Alta Mesa Finance
  Services Corp               ALTMES   9.625    15.250 10/15/2018
American Eagle Energy Corp    AMZG    11.000    17.250   9/1/2019
American Eagle Energy Corp    AMZG    11.000     5.250   9/1/2019
American Energy-Permian
  Basin LLC /
  AEPB Finance Corp           AMEPER   7.125    24.500  11/1/2020
American Energy-Permian
  Basin LLC /
  AEPB Finance Corp           AMEPER   7.119    25.000   8/1/2019
American Energy-Permian
  Basin LLC /
  AEPB Finance Corp           AMEPER   7.375    24.750  11/1/2021
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp                AMEPER   7.119    24.125   8/1/2019
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp                AMEPER   7.375    22.250  11/1/2021
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp                AMEPER   7.125    24.250  11/1/2020
American Gilsonite Co         AMEGIL  11.500    48.000   9/1/2017
American Gilsonite Co         AMEGIL  11.500    47.625   9/1/2017
Approach Resources Inc        AREX     7.000    20.250  6/15/2021
Appvion Inc                   APPPAP   9.000    31.000   6/1/2020
Appvion Inc                   APPPAP   9.000    38.250   6/1/2020
Arch Coal Inc                 ACI      7.250     0.450  6/15/2021
Arch Coal Inc                 ACI      7.250     0.625  10/1/2020
Arch Coal Inc                 ACI      8.000     1.375  1/15/2019
Arch Coal Inc                 ACI      8.000     0.875  1/15/2019
Armstrong Energy Inc          ARMS    11.750    33.325 12/15/2019
Armstrong Energy Inc          ARMS    11.750    39.750 12/15/2019
Aspect Software Inc           ASPECT  10.625    65.000  5/15/2017
Atlas Energy Holdings
  Operating Co LLC / Atlas
  Resource Finance Corp       ARP      7.750    15.500  1/15/2021
Atlas Energy Holdings
  Operating Co LLC / Atlas
  Resource Finance Corp       ARP      9.250    17.800  8/15/2021
Atlas Energy Holdings
  Operating Co LLC / Atlas
  Resource Finance Corp       ARP      9.250    17.625  8/15/2021
Atlas Energy Holdings
  Operating Co LLC / Atlas
  Resource Finance Corp       ARP      9.250    17.625  8/15/2021
Atwood Oceanics Inc           ATW      6.500    37.750   2/1/2020
Avaya Inc                     AVYA    10.500    23.000   3/1/2021
Avaya Inc                     AVYA    10.500    20.566   3/1/2021
BPZ Resources Inc             BPZR     8.500     4.000  10/1/2017
BPZ Resources Inc             BPZR     6.500     4.000   3/1/2015
BPZ Resources Inc             BPZR     6.500     3.396   3/1/2049
Basic Energy Services Inc     BAS      7.750    19.250  2/15/2019
Basic Energy Services Inc     BAS      7.750    18.000 10/15/2022
Berry Petroleum Co LLC        LINE     6.375     9.125  9/15/2022
Berry Petroleum Co LLC        LINE     6.750     7.750  11/1/2020
Black Elk Energy Offshore
  Operations LLC /
  Black Elk Finance Corp      BLELK   13.750     3.136  12/1/2015
Bon-Ton Department
  Stores Inc/The              BONT     8.000    33.250  6/15/2021
Bonanza Creek Energy Inc      BCEI     6.750    30.000  4/15/2021
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp                BBEP     7.875    12.400  4/15/2022
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp                BBEP     8.625    13.000 10/15/2020
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp                BBEP     8.625    12.500 10/15/2020
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp                BBEP     8.625    12.500 10/15/2020
CNG Holdings Inc              CNGHLD   9.375    41.500  5/15/2020
CNG Holdings Inc              CNGHLD   9.375    42.000  5/15/2020
Caesars Entertainment
  Operating Co Inc            CZR     10.000    32.250 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR     11.250    72.500   6/1/2017
Caesars Entertainment
  Operating Co Inc            CZR     10.750    26.250   2/1/2016
Caesars Entertainment
  Operating Co Inc            CZR     12.750    32.250  4/15/2018
Caesars Entertainment
  Operating Co Inc            CZR      6.500    33.000   6/1/2016
Caesars Entertainment
  Operating Co Inc            CZR     10.000    32.500 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR      5.750    30.500  10/1/2017
Caesars Entertainment
  Operating Co Inc            CZR     10.000    32.000 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR      5.750    12.250  10/1/2017
Caesars Entertainment
  Operating Co Inc            CZR     10.000    32.000 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR     10.000    32.125 12/15/2018
California Resources Corp     CRC      8.000    28.000 12/15/2022
California Resources Corp     CRC      6.000    14.020 11/15/2024
California Resources Corp     CRC      5.000    13.880  1/15/2020
California Resources Corp     CRC      5.500    13.000  9/15/2021
California Resources Corp     CRC      8.000    26.000 12/15/2022
California Resources Corp     CRC      6.000    13.000 11/15/2024
California Resources Corp     CRC      5.000    35.750  1/15/2020
California Resources Corp     CRC      6.000    13.000 11/15/2024
California Resources Corp     CRC      5.000    14.250  1/15/2020
Cenveo Corp                   CVO     11.500    47.250  5/15/2017
Cenveo Corp                   CVO      7.000    43.250  5/15/2017
Chaparral Energy Inc          CHAPAR   7.625     7.750 11/15/2022
Chaparral Energy Inc          CHAPAR   9.875     8.250  10/1/2020
Chaparral Energy Inc          CHAPAR   8.250     8.000   9/1/2021
Chassix Holdings Inc          CHASSX  10.000     8.000 12/15/2018
Chassix Holdings Inc          CHASSX  10.000     8.000 12/15/2018
Chesapeake Energy Corp        CHK      3.250    95.000  3/15/2016
Chesapeake Energy Corp        CHK      6.500    34.242  8/15/2017
Chesapeake Energy Corp        CHK      6.625    19.500  8/15/2020
Chesapeake Energy Corp        CHK      5.750    18.056  3/15/2023
Chesapeake Energy Corp        CHK      3.872    17.375  4/15/2019
Chesapeake Energy Corp        CHK      7.250    25.750 12/15/2018
Chesapeake Energy Corp        CHK      2.500    30.196  5/15/2037
Chesapeake Energy Corp        CHK      4.875    18.250  4/15/2022
Chesapeake Energy Corp        CHK      6.125    17.625  2/15/2021
Chesapeake Energy Corp        CHK      6.875    18.250 11/15/2020
Chesapeake Energy Corp        CHK      2.250    18.000 12/15/2038
Chesapeake Energy Corp        CHK      5.375    18.150  6/15/2021
Chesapeake Energy Corp        CHK      2.500    31.250  5/15/2037
Chesapeake Energy Corp        CHK      6.875    18.000 11/15/2020
Claire's Stores Inc           CLE      8.875    16.000  3/15/2019
Claire's Stores Inc           CLE      7.750    14.500   6/1/2020
Claire's Stores Inc           CLE     10.500    48.500   6/1/2017
Claire's Stores Inc           CLE      7.750    14.250   6/1/2020
Clean Energy Fuels Corp       CLNE     5.250    49.000  10/1/2018
Clean Energy Fuels Corp       CLNE     7.500    86.675  8/30/2016
Cliffs Natural Resources Inc  CLF      5.950    19.852  1/15/2018
Cliffs Natural Resources Inc  CLF      5.900    11.880  3/15/2020
Cliffs Natural Resources Inc  CLF      4.875    13.250   4/1/2021
Cliffs Natural Resources Inc  CLF      6.250    14.750  10/1/2040
Cliffs Natural Resources Inc  CLF      7.750    13.649  3/31/2020
Cliffs Natural Resources Inc  CLF      4.800    11.660  10/1/2020
Cliffs Natural Resources Inc  CLF      7.750    14.138  3/31/2020
Cloud Peak Energy
  Resources LLC / Cloud Peak
  Energy Finance Corp         CLD      8.500    38.145 12/15/2019
Community Choice
  Financial Inc               CCFI    10.750    30.470   5/1/2019
Comstock Resources Inc        CRK     10.000    33.813  3/15/2020
Comstock Resources Inc        CRK      7.750     7.500   4/1/2019
Comstock Resources Inc        CRK      9.500     9.000  6/15/2020
Comstock Resources Inc        CRK     10.000    33.500  3/15/2020
Crown Americas LLC /
  Crown Americas
  Capital Corp III            CCK      6.250   103.000   2/1/2021
Cumulus Media Holdings Inc    CMLS     7.750    27.625   5/1/2019
Denbury Resources Inc         DNR      5.500    21.000   5/1/2022
Denbury Resources Inc         DNR      4.625    20.063  7/15/2023
Denbury Resources Inc         DNR      6.375    24.235  8/15/2021
EP Energy LLC /
  Everest Acquisition
  Finance Inc                 EPENEG   9.375    23.250   5/1/2020
EP Energy LLC / Everest
  Acquisition Finance Inc     EPENEG   6.375    20.250  6/15/2023
EP Energy LLC / Everest
  Acquisition Finance Inc     EPENEG   7.750    17.750   9/1/2022
EPL Oil & Gas Inc             EXXI     8.250     4.375  2/15/2018
EV Energy Partners LP /
  EV Energy Finance Corp      EVEP     8.000    25.245  4/15/2019
EXCO Resources Inc            XCO      7.500    12.500  9/15/2018
EXCO Resources Inc            XCO      8.500    12.250  4/15/2022
Eagle Rock Energy
  Partners LP / Eagle Rock
  Energy Finance Corp         EROC     8.375    15.490   6/1/2019
Emerald Oil Inc               EOX      2.000     2.750   4/1/2019
Energy & Exploration
  Partners Inc                ENEXPR   8.000     1.366   7/1/2019
Energy & Exploration
  Partners Inc                ENEXPR   8.000     1.366   7/1/2019
Energy Conversion
  Devices Inc                 ENER     3.000     7.875  6/15/2013
Energy Future Holdings Corp   TXU      9.750    35.050 10/15/2019
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc            TXU     10.000     3.250  12/1/2020
Energy Future Intermediate
  Holding Co LLC / EFIH
  Finance Inc                 TXU      9.750    16.000 10/15/2019
Energy Future Intermediate
  Holding Co LLC / EFIH
  Finance Inc                 TXU     10.000     3.125  12/1/2020
Energy Future Intermediate
  Holding Co LLC / EFIH
  Finance Inc                 TXU      6.875     2.875  8/15/2017
Energy XXI Gulf Coast Inc     EXXI    11.000    11.500  3/15/2020
Energy XXI Gulf Coast Inc     EXXI     9.250     3.500 12/15/2017
Energy XXI Gulf Coast Inc     EXXI     7.500     3.750 12/15/2021
Energy XXI Gulf Coast Inc     EXXI     6.875     3.000  3/15/2024
Energy XXI Gulf Coast Inc     EXXI     7.750     3.960  6/15/2019
FBOP Corp                     FBOPCP  10.000     1.843  1/15/2009
FTS International Inc         FTSINT   6.250     9.750   5/1/2022
FairPoint Communications
  Inc/Old                     FRP     13.125     1.879   4/2/2018
Federal Farm Credit Banks     FFCB     3.270    99.950  6/26/2028
Federal Farm Credit Banks     FFCB     3.420   100.000  1/14/2030
Federal Farm Credit Banks     FFCB     3.460   100.021  2/25/2030
Federal Home Loan Banks       FHLB     3.840    99.081 12/26/2034
Federal Home Loan Banks       FHLB     3.880   100.039  11/5/2035
Federal Home Loan Banks       FHLB     2.500    97.350  8/22/2025
Federal Home Loan Banks       FHLB     2.450   100.000  2/22/2023
Federal Home Loan Banks       FHLB     2.120    99.565  8/26/2021
Federal Home Loan Banks       FHLB     3.840   100.047  8/24/2035
Federal Home Loan
  Mortgage Corp               FHLMC    2.000   100.027  2/22/2021
Federal Home Loan
  Mortgage Corp               FHLMC    1.000    99.500  2/22/2018
Federal Home Loan
  Mortgage Corp               FHLMC    1.750    99.791  5/26/2020
Federal Home Loan
  Mortgage Corp               FHLMC    2.000   100.010  5/25/2021
Federal Home Loan
  Mortgage Corp               FHLMC    1.300    99.797  2/26/2019
Federal Home Loan
  Mortgage Corp               FHLMC    1.000    99.950  2/26/2018
Federal Home Loan
  Mortgage Corp               FHLMC    1.000   100.000  2/26/2018
Federal Home Loan
  Mortgage Corp               FHLMC    2.000   100.010  5/25/2021
Federal Home Loan
  Mortgage Corp               FHLMC    1.010   100.001  2/26/2018
Federal National
  Mortgage Association        FNMA     2.250   100.053  8/23/2022
Federal National
  Mortgage Association        FNMA     3.100    99.625  2/25/2028
Federal National
  Mortgage Association        FNMA     3.150   100.020  2/25/2028
Federal National
  Mortgage Association        FNMA     3.150   100.020  2/25/2028
Federal National
  Mortgage Association        FNMA     3.400   100.023  2/27/2030
Federal National
  Mortgage Association        FNMA     3.250   100.022  2/27/2030
Fleetwood Enterprises Inc     FLTW    14.000     3.557 12/15/2011
Forbes Energy Services Ltd    FES      9.000    35.500  6/15/2019
GT Advanced Technologies Inc  GTAT     3.000     0.125 12/15/2020
Gastar Exploration Inc        GST      8.625    49.500  5/15/2018
Gibson Brands Inc             GIBSON   8.875    48.250   8/1/2018
Gibson Brands Inc             GIBSON   8.875    55.500   8/1/2018
Gibson Brands Inc             GIBSON   8.875    56.750   8/1/2018
Goodman Networks Inc          GOODNT  12.125    30.500   7/1/2018
Goodrich Petroleum Corp       GDPM     8.875     4.375  3/15/2018
Goodrich Petroleum Corp       GDPM     5.000     0.500  10/1/2032
Goodrich Petroleum Corp       GDPM     8.875     1.574  3/15/2018
Goodrich Petroleum Corp       GDPM     8.875     0.525  3/15/2019
Goodrich Petroleum Corp       GDPM     8.875     0.525  3/15/2019
Gymboree Corp/The             GYMB     9.125    20.550  12/1/2018
Halcon Resources Corp         HKUS     9.750     7.500  7/15/2020
Halcon Resources Corp         HKUS    13.000    13.500  2/15/2022
Halcon Resources Corp         HKUS     8.875     7.500  5/15/2021
Halcon Resources Corp         HKUS     9.250     7.790  2/15/2022
Halcon Resources Corp         HKUS    13.000    13.125  2/15/2022
Hexion Inc                    HXN      7.875    20.000  2/15/2023
Hexion Inc                    HXN      9.200    24.500  3/15/2021
Horsehead Holding Corp        ZINC     3.800    11.500   7/1/2017
Horsehead Holding Corp        ZINC    10.500    56.000   6/1/2017
Horsehead Holding Corp        ZINC     9.000    20.000   6/1/2017
Horsehead Holding Corp        ZINC    10.500    55.500   6/1/2017
Horsehead Holding Corp        ZINC    10.500    55.500   6/1/2017
ION Geophysical Corp          IO       8.125    43.900  5/15/2018
Illinois Power Generating Co  DYN      7.000    43.000  4/15/2018
Interactive Network Inc /
  FriendFinder Networks Inc   FFNT    14.000    47.250 12/20/2018
James River Coal Co           JRCC     7.875     3.000   4/1/2019
James River Coal Co           JRCC     4.500     0.400  12/1/2015
James River Coal Co           JRCC     3.125     0.500  3/15/2018
Key Energy Services Inc       KEG      6.750    11.250   3/1/2021
Las Vegas Monorail Co         LASVMC   5.500     5.042  7/15/2019
Legacy Reserves LP / Legacy
  Reserves Finance Corp       LGCY     6.625    11.350  12/1/2021
Legacy Reserves LP / Legacy
  Reserves Finance Corp       LGCY     8.000    16.600  12/1/2020
Lehman Brothers Holdings Inc  LEH      5.000     5.500   2/7/2009
Lehman Brothers Holdings Inc  LEH      4.000     5.500  4/30/2009
Lehman Brothers Inc           LEH      7.500     3.750   8/1/2026
Light Tower Rentals Inc       LHTTWR   8.125    44.500   8/1/2019
Light Tower Rentals Inc       LHTTWR   8.125    44.000   8/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     8.625     1.800  4/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp         LINE    12.000    11.375 12/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     6.500     2.200  5/15/2019
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     6.250     3.000  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     7.750     1.800   2/1/2021
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     6.500     3.375  9/15/2021
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     6.250     3.608  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp         LINE     6.250     3.608  11/1/2019
Logan's Roadhouse Inc         LGNS    10.750    24.667 10/15/2017
MBIA Insurance Corp           MBI     11.882    26.750  1/15/2033
MBIA Insurance Corp           MBI     11.882    17.000  1/15/2033
MF Global Holdings Ltd        MF       6.250    22.125   8/8/2016
MF Global Holdings Ltd        MF       3.375    22.250   8/1/2018
MModal Inc                    MODL    10.750    10.125  8/15/2020
Magnetation LLC /
  Mag Finance Corp            MAGNTN  11.000     6.000  5/15/2018
Magnetation LLC /
  Mag Finance Corp            MAGNTN  11.000     6.625  5/15/2018
Magnetation LLC /
  Mag Finance Corp            MAGNTN  11.000     6.625  5/15/2018
Magnum Hunter Resources Corp  MHRC     9.750    24.000  5/15/2020
Memorial Production
  Partners LP / Memorial
  Production Finance Corp     MEMP     7.625    24.390   5/1/2021
Memorial Production
  Partners LP / Memorial
  Production Finance Corp     MEMP     6.875    22.500   8/1/2022
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO     10.000    26.938   6/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO     10.750     0.125  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO      9.250     1.010   6/1/2021
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO     10.000    28.250   6/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO     10.750     0.045  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO     10.750     0.045  10/1/2020
Modular Space Corp            MODSPA  10.250    28.000  1/31/2019
Modular Space Corp            MODSPA  10.250    27.625  1/31/2019
Molycorp Inc                  MCP     10.000    11.030   6/1/2020
Molycorp Inc                  MCP      5.500     1.500   2/1/2018
Morgan Stanley                MS       1.412    99.990  2/29/2016
Morgan Stanley & Co LLC       MS       2.412    96.000  2/28/2016
Murray Energy Corp            MURREN  11.250    11.750  4/15/2021
Murray Energy Corp            MURREN   9.500    11.500  12/5/2020
Murray Energy Corp            MURREN  11.250    13.750  4/15/2021
Murray Energy Corp            MURREN   9.500    11.500  12/5/2020
Natural Resource Partners
  LP / NRP Finance Corp       NRP      9.125    46.250  10/1/2018
Navistar International Corp   NAV      4.750    35.600  4/15/2019
Navistar International Corp   NAV      4.500    37.600 10/15/2018
Nebraska Book Holdings Inc    NEEB    15.000    81.909  6/30/2016
New Enterprise Stone &
  Lime Co Inc                 NEENST  11.000    57.500   9/1/2018
New Gulf Resources LLC/
  NGR Finance Corp            NGREFN  12.250     5.000  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp            NGREFN  12.250     5.000  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp            NGREFN  12.250    16.250  5/15/2019
Nine West Holdings Inc        JNY      8.250    22.375  3/15/2019
Nine West Holdings Inc        JNY      6.875    16.133  3/15/2019
Nine West Holdings Inc        JNY      6.125    14.000 11/15/2034
Nine West Holdings Inc        JNY      8.250    23.250  3/15/2019
Noranda Aluminum
  Acquisition Corp            NOR     11.000     1.000   6/1/2019
Nuverra Environmental
  Solutions Inc               NESC     9.875     8.800  4/15/2018
OMX Timber Finance
  Investments II LLC          OMX      5.540    13.000  1/29/2020
Oasis Petroleum Inc           OAS      7.250    53.250   2/1/2019
Peabody Energy Corp           BTU      6.000     3.300 11/15/2018
Peabody Energy Corp           BTU      6.500     2.690  9/15/2020
Peabody Energy Corp           BTU     10.000     5.125  3/15/2022
Peabody Energy Corp           BTU      6.250     2.987 11/15/2021
Peabody Energy Corp           BTU      4.750     1.850 12/15/2041
Peabody Energy Corp           BTU      7.875     1.625  11/1/2026
Peabody Energy Corp           BTU     10.000     8.000  3/15/2022
Peabody Energy Corp           BTU      6.000     3.598 11/15/2018
Peabody Energy Corp           BTU      6.000    17.250 11/15/2018
Peabody Energy Corp           BTU      6.250     2.750 11/15/2021
Peabody Energy Corp           BTU      6.250     2.187 11/15/2021
Penn Virginia Corp            PVAH     8.500    10.000   5/1/2020
Penn Virginia Corp            PVAH     7.250     3.980  4/15/2019
Permian Holdings Inc          PRMIAN  10.500    38.625  1/15/2018
Permian Holdings Inc          PRMIAN  10.500    38.625  1/15/2018
PetroQuest Energy Inc         PQ      10.000    56.190   9/1/2017
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                  PRSPCT  10.250    50.500  10/1/2018
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                  PRSPCT  10.250    46.800  10/1/2018
Quicksilver Resources Inc     KWKA     9.125     2.500  8/15/2019
Quicksilver Resources Inc     KWKA    11.000     1.250   7/1/2021
RBS Global Inc / Rexnord LLC  RXN      8.875    99.829   9/1/2016
Resolute Energy Corp          REN      8.500    33.000   5/1/2020
Rex Energy Corp               REXX     8.875     8.458  12/1/2020
Rex Energy Corp               REXX     6.250     8.750   8/1/2022
Rex Energy Corp               REXX     8.875    12.000  12/1/2020
Rex Energy Corp               REXX     8.875    12.000  12/1/2020
Rolta LLC                     RLTAIN  10.750    33.625  5/16/2018
Sabine Oil & Gas Corp         SOGC     7.250     6.938  6/15/2019
Sabine Oil & Gas Corp         SOGC     7.500     7.375  9/15/2020
Sabine Oil & Gas Corp         SOGC     7.500     7.125  9/15/2020
Sabine Oil & Gas Corp         SOGC     7.500     7.125  9/15/2020
SandRidge Energy Inc          SD       8.750    23.750   6/1/2020
SandRidge Energy Inc          SD       7.500     5.450  3/15/2021
SandRidge Energy Inc          SD       8.750     3.000  1/15/2020
SandRidge Energy Inc          SD       8.125     5.230 10/15/2022
SandRidge Energy Inc          SD       7.500     6.000  2/15/2023
SandRidge Energy Inc          SD       8.125     0.375 10/16/2022
SandRidge Energy Inc          SD       8.750    25.000   6/1/2020
SandRidge Energy Inc          SD       7.500     5.125  3/15/2021
SandRidge Energy Inc          SD       7.500     5.125  3/15/2021
Savient Pharmaceuticals Inc   SVNT     4.750     0.225   2/1/2018
Sequa Corp                    SQA      7.000    15.250 12/15/2017
Sequa Corp                    SQA      7.000    15.000 12/15/2017
Seventy Seven Energy Inc      SSE      6.500     5.067  7/15/2022
Seventy Seven Operating LLC   SSE      6.625    10.375 11/15/2019
Seventy Seven Operating LLC   SSE      6.625    17.000 11/15/2019
Seventy Seven Operating LLC   SSE      6.625    11.375 11/15/2019
Sidewinder Drilling Inc       SIDDRI   9.750    38.875 11/15/2019
Sidewinder Drilling Inc       SIDDRI   9.750    38.875 11/15/2019
Skyway Concession Co LLC      SKYCC    0.883    98.000  6/30/2017
Solazyme Inc                  SZYM     6.000    46.140   2/1/2018
Speedy Cash Intermediate
  Holdings Corp               SPEEDY  10.750    50.250  5/15/2018
Speedy Cash Intermediate
  Holdings Corp               SPEEDY  10.750    55.500  5/15/2018
Speedy Cash Intermediate
  Holdings Corp               SPEEDY  10.750    50.125  5/15/2018
Speedy Cash Intermediate
  Holdings Corp               SPEEDY  10.750    50.125  5/15/2018
Speedy Group Holdings Corp    SPEEDY  12.000    46.000 11/15/2017
Speedy Group Holdings Corp    SPEEDY  12.000    46.000 11/15/2017
SquareTwo Financial Corp      SQRTW   11.625    34.000   4/1/2017
Stone Energy Corp             SGY      7.500    26.915 11/15/2022
Stone Energy Corp             SGY      1.750    59.000   3/1/2017
SunEdison Inc                 SUNE     2.000    18.125  10/1/2018
SunEdison Inc                 SUNE     0.250    12.000  1/15/2020
SunEdison Inc                 SUNE     2.375    12.250  4/15/2022
SunEdison Inc                 SUNE     2.625    13.500   6/1/2023
Swift Energy Co               SFY      7.875     9.250   3/1/2022
Swift Energy Co               SFY      7.125     6.000   6/1/2017
Swift Energy Co               SFY      8.875     3.463  1/15/2020
Syniverse Holdings Inc        SVR      9.125    37.250  1/15/2019
TMST Inc                      THMR     8.000    15.250  5/15/2013
Talos Production LLC /
  Talos Production
  Finance Inc                 TALPRO   9.750    29.500  2/15/2018
Talos Production LLC /
  Talos Production
  Finance Inc                 TALPRO   9.750    29.875  2/15/2018
Terrestar Networks Inc        TSTR     6.500    10.000  6/15/2014
TetraLogic
  Pharmaceuticals Corp        TLOG     8.000    26.500  6/15/2019
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     10.250     4.700  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     11.500    30.250  10/1/2020
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     15.000     6.150   4/1/2021
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     10.250     7.000  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     15.000     2.800   4/1/2021
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     11.500    30.750  10/1/2020
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU     10.250     6.250  11/1/2015
Triangle USA Petroleum Corp   TPLM     6.750    13.875  7/15/2022
Triangle USA Petroleum Corp   TPLM     6.750    27.000  7/15/2022
UCI International LLC         UCII     8.625    26.063  2/15/2019
Vanguard Natural
  Resources LLC /
  VNR Finance Corp            VNR      7.875    12.188   4/1/2020
Venoco Inc                    VQ       8.875     3.570  2/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS     11.750    15.872  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS     11.750    18.500  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS     11.750     6.375  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS     11.750     6.375  1/15/2019
W&T Offshore Inc              WTI      8.500    18.450  6/15/2019
Walter Energy Inc             WLTG     9.500    15.500 10/15/2019
Walter Energy Inc             WLTG     9.500    28.500 10/15/2019
Walter Energy Inc             WLTG     9.500    15.250 10/15/2019
Walter Energy Inc             WLTG     9.500    15.250 10/15/2019
Warren Resources Inc          WRES     9.000     0.625   8/1/2022
Whiting Petroleum Corp        WLL      6.500    34.559  10/1/2018
iHeartCommunications Inc      IHRT    10.000    30.500  1/15/2018
iHeartCommunications Inc      IHRT     6.875    50.509  6/15/2018


                            *********

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 2016.  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 ***