TCR_Public/160405.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, April 5, 2016, Vol. 20, No. 96

                            Headlines

18 SHERMAN AVE: Voluntary Chapter 11 Case Summary
207 AINSLIE: Case Summary & 12 Unsecured Creditors
A C MOBILE: Voluntary Chapter 11 Case Summary
ABENGOA BIOENERGY: 341 Meeting of Creditors Set for April 12
ADELPHIA COMMUNICATIONS: Extends Exchange Offers Under Ch.11 Plan

ADM VENDING: Case Summary & 20 Largest Unsecured Creditors
ALABAMA-MISSISSIPPI FARM: Voluntary Chapter 11 Case Summary
ALPHA NATURAL: Wants Mark Manno Designated as Responsible Person
AMERICAN HOSPICE: Hires Dentons US as Counsel
AMERICAN HOSPICE: Hires Kurtzman Carson as Admin Advisor

AMERICAN HOSPICE: Hires Pachulski Stang as Co-Counsel
AMPLIPHI BIOSCIENCES: Incurs $10.8 Million Net Loss in 2015
ANACOR PHARMACEUTICALS: Proposes to Offer $250M Senior Notes
ANTERO ENERGY: Court Approves Frank Broyles as Counsel
ARCH COAL: Lenders Want Exit Plan Filed by April 26

ASHLAND INC: S&P Raises Rating on Subordinated Notes to 'BB'
ASPECT SOFTWARE: 341 Meeting of Creditors Set for April 14
ASPECT SOFTWARE: Moody's Lowers CFR to Caa3, Outlook Stable
ASSIST-MED INC: Voluntary Chapter 11 Case Summary
ATK OILFIELD: Chapter 15 Case Summary

ATK OILFIELD: Seeks U.S. Recognition of Canadian Proceedings
BASIC ENERGY: Board OKs Performance-Based Phantom Stock Awards
BAYTEX CREDIT: Case Summary & 3 Unsecured Creditors
BG MEDICINE: To Voluntarily Deregister Common Stock
BH SUTTON: Lender Asks Court to Dismiss Ch. 11 Case

BREF HR: Incurs $120 Million Net Loss in 2015
BROCK HOLDINGS: Moody's Lowers CFR to Caa1, Outlook Negative
BROOKLYN EVENTS: Voluntary Chapter 11 Case Summary
BROOKLYN RENAISSANCE: Lists $27MM in Assets, $17.5MM in Debts
BUFFINGTON MASON: Case Summary & 5 Unsecured Creditors

CAPITOL LAKES: Creditors' Panel Taps Grant Thornton as Consultant
CAPITOL LAKES: Hires DLA Piper as Bankruptcy Counsel
CATASYS INC: Reports $7.22 Million Net Loss for 2015
CEETOP INC: Needs More Time to File 2015 Form 10-K
CHAPARRAL ENERGY: Reports $1.33 Billion Net Loss for 2015

CHARTER COMMUNICATIONS: Fitch Maintains BB- IDR on Watch Positive
CLEANFUEL USA: Case Summary & 20 Largest Unsecured Creditors
COLORADO TIRE: 341 Meeting of Creditors Set for April 15
COMSTOCK MINING: Closes Public Offering of $3.5M Common Stock
COMSTOCK MINING: Partners with American Mining for Mining Services

CONGREGATION BIRCHOS: Court to Hear Plan Confirmation May 3
CORD BLOOD: Reports $438,000 Net Income for 2015
COYNE INTERNATIONAL: Harbridge Okayed as Pension Consultant
CUMULUS MEDIA: Amends Employment Agreements with Executives
DOLPHIN DIGITAL: Delays Filing of 2015 Form 10-K

DOLPHIN DIGITAL: Incurs $4.05 Million Net Loss in 2015
DRAFTDAY FANTASY: Board OKs Exchange Agreement with MGT
DRAFTDAY FANTASY: Draws Entire $1.5M Under SIC VI Facility
DRAFTDAY FANTASY: Has $500,000 Financing Pact With CEO Affiliate
DRAFTDAY FANTASY: May Issue 150 Shares Under New CL-D Pref. Stock

DRAFTDAY FANTASY: Mulls Possible Reorganization
ELEPHANT TALK: Incurs $5 Million Net Loss in 2015
ELITE ENERGY: Case Summary & 20 Largest Unsecured Creditors
EMEKS REALTY: Case Summary & 16 Unsecured Creditors
EMERALD OIL: April 19 Final Hearing on Equity Trading Protocol

ESCO MARINE: Gets Approval to Settle Dispute With Thalheimer
EXTREME PLASTICS PLUS: Proposes May 23 Deadline for Filing Claims
FANNIE MAE & FREDDIE MAC: A Third Look at the Implicit Guarantee
FINJAN HOLDINGS: Provides Update on Challenges to Its Patents
FORESIGHT ENERGY: Further Extends Forbearance Pacts to April 5

FOREVERGREEN WORLDWIDE: Incurs $2.62 Million Net Loss in 2015
FOUNDATION HEALTHCARE: Reports $5.2 Million Net Income for 2015
FREEDOM COMMUNICATIONS: Gets More Time to Decide on Leases
FRONTIER COMMUNICATIONS: Fitch Affirms 'BB' Issuer Default Rating
FUEL PERFORMANCE: Incurs $1.92 Million Net Loss in 2015

GASTAR EXPLORATION: Provides Operational Update
GELTECH SOLUTIONS: Files Transition Report on Form 10K-T
GENIUS BRANDS: Incurs $3.48 Million Net Loss in 2015
GLYECO INC: Delays 2015 Form 10-K to Complete Audit
GOLD RIVER VALLEY: Court OKs Lone Oak Deal, Closes Case

GRAHAM GULF: Objects to Dafour's Fees, Costs and Expenses
GREAT LAKES COMNET: Committee Hires Jaffe Raitt as Local Counsel
GREAT LAKES COMNET: Creditors' Committee Taps Cooley as Counsel
GREAT LAKES COMNET: U.S. Trustee Appoints 7-Member Committee
GREAT LAKES: Has Final Court OK to Borrow $5.5-Mil. from CoBank

GUIDED THERAPEUTICS: Issues Letter to Shareholders
HAGGEN HOLDINGS: Seeks $68-Mil. Refinance of DIP Facility
HANCOCK FABRICS: Court Okays GOB Sales for 185 Outlets
HEMCON MEDICAL: Court to Hold Hearing on Asset Sale April 6
HHH CHOICES: Court Approves Alston & Bird as Committee Counsel

HHH CHOICES: Patient Care Ombudsman Taps Gibbons as Counsel
HIGH RIDGE: Gets Court Approval to Pay 2015 Income Tax
HORSEHEAD HOLDING: Panel Hires Drinker Biddle as Co-counsel
HORSEHEAD HOLDING: Taps Klehr Harrison as Harvey Tepner's Counsel
HORSEHEAD HOLDING: Zochem OK'd as Canadian Foreign Representative

INSIGHT GLOBAL: Moody's Affirms 'B1' Corporate Family Rating
INTERNATIONAL TECHNICAL: Gets Court Approval to Hire Dinsmore
INVENTIV HEALTH: Paul Meister Resigns as Director
INVERSIONES ARAXI: Case Summary & 11 Unsecured Creditors
IRONSTONE GROUP: Delays 2015 Annual Report Over CFO Resignation

JAMES RIVER COAL: Court Confirms 2nd Amended Liquidation Plan
KEITHVILLE WELL: Case Summary & 20 Largest Unsecured Creditors
KIRWAN OFFICES: Lapidem, Mascini Want Plan Exclusivity Terminated
LATTICE INC: Delays 2015 Form 10-K for Review
LEE STEEL: Changes Name to LSC Liquidation Following Asset Sale

LEE STEEL: Wants Union Partners to Give Access to Information
LEO MOTORS: Reports $4.49 Million Net Loss for 2015
LIME ENERGY: Incurs $4.44 Million Net Loss in 2015
LIONS GATE: Moody's Affirms Ba3 CFR & Changes Outlook to Negative
LIQUID HOLDINGS: Case Converted to Chapter 7 Liquidation

MARINA BIOTECH: Provides 2015 Year-End Financials and Update
MARINA BIOTECH: Reports $2.64 Million Net Income for 2015
MBB MANAGEMENT: Voluntary Chapter 11 Case Summary
MGM GROWTH: Moody's Assigns '(P)B1' CFR, Outlook Stable
MIDSTATES PETROLEUM: Reports $1.79 Billion Net Loss for 2015

MILESTONE SCIENTIFIC: Needs More Time to File 2015 Annual Report
MOLYCORP INC: Court Confirms 4th Joint Amended Reorganization Plan
MOLYCORP INC: Milbank Advised Oakley in Ch. 11 Case
MOLYCORP INC: Wells Fargo, Noteholders vs. Collateral Surcharge
MOLYCORP: Wants Tolleson Assets Sold to Eutectix for $2.5M

N-VIRO INTERNATIONAL: Delays Filing of 2015 Annual Report
NAS HOLDINGS: Case Summary & 9 Unsecured Creditors
NATURAL MOLECULAR: Redmond Seeks to Foreclose on Wash. Property
NEPHROS INC: Reports $3.08 Million Net Loss for 2015
NET DATA: Exclusivity Plan Proposal Period Extended to June 1

NET ELEMENT: Reports $13.3 Million Net Loss for 2015
NEW GULF RESOURCES: Defends Baker Botts Fee Premium
NEW GULF RESOURCES: Grant Thornton Okayed as Independent Auditor
NEWZOOM INC: Court Approves FTI Consulting Employment
NNN DORAL COURT 3: Trustee Serving as Plan Administrator

NORTH AMERICAN REALTY: Voluntary Chapter 11 Case Summary
NORTH LAS VEGAS, NV: Fitch Affirms 'B' Rating on LTGO Bonds
NORTHWEST TERRITORIAL: Case Summary & 20 Top Unsecured Creditors
NOVINDA CORP: Case Summary & 20 Largest Unsecured Creditors
NUO THERAPEUTICS: Has Final Court OK to Tap $6-Mil. DIP Financing

OMNICOMM SYSTEMS: Posts $2.40 Million Net Income for 2015
ONEMAIN HOLDINGS: Moody's Affirms B3 CFR on SpringCastle Stake Sale
OXYSURE THERAPEUTICS: Delays Filing of 2015 Annual Report
PARAGON OFFSHORE: Hires Clyde & Co as Special Counsel
PARAGON OFFSHORE: Hires Weil Gotshal as Attorneys

PARAGON OFFSHORE: Wants to Pay Advisors' Professional Fees
PATSY JEAN: Voluntary Chapter 11 Case Summary
PHILADELPHIA SCHOOL: Moody's Affirms Ba3 Rating on $3.1BB GO Debt
PLASTIC2OIL INC: Delays Filing of 2015 Annual Report
POSITRON CORP: Needs More Time to File 2015 Form 10-K

POSTROCK ENERGY: Case Summary & 20 Largest Unsecured Creditors
POSTROCK ENERGY: Consents to Appointment of a Chapter 11 Trustee
POSTROCK ENERGY: Files for Ch. 11 Protection to Facilitate Sale
PRA HEALTH: S&P Raises CCR to 'BB-', Outlook Stable
PRECYSE ACQUISITION: S&P Lowers CCR to 'B-', Outlook Stable

PRESSURE BIOSCENCES: Delays Filing of Form 10-K Report
PRIMORSK SHIPPING: Drops Restructuring Plans to Pursue Sale
PURADYN FILTER: Incurs $1.44 Million Net Loss in 2015
RCS CAPITAL: Creditors' Panel Hires FTI as Financial Advisor
RCS CAPITAL: Creditors' Panel Hires Gibson Dunn as Counsel

RCS CAPITAL: Creditors' Panel Hires Klehr Harrison as Co-counsel
RCS CAPITAL: Prime Clerk Approved as Claims and Noticing Agent
REX ENERGY: Moody's Lowers CFR to Ca, Outlook Remains Negative
REXFORD PROPERTIES: Hires Palmer to Appraise Island Waterpark
RICEBRAN TECHNOLOGIES: Reports $10.6 Million Net Loss for 2015

RIVERSIDE PLAZA: Seeks April 12 Extension of Schedules
RIVERSIDE PLAZA: Seeks to Use UCF Cash Collateral
SANUWAVE HEALTH: Incurs $4.81 Million Net Loss in 2015
SARATOGA RESOURCES: Balks at ERG Bid to Convert Case
SCRUB ISLAND: Reorganized SIDG Can Borrow $6MM from J. Appleton

SDI SOLUTIONS: 341 Meeting of Creditors Set for April 22
SEA SHELL COLLECTIONS: Case Summary & 8 Unsecured Creditors
SOUTHCROSS ENERGY: S&P Lowers CCR to 'CCC+', Outlook Negative
SPANISH BROADCASTING: Delays Filing of 2015 Annual Report
SQUARETWO FINANCIAL: S&P Lowers ICR to 'D' on Missed Payment

STELLAR BIOTECHNOLOGIES: TSX-V Delisting Takes Effect April 8
STEWARD HEALTH: Moody's Raises CFR to B2, Outlook Stable
SUNDEVIL POWER: Hires Drinker Biddle as Counsel
SUNDEVIL POWER: Hires Garden City as Administrative Agent
SUNDEVIL POWER: Hires Jefferies as Financial Advisor

SUNVALLEY SOLAR: Needs More Time to File 10-K
TELEFLEX INC: S&P Raises CCR to 'BB+', Outlook Stable
TELKONET INC: Hires Canaccord Genuity as Financial Advisor
TELKONET INC: Incurs $207,000 Net Loss in 2015
TERRAFORM GLOBAL: S&P Affirms 'B-' ICR, Outlook Remains Stable

TERRAFORM POWER: S&P Affirms 'B-' ICR, Outlook Remains Stable
TEXARKANA HOTELS: Voluntary Chapter 11 Case Summary
TONGJI HEALTHCARE: Delays Filing of 2015 Form 10-K
TRANS COASTAL: Seeks July 20 Extension for Chapter 11 Plan Filing
TRANS-LUX CORP: Reports Significantly Improved 2015 Results

TRANSGENOMIC INC: Delays Filing of 2015 Annual Report
TRICORBRAUN INC: S&P Affirms 'B' LongTerm CCR, Outlook Stable
TRISTREAM EAST: Case Summary & 20 Largest Unsecured Creditors
TUCSON COUNTY SCHOOL: S&P Alters Outlook on BB Rating to Stable
UNI-PIXEL INC: Incurs $37 Million Net Loss in 2015

UNITED BANCSHARES: Delays Filing of 2015 Form 10-K
VERITEQ CORP: Needs More Time to File 2015 Form 10-K
VERIZON COMMUNICATIONS: Subsidiary Debt Ratings Raised, S&P Says
VERMILLION INC: Incurs $19.1 Million Net Loss in 2015
VERSO CORP: NewPage Taps Latham & Watkins as Conflicts Counsel

VERSO CORP: Taps Paul Weiss to Handle General Corporate Matters
VERSO CORP: Taps Whiteford Taylor as Delaware Conflicts Counsel
VICTORY ENERGY: Needs More Time to File 2015 Annual Report
VISCOUNT SYSTEMS: Delays Filing of 2015 Annual Report
VISUALANT INC: Files Resale Prospectus with SEC

VYCOR MEDICAL: Incurs $2.25 Million Net Loss in 2015
ZAYO GROUP: Moody's Raises Rating on Sr. Unsecured Notes to B3
[*] Moody's Concludes Rating Reviews on 3 US B-Rated E&P Companies
[*] Shinjiro Takagi Joins Morgan Lewis' Tokyo Office as Of Counsel
[^] Large Companies with Insolvent Balance Sheet


                            *********

18 SHERMAN AVE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: 18 Sherman Ave LLC
        1200 East Putnam Avenue
        Riverside, CT 06878

Case No.: 16-50466

Chapter 11 Petition Date: April 1, 2016

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

Judge: Hon. Ann M. Nevins

Debtor's Counsel: Frank G. Corazzelli, Esq.
                  KASURI & CORAZZELLI , LLC
                  4 Research Drive, Suite 402
                  One Reservoir Corporate Center
                  Shelton, CT 06484
                  Tel: (203) 706-5920
                  E-mail: fecoraz@optonline.com
                         kasurilawoffices@gmail.com

Total Assets: $4.12 million

Total Liabilities: $9.07 million

The petition was signed by Pamela P. Gabriel, managing member.

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


207 AINSLIE: Case Summary & 12 Unsecured Creditors
--------------------------------------------------
Debtor: 207 Ainslie, LLC
        100A Broadway, #110
        Brooklyn, NY 11249

Case No.: 16-41426

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Kevin J Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212) 301-6944
                  Fax: (212) 422-6836
                  E-mail: KNash@gwfglaw.com

Total Assets: $14 million

Total Debts: $5.07 million

The petition was signed by Harry Einhorn, manager.

List of Debtor's 12 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
AAA Group                        Surveying Services      $12,500

Active Environmental                   Services          $11,600

Axle RR                                Services         $180,000

Boris Sasks Esq., PLLC             Legal Services        $23,000

FCT Contruction LLC                    Services         $196,680

JDI Brokerage                          Services          $18,000

Republic Valuation                     Services          $12,000

Salamon Engineering                    Services          $14,800

Sidraine & Sidraine                 Legal Services       $58,000

Strekte LLC                            Services         $260,000
BO Box 21041
Brooklyn, NY
11202-1041

Titan Engineers, P.C.                  Services          $14,500

ZCCG Architects                      Architectural       $78,000
                                        Services


A C MOBILE: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: A C Mobile, Inc.
           dba A C Gulf
        5715 Lookout Mountain Drive
        Houston, TX 77069

Case No.: 16-31629

Chapter 11 Petition Date: April 3, 2016

Court: United states Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Karen K. Brown

Debtor's Counsel: Margaret Maxwell McClure, Esq.
                  LAW OFFICE OF MARGARET M. MCCLURE
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: 713-659-1333
                  Fax: 713-658-0334
                  Email: margaret@mmmcclurelaw.com

Total Assets: $680,758

Total Liabilities: $2.27 million

The petition was signed by Mike Y. Zaghbour, president.

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


ABENGOA BIOENERGY: 341 Meeting of Creditors Set for April 12
------------------------------------------------------------
The meeting of creditors of Abengoa Bioenergy US Holding LLC and
its affiliates is set to be held on April 12, 2016, at 11:00 a.m.,
according to a filing with the U.S. Bankruptcy Court for the
Eastern District of Missouri.

The meeting will be held at Thomas F. Eagleton U. S. Courthouse,
Suite 21.130 (Conference Room B), 111 South 10th Street, St. Louis,
Missouri.

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 Abengoa Bionergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941.  The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri.  With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and water
projects.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.

                        About Abengoa S.A.

Spanish energy giant Abengoa S.A. is a leading engineering and
clean technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors.  Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

As of the end of 2015, Abengoa, S.A. was the parent company of 687
other companies around the world, including 577 subsidiaries, 78
associates, 31 joint ventures, and 211 Spanish partnerships.
Additionally, the Abengoa Group held a number of other interests of
less than 20% in other entities.

On Nov. 25, 2015 in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan with
its banks and bondholders, without which it could be forced to
declare bankruptcy.

On March 16, 2016, Abengoa presented its Business Plan and
Financial Restructuring Plan in Madrid to all of its stakeholders.


                       U.S. Bankruptcies

Abengoa, S.A., and 24 of its subsidiaries filed Chapter 15
petitions (Bankr. D. Del. Case Nos. 16-10754 to 16-10778) on March
28, 2016, to seek U.S. recognition of its restructuring proceedings
in Spain.  Christopher Morris signed the petitions as foreign
representative.  DLA Piper LLP (US) represents the Debtors as
counsel.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC").  ABC's involuntary Chapter
7 case is Bankr. D. Kan. Case No. 16-20178.  ABNE's involuntary
case is Bankr. D. Neb. Case No. 16-80141.  An order for relief has
not been entered, and no interim Chapter 7 trustee has been
appointed in the Involuntary Cases.  The petitioning creditors are
represented by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and 5 five
other U.S. units of Abengoa S.A., which collectively own, operate,
and/or service four ethanol plants in Ravenna, York, Colwich, and
Portales, each filed a voluntary petition for relief under Chapter
11 of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Eastern District of Missouri.  The cases
are pending before the Honorable Kathy A.  Surratt-States and are
jointly administered under Case No. 16-41161.

Abeinsa Holding Inc., and 12 other affiliates, which are energy,
engineering and environmental companies and indirect subsidiaries
of Abengoa, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Proposed Lead Case No. 16-10790) on March 29, 2016.


ADELPHIA COMMUNICATIONS: Extends Exchange Offers Under Ch.11 Plan
-----------------------------------------------------------------
ACC Claims Holdings, LLC announced the extension of offers to
Eligible Holders to exchange (i) class A limited liability company
interests of ACC Claims Holdings, LLC for up to all of the
outstanding ACC Senior Notes Claims (Class ACC 3) allowed under the
Plan of Reorganization, including any post-petition pre-effective
date interest and post-effective date interest to and including the
extended expiration date of the offers (the "Senior Claims"),
against Adelphia Communications Corporation, and (ii) class B
limited liability company interests of ACC Claims Holdings, LLC for
up to all of the outstanding ACC Trade Claims (Class ACC 4) allowed
under the Plan of Reorganization, including any post-petition
pre-effective date interest and post-effective date interest to and
including the extended expiration date of the offers (the "ACC 4
Claims"), and ACC Other Unsecured Claims (Class ACC 5) allowed
under the Plan of Reorganization, including any post-petition
pre-effective date interest and post-effective date interest to and
including the extended expiration date of the offers (the "ACC 5
Claims" and, together with the ACC 4 Claims, the "Other Claims";
the Senior Claims and the Other Claims, together, the "Claims"),
against Adelphia Communications Corporation until 5:00 p.m., New
York City time, on Thursday, April 7, 2016.  The exchange offers
were previously scheduled to expire at 5:00 p.m., New York City
time, on Thursday, March 31, 2016.  As of 5:00 p.m., New York City
time, on Thursday, March 31, 2016, Eligible Holders of
$2,915,671,408 original principal amount of Senior Claims
outstanding, Eligible Holders of $176,999,113.13 of ACC 4 Claims
outstanding and Eligible Holders of $0 of ACC 5 Claims outstanding
had validly tendered their Claims pursuant to the exchange offers.


ACC Claims Holdings, LLC recognizes that the Claims will continue
to accrue post-effective date interest between the original
expiration date and the extended expiration date.  Therefore, the
consideration offered to Eligible Holders will be increased by a
corresponding amount.

Except as set forth herein, the terms and conditions of the
exchange offers remain unchanged.  ACC Claims Holdings, LLC
reserves the right to further extend the exchange offers prior to
the termination of the extended expiration date.  ACC Claims
Holdings, LLC does not contemplate any such additional extensions
of the exchange offers at this time.

The exchange offers are being made pursuant to (i) the offers to
exchange, dated March 3, 2016, and supplemented and amended on
March 9, 2016, March 21, 2016 and on the date hereof and (ii) the
related letter of transmittal, dated as of March 3, 2016 and
supplemented and amended on March 21, 2016.

The exchange offers will only be made, and the offers to exchange
and the related letter of transmittal will only be distributed to,
holders who complete, execute and return an eligibility form
confirming that they are qualified purchasers ("Qualified
Purchasers") as defined in Section 2(a)(51)(A) of the Investment
Company Act of 1940, as amended (except to the extent waived by the
managing member of ACC Claims Holdings, LLC), excluding Benefit
Plan Investors (as defined below) (except as provided for and
subject to the terms of the exchange offers, as amended), each of
which is (x) a qualified institutional buyer within the meaning of
Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"), (y) an institutional investor that qualifies as
an "accredited investor" pursuant to Rule 501(a)(1), (2), (3) or
(7) under the Securities Act or (z) not a U.S. person in an
offshore transaction, in each case as defined in Regulation S under
the Securities Act (such persons, "Eligible Holders"). "Benefit
Plan Investor" means a benefit plan investor, as defined in Section
3(42) of the Employee Retirement Income Security Act of 1974, as
amended ("ERISA"), and includes (a) an employee benefit plan (as
defined in Section 3(3) of Title I of ERISA) that is subject to the
fiduciary responsibility provisions of Title I of ERISA, (b) a plan
that is subject to Section 4975 of the Internal Revenue Code of
1986, as amended (the "Code"), or (c) any entity whose underlying
assets include, or are deemed for purposes of ERISA or the Code to
include, "plan assets" by reason of any such employee benefit
plan's or plan's investment in the entity.  Holders who desire to
obtain and complete an eligibility form should either visit the
website for this purpose at www.dfking.com/adelphia or call D.F.
King & Co., Inc., the information agent and exchange agent for the
exchange offers, at (800) 761-6523 (toll-free) or (212) 269-5550
(collect for banks and brokers only).

The managing member of ACC Claims Holdings, LLC may, in its sole
discretion, waive the restriction on tenders by Benefit Plan
Investors.  However, the managing member is not required to accept
a tender in whole or in part from an investor that is a Benefit
Plan Investor, and reserves the right to reject in its complete
discretion any tender by a Benefit Plan Investor.

                  About Adelphia Communications

Based in Coudersport, Pennsylvania, Adelphia Communications
Corporation was once the fifth-biggest cable company.  Adelphia
served customers in 30 states and Puerto Rico, and offered analog
and digital video services, Internet access and other advanced
services over its broadband networks.

Adelphia collapsed in 2002 after disclosing that founder John Rigas
and his family owed $2.3 billion in off-balance-sheet debt on bank
loans taken jointly with the company.  Mr. Rigas was sentenced to
12 years in prison, while son Timothy 15 years.

Adelphia Communications and its more than 200 affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 02-41729) on
June 25, 2002.  Willkie Farr & Gallagher represented the Debtors
in their restructuring effort.  PricewaterhouseCoopers served as
the Debtors' financial advisor.  Kasowitz, Benson, Torres &
Friedman LLP and Klee, Tuchin, Bogdanoff & Stern LLP represented
the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas-Managed Entities, were
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision LLC.  The RME Debtors filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642) on March 31,
2006.  Their cases were jointly administered under Adelphia
Communications and its debtor-affiliates' Chapter 11 cases.

The Bankruptcy Court confirmed the Debtors' Joint Chapter 11 Plan
of Reorganization on Jan. 5, 2007.  The Plan became effective on
Feb. 13, 2007.

The Adelphia Recovery Trust, a Delaware Statutory Trust, was formed
pursuant to the Plan.  The Trust holds certain litigation claims
transferred pursuant to the Plan against various third parties and
exists to prosecute the causes of action transferred to it for the
benefit of holders of Trust interests.  Lawyers at Kasowitz,
Benson, Torres & Friedman, LLP (NYC), represent the Adelphia
Recovery Trust.


ADM VENDING: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: ADM Vending, Inc.
           fdba ADM Vending & Coffee
        20 Continental Blvd
        Merrimack, NH 03054

Case No.: 16-10477

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       District of New Hampshire (Manchester)

Debtor's Counsel: William S. Gannon, Esq.
                  WILLIAM S. GANNON PLLC
                  889 Elm Street, 4th Floor
                  Manchester, NH 03101
                  Tel: (603) 621-0833
                  Fax: (603) 621-0830
                  Email: bgannon@gannonlawfirm.com

Total Assets: $1.82 million

Total Liabilities: $599,764

The petition was signed by Daniel Mendenhall, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nhb16-10477.pdf


ALABAMA-MISSISSIPPI FARM: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: Alabama-Mississippi Farm Inc.
        P.O. Box 149
        Eutaw, AL 35462

Case No.: 16-01156

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       Southern District of Mississippi
      (Jackson-3 Divisional Office)

Debtor's Counsel: Craig M. Geno, Esq.
                  LAW OFFICES OF CRAIG M. GENO, PLLC
                  587 Highland Colony Pkwy.
                  Ridgeland, MS 39157
                  Tel: 601 427-0048
                  Fax: 601-427-0050
                  E-mail: cmgeno@cmgenolaw.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Barry Walker, president.

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


ALPHA NATURAL: Wants Mark Manno Designated as Responsible Person
----------------------------------------------------------------
Alpha Natural Resources, Inc., et al., ask the U.S. Bankruptcy
Court for the Eastern District of Virginia to (i) enter an amended
order of designation; and (ii) designate Mark M. Manno, executive
vice president, general counsel and chief procurement officer of
ANR, as the individual responsible for "performing the duties
imposed upon the Debtors by the Bankruptcy Code.

The Debtors also request that the designation remain in effect
during the pendency of the cases unless altered by order of the
Court.

The Debtors have discussed this change of designation with the
Office of the United States Trustee for the Eastern District of
Virginia, and the U.S. Trustee has indicated that it has no
objection to the proposed change.

On Aug. 6, 2015, the Court designated Richard H. Verheij, the
then-vice president and secretary of ANR as the individual
responsible for "performing the duties imposed upon the Debtors by
the Bankruptcy Code."  The order of designation provides that it
will remain in effect during the pendency of the Debtors' chapter
11 cases until "altered by order of the Court."

On Dec. 21, 2015, Mr. Verheij resigned from (a) each of his
positions at ANR; and (b) each of his positions at ANR's
subsidiaries.  On December 31, 2015, Mr. Verheij resigned his
position as ANR's executive vice president, at which point he was
no longer employed by the Debtors in any capacity.  Accordingly,
Mr. Verheij can no longer serve as the Debtor Designee in the
chapter 11 cases.

              About Alpha Natural Resources

Headquartered in Bristol, Virginia, 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. As of August 2015,
Alpha had 8,000 full time employees across many different states,
with UMWA representing 1,000 of the employees.

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 petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

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.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the 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 Resources, Inc. on March 8 disclosed that it has
filed a proposed Chapter 11 Plan of Reorganization and a related
Disclosure Statement with the United States Bankruptcy Court for
the Eastern District of Virginia.  Together with the
recently-filed motion seeking approval of a marketing process for
Alpha's core
operating assets, these filings provide for the sale of Alpha's
assets, detail a path toward the resolution of all creditor
claims, and anticipate the emergence of a streamlined and
sustainable
reorganized company able to satisfy its environmental obligations
on an ongoing basis.  By selling certain assets as a going concern
and restructuring the company's remaining assets into a
reorganized Alpha, the company is able to provide maximum recovery
to its creditors, while preserving jobs and putting itself in the
best position to meet its reclamation obligations.  This path will
allow for a conclusion of Alpha's bankruptcy proceedings by
June 30, 2016.


AMERICAN HOSPICE: Hires Dentons US as Counsel
---------------------------------------------
American Hospice Management Holdings, LLC, et al., seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Dentons US LLC as counsel to the Debtors, nunc pro tunc to
March 20, 2016.

American Hospice requires Dentons US to:

   (a) advise the Debtors with respect to its powers and duties
       as debtors and debtors-in-possession in the continued
       management and operation of their businesses and property;

   (b) attend meetings and negotiate with representatives of
       creditors and other parties in interest and advise and
       consult on the conduct of the Chapter 11 cases, including
       all of the legal and administrative requirements of
       operating in chapter 11;

   (c) take necessary action to protect and preserve the Debtors'
       estates, including the prosecution of actions on Debtors'
       behalf, the defense of any actions commenced against the
       estates, negotiations concerning all litigation in which
       the Debtors may be involved and objections to claims filed
       against the estates;

   (d) review and prepare on behalf of the Debtor all documents
       and agreements as they become necessary and desirable;

   (e) review and prepare on behalf of the Debtors all motions,
       administrative and procedural applications, answers,
       orders, reports and papers necessary to the administration
       of the estates;

   (f) advise the Debtors in connection with any sale of assets;

   (g) negotiate and prepare on the Debtors' behalf any chapter
       11 plan, disclosure statement and all related agreements
       and/or documents and take any necessary action on behalf
       of the Debtors to obtain confirmation of such plan;

   (h) review and object to claims;

   (i) analyze, recommend, prepare, and bring any causes of
       action created under the Bankruptcy Code;

   (j) appear before the Bankruptcy Court, any appellate courts,
       and the U.S. Trustee, and protect the interests of the
       Debtors' estates before such courts and the U.S. Trustee;
       and

   (k) perform all other necessary legal services and give all
       other necessary legal advice to the Debtors in connection
       with the Chapter 11 cases.

The hourly rates of Dentons US professionals are:

     a. Partners and senior counsel            $400-$1,240
     b. Counsel                                $315-$875
     c. Associates                             $220-$595
     d. Paraprofessionals                      $195-$350

The principal attorneys and paralegal presently designated to
represent the Debtors and their hourly rates are:

     Professional              Position              Hourly Rate
     ------------              --------              -----------
     Samuel R. Maizel          Partner                  $840
     Gary W. Marsh             Partner                  $730
     David Gordon              Partner                  $615
     James A. Copeland         Associate                $585
     Matthew Weiss             Associate                $490
     Dan Pina                  Paralegal                $380

Dentons US will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Samuel R. Maizel, partner of Dentons US LLP, 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.

Dentons can be reached at:

     Samuel R. Maizel, Esq.
     DENTONS US LLP
     601 S. Figueroa Street, Suite 2500
     Los Angeles, CA 90017
     Tel: (213) 623-9300
     Fax: (213) 623-9924
     E-mail: samuel.maizel@dentos.com

                        About American Hospice

Headquartered in Jacksonville, Florida, American Hospice Management
Holdings, LLC is a hospice care provider for patients with
conditions including, among other things, cancer, cardiopulmonary
diseases, Alzheimer's and strokes. American Hospice currently
provides hospice care in the following six markets: (i) Phoenix,
Arizona; (ii) Houston, Texas; (iii) Oklahoma City, Oklahoma; (iv)
Atlanta, Georgia; (v) Richmond and Central Virginia; and (vi) New
Jersey.  The Company employs 365 people.

American Hospice and 10 of its affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Proposed Lead Case No.
16-10670) on March 20, 2016.  Scott Mahosky signed the petition as
chief executive officer. The Debtors estimated assets in the range
of $10 million to $50 million and liabilities of up to $50
million.

The Debtors have hired Denton US LLP as counsel, Pachulski Stang
Ziehl & Jones LLP as co-counsel, Harris Williams & Co. as
investment banker, and Kurtzman Carson Consultants, LLC as notice
and claims agent.

Each of the Debtors is owned 100% by American Hospice Management
Holdings, LLC which is a Delaware limited liability company. The
majority owner of American Hospice Management Holdings, LLC is
American Hospice Holdings Corporation, a Delaware corporation.
American Hospice Holdings Corporation is wholly owned by 2000
Riverside Capital Appreciation Fund, L.P.


AMERICAN HOSPICE: Hires Kurtzman Carson as Admin Advisor
--------------------------------------------------------
American Hospice Management Holdings, LLC, et al., seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Kurtzman Carson Consultants LLC as administrative advisor to
the Debtors, nunc pro tunc to March 20, 2016.

American Hospice requires Kurtzman Carson to:

   a. assist with, among other things, solicitation, balloting,
      and tabulation and calculation of votes, as well as
      preparing any appropriate reports, as required in
      furtherance of confirmation of chapter 11 plan;

   b. generate an official ballot certification and testifying,
      if necessary, in support of the ballot tabulation results;

   c. gather data in conjunction with the preparation, and assist
      with the preparation, of the Debtors' schedules of assets
      and liabilities and statements of financial affairs;

   d. provide a confidential data room;

   e. manage any distributions pursuant to a confirmed chapter 11
      plan; and

   f. provide such other claims processing, noticing,
      solicitation, balloting, and administrative services
      described in the Services Agreement, but not included in
      the Section 156(c) Application, as may be requested from
      time to time by the Debtors.

Prior to the petition date, the Debtors provided Kurtzman Carson a
retainer in the amount of $20,000. Kurtzman Carson seeks to hold
such retainer under the Services Agreement during the cases as
security for the payment of fees and expenses incurred under the
Services Agreement.

The Debtors have agreed to certain indemnification and contribution
obligations as part of the overall compensation payable to Kurtzman
Carson.

Evan Gershbein, senior vice president of corporate restructuring
services at Kurtzman Carson Consultants LLC, 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.

Kurtzman Carson can be reached at:

     Evan Gershbein
     KURTZMAN CARSON CONSULTANTS LLC
     2335 Alaska Ave.
     El Segundo, CA 90245
     Tel: (310) 823-9000
     Fax: (310) 823-9133

                        About American Hospice

Headquartered in Jacksonville, Florida, American Hospice Management
Holdings, LLC is a hospice care provider for patients with
conditions including, among other things, cancer, cardiopulmonary
diseases, Alzheimer's and strokes. American Hospice currently
provides hospice care in the following six markets: (i) Phoenix,
Arizona; (ii) Houston, Texas; (iii) Oklahoma City, Oklahoma; (iv)
Atlanta, Georgia; (v) Richmond and Central Virginia; and (vi) New
Jersey.  The Company employs 365 people.

American Hospice and 10 of its affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Proposed Lead Case No.
16-10670) on March 20, 2016.  Scott Mahosky signed the petition as
chief executive officer. The Debtors estimated assets in the range
of $10 million to $50 million and liabilities of up to $50
million.

The Debtors have hired Denton US LLP as counsel, Pachulski Stang
Ziehl & Jones LLP as co-counsel, Harris Williams & Co. as
investment banker, and Kurtzman Carson Consultants, LLC as notice
and claims agent.

Each of the Debtors is owned 100% by American Hospice Management
Holdings, LLC which is a Delaware limited liability company. The
majority owner of American Hospice Management Holdings, LLC is
American Hospice Holdings Corporation, a Delaware corporation.
American Hospice Holdings Corporation is wholly owned by 2000
Riverside Capital Appreciation Fund, L.P.


AMERICAN HOSPICE: Hires Pachulski Stang as Co-Counsel
-----------------------------------------------------
American Hospice Management Holdings, LLC, et al., seek authority
from the U.S. Bankruptcy Court for the District of Delaware to
employ Pachulski Stang Ziehl & Jones LLP as co-counsel to the
Debtors, nunc pro tunc to March 20, 2016.

American Hospice requires Pachulski Stang to:

   a. provide legal advice regarding local rules, practices, and
      procedures;

   b. review and comment on drafts of documents to ensure
      compliance with local rules, practices, and procedures;

   c. file documents as requested by co-counsel and coordinating
      with the Debtors' claims agent for service of documents;

   d. prepare agenda letters, certificates of no objection,
      certifications of counsel, and notices of fee applications
      and hearing;

   e. prepare hearing binders of documents and pleadings,
      printing of documents and pleadings for hearings;

   f. appear in Court and at any meeting of creditors on behalf
      of the Debtors in its capacity as co-counsel;

   g. monitor the docket for filings and coordinating with co-
      counsel on pending matters that need responses;

   h. prepare and maintain critical dates memorandum to monitor
      pending applications, motions, hearing dates and other
      matters and the deadlines associated with same; distribute
      critical dates memorandum with co-counsel for review and
      any necessary coordination for pending matters;

   i. handle inquiries and calls from creditors and counsel to
      interested parties regarding pending matters and the
      general status of the Bankruptcy Cases, and, to the extend
      required, coordinating with co-counsel on any necessary
      responses; and

   j. provide additional administrative support to co-counsel, as
      requested.

The principal attorneys and paraprofessionals presently designated
to represent the Debtors and their current standard hourly rates
are:

     a. Laura Davis Jones             $1,050
     b. Colin R. Robinson             $695
     c. Monica A. Molitor             $325

Pachulski Stang will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Laura Davis Jones, partner of Pachulski Stang Ziehl & Jones LLP,
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.

Pachulski Stang can be reached at:

     Laura Davis Jones, Esq.
     PACHULSKI STANG ZIEHL & JONES LLP
     919 North Market Street, 17th Floor
     PO Box 8705
     Wilmington, DE 19899
     Tel: (302) 652-4100
     Fax: (302) 652-4400
     E-mail: ljones@pszjlaw.com

                        About American Hospice

Headquartered in Jacksonville, Florida, American Hospice Management
Holdings, LLC is a hospice care provider for patients with
conditions including, among other things, cancer, cardiopulmonary
diseases, Alzheimer's and strokes. American Hospice currently
provides hospice care in the following six markets: (i) Phoenix,
Arizona; (ii) Houston, Texas; (iii) Oklahoma City, Oklahoma; (iv)
Atlanta, Georgia; (v) Richmond and Central Virginia; and (vi) New
Jersey.  The Company employs 365 people.

American Hospice and 10 of its affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Proposed Lead Case No.
16-10670) on March 20, 2016.  Scott Mahosky signed the petition as
chief executive officer. The Debtors estimated assets in the range
of $10 million to $50 million and liabilities of up to $50
million.

The Debtors have hired Denton US LLP as counsel, Pachulski Stang
Ziehl & Jones LLP as co-counsel, Harris Williams & Co. as
investment banker, and Kurtzman Carson Consultants, LLC as notice
and claims agent.

Each of the Debtors is owned 100% by American Hospice Management
Holdings, LLC which is a Delaware limited liability company. The
majority owner of American Hospice Management Holdings, LLC is
American Hospice Holdings Corporation, a Delaware corporation.
American Hospice Holdings Corporation is wholly owned by 2000
Riverside Capital Appreciation Fund, L.P.


AMPLIPHI BIOSCIENCES: Incurs $10.8 Million Net Loss in 2015
-----------------------------------------------------------
Ampliphi Biosciences Corporation filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss attributable to common stockholders of $10.79 million on
$475,000 of revenue for the year ended Dec. 31, 2015, compared to
net income attributable to common stockholders of $21.8 million on
$409,000 of revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, AmpliPhi had $31.5 million in total assets,
$6.88 million in total liabilities, $11.89 million in series B
convertible preferred stock, and $12.7 million in total
stockholders' equity.

Ernst & Young LLP, in Richmond, Virginia, issued a "going concern"
qualification on the Company's consolidated financial statements
for the year ended Dec. 31, 2015, citing that the Company has
recurring losses from operations and has a net capital deficiency
that raise substantial doubt about its ability to continue as a
going concern.

As of Dec. 31, 2015, the Company had cash and cash equivalents of
$9.4 million.  Management believes that our existing resources will
be sufficient to fund our planned operations through the third
quarter of 2016.

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

                       http://is.gd/Hz22jq

                          About AmpliPhi

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


ANACOR PHARMACEUTICALS: Proposes to Offer $250M Senior Notes
------------------------------------------------------------
Anacor Pharmaceuticals, Inc., announced that it intends to offer,
subject to market and other considerations, $250,000,000 aggregate
principal amount of Convertible Senior Notes due 2023 in a private
placement under the Securities Act of 1933, as amended.  Anacor
also intends to grant to the initial purchasers of the Convertible
Notes a 30-day option to purchase up to an additional $37,500,000
aggregate principal amount of the Convertible Notes, solely to
cover over-allotments, if any.

In connection with the pricing of the Convertible Notes, Anacor
expects to enter into capped call transactions with one or more
financial institutions (the "option counterparties").  The capped
call transactions are expected to reduce the potential dilution to
Anacor's common stock and/or offset any cash payments that Anacor
will be required to make in excess of the principal amount upon any
conversion of the Convertible Notes, with such reduction and/or
offset subject to a cap.

In connection with establishing their initial hedges of the capped
call transactions, Anacor expects that the option counterparties
(and/or their respective affiliates) will enter into various
derivative transactions with respect to Anacor's common stock
concurrently with or shortly after the pricing of the Convertible
Notes and that the option counterparties (and/or their respective
affiliates) may unwind these various derivative transactions and
purchase shares of Anacor's common stock in open market
transactions shortly following the pricing of the Convertible
Notes.  These activities could have the effect of increasing, or
reducing the size of a decline in, the market price of Anacor's
common stock or the Convertible Notes concurrently with, or shortly
following, the pricing of the Convertible Notes.  In addition, the
option counterparties (and/or their respective affiliates) may
modify their hedge positions by entering into or unwinding various
derivatives with respect to Anacor's common stock and/or purchasing
or selling Anacor's common stock or other securities of Anacor in
secondary market transactions following the pricing of the
Convertible Notes and prior to the maturity of the Convertible
Notes (and are likely to do so during any observation period
related to a conversion of Convertible Notes or following any
repurchase of Convertible Notes by Anacor on any fundamental change
purchase date or otherwise).  Any of these activities could cause
or avoid an increase or a decrease in the market price of Anacor's
common stock or the Convertible Notes, which could affect a
holder's ability to convert the Convertible Notes and, to the
extent the activity occurs during any observation period related to
a conversion of Convertible Notes, it could affect the number of
shares and/or value of the consideration that holders will receive
upon conversion of the Convertible Notes.  In addition, if the
capped call transactions fail to become effective, whether or not
the offering of Convertible Notes is completed, the option
counterparties (and/or their respective affiliates) may unwind
their hedge positions with respect to Anacor's common stock, which
could adversely affect the value of Anacor's common stock and, if
the Convertible Notes have been issued, the value of the
Convertible Notes.

Anacor intends to use a portion of the net proceeds of the offering
to fund the cost of the capped call transactions described above
and the remaining net proceeds for general corporate purposes.  If
the over-allotment option granted to the initial purchasers is
exercised, Anacor may use a portion of the net proceeds from the
sale of additional Convertible Notes to enter into additional
capped call transactions and intends to use the remaining net
proceeds from the sale of additional Convertible Notes for general
corporate purposes.

The Convertible Notes will be general unsecured obligations of
Anacor and interest will be paid semiannually.  Subject to
satisfaction of certain conditions and during certain periods, the
Convertible Notes will be convertible at the option of holders into
cash, shares of Anacor common stock or a combination thereof (with
the form of consideration at Anacor's election).  The Convertible
Notes will not be redeemable at Anacor's option prior to their
maturity date.  The interest rate, conversion rate and other terms
of the Convertible Notes will be determined at the time of the
pricing of the offering.

                 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 $61.2 million on $82.4 million of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $87.1 million on $20.7 million of total revenues for the
year ended Dec. 31, 2014.

As of Dec. 31, 2015, Anacor had $176 million in total assets, $124
million in total liabilities, $49,000 in redeemable common stock,
and $52.3 million in total stockholders' equity.


ANTERO ENERGY: Court Approves Frank Broyles as Counsel
------------------------------------------------------
Antero Energy Partners, LLC, sought and obtained permission from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ Frank L. Broyles, Esq. as lead counsel.

Antero Energy requires Broyles to:

   -- review various documents from the books and records of
      Debtor and its creditors and other books and records in the
      possession of others related to this case;

   -- draft and file typical motions including an application to
      employ Broyles as counsel;

   -- draft and file appropriate motions with respect to
      compensation of professional persons, including Broyles;

   -- provide legal advice to the Debtor with respect to its
      duties and powers;

   -- assist the Debtor in its investigation of its assets,
      liabilities, and financial condition of the Debtor, the
      Debtor's business, and any other matter relevant to the
      Bankruptcy Case or to the formulation of a plan or plans of
      reorganization;

   -- file original and/or amended schedules and statements of
      financial affairs;

   -- assist the Debtor in the formulation of a plan or plans of
      reorganization, including, if necessary, attending and
      assisting in negotiation sessions, discussions and meeting
      with its creditors;

   -- assist the Debtor in the possible sale of its assets
      pursuant to Section 363 of the bankruptcy code;

   -- assist the Debtor in requesting the appointment of other
      professional persons, should such action be necessary;

   -- represent the Debtor at all necessary hearings, including
      but not limited to motions, trials, rejection and
      acceptance of executor contract hearings, disclosure
      statement and plan confirmation hearing; and

   -- prosecute adversary proceedings arising out of Legacy
      Bank's alleged assignment of Debtor's obligations.

The Debtor's Chapter 11 Petition was filed by Attorney Keith
Harvey.   Mr. Harvey has agreed to file a motion to withdraw or
consent to substitution of Frank L. Broyles as counsel for the
Debtor.  Mr. Harvey does not object to the Broyles Application.

Broyles will be paid at his established hourly rates and seek
payment of expenses in accordance with local bankruptcy rules for
the Northern District of Texas. Broyles' hourly billing rates are
set forth in his declaration. Payment for costs and expenses
requested by Broyles will be made in accordance with the retention
agreement and the rules of set by the court.

Broyles represents that neither he nor Frank L. Broyles, P.C. has
any interest adverse to the Debtor or the estate in matters in
which they are to be engaged for the Debtor.

Broyles can be reached at:

     Frank L. Broyles, Esq.
     222 W. Las Colinas Blvd.
     1650 East Tower
     Irving, TX 75039
     Telephone: (972)401-4141
     E-mail: frank.broyles@utexas.edu

                      About Antero Energy

Antero Energy Partners, LLC, filed a Chapter 11 petition (Bankr.
N.D. Tex. Case No. 16-30308) in Dallas on Jan. 25, 2016. Judge
Stacey G. Jernigan is assigned to the case.  The Debtor tapped
Keith William Harvey, Esq., at The Harvey Law Firm, P.C., as
counsel. The Debtor estimated $10 million to $50 million in assets
and debt.


ARCH COAL: Lenders Want Exit Plan Filed by April 26
---------------------------------------------------
Prior to filing for Chapter 11 bankruptcy, Arch Coal, Inc. and
certain of its debtor-affiliates entered into a Restructuring
Support Agreement, dated as of January 10, 2016 (as amended on
February 25, 2016).  On March 28, 2016, Arch entered into an
amendment, which provides for the waiver of the termination event
that would have occurred on April 10, 2016 as a result of the
Debtors not having obtained Court approval of the assumption of the
Restructuring Support Agreement within 90 days of the Petition
Date.

Following entry into the RSA Amendment, the Debtors are required to
obtain Court approval of the assumption of the Restructuring
Support Agreement prior to May 13, 2016 or such later date as may
be agreed to by the Majority Consenting Lenders under the
Restructuring Support Agreement.

The RSA Amendment also provides for the waiver of any termination
event arising out of the Debtors' failure to deliver the updated
business plan required under the Restructuring Support Agreement no
later than 60 days after the Petition Date, so long as the Debtors:


     (i) deliver an updated business plan no later than April 1,
2016 or such later date as may be agreed to by the Majority
Consenting Lenders, which business plan is reasonably acceptable to
the Majority Consenting Lenders (confirmed on or before April 8,
2016 or such later date as may be agreed to by the Majority
Consenting Lenders), and

    (ii) make publicly available certain disclosure materials no
later than April 15, 2016 or such later date as may be agreed to by
the Majority Consenting Lenders).

The RSA Amendment further waives any termination event arising out
of the Debtors' failure to file the Plan and Disclosure Statement
no later than 90 days after the Petition Date, so long as the
Debtors:

     (i) file the Plan and Disclosure Statement no later than April
26, 2016 or such later date as may be agreed to by the Majority
Consenting Lenders, and

    (ii) obtain Court approval of the Disclosure Statement no later
than June 10, 2016.

The RSA Amendment also provides for an extension of the date after
which the Debtors and the Majority Consenting Lenders may modify
the proposed distributions to holders of unsecured claims if
holders of more than $1.6125 billion of unsecured claims against
the Debtors have not executed a restructuring support agreement
substantially in the form of the Restructuring Support Agreement
from April 10, 2016 to April 22, 2016.

On January 21, 2016, the Superpriority Secured Debtor-in-Possession
Credit Agreement (as amended on March 4, 2016) was entered into by
and among the Company, as borrower, certain of the Debtors, as
guarantors, the lenders from time to time party thereto and
Wilmington Trust, National Association, as administrative agent and
collateral agent for the DIP Lenders.  Arch entered into an
amendment to the DIP Credit Agreement, dated as of March 28, 2016,
which extends:

     (i) the deadline for the filing of a plan of reorganization
and accompanying disclosure statement from 90 days after the
Petition Date to April 26, 2016, or the later date as agreed by the
DIP Lenders holding a majority of the term loans and unused
commitments under the DIP Facility or the DIP Agent with the
consent of the Required DIP Lenders, and

    (ii) the deadline for obtaining an order of the Court approving
a disclosure statement for the solicitation of such plan of
reorganization described in clause (i) above from 60 days after the
filing described in clause (i) above to June 10, 2016, or such
later date as agreed by the Required DIP Lenders or the DIP Agent
with the consent of the Required DIP Lenders.

                          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 debt
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.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee has retained Kramer Levin Naftalis &
Frankel LLP as counsel; Spencer Fane LLP as local counsel;
Berkeley
Research Group, LLC as financial advisor; Jefferies LLC as
investment banker; and Blackacre LLC as coal consultant.


ASHLAND INC: S&P Raises Rating on Subordinated Notes to 'BB'
------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating on
subordinated notes issued by Hercules Incorporated (a subsidiary of
Ashland Inc.) to 'BB' from 'B+', which is the same as S&P's
corporate credit rating on Ashland Inc.

At the same time, S&P revised its recovery rating on the Hercules
subordinated notes to '3' from '6'.  The '3' recovery rating
indicates S&P's expectation of meaningful (50%-70%; upper half of
the range) recovery in the event of a payment default.  All S&P's
other ratings on Ashland are unchanged.

The rating changes result from S&P's ongoing surveillance on
Ashland and reflect an improved understanding of Ashland's debt,
capital, and organizational structure.  Under S&P's revised
analysis, the Hercules debentures represent structurally senior
claims (relative to Ashland's credit facilities and senior notes)
against the portion of the recovery value S&P attributes to
Hercules, which improves their recovery prospects.  Although the
debentures are contractually subordinated, the contractual
subordination applies only to Hercules' debt obligations. According
to the company, Hercules only has a negligible amount of other debt
outstanding, and does not guarantee Ashland's credit facilities or
senior notes.  In addition, S&P understands that Ashland does not
guarantee the Hercules debentures and that the Hercules debentures
have recourse only to Hercules Inc.

RATINGS LIST

Ashland Inc.
Hercules Inc.
Corporate Credit Rating                BB/Negative/--    


Issue-Level Rating Raised; Recovery Rating Revised
                                        To               From
Hercules Inc.
Subordinated Debt Rating               BB                B+
  Recovery Rating                       3H                6


Issue-Level And Recovery Ratings Unchanged
Ashland Inc.
Senior Unsecured Debt Rating           BB                 
  Recovery Rating                       4L


ASPECT SOFTWARE: 341 Meeting of Creditors Set for April 14
----------------------------------------------------------
The meeting of creditors of Aspect Software Parent Inc. and its
affiliates is set to be held on April 14, 2016, at 10:00 a.m.,
according to a filing with the U.S. Bankruptcy Court in 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 Aspect Software

Headquartered in Phoenix, Arizona, with 38 offices located in 19
countries, Aspect Software serves as a global provider of software
systems and equipment for contact centers that service the needs of
customers across various industries.  Aspect delivers solutions to
more than 2,200 Contact Centers in more than 70 countries, and its
products currently support approximately 1.5 million contact center
agent seats, managing over 100 million enterprise customer
interactions daily.

Aspect Software Parent, Inc., Aspect Software, Inc., VoiceObjects
Holdings Inc., Voxeo Plaza Ten, LLC and Davox International
Holdings, LLC filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Proposed Lead Case No. 16-10597) on March 9, 2016.  Robert Krakauer
signed the petitions as executive vice president and chief
financial officer.

The Debtors have hired Kirkland & Ellis LLP as general bankruptcy
counsel, Klehr Harrison Harvey Branzburg LLP as co-bankruptcy
counsel, Alix Partners, LLP as financial advisor, Jefferies LLC as
investment banker and Prime Clerk LLC as claims, notice, and
balloting agent.

The Troubled Company Reporter on March 21, 2016, reported that the
Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Aspect Software Parent, Inc.


ASPECT SOFTWARE: Moody's Lowers CFR to Caa3, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service, in mid-March 2016, downgraded Aspect
Software's Corporate Family Rating to Caa3 and its Probability of
Default Rating to D-PD.  The downgrade was prompted by Aspect's
March 9, 2016 announcement that it had initiated Chapter 11
bankruptcy proceedings.  The outlook was changed to stable from
negative.

                         RATINGS RATIONALE

The Caa3 corporate family rating and instrument ratings reflect the
bankruptcy filing and the expected recovery rates on the 1st and
2nd lien debt.  Subsequent to today's actions, Moody's will
withdraw the ratings due to Aspect's bankruptcy filing.

These ratings were affected and will be withdrawn:

Downgrades:

Issuer: Aspect Software, Inc.

  Probability of Default Rating, Downgraded to D-PD from Caa2-PD

  Corporate Family Rating, Downgraded to Caa3 from Caa2

  1st Lien Senior Secured Bank Credit Facility, Downgraded to Caa1

   (LGD 2) from B3 (LGD 2)

  2nd Lien Notes due 2017, Downgraded to C (LGD 5) from Caa3
  (LGD 5)

Outlook Actions:

Issuer: Aspect Software, Inc.

  Outlook, Changed to Stable from Negative

The principal methodology used in these ratings was Software
Industry published in December 2015.

Aspect is a provider of contact center software solutions and
services.  The company, headquartered in Phoenix, AZ had revenue of
$410 million for the fiscal year ended Dec. 31, 2015.


ASSIST-MED INC: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Assist-Med, Inc.
        2000 S. Dairy Ashford Road, Suite 450
        Houston, TX 77077

Case No.: 16-31624

Chapter 11 Petition Date: April 3, 2016

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Karen K. Brown

Debtor's Counsel: Margaret Maxwell McClure, Esq.
                  LAW OFFICE OF MARGARET M. MCCLURE
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: 713-659-1333
                  Fax: 713-658-0334
                  E-mail: margaret@mmmcclurelaw.com

Total Assets: $23,284

Total Liabilities: $1.11 million

The petition was signed by Ruth Briggs, president and sole
shareholder.

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


ATK OILFIELD: Chapter 15 Case Summary
-------------------------------------
Chapter 15 Petitioner: Ernst & Young Inc.
                       1000, 400-2nd Avenue SW
                       Calgary, AB T2P 5E9
                       Canada

Chapter 15 Debtors:

    ATK Oilfield Transportation Inc.               16-70042
    800, 520 5th Avenue SW
    Calgary, Alberta T2P 3R7

    ATK Oilfield Transporation (USA) Inc.          16-70043

Type of Business: Oilfield transportation business

Chapter 15 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Western District of Texas (Midland)

Judge: Hon. Ronald B. King

Chapter 15 Petitioner's
Counsel:                  Steve A. Peirce, Esq.
                          NORTON ROSE FULBRIGHT US LLP
                          300 Convent, Suite 2100
                          San Antonio, TX 78205-0001
                          Tel: 210-270-7179
                          Fax: 210-270-7205
                          E-mail:
steve.peirce@nortonrosefulbright.com

                             - and -

                          Jason L. Boland, Esq.
                          Andrew Black, Esq.
                          NORTON ROSE FULBRIGHT US LLP
                          1301 McKinney, Suite 5100
                          Houston, TX 77010-3095
                          Tel: (713) 651-5151
                          Fax: (713) 651-5246
                          E-mail:
jason.boland@nortonrosefulbright.com
                                 
andrew.black@nortonrosefulbright.com

Estimated Assets: Not Indicated

Estimated Debts: Not Indicated


ATK OILFIELD: Seeks U.S. Recognition of Canadian Proceedings
------------------------------------------------------------
Ernst & Young, Inc., the court-appointed receiver and authorized
foreign representative of ATK Oilfield Transportation Inc. and ATK
Oilfield Transporation (USA) Inc., filed Chapter 15 petitions in
the U.S. Bankruptcy Court for the Western District of Texas (Bankr.
W.D. Tex. Case Nos. 16-70042 and 16-70043, respectively) on April
1, 2016, seeking recognition in the United States of proceedings
currently pending in Canada.

On April 1, 2016, the Court of Queen's Bench of Alberta in the
Judicial Centre of Calgary, Canada, entered a receivership order
against the Debtors under the Bankruptcy and Insolvency Act
pursuant to a request by Alberta Treasury Branches, the Debtors'
secured creditor holding a claim of C$29,983,250 as of March 10,
2016.  The BIA is one of two pieces of federal legislations in
Canada applicable to bankruptcies and insolvencies.

The Receivership Order provides for a stay against seizure of
assets and litigation akin to the automatic stay embodied in
Section 362(a) of the Bankruptcy Code.

Court documents show that the working capital financing for the
Debtors is provided by ATB located in Edmonton, Alberta, Canada
pursuant to an Amended and Restated Commitment Letter, dated Oct.
28, 2015.  The Loan Facility is comprised of demand facilities as
follows: (i) an operating loan facility up to a maximum of
C$8,000,000; and (ii) a non-revolving term facility in the amount
of C$28,732,663.  

Headquartered in Calgary, Alberta with operations throughout
Western Canada and the Permian Basin in the United States, the
Debtors' business consists of moving drilling rigs.  The Debtors'
assets, located in Canada and the United States, consist of various
equipment, rolling stock (trucks and trailers), contracts and
contract receivables, leased real property in Canada and Texas, as
well as owned real property located in Edson, Alberta and
Floresville, Texas.

Steve A. Peirce, Esq., at Norton Rose Fulbright US LLP, attorney to
Ernst & Young, said in papers filed with the Court that although
the Debtors earned a reputation as one of the best rig moving
companies in the business, the continued downturn in the petroleum
industry and the resulting precipitous reduction in exploration and
drilling activities in both Canada and the United States, resulted
in a substantial decline in Debtors' rig moving service contracts.
Moreover, he added, as the Debtors' customers are exposed to the
same financial stress from the depressed petroleum industry, the
Debtors' have hundreds of thousands of dollars of likely
uncollectable accounts receivable.

According to Mr. Peirce, the Debtors experienced a significant
decrease in revenue over the last year and forecasted negative cash
flow for 2016 of over C$9 million and negative EBITDA of
approximately C$6.9 million.

As disclosed in Court filings, almost all of the creditors of the
Debtors are located in Canada and the United States.  The
overwhelming majority of the amount of the liabilities of the
Debtors, are also to Canadian creditors.  Collectively, the Debtors
owe trade creditors, located in Canada and the United States over
C$2,488,000 and over US$2,776,000, respectively.

Contemporaneously with the filing of the Petition for Recognition,
the Receiver filed an ex parte application for temporary
restraining order staying execution against the Debtors' assets
until and through the Court's consideration of the Petition.  

"[E]mergency provisional relief is necessary to prevent creditors
and other parties from continuing litigation or taking action
against the Debtors U.S. assets that could prejudice and disrupt
the Canadian Proceedings, thereby interfering with the Receiver's
ability to conduct an orderly liquidation for the benefit of all
creditors and other stakeholders," Mr. Peirce maintained.

The Debtors are parties of a litigation that has been commenced and
is pending in the United States in the case Kemp W. Jones v. ATK
Oilfield Transportation (USA) Inc.; Cause No. CC18206; County Court
at Law No. 1, Midland County, Texas.

Norton Rose Fulbright US LLP serves as the Receiver's counsel.

Judge Ronald B. King is assigned to the cases.


BASIC ENERGY: Board OKs Performance-Based Phantom Stock Awards
--------------------------------------------------------------
The Board of Directors of Basic Energy Services, Inc., on
March 24, 2016, approved grants of performance-based phantom stock
awards to each of Basic's executive officers, including Basic's
named executive officers.

Pursuant to the award agreements, the performance-based awards
consist of phantom shares to be earned based upon Basic's total
shareholder return relative to the TSR of a peer group of energy
services companies measured over the Performance Period (defined as
the two-year calculation period starting on the 20th NYSE trading
day prior to and including the last NYSE trading day of 2015 and
ending on the last NYSE trading day of 2017), with Basic's ranking
in TSR performance being compared to the ranking in TSR performance
of the members of the PB Peer Group (as defined below).  The
companies in the PB Peer Group will be ranked from best performing
to worst performing with regard to each Company's respective TSR
performance, with the PB Peer Group company ranked 1st being the
company with the highest TSR when compared to the other PB Peer
Group companies and the PB Peer Group company ranked 13th being the
company with the lowest TSR when compared to the other PB Peer
Group companies, with rankings 2 through 12 being determined in
descending order based upon the corresponding descent in TSR
performance for companies in the PB Peer Group from 2nd highest to
12th highest.

For the 2016 performance year, the TSR Phantom Shares awarded
pursuant to the award agreements comprise approximately one half of
the total long-term incentive compensation for each of Basic's
executive officers, including Basic's named executive officers. The
remaining approximate one half of the total long-term incentive
compensation has been awarded at the discretion of Basic's Board of
Directors based on the recommendation of management, as described
below under the caption "2016 Long-Term Incentive Awards."

Additional information is available for free at:

                    http://is.gd/fFDngJ

                     About Basic Energy

Energy Services, Inc. provides a wide range of well site services
in the United States to oil and natural gas drilling and producing
companies, including completion and remedial services, fluid
services, well servicing and contract drilling.  These services are
fundamental to establishing and maintaining the flow of oil and
natural gas throughout the productive life of a well.  The
Company's broad range of services enables us to meet multiple needs
of our customers at the well site.

Basic Energy reported a net loss of $241.74 million in 2015
compared to a net loss of $8.34 million in 2014.  As of Dec. 31,
2015, Basic Energy had $1.16 billion in total assets, $1.05 billion
in total liabilities and $106.33 million in total stockholders'
equity.

"If we are unable to generate sufficient cash flow or are otherwise
unable to obtain the funds required to make principal and interest
payments on our indebtedness, or if we otherwise fail to comply
with the various covenants in instruments governing any existing or
future indebtedness, we could be in default under the terms of such
instruments.  In the event of a default, the holders of our
indebtedness could elect to declare all the funds borrowed under
those instruments to be due and payable together with accrued and
unpaid interest, secured lenders could foreclose on any of our
assets securing their loans and we or one or more of our
subsidiaries could be forced into bankruptcy or liquidation. If our
indebtedness is accelerated, or we enter into bankruptcy, we may be
unable to pay all of our indebtedness in full.  Any of the
foregoing consequences could restrict our ability to grow our
business and cause the value of our common stock to decline," the
Company warned in its annual report for the year ended Dec. 31,
2015.

                          *    *    *

As reported by the TCR on March 30, 2016, Standard & Poor's Ratings
Services lowered its corporate credit rating on Fort Worth-based
Basic Energy Services Inc. to 'CCC+' from 'B-'.  The outlook is
negative.

The TCR reported n March 14, 2016, that Moody's Investors Service
downgraded Basic Energy Services, Inc.'s Corporate Family Rating
(CFR) to Caa3 from Caa1, its senior unsecured notes rating to Ca
from Caa2, and lowered its Speculative Grade Liquidity Rating to
SGL-4 from SGL-3.  The outlook remains negative.


BAYTEX CREDIT: Case Summary & 3 Unsecured Creditors
---------------------------------------------------
Debtor: Baytex Credit Corp.
        4899 Montrose Blvd., Suite 805
        Houston, TX 77006

Case No.: 16-31578

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Marvin Isgur

Debtor's Counsel: Jarrod B. Martin, Esq.
                  NATHAN SOMMERS JACOBS, PC
                  2800 Post Oak Blvd, 61st Floor
                  Houston, TX 77056
                  Tel: 713-892-4842
                  Fax: 713-892-4800
                  E-mail: jmartin@nathansommers.com

Total Assets: $250,100

Total Liabilities: $1.25 million

The petition was signed by William Walker, chairman and director.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/txsb16-31578.pdf


BG MEDICINE: To Voluntarily Deregister Common Stock
---------------------------------------------------
BG Medicine, Inc. disclosed in a Form 8-K report filed with the
Securities and Exchange Commission that given the significant cost
and resource demands of being a public company, on March 25, 2016,
the Board of Directors of the Company decided to voluntarily
deregister the Company's common stock under the Securities Exchange
Act of 1934, as amended, and become a non-reporting company.  

In connection therewith, the Board of Directors approved the filing
with the Securities and Exchange Commission of a Form 15 to
voluntarily deregister its securities under Section 12(g) of the
Exchange Act and suspend its reporting obligations under Section
15(d) of the Exchange Act.  The Company expects to file the Form 15
in April 2016.  The Company expects that its obligations to file
periodic reports, such as Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K, will be
suspended immediately upon the filing of the Form 15 with the SEC,
and its proxy statement, Section 16 and other Section 12(g)
reporting responsibilities will terminate effective 90 days after
the filing of the Form 15.  The Company is eligible to deregister
its common stock under the Exchange Act because its common stock is
held by fewer than 300 stockholders of record.

As part of the deregistration process, and in furtherance of the
Company's goal of reducing its expenses, on March 29, 2016, the
Company filed a post-effective amendment to its registration
statement on Form S-3 (Registration No. 333-204307) to deregister
the remaining securities registered on such registration statement.
The Company was awaiting the SEC's effectiveness order with
respect to such post-effective amendment prior to filing the Form
10-K.  On March 31, 2016, the SEC notified the Company that the
post-effective amendment would be declared effective on
March 31, 2016.  The Company plans to file its Form 10-K on or
before April 14, 2016, the fifteenth calendar day following the
Form 10-K due date and prior to filing the Form 15.

                        About BG Medicine

Waltham, Mass.-based BG Medicine is a diagnostics company focused
on the development and commercialization of novel cardiovascular
diagnostic tests to address significant unmet medical needs,
improve patient outcomes and contain healthcare costs.  The
Company is currently commercializing two diagnostic tests, the
first of which is the BGM Galectin-3 test, a novel assay for
measuring galectin-3 levels in blood plasma or serum for use as an
aid in assessing the prognosis of patients diagnosed with heart
failure.  The Company's second diagnostic test is the CardioSCORE
test, which is designed to identify individuals at high risk for
near-term, significant cardiovascular events, such as heart attack
and stroke.

BG Medicine reported a net loss of $8.06 million in 2014, a
net loss of $15.8 million in 2013 and a net loss of $23.8 million
in 2012.

As of Sept. 30, 2015, the Company had $3.35 million in total
assets, $2.03 million in total liabilities, $2.59 million in
convertible preferred stock, and a total stockholders' deficit of
$1.27 million.

Deloitte & Touche LLP, in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company's recurring
losses from operations, recurring cash used in operating activities
and accumulated deficit raise substantial doubt about its ability
to continue as a going concern.


BH SUTTON: Lender Asks Court to Dismiss Ch. 11 Case
---------------------------------------------------
Lender Sutton 58 Associates LLC asks the U.S. Bankruptcy Court to
dismiss BH Sutton Mezz LLC's Chapter 11 case, or, in the
alternative, modify the automatic stay to permit the Lender to
pursue its state law remedies against the Debtor in this two-party,
one asset dispute.

According to the Lender, the Debtor has pursued this Chapter 11 as
a litigation tactic to thwart the Lender and escape the effects of
its non­bankruptcy litigation -- a foreclosure suit filed by the
Lender before the State Court foreclosing on the Debtor's
Membership Interest on the Property located at 428­432 East 58th
Street in New York City in relation to the Debtor's unpaid loan of
$20 million. For instead of appealing or seeking stay in the
Appellate Division when the Debtor's injunctive petition has been
denied before the State Court, the Debtor filed this Chapter 11
Bankruptcy case to stop the Lender from foreclosing on its
Membership Interest, the Lender alleges further.

The Lender also tells the Court that there is nothing to reorganize
in the instant case considering that the Debtor has no operations
or employees and no assets other than the Membership Interest ­
just a dispute over the Lender's right to foreclose on the Debtor's
sole asset and thus the real purposes for the Debtor's bankruptcy
filing are improper ones: forum shopping and opportunistic
exploitation of the automatic stay.

Alternatively, the Lender asks that the Court should modify the
automatic stay to permit the Lender to pursue its state law
remedies. The Lender asserts that the Debtor has no cash flow, no
operations and no other assets to offer the Lender to adequately
protect the Lender from the diminishing effect on the value of the
Lender's collateral with the Debtor's continued use of such
collateral without the Lender’s consent thereto.

The Lender's Motion to Dismiss is scheduled to be heard on April 7,
2016.

Sutton 58 Associates LLC is represented by:

     Adam C. Rogoff, Esq.
     P. Bradley O’Neill, Esq.
     Natan Hamerman, Esq.  
     KRAMER LEVIN NAFTALIS & FRANKEL LLP
     1177 Avenue of the Americas
     New York, New York  10036
     Telephone: 212-715-9100
     Facsimile: 212-715-8000
     Email: arogoff@kramerlevin.com
            boneill@kramerlevin.com
            nhamerman@kramerlevin.com

           About BH Sutton

New York City-based BH Sutton Mezz LLC filed for Chapter 11
protection (Bankr. S.D. NY Case No. 16-10455) on Feb. 26, 2016.
The petition was signed by Herman Carlinsky, president.  The Hon.
Sean H. Lane presides over the case.  Joseph S. Maniscalco, Esq.,
at Lamonica Herbst & Maniscalco, LLP represents the Debtor in its
restructuring effort.  The Debtor estimated assets at $100 million
to $500 million and debts at $10 million to $50 million.


BREF HR: Incurs $120 Million Net Loss in 2015
---------------------------------------------
BREF HR, LLC, filed with the Securities and Exchange Commission its
annual report on Form 10-K disclosing a net loss of $120 million on
$194 million of net revenues for the year ended
Dec. 31, 2015, compared to a net loss of $103 million on $200
million of net revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $570 million in total assets,
$992 million in total liabilities and a total members' deficit of
$423 million.

Deloitte & Touche LLP, Las Vegas, Nevada, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that recurring losses from operations
and the contractual debt repayments due April 4, 2016 raise
substantial doubt about its ability to continue as a going concern.


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

                       http://is.gd/eIDJG4

                          About BREF HR

BREF HR, LLC owns and operates the Hard Rock Hotel & Casino Las
Vegas.  The company maintains its headquarters in New York.
BREF is a Delaware limited liability company that was formed on
February 11, 2011.  The Company does not maintain a corporate
website.  The affairs of the Company are governed by a Limited
Liability Company Agreement dated as of March 1, 2011.


BROCK HOLDINGS: Moody's Lowers CFR to Caa1, Outlook Negative
------------------------------------------------------------
Moody's Investors Service downgraded Brock Holdings III, Inc.'s
corporate family rating to Caa1 from B3.  The downgrade reflects
the deterioration in Brock's operating results and credit metrics,
the company's strained liquidity profile with increased refinancing
risk with maturities due during the next 12 to 18 months, and the
expectation that the company's credit profile will remain weak over
our time horizon.  The rating outlook remains negative.

This is a summary of Moody's ratings and rating actions taken for
Brock Holdings III, Inc.'s:

   -- Corporate Family Rating, downgraded to Caa1 from B3;

   -- Probability of Default Rating, downgraded to Caa1-PD from
      B3-PD;

   -- $510 million first lien term loan, downgraded to B3 (LGD3)
      from B2 (LGD3);

   -- $190 million second lien term loan, downgraded to Caa3
      (LGD5) from Caa2 (LGD5);

   -- Outlook remains Negative

                        RATINGS RATIONALE

Brock's key credit metrics have deteriorated over the last twelve
months.  The Caa1 corporate family rating reflects Moody's
expectations for continued high debt leverage (measured as Moody's
adjusted Debt to EBITDA) above 6.5x as well as Brock's relatively
weak interest coverage (measured as EBITA/Interest) below 1.5x. The
rating also takes into account Brock's minimal free cash flow
generation capacity.  Brock's Caa1 CFR is consistent with the
company's deterioration in operating performance and key credit
metrics under a challenging operating environment.  The rating also
reflects the expectation that Brock's end markets -mainly energy
related- will continue to underperform during our time horizon
driven mainly by historically low oil prices.  The rating is
further constrained by Brock's limited liquidity with maturities
due in the near term.

The negative outlook reflects our concerns about Brock's ability to
improve operating performance enough to offset its top-line sales
drop and successfully boost its key credit metrics in the next 12
to 18 months.  The negative outlook also considers the risk of
Brock being unable to meet its interest coverage covenants during
our time horizon.

WHAT COULD CHANGE RATINGS UP/DOWN

Upgrade is unlikely in the near term. However, the outlook could be
stabilized if the company improves its liquidity profile and credit
ratios, including:

   -- Adjusted Debt to EBITDA is maintained at or below 6.5x.
   -- EBITA/interest expense sustained above 1.5x.
   -- Improvement in the company's liquidity profile along with
      increased covenant cushion.

Alternatively, further downgrade may occur if Brock's operating
performance deteriorates further, or its liquidity weakness goes
unaddressed.  Downgrade triggers include:

   -- Adjusted Debt to EBITDA nears 10.0x.
   -- EBITA/interest expense below 0.5x.
   -- Negative free cash flows.
   -- Inability to successfully refinance its existing capital
      structure within the next 6 to 9 months.

                         CORPORATE PROFILE

Headquartered in Houston, TX, Brock Holdings III, Inc. is a North
American provider of scaffolding, insulation, coatings and other
services for the refining, chemical and power industries.  Lindsay
Goldberg is Brock's primary owner.  Revenues for the twelve months
ended Sept. 30, 2015, totaled $1,411 million and the company
recorded an adjusted net loss of $52 million.  All Moody's
calculations include Moody's standard adjustments.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.


BROOKLYN EVENTS: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Brooklyn Events LLC
           dba Verboten
        54-60 North 11th Street
        Brooklyn, NY 11249

Case No.: 16-41371

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Carla E. Craig

Debtor's Counsel: Scott Markowitz, Esq.
                  TARTER KRINSKY & DROGIN LLP
                  1350 Broadway, 11th Floor
                  New York, NY 10018          
                  Tel: (212) 216-8000
                  Fax: 212-216-8001
                  E-mail: smarkowitz@tarterkrinsky.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jen Schiffer, managing member.

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


BROOKLYN RENAISSANCE: Lists $27MM in Assets, $17.5MM in Debts
-------------------------------------------------------------
Brooklyn Renaissance, LLC, filed with the U.S. Bankruptcy Court for
the Eastern District of New York amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $26,900,000
  B. Personal Property               $85,000
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $17,280,662
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $175,000
                                 -----------      -----------
        Total                    $26,985,000      $17,455,662

A copy of the schedules is available for free at:

http://bankrupt.com/misc/BrooklynRenaissance_65_Dec11ASAL.pdf

                    About Brooklyn Renaissance

Brooklyn Renaissance, LLC, which manages various parcels of real
property located in Kings, New York and Suffolk County, New York,
sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No.
15-43122) on July 6, 2015 in Brooklyn. James McGown, the managing
member, signed the petition. The case is assigned to Judge Nancy
Hershey Lord.

The Debtor tapped Jonathan S. Pasternak, Esq., at DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, in White Plains, New
York, as counsel.


BUFFINGTON MASON: Case Summary & 5 Unsecured Creditors
------------------------------------------------------
Debtor: Buffington Mason Park, LTD
        8601 Ranch Road 2222
        Building I, Suite 150
        Austin, TX 78730

Case No.: 16-10396

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Hon. Tony M. Davis

Debtor's Counsel: Stephen W. Sather, Esq.
                  BARRON & NEWBURGER, P.C.
                  1212 Guadalupe, Suite 104
                  Austin, TX 78701
                  Tel: (512) 476-9103 Ext. 220
                  Fax: (512) 476-9253
                  E-mail: ssather@bn-lawyers.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $100 million to $500 million

The petition was signed by T. Blake Buffington, Jr., VP of general
partner.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/txwb16-10396.pdf


CAPITOL LAKES: Creditors' Panel Taps Grant Thornton as Consultant
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Capitol Lakes,
Inc., seeks authority from the U.S. Bankruptcy Court for the
Western District of Wisconsin to retain Grant Thornton, LLP as
financial consultant to the Committee, nunc pro tunc to January 20,
2016.

Capitol Lakes requires Grant Thornton to:

   (i)     assist and advise the Committee in the analysis of the
           current financial position of the Debtor;

   (ii)    assist and advise the Committee in its analysis of the
           Debtor's business plans, cash flow projections,
           restructuring, restructuring programs and other
           reports or analyses prepared by the Debtor or their
           professionals, in order to assist the Committee in its
           assessment of the business viability of the Debtor,
           the reasonableness of projections and underlying
           assumptions, the impact of market conditions on
           forecasted results of the Debtor; and the viability of
           the restructuring strategy pursued by the Debtor or
           other parties in interest;

   (iii)   assist and advise the Committee regarding the
           reasonableness of the valuation reports and underlying
           projections prepared by the Debtor and the Debtor's
           secured lenders;

   (iv)    analyze the Debtor's historical financial performance
           against industry benchmarks to identify additional
           opportunities for performance improvement;

   (v)     assist and advise the Committee in its analysis of
           proposed transactions or other actions for which the
           Debtor or other parties in interest seek Court
           approval including, but not limited to, evaluation of
           competing bids in connection with the divestiture of
           corporate assets, DIP financing or use of cash
           collateral, assumption/rejection of leases and
           executor contracts (e.g., the PRS management
           agreement), extensions of exclusivity, objections to
           claims or liens, and other executor contracts,
           management compensation and/or retention and severance
           plans;

   (vi)    assist and advise the Committee in its analysis of the
           Debtor's internally prepared financial statements and
           related documentation, in order to evaluate
           performance of the Debtor as compared to its projected
           results;

   (vii)   review the Centers for Medicare and Medicaid Services
           report that supports the Debtor's recent 2-star rating
           for the skilled nursing facility to identify the key
           drivers of the rating;

   (viii)  attend and advise at meetings/calls with the Committee
           and its counsel and representatives of the Debtor and
           other parties;

   (ix)    assist and advise the Committee and its counsel in the
           development, evaluation and documentation of the
           optimal strategic positions to pursue in the Case
           including but not limited to any plans of
           reorganization or strategic transactions, including
           developing, structuring and negotiating the terms and
           conditions of potential plans or strategic
           transactions including the value of consideration that
           is to be provided thereunder; and

   (x)     assist and advise the Committee in such other services
           as may be necessary and advisable to support the
           foregoing Services, including but not limited to,
           other bankruptcy, reorganization and related
           litigation support efforts, valuation assistance,
           corporate finance/M&A advice, compensation and
           benefits consulting, or other specialized services as
           may be requested by the Committee and agreed to by
           Grant in writing.

Grant Thornton's hourly rates are:

     Professional                            Rate Per Hour
     ------------                            -------------
     Paul Melville           Principal            $695
     Melissa Dimitri         Director             $525
     Ethan Sooy              Manager              $410
     Jonathan Marshburn      Associate            $250

Grant Thornton and the Committee have agreed that the firm will
bill the Committee at a $375 blended hourly rate.

Grant Thornton will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Paul Melville, principal of Grant Thornton LLP, 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.

Grant can be reached at:

     Paul Melville
     GRANT THORNTON LLP
     171 N. Clark Street, Suite 200
     Chicago, IL 60604
     Tel: (312) 602-8360
     E-mail: paul.melville@us.gt.com

                       About Capitol Lakes

Capitol Lakes Inc. owns and operates a continuing care retirement
community ("CCRC") located in Madison, Wisconsin. The CCRC is
comprised of: (i) an urban high rise containing 105 independent
living units (the "Heights"), (ii) an apartment building containing
52 additional independent living units (the "Main Gate"), (iii) an
assisted living residential facility containing 43 assisted living
units (the "Terraces"), of which 39 are single occupancy and 4 are
available for double occupancy, (iv) a skilled nursing facility
with 85 active skilled nursing beds licensed by the Wisconsin
Department of Health and Family Services and certified to
participate in the Medicare and Medicaid programs (the "Health
Center"), all located on a site of approximately 3.814 acres of
land owned by Capitol Lakes located in the heart of downtown
Madison, Wisconsin.

On Jan. 20, 2016, Capitol Lakes filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Wisc. Case No. 16-10158). The case is
assigned to Judge Robert D. Martin.

As of Dec. 31, 2015, on a book value basis, Capitol Lakes has $57.6
million in assets and $104.2 million in liabilities.

The Debtor has tapped DLA Piper LLP as its legal counsel, and Cain
Brothers & Company LLC as its financial advisor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors. They are Margaret
Barker, John Burkhalter, Geri Dickson, Sally Drew, Patrick J.
Holzem, Judith Snyderman and M. Crawford Young. Murphy Desmond S.C.
represents the committee.


CAPITOL LAKES: Hires DLA Piper as Bankruptcy Counsel
----------------------------------------------------
Capitol Lakes, Inc., seeks authority from the U.S. Bankruptcy Court
for the Western District of Wisconsin to employ DLA Piper LLP (US)
as bankruptcy counsel to the debtor, nunc pro tunc to January 20,
2016.

Capitol Lakes requires DLA Piper to:

   (A) advise the Debtor with respect to its rights, powers and
       duties as a debtor and debtor in possession in the
       continued management and operation of its business and
       assets;

   (B) attend meetings and negotiate with representatives of
       creditors and other parties in interest and advise and
       consult on the conduct of the case, including all of the
       legal and administrative requirements of operating chapter
       11;

   (C) take all necessary action to protect and preserve the
       Debtor's estate, including prosecution of actions on the
       Debtor's behalf, the defense of any actions commenced
       against the estate, negotiations concerning litigation in
       which the Debtor may be involved and objections to claims
       filed against the estate;

   (D) prepare, on behalf of the Debtor, all necessary and
       appropriate motions applications, answers, orders,
       reports, and papers necessary to the administration of the
       estate;

   (E) prepare and negotiate, on behalf of the Debtor, plans of
       reorganization, disclosure statements, and all related
       agreements and/or documents and taking any necessary
       action on behalf of the Debtor to obtain confirmation of
       such plans;

   (F) advise the Debtor in connection with its restructuring;

   (G) perform other necessary legal services and provide other
       necessary legal advice to the Debtor in connection with
       this case; and

   (H) appear before the Bankruptcy Court, any appellate courts,
       and the U.S. Trustee, and protecting the interests of the
       Debtor's estate before such courts and the U.S. Trustee.

Capitol Lakes will pay DLA Piper at these hourly rates:

     Professional               Title            Rate Per Hour
     ------------               -----            -------------
     Thomas R. Califano         Partner             $985
     Michael Hynes              Partner             $980
     Spencer Stiefel            Associate           $785
     Dan Simon                  Associate           $710
     Rachel Nanes               Associate           $555
     Mordechai Sutton           Associate           $460
     Yohami Lam Guerra          Paralegal           $320

DLA Piper will also be reimbursed for reasonable out-of-pocket
expenses incurred.

The firm also provided the following information:

   -- DLA Piper represented the Debtor during the 12-month period
      prior to the Petition Date. During that time period, DLA
      Piper charged its standard rates. The billing rates and
      financial terms have not changed.

   -- DLA Piper is also subject to the budgeted amounts set forth
      in the Final Order: (1) Authorizing Capitol Lakes, Inc. to
      Use Cash Collateral; and (2) Granting Adequate Protection
      to Lenders.

Thomas R. Califano, partner of DLA Piper LLP (US), 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.

DLA Piper can be reached at:

     Thomas R. Califano, Esq.
     DLA PIPER LLP (US)
     1251 Avenue of the Americas
     New York, NY 10020-1104
     Tel: (212) 335-4500
     Fax: (212) 335-4501
     E-mail: thomas.califano@dlapiper.com

                         About Capitol Lakes

Capitol Lakes Inc. owns and operates a continuing care retirement
community ("CCRC") located in Madison, Wisconsin. The CCRC is
comprised of: (i) an urban high rise containing 105 independent
living units (the "Heights"), (ii) an apartment building containing
52 additional independent living units (the "Main Gate"), (iii) an
assisted living residential facility containing 43 assisted living
units (the "Terraces"), of which 39 are single occupancy and 4 are
available for double occupancy, (iv) a skilled nursing facility
with 85 active skilled nursing beds licensed by the Wisconsin
Department of Health and Family Services and certified to
participate in the Medicare and Medicaid programs (the "Health
Center"), all located on a site of approximately 3.814 acres of
land owned by Capitol Lakes located in the heart of downtown
Madison, Wisconsin.

On Jan. 20, 2016, Capitol Lakes filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Wisc. Case No. 16-10158). The case is
assigned to Judge Robert D. Martin.

As of Dec. 31, 2015, on a book value basis, Capitol Lakes has $57.6
million in assets and $104.2 million in liabilities.

The Debtor has tapped DLA Piper LLP as its legal counsel, and Cain
Brothers & Company LLC as its financial advisor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors. They are Margaret
Barker, John Burkhalter, Geri Dickson, Sally Drew, Patrick J.
Holzem, Judith Snyderman and M. Crawford Young. Murphy Desmond S.C.
represents the committee.


CATASYS INC: Reports $7.22 Million Net Loss for 2015
----------------------------------------------------
Catasys, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $7.22
million on $2.70 million of revenues for the year ended Dec. 31,
2015, compared to a net loss of $27.3 million on $2.03 million of
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Catasys had $2.88 million in total assets,
$11.6 million in total liabilities, and a total stockholders'
deficit of $8.72 million.

Rose, Snyder & Jacobs LLP, in Encino, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has continued
to incur significant operating losses and negative cash flows from
operations during the year ended Dec. 31, 2015, and continues to
have negative working capital at Dec. 31, 2015.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern.

                      Bankruptcy Warning

"Our financial statements have been prepared on the basis that we
will continue as a going concern.  At December 31, 2015, cash and
cash equivalents was $916,000 and we had a working capital deficit
of approximately $2.7 million.  We have incurred significant
operating losses and negative cash flows from operations since our
inception.  During the twelve months December 31, 2015, our cash
used in operating activities from continuing operations was $5.2
million.  We anticipate that we could continue to incur negative
cash flows and net losses for the next twelve months.  The
financial statements do not include any adjustments relating to the
recoverability of the carrying amount of the recorded assets or the
amount of liabilities that might result from the outcome of this
uncertainty.  As of December 31, 2015, these conditions raised
substantial doubt as to our ability to continue as a going concern.
We expect our current cash resources to cover expenses into April
2016; however delays in cash collections, revenue, or unforeseen
expenditures could negatively impact our estimate. We are in need
of additional capital, however, there is no assurance that
additional capital can be timely raised in an amount which is
sufficient for us or on terms favorable to us and our stockholders,
if at all.  If we do not obtain additional capital, there is a
significant doubt as to whether we can continue to operate as a
going concern and we will need to curtail or cease operations or
seek bankruptcy relief.  If we discontinue operations, we may not
have sufficient funds to pay any amounts to stockholders."

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

                    http://is.gd/5uHiTT

                      About Catasys Inc.

Based in Los Angeles, California, Hythiam, Inc., n/k/a Catasys,
Inc., is a healthcare services management company, providing
through its Catasys(R) subsidiary specialized behavioral health
management services for substance abuse to health plans.


CEETOP INC: Needs More Time to File 2015 Form 10-K
--------------------------------------------------
Ceetop Inc. notified the Securities and Exchange Commission it
cannot file its Dec. 31, 2015, Form 10-K within the prescribed time
period because management has not completed the process of
gathering and analyzing the financial information that will be
included in the Company's Form 10-K.

                       About Ceetop Inc.

Oregon-based Ceetop Inc., formerly known as China Ceetop.com,
Inc., owned and operated the online retail platform before 2013.
Due to excessive competition in online retail, the Company has
transformed itself into an integrated supply chain services
provider, and focuses on B to B supply chain management and
related value-added services among enterprises.

Ceetop Inc. reported a net loss of $841,000 on $362,000 of sales
for the year ended Dec. 31, 2014, compared with a net loss of $2.88
million on $0 of sales for the year ended Dec. 31, 2013.

As of March 31, 2015, the Company had $3.52 million in total
assets, $956,000 in total liabilities, all current, and $2.56
million in total stockholders' equity.

MJF & Associates, APC, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company incurred
recurring losses from operations, has a net loss of $841,000 for
2014, and has accumulated deficit of $9.45 million at Dec. 31,
2014.  These matters raise substantial doubt about the
Company's ability to continue as a going concern.


CHAPARRAL ENERGY: Reports $1.33 Billion Net Loss for 2015
---------------------------------------------------------
Chaparral Energy, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$1.33 billion on $324.31 million of total revenues for the year
ended Dec. 31, 2015, compared to net income of $209 million on $682
million of total revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Chaparral Energy had $1.20 billion in total
assets, $1.82 billion in total liabilities and a total
stockholders' deficit of $620 million.

The Company's cash balance as of Feb. 29 and March 30, 2016, was
approximately $202.9 million and $176.0 million, respectively.

"Oil and natural gas prices have declined severely since mid 2014
and continue to be depressed in 2016.  These lower commodity prices
have negatively impacted revenues, earnings and cash flows, and
sustained low oil and natural gas prices are having a material and
adverse effect on our liquidity position.  As of December 31, 2015,
the total outstanding principal amount of our debt obligations was
$1,607,127," the Company said in the report.  

The Company's auditors Grant Thornton LLP, in Oklahoma City,
Oklahoma, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2015,
citing that the Company incurred a net loss of approximately $1,334
million during the year ended Dec. 31, 2015, and as of that date,
the Company's current liabilities exceeded its current assets by
approximately $1,522 million and its total liabilities exceeded its
total assets by approximately $620 million.  Also, subsequent to
Dec. 31, 2015, the Company is in default on its debt obligations.
These conditions, along with other matters, raise substantial doubt
about the Company's ability to continue as a going concern.

"We may not be unable to enter into hedging transactions under our
derivative contracts.

"Each time we enter into a hedging transaction with a hedge
counterparty, we must make a representation under the relevant
derivative contract that there is no event of default or potential
event of default occurring under that derivative contract.  Any
event of default or potential event of default under the debt
facilities would trigger an event of default under our derivative
contracts.  As a result, we may not be able to enter into hedging
transactions when we have outstanding events of default under our
debt facilities.

"As part of our restructuring efforts, we may seek bankruptcy court
protection under Chapter 11 of the U.S. Bankruptcy Code, which
could adversely impact our operations.

"We are in the process of analyzing various strategic alternatives
to address our liquidity and capital structure, including strategic
and refinancing alternatives through a private restructuring,
assets sales and a filing under Chapter 11 of the U.S. Bankruptcy
Code," the Company added.

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

                       http://is.gd/D1t5zh

                         About Chaparral

Founded in 1988, Chaparral Energy, Inc. is a Delaware corporation
headquartered in Oklahoma City and a pure play Mid-Continent
independent oil and natural gas exploration and production company.
The Company has capitalized on its sustained success in the
Mid-Continent area in recent years by expanding its holdings to
become a leading player in the liquids rich STACK play, which is
home to multiple oil-rich reservoirs including the Oswego, Meramec,
Osage, Woodford and Hunton formations.  In addition, the Company
has significant holdings in the Mississippi Lime play and a
leadership position in CO2 EOR where the Company is now the third
largest CO2 EOR operator in the United States based on the number
of active projects.  This EOR position is underscored by the
Company's activity in the North Burbank Unit in Osage County,
Oklahoma, which is the single largest oil recovery unit in the
state.


CHARTER COMMUNICATIONS: Fitch Maintains BB- IDR on Watch Positive
-----------------------------------------------------------------
Fitch Ratings has maintained the 'BB-' Issuer Default Ratings (IDR)
assigned to CCO Holdings, LLC (CCOH) and Charter Communications
Operating, LLC (CCO) on Rating Watch Positive. Fitch has also
affirmed the specific issue ratings assigned to CCO Safari II, LLC
(CCO Safari II) and CCO Safari III, LLC (CCO Safari III). A
complete list of rating actions follows at the end of this release.
Approximately $35.9 billion of debt (principal value) outstanding
as of Dec. 31, 2015 is affected by Fitch's action. CCOH and CCO are
indirect wholly owned subsidiaries of Charter Communications, Inc.
(Charter).

This release and maintenance of the Rating Watch are in accordance
with Fitch's guidelines related to the review of Rating Watch
status following Fitch's placement of the companies' ratings on
Rating Watch Positive on April 2, 2015. Fitch placed CCOH and CCO's
'BB-' IDRs on Rating Watch Positive following the announcement of
the acquisition of Bright House Networks (Bright House) from
Advance/Newhouse Partnership (A/N). The Bright House acquisition is
valued at $11.1 billion as of Feb. 4, 2016.

Resolution of the Rating Watch will be based largely on Fitch's
review of Charter's capital structure if the transactions are
completed. Further inputs will include the assignment of potential
equity credit to the convertible preferred partnership units and a
further assessment of the risks associated with Charter's ability
to integrate cable systems acquired from TWC and Bright House.
Depending on the ultimate capital structure, a one- or two-notch
upgrade could be possible.

On May 23, 2015, Charter announced a merger with Time Warner Cable,
Inc. (TWC) for total consideration of $203.28 per share as of Feb.
4, 2016, providing a total valuation for TWC of $80.1 billion. The
offer consists of a combination of cash and Charter stock totaling
$58.4 billion for all outstanding TWC shares. TWC shareholders have
two options for the split between cash and Charter common stock: 1)
$100.00 cash and 0.5409 shares of Charter common stock for each
share of TWC common stock or 2) $115.00 cash and 0.4562 shares of
Charter common stock for each share of TWC common stock. If
shareholders choose the latter option, Charter has the financial
flexibility, which may include a portion of the net proceeds from
its February 2016 issuance of $1.7 billion of senior notes due
2024, to fund the increased cash needs. If Charter requires
additional liquidity to satisfy cash funding needs for TWC
shareholders, CCOH has committed financing in place for $5 billion
of unsecured debt.

KEY RATING DRIVERS

M&A Activity Credit-Positive: Fitch views the TWC and Bright House
transactions positively and believes they will strengthen Charter's
overall credit profile. Fitch anticipates that Charter's total
leverage, pro forma for both the TWC merger as it is currently
structured and the Bright House acquisition, would be under 5x at
closing. The Federal Communications Commission and the U.S.
Department of Justice are expected to issue conditionally positive
rulings within the next few weeks, while Charter has received
approval from each state it will operate in, except California,
which is expected to issue a ruling in May 2016.

Integration Key to Success: Integration risks are elevated with two
simultaneous transactions, and Charter's ability to manage the
integration process and limit disruption to the company's overall
operations is key to the success of the transactions.

Credit Profile Changes: Charter's pro forma Fitch-calculated total
leverage will exceed its target of 4x and 4.5x at closing, but is
expected to fall below 4.5x within 12 months. In addition, the
company stated it expects its first lien leverage to be below 3.5x
following the completion of the TWC and Bright House transactions.
On a pro forma operating basis, the combined company will serve 24
million customers and become the second largest cable multiple
system operator in the country

Improving Operating Momentum: Charter's operating strategies are
having a positive impact on the company's operating profile,
resulting in a strengthened competitive position. The
market-share-driven strategy, focused on enhancing Charter's video
service competitiveness and leveraging its all-digital
infrastructure, is improving subscriber metrics, growing revenue
and average revenue per unit (ARPU) trends, and stabilizing
operating margins.

Digital Initiatives Enable FCF Growth: Charter has completed its
all-digital-service transition, which, along with the introduction
of its interactive IP-based video user interface, positions the
company to offer a more competitive service. Fitch anticipates
these initiatives will alleviate residential video subscriber
losses and increase service penetration while boosting ARPUs, and
translate into accelerating revenue growth, margin expansion and
growing free cash flow (FCF) generation.

Strong FCF Provides Financial Flexibility: All three entities
(Charter, TWC and Bright House) produce strong FCF that provide the
companies, separately and in aggregate, substantial financial
flexibility. Once the transactions are completed, Charter stated it
will use FCF in the short term to meet existing and planned
amortization, which along with EBITDA improvement is expected to
lower leverage by 0.6x annually. They also stated there are no
short-term plans for shareholder-friendly activities.

KEY ASSUMPTIONS

Due to the uncertainty surrounding approval of the TWC and Bright
House transactions, Fitch's forecast reflects Charter on a
standalone basis.

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

-- Low-to-mid-single-digit cable revenue growth highlighted by
    continued high-speed data and commercial service revenue
    growth.

-- EBITDA margins remain flat reflecting ARPU growth from
    subscribers taking more advanced video services and higher
    speed data service tiers, offset by increased programming
    costs and spending to enhance customer service and products.

-- Fitch estimates Charter will generate $400 million of FCF in
    2016, slightly less than the anticipated $1 billion to $1.2
    billion of FCF during 2017 and 2018, respectively. FCF in 2016

    is negatively impacted by additional interest expense related
    to debt issued by CCOH Safari, LLC, CCO Safari II, and CCO
    Safari III (collectively, Safari Entities).

RATING SENSITIVITIES

Positive rating actions would be contemplated given the following:

-- The TWC merger and the Bright House acquisition go forward as
    expected and total leverage is below 5.0x;

-- If the company demonstrates progress in closing gaps relative
    to its industry peers in service penetration rates and
    strategic bandwidth initiatives;

-- Operating profile strengthens as the company captures
    sustainable revenue and cash flow growth envisioned when
    implementing the current operating strategy.

Fitch believes negative rating actions would likely occur given the
following:

-- A leveraging transaction or the adoption of a more aggressive
    financial strategy that increases leverage beyond 5.5x in the
    absence of a credible deleveraging plan;

-- Adoption of a more aggressive financial strategy;

-- A perceived weakening of Charter's competitive position or
    failure of the current operating strategy to produce
    sustainable revenue and cash flow growth along with
    strengthening operating margins.

LIQUIDITY

Fitch regards Charter's liquidity position and overall financial
flexibility as satisfactory given the rating category. Charter's
financial flexibility will improve in step with the growth of FCF
generation. Charter generated $519 million of FCF during the year
ended Dec. 31, 2015. Although FCF had been increasing due primarily
to a decrease in capital expenditures driven by the completion of
Charter's transition to all-digital in 2014, 2015 was negatively
impacted by interest expense associated with debt issued for the
transactions. The company's liquidity position includes cash of $5
million, excluding cash held in escrow at Safari Entities, and is
supported by $961 million of borrowing capacity from its $1.3
billion revolver and anticipated FCF generation. Commitments under
the company's revolver will expire in April 2018. Fitch notes that
the revolver will increase to $3 billion as part of the TWC and
Bright House transactions.

Charter's leverage as of the last 12 months ended Dec. 31, 2015 was
4.1x, excluding the debt issued by Safari Entities. Charter's total
leverage target remains unchanged, ranging between 4x and 4.5x, and
will remain unchanged following the completion of the transactions.
Fitch recognizes that a large portion of the TWC transaction will
involve senior secured debt, both at TWC and the Safari Entities,
including approximately $22.5 billion of existing TWC senior
secured debt. All existing TWC and Safari Entities first-lien debt
will be rolled into CCO and will have equal and ratable security
with all existing Charter first-lien debt.

Charter stated it expects its first lien leverage of 3.5x upon the
closing of the transactions. Depending on the ultimate capital
structure, a one- or two-notch upgrade of Charter's IDR and
existing ratings could be possible provided that pro forma senior
secured leverage is at or below 4x and total leverage does not
exceed 5x.

Charter proactively extended its maturity profile and only 5% of
outstanding debt matures before 2019, including $93 million and
$102 million during 2016 and 2017, respectively. Fitch believes
that Charter has the financial flexibility to retire near-term
maturities with cash on hand and future FCF.

FULL LIST OF RATING ACTIONS

Fitch maintains the following ratings on Rating Watch Positive:

CCO Holdings, LLC
-- Long-term IDR 'BB-';
-- Senior unsecured 'BB-'.

Charter Communications Operating, LLC
-- Long-term IDR 'BB-';
-- Senior secured 'BB+'.

CCOH Safari, LLC
-- Senior unsecured 'BB'.

Fitch affirms the following issue ratings:

CCO Safari II, LLC
--Senior secured at 'BBB-'.

CCO Safari III, LLC
-- Senior secured at 'BBB-'


CLEANFUEL USA: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: CleanFUEL USA, Inc.
        111 Halmar Cove
        Georgetown, TX 78628

Case No.: 16-10398

Type of Business: Designs and manufactures alternative fuel
                  equipment for propane auto gas

Chapter 11 Petition Date: April 3, 2016

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Hon. Christopher H. Mott

Debtor's Counsel: Kell C. Mercer, Esq.
                  KELL C. MERCER, P.C.
                  1602 E. Cesar Chavez
                  Austin, TX 78702
                  Tel: 512-627-3512
                  Fax: (512) 597-0767
                  Email: kell.mercer@mercer-law-pc.com

                    - and -

                  Daniel C. Roberts, Esq.
                  C. DANIEL ROBERTS & ASSOCIATES, P.C.
                  1602 East Cesar Chavez
                  Austin, TX 78702
                  Tel: (512) 494-8448
                  Fax: (512) 494-8712
                  Email: droberts@cdrlaw.net

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Curtis J. Donaldson, president and CEO.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
AMTROL Inc                                               $32,655

Continental Automotive Italy                             $55,225

Endress + Hauser                                        $185,116

Exotic Automation & Supply                               $64,255

Force 911                                                $34,461

Greg Sales                                              $564,850
2626 Ravello Ridge Drive
Austin, TX 78735

ICOM North America, LLC                                 $240,834

Kent Rubber Supply                                       $48,974

Minarik Automation & Control                             $46,435

RTD Manufacturing                                        $81,073

Scott, Douglass & McConnico, LLP                        $107,563

Select Premium Services, Inc.                            $55,057

South Coast                                           $1,118,055
Partners, LLC
2626 Ravello Ridge Drive
Austin, TX 78735

Tejas Propane, LLC                                      $136,107

Terry Klare                                             $554,722
5949 Sherry Lane Ste 970
Dallas, TX 75225

Thomas Built Buses                                      $102,500

U.S. Dept of Energy Morgantown Campus                 $1,762,468
3610 Collins Ferry
Road PO Box 880
Morgantown, WV
26507-0880

United Loan                                           $1,899,100
Processing
PO Box 2373
Charleston, WV 25328

Whitney Bank Credit Card Center                          $35,000

Whitney Bank Lake Charles                                $155,010
Commercial Len


COLORADO TIRE: 341 Meeting of Creditors Set for April 15
--------------------------------------------------------
The meeting of creditors of Colorado Tire Corp. is set to be held
on April 15, 2016, at 1:30 p.m.

The meeting will be held at the U.S. Courthouse, Room 4107,
according to a filing with the U.S. Bankruptcy Court for the
Western District of Washington.

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 Colorado Tire

Colorado Tire Corporation ("CTC") is one of three companies in the
world that successfully designed, developed and delivered the 63"
and 57" super-giant OTR tires to mining companies before 2007.
Since then, Colorado Tire has been a global leader in
performance-guaranteed OTR tires and is committed to great service
in addition to high-quality OTR tires of all sizes.

Colorado Tire offers full range OTR tires from 16" up to 63", in
addition to other types of rubber tires, and is dedicated to
continuously improving Colorado OTR tire's onsite performance
worldwide.

Colorado Tire filed Chapter 11 bankruptcy petition (Bankr. W.D.
Wash. Lead Case No. 16-11345) on March 15, 2016. The petition was
signed by Joan Lee, president of Debtor.

The Debtor has estimated assets of $50 million to $100 million and
estimated debts of $1 million to $10 million. The case has been
assigned to Judge Christopher M Alston.


COMSTOCK MINING: Closes Public Offering of $3.5M Common Stock
-------------------------------------------------------------
Comstock Mining Inc. has closed its previously announced
underwritten public offering of 10,000,000 shares of its common
stock at an offering price of $0.35 per share of common stock.
Gross proceeds to the Company from this offering are approximately
$3,500,000 before deducting underwriting discounts and commissions
and other estimated offering expenses payable by the Company.  The
Company granted the underwriter a 45-day option to purchase up to
an aggregate of 1,500,000 additional shares of its common stock to
cover over-allotments, if any.

Aegis Capital Corp. acted as sole book running manager for the
offering.

Northland Capital Markets and Tectonic Advisory Partners (acting
through Ecoban Securities Corporation) acted as financial advisors
to the Company.

The offering was made pursuant to an effective shelf registration
statement (No. 333-208824) previously filed with the U.S.
Securities and Exchange Commission.  A final prospectus supplement
and accompanying base prospectus relating to the offering were
filed with the SEC.

Copies of the final prospectus supplement and accompanying
prospectus relating to this offering may be obtained from the SEC's
website at www.sec.gov or from Aegis Capital Corp., Prospectus
Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019,
telephone: 212-813-1010 or email: prospectus@aegiscap.com.

                     About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock District in 2003.  Since then, the
Company has consolidated a substantial portion of the Comstock
district, secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining reported a net loss available to common
shareholders of $15.9 million on $18.5 million of total revenues
for the year ended Dec. 31, 2015, compared to a net loss available
to common shareholders of $13.3 million on $25.6 million of total
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $43.2 million in total assets,
$24.5 million in total liabilities and $18.8 million in total
stockholders' equity.


COMSTOCK MINING: Partners with American Mining for Mining Services
------------------------------------------------------------------
Comstock Mining Inc. disclosed in a press release that it has
entered into an agreement with its strategic partner, American
Mining and Tunneling, LLC and American Drilling Corp, LLC, for $5
million in underground mine development, drilling and mining
services.  These services will be provided in exchange for the
issuance of up to 9,000,000 shares of its common stock, at a value
of at least $0.56 per share.

The shares to be issued to the American Group will be issued in
exchange for future drilling, mine development and underground
mining services in connection with, but not limited to, the
Company's construction of an underground exploration portal, mining
infrastructure and development of the Company's Lucerne and Dayton
Mine projects.  When such shares are issued, they will be
restricted shares subject to a minimum six-month holding period by
AMT, during which time the issued shares may not be sold.

Mr. Corrado De Gasperis, president & CEO of Comstock Mining,
commented, "We consider the American Group as the best all-around
partner for underground drilling and development competencies as we
both strengthen our commitments and grow our mutual investment in
Nevada mining.  By investing with and in us, the collaboration with
the American Group has achieved another level of strategic
partnering as we position our Nevada-based platform for the next
level of performance."

The Company has previously partnered with the American Group based
on their broad underground drilling, development and underground
mining expertise and quality services to the mining industry, and
especially in North America, with a special focus in Nevada.

Mr. Steve Elloway, president & CEO of American Group, commented,
"Our industry is emerging from three tough years of rationalized
exploration and underdevelopment.  We continue partnering with
companies in good jurisdictions, having broad development
opportunities and high quality, growth-minded, management teams
that have invested in their district and positioned themselves for
growth."

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock District in 2003.  Since then, the
Company has consolidated a substantial portion of the Comstock
district, secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining reported a net loss available to common
shareholders of $15.9 million on $18.5 million of total revenues
for the year ended Dec. 31, 2015, compared to a net loss available
to common shareholders of $13.3 million on $25.6 million of total
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $43.2 million in total assets,
$24.5 million in total liabilities and $18.8 million in total
stockholders' equity.


CONGREGATION BIRCHOS: Court to Hear Plan Confirmation May 3
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York is
set to hold a hearing on May 3, 2016, to consider approval of the
Chapter 11 plan of reorganization proposed by TD Bank N.A. for
Congregation Birchos Yosef.

The proposed plan calls for the swift sale of Congregation Birchos'
real property.  Proceeds from the sale will be used to pay
creditors in full.

Under the plan, TD Bank's $9.2 million secured claim will be paid
from the sale proceeds.  In case the net proceeds are less than the
amount of the secured claim, the deficiency portion will be treated
as an unsecured claim.

General unsecured claims estimated at $1 million will be paid in
full from the available cash or the litigation proceeds.  

Meanwhile, mechanic's lien claims), if allowed, will be paid from
the net proceeds from the sale of the 201 Route 306 property,
according to court filings.

                 About Congregation Birchos Yosef

Congregation Birchos Yosef is a religious corporation which was
formed on Jan. 16, 1985 for the purposes of creating and
maintaining a "House of Worship" in accordance with the traditions
of the Hebrew faith and to serve and advance the affairs of the
surrounding community under the leadership of the Grand Rebbe of
Nikolsburg.  Its principal office is located at 201 Route 306,
Monsey, New York.  It has real properties located in Spring Valley
and Monsey, New York.

Congregation Birchos Yosef sought bankruptcy protection (Bankr.
S.D.N.Y. Case No. 15-22254) in White Plains, New York, on Feb. 26,
2015.  Breindy Lebovits, the vice-president, signed the petition.

The Debtor estimated assets and debt of $10 million to $50
million.

On May 4, 2015, the Debtor won approval to hire (i) Pick & Zabicki
LLP as its counsel, (ii) Frances M. Caruso as its bookkeeper and
(iii) Montalbano, Condon & Frank, P.C. as special counsel for real
property tax-related matters.  On May 18, the Court authorized the
Debtor's retention of Levine & Associates, PC as special litigation
counsel.  On Sept. 11, 2015, the Court approved the retention of
The Law Offices of David Carlebach, Esq. as the Debtor's
substituted bankruptcy counsel.  On Nov. 11, 2015, the Debtor filed
a stipulation of substitution of counsel, reflecting that The Law
Offices of Allen A. Kolber, Esq. will serve as the Debtor's
substituted bankruptcy counsel.


CORD BLOOD: Reports $438,000 Net Income for 2015
------------------------------------------------
Cord Blood America, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing income of
$437,935 on $5.25 million of revenue for the year ended Dec. 31,
2015, compared to income of $240,050 on $4.33 million of revenue
for the year ended Dec. 31, 2014.

Stephen Morgan, interim president of Cord Blood America, Inc.
commented, "Our 2015 full year growth was driven primarily from the
tissue side of the business.  However, new orders for tissue
procurement services were reduced significantly starting in October
2015 and completely ceased in March 2016.  As it is unclear whether
this revenue will return, the Company continues to diligently
manage expenses in relation to revenue."

Added David Sandberg, chairman of the Board, "With operating and
other expenses reduced in tandem with the reduction in our tissue
business, we expect the overall business to continue to generate
positive EBITDA in 2016, albeit at lower levels than achieved in
2015.  Despite a reduced marketing budget, the Company continues to
sign new clients to storage contracts based on continued inbound
inquiries from families interested in our services.  We believe
this is due to customer recognition of the longstanding Corcell
brand name.  As previously announced, Boxwood Advisors, LLC has
been engaged to assist with our evaluation of strategic
alternatives.  We will provide further updates as warranted."

For the three months ended Dec. 31, 2015, total revenue decreased
to approximately $1.13 million from $1.20 million, a decrease of
approximately 5.1% compared to the same period of 2014.  The
decrease in revenue is due primarily to a decrease in orders for
the Company's tissue procurement services.

Cost of services as a percentage of revenue increased to 36.0% for
the three month period ending Dec. 31, 2015, compared to 32.8% the
same prior period of 2014.  Gross profit decreased by approximately
$0.08 million or 9.6% to approximately $0.73 million for the three
month period ending Dec. 31, 2015, from the comparable three month
period of 2014.

The Company's net income was $0.02 million for the three month
period ending Dec. 31, 2015, compared to $0.02 million for the
period ended Dec. 31, 2014.

As of Dec. 31, 2015, Cord Blood had $3.70 million in total assets,
$3.22 million in total liabilities and $474,433 in total
stockholders' equity.

At Dec. 31, 2015, the company had $0.79 million in cash, an
increase of $0.04 million or 5% from the prior comparative period
of 2014.  Cash flows from operations are currently sufficient to
fund operations, though net cash provided by operating activities
for the year ended December 31, 2015 decreased to $0.73 million
from $0.78 million from the prior comparative period of 2014.
During the last 12 months of 2015 there was no increase in notes
payable for purposes of working capital, and the Company made
payments toward notes payable to Tonaquint, Inc.

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

                       http://is.gd/TEksdk

                         About Cord Blood

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

                            *    *    *

This concludes the Troubled Company Reporter's coverage of Cord
Blood America, inc. until facts and circumstances, if any, emerge
that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


COYNE INTERNATIONAL: Harbridge Okayed as Pension Consultant
-----------------------------------------------------------
The Hon. Margaret Cangilos-Ruiz for the U.S. Bankruptcy Court for
the Northern District of New York authorized Coyne International
Enterprises Corp. to employ Harbridge Consulting Group, LLC, as
pension consultant nunc pro tunc to the Petition Date.

Harbridge, a national consulting firm with an office located at One
Lincoln Center, Syracuse, New York, will continue to provide
services as their outside pension consultants in the Chapter 11
case.

Harbridge has provided the Debtors with pension consulting
services.  Harbridge will provide certain consulting services to
the Debtor with respect to the Pension Plans, including providing
actuarial consulting services related to the Debtor's multiemployer
pension plan participation.

The hourly rates of Harbridge's personnel are:

        Staff Member                   Hourly Billing Rates
        ------------                   --------------------
     Daniel Driscoll, associate             $150
     Aaron Fields, consultant               $210
     David Pazamickas, senior consultant    $350
     Sarah Dam, senior VP                   $400

Harbridge will also charge for reinbursement of expenses incurred
in relation to the engagement.

To the best of the Debtor's knowledge, Harbridge is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The Debtor is represented by:

        Robert L. Rattet, Esq.
        Andrew C. Gold, Esq.
        Stephen B. Selbst, Esq.
        HERRICK, FEINSTEIN LLP
        2 Park Avenue
        New York, NY 10016
        Tel: (212) 592-1400
        Fax: (212) 592-1500
        E-mails: rrattet@herrick.com
                 agold@herrick.com
                 sselbst@herrick.com

        William J. Brown, Esq.
        PHILLIPS LYTLE LLP
        125 Main Street
        Buffalo, NY 14203
        Tel: (716) 847-7089
        E-mail: wbrown@phillipslytle.com

                    About Coyne International

Coyne International Enterprises Corp. filed a Chapter 11 Bankruptcy
petition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015.  The
petition was signed by Mark Samson as CEO.  

Herrick Feinstein LLP serves as the Debtor's general counsel.
Phillips Lytle LLP acts as the Debtor's local bankruptcy counsel.
Cohnreznick LLP is the Debtor's financial advisor. SSG Capital
Advisors LLC is the Debtor's investment banker. Rust Omni serves
the Debtor as claims and administrative agent. Raab, Sturm &
Ganchrow, LLP acts as labor counsel to the Debtor.  Harbridge
Consulting Group, LLC serves as the Debtor's pension consultant.

Beveridge & Diamond PC is the Debtor's environmental counsel.  GZA
Geoenvironmental, Inc. serves as the Debtor's environmental
consultant.

The Troubled Company Reporter, on Jan. 12, 2016, reported that
Medley Opportunity Fund II LP sought and obtained from Judge
Margaret Cangilos-Ruiz the conversion of its Chapter 11 case to a
case under Chapter 7.


CUMULUS MEDIA: Amends Employment Agreements with Executives
-----------------------------------------------------------
Cumulus Media Inc., on March 30, 2016, entered into amendments to
its employment agreements with each of Joseph P. Hannan, the
Company's senior vice president, treasurer and chief financial
officer, and Richard S. Denning, the Company's senior vice
president, secretary and general counsel.

The Executive Employment Agreement Amendments modify the annual
cash bonus structure applicable for each of Messrs. Hannan and
Denning.  Pursuant to the Executive Employment Agreement
Amendments, effective Jan. 1, 2016, each of Messrs. Hannan and
Denning will be eligible for an annual cash bonus based upon
achievement of performance criteria or goals set forth in an annual
executive incentive plan proposed by the chief executive officer to
the compensation committee of the Company's board of directors for
its approval.
The annual cash bonus will be calculated as a percentage of each
executive's base salary, with target award opportunities for Mr.
Hannan of 50% and Mr. Denning of 40%, or a higher amount as
determined by the Chief Executive Officer.  In any year in which
the Compensation Committee approves the EIP, it may adjust, only in
respect of that year, the target bonus applicable for each
executive.

The Company is party to an employment agreement with Suzanne
Grimes, the Company's executive vice president of Corporate
Marketing and President of Westwood division, which agreement was
also amended on March 30, 2016.  The Grimes Employment Agreement
has an initial term through July 3, 2018, and contains a provision
for automatic extensions for one-year periods thereafter, unless
terminated in advance by either party in accordance with the terms
thereof.

The Grimes Employment Agreement provides that Ms. Grimes is
entitled to receive an annual base salary of $600,000, subject to
annual increase.  The Grimes Employment Agreement also provides
that, beginning in 2016, Ms. Grimes will be eligible for an annual
cash bonus based upon the achievement of performance criteria or
goals set forth in an EIP proposed by the Chief Executive Officer,
similar to that of the Company's other executive officers.  Ms.
Grimes target award opportunity is set at 80% of her base salary,
subject to the potential adjustment as described above for the
Company's other executive officers.

The Grimes Employment Agreement provides that Ms. Grimes was
entitled to receive an initial award of options to purchase 200,000
shares of the Company's Class A common stock and that she be
eligible to receive, and that the Chief Executive Officer will
recommend that she receive, an additional award of options to
purchase 200,000 shares of the Company's Class A common stock in
the first quarter of 2017, subject to the approval of the
Compensation Committee.

In the event the Company terminates Ms. Grimes's employment without
"cause" or if Ms. Grimes terminates her employment for "good
reason" (as these terms are defined in the Grimes Employment
Agreement) during the term of the agreement, subject to Ms. Grimes
entering into a separation and release agreement with the Company
(which shall include a non-disparagement commitment from Ms.
Grimes), Ms. Grimes will be entitled to the following:

  * payment of her base salary and target annual bonus through the

    remaining term of the agreement;

  * at the Company's election, reimbursement or direct payment for

    18 months of COBRA coverage, provided that Ms. Grimes elects
    such coverage and remains eligible therefor.

In the event Ms. Grimes is terminated with cause, then the Company
will only be obligated to pay her any unpaid base salary, earned
and payable bonus payments and unreimbursed expenses that were
accrued, but unpaid.  If Ms. Grimes' employment is terminated due
to death or disability, the Company will be obligated to pay only
her earned, but unpaid base salary.

During her employment and for 12 months following her termination,
Ms. Grimes is subject to compliance with confidentiality and
non-solicitation covenants in the Grimes Employment Agreement.  In
addition, during her employment and for six months following her
termination, Ms. Grimes is subject to a non-compete covenant in the
Grimes Employment Agreement.

Also on March 30, 2016, the Company and Mary G. Berner, the
Company's chief executive officer, entered into an amendment to her
employment agreement, dated Sept. 29, 2015, pursuant to which Ms.
Berner's title changed from chief executive officer to president
and chief executive officer.

                        About Cumulus Media

Cumulus Media Inc. (CMLS) combines high-quality local programming
with iconic, nationally syndicated media, sports and entertainment
brands in order to deliver premium choices for listeners, provide
substantial reach for advertisers and create opportunities for
shareholders.  As the largest pure-play radio broadcaster in the
United States, Cumulus provides exclusive content that is fully
distributed through approximately 460 owned-and-operated stations
in 90 U.S. media markets (including eight of the top 10), more
than 10,000 broadcast radio affiliates and numerous digital
channels.  Cumulus is well-positioned in the widening digital
audio space through a significant stake in the Rdio digital music
service, featuring 30 million songs on-demand in addition to
custom playlists and exclusive curated channels.  Cumulus is also
the leading provider of country music and lifestyle content
through its NASH brand, which will serve country fans through
radio programming, NASH magazine, concerts, licensed products and
television/video. For more information, visit www.cumulus.com

Cumulus Media put AR Broadcasting Holdings Inc. and three other
units to Chapter 11 protection (Bankr. D. Del. Lead Case No.
11-13674) in 2011 after struggling to pay off debts that topped
$97 million as of June 30, 2011.

Cumulus Media reported a net loss attributable to common
shareholders of $546.49 million on $1.16 billion of net revenue for
the year ended Dec. 31, 2015, compared to net income attributable
to common shareholders of $11.76 million
on $1.26 billion of net revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Cumulus Media had $3.02 billion in total
assets, $3 billion in total liabilities and $16.03 million in total
stockholders' equity.

                           *     *     *

Standard & Poor's Ratings Services said that it lowered its
corporate credit rating on Atlanta-based radio broadcaster Cumulus
Media Inc. to 'B-' from 'B', as reported by the TCR on Nov. 10,
2015.

As reported by the TCR on Sept. 17, 2015, Moody's Investors Service
downgraded Cumulus Media Inc.'s Corporate Family Rating to B3 from
B2.  Cumulus' B3 Corporate Family Rating reflects Moody's
expectation that debt-to-EBITDA will remain elevated and in the mid
to high 8x through FYE2015 (including Moody's standard adjustments)
due to continued revenue declines in core ad sales and network
revenue as well as the absence of political ad spending in 2015, an
odd numbered year.


DOLPHIN DIGITAL: Delays Filing of 2015 Form 10-K
------------------------------------------------
Dolphin Digital Media, Inc. filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended Dec.
31, 2015.  The Company said the Form 10-K could not be filed within
the prescribed time because additional time is required by its
management and auditors to prepare certain financial information to
be included in that report.

                    About Dolphin Digital

Coral Gables, Florida-based Dolphin Digital Media, Inc., is
dedicated to the twin causes of online safety for children and
high quality digital entertainment.  By creating and managing
child-friendly social networking websites utilizing state-of the-
art fingerprint identification technology, Dolphin Digital Media,
Inc. has taken an industry-leading position with respect to
internet safety, as well as digital entertainment.

Dolphin Digital reported a net loss of $1.87 million on $2.07
million of total revenue for the year ended Dec. 31, 2014, compared
to a net loss of $2.46 million on $2.29 million of total revenue
for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $3.07 million in total
assets, $14.3 million in total liabilities, all current, and a
total stockholders' deficit of $11.3 million.

BDO USA, LLP, in Miami, Florida, 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, negative cash flows from operations, and
does not have sufficient working capital.  These events raise
substantial doubt about the Company's ability to continue as a
going concern.


DOLPHIN DIGITAL: Incurs $4.05 Million Net Loss in 2015
------------------------------------------------------
Dolphin Digital Media, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$4.05 million on $2.99 million of total revenue for the year ended
Dec. 31, 2015, compared to a net loss of $1.87 million on $2.07
million of total revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Dolphin Digital had $2.92 million in total
assets, $15.80 million in total liabilities and a total
stockholders' deficit of $12.87 million.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from operations, negative cash flows from operations, and
does not have sufficient working capital.  These events 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/clltS4

                    About Dolphin Digital

Coral Gables, Florida-based Dolphin Digital Media, Inc., is
dedicated to the twin causes of online safety for children and
high quality digital entertainment.  By creating and managing
child-friendly social networking websites utilizing state-of the-
art fingerprint identification technology, Dolphin Digital Media,
Inc. has taken an industry-leading position with respect to
internet safety, as well as digital entertainment.


DRAFTDAY FANTASY: Board OKs Exchange Agreement with MGT
-------------------------------------------------------
On Sept. 8, 2015, DraftDay Fantasy Sports, Inc. entered into an
Asset Purchase Agreement with MGT Capital Investments, Inc. and MGT
Sports, Inc., pursuant to which the Company acquired all of the
assets of the DraftDay.com business from MGT.  Under the Asset
Purchase Agreement, the Company issued a promissory note to MGT
Sports, Inc. in the amount of $1,875,000, bearing interest at the
rate of 5% per annum, which was due on March 8, 2015.

The Company recently disclosed in a regulatory filing with the
Securities and Exchange Commission that on March 24, 2016, the
Company's Board of Directors approved the Company entering into an
exchange agreement with MGT relating to the MGT Note.  Under the
MGT Exchange Agreement, the MGT Note will be exchanged in full for
(a) approximately $51,302.74 in cash representing the six months of
accrued interest; (b) 2,748,353 common shares of Company stock in
exchange for a reduction in the remaining principal amount of
$824,506; and (c) 110 shares of a new Series D convertible
preferred series of Company stock.  The $940,505 remaining due
under the note will be due on July 31, 2016.

                         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.

As of Dec. 31, 2015, Draftday had $38.81 million in total assets,
$60.08 million in total liabilities, $12.28 million in series C
convertible redeemable preferred stock, and a $33.54 million total
stockholders' deficit.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.


DRAFTDAY FANTASY: Draws Entire $1.5M Under SIC VI Facility
----------------------------------------------------------
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 of the Company entered into a secured
revolving loan agreement with 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 March 29, 2016, the
Company borrowed an additional $112,000 under the Secured Revolving
Loan.  The Company has now borrowed the entire $1,500,000 under the
Secured Revolving Loan, according to a Form 8-K report filed with
the Securities and Exchange Commission.

                       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.

As of Dec. 31, 2015, Draftday had $38.8 million in total assets,
$60.08 million in total liabilities, $12.3 million in series C
convertible redeemable preferred stock, and a $33.5 million total
stockholders' deficit.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.


DRAFTDAY FANTASY: Has $500,000 Financing Pact With CEO Affiliate
----------------------------------------------------------------
As disclosed in a Form 8-K report filed with the Securities and
Exchange Commission, Sillerman Investment Company VI LLC, an
affiliate of Robert F.X. Sillerman, the executive chairman and
chief executive officer of DraftDay Fantasy Sports, Inc. entered
into a secured revolving line of credit agreement with the Company
and its subsidiaries, wetpaint.com, Inc. and Choose Digital Inc.,
pursuant to which the Company can borrow up to $500,000.  The
Secured Revolving Line of Credit, entered on March 29, 2016, bears
interest at the rate of 12% per annum.

In connection with the Secured Revolving Line of Credit, the
Company and the Subsidiaries have entered into a Security Agreement
with SIC VI, under which the Company and the Subsidiaries have
granted SIC VI a continuing security interest in all assets of the
Company and the Subsidiaries, with the exception of the Company's
interest in DraftDay Gaming Group, Inc.
  
The Company intends to use the proceeds from the Secured Revolving
Line of Credit to fund working capital requirements and for general
corporate purposes in accordance with a budget to be agreed upon by
SIC VI and the Company.  $88,000 has been advanced thereunder.
Because Mr. Sillerman is a director, executive officer and greater
than 10% stockholder of the Company, a majority of the Company's
independent directors approved the transaction.

                           About 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.

As of Dec. 31, 2015, Draftday had $38.81 million in total assets,
$60.08 million in total liabilities, $12.28 million in series C
convertible redeemable preferred stock, and a $33.54 million total
stockholders' deficit.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.


DRAFTDAY FANTASY: May Issue 150 Shares Under New CL-D Pref. Stock
-----------------------------------------------------------------
DraftDay Fantasy Sports, Inc., created a new class of Series D
Convertible Preferred Stock by filing a Certificate of Designations
of the Series D Convertible Preferred Stock of the Company with the
Secretary of State of the State of Delaware, according to a Form
8-K report filed with the Securities and Exchange Commission.  

The Company authorized the issuance of up to 150 shares of the
Series D Convertible Preferred Stock.  The rights, preferences,
privileges and restrictions of the shares of Series D Convertible
Preferred Stock and the qualifications, limitations and
restrictions thereof are contained in the Series D Certificate of
Designation and are summarized as follows:

  * The shares of Series D Convertible Preferred Stock have a
    stated value of $1,000 per share.

  * The holder of a share of Series D Convertible Preferred Stock
    will not be entitled to a liquidation preference or any
    dividends on such share.  The shares of Series D Convertible
    Preferred Stock shall have no voting rights except as required

    by law.  The consent of the holders of a majority of the
    shares of Series D Convertible Preferred Stock is necessary
    for the Company to amend the Series D Certificate of
    Designation.

  * Each share of Series D Convertible Preferred Stock is
    convertible, at the option of the holders, into shares of
    Company common stock at a at a ratio of 3,333.33 shares of
    Company common stock for each share of Series D Convertible
    Preferred Stock.  The conversion price is not subject to
    antidilution protection.  The Company may redeem any or all of

    the outstanding Series D Convertible Preferred Stock at any
    time at the then current Stated Value plus a redemption
    premium equal to the Stated Value multiplied by 10%.

                          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.

As of Dec. 31, 2015, Draftday had $38.81 million in total assets,
$60.08 million in total liabilities, $12.28 million in series C
convertible redeemable preferred stock, and a $33.54 million total
stockholders' deficit.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.


DRAFTDAY FANTASY: Mulls Possible Reorganization
-----------------------------------------------
As previously reported in DraftDay Fantasy Sports, Inc.'s quarterly
report on Form 10-Q for the period ended Dec. 31, 2015, the
Company's Board of Directors has formed a Special Committee of
independent directors to explore strategic alternatives to enhance
value, and that these alternatives could include, among others,
possible joint ventures, strategic partnerships, marketing
alliances, sale of all or some of the Company, or other possible
transactions.

The Company disclosed in a regulatory filing with the Securities
and Exchange Commission that the Special Committee continues to
study alternatives, including the possibility of reorganization.  

"The Company continues to experience liquidity issues and is in the
process of attempting to settle debts with various trade and other
creditors.  There can be no assurances that the Company will be
able to do so."

                           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.

As of Dec. 31, 2015, Draftday had $38.8 million in total assets,
$60.08 million in total liabilities, $12.3 million in series C
convertible redeemable preferred stock, and a $33.5 million total
stockholders' deficit.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.


ELEPHANT TALK: Incurs $5 Million Net Loss in 2015
-------------------------------------------------
Elephant Talk Communications Corp. filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $5 million on $31.01 million of revenues for the year ended
Dec. 31, 2015, compared to a net loss of $21.86 million on $20.35
million of revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Elephant Talk had $25.4 million in total
assets, $17.3 million in total liabilities and $8.05 million in
total stockholders' equity.

Squar Milner, LLP (formerly Squar Milner, Peterson, Miranda &
Williamson, LLP), in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has suffered
recurring losses from operations, has an accumulated deficit of
$256 million and has negative working capital.  This raises
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.

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

                      http://is.gd/KLId5b

                      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.


ELITE ENERGY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Elite Energy Engineering, LLC
        c/o W. Donald Gieseke, Trustee
        18124 Wedge Pkwy., Ste. 518
        Reno, NV 89511

Case No.: 16-50387

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Hon. Bruce T. Beesley

Debtor's Counsel: Alan R Smith, Esq.
                  THE LAW OFFICES OF ALAN R. SMITH
                  505 Ridge St
                  Reno, NV 89501
                  Tel: (775) 786-4579
                  E-mail: mail@asmithlaw.com

Total Assets: $1.99 million

Total Liabilities: $1.11 million

The petition was signed by Donald W. Gieseke, trustee for member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nvb16-50387.pdf


EMEKS REALTY: Case Summary & 16 Unsecured Creditors
---------------------------------------------------
Debtor: Emeks Realty, LLC
        736 East 86th Street
        Brooklyn, NY 11236

Case No.: 16-20543

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 1, 2016

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

Debtor's Counsel: Neil Crane, Esq.
                  LAW OFFICES OF NEIL CRANE, LLC
                  2679 Whitney Avenue
                  Hamden, CT 06518
                  Tel: (203) 230-2233
                  Fax: 203-230-8484
                  E-mail: neilcranecourt@neilcranelaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Anugha Onuoha, member manager.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ctb16-20543.pdf


EMERALD OIL: April 19 Final Hearing on Equity Trading Protocol
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will hold a
final hearing on April 19, 2016, at 12:00 p.m., (prevailing Eastern
Time) to approve procedures for certain transfers of Emerald Oil
Inc. common stock and preferred stock.  Objections, if any, are due
April 12, 2016, at 4:00 p.m. (prevailing Eastern Time).

On March 24, 2016, the Court issued an interim order approving the
Debtors' request.

As reported by the Troubled Company Reporter, the Debtors sought
approval from the Bankruptcy Court of certain notification and
hearing procedures related to the transfers of Emerald Oil's
existing common stock and existing series B voting preferred stock
to ensure preservation of their net operating losses.
  
A company generates NOLs if the operating expenses it has incurred
exceed the revenues it has earned during a single tax year.  A
company may apply, or "carry forward," NOLs to reduce future tax
payments in a tax year or years up to 20 years after the year in
which the NOLs were generated.

The Debtors estimate at as of Dec. 31, 2014, they have NOLs in the
approximate amount of $101 million, translating to potential future
tax savings of approximately $38 million.  The NOLs are of
significant value to the Debtors and their estates because such
NOLs may be utilized by the Debtors to offset any taxable income
generated by transactions consummated during these Chapter 11
cases.

However, Section 382 of the IRC limits the amount of taxable income
that can be offset by a corporation's NOLs in taxable years
following an ownership change.  Generally, an "ownership change"
occurs if the percentage (by value) of the stock of a corporation
owned by one or more 5 percent shareholders has increased by more
than 50 percentage points over the lowest percentage of stock owned
by such shareholders at any time during the three-year testing
period ending on the date of the ownership change.

To maximize the use of the NOLs and enhance recoveries for their
stakeholders, the Debtors seek limited relief that will enable them
to closely monitor certain transfers of Common Stock or Preferred
Stock so as to be in a position to act expeditiously to prevent
those transfers, if necessary, with the purpose of preserving the
NOLs.

                      Proposed Procedures

   (a) Any person or entity that has Beneficial Ownership of 4.5
       percent or more of the Common Stock or Preferred Stock must
       serve and file a declaration of status as a substantial
       holder.

   (b) Prior to effectuating any transfer of the Common Stock or
       Preferred Stock that would (a) increase or decrease a
       Substantial Holder's Beneficial Ownership, or (b) would
       result in another person or entity becoming or ceasing to
       be a Substantial Holder, the parties to such transaction
       must serve and file a Declaration of Proposed Transfer.

   (c) The Debtors have 30 calendar days after receipt of a
       Declaration of Proposed Transfer to object to the proposed
       transaction.

   (d) If the Debtors timely object, the proposed transaction will
       remain ineffective pending a final and non-appealable order
       of the Court, unless the Debtors withdraw such objection.

   (e) If the Debtors do not object, the proposed transaction may
       proceed solely as described in the Declaration of Proposed
       Transfer.

Any transfer of the Equity Securities in violation of the
Procedures is null and void ab initio.

                        About Emerald Oil

Emerald is a Denver-based independent exploration and production
company that is focused on acquiring acreage and developing wells
in the Williston Basin of North Dakota.

Emerald Oil, Inc., Emerald DB, LLC, Emerald NWB, LLC, Emerald WB
LLC and EOX Marketing, LLC filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10704 to 16-10708) on March
22, 2016.  Ryan Smith signed the petitions as chief financial
officer.

The Debtors have hired Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Pachulski Stang
Ziehl & Jones LLP as local counsel, Intrepid Financial Partners,
LLC as investment banker, Opportune LLP as restructuring advisor
and Donlin Recano & Company, Inc., as claims and noticing agent.

Judge Kevin Gross has been assigned the cases.


ESCO MARINE: Gets Approval to Settle Dispute With Thalheimer
------------------------------------------------------------
Esco Marine Inc. received court approval for a deal that would
resolve its dispute with Thalheimer Brothers Inc. and Thalheimer
Brothers LLC.

The deal, approved by Judge David Jones of the U.S. Bankruptcy
Court for the Southern District of Texas, required Thalheimer
Brothers to pay $85,000 to settle Esco Marine's claim.  

In exchange, Esco Marine was ordered to dismiss its lawsuit against
the companies "with prejudice," according to court filings.

Esco Marine sued the companies in September last year after the
latter questioned the validity of the account receivable owed to
the Texas-based ship dismantler in the amount of $134,215.

                       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.


EXTREME PLASTICS PLUS: Proposes May 23 Deadline for Filing Claims
-----------------------------------------------------------------
Extreme Plastics Plus Inc. has filed a motion seeking court
approval to establish May 23, 2016, as the deadline for creditors
to file their pre-bankruptcy claims.

This deadline is called a "bar date" because it means that
creditors who come forward after that date may be "barred" from
ever filing a claim against the company.   

In the same filing, the company also asked for court approval to
establish Aug. 1, 2016, as the deadline for governmental units to
file their pre-bankruptcy claims.

The motion is on U.S. Bankruptcy Judge Christopher Sontchi's
calendar for May 2.

                      About Extreme Plastics

Founded in 2007, privately-held Extreme Plastics Plus, Inc.,
operates an environmental containment business specializing in
providing environmental lining, above ground storage tanks,
composite rig mats, secondary steel wall containment systems, and
closed loop solids control services, primarily for the oil and gas
industry.  Extreme Plastics has six facilities in Fairmont, West
Virginia, Tunkhannock, Pennsylvania, St. Clairsville, Ohio, Moore,
Texas, Odessa, Texas, and Oklahoma City, Oklahoma.

The stock of Extreme Plastics is held entirely by EPP Intermediate
Holdings, Inc.  The stock of EPP Intermediate is held entirely by
EPP Holding Company, LLC, a non-debtor.

Extreme Plastics, and affiliate EPP Intermediate Holdings, Inc.,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
16-10221) on Jan. 31, 2016, as the ongoing decline in the price of
oil and natural gas negatively impacted demand of the Debtors'
services.

Extreme Plastics estimated $10 million to $50 million in assets and
$50 million to $100 million in debt.  EPP Intermediate estimated $1
million to $10 million in assets and $50 million to $100 million in
debt.

As of the Petition Date, Extreme Plastics owes $49.5 million under
a secured facility provided by lenders led by Citizens Bank of
Pennsylvania, as agent.   The facility is secured by a lien in
substantially all of the Debtors' assets, as well as a pledge of
100% of the equity in Extreme Plastics and EPP Intermediate.

The Debtors tapped Sullivan Hazeltine Allinson LLC as attorneys and
Epiq Bankruptcy Solutions, LLC, as claims and noticing agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.  The Committee selected Reed
Smith LLP as counsel.


FANNIE MAE & FREDDIE MAC: A Third Look at the Implicit Guarantee
----------------------------------------------------------------
We reported in yesterday's newsletter, Fannie Mae and Freddie Mac
preferred shareholder Joshua J. Angel appeared in In re Third
Amendment Litigation, MDL No. 2713 (J.P.M.L.), last week, with a
collection of government documents supporting his contention that:

    (A) the government's implicit guarantee of preferred shares
        has always been in place;

    (B) that implicit guarantee did not change when the GSEs
        were placed into conservatorship; and

    (C) the guaranty is still in place today.  

It's important to understand that Mr. Angel does not challenge or
contest the imposition of the conservatorship in 2008 nor does he
want to unwind the Net Worth Sweep imposed in 2012.  The
conservatorship and Third Amendment make no difference to Mr.
Angel.  He wants the government to honor its promises.  He wants
Fannie and Freddie's directors to do their jobs and fulfill their
fiduciary duties to preferred shareholders, and he's preparing to
sue them individually if they don't.  

Today, we step through the documents Mr. Angel's unearthed.  

Mr. Angel's starting point is a Board of Governors of the Federal
Reserve System Internal Discussion Paper (IFDP 1045) dated Mar.
2012.  That paper -- available at http://goo.gl/O26TsE-- explores
how hundreds of U.S. banks owned GSE preferred stock and that they
were allowed to treat those riskless securities as Tier I capital.
Without the government's implicit guarantee of the GSEs' preferred
stock, the Tier I classification would be impossible.  

Mr. Angel then turns to the GSEs' sale of $22 billion of preferred
stock within a year of entering conservatorship and a sale of $4.8
billion less than four months prior to entering conservatorship.
But for the government's implicit guarantee, the GSEs' ability to
sell, at par, twice as much preferred stock as it had outstanding a
year earlier would have been impossible.

Mr. Angel examines price movements of Fannie Mae's Series T
Preferred shares as the housing finance giant marched toward
conservatorship.  The securities maintained 60% of their value as
Treasury Secretary Paulson announced the conservatorship plan --
prices reflecting the government's implicit guarantee of GSE
preferred securities.  

Mr. Angel observes that after Fannie Mae entered conservatorship,
it timely made Treasury-directed payments totaling $413 million to
certain holders of its preferred shares.  This is the "Animal Farm
equality, where all preferred shareholders are equal, but some are
more equal than others," to which Mr. Angel refers and was
mentioned in yesterday's newsletter.  

Mr. Angel also points to a Treasury-issued news release -- see
https://goo.gl/ZO00N4 -- dated Sept. 11, 2008, that affirmed the
implicit guarantee when it said, "[T]he U.S. Government stands
behind the preferred stock purchase agreements and will honor its
commitments.  Contracts are respected in this country as a
fundamental part of rule of law."  

As every corporate restructuring professional knows, the
government's warrants for 79.9% of the GSEs' common stock have no
value whatsoever unless and until the GSEs honor their obligations
to the companies' pre-conservatorship preferred shareholders.  No
rational person at the U.S. Treasury Department would allow those
warrants to expire out of the money when there are a handful of
tried and true ways to realize hundreds of millions of dollars of
value on their account.  

Mr. Angel's decades of corporate restructuring experience tell him
there's significant economic value in the GSEs' preferred
securities and speculative Fifth Amendment taking value in the
GSEs' common stock.  And Mr. Angel isn't speaking hypothetically or
otherwise pontificating.  He has his own money invested in Fannie
and Freddie's preferred securities and he expects the U.S.
government to honor its contractual obligations.    

On Mar. 1, 2016, Mr. Angel sent letters to each of Fannie and
Freddie's directors urging them to "seek and obtain clarification
from outside counsel regarding your duties and liabilities . . .
and to begin taking steps to behave as an informed, active board."
Mr. Angel's received nothing in response -- not even FHFA general
counsel's one-page form letter saying HERA prohibits shareholder
lawsuits.  

At http://gselinks.com/pdf/Govt_Perfidy_Angel.pdfis a copy of Mr.
Angel's paper entitled "Government Perfidy and Mismanagement of the
GSEs in Conservatorship" released in late-Feb. 2016 and provided by
Mr. Angel to each current GSE director on Mar. 1.

As we said yesterday, it is interesting to us that Mr. Angel is the
only party focused on the government's implicit guarantee of the
GSEs' preferred shares.  But one of our readers told us we
shouldn't be surprised because Mr. Angel is the first corporate
restructuring professional to arrive at a courthouse.  

Mr. Angel is represented by:

          Hanh V. Huynh, Esq.
          HERRICK, FEINSTEIN LLP
          2 Park Avenue
          New York, NY 10016
          Telephone: (212) 592-1482
          E-mail: hhuynh@herrick.com



FINJAN HOLDINGS: Provides Update on Challenges to Its Patents
-------------------------------------------------------------
Finjan Holdings, Inc. announced that on March 29, 2016, the Patent
Trial and Appeal Board for the United States Patent & Trademark
Office ruled on three additional petitions for Inter Partes Review
by Palo Alto Networks.  Of the 13 petitions for IPR by Palo Alto
Networks, the PTAB has ruled on five to date.

Regarding IPR2015-02001 and IPR2016-00157, both of which relate to
Finjan's U.S. Patent No. 9,225,408 ("the '408 Patent"), the PTAB
consolidated the petitions and granted institution of IPR of Claims
1, 3-7, 9, 12-16, 18-23, 29, and 35.

Regarding IPR2015-01974, which relates to Finjan's U.S. Patent No.
7,647,633 ("the '633 Patent"), the PTAB granted partial institution
of IPR of Claims 14 and 19.

Regarding IPR2015-01999, which relates to Finjan's U.S. Patent No.
7,058,822 ("the '822 Patent"), the PTAB denied institution of IPR
for three reasons: the '822 Patent had already successfully
undergone reexamination proceedings and appeal; the subject matter
cited in the prior art references by Palo Alto Networks had been
"thoroughly" considered in the reexamination proceedings; and the
burden and expense to Finjan in having to defend another challenge
of the '822 Patent based on substantially the same prior art or
arguments already considered in other proceedings and on appeal.

As previously disclosed, the PTAB earlier ruled on two Palo Alto
Networks' petitions for IPRs (IPR2015-01547 and IPR2015-02000).
Reference to previous decisions can be found on Finjan's Press
Release site.
Summary of Palo Alto Networks' IPR challenges against Finjan
Patents:

  * '154 Patent - IPR2015-01547: instituted

  * '731 Patent - IPR2015-02000: denied

  * '408 Patent - IPR2015-02001/ IPR2016-00157: consolidated &
                  instituted

  * '633 Patent - IPR2015-01974: partially instituted

  * '822 Patent - IPR2015-01999: denied
    
"We respect the PTAB's decisions and are especially pleased with
its acknowledgement that repeated efforts to challenge our patents
is burdensome and expensive to Finjan, and that the PTAB's
resources should not be expended revisiting previous unsuccessful
challenges by Palo Alto Networks and others," commented Julie
Mar-Spinola, Finjan Holding's Chief IP Officer.  "Further, we are
prepared to prove that each of the patent claims subject to IPR are
valid in light of the cited prior art in due course."

Tally of results to IPR challenges against Finjan Patents: a total
of 18 IPR challenges by 3 defendants, 3 petitions instituted, 1
petition partially instituted, 14 petitions denied.

Final summary of Symantec IPR challenges against Finjan Patents:

'154 Patent - IPR2015-01547: denied
'182 Patent - IPR2015-01548: denied
'289 Patent - IPR2015-01552: denied
'299 Patent - IPR2015-01549: denied
'494 Patent - IPR2015-01892: 3 grounds denied, 1 instituted
'494 Patent - IPR2015-01897: denied
'844 Patent - IPR2015-01894: denied
'926 Patent - IPR2015-01893: denied
'926 Patent - IPR2015-01895: denied
'996 Patent - IPR2015-01545: denied
'996 Patent - IPR2015-01546: denied

Final summary of Sophos IPR challenges against Finjan Patents:

* US Pat. No. 8,677,494 ('494 Patent) - IPR2015-01022: denied
* US Pat. No. 7,613,926 (‘926 Patent) - IPR2015-00907: denied

Finjan also has pending infringement lawsuits against FireEye,
Inc., Proofpoint Inc., Symantec Corp., Sophos, Inc., and Blue Coat
Systems, Inc. relating to, collectively, more than 20 patents in
the Finjan portfolio.  The court dockets for the foregoing cases
are publicly available on the Public Access to Court Electronic
Records (PACER) website, www.pacer.gov, which is operated by the
Administrative Office of the U.S. Courts.

                           About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan Holdings reported a net loss of $12.60 million in 2015, a
net loss of $10.47 million in 2014 and a net loss of $6.07 million
in 2013.

As of Dec. 31, 2015, Finjan had $9.20 million in total assets,
$2.85 million in total liabilities and $6.34 million in total
stockholders' equity.


FORESIGHT ENERGY: Further Extends Forbearance Pacts to April 5
--------------------------------------------------------------
As disclosed in a regulatory filing with the Securities and
Exchange Commission, Foresight Energy LLC and Foresight Energy
Finance Corporation, together with Foresight Energy LP and certain
other subsidiaries of Foresight Energy LP, again extended the term
of the existing forbearance agreement that was entered into on Dec.
18, 2015, with certain holders of the Issuers' 7.875% Senior Notes
due 2021.  As a result of the extension, the forbearance period
runs through April 5, 2016, unless further extended by the
Consenting Noteholders in their sole discretion or unless earlier
terminated in accordance with its terms.  

Foresight Receivables LLC, together with the Partnership, extended
the term of the forbearance agreement that was entered into on Jan.
27, 2016, with certain lenders under Foresight Receivables'
receivables financing agreement.  As a result of the extension, the
forbearance period runs through April 5, 2016, unless further
extended by the Consenting Lenders in their sole discretion or
unless earlier terminated in accordance with its terms.  

The extensions are intended to provide additional opportunity to
engage in discussions and negotiations with the holders of the
Notes and the Company's secured lenders.

                      About Foresight Energy

Foresight Energy mines and markets coal from reserves and
operations located exclusively in the Illinois Basin.  
As of Dec. 31, 2015, the Company has invested over $2.3 billion to
construct state-of-the-art, low-cost and highly productive mining
operations and related transportation infrastructure.  The Company
controls over 3 billion tons of proven and probable coal in the
state of Illinois, which, in addition to making the Company one of
the largest reserve holders in the United States, provides organic
growth opportunities.  The Company's reserves consist principally
of three large contiguous blocks of uniform, thick, high heat
content (high Btu) thermal coal which is ideal for highly
productive longwall operations.  Thermal coal is used by power
plants and industrial steam boilers to produce electricity or
process steam.

Foresight Energy reported a net loss attributable to limited
partner units of $39.47 million on $984.85 million of total
revenues for the year ended Dec. 31, 2015, compared to net income
attributable to limited partner units of $70.19 million on $1.10
billion of total revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Foresight had $1.83 billion in total assets,
$1.81 billion in total liabilities and $18.88 million in total
partners' capital.

Ernst & Young LLP, in St. Louis, Missouri, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, noting that the Partnership is in
default of certain provisions of its long-term debt and capital
lease obligations, resulting in a working capital deficit as of
Dec. 31, 2015.  These conditions raise substantial doubt about the
Partnership's ability to continue as a going concern.

                          *     *     *

The Troubled Company Reporter on March 22, 2016, reported that
Standard & Poor's Ratings Services said it lowered its corporate
rating on St. Louis-based Foresight Energy L.P. to 'D' from
'CCC-'.

As reported by the TCR on March 29, 2016, Moody's Investors Service
downgraded all ratings of Foresight Energy, LLC including the
corporate family rating to Caa3 from Caa1.


FOREVERGREEN WORLDWIDE: Incurs $2.62 Million Net Loss in 2015
-------------------------------------------------------------
Forevergreen Worldwide Corporation filed with the Securities and
Exchange Commission its annual report on Form 10-K reporting a net
loss of $2.62 million on $67.1 million of net total revenues for
the year ended Dec. 31, 2015, compared to net income of $1.02
million on $58.3 million of net total revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, ForeverGreen had $7.78 million in total
assets, $9.18 million in total liabilities and a total
stockholders' deficit of $1.40 million.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has suffered net losses and has accumulated a significant
deficit.  These factors raise substantial doubt about its ability
to continue as a going concern.

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

                      http://is.gd/qHXMyZ

                  About ForeverGreen Worldwide

Orem, Utah-based ForeverGreen Worldwide Corporation is a holding
company that operates through its wholly owned subsidiary,
ForeverGreen International, LLC.  The Company's product philosophy
is to develop, manufacture and market the best of science and
nature through innovative formulations as it produces and
manufactures a wide array of whole foods, nutritional supplements,
personal care products and essential oils.


FOUNDATION HEALTHCARE: Reports $5.2 Million Net Income for 2015
---------------------------------------------------------------
Foundation Healthcare, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
attributable to the Company's common stock of $5.19 million on
$126.13 million of revenues for the year ended Dec. 31, 2015,
compared to a net loss attributable  to the Company's common stock
of $2.09 million on $101.85 million of revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Foundation Healthcare had $119.91 million in
total assets, $119.88 million in total liabilities, $6.96 million
in preferred noncontrolling interest and a total deficit of $6.93
million.

"On December 31, 2015, we completed a refinancing of substantially
all of our outstanding indebtedness through the execution of a
Credit Agreement, or the TCB Credit Facility, with Texas Capital
Bank, National Association, or TCB.  The TCB Credit Facility
provides for a term loan in the principal amount of $28.4 million,
referred to as the Term Loan, and a revolving line of credit of
$12.5 million, referred to as the Revolving Loan, for total
principal of $40.9 million.  We believe our cash on hand, the $1.0
million available on the Revolving Loan and projected cash flow
from operations will provide us enough liquidity to meet our cash
requirements over the next 12 months.  However, if our cash flows
from operations do not meet or exceed our projections, we may need
to raise additional funds through debt or equity financings," the
Company stated in the report.

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


                      http://is.gd/BNISgs

                  About Foundation Healthcare

Oklahoma-based Foundation Healthcare is a healthcare services
company primarily focused on owning controlling interests in
surgical hospitals and the inclusion of ancillary service lines.
The Company currently owns controlling and noncontrolling
interests in surgical hospitals located in Texas.  The Company
also owns noncontrolling interests in ambulatory surgery centers
("ASCs") located in Texas, Oklahoma, Pennsylvania, New Jersey,
Maryland and Ohio.

Additionally, the Company provides sleep testing management
services to various rural hospitals in Iowa, Minnesota, Missouri,
Nebraska and South Dakota under management contracts with the
hospitals.  The Company provides management services to a majority
of its Affiliates under the terms of various management
agreements.  Prior to Dec. 2, 2013, the Company's name was
Graymark Healthcare, Inc.


FREEDOM COMMUNICATIONS: Gets More Time to Decide on Leases
----------------------------------------------------------
U.S. Bankruptcy Judge Mark Wallace has given Freedom Communications
Inc. until May 29, 2016, to either assume or reject unexpired
leases of nonresidential real property.

                   About Freedom Communications

Headquartered in Santa Ana, California, Freedom Communications,
Inc., owns two daily newspapers -- The Press-Enterprise in
Riverside, Calif. and The Orange County Register in Santa Ana,
Calif.

Freedom Communications and 24 of its affiliates sought Chapter 11
bankruptcy protection in California with the intention of selling
their assets to a group of local investors led by Rich Mirman,
Freedom's chief executive officer and publisher.

Headquartered in Santa Ana, California, Freedom owns two daily
newspapers -- The Press-Enterprise in Riverside, Calif. and The
Orange County Register in Santa Ana, Calif.

Freedom Communications, Inc., et al., filed Chapter 11 bankruptcy
petitions (Bankr. C.D. Cal. Proposed Lead Case No. 15-15311) on
Nov. 1, 2015.  Richard E. Mirman signed the petition as chief
executive officer.  Lobel Weiland Golden Friedman LLP serves as the
Debtors' counsel.

Freedom Communications Holdings estimated both assets and
liabilities in the range of $10 million to $50 million.


FRONTIER COMMUNICATIONS: Fitch Affirms 'BB' Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings has affirmed Frontier Communications Corporation's
(Frontier; NYSE: FTR) Issuer Default Rating (IDR) at 'BB' following
the close of the acquisition of certain wireline properties from
Verizon Communications Inc. (Verizon) on April 1, 2016. The Rating
Outlook for Frontier and its subsidiaries remains Negative.

In addition to the affirmation of the IDR, Fitch takes the
following actions:

Frontier Communications Corp.

-- IDR affirmed at 'BB';

-- The $1.5 billion senior secured delayed draw term loan due
    2021 rated 'BB+/RR2';

-- The $750 million revolving credit facility due 2018 upgraded
    to 'BB+/RR2' from 'BB/RR4' due to a security pledge granted on

    the initial draw of the $1.5 billion senior secured delayed
    draw term loan;

-- Senior unsecured notes and debentures affirmed at 'BB/RR4'.

Upon the initial draw of the $1.5 billion senior secured term loan,
Frontier's $750 million unsecured revolving credit facility and
other unsecured term loans became equally and ratably secured with
the delayed draw term loan. Combined with other secured debt, the
pledges introduced approximately $2.3 billion of secured debt into
the capital structure, excluding potential drawings on the
currently undrawn revolving credit facility. Frontier also has
approximately $850 million of operating telephone subsidiary debt
(of this amount, $100 million is secured, the remainder is
unsecured) structurally senior to all parent debt.

The RR2 recovery rating assigned to the secured revolver and senior
secured delayed draw term loan reflects the potential limitations
in value of Frontier North as collateral for the secured revolver
and secured term loans, including potential revolver drawings (per
Fitch's approach), if cash flows are stressed. In addition,
Frontier North has $200 million of unsecured debt that is
structurally senior to the equity pledge providing security to the
parent secured debt.

The following rating actions have been taken on the three former
Verizon subsidiaries acquired by Frontier as follows:

Verizon California
Verizon Florida
-- IDR downgraded to 'BB' from 'A-';
-- Senior unsecured debt downgraded to 'BB+/RR1' from 'A-'.

GTE Southwest
-- IDR downgraded to 'BB' from 'A-';
-- First mortgage bonds downgraded to 'BB+/RR1' from 'A-'.

The Rating Watch Negative has been removed from these three
subsidiaries. The Rating Outlook is Negative.

Frontier's Rating Outlook is Negative, as Fitch does not expect
Frontier to reach Fitch's net leverage threshold of 3.75x for the
current rating until approximately the end of 2017.

KEY RATING DRIVERS

Improved Scale: On April 1, 2016, Frontier acquired certain
wireline operations in California, Texas and Florida from Verizon
Communications Inc. for approximately $10.54 billion, including
$600 million of assumed debt. The acquisition materially increases
Frontier's scale, as Fitch expects Frontier's consolidated revenues
in 2016 to rise to approximately $10 billion from $5.6 billion in
2015.

Strengthening FCF: Frontier expects costs to be reduced by more
than $600 million in the first year after close (Fitch has assumed
$500 million), with savings rising to $700 million annually by the
third year. Fitch believes the acquisition of the Verizon
properties will lead to improved free cash flow (FCF, defined as
net cash provided by operating activities less capital spending and
dividends) over time. The acquisition is not expected to require
material additional capital spending given past network upgrades by
Verizon.

Leverage Elevated for Rating: Excluding $6.6 billion of senior
unsecured notes issued in 2015 to fund the Verizon transaction,
gross leverage was 4.1x at Dec. 31, 2015. Frontier will need
additional time to deleverage, after incorporating the Verizon
assets into its operations, and Fitch estimates leverage will be
below 3.75x by the end of 2017.

KEY ASSUMPTIONS

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

-- In 2016, Frontier's consolidated revenues are expected to rise

    to approximately $10 billion owing to the expected close of
    the Verizon line acquisition on April 1;

-- 2016 EBITDA margins are in the low 40 percent range. Fitch has

    conservatively assumed synergies for the first year following
    the close of the transaction will be $500 million, slightly
    less than the expectations by Frontier of day one synergies of

    more than $600 million. While there is some risk that costs
    could vary around this metric, the synergies represent costs
    allocated to these properties by Verizon that will no longer
    occur as operations are flash cut to Frontier's systems.
    Frontier has achieved its synergy targets in previous recent
    transactions;

-- Capex is expected to be in the range of $1.6 billion to $1.7
    billion in 2016. Fitch's assumptions reflect capital spending
    related to operations in the range of 12% to 12.5% of revenues

    for legacy Frontier and the Verizon properties, with
    additional capital spending for CAF II and integration;

-- Other than the $1.5 billion drawn on the senior secured term
    loan to complete the Verizon transaction, Fitch forecasts only

    a modest debt issuance in 2017 to maintain cash balances of
    approximately $500 million during the 2016 to 2018 period.

RATING SENSITIVITIES

The Outlook could be revised to Stable if in Fitch's view Frontier
is able to sustain post-transaction net leverage at or below 3.75x.
In early 2016, Fitch revised the net leverage threshold down to
3.75x from 4.0x owing to the continued secular challenges faced by
the wireline industry. Business services revenue has been slower
than Fitch's previously expected levels of GDP-type growth owing to
factors such as aggressive cable operator competition and slow
economic growth.

The rating could be downgraded if net leverage rises above 3.75x
due to a number of factors, including lower synergy realization or
assumptions, and competitive pressures on EBITDA. Revenue pressures
in the wireline industry have moderated, but a return to mid-single
digit declines in revenue, while not expected, would lead to a
negative action.

LIQUIDITY

Manageable Maturities: Excluding the draw on the senior secured
term loan related to the Verizon transaction financing, Frontier is
not expected to need to access the capital markets to refinance
maturing debt through at least 2016. Existing principal repayments
amount to approximately $384 million and $646 million during 2016
and 2017, respectively.

Liquidity Solid: Supporting the rating is Frontier's ample
liquidity, which is derived from its cash balances and its $750
million revolving credit facility. At Dec. 31, Frontier had $936
million in balance sheet cash, excluding $8.44 billion of
restricted cash which was released upon the closing of the Verizon
transaction to fund a portion of the purchase price.

Credit Facility: The $750 million senior secured revolving credit
facility is in place until May 2018. The facility is available for
general corporate purposes but may not be used to fund dividend
payments. The main financial covenant in Frontier's secured
facilities requires the maintenance of a net debt-to-EBITDA level
of 4.5x or less during the entire period. Net debt is defined as
total debt less cash exceeding $50 million.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the ratings and maintained the Negative Outlook
as follows:

Frontier Communications Corporation
-- IDR at 'BB';
-- Senior unsecured notes and debentures at 'BB/RR4'.

Frontier North Inc.
-- IDR at 'BB';
-- $200 million unsecured notes due 2028 at 'BB+/RR1'.

Frontier West Virginia
-- IDR at 'BB';
-- $50 million private placement notes due 2029 at 'BB+/RR1'.

In addition, Fitch has taken the following actions:

Frontier Communications Corp.
-- The $1.5 billion senior secured delayed draw term loan due
    2021 rated 'BB+/RR2';
-- The $750 million revolving credit facility due 2018 has been
    upgraded to 'BB+/RR2' from 'BB/RR4' due to a security pledge
    granted on the initial draw of the $1.5 billion senior secured

    delayed draw term loan.

Verizon California
Verizon Florida
-- IDR downgraded to 'BB' from 'A-';
-- Senior unsecured debentures downgraded to 'BB+/RR1' from 'A-'.

GTE Southwest
-- IDR downgraded to 'BB' from 'A-';
-- First mortgage bonds downgraded to 'BB+/RR1' from 'A-'.

The Rating Watch Negative has been removed from these three
subsidiaries. The Rating Outlook is Negative.



FUEL PERFORMANCE: Incurs $1.92 Million Net Loss in 2015
-------------------------------------------------------
Fuel Performance Solutions, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $1.92 million on $456,000 of net revenues for the year
ended Dec. 31, 2015, compared to a net loss of $1.65 million on
$1.72 million of net revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Fuel Performance had $2.35 million in total
assets, $4.02 million in total liabilities and a total
stockholders' deficit of $1.67 million.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
loss from operations and has a working capital deficit. This factor
raises 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/bnr0Jt

                      About Fuel Performance

Fuel Performance Solutions, Inc., was incorporated in Nevada on
April 9, 1996, by a team of individuals who sought to address the
challenges of reducing harmful emissions while at the same time
improving the operating performance of internal combustion
engines, especially with respect to fuel economy and engine
cleanliness.  After the Company's incorporation, its initial focus
was product research and development, but over the past few years,
the Company's efforts have been directed to commercializing its
product slate, primarily DiesoLiFTTM and the PerfoLiFTTM BD-
Series, for use with diesel fuel and bio-diesel fuel blends, by
focusing on marketing, sales and distribution efforts in
conjunction with our distribution partners.  On Feb. 5, 2014, the
Company changed its name from International Fuel Technology, Inc.,
to Fuel Performance Solutions, Inc.


GASTAR EXPLORATION: Provides Operational Update
-----------------------------------------------
As previously announced, Gastar Exploration Inc. entered into an
agreement with an affiliate of Tug Hill Inc. to sell substantially
all of its assets and proved reserves as well as a significant
portion of its undeveloped acreage in the Appalachian Basin for
$80.0 million, subject to certain adjustments and customary closing
conditions, including certain lessor consents to assign.  Due to a
delay in obtaining one required lessor consent, the transaction is
now expected to close on or before April 8, 2016. The effective
date remains Jan. 1, 2016, and proceeds will be used to reduce
borrowings under Gastar's revolving credit facility.  

Gastar also reported updated production data from its Deep River
30-1H well, its first operated test well of the STACK formation
Meramec Shale play in Kingfisher County, Oklahoma.  The Deep River
30-1H produced for the first 90 days of post-peak production at a
gross average sales rate of 713 barrels of oil equivalent ("Boe")
per day (61% oil), which was in-line with initial production rates
in the independent reservoir engineers' estimated ultimate recovery
of 705 MBoe, with oil comprising 50%of total oil equivalent volumes
on a wet gas basis.  Gastar has a 100% working (80% net revenue)
interest in the well.

The Company also announced that it has completed its second Meramec
Shale well, the Holiday Road 2-1H, with 34 frack stages using
approximately 12 million pounds of proppant.  The Holiday Road 2-1H
is also located in Kingfisher County and has a lateral length of
4,300 feet.  Initial flow back is expected to commence in the next
two weeks.    

                     About Gastar Exploration

Gastar Exploration Inc. is an independent energy company engaged in
the exploration, development and production of oil, condensate,
natural gas and natural gas liquids in the United States.  Gastar's
principal business activities include the identification,
acquisition, and subsequent exploration and development of oil and
natural gas properties with an emphasis on unconventional reserves,
such as shale resource plays.  In Oklahoma, Gastar is developing
the primarily oil-bearing reservoirs of the Hunton Limestone
horizontal play and is testing other prospective formations on the
same acreage, including the Meramec Shale and the Woodford Shale,
which is referred to as the STACK Play and emerging prospective
plays in the shallow Oswego formation and in the Osage formation, a
deeper bench of the Mississippi Lime located below the Meramec
Shale.  In West Virginia, Gastar has developed liquids-rich natural
gas in the Marcellus Shale and has drilled and completed two
successful dry gas Utica Shale/Point Pleasant wells on its acreage.
Gastar has entered into a definitive PSA to sell substantially all
of its assets and proved reserves and a significant portion of its
undeveloped acreage in the Appalachian Basin.  For more
information, visit Gastar's website at www.gastar.com.

Gastar Exploration reported a net loss attributable to common
stockholders of $473.98 million for the year ended Dec. 31, 2015,
compared to net income attributable to common stockholders of
$36.52 million for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Gastar had $430.86 million in total assets,
$551.05 million in total liabilities and a total stockholders'
deficit of 120.18 million.

                      *    *      *

As reported by the TCR on March 15, 2016, Standard & Poor's Ratings
Services lowered its corporate credit rating on U.S.-based oil and
gas exploration and production (E&P) company Gastar Exploration
Inc. to 'CCC-' from 'CCC+'.  The downgrade follows Gastar's
announcement that it had just $29 million of cash on hand and a
fully drawn revolver.  The company's borrowing base current stands
at $180 million, but will be reduced to $100 million at the earlier
of the close of the Appalachian asset sale or April 10, 2016.
Proceeds from the Appalachian asset sale are expected to be $80
million.


GELTECH SOLUTIONS: Files Transition Report on Form 10K-T
--------------------------------------------------------
GelTech Solutions, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K for the transition period
from July 1, 2015, to Dec. 31, 2015.

The Company reported a net loss of $2.63 million on $776,607 of
sales for the six months ended Dec. 31, 2015, compared to a net
loss of $2.12 million on $266,762 of sales for the same period in
2014.

For the year ended June 30, 2015, the Company reported a net loss
of $5.51 million on $800,365 of sales compared to a net loss of
$7.11 million on $814,587 of sales for the year ended June 30,
2014.

As of Dec. 31, 2015, Geltech had $1.96 million in total assets,
$6.44 million in total liabilities and a total stockholders'
deficit of $4.48 million.

"Our ability to continue as a going concern is in doubt absent
obtaining adequate new debt or equity financing and achieving
sufficient sales levels.

"We anticipate these losses will continue for the foreseeable
future.  We have not reached a profitable level of operations,
which raises substantial doubt about our ability to continue as a
going concern.  Since January 2014, we have received $5,365,000
from our principal shareholder in consideration for common stock
and warrants and advances against a secured convertible line of
credit facility.  These funds have enabled us to sustain our
operations.  Our continued existence is dependent upon our
achieving sufficient sales levels of our products including
FireIce, EMFIDS and Soil2O "Dust Control" and obtaining adequate
financing," the Company stated in the report.

The Company's auditors Salberg & Company, P.A., in Boca Raton,
Florida, issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company has a net loss and net cash used in operating
activities in of $2,638,580 and $2,146,501, respectively, for the
six months ended Dec. 31, 2015, and has an accumulated deficit and
stockholders' deficit of $43,285,883 and $4,482,416, respectively,
at Dec. 31, 2015.  These matters raise substantial doubt about the
Company's ability to continue as a going concern.

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

                      http://is.gd/tUKitS

                         About GelTech

Jupiter, Fla.-based GelTech Solutions. Inc., is a Delaware
corporation organized in 2006.  The Company markets four products:
(1) FireIce(R), a water soluble fire retardant used to protect
firefighters, structures and wildlands; (2) Soil2O(R) 'Dust
Control', its new application which is used for dust mitigation in
the aggregate, road construction, mining, as well as, other
industries that deal with daily dust control issues; (3)
Soil2O(R), a product which reduces the use of water and is
primarily marketed to golf courses, commercial landscapers and the
agriculture market; and (4) FireIce(R) Home Defense Unit, a system
for applying FireIce(R) to structures to protect them from
wildfires.


GENIUS BRANDS: Incurs $3.48 Million Net Loss in 2015
----------------------------------------------------
Genius Brands International, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $3.48 million on $907,983 of total revenues for the year
ended Dec. 31, 2015, compared to a net loss of $3.72 million on
$926,000 of total revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Genius Brands had $18.87 million in total
assets, $4.74 million in total liabilities and $14.1 million in
total equity.

"Historically, the Company has incurred net losses.  As of December
31, 2015, the Company had an accumulated deficit of $27,735,776 and
a total stockholders' equity of $14,121,584.  At December 31, 2015,
the Company had current assets of $5,432,031, including cash of
$5,187,620 and current liabilities of $2,606,680, including
short-term debt to related parties which bears no interest and has
no stated maturity of $410,535 and certain trade payables of
$925,000 to which the Company disputes the claim, resulting in
working capital of $2,825,351.  For the years ended December 31,
2015 and 2014, the Company reported a net loss of $3,483,122 and
$3,728,599, respectively, and reported net cash used by operating
activities during year ended December 31, 2015 of $3,396,581."

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

                        http://is.gd/lnN8MD

On March 30, 2016, Genius Brands distributed to its shareholders a
letter from the Company's CEO, a copy of which is available for
free at http://is.gd/mCW7zU

                        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.


GLYECO INC: Delays 2015 Form 10-K to Complete Audit
---------------------------------------------------
GlyEco, Inc., filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended
Dec. 31, 2015.  The Company said it has requested this extension to
enable its independent registered public accounting firm to
complete its audit of the financial statements to be included in
the Company's Annual Report on Form 10-K for the fiscal year ended
Dec. 31, 2015.  Glyeco intends to file the Annual Report on Form
10-K within the additional time allowed by this extension.

                       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.


GOLD RIVER VALLEY: Court OKs Lone Oak Deal, Closes Case
-------------------------------------------------------
A U.S. bankruptcy judge has approved a deal that would resolve Gold
River Valley LLC's dispute with Lone Oak Fund LLC over payment of
default interest owed to the secured creditor.

Under the agreement, Lone Oak will retain the payment but will not
receive any further payments from the estate.

The agreement, approved by U.S. Bankruptcy Judge Thomas Donovan,
also closes the receivership estate to avoid incurring additional
fees and costs.

The agreement was reached following a mediation overseen by David
Meadows, Esq., who was appointed on Jan. 21 by the bankruptcy
judge.

In the same order, Judge Donovan approved the fees and expenses of
Levene, Neale, Bender, Yoo & Brill LLP in the amount of $238,879,
and Gold River's Chapter 11 plan of reorganization on a final
basis.

The bankruptcy judge also ordered to close Gold River's Chapter 11
case, according to court filings.

                     About Gold River Valley

Gold River Valley, LLC, sought Chapter 11 bankruptcy protection
(Bankr. C.D. Cal. Case No. 15-10691) in Los Angeles, on Jan. 16,
2015.  

David B. Golubchik, Esq., and Jeffrey S. Kwong, Esq., at Levene,
Neale, Bender, Yoo & Brill L.L.P., represents the Debtor as
counsel.

The Debtor disclosed $12,000,000 in assets and $8,720,911 in
liabilities as of the Chapter 11 filing.

                           *     *     *

Judge Thomas B. Donovan of the U.S. Bankruptcy Court for the
District of California on Sept. 16, 2015, entered an order
conditionally confirming the Chapter 11 Plan of Gold River Valley.

The order authorized and approved the sale of the Debtor's property
to Ding Gang, the buyer, for $10.8 million.  A copy of the order is
available for free at http://is.gd/2JWI1V


GRAHAM GULF: Objects to Dafour's Fees, Costs and Expenses
---------------------------------------------------------
Graham Gulf, Inc., submitted with the U.S. Bankruptcy Court for the
Southern District of Alabama, its objection to the fees, costs and
expenses of Dufour, Laskay & Strouse, Inc., as marine surveyors for
Wells Fargo.

Jeffery J. Hartley, Esq., at Helmsing, Leach, Herlong, Newman &
Rouse, P.C., in Mobile, Alabama, tells the Court that he received
an invoice for services rendered by Dufour at the direction of
Wells Fargo.  He further tells the Court that based on the
submitted invoice, the amounts claimed by Dufour appear to be
entirely for the Oct. 14, 2015 appraisal of the Debtor's fleet.

The Debtor objects to the reasonableness and necessity of the fees,
costs and expenses sought by Dufour.  It alleges that the value
added to the case by the services performed by Dafour has not been
established.  The Debtor contends that based on the current likely
sale value of the Debtor's assets, Wells Fargo is undersecured.
"As such, Dufour is not entitled to be immediately paid for the
work it performed on behalf of Wells Fargo," the Debtors further
contend.  The Debtors add that any work performed by Dufour was
done at the exclusive direction and for the exclusive benefit of
Wells Fargo.

The Debtor's objection is scheduled for hearing on April 12, 2016
at 08:30 a.m.

Graham Gulf, Inc., is represented by:

          Jeffery J. Hartley, Esq.
          Christopher T. Conte, Esq.
          HELMSING, LEACH, HERLONG, NEWMAN & ROUSE, P.C.
          Post Office Box 2767
          Mobile, AL 36652
          Telephone: (251)432-5521
          Facsimile: (251)432-0633
          E-mail: jjh@helmsinglaw.com
                  ctc@helmsinglaw.com

                      About Graham Gulf, Inc.

Founded in 1996, Graham Gulf, Inc. operates 11 fast supply vessels
designed specifically for providing a more efficient and
cost-effective support for field production operations and remote
drilling location services.

Graham Gulf filed Chapter 11 bankruptcy petition (Bankr. S.D. Ala.
Case No. 15-03065) on Sept. 18, 2015.  The petition was signed by
Janson Graham, the president and owner.  The Debtor estimated
assets and liabilities in the range of $10 million to $50 million.

Helmsing, Leach, Herlong, Newman & Rouse PC serves as the Debtor's
counsel.

Six creditors were appointed to Graham Gulf's official committee
of
unsecured creditors.  The creditors are Superior Shipyard &
Fabrication Inc., Thrustmaster of Texas Inc., American Supply LLC,
Safety Controls Inc., Force Power Systems LLC and United Power
Systems LLC.


GREAT LAKES COMNET: Committee Hires Jaffe Raitt as Local Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy cases of Great Lakes Comnet, Inc., and Comlink, L.L.C.,
seek authorization from the U.S. Bankruptcy Court for the Western
District of Michigan to retain Jaffe, Raitt, Heuer & Weiss, P.C.,
as local counsel to the Committee, nunc pro tunc to February 2,
2016.

The Committee says it has selected Jaffe as local counsel because
of the firm's extensive general experience and knowledge, and in
particular its recognized expertise in the field of debtor's and
creditors' rights, business reorganizations under Chapter 11 of the
Bankruptcy Code, and unsecured creditors committees' rights and
duties.

Cooley will be compensated at its standard hourly rates:

         Position     Hourly Rate
         --------     -----------
         Partners     $225 - $565
         Associates   $190 - $325
         Paralegals   $100 - $205

The Firm will also be reimbursed for their reasonable and necessary
out-of-pocket expenses.

Judith Greenstone Miller, Esq., a partner at the Firm, assures the
Court that Jaffe does not represent any entity other than the
Committee in connection with the Debtors' cases.  She adds that
Jaffe is disinterested, as defined under Section 101(14) of the
Bankruptcy Code and does not hold or represent an interest adverse
to the Debtors' estates in the matters upon which Jaffe is to be
employed, as local counsel to the Committee.

Jaffe can be reached at:

          Judith Greenstone Miller, Esq.
          JAFFE RAITT HEUER & WEISS, P.C.
          27777 Franklin Road, Suite 2500
          Southfield, MI 48034
          Telephone: (248)351-3000
          Facsimile: (248)351-3082
          E-mail: jmiller@jaffelaw.com

                    About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.

The United States Trustee for Region 9 has appointed seven members
to the Official Committee of Unsecured Creditors in the Chapter 11
cases of Great Lakes Comnet, Inc., and its debtor affiliates.


GREAT LAKES COMNET: Creditors' Committee Taps Cooley as Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy cases of Great Lakes Comnet, Inc., and Comlink, L.L.C.,
seek authorization from the U.S. Bankruptcy Court for the Western
District of Michigan to retain Cooley LLP as lead counsel, nunc pro
tunc to February 2, 2016.

As the Creditors Committee's lead counsel, Cooley will:

   (a) attend the meetings of the Committee;

   (b) review financial and operational information furnished by
       the Debtors to the Committee;

   (c) assist in the efforts to sell assets of the Debtors in a
       manner that maximizes the value for creditors;

   (d) review and investigate prepetition transactions in which
       the Debtors and their insiders were involved;

   (e) analyze and negotiate any proposed sale, plan or exit
       strategy in these cases;

   (f) confer with the Debtors' management, counsel and financial
       advisors;

   (g) review the Debtors' schedules, statements of financial
       affairs and business plan;

   (h) advise the Committee as to the ramifications regarding all
       of the Debtors' activities and motions before the Court;

   (i) review and analyze the Debtors' work product of the
       Debtors' investment bankers and financial advisors;

   (j) provide the Committee with legal advice in relation to the
       Chapter 11 cases;

   (k) prepare various applications and memoranda of law
       submitted to the Court for consideration; and

   (l) prepare other legal services for the Committee as may be
       necessary or proper in this proceeding.

The current hourly rates of Cooley are:

                                           Standard
      Attorney              Position      Hourly Rate
      --------              --------      -----------
      Cathy Hershcopf       Partner           $995
      Jason Koral           Partner           $865
      Seth Van Aalten       Partner           $835
      Michael Klein         Associate         $800
      Max Schlan            Associate         $630
      David Bright          Associate         $560
      Rebecca Goldstein     Paralegal         $320

Cooley will charge the Committee for all charges and disbursements
incurred in rendering services to the Committee.

Cathy Hershcopf, Esq., a partner at Cooley, assures the Court that
the Firm is a "disinterested person," as that term is defined in
Section 101(14) of the Bankruptcy Code.

Cooley can be reached at:

          Cathy Hershcopf, Esq.
          COOLEY LLP
          The Grace Building
          1114 Avenue of the Americas
          New York, NY 10036-7798
          Telephone: (212) 479-6138
          Facsimile: (212) 479-6275
          E-mail: chershcopf@cooley.com

                    About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.

The United States Trustee for Region 9 has appointed seven members
to the Official Committee of Unsecured Creditors in the Chapter 11
cases of Great Lakes Comnet, Inc., and its debtor affiliates.


GREAT LAKES COMNET: U.S. Trustee Appoints 7-Member Committee
------------------------------------------------------------
Daniel M. McDermott, United States Trustee for Region 9, appoints
the following persons to the Official Committee of Unsecured
Creditors in the Chapter 11 cases of Great Lakes Comnet, Inc., and
its debtor affiliates:

   (1) AT&T Corp.
       c/o James W. Grudus, Esq.
       One AT&T Way, Room 3A115
       Bedminster, NJ 07921
       (908) 234-3318
       Fax: (832) 213-0157
       Email: jg5786@att.com

   (2) MLW Sales, LLC
       c/o Thomas Davis
       3696 Chestnut Lane
       Dryden, MI 48428
       (810) 287-7812
       Email: tdavis@fiberlinkinc.com

   (3) TK Communications
       c/o Karl Wuestenberg
       3529 W. Genesee Rd., Ste. 6
       Lapeer, MI 48446
       (517) 927-4022
       Fax: (810) 667-3120
       Email: karlw@fiberlinkinc.com

   (4) Merit Network, Inc.
       c/o Joseph Sawasky
       1000 Oakbrook Dr., Ste. 200
       Ann Arbor, MI 48104
       (734) 527-5700
       Fax: (734) 527-5790
       Email: sawasky@merit.edu

   (5) AVS
       c/o Ed Eichler and Ray Leppien
       7585 Pigeon Rd.
       P.O. Box 650
       Pigeon, MI 48755
       (989) 453-4391
       Fax: (989) 453-3322
       Email: eeichler@avci.net
              rleppien@avci.net

   (6) Buist Electric Inc.
       c/o Scott Bishop
       8650 Byron Center Ave. SW
       Byron Center, MI 49315
       (616) 583-5209
       Fax: (616) 878-0872
       Email: sbishop@buistelectric.com

   (7) ACD.NET (Keps Technologies)
       c/o Kirk Shewchuck
       1800 N. Grand River
       Lansing, MI 48906
       (517) 999-3244
       Fax: (517) 999-3993
       Shewchuck.kirk@acd.net

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense. They may investigate the debtor's business and financial
affairs. Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

The Committee tapped Cooley LLP as lead counsel, Jaffe, Raitt,
Heuer & Weiss, P.C., as local counsel, and O'Keefe & Associates
Consulting LLC as financial advisor.

The U.S. Trustee is represented by:

        Michelle M. Wilson
        Trial Attorney
        Office of the United States Trustee
        United States Department of Justice
        125 Ottawa NW, Suite 200R
        Grand Rapids, Michigan 49503
        (616) 456-2002, ext. 119

                    About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GREAT LAKES: Has Final Court OK to Borrow $5.5-Mil. from CoBank
---------------------------------------------------------------
Judge John T. Gregg of the U.S. Bankruptcy Court for the Western
District of Michigan gave Great Lakes Comnet, Inc. and Comlink,
L.L.C., final authority to borrow and obtain credit from CoBank,
ACB, an aggregate principal amount of up to $5,500,000.

The Debtors are also authorized to use the DIP Lender and
Prepetition Senior Lender's Cash Collateral in the ordinary course
of their businesses to pay amounts in accordance with the Budget
plus any Permitted variance of not more than $500,000 from the
Projected Cash Flows before the DIP Financing.

The DIP Approval Orders also provide for a "Carve-Out" for: (a)
unpaid fees of the Clerk of the Court and the U.S. Trustee, (b)
unpaid fees and expenses of professionals of the Debtors and the
Committee, (c) any success fee under the Budget that may become due
to Media Venture Partners, LLP, (d) any success fee that may become
due to John Summersett, (e) a success fee under the Budget that may
become due to Gordon Schreur in the amount of $75,000, (f) an
amount not to exceed $927,661 to pay administrative expenses
incurred after the closing of a sale of substantially all of the
Debtors' assets, and (g) fees and expenses of any Chapter 7 Trustee
and any Chapter 7 professionals in an aggregate amount not to
exceed  $25,000.  

Finally, the DIP Lender will allow up to $25,000 of fees to be paid
from the proceeds of the Postpetition Loans to the Committee’s
Professionals for the research, review, analysis, investigation,
initiation, prosecution or pursuit of any claim or cause of action
of any kind or nature whatsoever against the DIP Lender.

Judge Gregg further ordered that any objections to the Motion,
including the objection raised by the Official Committee of
Unsecured Creditors, that have not been withdrawn or resolved are
denied and overruled.

The Committee said that while it supports the Debtors' sale of
substantially all of their assets and recognizes the Debtors' need
for liquidity to administer the proposed sale process, the
Committee objected to the unreasonable restrictions on its ability
to investigate and challenge the Debtors' stipulations regarding
the prepetition liens, claims and conduct of CoBank.  The Debtors
alleged that they have been informed by CoBank that it is unwilling
to continue to provide financing under the uncertainty of future
litigation for more than 60 days especially since the Committee and
CoBank has already agreed for an expedited discovery schedule,
thus, 60 days should be enough time.  

The Committee also objected to the grant of liens and superpriority
claims on previously unencumbered assets of the Debtors asserting
that secured creditors are only entitled to adequate protection to
the extent of the anticipated or actual decrease in value of the
secured collateral during the bankruptcy case. The Debtor argue
that the grant of an adequate protection lien is appropriate for
Section 361(2) specifically authorizes an "additional or
replacement lien" to the extent that the property interest of the
Debtors is not subject to CoBank’s Prepetition Lender's Lien.

Great Lakes Comnet, Inc. and Comlink, L.L.C. are represented by:

     Jonathan S. Green, Esq.
     Stephen S. LaPlante, Esq.
     MILLER, CANFIELD, PADDOCK AND STONE, PLC
     150 West Jefferson, Suite 2500
     Detroit, MI 48226
     Telephone: (313) 963-6420
     Email: green@millercanfield.com
            laplante@millercanfield.com

The Official Committee of Unsecured Creditors is represented by:

     Judith Greenstone Miller, Esq.
     Jay L. Welford, Esq.
     JAFFE, RAITT, HEUER & WEISS, P.C.
     27777 Franklin Road, Suite 2500
     Southfield, MI 48034
     Telephone: (248) 351-3000
     Facsimile: (248) 351-3082
     Emails: jmiller@jaffelaw.com
             jwelford@jaffelaw.com  

     -- and --  
  
     Cathy Hershcopf, Esq.
     Seth Van Aalten, Esq.
     COOLEY LLP
     1114 Avenue of the Americas
     New York, New York 10036
     Telephone: (212) 479-6000
     Facsimile: (212) 479-6275
     Email: chershcopf@cooley.com
            svanaalten@cooley.com

          About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacentre
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem transport
services provided by GLC and Westphalia Telephone Company – to
send long distance calls from the network of one telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GUIDED THERAPEUTICS: Issues Letter to Shareholders
--------------------------------------------------
Guided Therapeutics, Inc. released on March 31, 2016, the following
letter to shareholders.

Dear Fellow Shareholders,

Thank you for your support of Guided Therapeutics and recognition
of the tremendous opportunity that lies ahead of us.  I wanted to
share with you in detail what we are doing to create a prosperous
business with a positive contribution in the global healthcare
world.

In late 2014, we began a refocus of the LuViva Advanced Cervical
Scan from a niche gynecology product designed for triage in the
U.S. and European Women's Healthcare market to one that would
address the problem of cervical cancer worldwide.  The screening
market is six times larger than the triage market and has a real
and urgent need.  It also opens up the opportunity to gain access
to large segments of the population in the developing world by
working with local and national governments.  To date, we have
shipped LuVivas to 22 countries and have distributors covering 58
nations. So we have plenty of opportunity for growth within our
existing network.

Screening for cervical cancer offers one of the largest
opportunities available in diagnostic medicine.  Our market
opportunity for screening is so large because unlike most
diagnostic tests, we're testing the entire female population,
including women who appear healthy and not just patients presenting
with symptoms of the disease.  A woman becomes "at risk" for
cervical cancer after becoming sexually active, and cervical cancer
is linked to a sexually transmitted disease -- human papillomavirus
(HPV).  In the developing world, our main focus, there are
approximately 2.0 billion women aged 15 and older who are
potentially eligible for screening with LuViva.

According to the study Cervical Cancer Diagnostic Tests Market --
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2014 -- 2020[1], the market for cervical cancer diagnostic tests is
on track to reach $8.9 billion by 2020, up from $5.9 billion in
2013, with a 6.10% CAGR expected in 2014-2020.

LuViva Advantages and Benefits

  * The LuViva is like no other screening product in the world.
    LuViva scans the entire cervix with light and uses
    spectroscopy to detect early signs of cancer, when it is most
    effectively treated.  For the first time, women can obtain
    reliable results from cervical cancer screening within minutes

    instead of having to wait for days, or even weeks, to know if
    they are healthy.  Because of its unique design, LuViva is
    portable.  It can travel to all parts of the world.  Moreover,
    it is economic to use. Just one device can scan dozens of
    women a day without requiring uncomfortable tests and
    extensive and expensive laboratory systems.  The simplicity of

    its design permits operation by nurses and technicians and
    does not require extensive training.  This is another cost  
    saving that makes it extremely attractive.  This is a
    revolutionary change in women's reproductive healthcare.

Some of LuViva's Key Advantages:

  * Doesn't require a doctor

  * Doesn't take a tissue sample

  * Doesn't need a laboratory

  * Gives an immediate result at the Point of Care

Business Model

Our business model for LuViva is the familiar razor/razor blade
one.  Each LuViva scan requires a single-patient-use disposable,
called a Cervical Guide.  Most commonly, the LuViva device is sold
as capital equipment, with continuing revenue from sales of the
disposables.  The margin for our disposables is 80%, which makes
this a very attractive business.

Since the Cervical Guide is critical to our business, we have
developed anti-counterfeiting and anti-reuse measures employed on
each one.  Each disposable carries an RFID chip that signals LuViva
before each use, insuring against reuse and the use of knock-offs.

Our Opportunity: We Begin With Developing Markets

We believe the largest and most immediate market opportunities for
LuViva lie in partnering with governments in the developing world
where the infrastructure to support a laboratory-based screener
such as the Pap test or HPV is not available or is limited.
According to a study conducted at Brown University, more than 80%
of cases and cervical cancer-related deaths globally occur in the
developing world and fewer than 5% of women are screened for
cervical cancer.[2]  Because these nations often operate with
limited healthcare budgets and struggle to provide preventive
measures, the highly cost-effective nature of the LuViva makes it
particularly attractive to developing countries, and we are having
significant success in these markets.

Our first success in implementing this strategy is Turkey, where we
have shipped 33 LuViva devices and approximately 48,000 disposable
Cervical Guides.  We have commitments from our distributor to
double the number of Cervical Guides and ship an additional 35
LuVivas in the first half of 2016.

This is a major achievement for a company of any size with a
revolutionary, new medical product, so for an emerging growth
company like Guided Therapeutics, it is all the more so.  We, along
with our distributor, have worked long and hard on this deal.  It
demonstrates the time and effort required to secure government
contracts.  Given the significant returns, it is something that we
believe we should continue to focus on.

We believe that our next major market opportunities are in Africa
and Southeast Asia, where we are working with our distributors to
partner with governments to become integrated into national
screening programs:

   In Kenya -- In January 2016, the Nairobi County Health Services
Sector agreed to purchase an additional five LuVivas for use in the
agency's cervical cancer screening program. We expect to ship those
units by the end of the first quarter.  This brings to six the
number of LuVivas purchased by Nairobi County, with an additional
seven units planned for purchase in 2016. When fully implemented,
the County will have the capacity to screen more than 144,000 women
per year.  The United Nations World Health Organization indicates
that only 3.2% of women aged 18-69 in Kenya are screened for
cervical cancer every three years versus 70% of women in the
developed world.  So there is plenty of opportunity for growth in
Kenya, and the National Screening program is our next target
market.

    In Nigeria -- We are encouraged that the newly appointed
Minister of Health for Nigeria, Professor Issac Adewole, M.D., is
an early proponent of the benefits of using LuViva.  He has also
performed a favorable clinical study using LuViva and published the
data prior to being appointed as Minister of Health for Nigeria.
We have sold six units to Nigeria and expect to be included in a
national screening program once the new annual budget is approved.

    In Indonesia -- We recently announced shipments of the LuViva
to Indonesia, the fourth most populous country in the world. We
have shipped six units to Indonesia to date.  We have several
studies underway with leading doctors there.

    In Bangladesh -- We hope to expand to about 60 medical
facilities nationwide after a successful pilot program. In
Bangladesh, cervical cancer is the leading cancer among women. We
have already sold eight LuVivas to the government.

In addition, we are working in about a half dozen other developing
countries around the world to establish LuViva as a primary tool
for screening for cervical cancer.

Our Opportunity in More Developed Countries

LuViva can also help solve a problem in more developed countries
that have organized cervical cancer screening programs.  Screening
programs have greatly reduced the number of cases of cervical
cancer. However, an unintended consequence of the success of these
screening programs is that they often lead to over-testing and
over-treatment that is expensive and places unnecessary physical
and emotional stress on women and their families.  LuViva is
designed to complement the current standard of care to reduce
unnecessary testing and thereby lower costs and minimize
unwarranted emotional distress.

The largest single market for this particular application of LuViva
is by far the U.S. We are very encouraged by our recent discussions
and meeting with the U.S. Food and Drug Administration (FDA)
towards bringing LuViva to market.  We met with the FDA in November
2015, along with two leading U.S. OBGYN advocates of LuViva, and we
believe we have reached a general agreement on a plan for
submitting an approvable application.  Our next steps are to submit
a clinical protocol for collecting the additional patient data.
Once the protocol is finalized, we will conduct the study, analyze
the data and present the results to the agency for review.
However, it's important to note that the approval process for a
product like LuViva that employs new technology can take years. We
will continue to work to get LuViva approved in its home country to
augment approvals -- and opportunities -- in Europe, Canada and
Mexico.

With respect to using LuViva as a triage device, we are working
with the right thought leaders to have LuViva included in the
standard of care in markets where we have approval, at the same
time as we make progress to obtain approval in the U.S.

While it takes time to develop screening market opportunities with
new technology, once a foothold is established, the growth can be
quick.  Exact Sciences was started in 1995 to develop a screening
test for colon cancer.  Revenue in Q1 of 2014 was $300,000 but grew
to $12.6 million in Q3 2015.

Record Sales to Date -- But That's Just the Beginning

We are enjoying tremendous momentum as our strategy to target
developing markets bears fruit.  We have sold more than 90 LuVivas
and approximately 40,000 Cervical Guides since product
introduction, with 30% of Cervical Guide sales recorded in the
fourth quarter of 2015. In 2016, we expect to generate orders of $3
million to $5 million for the full year.  If we are successful in
our endeavors to convert markets to LuViva for primary screening,
there is the opportunity for exponential growth over the coming
years.

Enhanced Financial Flexibility

Our goal is to generate as much operating capital as possible
through non-dilutive means such as product revenue, territory
licensing fees and royalty payments, partnering with large
multinational companies, contracts with non-governmental
organizations and assuming debt at a reasonable cost.  We are also
managing expenses closely and have reduced our burn rate from
approximately $3.2 million per quarter in 2014 to approximately
$1.8 million -- a reduction of more than 40%. We are also covering
a larger percentage of our burn rate with revenue from LuViva
sales.

We believe that the future of the company is bright, and, with your
continued support, we will achieve our mutual goals of having a
profound and positive effect on women's healthcare and financial
success.

Sincerely,

/s/ Gene Cartwright

Chief Executive Officer

                  About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

Guided Therapeutics reported a net loss attributable to common
stockholders of $9.50 million on $42,000 of contract and grant
revenue for the year ended Dec. 31, 2015, compared to a net loss
attributable to common stockholders of $10.03 million on $65,000 of
contract and grant revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Guided Therapeutics had $2.56 million in total
assets, $8.12 million in total liabilities and a $5.56 million
total stockholders' deficit.


HAGGEN HOLDINGS: Seeks $68-Mil. Refinance of DIP Facility
---------------------------------------------------------
Haggen Holdings, LLC and its affiliated Debtors ask the U.S.
Bankruptcy Court for the District of Delaware, for authorization to
refinance their existing DIP Facility.

The Debtors had entered into a Debtor-In-Possession Revolving
Credit and Security Agreement with PNC Bank, National Association
as Agent and the lenders party thereto ("Existing DIP Facility"),
which provided them with a revolving loan facility in a maximum
aggregate amount of up to $215,000,000 secured by valid, binding,
enforceable, non-avoidable and perfected liens on and security
interests in substantially all of the Debtors' assets.  The Court
approved the relief requested in the Existing DIP Motion on a final
basis, in its October 15, 2015 Final DIP Order.  The terms of the
Existing DIP Facility were subsequently amended from time to time.

The Proposed Amended DIP Facility contains, among others, the
following relevant terms:

     (a) Borrowers: Haggen, Inc., Haggen Opco South, LLC and Haggen
Opco North, LLC.

     (b) Guarantors: Haggen Operations Holdings and Haggen
Acquisition LLC.

     (c) Replacement DIP Lender: Albertson's LLC or its designee.

     (d) Replacement DIP Agent: Albertson's LLC or its designee

     (e) Amounts and Availability: The Amended DIP Facility will be
a single draw term loan facility in an aggregate principal amount
of $68 million ("DIP Term Loan") to be made available to the
Debtors to (i) repay the outstanding balance of the existing
post-petition revolving loan, together with accrued but unpaid
interest, fees and expenses, and to cash collateralize an
outstanding letter of credit issued pursuant to the Existing DIP
Facility, (ii) to pay fees, expenses and other amounts related to
the financing contemplated by the DIP Commitment Letter, and (iii)
to fund the Debtors' ongoing working capital requirements,
including, without limitation, the fees, costs and expenses of the
Bankruptcy Case, in each case, pursuant to a budget in form and
substance satisfactory to the Replacement DIP Agent.

     (f) Interest: 5.0% per annum, payable in monthly arrears

     (g) Default Interest: 7.0% per annum at any time that an event
of default has occurred and is continuing, payable upon demand.

     (h) Facility Fee: 2.0% of the amount of the DIP Term Loan (or
$1,360,000), which will be fully earned on the Closing Date, and of
which $325,000 will be due and payable on the Closing Date, and the
balance shall be due and payable on the Maturity Date or the
earlier prepayment in full of the outstanding principal balance of
the DIP Term Loan.

The Debtors contend that their ability to maintain business
relationships with their vendors, suppliers, landlords and
customers, to pay their employees and to otherwise fund their
operations is essential to the Debtors' continued viability.  The
Debtors further contend that their ability to obtain sufficient
working capital and liquidity through the Amended DIP Facility is
vital to the preservation and maximization of the value of the
Debtors' currently operating businesses and the consummation of the
Albertson's Sale.  

Haggen Holdings, LLC, and its affiliated debtors are represented
by:

          Matthew B. Lunn, Esq.
          Robert F. Poppiti, Jr., Esq.
          Ian J. Bambrick, Esq.
          Ashley E. Jacobs, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1256
          E-mail: mlunn@ycst.com
                  rpoppiti@ycst.com
                  ibambrick@ycst.com
                  ajacobs@ycst.com

               - and -

          Frank A. Merola, Esq.
          Sayan Bhattacharyya, Esq.
          Elizabeth Taveras, Esq.
          STROOCK & STROOCK & LAVAN LLP
          180 Maiden Lane
          New York, NY 10038
          Telephone: (212)806-5400
          Facsimile: (212)806-6006
          E-mail: fmerola@stroock.com
                  sbhattacharyya@stroock.com

                8th Amendment to Credit Agreement


Haggen Holdings, LLC, et al., won approval from the Bankruptcy
Court to enter into an Eight Amendment to the Debtor-In-Possession
Revolving Credit and Security Agreement with PNC Bank, National
Association as agent for the lenders.

On Oct. 15, 2015, the Court entered a final order authorizing the
Debtors to obtain postpetition financing in accordance with the DIP
Credit Agreement.  The Debtors secured financing of up to $215
million from PNC Bank, National Association, in its capacity as
agent.

According to the 8th Amendment, Section 10.7(gg) was deleted in its
entirety and replaced as follows:

          (gg) the Loan Parties fail to, (i) on or before March 14,
2016, (A) file a motion in form and substance acceptable to Agent
and Required Lenders with the Bankruptcy Court requesting approval
of replacement debtor-in-possession financing, and (B) deliver to
Agent a commitment letter from Albertsons LLC, in form and
substance acceptable to Agent and Required Lenders, for such
replacement debtor-in-possession financing; or (iii) on or before
March 18, 2016, deliver to Agent an executed Asset Purchase
Agreement with Albertsons, LLC in form and substance acceptable to
Agent and Required Lenders, with respect to the Core Stores Sale.

A full-text copy of the Order, dated March 15, 2016, is available
at http://is.gd/Qmljpg

                    About Haggen Holdings, LLC

Headquartered in Bellingham, Washington, Haggen was founded in 1933
as a single grocery store.  From 1933 to 2014, Haggen grew into a
30 store family-run grocery chain, with stores located in the
northwestern United States.  From 2011 to 2014, Haggen reduced its
store base to 18, including a stand-alone pharmacy location.

Haggen rapidly expanded in 2014 and 2015, and, as of the Petition
Date, Haggen owned and operated 164 stores through three operating
companies: Haggen, Inc., Haggen Opco North, LLC and Haggen Opco
South, LLC.

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015, with the intention of reorganizing, or
selling as a going concern, their stores for the benefit of their
creditors.

The petitions were signed by Blake Barnett, the chief financial
officer.

The Debtors estimated assets of $50 million to $100 million and
estimated liabilities of $10 million to $50 million.

Young, Conaway, Stargatt & Taylor, LLP, is serving as the Debtors'
local counsel.  Stroock & Stroock & Lavan LLP serves as the
Debtors' general counsel.  Alvarez & Marsal North America, LLC,
acts as the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC serves as the Debtors' claims and noticing agent.

In September 2015, T. Patrick Tinker, assistant U.S. trustee for
Region 3, appointed seven creditors to the official committee of
unsecured creditors.


HANCOCK FABRICS: Court Okays GOB Sales for 185 Outlets
------------------------------------------------------
The U.S. Bankruptcy Court approved Hancock Fabrics' motion for an
order approving the sale of assets free and clear of all liens,
claims, encumbrances and other interests (pursuant to agency
agreement with Great American Group [GA]) and granting related
relief, BankruptcyData reported.  

The order states, "As confirmed on the record of the Sale Hearing,
Great American Group, LLC has represented and warranted to the
Debtors and their estates that the Agent has the resource and
ability to comply with and will perform the terms, conditions and
obligations contained in the Agency Agreement."

GA, a subsidiary of B. Riley Financial, was the highest bidder in
the bankruptcy auction for the assets and will manage the
going-out-of-business sales for 185 Hancock Fabrics stores
beginning on April 1, 2016, the report said. The sales are expected
to last several weeks before all of the merchandise is sold.

                       About Hancock Fabrics

Hancock Fabrics, Inc., is a specialty fabric retailer operating
stores under the name "Hancock Fabrics".  Hancock has 4,500
full-time and part time employees.  The Baldwyn, Mississippi-based
company is one of the largest fabric retailers in the United
States, operating 260 stores in 37 states as of October 31, 2015
and an internet store under the domain name
http://www.hancockfabrics.com/     

Hancock Fabrics, Inc. and six of its affiliates, retailer of
fabric, sewing and accessories, filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10296 to 16-10302) on Feb.
2, 2016.  Dennis Lyons, the senior vice president and chief
administrative officer, signed the petitions.  Judge Brendan
Linehan Shannon is assigned to the jointly administered cases.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Richards, Layton & Finger, P.A., as local counsel, Clear Thinking
Group LLC as financial advisor, Retail Consulting Services, Inc.
d/b/a Real Estate Advisors as real estate advisors and Kurtzman
Carson Consultants, LLC as claims and noticing agent.

The Debtors disclosed total assets of $151.4 million and total
debts of $182.1 million.  The Debtors owe its trade vendors
approximately $21.2 million as of Jan. 31, 2016.


HEMCON MEDICAL: Court to Hold Hearing on Asset Sale April 6
-----------------------------------------------------------
The U.S. Bankruptcy Court in Oregon is set to hold a hearing on
April 6 to consider the sale of almost all assets of HemCon Medical
Technologies Inc.

The company has proposed to sell its assets to Tricol International
Group Limited or to another buyer making a better offer.

Tricol, which offered approximately $3.6 million for the assets,
will serve as the stalking horse bidder.

HemCon has decided to conduct a sale of its assets prior to
approval of a restructuring plan out of concern that it won't be
able to sustain its operations during a plan process, according to
court filings.

                 About HemCon Medical Technologies

HemCon Medical Technologies, Inc., began operations in 2001 and
today brings advanced wound care technologies to the worldwide
healthcare market.

HemCon Medical previously filed a Chapter 11 bankruptcy on April
10, 2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on May
6, 2013, and the Final Decree was entered and the case was closed
on Nov. 20, 2013.

HemCon Medical again filed for Chapter 11 bankruptcy (Bankr. D.
Ore. Case No. 16-30119) on Jan. 15, 2016.  The petition was signed
by Michael Wax as president and CEO.

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

Tonkon Torp LLP serves as counsel in the new Chapter 11 case.


HHH CHOICES: Court Approves Alston & Bird as Committee Counsel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of HHH Choices Health
Plan, LLC sought and obtained permission from the U.S. Bankruptcy
Court for the District of New York to retain Alston & Bird LLP as
counsel to the Committee.

In addition to acting as primary spokesperson for the Committee,
Alston & Bird's services will include, without limitation,
assisting, advising, and representing the Committee with respect to
the following matters:

   (a) the administration of this case and the exercise of
       oversight with respect to the Debtor's affairs including
       all issues arising from or impacting the Debtor or the
       Committee in this chapter 11 case;

   (b) the preparation on behalf of the Committee of all necessary

       applications, motions, orders, reports, and other legal
       papers;

   (c) appearances in this Court to represent the interests of the

       Committee;

   (d) the negotiation, formulation, drafting, and confirmation of

       any plan of reorganization or liquidation and matters
       related thereto;

   (e) the exercise of oversight with respect to any transfer,
       pledge, conveyance, sale, or other liquidation of the
       Debtor's assets;

   (f) such investigation as the Committee may desire concerning,
       among other things, the assets, liabilities, financial
       condition, and operating issues concerning the Debtor that
       may be relevant to this case;

   (g) such communication with the Committee's constituents and
       others as the Committee may consider desirable in
       furtherance of its responsibilities; and

   (h) the performance of all of the Committee's duties and powers

       under the Bankruptcy Code and the Bankruptcy Rules or as
       may be ordered by the Court.

Alston & Bird will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Martin G. Bunin, member of Alston & Bird, 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.

Alston & Bird can be reached at:

       Martin G. Bunin, Esq.
       ALSTON & BIRD LLP
       90 Park Avenue
       New York, NY 10016
       Tel: (212) 210-9400
       Fax: (212) 210-9444
       E-mail: marty.bunin@alston.com

                      About HHH Entities

Three alleged creditors owed about $1.9 million submitted an
involuntary Chapter 11 petition for HHH Choices Health Plan, LLC
on May 4, 2015 (Bankr. S.D.N.Y. Case No. 15-11158) in Manhattan.

The petitioners are The Royal Care, Inc., (allegedly owed
$772,762), Amazing Home Care Services ($1,178,752), and InterGen
Health LLC ($42,298), all claiming that they are owed by the
Debtor for certain services rendered.  They all tapped Marc A.
Pergament, Esq., at Weinberg, Gross & Pergament, LLP, in Garden
City, New York, as counsel.

With the consent from the board of directors, HHH Choices filed a
notice of consent to order for relief on June 1, 2015, and an
order for relief was entered on June 22, 2015.  HHH Choices was
engaged in operating a managed long-term care program ("MLTCP").
HHH Choices, which essentially was a health insurance maintenance
plan, sold its business in 2015.

On Dec. 9, 2015, Hebrew Hospital Senior Housing, Inc., commenced a
Chapter 11 case (Bankr. S.D.N.Y. Case No. 15-13264).  HHSH is
engaged in the sponsorship and operation of a 120-unit continuing
care retirement community ("CCRC") with ancillary components
consisting of; a 20 bed skilled nursing facility ("SNF"), which
includes an adult day healthcare program ("ADHCP"), and a 10-bed
enriched housing unit. These programs are commonly known as,
Westchester Meadows and Fieldstone.

On Jan. 8, 2016, Hebrew Hospital Home of Westchester, Inc.
commenced a Chapter 11 Case (Case No. 16-10028).  HHHW's
predecessor, Hebrew Hospital Home, Inc. owned and operated a
480-bed skilled nursing facility located in the Bronx.  In 1998,
HHHW opened a new 160-bed facility situated at 61 Grasslands Road,
Valhalla, New York.  HHHW sold the Bronx SNF in 2007 and the
Westchester SNF in mid-2015.  HHHW no longer has any active
business operations.  However, it still has responsibilities to
wind-up its affairs, including finishing any remaining billing and
processing, filing reports with regulatory agencies and closing
its books and records.  The true-up process and final
reconciliation with the purchasers of the Westchester SNF is
incomplete.

The Debtors sought and obtained an order directing joint
administration of their cases under Case No. 15-11158.

Judge Michael E. Wiles oversees the cases.

Mary Frances Barrett is president of all of the Debtors.

The Debtors tapped Harter Secrest & Emery LLP as counsel and
Getzler Henrich & Associates LLC as financial advisor.



HHH CHOICES: Patient Care Ombudsman Taps Gibbons as Counsel
-----------------------------------------------------------
David N. Crapo, the patient care ombudsman appointed in the
bankruptcy case of Hebrew Hospital Senior Housing, Inc. and its
debtor-affiliates, asks permission from the U.S. Bankruptcy Court
for the Southern District of New York to employ Gibbons P.C. as
counsel, nunc pro tunc to January 15, 2016.

The professional services that the Ombudsman expects that Gibbons
may be called upon to render include, but shall not be limited to,
the following:

   (a) representing the Ombudsman in any proceeding or hearing in
       the Bankruptcy Court, and in any action in other courts
       where the rights of the patients may be litigated or
       affected as a result of the bankruptcy case;

   (b) advising the Ombudsman concerning the requirements of the
       Bankruptcy Code and Bankruptcy Rules and the requirements
       of the Office of the United States Trustee relating to the
       discharge of his duties under Section 333 of the Bankruptcy

       Code;

   (c) advising and representing the Ombudsman concerning any
        potential reorganization or sale of the Debtors' assets;
        and

   (d) performing other legal services as may be required
       under the circumstances of this case in accordance with the

       Ombudsman's powers and duties as set forth in the
       Bankruptcy Code.

Gibbons has advised the Ombudsman that the current hourly rates
applicable to the principal attorneys and paralegals proposed to
represent the Ombudsman are as follows:

       David N. Crapo, Esq.              $525
       Brett S. Theisen, Esq.            $385
       Ellen Rosen, Senior Paralegal     $255

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

David Crapo 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.

Gibbons can be reached at:

       David N. Crapo, Esq.
       GIBBONS P.C.
       One Gateway Center
       Newark, NJ 07102-5310
       Tel: (973) 596-4523
       Fax: (973) 639-6244
       E-mail: dcrapo@gibbonslaw.com

                      About HHH Entities

Three alleged creditors owed about $1.9 million submitted an
involuntary Chapter 11 petition for HHH Choices Health Plan, LLC
on May 4, 2015 (Bankr. S.D.N.Y. Case No. 15-11158) in Manhattan.

The petitioners are The Royal Care, Inc., (allegedly owed
$772,762), Amazing Home Care Services ($1,178,752), and InterGen
Health LLC ($42,298), all claiming that they are owed by the
Debtor for certain services rendered.  They all tapped Marc A.
Pergament, Esq., at Weinberg, Gross & Pergament, LLP, in Garden
City, New York, as counsel.

With the consent from the board of directors, HHH Choices filed a
notice of consent to order for relief on June 1, 2015, and an
order for relief was entered on June 22, 2015.  HHH Choices was
engaged in operating a managed long-term care program ("MLTCP").
HHH Choices, which essentially was a health insurance maintenance
plan, sold its business in 2015.

On Dec. 9, 2015, Hebrew Hospital Senior Housing, Inc., commenced a
Chapter 11 case (Bankr. S.D.N.Y. Case No. 15-13264).  HHSH is
engaged in the sponsorship and operation of a 120-unit continuing
care retirement community ("CCRC") with ancillary components
consisting of; a 20 bed skilled nursing facility ("SNF"), which
includes an adult day healthcare program ("ADHCP"), and a 10-bed
enriched housing unit. These programs are commonly known as,
Westchester Meadows and Fieldstone.

On Jan. 8, 2016, Hebrew Hospital Home of Westchester, Inc.
commenced a Chapter 11 Case (Case No. 16-10028).  HHHW's
predecessor, Hebrew Hospital Home, Inc. owned and operated a
480-bed skilled nursing facility located in the Bronx.  In 1998,
HHHW opened a new 160-bed facility situated at 61 Grasslands Road,
Valhalla, New York.  HHHW sold the Bronx SNF in 2007 and the
Westchester SNF in mid-2015.  HHHW no longer has any active
business operations.  However, it still has responsibilities to
wind-up its affairs, including finishing any remaining billing and
processing, filing reports with regulatory agencies and closing
its books and records.  The true-up process and final
reconciliation with the purchasers of the Westchester SNF is
incomplete.

The Debtors sought and obtained an order directing joint
administration of their cases under Case No. 15-11158.

Judge Michael E. Wiles oversees the cases.

Mary Frances Barrett is president of all of the Debtors.

The Debtors tapped Harter Secrest & Emery LLP as counsel and
Getzler Henrich & Associates LLC as financial advisor.



HIGH RIDGE: Gets Court Approval to Pay 2015 Income Tax
------------------------------------------------------
High Ridge Management Corp. received court approval to pay its
income tax liabilities estimated for 2015.

The order, issued by U.S. Bankruptcy Judge John Olson, allowed the
company to pay more than $8.06 million to the U.S. State Department
of the Treasury and the Florida Department of Revenue.

High Ridge had earlier withdrawn its requests to approve an
intercompany advance from Hollywood Hills Rehabilitation Center LLC
to the company; and to force Jon Steinmeyer, the receiver, to
provide the details of income received and expenses paid for 2015.

                About Hight Ridge Management Corp.

High Ridge Management Corp., Hollywood Pavilion and Hollywood Hills
Rehabilitation Center LLC, sought for Chapter 11 protection (Bankr.
S.D. Fla. Lead Case No. 15-16388) on April 8, 2015.  

High Ridge is the landlord of Pavilion and Hollywood Hills.  High
Ridge is the 100 percent owner of the membership interests in
Hollywood Hills and Pavilion.  Prior to Jan. 14, 2014, when a
receiver was appointed, High Ridge managed the operations for
Pavilion and Hollywood Hills.

The Hon. John K. Olson presides over the jointly administered
cases.  

The Debtors tapped Grace E. Robson, Esq., at Markowitz Ringel
Trusty & Hartog, P.A., in Fort Lauderdale, Florida, as their
counsel, and Bayshore Partners, LLC as their investment banker.

Clarence Lamont Davidson, Jr., Davidson Collins and Joyce CPA, LLC
serve as the Debtors' accountants.  Meanwhile, Nancy M. Ridenour
and PDR Certified Public Accountants serve as auditing accountants
for the Debtors.

The U.S. trustee overseeing the Debtors' cases appointed Keith E.
Gibson as patient care ombudsman on May 29, 2015.

On Nov. 20, 2015, the Debtors disclosed total assets of $20.12
million and total liabilities of $60.53 million.


HORSEHEAD HOLDING: Panel Hires Drinker Biddle as Co-counsel
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of Horsehead Holding
Corp. and its debtor-affiliates seeks permission from the U.S.
Bankruptcy Court for the District of Delaware to retain Drinker
Biddle & Reath LLP as co-counsel, nunc pro tunc to February 16,
2016.

The Committee requires Drinker Biddle to:

   (a) attend the meetings of the Committee;

   (b) review financial and operational information furnished by
       the Debtors to the Committee;

   (c) investigate and determine the value of unencumbered assets;

   (d) analyze and negotiate the budget and the terms of the
       debtor-in-possession financing;

   (e) assist in the efforts to sell assets or equity of the
       Debtors in a manner that maximizes the value for creditors;

   (f) analyze the proposed chapter 11 plan and negotiate a
       recovery for the holders of general unsecured claims;

   (g) review and investigate the liens of purported secured
       parties;

   (h) review and investigate prepetition transactions in which
       the Debtors and/or their insiders were involved;

   (i) confer with the Debtors' management, counsel and financial
       advisors;

   (j) review the Debtors' schedules, statements of financial
       affairs and business plan;

   (k) advise the Committee as to the ramifications regarding all
       of the Debtors' activities and motions before this Court;

   (l) file appropriate pleadings on behalf of the Committee;

   (m) review and analyze the Debtors' financial professionals'
       work product and report to the Committee on that analysis;

   (n) provide the Committee with legal advice in relation to the
       chapter 11 cases;

   (o) prepare various applications and memoranda of law submitted

       to the Court for consideration; and

   (p) perform such other legal services for the Committee as may
       be necessary or proper in these proceedings.

Drinker Biddle will be paid at these hourly rates:

       Robert K. Malone, Partner          $800
       Steven Kortanek, Partner           $675
       Howard A. Cohen, Partner           $600
       Brian P. Morgan, Associate         $485
       Joseph N. Argentina, Associate     $430
       Jennifer M. Roussil, Associate     $430
       Jane L. Gorman, Paralegal          $295
       Margaret D. Broadwater, Paralegal  $205

Drinker Biddle will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Howard A. Cohen, partner of Drinker Biddle, 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.

Drinker Biddle provided the response to the request for additional
information set forth in Paragraph D.1. of the Revised UST
Guidelines:

  -- Drinker Biddle did not represent the Committee in the 12
     months prepetition. Drinker Biddle may represent in the
     future certain Committee members and/or their affiliates in
     their capacities as official committee members in other
     chapter 11 cases.

  -- The Committee approved prospective budget and staffing plan
     for the period from February 16, 2016 through May 31, 2016.

The Bankruptcy Court will hold a hearing on the motion on April 6,
2016, at 12 noon.  Objections were due March 29, 2016.

Drinker Biddle can be reached at:

       Howard A. Cohen, Esq.
       DRINKER BIDDLE & REATH LLP
       222 Delaware Ave., Ste. 1410
       Wilmington, DE 19801-1621
       Tel: (302) 467-4213
       Fax: (302) 467-4201

                   About Horsehead Holding Corp.

Horsehead Holding Corp. is the parent company of Horsehead
Corporation, a U.S. producer of specialty zinc and zinc-based
products and a leading recycler of electric arc furnace dust; The
International Metals Reclamation Company, LLC ("INMETCO"), a
leading recycler of metals-bearing wastes and a leading processor
of nickel-cadmium (NiCd) batteries in North America; and Zochem
Inc., a zinc oxide producer located in Brampton, Ontario.
Horsehead, headquartered in Pittsburgh, Pa., has seven facilities
throughout the U.S. and Canada.  The Debtors currently employ
approximately 730 full-time individuals.

Horsehead Holding Corp., Horsehead Corporation, Horsehead Metal
Products, LLC, The International Metals Reclamation Company, LLC,
and Zochem Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
Del. Case Nos. 16-10287 to 16-10291) on Feb. 2, 2016.  The
petition was signed by Robert D. Scherich as vice president and
chief financial officer.  Judge Christopher S. Sontchi is assigned
to the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, RAS Management
Advisors, LLC as financial advisor, Lazard Middle Market LLC as
investment banker, Epiq Bankruptcy Solutions, LLC as claims and
noticing agent and Aird & Berlis LLP as Canadian counsel.

The Debtors disclosed total assets of $1 billion and total
liabilities of $544.6 million.  As of the Petition Date, the
Debtors' consolidated long-term debt obligations totaled
approximately $420.7 million.



HORSEHEAD HOLDING: Taps Klehr Harrison as Harvey Tepner's Counsel
-----------------------------------------------------------------
Horsehead Holding Corp., et al., ask the U.S. Bankruptcy Court for
the District of Delaware for authority to employ Klehr Harrison
Harvey Branzburg LLP as counsel to Harvey L. Tepner, the
independent director of the Debtor Zochem, Inc., nunc pro tunc to
February 18, 2016.

Timothy Boates, Chief Restructuring Officer of Horsehead Holdings
Corp., et al., tells the Court that the Independent Director
requires independent counsel to advise and assist him in fulfilling
his duties to Zochem Inc.  Mr. Boates adds that for the Independent
Director to meet his obligations as a fiduciary, it is essential
that the Independent Director's review of matters related to Zochem
Inc. be thorough, complete, independent and disinterested.

The scope of Klehr Harrison's retention will be limited to advising
the Independent Director.  Klehr Harrison will not represent any
other officer or director of the Debtors, nor the Debtors
themselves, during the pendency of these Chapter 11 cases, nor at
any time with respect to any matter in connection with the Debtors'
restructuring.

Significantly, Klehr Harrison will advise and assist the
Independent Director in conducting an in-depth and rigorous
analysis of the facts and issues relating to issues affecting
Zochem Inc. in these cases, specifically, with respect to
postpetition financing.  Klehr Harrison will also assist the
Independent Director in analyzing the appropriateness of any plan
proposed in these cases.

Klehr Harrison's current hourly rates for matters related to these
cases are:

         Billing           Range of
         Category        Hourly Rates
         --------        ------------
         Partners        $360 - $700
         Counsel         $300 - $450
         Associates      $230 - $425
         Paralegals      $150 - $300

Consistent with the parties' Engagement Letter, Klehr Harrison will
also be paid for its identifiable, non-overhead expenses incurred
in connection with its proposed employment.

Per the terms of the Engagement Letter, no retainer was paid to
Klehr Harrison.  As of the Petition Date, the Debtors or the
Independent Director did not owe Klehr Harrison any amounts for
legal services rendered before the Petition Date since the
representation of the Independent Director did not commence until
after the Petition Date.

According to the declaration of Domenic E. Pacitti, Esq., a partner
at Klehr Harrison, Klehr Harrison is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.

Klehr Harrison can be reached at:

          Domenic E. Pacitti, Esq.
          KLEHR HARRISON HARVEY BRANZBURG LLP
          919 N. Market Street, Suite 1000
          Wilmington, DE 19801-3062
          Telephone: (302) 552-5511
          Facsimile: (302) 426-9193
          E-mail: dpacitti@klehr.com

                  About Horsehead Holding Corp.

Horsehead Holding Corp. is the parent company of Horsehead
Corporation, a U.S. producer of specialty zinc and zinc-based
products and a leading recycler of electric arc furnace dust; The
International Metals Reclamation Company, LLC ("INMETCO"), a
leading recycler of metals-bearing wastes and a leading processor
of nickel-cadmium (NiCd) batteries in North America; and Zochem
Inc., a zinc oxide producer located in Brampton, Ontario.
Horsehead, headquartered in Pittsburgh, Pa., has seven facilities
throughout the U.S. and Canada.  The Debtors currently employ
approximately 730 full-time individuals.

Horsehead Holding Corp., Horsehead Corporation, Horsehead Metal
Products, LLC, The International Metals Reclamation Company, LLC,
and Zochem Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
Del. Case Nos. 16-10287 to 16-10291) on Feb. 2, 2016.  The petition
was signed by Robert D. Scherich as vice president and chief
financial officer.  Judge Christopher S. Sontchi is assigned to the
case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, RAS Management
Advisors, LLC as financial advisor, Lazard Middle Market LLC as
investment banker, Epiq Bankruptcy Solutions, LLC as claims and
noticing agent and Aird & Berlis LLP as Canadian counsel.

The Debtors disclosed total assets of $1 billion and total
liabilities of $544.6 million.  As of the Petition Date, the
Debtors' consolidated long-term debt obligations totaled
approximately $420.7 million.

The Acting U.S. Trustee for Region 3 appointed seven creditors of
Horsehead Holding Corp. to serve on the official committee of
unsecured creditors.  The Creditors' Committee is represented by
Sharon L. Levine, Esq., Bruce Buechler, Esq., and Philip J. Gross,
Esq., at Lowenstein Sandler LLP, in Roseland, New Jersey; and
Howard A. Cohen, Esq., and Robert K. Malone, Esq., at Drinker
Biddle & Reath LLP, in Wilmington, Delaware.


HORSEHEAD HOLDING: Zochem OK'd as Canadian Foreign Representative
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Debtor Zochem Inc. to act as foreign representative for the estates
of Horsehead Holding Corp., et al., in the Canadian Proceedings.

As reported by The Troubled Company Reporter on Feb. 8, 2016, the
Debtors asked the Bankruptcy Court to authorize debtor Horsehead
Holding Corp. to act as foreign representative on behalf of their
estates in the Canadian Proceedings.

Zochem Inc., one of the Debtors, is a Canadian corporation and is a
wholly owned, direct subsidiary of Horsehead Holding.  Zochem owns
and operates a zinc oxide production facility located in Brampton,
Ontario, Canada.

Horsehead Holdings, as the proposed Foreign Representative, intends
to seek ancillary relief in Canada on behalf of the Debtors'
estates pursuant to the Companies' Creditors Arrangement Act
(Canada) R.S.C. 1985, c. C-36 as amended in the Ontario Superior
Court of Justice (Commercial List) in Toronto, Ontario, Canada. The
purpose of the ancillary proceedings is to request that the
Canadian Court recognize the Debtors' Chapter 11 cases as "foreign
main proceedings" under the applicable provisions of the CCAA in
order to, among other things, protect the Debtors' assets and
operations in Canada.

"Authorizing Horsehead Holding to act as the Foreign Representative
on behalf of the Debtors' estates in the Canadian Proceedings will
allow coordination of these chapter 11 cases and the Canadian
Proceedings, and provide an effective mechanism to protect and
maximize the value of the Debtors' assets and estates," said Laura
Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, counsel
for the Debtors.

                       About Horsehead Holding

Horsehead Holding Corp. is the parent company of Horsehead
Corporation, a U.S. producer of specialty zinc and zinc-based
products and a leading recycler of electric arc furnace dust; The
International Metals Reclamation Company, LLC ("INMETCO"), a
leading recycler of metals-bearing wastes and a leading processor
of nickel-cadmium (NiCd) batteries in North America; and Zochem
Inc., a zinc oxide producer located in Brampton, Ontario.
Horsehead, headquartered in Pittsburgh, Pa., has seven facilities
throughout the U.S. and Canada.  The Debtors currently employ
approximately 730 full-time individuals.

Horsehead Holding Corp., Horsehead Corporation, Horsehead Metal
Products, LLC, The International Metals Reclamation Company, LLC,
and Zochem Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
Del. Case Nos. 16-10287 to 16-10291) on Feb. 2, 2016.  The
petition
was signed by Robert D. Scherich as vice president and chief
financial officer.  Judge Christopher S. Sontchi is assigned to
the
case.

The Debtors engaged Kirkland & Ellis LLP as general counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, RAS Management
Advisors, LLC as financial advisor, Lazard Middle Market LLC as
investment banker, Epiq Bankruptcy Solutions, LLC as claims and
noticing agent and Aird & Berlis LLP as Canadian counsel.

The Debtors disclosed total assets of $1 billion and total
liabilities of $544.6 million.  As of the Petition Date, the
Debtors' consolidated long-term debt obligations totaled
approximately $420.7 million.

The Acting U.S. Trustee for Region 3 appointed seven creditors of
Horsehead Holding Corp. to serve on the official committee of
unsecured creditors.  The Creditors' Committee is represented by
Sharon L. Levine, Esq., Bruce Buechler, Esq., and Philip J. Gross,
Esq., at Lowenstein Sandler LLP, in Roseland, New Jersey; and
Howard A. Cohen, Esq., and Robert K. Malone, Esq., at Drinker
Biddle & Reath LLP, in Wilmington, Delaware.


INSIGHT GLOBAL: Moody's Affirms 'B1' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service affirmed IG Investments Holdings, LLC's
(the entity that indirectly owns Insight Global, LLC - collectively
referred to as "Insight Global") B1 Corporate Family Rating ("CFR")
and B1-PD Probability of Default Rating ("PDR"). In the same rating
action, Moody's upgraded the rating on the company's first lien
senior secured credit facilities, consisting of a $704 million term
loan due 2021, a $37 million term loan due 2019, and a $60 million
revolving credit facility expiring 2019, to Ba3 from B1. The rating
outlook is stable.

The rating action was prompted by Insight Global's contemplated
transactions, which will include an equity purchase by Leonard
Green & Partners and Crescent Capital from the existing equity
sponsor Ares Management and other investors, and a proposed $170
million second lien senior secured term loan due 2023 (not rated).
The combined proceeds of these transactions and cash on hand will
be used to fund a distribution of approximately $685 million to the
existing shareholders. The company is also pursuing an amendment to
its existing first lien credit agreement to allow for incremental
debt and a shareholder distribution, and to include additional
permitted holders.

The proposed transaction is credit negative and demonstrates the
company's ongoing aggressive financial policies due to its
willingness to increase debt to fund sizeable shareholder
distributions. Moody's notes that the proposed transaction is the
third distribution since the Ares Management LBO in October 2012.
Insight Global's pro forma debt-to-EBITDA leverage is estimated to
increase to approximately 6.0x (inclusive of Moody's standard
adjustments) from approximately 4.9x as of December 31, 2015, while
pro forma EBITA to interest coverage is estimated to decline to
2.1x from about 2.9x.

Moody's affirmation of Insight Global's CFR nevertheless reflects
the company's track record of solid revenue and earnings growth and
the resulting consistent ability to de-lever. Moody's expects
Insight Global to continue generating revenue growth at steady
margins amidst a relatively strong operating environment, allowing
the company to de-lever through EBITDA growth to levels that are
more supportive of the B1 rating. Moody's projects adjusted debt to
EBITDA to decline below 5.0x, and EBITA to interest coverage to
improve towards 3.0x over the next 12 to 18 months. The rating
revision to the first lien credit facilities reflects the
introduction of second lien debt to Insight Global's capital
structure, and the loss absorption provided by this instrument.

The following summarizes the rating actions for IG Investments
Holding, LLC:

  Corporate Family Rating, affirmed at B1;

  Probability of Default Rating, affirmed at B1-PD;

  $713 million ($704 million outstanding) first lien
  senior secured term loan due 2021, upgraded to Ba3
  (LGD3) from B1 (LGD3);

  $38 million ($37 million outstanding) first lien senior
  secured term loan due 2019, upgraded to Ba3 (LGD3)
  from B1 (LGD3);

  $60 million first lien senior secured revolving credit
  facility due 2019, upgraded to Ba3 (LGD3) from B1 (LGD3);

The rating outlook is stable.

All ratings are subject to the execution of the transaction as
currently proposed and Moody's review of final documentation. The
instrument ratings are subject to change if the proposed capital
structure is modified.


INTERNATIONAL TECHNICAL: Gets Court Approval to Hire Dinsmore
-------------------------------------------------------------
International Technical Coatings Inc. received court approval to
hire Dinsmore & Shohl LLP as its special counsel.

The order, issued by Judge Madeleine Wanslee, allowed ITC to hire
the firm to help the company resolve its dispute with claimant
Miriam Solorio Vargas.

The approval is "without prejudice" to the rights of the official
committee of unsecured creditors to assert that the company should
not pay for obligations of its subsidiary ITC Manufacturing LLC,
according to the filing.

The committee had earlier opposed the company's bid to hire the
firm, arguing that one of the Dinsmore lawyers was already employed
by ITC Manufacturing in connection with Mrs. Vargas' claim.

"It is entirely unclear what additional services Dinsmore would be
performing for the estate," the committee said in a court filing.
The committee also questioned the use of estate assets to pay ITC
Manufacturing, saying the company is a "non-debtor."

                  About Int'l Technical Coatings

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.

Bank of America Bank, N.A., which is owed more than $25.7 million
in outstanding matured, defaulted loan obligations, applied for the
appointment of a receiver over ITC on Oct. 28, 2015.  The Maricopa
County Superior Court held an initial hearing on the matter on Nov.
4.  A final hearing on the appointment of a receiver was scheduled
for Nov. 18 at 1:30 p.m.  Unable to secure an agreement with the
Bank prior to the scheduled hearing, ITC filed for Chapter 11
protection.

In its petition, the Debtor estimated assets of $50 million to $100
million and liabilities of more than $10 million.

The Debtor tapped Osborn Maledon, P.A., as bankruptcy counsel.
Morris Anderson & Associates, Ltd. serves as its financial
advisor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Stinson Leonard Street,
LLP represents the committee.  The Law Offices of Michael W.
Carmel, Ltd. serves as its conflicts counsel. The Committee
retained KRyS Global, USA, as its financial advisor.

Secured creditor Bank of America is represented by Robert J.
Miller, Esq., Kyle S. Hirsch, Esq., and Amanda L. Cartwright, Esq.,
at Bryan Cave LLP.


INVENTIV HEALTH: Paul Meister Resigns as Director
-------------------------------------------------
As disclosed in a regulatory filing with the Securities and
Exchange Commission, Mr. Paul Meister, director of inVentiv Health,
Inc., notified the Company on March 30, 2016, that he would resign
from the Company's Board of Directors effective immediately.

                      About inVentiv Health

inVentiv Health, Inc., is privately owned by inVentiv Group
Holdings, Inc., an organization sponsored by affiliates of Thomas
H. Lee Partners, L.P., Liberty Lane Partners and members of the
inVentiv Health management team.

inVentiv Health is a top-tier professional services organization
that accelerates the clinical and commercial success of
biopharmaceutical companies worldwide.  The Company's combined
Clinical Research Organization and Contract Commercial Organization
helps clients improve their performance to deliver much-needed
therapies to market.  With 13,000 employees providing services to
clients in 70 countries, inVentiv Health designs best practices,
processes and systems to enable clients to successfully navigate an
increasingly complex environment.
- See more at:
http://www.inventivhealth.com/our-company/investors#sthash.Oi040G6G.dpuf


As of Sept. 30, 2015, the Company had $2.20 billion in total
assets, $2.90 billion in total liabilities and a total
stockholders' deficit of $699 million.

                           *    *    *

As reported by the TCR on May 22, 2015, Moody's Investors Service
affirmed the Caa1 Corporate Family Rating and Caa1-PD Probability
of Default Rating of inVentiv Health, Inc. as well as all of the
instrument ratings.  The Caa1 rating reflects inVentiv's very high
leverage, history of negative free cash flow and significant
interest burden which will make a default event likely if the
company does not significantly improve its EBITDA performance well
ahead of 2018, when all of the company's debt matures.

The TCR reported on Dec. 12, 2012, that Standard & Poor's Ratings
Services affirmed its 'B-' corporate credit rating on Burlington,
Mass.-based contract research organization (CRO) inVentiv Health
Inc.


INVERSIONES ARAXI: Case Summary & 11 Unsecured Creditors
--------------------------------------------------------
Debtor: Inversiones Araxi Group Corp
           dba Motel The Rose
        Box 565
        Salinas, PR 00751

Case No.: 16-02428

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Judge: Hon. Edward A Godoy

Debtor's Counsel: Gerardo L. Santiago Puig, Esq.
                  GSP LAW, P.S.C.
                  Doral Bank Plaza Suite 801
                  33 Resolucion St
                  San Juan, PR 00920
                  Tel: 787-777-8000
                  Fax: 787-767-7107
                  E-mail: gsantiagopuig@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Luis J. Perez Delgado, president.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb16-02428.pdf


IRONSTONE GROUP: Delays 2015 Annual Report Over CFO Resignation
---------------------------------------------------------------
Ironstone Group, Inc. filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended
Dec. 31, 2015, stating that:     
     
"Due to the period of time required for a new CFO to be selected
following resignation of the previous CFO on January 8, 2016, the
Company has been unable to prepare annual financial statements and
commence the audit process in a timely fashion.  The selection
process had not been completed as of March 30, 2016, the due date
of the Form 10-K.  Also, due to the untimely receipt of an updated
private investment valuation, additional time is required to revise
the financial statements to reflect the changes in valuation."

                       About Ironstone Group
  
San Francisco, Calif.-based Ironstone Group, Inc., and
subsidiaries have no operations but are seeking appropriate
business combination opportunities.

Ironstone reported a net loss of $259,000 for the year ended
Dec. 31, 2014, compared to a net loss of $170,000 for the year
ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $2.96 million in total
assets, $1.88 million in total liabilities and $1.07 million in
total stockholders' equity.

Burr Pilger Mayer, Inc., in San Francisco, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has recurring net losses and negative cash flows from
operations.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


JAMES RIVER COAL: Court Confirms 2nd Amended Liquidation Plan
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
confirmed James River Coal Company, et al.'s Second Amended Plan of
Liquidation, which promises a 0.5% or 1% recovery for general
unsecured creditors.

As reported by the Troubled Company Reporter on March 17, 2016, the
Plan is the product of a highly negotiated agreement among the
Debtors and the Official Committee of Unsecured Creditors.  All
Classes receiving distributions under the Plan have voted to accept
the Plan.  

These classes were entitled to vote to accept or reject the Plan:

     Classes             Description
     -------             -----------
Classes 1C; 2C & 34C     7.875% Senior Notes Parent Claims;
                         7.875% Senior Notes Guarantee Claims

Classes 1D; 2D-34D       10.00% Conv. Senior Notes Parent Claims;
                         10.00% Conv. Senior Notes Guarantee
Claims

Classes 1E; 2E- 34E      PBGC Parent Claims; PBGC Subsidiary
Claims

Classes 1F & 34F         General Unsecured Claims

The Debtors submitted that the Plan satisfies all of the
confirmation requirements of the Bankruptcy Code and the Federal
Rules of Bankruptcy Procedure and should be confirmed.

The Debtors pointed out that the Plan has not drawn any feasibility
objections. The Plan provides for the merger and dissolution of the
Debtors and the designation of the Plan Administrator to distribute
Cash or other consideration to Holders in accordance with the Plan
Administrator Agreement and the terms of the Plan.

The Plan Supplement provides that Byron Advisors, LLC will serve as
Plan administrator.

The Plan Administrator can be reached at:

         Byron Advisors, LLC
         1623 Third Avenue, Suite 20A
         New York, NY 10128
         Attn: William B. Murphy
         Telephone: (804) 783-6292
         E-mail: william.murphy@jamesrivercoal.com

A copy of the Second Amended Plan of Liquidation is available at
http://bankrupt.com/misc/James_River_1688_Mod_Plan.pdf

A copy of the Debtors' memorandum in support of confirmation of the
Plan is available at
http://bankrupt.com/misc/James_River_1690_Plan_Conf_Memo.pdf

According to the solicitation version of the Disclosure Statement
filed Feb. 4, 2016, the projected recoveries under the Plan are:

                                                        Projected
  Class & Description        Proposed Treatment         Recovery
  -------------------        ------------------         ---------
1A-34A Other Priority
  Claims                Unimpaired. Payment in full
                        in Cash; or other treatment
                        that will render the Claim
                        Unimpaired.                       100%

1B-34B Secured Claims   Unimpaired. Payment in full in
                        Cash, to the extent of the value
                        of the holder's secured interest
                        in such Collateral; or other
                        treatment that will render the
                        Claim Unimpaired.                 100%

1C; 2C-34C 7.875%
  Senior Notes Parent
  Claims; 7.875% Senior
  Notes Guarantee
  Claims                Impaired. Subject to Section
                        3.2(c) of the Plan, each Holder
                        of an Allowed 7.875% Senior Notes
                        Parent Claim shall be entitled
                        to its Ratable Share of Total
                        Distributable Cash.               3.8%

1D; 2D-34D  10.00%
  Convertible Senior
  Notes Parent Claims;
  10.00% Convertible
  Senior Notes
  Guarantee Claims      Impaired. Subject to Section
                        3.2(d) of the Plan, each Holder
                        of an Allowed 10.00% Convertible
                        Senior Notes Parent Claim
                        will be entitled to its Ratable
                        Share of Total Distributable
                        Cash.                            1.75%

1E; 2E-34E  PBGC Parent
  Claims; PBGC
  Subsidiary Claims     Impaired. Subject to Section
                        3.2(e) of the Plan, on account
                        of any Allowed PBGC Parent Claim,
                        PBGC shall be entitled to such
                        Allowed PBGC Parent Claim's
                        Ratable Share of Total
                        Distributable Cash.              3.8%

1F-34F General
  Unsecured Claims      Impaired.  Subject to Section
                        3.2(f), each Holder of an
                        Allowed General Unsecured
                        Claim shall be entitled to
                        its Ratable Share of Total
                        Distributable Cash.              1.0%
                                                      (Debtor
                                                      Group 1)
                                                      Or 0.5%
                                                      (Debtor
                                                      Group 2)

1G-34G  Subordinated
  Claims                Impaired. No distribution.        0%

1H-34H Intercompany
  Claims                Impaired. Cancelled;
                        no distribution.                  0%

1I Interests in
  James River           Impaired. No distribution.        0%

1J; 2I-34I Interests in
  Subsidiary Debtors    Unimpaired. Reinstated.         100%

A copy of the Disclosure Statement filed Feb. 3, 2016, is available
for free at
http://bankrupt.com/misc/James_River_1639_Solicit_DS.pdf

                     About James River Coal

James River Coal Company is a producer and marketer of coal in the
Central Appalachia ("CAPP") and the Midwest coal regions of the
United States.  James River's principal business is the mining,
preparation and sale of metallurgical coal, thermal coal (which is
also known as steam coal) and specialty coal.

James River and 33 of its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. E.D. Va. Case Nos. 14-31848 to 14-31886) in
Richmond, Virginia, on April 7, 2014.  The petitions were signed by
Peter T. Socha as president and chief executive officer.  Judge
Kevin R. Huennekens oversees the Chapter 11 cases.

On the petition date, James River Coal disclosed total assets of
$1.06 billion and total liabilities of $818.6 million.

The Debtors are represented by Tyler P. Brown, Esq., Henry P.
(Toby) Long, III, Esq., and Justin F. Paget, Esq. at Hunton &
Williams LLP of Richmond, VA and Marwill S. Huebner, Esq, Brian M.
Resnick, Esq., and Michelle M. McGreal, Esq. at Davis Polk &
Wardwell LLP of New York, NY.  Kilpatrick Townsend & Stockton LLP
serves as the Debtors' special counsel.  Perella Weinberg Partners
L.P. is the Debtors' financial advisor.  Deutsche Bank Securities
Inc. serves as the Debtors' investment banker and M&G advisor.
Epiq Bankruptcy Solutions, LLC, acts as the debtors' notice, claims
and administrative agent.

The U.S. Trustee for Region 4 has appointed five creditors to the
Official Committee of Unsecured Creditors.  Michael S. Stamer,
Esq., Alexis Freeman, Esq., and Jack M. Tracy II, Esq., at Akin
Gump Strauss Hauer & Feld LLP; and Jonathan L. Gold, Esq.,
Christopher L. Perkins, Esq., and Christian K. Vogel, Esq., at
LeClairRyan.

The Debtors, in August 2014, won authority to sell the Hampden
Mining Complex (including the assets of Logan & Kanawha Coal
Company, LLC), the Hazard Mining Complex (other than the assets of
Laurel Mountain Resources LLC) and the Triad Mining Complex for $52
million plus the assumption of certain environmental and other
liabilities, to a unit of Blackhawk Mining.  The Buyer is
represented by Mitchell A. Seider, Esq., and Charles E. Carpenter,
Esq., at Latham & Watkins LLP.

                           *     *     *

James River Coal has filed a bankruptcy-exit Plan that contemplates
the liquidation and dissolution of the Debtors and the resolution
of all outstanding claims against, and interests in, the Debtors.

A copy of the Disclosure Statement for the Liquidating Plan filed
Dec. 22, 2015, is available for free at:

     http://bankrupt.com/misc/James_River_1565_DS_Liq_Plan.pdf  


KEITHVILLE WELL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Keithville Well Drilling & Services, LLC
        11719 Mansfield Road
        Keithville, LA 71047

Case No.: 16-10545

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Western District of Louisiana (Shreveport)

Judge: Hon. Jeffrey P. Norman

Debtor's Counsel: Robert W. Raley, Esq.
                  AYRES, SHELTON, WILLIAMS & PAINE, LLC
                  333 Texas Street, 1400 Regions Tower
                  Shreveport, LA 71101
                  Tel: (318) 227-3500
                  Fax: (318) 227-3822
                  Email: robertraley@arklatexlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeffrey C. Talley, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lawb16-10545.pdf


KIRWAN OFFICES: Lapidem, Mascini Want Plan Exclusivity Terminated
-----------------------------------------------------------------
Petitioning creditors Lapidem Ltd. and Mascini Holdings Limited ask
the U.S. Bankruptcy Court for the Southern District of New York, to
terminate Kirwan Offices S.A.R.L.'s exclusive periods to propose a
Chapter 11 plan.

Lapidem and Mascini are 99.9944% owners, and holders of over 99% of
the debt of debtor Kirwan Offices S.A.R.L.  He further contends
that Kirwan's only asset is a Russian subsidiary, OOO Promneftstroy
("PNS").

Jay M. Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom, LLP,
in New York, New York, recounts that Lapidem and Mascini, together
with other parties, came together to make an investment through
Kirwan and PNS: the acquisition of 100% of the shares of Yukos
Finance B.V. ("Yukos Finance"), a Dutch entity, in an auction by
the bankruptcy estate of its parent company, OAO "Yukos Oil
Company" ("Yukos Oil").  A third party, Stephen Lynch, was also a
party to the transaction, albeit in a limited role.

On Aug. 15, 2007, PNS successfully participated in the Yukos
Finance auction with a winning bid of $309 million.  The entire
purchase price was funded by Lapidem and Mascini through loans
provided in 2007 and 2011 to Kirwan, who in turn loaned the
proceeds on to PNS.  Those loans remain unpaid.

Shortly after PNS won the auction, it became embroiled in
litigation with entities connected to the former shareholders and
management of Yukos Oil.  Over the ensuing year, highly complex
litigation was spawned in the Netherlands, Russia, the United
Kingdom and several courts in the United States.  The litigation
lasted over eight years and has been funded exclusively by Lapidem
and Mascini in the aggregate amount of over $35 million, in the
form of additional loans to Kirwan that also remain unpaid.  To
this day, PNS has still not succeeded in acquiring quiet title to
the shares of Yukos Finance.

Mr. Goffman tells the Court that PNS' litigation adversaries have
recently made an offer to finally fully settle their litigation for
an amount equal to approximately $137.5 million.  Mr. Goffman tells
the Court that while majority of Kirwan's managers agree that
settlement of the litigation on the said terms is in the best
interests of Kirwan and its stakeholders, Mr. Stephen Lynch does
not agree.  Mr. Goffman says Mr. Lynch is actively interfering with
settlement efforts in order to obtain a payday for himself.  He
contends that Mr. Lynch has demanded that there be no settlement
discussions whatsoever without his consent, and that he would
consent to settlement if he is bought out for $35 million, even
though his interests are below $345 million in debt, and will be
over $200 million under water if the proposed settlement is
consummated.

Mr. Goffman tells the Court that Lapidem and Mascini are prepared
to propose a plan of liquidation that will provide a vehicle for
resolving, for the benefit of all parties, the global litigation
that has engulfed PNS and Yukos Finance for the last eight years,
and that will concomitantly bring to an end the meritless
governance issues that Mr. Lynch has created to feather his own
nest.  He further tells the Court that Lapidem and Mascini request
prompt termination of exclusivity so that they can pursue their
plan forthwith.

Lapidem Ltd. and Mascini Holdings Limited are represented by:

          Jay M. Goffman, Esq.
          Mark A. McDermott, Esq.
          Suzanne Lovett, Esq.
          SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
          Four Times Square
          New York, NY 10036
          Telephone: (212)735-3000
          E-mail: jay.goffman@skadden.com
                  mark.mcdermott@skadden.com
                  suzanne.lovett@skadden.com


LATTICE INC: Delays 2015 Form 10-K for Review
---------------------------------------------
Lattice Incorporated notified the U.S. Securities and Exchange
Commission that its annual report on Form 10-K could not be filed
within the prescribed time period because of a delay experienced by
the Company in compiling required information to complete its
financial statements.  As a result, the Company's auditors require
additional time to complete its review of the Company's financial
statements.

                       About Lattice Inc.

Pennsauken, New Jersey-based Lattice Incorporated provides
telecommunications services to correctional facilities and
specialized telecommunication service providers in the United
States.

Lattice Inc. reported a net loss of $1.8 million on $8.94 million
of revenue for the year ended Dec. 31, 2014, compared to a net loss
of $1 million on $8.26 million of revenue in 2013.

As of Sept. 30, 2015, the Company had $4.88 million in total
assets, $8.84 million in total liabilities and a total
shareholders' deficit of $3.96 million.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2014, noting that
the Company has a working capital deficit and requires additional
working capital to meet its current liabilities.  The auditors said
these factors raise substantial doubt about the Company's ability
to continue as a going concern.


LEE STEEL: Changes Name to LSC Liquidation Following Asset Sale
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Michigan
authorized Lee Steel Corporation to change its name to LSC
Liquidation, Inc., following the sale of substantially all of its
assets.

The Court also authorized the duly appointed officer of Lee Steel
to execute and cause the filing of the Certificate of Amendment to
the Certificate of Incorporation with the Office of the Secretary
of State of the State of Michigan.

As reported by the Troubled Company Reporter on Oct. 16, 2015,
Lee Steel Corporation asked the Hon. Marci B. McIvor for
permission to change its name to LSC Liquidation Inc. as
contemplated by the previously approved sale transaction with Union
Partners I LLC.

The other debtor-affiliates also sought permission to change their
names.

Lee Steel saids that effective Sept. 18, 2015, the sale to Union
Partners closed and the Debtors ceased operations and commenced the
process of winding down their affairs, turning their attention to
confirming a plan and completing the final administration of their
Chapter 11 cases.  Pursuant to the sale order, the Court authorized
the Debtors to sell substantially all of their assets located at
their Wyoming, Michigan facility, including intellectual property,
to Union Partners.

The Debtors believe the name change is necessary to enable them to
fully comply with the terms of the asset purchase agreement and the
sale order.

                        About Lee Steel

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.  

The Hon. Marci B. McIvor presides over the cases.  Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located at
the Lee Steel Corporation site in Romulus, Michigan.  The deal
which was approved in U.S. Bankruptcy Court includes a 200,000
square foot plant and all of the steel processing equipment located
at that site.  The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve on
the official committee of unsecured creditors.  Conway Mackenzie,
Inc. serves as its financial advisor.


LEE STEEL: Wants Union Partners to Give Access to Information
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of Lee Steel
Corporation asks the U.S. Bankruptcy Court for the Eastern District
of Michigan, Southern Division, to require Union Partners I LLC to
provide the Committee, Debtors, and their successors access to
debtors LSC Liquidation, Inc., et al.'s books, records, and
electronically stored information.

The Creditors Committee contends that Union Partners is acting in
bad faith and in violation of the Union Partners Sale Order by
unjustifiably refusing to provide the Committee and Debtors access
to the requested documents and information.  The Committee seeks
access to documents and information that are directly relevant to
the Chapter 5 causes of action currently being pursued by it.

The Committee relates that the Sale Agreement, which was approved
by the Court's Union Partners Sale Order, obligates Union Partners
to afford the Debtors, their successors and assignees, and the
Official Committee, reasonable access to such books, records and
other data.

The Union Partners Sale Order related to the sale of substantially
all of the Debtors' assets located in Wyoming, Michigan.

The Creditors Committee tells the Court that the Debtors'
electronically stored information existing as of the sale closing
date was migrated by Union Partners to a server controlled by Union
Partners.  It further tells the Court that the Committee, with the
Debtors' consent, requested that Union Partners provide the
Committee access to the server.  The Committee avers that Union
Partners initially agreed to provide access, but then abruptly
changed its mind, stating that "Union Partners also discovered the
creditors committee is objecting to an amendment to the purchase
and sale agreement or court order approving the sale of the Lee
Steel assets providing for assumption of the United Healthcare
insurance policy.  Since this may adversely affect their employees,
they will not provide you access to their server."

The Official Committee of Unsecured Creditors of Lee Steel
Corporation is represented by:

         Scott A. Wolfson, Esq.
         Anthony J. Kochis, Esq.
         WOLFSON BOLTON PLLC
         3159 Livernois, Suite 275
         Troy, MI 48083
         Telephone: (248)247-7105
         Facsimile: (248)247-7099
         E-mail: akochis@wolfsonbolton.com

                    About Lee Steel Corporation

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.

The Hon. Marci B. McIvor presides over the cases. Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located
at
the Lee Steel Corporation site in Romulus, Michigan. The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site. The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve
on
the official committee of unsecured creditors. Conway Mackenzie,
Inc. serves as its financial advisor.

                          *     *     *

The Debtors sold their steel processing facility located in
Romulus, Michigan, to Hilco Global for $14 million.  The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.

Union Partners I, LLC, won an auction for the Debtors' Wyoming
facility and working capital assets with a $23.6 million offer.
Effective Sept. 18, 2015, the sale to Union Partners closed, and
the Debtors ceased operations and commenced the process of winding
down their affairs.  The Debtors changed their names to LSC
Liquidation Inc., et al., following the sale.


LEO MOTORS: Reports $4.49 Million Net Loss for 2015
---------------------------------------------------
Leo Motors, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of US$4.49
million on US$4.29 million of revenues for the year ended Dec. 31,
2015, compared to a net loss of US$4.48 million on US$693,000 of
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Leo Motors had US$6.24 million in total
assets, US$5.67 million in total liabilities and US$577,000 in
total equity.  John Scrudato CPA, in Califon, New Jersey, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, noting that the
Company has incurred significant accumulated deficits, recurring
operating losses and a negative working capital.  This and other
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/1Hsl3q

                       About Leo Motors

Headquartered in Hanam City, Gyeonggi-do, Republic of Korea, Leo
Motors, Inc., a Nevada corporation, is currently engaged in the
research and development of multiple products, prototypes and
conceptualizations based on proprietary, patented and patent
pending electric power generation, drive train and storage
technologies.

In 2011, the Company determined its investment in Leo B&T Inc. an
investment account was impaired and recorded an expense of
$4.5 million.  During the 2012 year the Company had a net non
operating income largely from the result of the forgiveness of
debt for $1.3 million.


LIME ENERGY: Incurs $4.44 Million Net Loss in 2015
--------------------------------------------------
Lime Energy Co. filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss available to
common stockholders of $4.44 million on $113 million of revenue for
the year ended Dec. 31, 2015, compared to a net loss available to
common stockholders of $5.60 million on $58.8 million of revenue
for the year ended Dec. 31, 2014.

"Lime Energy is well positioned to provide much needed services to
small business customers which meet the changing needs of the
electric utility industry," said Adam Procell, Lime Energy
president & CEO.  "As this industry takes shape, we will continue
to make the investments which position us to be a leader in the
space, with a differentiated offering.  We will remain at the
forefront of serving utility clients and their small business
customers."

As of Dec. 31, 2015, the Company had $57.6 million in total assets,
$41.8 million in total liabilities, $10.7 million in contingently
redeemable series C preferred stock and $5.09 million in total
stockholders' equity.

As of Dec. 31, 2015, the Company had cash and cash equivalents of
$6.7 million (including restricted cash of $1.3 million), compared
to cash of $6.0 million (including restricted cash of $500
thousand) as of Dec. 31, 2014.  The Company's contractual
obligations as of Dec. 31, 2015, totaled $5.0 million in future
lease obligations.  The Company's contractual commitments for 2016
total approximately $720 thousand, which it believes will be able
to satisfy through operating cash flows and its cash reserve.

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

                      http://is.gd/G8qjvr

                        About Lime Energy

Headquartered in Huntersville, North Carolina, Lime Energy Co. --
http://www.lime-energy.com/-- is engaged in planning and
delivering clean energy solutions that assist its clients in their
energy efficiency and renewable energy goals.  The Company's
solutions include energy efficient lighting upgrades, energy
efficient mechanical and electrical retrofit and upgrade services,
water conservation, building weatherization, on-site generation
and renewable energy project development and implementation.  The
Company provides energy solutions across a range of facilities,
from high-rise office buildings, distribution facilities,
manufacturing plants, retail sites, multi-tenant residential
buildings, mixed use complexes, hospitals, colleges and
universities, government sites to small, single tenant facilities.


LIONS GATE: Moody's Affirms Ba3 CFR & Changes Outlook to Negative
-----------------------------------------------------------------
Moody's Investors Service changed Lions Gate Entertainment Corp.'s
rating outlook to negative from stable and affirmed its Ba3
Corporate Family rating, Ba3-PD Probability of Default rating and
the Ba3 senior secured debt rating.  The Speculative Grade
Liquidity (SGL) rating was lowered from SGL-2 to SGL-3.

Issuer: Lions Gate Entertainment Corp.

Affirmations:

  Probability of Default Rating, Affirmed Ba3-PD

  Corporate Family Rating, Affirmed Ba3

  Senior Secured Bank Credit Facility, Affirmed Ba3, to (LGD4)
   from (LGD3)

  Senior Secured Regular Bond/Debenture, Affirmed Ba3, to (LGD4)
   from (LGD3)

Lowered:

  Speculative Grade Liquidity Rating, Lowered to SGL-3 from SGL-2

Outlook Actions:

  Outlook, Changed To Negative From Stable

                         RATINGS RATIONALE

The change in the company's rating outlook is driven by higher than
expected debt levels for the rating as well as weaker than expected
operating results at its Motion Pictures segment, which accounts
for 74% of consolidated revenues, due to underperformance of its
slate of films over the last couple of months, including
disappointing box office numbers for its latest production
Allegiant (the third film in the Divergent series).  Over the last
two years the company used free cash flow to execute shareholder
payouts ($178 million in Fiscal 2015 and $34 million in the first
three quarters of Fiscal 2016), while increasing gross debt well
above management's $500 million target level, which is the debt
level Moody's had incorporated in its ratings assumptions.  These
shareholder distributions have used the company's financial
resources which could have otherwise been used to maintain
financial flexibility during difficult periods.  As a result of an
increase in debt and deterioration in EBITDA, Moody's adjusted
debt-to-EBITDA has climbed from 3.9x at 3/31/2015 to approximately
9.2x at 12/31/2015.  The rapid increase in leverage goes to show
that it is imperative for companies in the inherently volatile
motion picture industry to operate with low debt levels given the
high business risk resulting from the high probability for
occasional weak box office performance.

The high debt burden and weak operating performance together have
weighed on liquidity and resulted in credit metrics deteriorating
to levels that warrant a lower CFR to "B" levels.  However, the
company recently indicated via a regulatory filing that it is
interested in exploring a potential mutually beneficial combination
with Starz, LLC (Ba2, Stable).  The filing states that a potential
merger would involve stock or a combination of stock and cash.  The
final credit rating outcomes in a merger would depend on multiple
qualitative and quantitative factors such as amount of debt used to
fund the deal, asset dispositions, cost and revenue synergies and
management's commitment to debt reduction and credit ratings, among
other factors.  However, Moody's believes that a merger with Starz
would be strategically beneficial due to the potential for
collaboration between the two companies.  Moody's believes the deal
will enable Lionsgate to leverage its production capabilities to
benefit from the increasing demand for original programming and
theatrical output which are important to Starz, and thereby boost
revenues and profitability for the combined entity.  The deal will
also bring financial advantages to Lionsgate as Starz has a
stronger balance sheet with low leverage of 2.5x (Moody's
adjusted), a good track record of stable profitability and
generates strong annual cash flows of over $200 million.  Moody's
notes that if the two companies agree to a deal, Lionsgate could
retain a "Ba" rating if management is committed to its credit
ratings and the transaction is funded with stock, a moderate amount
of new debt and proceeds from potential asset sales.  Moody's will
continue to monitor developments during upcoming quarters as they
unfold and evaluate the impact on Lionsgate's credit profile.

Moody's notes that Lionsgate's credit profile continues to be
supported by its disciplined approach to film production and focus
on low to mid-budget films.  The company's track record of
negotiating co-production agreements and acquiring or producing
niche films which cost significantly lower than typical big-budget
tent pole movies, reduce financial exposure associated with motion
picture production.  The rating also reflects Lionsgate's ability
to generate good cash flows from its library consisting of over
16,000 film titles and television episodes.  Additionally, we also
expect continued operating momentum in the company's television
production business to support long-term growth.  The rating is
supported by the company's significant asset value, which includes
its equity investments such as EPIX, and the growing contribution
of its television production and syndication businesses.

The SGL-3 rating reflects Moody's expectations that Lionsgate will
have adequate liquidity over the next 12-18 months.  As of
12/31/2015, the company had $88 million of cash on its balance
sheet and no amounts outstanding under its $800 million senior
secured revolving credit facility.  Moody's expects Lionsgate will
be reliant on its revolver to fund film development and marketing
spending and will generate lower free cash flow than historical
levels over the next twelve months due to recent weakness in film
slate performance.  Moody's anticipates that the company will
maintain sufficient cushion under its secured debt covenant and
continue to prudently manage its forward-looking film spending and
liquidity ratios, to ensure access to its credit facility.

Moody's believes that Lionsgate's operating performance will
improve in Fiscal 2017 as a result of a more diversified slate of
film titles (relative to Fiscal 2016) and continued strong demand
for its television programming.  Accordingly, we estimate that
leverage will decline considerably from current levels over the
next 12-18 months but will remain above our 3.0x sustained leverage
downgrade threshold over the intermediate term absent a Starz
merger.  Moody's cautions that the Ba3 CFR could be downgraded if a
deal with Starz fails to take place or if the company's upcoming
new film productions perform poorly at the box office, resulting in
further deterioration in credit metrics. Further, since the rating
outlook is negative, Moody's does not anticipate a positive rating
action in the near term.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

Lions Gate Entertainment Corp (parent of Lions Gate Entertainment
Inc.), domiciled in British Columbia, Canada (headquartered in
Santa Monica, CA), is a motion picture and television studio with a
diversified presence in the production and distribution of motion
pictures, television programming, home entertainment,
video-on-demand and digitally delivered content.  The company
operates through two reporting segments: Motion Pictures (74%) and
Television Production (26%).  Consolidated revenues for the LTM
period ended Dec. 31, 2015, were about $2.2 billion.


LIQUID HOLDINGS: Case Converted to Chapter 7 Liquidation
--------------------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
Liquid Holdings Group's motion to convert its Chapter 11
reorganization cases to liquidation under Chapter 7.

As previously reported, "The Debtors lack sufficient liquidity to
make pursuit of a sale or liquidating plan an appropriate exercise.
Moreover, despite extensive prepetition marketing, no party has
committed to serve as a stalking horse bidder in a sale process.
Should the Chapter 11 cases not convert the Debtors believe that
they will be unable to continue to pay administrative expenses as
they come due.  Engaging in a chapter 11 liquidating plan process
will unnecessarily deplete the Debtors' remaining assets and would
be unlikely to provide a meaningful return to unsecured creditors.
Rather, the interests of the Debtors' estates will best be served
by conversion of these Chapter 11 cases to cases under chapter 7 of
the Bankruptcy Code.

By converting the cases, the remaining assets of the estates can be
efficiently and effectively liquidated by a chapter 7 trustee and
distributed to stakeholders….While the Debtors believe the
Actions fall under Bankruptcy Code Section 363(c)(1) in that they
are being done in the ordinary course of business, in an abundance
of caution and to the extent necessary, the Debtors seek confirming
authority under Bankruptcy Code section 363 to implement these
Actions."  The management solutions' provider filed for Chapter 11
protection on Jan. 27, 2016 listing
$28 million in prepetition assets.

                  About Liquid Holdings Group

Liquid Holdings Group, Inc. (otc pink:LIQD) --
http://www.liquidholdings.com-- a SaaS provider of investment   
management solutions for the buy side, on Jan. 28 disclosed that
it
and its subsidiary Liquid Prime Holdings, LLC, each filed a
voluntary petition in the United States Bankruptcy Court for the
District of Delaware seeking relief under the provisions of
Chapter
11 of the United States Bankruptcy Code.

The cases are Liquid Holdings Group, Inc., Case No. 16-10202
(Bankr. D. Del.) and Liquid Prime Holdings, LLC, Case No. 16-10203
(Bankr. D. Del.).

The Company's counsel in Chapter 11 is Blank Rome LLP.  The
Company
has engaged Carl Marks Advisory Group, LLC as its bankruptcy
financial advisor and SenaHill Advisors, LLC as its investment
banker.


MARINA BIOTECH: Provides 2015 Year-End Financials and Update
------------------------------------------------------------
Marina Biotech, Inc. reported net income applicable to common
stckholders of $2.64 million on $680,000 of license and other
revenue for the year ended Dec. 31, 2015, compared to a net loss
applicable to common stockholders of $12.47 million on $500,000 of
license and other revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Marina Biotech had $7.59 million in total
assets, $7.33 million in total liabilities and $263,000 in total
stockholders' equity.

"During 2015, we continued to see the clinical advancement of our
SMARTICLES delivery technology through licensees ProNAi
Therapeutics and Mirna Therapeutics, as well as the expansion of
our intellectual property estate with key patent issuances in the
U.S., Europe and Japan," stated J. Michael French, president and
chief executive officer of Marina Biotech.  "In addition, the past
few months have presented us with some great traction within the
nucleic acid sector.  We recently entered into two agreements that
will advanced our delivery technologies in the emerging field of
gene editing.  These two transactions represent the first
opportunity to prove that our SMARTICLES technology would
effectively deliver these types of novel compounds.  Although these
are not the transformative transactions that we anticipated closing
in 2015, these transactions continue to build downstream
success-based milestones and royalties for the company."

Mr. French continued, "Although we have pursued, and continue to
pursue, additional licensing and partnering opportunities, our
limited cash runway necessitated the initiation of a formal process
to identify potential strategic partners to allow for the continued
advancement of our proprietary nucleic acid drug discovery platform
and clinical pipeline.  The proposed sale of our RNA assets to
Microlin Bio, with whom we entered into a term sheet in March 2016,
provides such an opportunity.  We believe that our proprietary
chemistries and delivery technologies are best suited for
development of therapeutic compounds that modulate non-coding RNA.
Therefore, we feel strongly that these technologies are synergistic
and complimentary to Microlin's novel microRNA assets and that
Microlin is in a stronger position to advance these assets.  As we
go through this process with Microlin, we will continue to pursue
licensing and partnering opportunities in order to increase value
to our shareholders."

At Dec. 31, 2015, the Company had cash of $0.7 million compared to
$1.8 million at Dec. 31, 2014.

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

                     http://is.gd/3jr95N

                    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.


MARINA BIOTECH: Reports $2.64 Million Net Income for 2015
---------------------------------------------------------
Marina Biotech, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
applicable to common stockholders of $2.64 million on $680,000 of
license and other revenue for the year ended Dec. 31, 2015,
compared to a net loss applicable to common stockholders of $12.47
million on $500,000 of license and other revenue for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Marina Biotech had $7.59 million in total
assets, $7.33 million in total liabilities and $263,000 in total
stockholders' equity.

Wolf & Company, P.C., in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has suffered
recurring losses from operations, has a significant accumulated
deficit and does not have sufficient capital to fund its
operations.  This raises 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/7l72Tg

                       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.


MBB MANAGEMENT: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: MBB Management, LLC
        10 Medical Parkway, Suite 106
        Dallas, TX 75234

Case No.: 16-31345

Chapter 11 Petition Date: April 2, 2016

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Hon. Stacey G. Jernigan

Debtor's Counsel: John P. Lewis, Jr.
                  LAW OFFICE OF JOHN P. LEWIS, JR.
                  1412 Main St. Ste. 210
                  Dallas, TX 75202
                  Tel: (214) 742-5925
                  Fax: (214) 742-5928
                  E-mail: jplewisjr@mindspring.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Dennis H. Birenbaum, manager.

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


MGM GROWTH: Moody's Assigns '(P)B1' CFR, Outlook Stable
-------------------------------------------------------
Moody's Investors Service has assigned a (P) B1 corporate rating to
MGM Growth Properties LLC the rating outlook is stable.  This is
the first time Moody's has assigned a rating to the real estate
investment trust (REIT).

MGM Growth will operate as a standalone public company after its
spin-off from MGM Resorts International.  The REIT will be
comprised of nine casino resort properties and one dining and
entertainment complex -- seven located in Las Vegas, two in
Mississippi and one in the Detroit metro area - wholly owned by MGM
Growth.  The transaction is anticipated to close in April 2016.

These ratings were assigned with a stable outlook:

MGM Growth Properties LLC
   -- Corporate Family rating at (P)B1

MGM Growth Properties Operating Partnership LP
   -- Senior Secured Term Loan A rating at (P)B1
   -- Senior Secured Term Loan B rating at (P)B1
   -- Senior Secured Revolving Credit Facility rating at (P)B1
   -- Senior Unsecured Debt rating at (P)B2

                         RATINGS RATIONALE

MGM Growth Properties LLC's (P)B1 corporate family rating primarily
reflects MGM Growth's high quality assets, a portfolio tenanted by
MGM Resorts - a leading industry operator with a long term track
record and its solid leverage and cash flow metrics (on a pro forma
basis).  Credit challenges include the REIT's high tenant, asset,
and geographic concentrations, and MGM Resorts' effective
operational control of the REIT.  The specialized nature of the
REIT's unique gaming assets is also a credit concern.

The provisional rating (P) reflects that the existing rating is
contingent on the successful execution of the company's
capitalization plans which include an initial public offering of
equity along with a senior credit facility placement and an
unsecured bond offering.

The stable rating outlook reflects Moody's expectation that MGM
Growth will maintain its proposed capital structure and lease
terms.  The outlook also anticipates that MGM Resorts will maintain
its current ownership interest in MGM REIT.  Any material changes
to the master lease terms - as they stand - could erode the rating
and outlook cushion.

MGM Growth's rating could be upgraded if the company were to see an
upgrade to MGM Resorts corporate family rating and or revision to
the rating outlook by Moody's Investors Service, an increase in
portfolio EBITDARM coverage at the operator level to above 2.0x on
a consistent basis (while maintaining occupancy in the existing
portfolio) and or a decrease in the largest tenant concentration to
below 50% of MGM REIT's EBITDA.

Increased third party ownership of MGM REIT -- beyond the 50% level
-- with commensurate board representation and voting rights is also
a potential catalyst to an upgrade.  Upon the company's IPO, MGM
Resorts is projected to hold approximately 70-75% of MGM Growth's
total outstanding shares / OP units.  In addition, five of the
eight directors on MGM Growth's board will be either employees or
existing directors of MGM Resorts.  A mitigating factor to MGM
Resorts control of the REIT is the establishment of a special
approval process for transactions between the two entities in
excess of $25 million which present a conflict of interest.

The ratings could be downgraded if there is a downgrade to MGM
Resorts corporate family rating and/or revision to the rating
outlook by Moody's Investor Service, a decline in portfolio EBITDAR
operator coverage to 1.5x or below, Net debt to EBITDA increasing
to in excess of 6.0x on a consistent basis and or a fixed charge
coverage ratio below 2.5x.

Additional factors that could result in a downgrade are a
restructuring of or material change in the master lease terms,
including the triggering of springing lease provisions.

The principal methodology used in this rating was Global Rating
Methodology for REITs and Other Commercial Property Firms published
in July 2010.



MIDSTATES PETROLEUM: Reports $1.79 Billion Net Loss for 2015
------------------------------------------------------------
Midstates Petroleum Company, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $1.79 billion on $365 million of total revenues for the
year ended Dec. 31, 2015, compared to net income of $117 million on
$794 million of total revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Mistates had $679 million in total assets,
$2.00 billion in total liabilities and a total stockholders'
deficit of $1.32 billion.

Deloitte & Touiche LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that Midstates' event of default under
its Credit Facility, a projected additional debt covenant
violation, and resulting lack of liquidity raise substantial doubt
about its ability to continue as a going concern.

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

                       http://is.gd/QcJ5Zy

                 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 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.


MILESTONE SCIENTIFIC: Needs More Time to File 2015 Annual Report
----------------------------------------------------------------
Milestone Scientific Inc. filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended Dec.
31, 2015, stating that:  

"The registrant experienced delay due to a significant amount of
research that was done in order to make sure a complex transaction
was accounted for in accordance with GAAP.  As a result, the
registrant was not able to file the Annual Report on Form 10-K for
the year ended December 31, 2015 (the "Annual Report") by the
filing deadline on March 30, 2016 without unreasonable effort or
expense.  The registrant believes that the Annual Report will be
filed by April 14, 2016."

It is anticipated that the Company will report a net loss of
approximately $5.5 million for the fiscal year ended Dec. 31, 2015,
compared to a net loss of approximately $1.7 million for the prior
fiscal year, an increase of approximately $3.8 million.  The
primary reason for this increase is due to a $2.0 million increase
in selling, general and administrative expenses due to the increase
in personnel for the expected growth in our Medical Business Sector
and additional consulting and legal expenses incurred in 2015.
Additionally, there was an increased loss on earnings from
Milestone Medical Inc., $1.1 million and the increased loss on
earnings for Milestone China Inc., $348,000 over 2014.

                     About Milestone Scientific

Livingston, N.J.-based Milestone Scientific Inc. is engaged in
pioneering proprietary, innovative, computer-controlled injection
technologies and solutions for the medical and dental markets.

The Company reported a net loss attributable to the Company of $1.7
million on $10.33 million of net product sales for the year ended
Dec. 31, 2014, compared to net income attributable to the Company
of $1.46 million on $10.01 million of net product sales for the
year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $14.06 million in total
assets, $2.13 million in total liabilities, all current and $11.9
million in total equity.


MOLYCORP INC: Court Confirms 4th Joint Amended Reorganization Plan
------------------------------------------------------------------
Molycorp, Inc., a global producer of advanced rare earth and rare
metal based engineered materials used in many electronic,
transportation, industrial and clean energy applications, disclosed
that its Fourth Joint Amended Plan of Reorganization ("the Plan")
was confirmed on March 30 by the U.S. Bankruptcy Court for the
District of Delaware.  The confirmation is one of the final steps
before Molycorp will be able to emerge from Chapter 11 protection
as a newly reorganized company.

The confirmed Plan allows Molycorp's downstream business units,
Chemicals & Oxides, Magnequench, and Rare Metals to reorganize
under new ownership with a significantly stronger balance sheet.
The Plan features a settlement agreement between an affiliate of
funds managed by Oaktree Capital Management L.P. ("Oaktree"), a
secured creditor, and unsecured creditors, pursuant to which
Oaktree will receive 92.5% of the equity and the unsecured
creditors will receive 7.5% of the equity in the reorganized
company.  A settlement also was reached on the purchase through a
credit bid by the ad hoc group of the Company's 10% secured
noteholders of the mineral rights and certain intellectual property
of Molycorp Minerals (the "Sale").  The ad hoc group of 10% secured
noteholders was the last major secured creditor group with which
the Company had not reached a settlement in a mediation process
that spanned several months.

Molycorp's Mountain Pass mine was excluded from the Plan, and the
equipment and surface property rights at the mine were excluded
from the Sale.

"The Plan confirmation is a major step forward for the Company,"
stated Geoff Bedford, Molycorp President and Chief Executive
Officer.  "Throughout this nine month process, we have made every
effort to continue to run our business and service our customers
and we thank them for our support and patience.  I also want to
acknowledge all of our advisors and employees who have worked
tirelessly during this time and helped us to reach this day."

When the Plan becomes effective, Molycorp will emerge as a
privately held company with a sustainable balance sheet and strong
financial partners.

Molycorp has been advised by the investment banking firm of Miller
Buckfire & Co. and received financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP served as
legal counsel to the Company in this process.

                      About Molycorp, Inc.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior management members are located at its U.S.
corporate headquarters in Greenwood Village, Colorado.

Molycorp reported a net loss of $623 million in 2014, a net loss of
$377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

Molycorp and its North American subsidiaries, together with certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring.  The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process. Prime Clerk serves as
claims and noticing agent.

Secured creditor Oaktree Capital Management L.P., consented to the
use of cash collateral and to extend postpetition financing.

On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case of
Molycorp Inc. appointed eight creditors of the company to serve on
the official committee of unsecured creditors.  The Creditors
Committee tapped Ashby & Geddes, P.A. and Paul Hastings LLP as
attorneys.

Wells Fargo Bank, the cash collateral lender, is represented in the
case by J. Cory Falgowski, Esq., Eric A. Schaffer, Esq., Roy W.
Arnold, Esq., and Luke A. Sizemore, Esq., at Reed Smith LLP.

                           *     *     *

Judge Christopher Sontchi in Delaware approved the disclosure
statement explaining the Debtors' Plan on Jan. 20, 2016, after the
Debtors revised the Disclosure Statement to incorporate certain
modifications directed by the Court during the Jan. 14 hearing.

The Plan contemplates two possible outcomes: (1) the sale of
substantially all of the Debtors' assets if certain conditions set
forth in the Plan are satisfied and (2) (a) the sale of the assets
associated with the Debtors' Mountain Pass mining facility in San
Bernardino County, California; and (b) the stand-alone
reorganization around the Debtors' other three business units.


MOLYCORP INC: Milbank Advised Oakley in Ch. 11 Case
---------------------------------------------------
Capping its latest major bankruptcy assignment, Milbank, Tweed,
Hadley & McCloyLLP has represented private equity investor Oaktree
Capital Management LP in the successful chapter 11 reorganization
of global metals and mining company Molycorp, Inc.

Molycorp's plan of reorganization was confirmed on March 30,
following a two-day hearing in U.S. Bankruptcy Court for the
District of Delaware.  Under terms of the plan, secured lender
Oaktree, which previously provided debtor-in-possession financing
to Molycorp, was granted a 92.5% equity stake in the reorganized
company, comprised of surviving "neo" rare earth processing
entities and related businesses.

The remaining 7.5% equity was given to unsecured creditors,
including 10% deficiency claim holders.  The unsecured group will
also receive $2 million in cash.

Specializing in the production of customized, rare earth and rare
metal products used for the manufacturing of mobile devices, hybrid
vehicles, GPS systems and other goods, Molycorp and several
affiliates filed a voluntary chapter 11 proceeding in 2015.  At the
time of its petition, the U.S.-Canadian company had approximately
$2.5 billion in assets and $1.8 billion in liabilities.

The approval of the reorganization plan by U.S. Bankruptcy Judge
Christopher S. Sontchi concluded a case that took the nation's only
rare earth mining company into federal court last June.  The
confirmed plan settles all claims against Molycorp by Oaktree as
well as groups representing the company's high-interest noteholders
and unsecured creditors.

Milbank's team on behalf of Oaktree was led by Dennis Dunne, who
heads the firm's Financial Restructuring Group, along with partners
Samuel Khalil (Restructuring), Andrew Leblanc (Litigation), Eric
Reimer (Finance) and Aaron Renenger (Litigation), along with
special counsel Brian Kinney and associate Lauren Doyle.

                           About Milbank

Milbank, Tweed, Hadley & McCloy LLP is an international law firm
that provides innovative legal services to clients around the
world. Founded in New York 150 years ago, Milbank has offices in
Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, Sao
Paulo, Seoul, Singapore, Tokyo and Washington, DC.  Milbank's
lawyers collaborate across practices and offices to help the
world's leading commercial, financial and industrial enterprises,
as well as institutions, individuals and governments, achieve their
strategic objectives.  

                      About Molycorp, Inc.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior management members are located at its U.S.
corporate headquarters in Greenwood Village, Colorado.

Molycorp reported a net loss of $623 million in 2014, a net loss of
$377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

Molycorp and its North American subsidiaries, together with certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring.  The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process. Prime Clerk serves as
claims and noticing agent.

Secured creditor Oaktree Capital Management L.P., consented to the
use of cash collateral and to extend postpetition financing.

On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case of
Molycorp Inc. appointed eight creditors of the company to serve on
the official committee of unsecured creditors.  The Creditors
Committee tapped Ashby & Geddes, P.A. and Paul Hastings LLP as
attorneys.

Wells Fargo Bank, the cash collateral lender, is represented in the
case by J. Cory Falgowski, Esq., Eric A. Schaffer, Esq., Roy W.
Arnold, Esq., and Luke A. Sizemore, Esq., at Reed Smith LLP.

                           *     *     *

Judge Christopher Sontchi in Delaware approved the disclosure
statement explaining the Debtors' Plan on Jan. 20, 2016, after the
Debtors revised the Disclosure Statement to incorporate certain
modifications directed by the Court during the Jan. 14 hearing.

The Plan contemplates two possible outcomes: (1) the sale of
substantially all of the Debtors' assets if certain conditions set
forth in the Plan are satisfied and (2) (a) the sale of the assets
associated with the Debtors' Mountain Pass mining facility in San
Bernardino County, California; and (b) the stand-alone
reorganization around the Debtors' other three business units.


MOLYCORP INC: Wells Fargo, Noteholders vs. Collateral Surcharge
---------------------------------------------------------------
Wells Fargo Bank, National Association and the ad hoc group of
holders of the 10% senior secured notes submitted to the U.S.
Bankruptcy Court for the District of Delaware, their respective
objections to Debtors Molycorp, Inc., et. al.'s Motion seeking
authorization to surcharge certain collateral.

Wells Fargo Bank, National Association, avers that the Debtors
should not be permitted to surcharge the "10% Notes Collateral" for
these reasons:

   (1) The Debtors previously waived their right to surcharge any
prepetition collateral, including the pari passu collateral, unless
the applicable secured party consents to such surcharge, and

   (2) The Collateral Agent, which holds legal title to the liens
and security interests in the pari passu collateral in trust for
the equal and ratable benefit of the 10% Noteholders and Oaktree,
has not consented, and will not consent, to a surcharge.

Wells Fargo contends that the Debtors' Motion should be denied
because the Debtors are barred from surcharging the pari passu
collateral by their prior waiver.

The Ad Hoc 10% Noteholders also argues that the Debtors' Motion
should be denied:

   (1) The Final DIP Order waives surcharge with respect ot the
"Prepetition Collateral," which includes the collateral that is
secured by a single lien for the benefit of Oaktree and the 10%
Notes. The waiver does not identify Oaktree by name, or otherwise
suggest that surcharge against the shared collateral was only
waived for Oaktree.

   (2) Even if the Debtors, Oaktree, and the Official Committee of
Unsecured Creditors had intended to exclude the 10% Notes from the
waiver in the Final DIP Order, they could not have achieved their
intended result.  As a matter of law, there is only one "secured
claim" against the shared collateral, and that secured claim cannot
be split so that the waiver applied to some creditors but not
others.

   (3) The Surcharge Motion exclusively identifies costs incurred
by Molycorp Minerals, LLC, with respect to Mountain Pass, yet seeks
to surcharge collateral that is unrelated to Mountain Pass held by
Molycorp, Inc.  Such cross-debtor surcharge would defy the text and
purpose of Section 506(c) of the Bankruptcy Code, which the Supreme
Court has strictly construed.

   (4) The Surcharge Motion demands for the first time – months
after bidding procedures were agreed, and a week after no cash bids
were received for the Molycorp Minerals Assets – that the Ad Hoc
10% Noteholders pay at least $30 million in cash as condition to
credit bidding for the assets that are the basis for the motion.
The Ad Hoc 10% Noteholders credit bid only $1 million for those
assets.  This demand is therefore illogical, unprecedented, and
abusive.

   (5) The Surcharge Motion is moot.  The 10% Noteholders no longer
seek ownership of the real estate and mining facility at Mountain
Pass.  Accordingly, the 10% Notes will not receive any of the
"benefits" alleged in the Surcharge Motion.

Wells Fargo Bank, National Association, is represented by:

          J. Cory Falgowski, Esq.
          REED SMITH LLP
          1201 Market Street, Suite 1500
          Wilmington, DE 19801
          Telephone: (302)778-7500
          Facsimile: (302)778-7575
          E-mail: jfalgowski@reedsmith.com

               - and -

          Eric A. Schaffer, Esq.
          Luke A. Sizemore, Esq.
          REED SMITH LLP
          225 Fifth Avenue, Suite 1200
          Pittsburgh, PA 15222
          Telephone: (412)288-3131
          Facsimile: (412)288-3063
          E-mail: eschaffer@reedsmith.com
                  lsizemore@reedsmith.com

The Ad Hoc Group of Holders of the 10% Senior Secured Notes issued
by Molycorp, Inc., is represented by:

          Laura Davis Jones, Esq.
          James E. O'Neill, Esq.
          Colin R. Robinson, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          919 N. Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705 (Courier 19801)
          Telephone: (302)652-4100
          Facsimile: (302)652-4400
          E-mail: ljones@pszjlaw.com
                 jo'neill@pszjlaw.com
                 crobinson@pszjlaw.com

               - and -

          Thomas Moers Mayer, Esq.
          Gregory Horowitz, Esq.
          Joshua K. Brody, Esq.
          Andrew M. Dove, Esq.
          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Telephone: (212)715-9100
          Facsimile: (212)715-8000
          E-mail: tmayer@kramerlevin.com
                  ghorowitz@kramerlevin.com
                  jbrody@kramerlevin.com
                  adove@kramerlevin.com

                       About Molycorp, Inc.

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare  
earths and rare metals producer.  Molycorp owns several prominent
are earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior management members are located at its U.S.
corporate headquarters in Greenwood Village, Colorado.

Molycorp reported a net loss of $623 million in 2014, a net loss
of
$377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

Molycorp and its North American subsidiaries, together with
certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring. The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process. Prime Clerk serves as
claims and noticing agent.

Secured creditor Oaktree Capital Management L.P., consented to the
use of cash collateral and to extend postpetition financing.

On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case of
Molycorp Inc. appointed eight creditors of the company to serve on
the official committee of unsecured creditors.

                           *     *     *

Sureties Ironshore Indemnity, Inc., et al., on March 21, 2016,
filed a motion asking the U.S. Bankruptcy Court for the District of
Delaware to direct the appointment of an examiner in Molycorp
Minerals, LLC, as well as extend the objection deadlines and
adjourn the hearing dates for plan confirmation.  The Sureties
contend that in order for the plan confirmation process to proceed
expeditiously with the transparency that is required under the
Bankruptcy Code, the request that the Court direct the appointment
of an examiner under 11 U.S.C. Section 1104(c) for the limited
scope of examining and reporting on the value of the Molycorp
Minerals, LLC ("Molycorp Minerals") Intellectual Property ("IP"),
IP Issues, and proposed Molycorp Silmet AS transaction.

Bankruptcy Judge Christopher Sontchi approved Molycorp's plan to
exit Chapter 11 bankruptcy following a two-day trial that began
March 29, 2016.  Under the Plan, unsecured creditors (including
deficiency claims arising from the 10% senior secured notes) would
receive 7.5% of the reorganized company's equity in the event of a
standalone reorganization plan, with lender Oaktree Capital
Management receiving 92.5% of the reorganized equity.  If there is
a sale of the entire company under the plan, unsecured creditors
(again, including deficiency claims) would receive 7.5% of the
proceeds of the sale, with Oaktree receiving 92.5%.


MOLYCORP: Wants Tolleson Assets Sold to Eutectix for $2.5M
----------------------------------------------------------
Molycorp, Inc. and its affiliated debtors ask the U.S. Bankruptcy
Court to authorize the sale of the assets of debtor Molycorp Metals
& Alloys, Inc. located in Tolleson, Arizona ("Tolleson Assets") to
Eutectix, LLC, free and clear of liens, claims, interests and
encumbrances.

The Tolleson Assets generally are comprised of (a) seven acres of
real property, (b) various manufacturing, research and
administrative buildings on the real property and (c) the equipment
and inventory necessary to the operation of the Tolleson Business.
The Tolleson Business uses vacuum induction melting furnaces to
produce a wide variety of rare earth alloys, complex custom-made
alloys, non-rare earth products containing exotic alloys such as
Ni-based and Co-based super-alloys and experimental binary and
ternary alloys for universities and governmental agencies.

The Asset Purchase Agreement contains, among others, these material
terms:

     (a) Purchase Price: $2,500,000 and the assumption of certain
liabilities.

     (b) Deposit: $250,000

     (c) Assumed Liabilities: All Liabilities, other than Excluded
Liabilities, arising from the ownership or operation of the
Tolleson Assets or the Tolleson Business on or after the Closing
and any Transfer Taxes.

     (d) Excluded Liabilities: Any and all Liabilities of Molycorp
Metals & Alloys arising out of, relating to or otherwise in respect
of the Tolleson Assets arising prior to the Closing, and all other
Liabilities of Molycorp Metals & Alloys, other than the Assumed
Liabilities.

The Debtors explain that the Tolleson Business has been losing
money for the Debtors for the last two years and has seen its sales
diminish significantly.  The Debtors note that while the Tolleson
Business has been able to finance itself for the last several
months by taking drastic cost cutting measures, terminating
employees and selling existing inventory, the Tolleson Business
will require additional financing when that inventory is exhausted
and its cash is depleted -- additional financing the Debtors are
unable to provide at this time.

The Debtors tell the Court that the purchase price under the
Purchase Agreement is the highest and best received after months of
marketing, both by the Debtors and their investment banker.  After
analyzing all potential options, the Debtors have determined, in
their reasonable business judgment and after consultation with
their professional advisors, that the sale of the Tolleson Assets
pursuant to the Purchase Agreement is the best path forward to
maximize creditor recoveries and is the highest and best value that
can be realized.

The Debtors' Motion is scheduled for hearing on April 8, 2016, at
1:00 p.m.  The deadline for the submission of objections to the
Motion is set on April 1, 2016.

Molycorp, Inc., and its affiliated debtors are represented by:

          M. Blake Cleary, Esq.
          Edmon L. Morton, Esq.
          Justin H. Rucki, Esq.
          Ashley E. Jacobs, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          E-mail: mbcleary@ycst.com
                  emorton@ycst.com
                  jrucki@ycst.com
                  ajacobs@ycst.com

               - and -

          Brad B. Erens, Esq.
          Joseph M. Miller, Esq.
          JONES DAY
          77 West Wacker
          Chicago, IL 60601
          Telephone: (312)782-3939
          Facsimile: (312)782-8585
          E-mail: bberens@jonesday.com

               - and -

          Paul D. Leake, Esq.
          Lisa Laukitis, Esq.
          George R. Howard, Esq.
          JONES DAY
          222 East 41st Street
          New York, NY 10017
          Telephone: (212)326-3939
          Facsimile: (212)755-7306
          E-mail: pdleake@jonesday.com
                  llaukitis@jonesday.com
                  grhoward@jonesday.com


N-VIRO INTERNATIONAL: Delays Filing of 2015 Annual Report
---------------------------------------------------------
N-Viro International Corporation filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its annual report on Form 10-K for the year ended
Dec. 31, 2015.  The Company said it was unable to complete the
preparation of the financial statement within the required time
period without unreasonable effort or expense, due to delays in
gathering and the audit of financial information needed to complete
the preparation and inclusion of the required financial statement.

                    About N-Viro International

Toledo, Ohio-based N-Viro International Corporation owns and
sometimes licenses various N-Viro processes and patented
technologies to treat and recycle wastewater and other bio-organic
wastes, utilizing certain alkaline and mineral by-products
produced by the cement, lime, electrical generation and other
industries.

N-Viro International reported a net loss of $1.76 million on $1.33
million of revenues for the year ended Dec. 31, 2014, compared to a
net loss of $1.64 million on $3.37 million of revenues for the year
ended Dec. 31, 2013.

UHY LLP, in Farmington Hills, Michigan, 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 cash flow from operations and net working capital
deficiency raise substantial doubt about its ability to continue as
a going concern.


NAS HOLDINGS: Case Summary & 9 Unsecured Creditors
--------------------------------------------------
Debtor: NAS Holdings, Inc.
        3629 Forsythia Trail
        Clemmons, NC 27012

Case No.: 16-50346

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Middle District of North Carolina (Winston-Salem)

Judge: Hon. Catharine R. Aron

Debtor's Counsel: Kenneth Love, Esq.
                  LOVE AND DILLENBECK LAW, PLLC
                  P.O. Box 779
                  Rural Hall, NC 27045
                  Tel: 336-210-1853
                  Fax: 336-464-2172
                  E-mail: consumerattorneylove@gmail.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Neeket Vadgama, vice president.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/ncmb16-50346.pdf


NATURAL MOLECULAR: Redmond Seeks to Foreclose on Wash. Property
---------------------------------------------------------------
Redmond Funding Group, LLC, asks the U.S. Bankruptcy Court to lift
the automatic stay imposed in the Chapter 11 cases of Natural
Molecular Testing Corp., to permit it to exercise its foreclosure
rights as a secured creditor and as the beneficiary of two deeds of
trust encumbering certain real property located in Douglas County,
Washington.

Redmond Funding tells the Court that the Debtor as a junior
lienholder does not have equity in its subordinate lien encumbering
the Property as it holds a materially defaulted subordinate deeds
of trust of two priority liens held by Redmond Funding.  

Moreover, Redmond Funding asserts that the Debtor's debt to Redmond
Funding is increasing at a rate of approximately $15,608 per month
and the Debtor cannot produce any evidence or demonstrate that it
has adequate funds or resources to protect its junior deed of trust
lien as it has taken no action to foreclose or protect its lien by
making adequate protection payments to Redmond Funding.

According to Redmond Funding, the economic value of the Debtor's
deed of trust lien is tied to its ability to pay the full balance
due to Redmond Funding, however, the Debtor has no present ability
to foreclose the Debtor's Deed of Trust because the obligations
secured by such deed of trust are contingent upon first obtaining a
judgment in the applicable adversary proceeding, hence the need to
immediately commence a foreclosure and enforcement proceedings.  

Redmond Funding stresses that if it is prohibited from foreclosing
the Redmond Funding Deeds of Trust it will continue to harm Redmond
Funding materially considering that the debt secured by its Deeds
of Trust presently exceeds the fair market value of the Property
and no equity remains in the Property to be secured by the Debtor's
Deed of Trust.

Redmond Funding Group, LLC is represented by:

     Mark J. Rosenblum
     EISENHOWER CARLSON PLLC
     1200 Wells Fargo Plaza
     1201 Pacific Avenue
     Tacoma, WA 98402
     Telephone: 253-572-4500
     Facsimile: 253-272-5732
     Email: mrosenblum@eisenhowerlaw.com

        About Natural Molecular

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

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


NEPHROS INC: Reports $3.08 Million Net Loss for 2015
----------------------------------------------------
Nephros, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $3.08
million on $1.94 million of total net revenues for the year ended
Dec. 31, 2015, compared to a net loss of $7.37 million on $1.74
million of total net revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $3.97 million in total assets,
$1.30 million in total liabilities and $2.66 million in total
stockholders' equity.

Withum Smith+Brown, PC, in Morristown, New Jersey, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has incurred
negative cash flow from operations and recurring net losses since
inception.  These conditions, among others, raise substantial doubt
about its ability to continue as a going concern.

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

                      http://is.gd/CXBI8R

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.


NET DATA: Exclusivity Plan Proposal Period Extended to June 1
-------------------------------------------------------------
Judge Sheri Bluebond of the U.S. Bankruptcy Court for the Central
District of California, approved a stipulation submitted by Net
Data Centers, Inc., the Official Committee of Creditors Holding
Unsecured Claims, and DuPont Fabros Technology, L.P. and its
affiliates, in relation to the extensions of the Debtor's Plan and
Disclosure Statement filing deadlines and the extension of
exclusivity.

The Stipulation also provided for the continuances pending the
conclusion of the mediation between the parties, which the Debtor,
the Committee and DFT have rescheduled for May 4 and 5, 2016.

Judge Bluebond ordered the extension of the Debtor's plan filing
and plan acceptance exclusivity periods to June 1, 2016, and Aug.
1, 2016, respectively.  Judge Bluebond further ordered that the
Chapter 11 case status hearing and disclosure statement approval
hearing set for April 13, 2016 at 2:00 p.m., will be continued to
July 6, 2016 at 2:00 p.m.  She directed the Debtor to file an
updated status report with the Court by June 22, 2016, to report on
the results of the May 2016 mediation and other pertinent matters.

The Parties entered into the Stipulation after learning that their
approved mediator, former U.S. Bankruptcy Judge John E. Ryan, had
suddenly taken ill and had gone to the hospital for treatment.

Net Data Centers, Inc., is represented by:

          Paul A. Beck, Esq.
          Lewis R. Landau, Esq.
          LAW OFFICES OF PAUL A. BECK, APC
          13701 Riverside Drive, Suite 701
          Sherman Oaks, CA 91423
          Telephone: (818) 501-1141
          Facsimile: (818) 501-1241
          E-mail: pab@pablaw.org
                  lew@landaunet.com

                      About Net Data Centers

Net Data Centers, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Cal. Case No. 15-12690) on Feb. 23, 2015.  Pervez P.
Delawalla, the president & CEO, signed the petition.  The Hon.
Sheri Bluebond is assigned to the case.  William F Govier, Esq.,
at
Lesnick Prince & Pappas LLP, serves as counsel to the Debtor.

The Debtor disclosed, in its amended schedules, $9,566,908 in
assets and $13,352,373 in liabilities.  In its original schedules,
the Debtor disclosed $9,110,070 in assets and $5,236,687 in
liabilities.  

The U.S. trustee appointed three creditors to serve on the
Official
Committee of Unsecured Creditors.  The Committee is represented by
Buchalter Nemer, APC.


NET ELEMENT: Reports $13.3 Million Net Loss for 2015
----------------------------------------------------
Net Element, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$13.3 million on $40.2 million of total revenues for the year ended
Dec. 31, 2015, compared to a net loss of $10.21 million on $21.4
million of total revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $22.9 million in total assets,
$13.9 million in total liabilities and $9.04 million in total
stockholders' equity.

Daszkal Bolton LLP, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has sustained
recurring losses from operations and has working capital and
accumulated deficits that raise substantial doubt about its ability
to continue as a going concern.

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

                       http://is.gd/zqhtuE

                         About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.


NEW GULF RESOURCES: Defends Baker Botts Fee Premium
---------------------------------------------------
New Gulf Resources, LLC, et al., said in a court filing that the
employment of Baker Botts is warranted and consideration of the fee
premium prior to the final fee hearing would be premature.

On Dec. 19, 2015, the Debtors filed an application to employ Baker
Botts L.L.P. as counsel.  The Office of the United States Trustee
subsequently filed an objection with respect to the Fee Premium
component of Baker Botts' compensation.  The Court ultimately
entered an order approving the terms of the Application except for
the Fee Premium, reserving consideration, authorization, and
approval of the Fee Premium for a later date after notice and
hearing.

On Feb. 1, 2016, the Court docketed a letter indicating that it
agreed with the recent holding in Boomerang Tube, Inc., Case No.
15-11247 (MFW) finding that "retention provisions that provide for
payment for fee defense litigation run afoul of the binding ruling
in ASARCO and are not otherwise permitted under Sec. 328 and 330."

On Feb. 8, 2016, the Court held a telephonic conference and
discussed the Court's Feb. 1 letter with Baker Botts and the U.S.
Trustee.  The Court invited Baker Botts to file a responsive brief,
with reply to follow from the U.S. Trustee if and when so directed
by the Court.

Baker Botts states that the Fee Premium is not compensation for fee
defense costs, and as such, neither the Supreme Court's decision in
ASARCO nor the recent Delaware bankruptcy court decision in
Boomerang has any bearing on the consideration of this issue.
Rather, the question before the Court is whether, pursuant to
Sections 327 and 330, professional fees can include a market-driven
premium that increases the hourly rates by ten percent. Resolution
of that question turns on only one issue: is the total compensation
"reasonable compensation" pursuant to section 330(a)(1)(A).

According to Baker Botts, the Fee Premium is reasonable
compensation when taking into account that: (i) other professionals
in complex cases charge comparable or even higher rates; (ii) Baker
Botts charges a comparable rate to other clients; and (iii) the
current oil and gas crisis has increased the overall demand for
Baker Botts' restructuring professionals.

"Notwithstanding these factors, a final determination of
reasonableness under Section 330 is not ripe until the conclusion
of the bankruptcy case; any decision regarding the Fee Premium
prior to that time is premature.  Indeed, the potential waiver of
the Fee Premium reinforces Baker Botts' position that the
determination of reasonableness at this time is not ripe.  It is
difficult to imagine that any party would contend that ASARCO or
Boomerang would have any bearing on this dispute had Baker Botts
merely increased its rates by 10 percent and not also agreed to a
waiver of the premium under specified circumstances.  It would be a
perverse outcome if a professional's compensation structure was
denied solely because it had agreed to reduce its fees under
certain circumstances; such a ruling would only encourage
professionals to drop the waiver in the future and seek approval of
the Fee Premium in all circumstances.  Such an outcome would be a
disservice to clients and is not compelled by the rationale of
either ASARCO or Boomerang.  Rather, the Court should award, or
deny, Baker Botts' compensation by applying the reasonableness
standard under Section 330 at the conclusion of the case," the firm
tells the Court.

                     About New Gulf Resources

Founded in 2011 and headquartered in Tulsa, Oklahoma, New Gulf
Resources is an independent oil and natural gas company engaged in
the acquisition, development, exploration and production of oil
and natural gas properties, focused primarily in the East Texas
Basin.

New Gulf Resources, LLC, NGR Holding Company LLC, NGR Texas, LLC,
and NGR Finance Corp. filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Lead Case No. 15-12566) on Dec. 17, 2015.  The
petitions was signed by Danni Morris as chief financial officer.

The Debtors have engaged Baker Botts L.L.P., as bankruptcy
counsel, Young, Conaway, Stargatt & Taylor, LLP as co-counsel,
Barclays Capital Inc., as investment banker, Zolfo Cooper, LLC as
financial advisor, and Prime Clerk LLC as claims and notice agent.
Judge Brendan Linehan Shannon has been assigned the case.

                           *     *     *

The Debtors negotiated a Chapter plan of reorganization
that contemplates the raising of new capital through a rights
offering and the conversion of necessary debtor-in-possession
financing into flexible exit financing. The Debtors won approval
assume a backstop note purchase agreement with entities that have
agreed to support the $50 million rights offering.  The Debtors on
March 4, 2016 announced an extension of the rights offering
maturity date to March 24.


NEW GULF RESOURCES: Grant Thornton Okayed as Independent Auditor
----------------------------------------------------------------
New Gulf Resources, LLC and its debtor affiliates received approval
to employ Grant Thornton LLP as independent auditor.

The Debtors have employed Grant Thornton since Dec. 6, 2011 to
provide audit services.  They now need to the firm to complete an
audit of their consolidated balance sheet as of December 31, 2015,
and consolidated statements of operations, members' equity and cash
flows for the year then ended.

Grant Thornton estimates that the total cost of its 2015 audit
services will be $180,000, based on its standard hourly rates for
this type of work, ranging from $120 to $180 per hour.  New Gulf
will pay Grant Thornton a $45,000 retainer before the commencement
of work.

John H. Meinders -- john.meinders@us.gt.com -- a partner at the
firm, says Grant Thornton Grant Thornton (a) does not hold or
represent any interest adverse to the Debtors' estates and (b) is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code, as modified by Section 1107(b).

                     About New Gulf Resources

Founded in 2011 and headquartered in Tulsa, Oklahoma, New Gulf
Resources is an independent oil and natural gas company engaged in
the acquisition, development, exploration and production of oil
and
natural gas properties, focused primarily in the East Texas Basin.

New Gulf Resources, LLC, NGR Holding Company LLC, NGR Texas, LLC,
and NGR Finance Corp. filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Lead Case No. 15-12566) on Dec. 17, 2015.  The
petitions was signed by Danni Morris as chief financial officer.

The Debtors have engaged Baker Botts L.L.P., as bankruptcy
counsel, Young, Conaway, Stargatt & Taylor, LLP as co-counsel,
Barclays Capital Inc., as investment banker, Zolfo Cooper, LLC as
financial advisor, and Prime Clerk LLC as claims and notice agent.
Judge Brendan Linehan Shannon has been assigned the case.

                           *     *     *

The Debtors negotiated a Chapter plan of reorganization
that contemplates the raising of new capital through a rights
offering and the conversion of necessary debtor-in-possession
financing into flexible exit financing. The Debtors won approval
assume a backstop note purchase agreement with entities that have
agreed to support the $50 million rights offering.  The Debtors on
March 4, 2016 announced an extension of the rights offering
maturity date to March 24.


NEWZOOM INC: Court Approves FTI Consulting Employment
-----------------------------------------------------
The Hon. Hannah L. Blumenstiel of the U.S. Bankruptcy Court for the
Northern District of California approved Newzoom, Inc.'s engagement
contract with FTI Consulting Inc.

The engagement contract requires FTI to provide Andrew Hinkelman as
chief restructuring officer to the Debtor and additional personnel
to assist the CRO.

Andrew Hinkelman, a senior managing director of FTI, tells the
Court that prior to and after the Petition Date, FTI provided and
continues to provide restructuring management services, crisis
management services, and CRO services including, but not limited to
these:

* Liquidity Forecasting

   -- Evaluate and manage cash flow.

   -- Approve, manage, and control cash disbursements.

   -- Evaluate and control cash conservation measures and assist  

      with implementation of cash forecasting and reporting tools
      as requested.

   -- Preparation and negotiation of financing budgets and related

      documents.

* Restructuring / Other Services

   -- Assess potential EBITDA based on revenue and product line
      strategy and other restructuring initiatives.

   -- Development of go forward business and restructuring plans,
      including without limitation the development of a written
      assessment of the future prospects of the business, the
      related working capital needs and a recommendation of how
      the Company can best be restructured to realize value.

   -- Analyze long term capital needs to effectuate a capital
      raise, sale transaction, or restructuring.

   -- Develop working capital management tools.

   -- Participate in development of strategy to negotiate with key

      stakeholders in order to effectuate a capital raise, sale
      transaction, or restructuring.

   -- Evaluate and manage the inflows and outflows of cash.
Chapter 11 Execution Services

   -- Assist Company personnel with the communications and
      negotiations with lenders, creditors, and other parties-in-
      interest including the preparation of financial information
      for distribution to such parties-in-interest.

   -- Lead the compilation and preparation of financial
      information, statements, schedules and monthly operating
      reports necessary due to requirements of the
      Bankruptcy Court and/or Office of the US Trustee.

   -- Assist the Company and its other advisors with the
      formulation of a chapter 11 plan of
      reorganization/liquidation and the preparation of the
      corresponding disclosure statement.

   -- Prepare a liquidation analysis for a reorganization plan and

      negotiation purposes.

   -- Assist the Company in managing and executing the
      reconciliation process involving claims filed by all
      creditors.

   -- Provide testimony in the chapter 11 case as necessary or
      appropriate at the Company's request.

In the context of the Chapter 11 case, Mr. Hinkelman will continue
to operate in the capacity of CRO and he will:

   -- Report directly to the Board of Directors of the Debtor and
make recommendations thereto and consult therewith regarding his
activities and the services.

   -- Work on a collaborative basis with senior executives of the
Debtor, coordinate the restructuring efforts of the Debtor, subject
to the reporting structure above, including the identification,
development, and implementation of strategies
related to the Debtor's debt obligations, business plan, and other
related matters.

   -- In consultation with the Debtor's senior executives,
coordinate and manage the services as discussed above and the FTI
professional staff on the engagement.

To address and handle the responsibilities on behalf of the Debtor,
he will be assisted by Additional Personnel provided through FTI at
various levels.

These FTI employees will provide restructuring services to the
Debtor as additional personnel:

   1. Brandon Beal - managing director.  Mr. Beal's services will
include engagement oversight, cash management, financial reporting,
budgeting and financial analysis, third party negotiations, among
other services as contemplated by the Engagement Contract.

   2. Zach Contreras - consultant.  Mr. Contreras's services will
include cash management and variance reporting, landlord financial
review, accounting assistance, projection modeling, among other
services as contemplated by the Engagement Contract.

   3. Will Breashears - consultant (part time). Mr. Breashears'
services will include Bankruptcy reporting.

Per the terms of the Engagement Contract, FTI commenced providing
services on or about Aug. 5, 2015.  FTI invoiced the Debtor for
crisis management related services and received payments.

FTI has waived the right to payment of any and all claims that were
not paid.

To the best of the Debtors' knowledge, neither FTI, nor  Mr.
Hinkelman represents an interest adverse to the Debtor's estate
with respect to the matters upon which they are to be engaged.

                  Objection of the U.S. Trustee

On Oct. 29, 2015, Tracy Hope Davis, the U.S. Trustee for Region 17,
requested that the Court deny the CRO motion because the Debtor
sought to employ FTI and Mr. Hinkleman as its corporate
restructuring officer under Section 363.  Rather than seek
employment under Section 327(a) as an estate professional.  The
motion and supporting documents fail to provide the transparency
and disclosures necessary to evaluate the relief requested.

The Court on Oct. 29, vacated an order approving the engagement
contract of FTI as improvidently entered.  The vacated order was
entered on Oct. 21, 2015.

On Oct. 16, Mr. Hinkelman submitted a supplemental declaration
stating that the original declaration filed in support of the
motion contains an error in the final bullet point of paragraph 13.
When the monies held in Pachulski Stang Ziehl & Jones LLP's trust
account for professional fees were allocated prepetition, $60,000
(not $65,000), was used by FTI to pay fees and expenses incurred
prior to the petition date.

The U.S. Trustee is represented by:

         Donna S. Tamanaha, Esq.
         Assistant United States Trustee
         Julie M. Glosson, Esq.
         Trial Attorney
         United States Department of Justice
         Office of the U.S. Trustee
         235 Pine Street, Suite 700
         San Francisco, CA 94104
         Tel: (415) 705-3333
         Fax: (415) 705-3379
         E-mail: julie.m.glosson@usdoj.gov

The Debtor is represented by:

         John D. Fiero, Esq.
         Debra I. Grassgreen, Esq.
         John W. Lucas, Esq.
         Jason H. Rosell, Esq.
         PACHULSKI STANG ZIEHL & JONES LLP
         150 California Street, 15th Floor
         San Francisco, CA 94111
         Tel: (415) 263-7000
         Fax: (415) 263-7010
         E-mails: jfiero@pszjlaw.com
                  dgrassgreen@pszjlaw.com
                  jlucas@pszjlaw.com
                  jrosell@pszjlaw.com

Mr. Hinkelman may be reached at:

         Andrew J. Hinkelman
         Senior Managing Director
         FTI CONSULTING
         Tel: (415) 283-4200
         Fax: (415) 293-4497
         Email: andrew.hinkelman@fticonsulting.com

Mr. Beal may be reached at:

         Brandon Beal
         Managing Director
         FTI CONSULTING
         Tel: (415) 283-4200
         Fax: (415) 293-4497
         Email: brandon.beal@fticonsulting.com

              About NewZoom

Headquartered in San Francisco, California, NewZoom, doing business
as ZoomSystems, operates an automated retail channel.  It operates
ZoomShops, a custom-branded automated self-service retail stores
that facilitates online shopping.  It has ZoomShop network
locations in airports, malls, resorts, military bases, and retail
stores in the United States, Europe, and Japan.  The Debtor employs
approximately 115 people.

NewZoom, Inc. filed Chapter 11 bankruptcy petition (Bankr. N.D.
Calif. Case No. 15-31141) on Sept. 10, 2015.  The petition was
signed by John A. Lawrence, the president and CEO.  The case is
assigned to Judge Hannah L. Blumenstiel.

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

Pachulski Stang Ziehl & Jones LLP serves as counsel to the Debtor.

Prime Clerk LLC acts as the claims and noticing agent.

The Official Committee of Unsecured Creditors tapped Sheppard
Mullin Richter & Hampton LLP as attorneys.

MIHI LLC is providing $3.7 million to finance the Chapter 11
effort.


NNN DORAL COURT 3: Trustee Serving as Plan Administrator
--------------------------------------------------------
Barry E. Mukamal, the Chapter 11 Trustee of NNN Doral Court 3, LLC,
et al., won an order confirming his proposed Plan of Liquidation
for the Debtors.  No party-in-interest objected to the Chapter 11
Trustee Affidavit or requested any cross-examination of the Chapter
11 Trustee at the confirmation hearing.  The Plan provides that the
secured tax claims, the secured claims, unsecured claims, and
holders of equity interests are unimpaired.  The claim holders are
to be paid from the proceeds of the sale of the Debtors' property.
The Plan provides that Mr. Mukamal will serve as Plan Administrator
after the post-confirmation Effective Date of the Plan.

A copy of the Plan of Liquidation is available at:

       http://bankrupt.com/misc/NNN_Doral_172_Plan.pdf

A copy of the Plan Confirmation Order is available at:

       http://bankrupt.com/misc/NNN_Doral_216_Plan_Conf_Order.pdf

The Chapter 11 Trustee's attorneys:

         KOYAK TROPIN & THROCKMORTON, LLP
         Charles W. Throckmorton, Esq.
         David Samole, Esq.
         2525 Ponce De Leon Blvd., 9th Floor
         Miami, Florida 33134
         Tel: (305) 372-1800
         E-mail: cwt@kttlaw.com
                 das@kttlaw.com

                      About NNN Doral Court 3

NNN Doral Court 3, LLC, et al., are tenants in common, who own as
their primary asset a 209,000 sq. ft. commercial office building
and approximately 9.4 acres of land located at 8600 N.W. 36th
Street, Doral, Florida 33166.

NNN Doral Court 3, LLC, and 28 affiliates filed for Chapter 11
protection (Bankr. S.D. Fla.) on Aug. 6, 2015.  The petitions were
signed by Randy George, manager and authorized bankruptcy
representative.  On Aug. 11, 2015, the Court entered an order
jointly administering the related bankruptcy cases, designating
Case No. 15-24228 as the lead case.

Geoffrey S. Aaronson, Esq., Jeremy D. Evans, Esq., Tamara D.
McKeown, Esq., Lawrence M. Schantz, Esq., at Aaronzon Schantz
Beiley P.A., serve as counsel to the Debtors.

NNN Doral Court 3 estimated assets and debt at $10 million to
$50 million.

Barry E. Mukamal was appointed as Chapter 11 Trustee.  The Trustee
tapped Koyak Tropin & Throckmorton, LLP, as counsel.  The Trustee
also won approval to employ (i) Blaine Vermeulen of All Systems,
Inc. d/b/a Vermeulen Associates, as claims consultant and public
adjuster; (ii) Michael J. Buzzella and Urban Property Management,
LLC as property manager; (iii) William C. Harris, Esq., of Merlin
Law Group, P.A., and Andrew D. Wyman, Esq. of Damaso W. Saavedra,
P.A. d/b/a Saavedra Goodwin, as special litigation counsel; Donald
Ginsburg of Realty Masters Advisors, LLC, as real estate broker;
and Jerry Markowitz, as special real estate counsel.


NORTH AMERICAN REALTY: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: North American Realty Group Inc.
        a Michigan corporation
        6339 Jonathan
        Dearborn, MI 48126

Case No.: 16-44866

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Hon. Walter Shapero

Debtor's Counsel: Michael Zeluff, Esq.
                  MICHAEL D. ZELUFF
                  18501 West Ten Mile Road
                  Southfield, MI 48075
                  Tel: (586) 489-7987
                  E-mail: mdzeluff@yahoo.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Rashid Al-Mehdi, president.

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


NORTH LAS VEGAS, NV: Fitch Affirms 'B' Rating on LTGO Bonds
-----------------------------------------------------------
Fitch Ratings has affirmed the following North Las Vegas, NV (the
city) limited tax general obligations (LTGOs) at 'B':

-- $128.4 million LTGO bonds (additionally secured by
    consolidated tax pledged revenues);

-- $278.4 million LTGO water and wastewater improvement bonds
    (additionally secured by water and wastewater system pledged
    revenues).

The Rating Outlook is Stable.

SECURITY

The bonds are backed by the full faith and credit of the city,
subject to Nevada's constitutional and statutory limitations on the
aggregate amount of ad valorem property taxes. As noted above, the
bonds are additionally backed either by an irrevocable pledge of
and lien on certain consolidated tax revenues (15% of these
revenues) or by water/wastewater system net revenues.

KEY RATING DRIVERS

MEANINGFUL SOLUTIONS OUTSIDE CITY CONTROL: The 'B' rating continues
to reflect Fitch's view that the city has virtually no remaining
budget flexibility. Given tax caps and the scope of service cuts
already made, Fitch believes any meaningful solutions are outside
the city's control.

UTILITY PROVIDES CRUCIAL LIQUIDITY: Unrestricted balances in the
utility fund serve as the city's only meaningful source of
liquidity and are at just adequate levels to support governmental
operations over the intermediate term. Under current state law,
these must be eliminated by fiscal 2021.

WEAK AND CONCENTRATED ECONOMY; FUTURE UNCERTAIN: The city and
region's economy were among the hardest hit in the U.S. by the
collapse of the housing market with a combined loss of 56% of
taxable assessed valuation (TAV). While TAV has rebounded some,
Fitch is concerned that long-term economic growth will remain weak.


GROWING LONG-TERM LIABILITIES: Debt is high relative to the tax
base, amortization is slow and debt service is escalating in the
intermediate term. Carrying costs, including debt and retiree
liabilities, are expected to increase with rising debt and pension
payments.

NO ENHANCEMENT FOR ADDITIONAL PLEDGES: Fitch does not believe the
additional pledges of consolidated tax and water/wastewater
revenues provide sufficient additional strength to warrant higher
ratings than that of the LTGO given the ongoing use of utility cash
to support general fund operations.

RATING SENSITIVITIES

TRANSFER REDUCTION: Positive rating action could result if the city
is able to implement a medium-term plan to address the required
reduction in utility transfers by fiscal 2021.

ECONOMIC VULNERABILITY: Fitch believes the fragile economy leaves
the city ill-prepared to manage any further contractions before the
economy has more fully recovered. A near-term down cycle in the
economy would likely result in further financial stress and a
rating downgrade.

CREDIT PROFILE

North Las Vegas encompasses approximately 100 square miles in Clark
County with a population of 227,585. The city is approximately 43%
built out with a large quantity of undeveloped land. The city has
nearly doubled in population since 2000 but growth slowed with the
housing and economic downturn. The regional economy is dominated by
tourism and gaming, both of which experienced significant revenue
and employment declines but appear to be stabilizing.

STRUCTURAL IMBALANCE; HEALTHY UTILITY BALANCES SUPPORT LIQUIDITY
The city's forecast through fiscal 2020 (updated December 2015) is
improved from a September 2014 forecast in that it indicates nearly
balanced operations assuming current minimal staffing levels and
continued fairly level subsidies from the utility funds. In this
scenario, the estimated fund balance remains positive at 5.7% in
fiscal 2020, down from 10% at fiscal-year end 2016. The subsidy
represented about 18% of total general fund revenues in fiscal
2015.

However, under a scenario including the continued utility fund
subsidies but contemplating realistic increases in staffing levels
to support modest economic growth, the deficit grows to $107
million by fiscal 2020.

Ongoing utility transfers have resulted in low cash flow to
depreciation rates and indicating that the utility does not
generate sufficient cash to fund system maintenance. However,
Fitch-calculated all-in debt service coverage increased to an
average of 1.5x after transfers the three years ending fiscal 2015
from less than 1x from fiscals 2010 through 2012. Unrestricted
utility cash balances have averaged approximately $50 million or
436 days cash over the last five years.

Management expects continued annual rate increases of approximately
3%. The city believes that general fund revenue growth from
anticipated residential and commercial development will eventually
allow it to reduce its dependence on utility transfers as required
by the state. Fitch views this solution as highly uncertain given
economic cyclicality.

NEAR-TERM BUDGET BALANCE FOLLOWING SEVERE BUDGET STRESS
The city's financial position improved in fiscal 2015 with a
general fund surplus of $4.5 million resulting in a fund balance of
$12.6 million, equal to 9.8% of spending and transfers and meeting
this city's requirement of 8%. Revenues improved primarily due to a
$3.7 million (8%) increase in consolidated tax revenue combined
with flat spending. Management estimates a small surplus for fiscal
2016.

The recent stability follows a period of severe budgetary stress.
During the recession, the city experienced several years of large
operating deficits through fiscal 2011. After two years of minor
surpluses, fiscal 2014 ended with an unrestricted general fund
balance equal to the city's reduced policy requirement of 6% of
spending.

General fund fiscal 2015 year-end cash was less than half of
liabilities (less deferred revenue) for the fifth consecutive year.
Although nominal cash increased about $2 million to $4.6 million,
liabilities also increased. However, the city has access to
approximately $50 million in utility funds borrowing (as of fiscal
year-end 2015).

The city was able to pass the fiscal 2015 and 2016 budgets due to
temporary budgetary relief resulting from the union's agreement to
defer drawing on compensated absences in fiscal 2015 as well as
delayed hiring and departmental budget cuts. The city is currently
in negotiations with its two largest bargaining units and
management expects continued flat compensation.

VERY LIMITED REVENUE & EXPENDITURE FLEXIBILITY
Fitch believes the city retains virtually no additional expenditure
flexibility, having eliminated about 800 full-time equivalent
positions (35% since the peak in 2009) through attrition and
voluntary separation and layoffs. Management reports that the
city's current staffing level is unsustainable over the long term
even without economic growth.

Under the state property tax cap, the city could only raise about
$1 million from a property tax rate increase, leaving the city
dependent on economic growth or a change to state law to increase
its revenue base.

General fund revenues increased in fiscals 2014 and 2015 after five
consecutive years of declines. The revenue increases of 15.8% and
8.3% (not including utility transfers) in fiscals 2014 and 2015,
respectively) were primarily due to improved consolidated tax
revenues as well as licenses and permits reflecting improvements in
the economy. However, revenues remain just 66% of the peak level in
fiscal 2015.

NEAR TERM STATE INVOLVEMENT APPEARS UNLIKELY
Fitch believes the likelihood of state intervention remains low.
State law bars Nevada municipalities from filing for bankruptcy,
but allows for the state to become the receiver. The Nevada Tax
Commission could also eventually ask voters to approve
disincorporation. Current statute requires that taxes for bond
repayment continue to be levied under disincorporation. However,
under state receivership, the statute directs the state to
formulate a debt liquidation program. Management expects to request
that the state defer or delay the requirement that the city
eliminate the utility transfers by fiscal 2021.

ELEVATED LONG-TERM LIABILITIES
In part due to the steep decline in TAV, overall debt levels
including the water and wastewater GO bonds are above average at
5.5% of the tax base. In addition, amortization is slow with only
34% of principal retired within 10 years and an ascending debt
service schedule in the intermediate term.

Carrying costs currently consume a relatively moderate 19.2% of
governmental spending. However, Fitch expects the burden to
increase as both debt service and retirement benefit costs rise.

The city participates in Public Employees' Retirement System of
Nevada (PERS), which has a relatively low funded ratio of 68.7%
using a Fitch-adjusted 7% discount rate. The city makes its annual
required statutorily determined pension contributions. The city's
liability related to other post-employment benefits (OPEBs) is
approximately $13 million.

STRESSED ECONOMY
The city's tax base grew rapidly through fiscal 2009 before
declining 56% from fiscal years 2010-2013. It has since rebounded a
significant 38%, but remains about 60% of the 2009 peak. The city's
housing market continues to experience high foreclosure rates
relative to state and national averages as, despite recent
increases, home prices are still more than 40% below their 2006
peak. Fitch expects only gradual improvement at best and believes
economic contraction before the city has further regained its
economic footing would stress revenues and the bond rating even
further.

The city and regional economies are concentrated in gaming; most
major employers and taxpayers are hotel/casinos. Employment in the
city experienced a steep decline in 2010 but has since more than
recovered the jobs lost. Nonetheless, the city's unemployment rate
of 7.2% as of January 2015 was well above the county and state
(both 6.5%), as well as the nation (5.2%). Median household income
is slightly above the state and slightly below the nation, but per
capita income is 17% below both state and 26% below national
averages.


NORTHWEST TERRITORIAL: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Northwest Territorial Mint LLC
        P.O. Box 2148
        Auburn, WA 98071-2148

Case No.: 16-11767

Type of Business: Designs and manufactures minted products

Chapter 11 Petition Date: April 1, 2016

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

Judge: Hon. Christopher M Alston

Debtor's Counsel: J Todd Tracy, Esq.
                  THE TRACY LAW GROUP PLLC
                  720 Olive Way Ste 1000
                  Seattle, WA 98101
                  Tel: 206-624-9894
                  E-mail: todd@thetracylawgroup.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Ross B. Hansen, member.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bradley Steven Cohan                 Judgment         $7,000,000
c/o Anthony Michael Glassman
360 N Bedford Dr
Beverly Hills, CA 90210

Bud Jameson                                              $575,077
12 Post Oak Loop
Sherwood, AR
72120-3700

Cohen Asset                                            $5,500,000
Management, Inc.
c/o Anthony Michael Glassman
360 N Bedford Dr
Beverly Hills, CA 90210

David James                                            $1,244,991
16855 James Lane
Bend, OR 97703

Don Wright                        Leased Metal           $517,359
13820 NE 65th #546
Redmond, WA 98052

Dr. Bob Austin                    Leased Metals          $901,795
c/o Ross Jones
106 Del Ray Rd
Mossyrock, WA 98564

Eva Rosman                                               $429,370
2916 Glen Ave
Baltimore, MD 21215

John Anderson                                            $287,147
8 East Oakwood
Hills Drive
Chandler, AZ 85248

Larry Chiappellone                                       $325,400
18457 Barrett Ave
Sonoma, CA 95476

Liedtke Associates LP              Metal Lease           $291,189
Norman Liedtke
671 Lakeside Circle
Apt 902 Pompano Beach, FL 33060

Maria Kroupa                       Leased Metal          $971,861
30982 Sanjay Ct
Temecula, CA 92591

Michael & Mary Bernard                                   $343,290
14035 NE 5th Street
Bellevue, WA 98007

Mike Ray Howard                    Leased Metal          $318,974
1415 293rd Ave NE
Carnation, WA 98014

Richard Pehl                                             $605,623
813 Barnhart St
Raymond, WA
98577-4501

Rodger Overson                                           $427,707
2750 S.W. 312th Pl.
Federal Way, WA 98023

Simon Ginsberg TTE                  Leased Metal         $257,706
225 W 106th St. #16B
New York, NY 10025

Steven Fox                                             $1,769,010
25 Cushing Dr
Mill Valley, CA 94941

William L Hanson                    Leased Metals        $436,227
POB 64655
Tacoma, WA
98464-0655

Yong Tuo                                                 $292,327
Emblem Co. Ltd.
No. 16 ShengYu
Road, ShengFeng
District Xiao Lan Town,
Zhong Shan City
Gung Dong 528414 China

Young deNormandie PC                                     $800,370
Second & Seneca Building  
1191 Second Ave., Suite 1901
Seattle, WA 98101-2993


NOVINDA CORP: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Novinda Corp.  
        999 18th Street, Suite 1755, North Tower
        Denver, CO 80202

Case No.: 16-13083

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Elizabeth E. Brown

Debtor's Counsel: Joshua M. Hantman, Esq.
                  BROWNSTEIN HYATT FARBER SCHRECK, LLP
                  410 17th St., Ste. 2200
                  Denver, CO 80202
                  Tel: 303.223.1216
                  Fax: 303.223.1111
                  E-mail: jhantman@bhfs.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael J. Rosenberg, interim chief
executive officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cob16-13083.pdf


NUO THERAPEUTICS: Has Final Court OK to Tap $6-Mil. DIP Financing
-----------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware has entered a final order authorizing Nuo
Therapeutics, Inc., to obtain up to $6,000,000 in aggregate
postpetition senior secured super-priority debtor-in-possession
financing from Deerfield Mgmt, LP.

The Court also gave the Debtor final authority to use cash
collateral securing its prepetition indebtedness.

Deerfield Mgmt, L.P., acts as administrative agent and collateral
agent under a Senior Secured, Superpriority Debtor-In-Possession
Credit Agreement.  The prepetition secured parties, namely:
Deerfield Private Design Fund II, L.P., Deerfield Private Design
International II, L.P., and Deerfield Special Situations Fund,
L.P., et al., serve as the debtor-in-possession lenders.

The DIP Facility will mature on the earliest of: (i) the stated
maturity date, which will be March 31, 2016; (ii) the date on
which
the sale of the Debtor's assets will have been consummated; (iii)
the date that is 20 days after the entry of the Interim Order,
unless on or before that day the Bankruptcy Court shall have
entered the Final Order; and (iv) the acceleration of the Loans or
termination of the Commitment under this Agreement, including,
without limitation, as a result of the occurrence of an event of
default.

The outstanding principal amount of the Loans will bear interest
of
12 percent.  If an Event of Default has occurred and is
continuing,
the Debtor shall pay, in respect of principal and interest on the
Loans outstanding under this Agreement, at the rate per annum
equal
to the Interest Rate applicable thereto plus 10 percent for so
long
as such Event of Default is continuing.

                       Objections Overruled

Judge Walrath overruled the objections raised by the United States
Trustee, the Official Committee of Unsecured Creditors, and the Ad
Hoc Equity Committee.

The Objectors oppose to those portions of the DIP Motion seeking to
pay Deerfield an expense reimbursement of up to $300,000 for being
excessive.  Given Deerfield's prior relationship with the Debtor,
its expenses relating to its bid are not likely to approach
$300,000 and requiring other bidders to bid the full amount of this
excessive expense reimbursement may have a chilling effect on the
bid process, the Objectors asserted.

The Official Committee of Unsecured Creditors is represented by:

     Donald J. Detweiler, Esq.
     John H. Schanne, II, Esq.
     PEPPER HAMILTON LLP
     Hercules Plaza, Suite 5100
     1313 Market Street
     Wilmington, DE 19899-1709
     Telephone: (302) 777-6500
     Facsimile:  (302) 421-8390
     E-mail: detweilerd@pepperlaw.com               
             schannej@pepperlaw.com  

     -- and --

     Francis J. Lawall, Esq.
     PEPPER HAMILTON LLP
     3000 Two Logan Square
     18th & Arch Streets
     Philadelphia, PA 19103-2799
     Telephone: (215) 981-4451
     Facsimile: (215) 981-4750
     Email: lawallf@pepperlaw.com  

Andrew R. Vara, Acting United States Trustee for Region Three is
represented by:

     Juliet Sarkessian, Esq.
     Trial Attorney
     UNITED STATES DEPARTMENT OF JUSTICE
     OFFICE OF THE UNITED STATES TRUSTEE
     J. Caleb Boggs Federal Building
     844 King Street, Suite 2207, Lockbox 35
     Wilmington, DE 19801
     Telephone: (302) 573-6491
     Facsimile: (302) 573-6497
     Email: Juliet.M.Sarkessian@usdoj.gov

The Ad Hoc Equity Committee is represented by:

     Tara L. Lattomus, Esq.
     ECKERT SEAMANS CHERIN & MELLOTT, LLC
     222 Delaware Street, 7th Floor
     Wilmington, Delaware 19801
     Telephone: 302-574-7400
     Telefax:  302-574-7401
     Email: tlattomus@eckertseamans.com  

     -- and --

     Steve Jakubowski, Esq.
     ROBBINS SALOMON & PATT, LTD.
     180 N. LaSalle Street, Suite 3300
     Chicago, Illinois 60601
     Telephone:  312-456-0191
     Telefax: 312-782-6690
     Email: sjakubowski@rsplaw.com

         About NUO Therapeutics

Nuo Therapeutics, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.

The U.S. Trustee for Region 2 originally appointed three members to
the Official Committee of Unsecured Creditors.  The U.S. Trustee,
on March 14, 2016, said New Hampshire Ball Bearings, Inc., has
resigned from the Committee.  The remaining committee members are
AAPC and CPA Global Limited.

Nuo Therapeutics, Inc., on March 29 disclosed that the United
States Bankruptcy Court for the District of Delaware entered an
Order granting conditional approval to the Company's Disclosure
Statement for the First Amended Plan of Reorganization in the
ongoing Chapter 11 bankruptcy case.  The Court also approved an
expedited pathway to the Company's emergence from Chapter 11 by
scheduling a combined hearing on April 25, 2016 to consider the
adequacy of the Disclosure Statement and confirmation of the
Company's proposed First Amended Plan of Reorganization.


OMNICOMM SYSTEMS: Posts $2.40 Million Net Income for 2015
---------------------------------------------------------
OmniComm Systems, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income
attributable to common stockholders of $2.40 million on $20.7
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss attributable to common stockholders of $4.66
million on $16.5 million of total revenues for the year ended Dec.
31, 2014.

As of Dec. 31, 2015, OmniComm had $6.31 million in total assets,
$27.7 million in total liabilities and a total shareholders'
deficit of $21.4 million.

"We have historically experienced negative cash flows and have
relied on the proceeds from the sale of debt and equity securities
to fund our operations.  In addition, we have utilized stock-based
compensation as a means of paying for consulting and salary related
expenses.  At December 31, 2015, we had working capital deficit of
approximately $7,577,477," the Company stated in the report.

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

                     http://is.gd/3Nuhgt

                   About OmniComm Systems

Ft. Lauderdale, Fla.-based OmniComm Systems, Inc., is a healthcare
technology company that provides Web-based electronic data capture
("EDC") solutions and related value-added services to
pharmaceutical and biotech companies, clinical research
organizations, and other clinical trial sponsors principally
located in the United States and Europe.


ONEMAIN HOLDINGS: Moody's Affirms B3 CFR on SpringCastle Stake Sale
-------------------------------------------------------------------
Moody's Investors Service affirmed the B3 corporate family rating
of OneMain Holdings, Inc. and the senior unsecured rating of
Springleaf Finance Corporation, as well as the B2 senior unsecured
rating of OneMain Financial Holdings, LLC all with a stable
outlook, following the company's announced sale of its equity stake
in SpringCastle.

                         RATINGS RATIONALE

The ratings affirmation follows OneMain Holdings' announced sale of
its ownership interest in SpringCastle, a joint venture in which
OneMain Holdings owns a 47% equity stake.  SpringCastle is an
entity that owns a portfolio of $1.6 billion in loans consisting of
second-lien residential mortgages and unsecured consumer loans and
is currently in a liquidation mode.

The transaction will result in meaningful deleveraging for OneMain
Holdings, which is a positive credit development.  Moody's
estimates that OneMain Holdings' capitalization, measured as
tangible common equity to tangible assets, will improve to
approximately 5% on a pro-forma basis from 3.2% at Dec. 31, 2015.
The equity increase results from the elimination of the company's
negative non-controlling interest in the joint venture and from a
gain on the asset sale.  In addition, its debt will decline by $1.9
billion from the elimination of the SpringCastle securitization
obligations, which are consolidated on OneMain Holdings' balance
sheet.

While the deleveraging is a credit positive, the integration of
Springleaf Holdings Inc. and OneMain Financial (old OneMain) still
presents significant execution challenges given its complexity.  In
addition, the combined entity has yet to demonstrate the
profitability of its franchise -- its 4Q15 results contained
significant amounts of acquisition-related charges, which weakened
its capitalization relative to Moody's expectations.

Upward rating pressure could develop after two or three consecutive
quarters of strong, clean results as evidenced by solid
profitability, ample liquidity, and successful execution of key
integration milestones.  The ratings could be upgraded if OneMain
Holdings demonstrates consistency in operating results, including
solid profitability, and continues to de-lever by building its
equity through earnings retention - particularly if it demonstrates
a clear path to building capital beyond 6% of tangible common
equity to tangible managed assets.

OneMain Holdings' ratings could be downgraded as a result of weak
performance, which would be evidenced by financial losses and
weakening of its capitalization.  Ratings could also be downgraded
if Moody's believes OneMain Holding's refinancing risk has
increased, particularly in light of its $1.9 billion of its debt
obligations maturing in 2017.

OneMain Financial's ratings are closely aligned with those of
OneMain Holdings and therefore would likely be upgraded or
downgraded together with the ratings of OneMain Holdings.  In
addition, OneMain Financial's ratings could be downgraded if its
leverage increases substantially, if its profitability meaningfully
weakens, or if the structural protections afforded to it through
its debt indenture covenants were weakened and no longer provided
the credit protection they do today.

The actions include:

OneMain Holdings, Inc.

  Corporate Family Rating: B3, affirmed
  Senior Unsecured Shelf: (P)Caa2, affirmed
  Subordinated Shelf: (P)Caa3, affirmed
  Junior Subordinated Shelf: (P)Ca, affirmed
  Outlook: Stable

Springleaf Finance Corporation:

  LT Issuer: B3, affirmed
  Senior Unsecured: B3, affirmed
  Senior Unsecured MTN Program: (P)B3, affirmed
  Senior Unsecured Shelf: (P)B3, affirmed
  Subordinated Shelf: (P)Caa1, affirmed
  Junior Subordinated Shelf: (P)Caa2, affirmed
  Outlook: Stable

OneMain Financial Holdings, LLC:

  Senior Unsecured: B2, affirmed
  Outlook: Stable
  AGFC Capital Trust I
  BACKED Pref. Stock: Caa2(hyb), affirmed
  Outlook: Stable

The principal methodology used in these ratings was Finance
Companies published in October 2015.


OXYSURE THERAPEUTICS: Delays Filing of 2015 Annual Report
---------------------------------------------------------
OxySure Therapeutics, Inc., filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its annual report on Form 10-K for the year ended
Dec. 31, 2015.  The Company said it requires additional time to
finalize certain required disclosures and documentation for its
Form 10-K for the fiscal year ended Dec. 31, 2015.  Accordingly,
the Form 10-K cannot be filed within the prescribed time period
without unreasonable effort or expense.

                   About OxySure Therapeutics

Frisco, Tex.-based OxySure Therapeutics, Inc., formerly known as
OxySure Systems, Inc. (OTC QB: OXYS) is a medical technology
company that focuses on the design, manufacture and distribution of
specialty respiratory and emergency medical solutions.  The company
pioneered a safe and easy to use solution to produce medically pure
(USP) oxygen from inert powders.  The Company owns nine issued
patents and patents pending on this technology which makes the
provision of emergency oxygen safer, more accessible and easier to
use than traditional oxygen provision systems.

Oxysure Systems reported a net loss of $2.75 million in 2014
following a net loss of $712,000 in 2013.

As of Sept. 30, 2015, the Company had $4.42 million in total
assets, $2.24 million in total liabilities and $2.18 million in
total stockholders' equity.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company had accumulated losses of $18.0 million as of Dec. 31, 2014
which raises substantial doubt about its ability to continue as a
going concern.


PARAGON OFFSHORE: Hires Clyde & Co as Special Counsel
-----------------------------------------------------
Paragon Offshore plc and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District Court of Delaware
to employ Clyde & Co LLP as special counsel, nunc pro tunc to the
February 14, 2016 petition date.

The Debtors request that the Court approve the retention of Clyde &
Co as special counsel to perform legal services in connection with
certain ongoing arbitrations outside the United States during these
chapter 11 cases in accordance with the Firm's normal hourly rates
in effect when services are rendered and the Firm's normal
reimbursement policies.

Clyde & Co currently represents the Debtors in two non-bankruptcy
matters: the Jindal Arbitration and the NAE Arbitration (together,
the "Special Counsel Matters").

Clyde & Co will be paid at these hourly rates:

       Partners                   $667-$596
       Associates                 $535-$360
       Trainees and Paralegals    $250-$170

Clyde & Co will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Clyde & Co will hold a Clyde & Co Fee Advance of approximately
$27,445.68 and the RBQC Fee Advance.

David Peter Bennet, partner in Oil and Gas Practice of Clyde & Co,
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.

In addition, consistent with the U.S. Trustee Guidelines, Mr.
Bennet disclosed that:

   (a) Clyde & Co did not agree to a variation of its standard or
       customary billing arrangements for this engagement except
       for extending a 10% reduction to the Debtors from the
       outset;

   (b) None of Clyde & Co's professionals included in this
       engagement have varied their rate based on the geographic
       location of these chapter 11 cases;

   (c) Clyde & Co represented the Debtors for 9 months prior to
       the Petition Date. The billing rates and material financial

       terms in connection with such representation have not
       changed postpetition, other than due to annual and
       customary firm-wide adjustments to Clyde & Co's hourly
       rates in the ordinary course of Clyde & Co's business; and

   (d) Clyde & Co will consult with the Debtors and agree upon an
       approved budget and staffing plan for Clyde & Co's
       engagement for the period from the Petition Date through
       trial, currently schedule at the end of July 2016.
       Consistent with the U.S. Trustee Guidelines, the budget may

       be amended as necessary to reflect changed or unanticipated

       developments.

The Bankruptcy Court will hold a hearing on the motion on April 6,
2016, at 10:00 a.m.  Objections were due March 30, 2016.

Clyde & Co can be reached at:

       David Peter Bennet, Esq.
       CLYDE & CO LLP
       1 Stoke Road
       Guildford
       Surrey GU1 4HW

                        About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a    

global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PARAGON OFFSHORE: Hires Weil Gotshal as Attorneys
-------------------------------------------------
Paragon Offshore plc and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District Court of Delaware
to employ Weil, Gotshal & Manges LLP as attorneys, nunc pro tunc to
the February 14, 2016 petition date.

The Debtors require Weil Gotshal to:

   (a) take all necessary action to protect and preserve the
       Debtors' estates, including the prosecution of actions on
       the Debtors' behalf, the defense of any actions commenced
       against the Debtors, the negotiation of disputes in which
       the Debtors are involved and the preparation of objections
       to claims filed against the Debtors' estates;

   (b) prepare on behalf of the Debtors, as debtors in possession,

       all necessary motions, applications, answers, orders,
       reports and other papers in connection with the
       administration of the Debtors' estates;

   (c) take all necessary actions in connection with any chapter
       11 plan and related disclosure statement and all related
       documents, and such further actions as may be required in
       connection with the administration of the Debtors' estates;

   (d) take all necessary action to protect and preserve the value

       of the Debtors' estates, including advising with respect to

       the Debtors' affiliates in the United States and abroad and

       all related matters; and

   (e) perform all other necessary legal services in connection
       with the prosecution of these chapter 11 cases.

Weil Gotshal will be paid at these hourly rates:

       Members and Counsel       $910-$1,350
       Associates                $490-$885
       Paraprofessionals         $210-$350

Weil Gotshal will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prior to the Petition Date, Weil received payments and advances
totaling approximately $6.15 million for professional services
performed and to be performed, including the commencement and
prosecution of these chapter 11 cases. Weil has a remaining credit
balance in favor of the Debtors for future professional services to
be performed, and expenses to be incurred, in connection with these
chapter 11 cases of approximately $481,000.

Stephen A. Youngman, member of Weil Gotshal, 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.

Consistent with the U.S. Trustee Guidelines, Mr. Youngman disclosed
that:

   -- Weil did not agree to any variations from, or alternatives
      to, its standard or customary billing arrangements for this
      engagement;

   -- None of Weil's professionals included in this engagement
      have varied their rate based on the geographic location for
      these chapter 11 cases;

   -- Weil has represented the Debtors since August 2015. The
      billing rates and material financial terms of Weil's
      engagement have not changed postpetition from the
      prepetition arrangements;

   -- Weil, in conjunction with the Debtors, is developing a
      prospective budget and staffing plan for these chapter 11
      cases for the period beginning February 2016 and ending June

      2016. Weil and the Debtors will review such budget following

      the close of the budget period to determine a budget for the

      following period.

The Bankruptcy Court will hold a hearing on the motion on April 6,
2016, at 10:00 a.m.  Objections were due March 28, 2016.

Weil Gotshal can be reached at:

       Stephen A. Youngman, Esq.
       WEIL, GOTSHAL & MANGES LLP
       767 Fifth Avenue
       New York, NY 10153
       Tel: (212) 310-8000
       Fax: (212) 310-8007

                        About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a    

global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.



PARAGON OFFSHORE: Wants to Pay Advisors' Professional Fees
----------------------------------------------------------
Paragon Offshore PLC and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware to authorize the
Debtors to pay the reasonable documented postpetition fees and
expenses of the advisors to the Consenting Noteholders in
accordance with the terms of the Plan Support Agreement and
applicable Fee Letters.

The Debtors relate that prior to the Petition Date, they engaged in
extensive negotiations with certain key stakeholders over the terms
of a potential restructuring of the Debtors' business.  The Debtors
further relate that as a condition of entering into negotiations
regarding a potential restructuring of the Debtors' business, the
Consenting Noteholders requested, and the Debtors agreed to pay,
the reasonable documented fees and expenses of certain of the
advisors to the Consenting Noteholders ("Professional Fees").

The Debtors tell the Court that the negotiations ultimately led to
consensus on the terms of a financial restructuring that will
reduce the Debtors' debt by more than $1 billion, allow the
Debtors' equity holders to retain 65% of the equity of the
Reorganized Debtors, and provide the Debtors with sufficient
liquidity.  The terms of the restructuring are memorialized in a
Plan Support Agreement and embodied in the Debtors' Joint Chapter
11 Plan.

The Debtors aver that the  Plan Support Agreement is supported by
the beneficial holders ("Consenting Noteholders") of over
two-thirds in amount of both the 6.75% Senior Notes due 2022 and
the 7.25% Senior Notes due 2024 issued under an Indenture, between
Paragon Offshore PLC, as issuer, each of the guarantors named
therein, and Deutsche Bank Trust Company Americas, as indenture
trustee,("Indenture"), and creditors ("Consenting Revolver
Lenders") holding over two-thirds in outstanding principal amount
of loans under the Secured Revolving Credit Agreement, between
Paragon Offshore PLC and Paragon International Finance Company, as
borrowers, the lenders and issuing banks party thereto, and
JPMorgan Chase Bank, N.A., as administrative agent ("Revolving
Credit Agreement").  The Debtors further aver that under the Plan
Support Agreement, the Consenting Creditors have agreed to, among
other things, support the Proposed Plan and to forbear from
exercising any rights or remedies under the Revolving Credit
Agreement or the Indenture with respect to their loans or Notes
resulting from certain actual or potential defaults or events of
default specified therein.

The Debtors have agreed to pay the following Professional Fees, in
accordance with existing fess letters:

   (a) In connection with the fee letter with Paul, Weiss, Rifkind,
Wharton & Garrison LLP, as U.S. Counsel to the Consenting
Noteholders, the Debtors paid Paul Weiss a $175,000 stay-ahead
retainer prepetition, which Paul Weiss may debit if the Debtors do
not timely pay an invoice.  In the event of a debit of the
retainer, the Debtors are required to promptly replenish the
retainer to its original level.  In addition, the Debtors have
agreed to be responsible for payment of the reasonable fees, costs
and expenses of foreign counsel retained by Paul Weiss.

   (b) In connection with the fee letter with Ducera Partners LLC,
as financial advisor to the Consenting Noteholders, the Debtors
have agreed to pay Ducera the following: (i) a monthly fee of
$150,000; (ii) a deferred fee of $3,500,000, payable upon the
consummation of any Transaction; and (iii) reimbursement for all
reasonable, customary, and documented expenses upon request.

   (c) In connection with the fee letters with Ashurst LLP, as
English counsel to the Consenting Noteholders, the Debtors have
agreed to pay Ashurst within 20 business days after receipt of an
invoice, the reasonable legal fees and expenses incurred by Ashurst
in connection with its representation of the Consenting Noteholders
in the chapter 11 cases with payment in full due upon the closing
of any restructuring involving the Consenting Noteholders.

   (d) In connection with the fee letter with Creel,
Garcia-Cuellar, Aiza y Enriquez, S.C., as Mexican counsel to the
Consenting Noteholders, the Debtors agreed to pay Creel within 20
business days after receipt of an invoice the reasonable legal fees
and expenses incurred by Creel for Mexican tax law advice provided
to the Consenting Noteholders in connection with a potential
restructuring of the Notes with payment in full due upon the
closing of any restructuring involving the Consenting Noteholders.

     (e) In connection with the fee letter with Young Conaway
Stargatt & Taylor, LLP, as Delaware counsel to the Consenting
Noteholders, the Debtors have agreed to pay Young Conaway within 20
business days after receipt of an invoice the reasonable legal fees
and expenses incurred by Young Conaway in connection with its
representation of the Consenting Noteholders in the chapter 11
cases, with payment in full due upon the closing of any Transaction
involving the Consenting Noteholders.  Prepetition, the Debtors
paid Young Conaway a $25,000 stay-ahead retainer, which Young
Conaway may debit if the Debtors do not timely pay an invoice.  In
the event of a debit of the retainer, the Debtors are required to
promptly replenish the retainer to its original level.

The Debtors seek authority to continue to pay the postpetition
Professional Fees of the Advisors on a current basis in compliance
with their obligations under the Plan Support Agreement.  The
Debtors contend that their payment of the Professional Fees
pursuant to the terms of the Plan Support Agreement constitutes a
sound exercise of business judgment and is in their best
interests.

The Motion is scheduled for hearing on April 6, 2016 at 4:00 p.m.
The deadline for the filing of objections to the Motion is set on
March 30, 2016 at 4:00 p.m.

Paragon Offshore PLC and its affiliated debtors are represented
by:

          Mark D. Collins, Esq.
          Amanda R. Steele, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          One Rodney Square
          920 North King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          E-mail: collins@rlf.com
                 steele@rlf.com

               - and -

          Gary T. Holtzer, Esq.
          Stephen A. Youngman, Esq.
          WEIL, GOTSHAL & MANGES LLP
          767 Fifth Avenue
          New York, NY 10153
          Telephone: (212)310-8000
          Facsimile: (212)310-8007
          E-mail: gary.holtzer@weil.com
                  stephen.youngman@weil.com

                    About Paragon Offshore PLC

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a   
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PATSY JEAN: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Patsy Jean Foundation, Ltd.
        107 Bob Jones Court
        Pottsboro, TX 75076

Case No.: 16-40565

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Bill F. Payne, Esq.
                  THE MOORE LAW FIRM, L.L.P.
                  100 North Main Street
                  Paris, TX 75460-4222
                  Tel: (903) 784-4393 ext. 40
                  E-mail: lgarner@moorefirm.com
                          bpayne@moorefirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Kelly Sexton, limited partner.

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


PHILADELPHIA SCHOOL: Moody's Affirms Ba3 Rating on $3.1BB GO Debt
-----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 underlying and Ba2
enhanced ratings on Philadelphia School District, PA's $3.1 billion
in outstanding general obligation and GO-secured lease debt.  The
outlook on both the underlying and enhanced ratings is negative.

The Ba3 underlying rating reflects the district's large urban tax
base with weak overall socioeconomic profile, moderately high debt
burden and manageable pension liability.  The rating also
incorporates the district's recent budget stabilization due to
additional revenues received from the City of Philadelphia (A2
stable) beginning in fiscal 2015 that has helped return the
district's reserves to a healthier, but still narrow level.  The
rating also includes the challenges that the district will continue
to face going forward including increasing charter pressures,
pensions costs, and the potential loss of various revenue sources
in fiscal 2019 making it difficult to maintain structurally
balanced budgets in the medium-term, particularly in light of the
district's lack of authority to impose property taxes and generate
other revenues.

The Ba2 enhanced rating reflects the availability of state aid for
debt service obligations in light of the commonwealth's chronically
late budgets and the lack of clarity surrounding the intercept
program's mechanical feasibility in the absence of an approved and
implemented budget.

Rating Outlook

The negative outlook on the underlying rating reflects the
continued uncertainty surrounding the fiscal 2017 state budget and
the potential impact it could have on the district's financial
position and ability to access the capital market, if needed.  The
outlook also incorporates the upcoming risk associated with the
expiration of the LOC waivers in June 2016 that could impact the
district's liquidity position or require the district to issue debt
to fund this liability.  The outlook also includes the district's
ongoing difficulties in halting the erosion of its educational
services and continued financial challenges.

The negative outlook on the enhanced rating is based both on the
outlook for the Commonwealth of Pennsylvania (Aa3 negative) and the
ongoing uncertainty surrounding the intercept program's funding
during budget stalemates.

Factors that Could Lead to an Upgrade

  Attainment of permanent revenue sources to ensure balanced
   budget

  Halting the migration of students to charter schools

  Ability to successfully manage through expiration of LOC waivers

   while maintaining financial flexibility

  Stabilization of political environment at state level resulting
   in the passage of complete and timely budgets

Factors that Could Lead to a Downgrade

  Continued loss of students to charter schools leading to bigger
   and less flexible cost structure

  Failure to balance the budget resulting in more limited
   financial flexibility

  Inability to obtain new LOC agreements/extensions by June 2016

Legal Security

The district's GO bonds are secured by the district's full faith,
credit and taxing power.

The district's SPSBA lease revenue bonds are secured by lease
payments made by the district to the SPSBA.  Under the lease
agreement with SPSBA, the district covenants that the lease
payments represent a full faith, credit and taxing power pledge,
and therefore, Moody's currently rate it on parity with the
district's GO bonds.

Use of Proceeds
Not Applicable.

Obligor Profile
Philadelphia School District is the largest public school district
in Pennsylvania and the eighth-largest in the country.  The
district operates 217 schools with enrollment (excluding charters)
of 129,921 in fiscal 2015.  The district employs more than 8,200
teachers.

Methodology
The principal methodology used in the underlying rating was US
Local Government General Obligation Debt published in January 2014.
The principal methodology used in the enhanced rating was State
Aid Intercept Programs and Financings: Pre and Post Default
published in July 2013.  An additional methodology used in the
lease rating was The Fundamentals of Credit Analysis for
Lease-Backed Municipal Obligations published in December 2011.


PLASTIC2OIL INC: Delays Filing of 2015 Annual Report
----------------------------------------------------
Plastic2Oil, Inc., disclosed in a regulatory filing with the
Securities and Exchange Commission it was unable to file its annual
report on Form 10-K for the period ended Dec. 31, 2015, within the
prescribed time period due to staffing limitations.

Additionally, the Company said it encountered difficulties in
completing the accounting and reporting for certain disclosures and
could not complete the report in sufficient time to permit the
filing of the 10-K without unreasonable expense and effort.  The
Company is seeking to file its Annual Report within the extension
period provided under Rule 12b-25, however, due to the delay in the
start of the audit, there can be no assurance that the Company will
be successful in filing prior to the expiration of the extension
period.

                         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.


POSITRON CORP: Needs More Time to File 2015 Form 10-K
-----------------------------------------------------
Positron Corporation filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended
Dec. 31, 2015.
The Company said its financial statements could not be completed
within the time provided without undue burden and expense.

                 About Positron Corporation

Headquartered in Fishers, Indiana, Positron Corporation is a
molecular imaging company focused on nuclear cardiology.

Positron reported a net loss of $2.58 million on $1.46 million of
sales for the year ended Dec. 31, 2014, compared to a net loss of
$7.1 million on $1.63 million of sales for the year ended Dec. 31,
2013.

As of Sept. 30, 2015, the Company had $1.52 million in total
assets, $3.10 million in total liabilities and a total
stockholders' deficit of $1.58 million.

Sassetti LLC, in Oak Park, Illinois, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has a significant
accumulated deficit which raises substantial doubt about the
Company's ability to continue as a going concern.


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

       Debtor                                      Case No.
       ------                                      --------
       PostRock Energy Corporation                 16-11230
       210 Park Avenue, Suite 2750
       Oklahoma City, OK 73102

       PostRock Energy Services Corporation        16-11231

       PostRock MidContinent Production LLC        16-11232

       PostRock Eastern Production, LLC            16-11233

       PostRock Holdco, LLC                        16-11235

       STP Newco, Inc.                             16-11236

Type of Business: The Debtors operate as an independent oil and
                  gas company engaged in the acquisition,
                  exploration, development, production and
                  gathering of crude oil and natural gas.

Chapter 11 Petition Date: April 1, 2016

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Hon. Sarah A. Hall

Debtors' Counsel: Mark A. Craige, Esq.
                  CROWE & DUNLEVY, P.C.
                  500 Kennedy Building
                  321 S. Boston
                  Tulsa, OK 74103
                  Tel: (918) 592-9878
                  Fax: (918) 599-6318
                  Email: mark.craige@crowedunlevy.com

                     - and -

                  John Paul K. Napier, Esq.
                  Christopher M. Staine, Esq.
                  CROWE & DUNLEVY, P.C.
                  324 North Robinson, Suite 100
                  Oklahoma City, Oklahoma 73102
                  Tel: 405.235.7700
                  Fax: 405.239.6651
                  Email: john.napier@crowedunlevy.com
                         christopher.staine@crowedunlevy.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $50 million to $100 million

The petition was signed by Clark Edwards, president.

List of PostRock Energy Corp.'s 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
BBVA Compass                        Money Loaned       $4,349,586
PO Box 4444
Houston, TX
77210-4444
Mike Farquhar
Email: mfarquhar@winstead.com

Black Land Management, Inc.           Litigation         $400,000
Brian D Black
PO Box 38
Bowden, WV 26254
Fax: Fax 681-205-8814
Email: tmiller@babstcalland.com

Cadence Bank NA                      Money Loaned      $4,349,586
2800 Post Oak
Boulevard Suite 3800
Houston, TX 77056
Email: mfarquhar@winstead.com

Cawley, Gillespie & Assoc, Inc.       Trade Debt          $33,864

CDW Direct, LLC                       Contract            $33,483
Email: web.queries@computershare.com  

Chandler Oil, LLC                     Trade Debt          $34,970

Citibank NA                          Money Loaned     $10,014,162
3800 Citibank Center
BLG B 3RD Floor
Tampa, FL 33610
Email: mfarquhar@winstead.com

Compressor Systems, Inc.              Trade Debt         $482,696
P.O. Box 841807
Dallas, TX
75284-1807

Kansas Department of                Tax Liability      $1,249,969
Revenue
915 SW Harrison
Room 150
Topeka, KS
66612-2003

Kinder Morgan Operating LP           Trade Debt          $108,485

Nalco Corporation                    Trade Debt          $134,810
Email: Remitadvice@Nalco.com

Oklahoma Tower Realty                 Contract           $983,478
204 N. Robinson Suite 700
Oklahoma City,
OK 73102
Email: MDUNCAN@NEWSMARKLB.COM

OneWest Bank, FSB                   Money Loaned       $4,349,586
888 East Walnut Street
Pasadena, CA 91101
Email: mfarquhar@winstead.com

Pitney Bowes Global                   Contract            $26,770
Email: bankruptcy@pb.com

Radiant Electric Cooperative         Trade Debt           $94,166

Sunrise Oilfield Supply, Inc.       Money Loaned          $65,152

Texas Capital Bank, N.A.            Money Loaned       $7,080,720
2000 McKinney Avenue
Suite 700
Dallas, TX 75201
Email: mfarquhar@winstead.com

Topsource, LLC                       Trade Debt           $99,921

Transtex Hunter LLC                   Contract           $254,671
909 Lake Carolyn
Parkway, Suite 600
Irving, TX 75039
Email: Hwalker@transtexhunter.com

Transzap, Inc.                         Contract           $43,730


POSTROCK ENERGY: Consents to Appointment of a Chapter 11 Trustee
----------------------------------------------------------------
At secured creditor Citibank, N.A.'s behest, PostRock Energy
Corporation and its PostRock Energy Service Corporation, PostRock
MidContinent Production LLC, PostRock Eastern Production, LLC,
PostRock Holdco, LLC, and STP Newco, Inc., affiliates, presented an
Agreed Motion to the U.S. Bankruptcy Court for the Western District
of Oklahoma asking the Court to appoint a Chapter 11 Trustee in
their chapter 11 cases filed last week.  

The Debtors are primarily engaged in the business of natural gas
production in southeastern Kansas and northeastern Oklahoma.  The
Debtors also own and operate oil and gas equipment, including
cementing, fracture treatment, and servicing rigs.  Citibank
requests the immediate appointment of a chapter 11 trustee for the
Debtors' estates and to operate the Debtors' businesses.  The
Debtors agree to entry of an order appointing a Trustee in these
Cases.

Citibank is represented in this matter by:

          Steven W. Bugg, Esq.
          MCAFEE & TAFT A Professional Corporation
          10th Floor, Two Leadership Square
          211 N. Robinson Ave.
          Oklahoma City, Oklahoma 73105
          Telephone: (405) 552-2216
          E-mail: steven.bugg@mcafeetaft.com

               - and -

          R. Michael Farquhar, Esq.      
          Matthew T. Ferris, Esq.
          Annmarie Chiarello, Esq.
          WINSTEAD PC
          500 Winstead Building
          2728 N. Harwood Street
          Dallas, Texas 75201
          Telephone: (214) 745-5400



POSTROCK ENERGY: Files for Ch. 11 Protection to Facilitate Sale
---------------------------------------------------------------
Citing the recent and dramatic decline in oil prices, PostRock
Energy Corporation and five of its affiliates sought creditor
protection in the U.S. Bankruptcy Court for the Western District of
Oklahoma.  The Chapter 11 filing came after the Debtors defaulted
under the terms of their borrowing base facility, rendering it
necessary for them to initiate these Chapter 11 cases.

"Due to the sharp decline in oil prices and the sustained
depression of gas prices caused by excess production and limited
demand for these natural resources, the Debtors' revenues,
profitability, and cash flows have been negatively affected," said
Clark Edwards, interim president, chief executive officer, and a
director of PostRock Energy.  "Without sufficient liquidity and
availability of capital, the Debtors' ability to acquire, explore,
develop, produce, and gather crude oil and natural gas have also
been severely limited by the industry and market trends and
conditions," he continued.

In February 2016, Citibank, N.A., as administrative and collateral
agent under the Third Amended and Restated Credit Agreement dated
Dec. 20, 2012, gave the Debtors a notice of default under the
Credit Facility due to the borrowing base deficiency occurring
after the borrowing base was reduced from $76 million to $39
million, and the Debtors' failure to make an interest payment when
due.  Subsequently, on March 14, 2016, the Agent had accelerated
the balance of the Debtors' indebtedness under the Borrowing Base
Facility (approximately $65 million as of the Petition Date),
rendering the entire outstanding principal balance plus all accrued
interest immediately due and payable.

Mr. Edwards said the Debtors attempted to negotiate with the Agent
and the Lenders for a restructuring transaction, but no agreement
was reached.

At the request of the Agent, the Debtors initiated these Chapter 11
cases and agreed to the immediate appointment of a Chapter 11
trustee "in order to preserve its going concern value and to
facilitate a sale of substantially all of its assets under the
management and direction of a Chapter 11 trustee."

As early as February 2015, the Debtors, with the assistance of
their advisors, engaged in a broad marketing process seeking to
sell substantially all of their assets recognizing the current
market and industry conditions, and the outstanding debt.  Despite
these efforts, the Debtors were unable to procure a sale that would
result in the full satisfaction of its outstanding obligations
under the Borrowing Base Facility, according to Court documents.

Contemporaneously with the petitions, the Debtors seek certain
"first day" relief in the first day motions in order to ensure a
smooth transition into Chapter 11 and, ultimately, a smooth
transition of  management control to a Chapter 11 trustee.  The
Debtors seek permission to, among other things, use cash
collateral, pay employee obligations and prohibit utility companies
from discontinuing services.

Headquartered in Oklahoma City, Oklahoma, PostRock Energy
Corporation, PostRock Energy Services Corporation, PostRock
MidContinent Production LLC, PostRock Eastern Production, LLC,
PostRock Holdco, LLC, and STP Newco, Inc. are engaged in the
acquisition, exploration, development, production and gathering of
crude oil and natural gas.  The Debtors' primary production
activity is focused in the Cherokee Basin, a 15-county region in
southeastern Kansas and northeastern Oklahoma.  The Debtors have
approximately 129 employees.

PostRock Energy, et al., filed Chapter 11 bankruptcy petitions
(Bankr. W.D. Okla Proposed Lead Case No. 16-11230) on April 1,
2016.  Clark Edwards signed the petitions as president.  The
Debtors estimated assets in the range of $10 million to $50 million
and debt of up to $100 million.

Crowe & Dunlevy, P.C. serves as the Debtors' counsel.

Judge Sarah A. Hall is assigned to the cases.


PRA HEALTH: S&P Raises CCR to 'BB-', Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Raleigh, N.C.-based PRA Health Sciences Inc. to 'BB-'
from 'B+'.  The outlook is stable.

At the same time, S&P affirmed the 'BB-' issue-level rating on the
senior secured first-lien credit facility.  S&P revised the
recovery rating on this debt to '3' from '2', indicating its
expectation for meaningful (50% to 70%; at the low end of the
range) recovery in the event of payment default.   At the same
time, S&P raised the issue-level rating on the senior unsecured
debt to 'B+' from 'B'.  The recovery rating on this debt is '5',
indicating S&P's expectations for modest recovery (10% to 30%; at
the low end of the range) in the event of default.

"We based the upgrade on PRA's continued solid operating
performance, which has given us greater confidence that PRA will be
able to maintain leverage below 5x over time despite the potential
for an acquisition or dividend, given Kohlberg Kravis Roberts &
Co.'s (KKR) controlling ownership position," said credit analyst
Matthew Todd.  "The company has successfully integrated several
acquisitions since 2013 including RPS and CRI Lifetree, bringing
margins to a level comparable to peers, and management believes
revenue synergies remain.  We believe the company will continue to
pursue aggressive growth strategies given the potential for
consolidation in the industry."

S&P's stable outlook reflects its belief that PRA is well
positioned to benefit from the positive trends in the CRO industry
and to capture market share from its therapeutic expertise.
Although KKR recently sold 5 million shares, S&P do not expect the
majority owner to reduce its position below 40% in the next 12
months because of the recent depression in the prices of health
care stocks.  S&P's forecast places PRA below 5x leverage with room
to absorb a significant cancellation or similar operational
misstep.  S&P's stable outlook incorporates the possibility of a
large acquisition to grow the company's clinical trial capacity and
scale.

S&P would consider upgrading PRA if the company instills greater
confidence that it will maintain leverage below 4x.  In this
scenario, the company needs to exceed our expectations for
operating results by capturing market share and adding preferred
partnerships with sponsors.  In addition, S&P would view the
company more positively if it publicly discloses a leverage target
below 4x.  S&P's upside scenario would likely be accelerated if KKR
divests its controlling interest in PRA because S&P views this type
of ownership as negative to the company's risk profile.

S&P could lower the rating should the company adopt a more
aggressive financial policy that would result in leverage exceeding
5x for more than 12 months.  This could manifest in added debt
either from a large acquisition or significant return of capital to
shareholders.  S&P believes the company's current rating could
absorb an acquisition of $1 billion at a valuation of 13x EBITDA or
$700 million of share repurchases.

Alternatively, S&P could lower the rating should the company suffer
an unlikely setback in operating performance in 2016 that would
result in a double-digit miss in revenue growth and a 300-bp
decline in EBITDA margin, resulting in forecasted leverage above
5x.  This would likely stem from cancellations because of a major
operational deficiency or the rationalization of outsourcing
providers by multiple top-10 sponsors.



PRECYSE ACQUISITION: S&P Lowers CCR to 'B-', Outlook Stable
-----------------------------------------------------------
Standard & Poor's Ratings Services corrected the corporate credit
rating on Alpharetta, Ga.-based Precyse Acquisition Corp. by
lowering it to 'B-' from 'B'.  When S&P issued the rating on March
30, 2016, it did not account for software development costs that
the company provided to us that should have been expensed in
EBITDA.  When included as an adjustment, such costs increased total
leverage to the mid- to high-8x range.  None of the other views
expressed in our March 30, 2016, release have changed regarding
operating performance and free operating cash flows.  The outlook
remains stable.

At the same time, S&P corrected the issue-level rating on the
company's $510 million, first-lien credit facility by lowering it
to 'B' from 'B+'.  The facility comprises a $50 million revolving
credit facility due 2021 (undrawn at close) and a $460 million,
first-lien term loan due 2022.  The '2' recovery rating is
unchanged and indicates S&P's expectation of substantial (70% to
90%, lower half of the range) recovery for the first-lien
debtholders in the event of default.  S&P also corrected the
issue-level rating on the company's $190 million, second-lien term
loan due 2023 by lowering it to 'CCC' from 'CCC+'.  The '6'
recovery rating is unchanged and indicates S&P's expectation of
negligible (0% to 10%) recovery for the second-lien debtholders.

The rating on Precyse continues to reflect S&P's view of the
company's business risk profile as weak, incorporating its small
scale and narrow market focus in the health care information
technology (IT) industry, offset by its large percentage of
revenues under multiyear contracts.  The highly leveraged financial
risk profile reflects leverage in the mid- to high-8x area in
fiscal 2016, after adjusting EBITDA by $28 million for software
development costs reported as capital expenditures, and is expected
to be in the mid-7x area in fiscal 2017.

The stable outlook reflects S&P's view of the company's stable
profitability, with a large portion of revenues under multiyear
contracts coming from its revenue cycle management SaaS solution,
and S&P's expectation that the company will continue to generate
positive FOCF over the next 12 months.

S&P would consider a higher rating over a longer term if healthcare
providers, currently faced with extremely low margins, look to take
advantage of the proposed value proposition of increased revenue
yields and cost reduction that RCM technologies and services can
provide, leading to consistent revenue growth and sustained
leverage below 7x on a Standard & Poor's-adjusted basis.

S&P could lower the rating if the company faces stronger
competition in the higher margin, fragmented revenue cycle
management (RCM) industry leading to lower renewal rates with its
SaaS solutions, or if there is a shift in medical service
outsourcing trends with hospitals bringing these services back in
house, leading to negative cash flow or we assess liquidity at less
than adequate.


PRESSURE BIOSCENCES: Delays Filing of Form 10-K Report
------------------------------------------------------
Pressure Biosciences, Inc. said it was unable, without unreasonable
effort or expense, to file its annual report on Form 10-K for the
year ended Dec. 31, 2015, by the March 30, 2016, filing date
applicable to smaller reporting companies due to a delay
experienced by the Registrant in completing its financial
statements and other disclosures in the Annual Report.  As a
result, the Company is still in the process of compiling required
information to complete the Annual Report and its independent
registered public accounting firm requires additional time to
complete its review of the financial statements for the year ended
Dec. 31, 2015, to be incorporated in the Annual Report.  The
Company anticipates that it will file the Annual Report no later
than the fifteenth calendar day following the prescribed filing
date, according to a regulatory filing with the Securities and
Exchange Commission.

                     About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $6.25 million on $1.37 million of revenue for the
year ended Dec. 31, 2014, compared to a net loss applicable to
common shareholders of $5.24 million on $1.5 million of total
revenue for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $2.21 million in total
assets, $6.70 million in total liabilities and a total
stockholders' deficit of $4.49 million.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, noting that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern, the auditors
said.


PRIMORSK SHIPPING: Drops Restructuring Plans to Pursue Sale
-----------------------------------------------------------
Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,
reported that following a pre-emptive strike by senior lenders,
Primorsk International Shipping Ltd. told a bankruptcy judge on
April 1 that the oil shipper has dropped its restructuring plans in
favor of a sale.

According to the report, during a hearing in Manhattan, Primorsk
attorney Brian Glueckstein told U.S. Bankruptcy Court Judge Martin
Glenn that the reorganization plan has been withdrawn and that
instead the company will soon ask for approval to send its assets
to the auction block via a court-supervised sale process.

Primorsk abruptly withdrew its restructuring plan after Nordea Bank
Norge ASA, which leads a group of senior lenders owed about $263
million, sought to block the proposal, alleging it had been
engineered to benefit the company's insiders and affiliates, the
report related.  Nordea, the Norwegian arm of the Swedish banking
group, instead demanded that Primorsk abandon the plan and begin
selling off its oil-shipping fleet to repay its debts, the report
said.

                   About Primorsk International

Headquartered in Nicosia, Cyprus, Primorsk International Shipping
Limited (Prisco) aka PISL operates a fleet of ice-class oil
tankers
in the Arctic.  It was founded in 2004 and is owned by Apington
Investments, a British Virgin Islands holding company, which is
controlled by Russian native Alexander Kirilichev.

Primorsk sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 16-10073) in New York, in the U.S., on Jan. 15, 2016.
Affiliates Boussol Shipping Limited, Malthus Navigati on Limited,
Jixandra Shipping Limited, Levaser Navigation Limited, Hermine
Shipping Limited, Laperouse Shipping Limited (Bankr. S.D.N.Y. Case
No. 16-10079), Prylotina Shipping Limited, Baikal Shipping Ltd,
and
Vostok Navigation Ltd. also filed separate Chapter 11 bankruptcy
petitions.  The bankruptcy petitions were signed by Holly Felder
Etlin, chief restructuring officer.  Judge Martin Glenn presides
over the cases.

Primorsk estimated assets and liabilities between $100 million and
$500 million.

Andrew G. Dietderich, Esq., at Sullivan & Cromwell LLP serves as
the Debtors' bankruptcy counsel.  AlixPartners, LLP, is the
Debtors' financial and restructuring advisor.


PURADYN FILTER: Incurs $1.44 Million Net Loss in 2015
-----------------------------------------------------
Puradyn Filter Technologies Incorporated filed with the Securities
and Exchange Commission its annual report on Form 10-K disclosing a
net loss of $1.44 million on $1.97 million of net sales for the
year ended Dec. 31, 2015, compared to a net loss of $1.15 million
on $3.11 million of net sales for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Puradyn had $1.42 million in total assets,
$13.94 million in total liabilities and a total stockholders'
deficit of $12.51 million.

Liggett & Webb, P.A., in Boynton Beach, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has
experienced net losses since inception and negative cash flows from
operations and has relied on loans from related parties to fund its
operations.  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/fS16iu

                     About Puradyn Filter

Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated
(OTC BB: PFTI) designs, manufactures and markets the puraDYN's Oil
Filtration System.


RCS CAPITAL: Creditors' Panel Hires FTI as Financial Advisor
------------------------------------------------------------
The Official Committee of Unsecured Creditors of RCS Capital
Corporation and its debtor-affiliates seeks authorization from the
U.S. Bankruptcy Court for the District of Delaware to retain FTI
Consulting, Inc. as financial advisor to the Committee, nunc pro
tunc to February 11, 2016.

The Committee requires FTI Consulting to:

   (a) assist in the review and analysis of the Restructuring
       Support Agreement, the key economic terms contained therein

       and identification of potential improvements to the RSA for

       the benefit of unsecured creditors;

   (b) assist in the preparation of analyses required to assess
       any proposed Debtor-In-Possession financing or use of cash
       collateral;

   (c) assist with the review and assessment of the Debtors'
       applications to employ professionals, including legal,
       financial and investment banking advisors;

   (d) assist with the assessment and monitoring of the Debtors'
       short term cash flow, liquidity, and operating results;

   (e) assist with the review of the Debtors' proposed key
       employee retention and other employee benefit programs,
       including the broker loan programs and ordinary course
       bonus payments;

   (f) assist with the review of the Debtors' analysis of core
       business assets and the potential disposition or
       liquidation of non-core assets;

   (g) assist with the review of the Debtors' cost/benefit
       analysis with respect to the assumption or rejection of
       various executory contracts and leases;

   (h) assist with the review of the Debtors' identification of
       potential cost savings, including overhead and operating
       expense reductions and efficiency improvements;

   (i) assist in the review and monitoring of the asset sales,
       including, but not limited to, an assessment of the
       adequacy of the marketing process, completeness of any
       buyer lists, review and quantifications of any bids;

   (j) assist in the review of financial related disclosures
       required by the Court, including the Schedules of Assets
       and Liabilities, the Statement of Financial Affairs and
       Monthly Operating Reports.

FTI will seek payment for compensation on a fixed monthly basis of
$150,000 per month and a completion fee of $600,000, plus
reimbursement of actual and necessary expenses incurred by FTI.

Conor P. Tully, senior managing director with FTI, 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.

FTI can be reached at:

       Conor P. Tully
       FTI CONSULTING, INC.
       Three Times Square, 9th Floor
       New York, NY, 10036
       Tel: (212) 247-1010
       Fax: (212) 841-9350
       E-mail: conor.tully@fticonsulting.com

                     About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The RCS Debtors' petitions were signed
by David Orlofsky as chief restructuring officer. The Debtors
disclosed total assets of $1.97 billion and total debts of $1.39
billion.  RCS Capital Corp. disclosed total assets of
$1,403,924,232 and total liabilities of $912,449,960.

RCS Capital's affiliates led by Cetera Advisor Networks Insurance
Services, LLC and Cetera Financial Group, Inc. filed separate
Chapter 11 petitions (Bankr. D. Del. Case Nos. 16-10730 to
16-10748) on March 26, 2016.  The cases are jointly administered
under the Chapter 11 case of RCS Capital Corporation, Case No.
16-10223.

The RCS and Cetera Debtors have engaged Dechert LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as Delaware counsel,
Zolfo Cooper Management, LLC as restructuring advisor, Lazard
Freres & Co. LLC as investment banker and Prime Clerk LLC as
administrative advisor and claims and noticing agent.

Cetera Advisor Networks Insurance Services, LLC, estimated under
$50,000 in assets and $500 million to $1 billion in debts.  The
Cetera Debtors' petitions were signed by Carol Flaton, chief
restructuring officer.


RCS CAPITAL: Creditors' Panel Hires Gibson Dunn as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of RCS Capital
Corporation and its debtor-affiliates seeks authorization from the
U.S. Bankruptcy Court for the District of Delaware to retain
Gibson, Dunn & Crutcher LLP as counsel to the committee, nunc pro
tunc to February 11, 2016.

The Committee requires Gibson Dunn to:

   (a) consult with the Committee via in-person and telephonic
       meetings concerning the Chapter 11 cases;

   (b) advise the Committee of its rights, powers, and duties
       during the Chapter 11 cases;

   (c) assist the Committee in investigating the acts, conduct,
       assets, liabilities and financial condition of the Debtors,

       the operation of the Debtors' businesses, and any matters
       related to the Chapter 11 cases;

   (d) review and analyze all complaints, motions, applications,
       orders and other pleadings filed with the Court, as
       appropriate, and advise the Committee with respect to its
       position thereon and the filing of any response thereto;

   (e) participate in the Chapter 11 cases to the extent such
       cases affect the rights and interests of the unsecured
       creditors of the Debtors, including but not limited to the
       sale of the Debtors' assets, the formulation of a Chapter
       11 plan or plans, and confirmation of such plan or plans;

   (f) assist the Committee in preparing pleadings and
       applications, and pursuing or participating in adversary
       proceedings, contested matters and the administrative
       proceedings as may be necessary or appropriate in
       furtherance of the Committee's interest and objectives;

   (g) represent the Committee at all hearings and other
       proceedings before the Court and such other courts or
       tribunals, as appropriate;

   (h) assist and advise the Committee with respect to its
       communications with the general creditor body regarding
       significant matters in the Chapter 11 cases; and

   (i) perform such other legal services in connection with the
       Chapter 11 cases as may be necessary or as may be requested

       by the Committee in accordance with the Committee's powers
       and duties as set forth in the Bankruptcy Code.

Gibson Dunn will be paid at these hourly rates:

       Partners                 $995-$1,165
       Associates               $585-$855
       Paraprofessionals        $310-$410

Gibson Dunn will also be reimbursed for reasonable out-of-pocket
expenses incurred.

David M. Feldman, partner of Gibson Dunn, 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.

Consistent with the U.S. Trustee Fee Guidelines, Gibson Dunn
provided:

    -- Gibson Dunn has not agreed to a variation of its standard
       or customary billing arrangements for this engagement;

    -- none of Gibson Dunn's professionals included in this
       engagement have varied their rate based on the geographic
       location of these chapter 11 cases;

    -- Gibson Dunn did not represent the Committee in the 12
       months prepetition; and

    -- although Gibson Dunn has not yet developed a prospective
       budget and staffing plan, the Committee has approved Gibson

       Dunn's proposed hourly billing rates. The Committee has
       also approved the Gibson Dunn attorneys staffed on this
       engagement; subject to modification depending upon further
       case developments.

Gibson Dunn can be reached at:

       David M. Feldman, Esq.
       GIBSON, DUNN & CRUTCHER LLP
       200 Park Avenue
       New York, NY 10166
       Tel: (212) 351-4000
       Fax: (212) 351-4035
       E-mail: dfeldman@gibsondunn.com

                     About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The RCS Debtors' petitions were signed
by David Orlofsky as chief restructuring officer. The Debtors
disclosed total assets of $1.97 billion and total debts of $1.39
billion.  RCS Capital Corp. disclosed total assets of
$1,403,924,232 and total liabilities of $912,449,960.

RCS Capital's affiliates led by Cetera Advisor Networks Insurance
Services, LLC and Cetera Financial Group, Inc. filed separate
Chapter 11 petitions (Bankr. D. Del. Case Nos. 16-10730 to
16-10748) on March 26, 2016.  The cases are jointly administered
under the Chapter 11 case of RCS Capital Corporation, Case No.
16-10223.

The RCS and Cetera Debtors have engaged Dechert LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as Delaware counsel,
Zolfo Cooper Management, LLC as restructuring advisor, Lazard
Freres & Co. LLC as investment banker and Prime Clerk LLC as
administrative advisor and claims and noticing agent.

Cetera Advisor Networks Insurance Services, LLC, estimated under
$50,000 in assets and $500 million to $1 billion in debts.  The
Cetera Debtors' petitions were signed by Carol Flaton, chief
restructuring officer.


RCS CAPITAL: Creditors' Panel Hires Klehr Harrison as Co-counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of RCS Capital
Corporation and its debtor-affiliates seeks authorization from the
U.S. Bankruptcy Court for the District of Delaware to retain Klehr
Harrison Harvey Branzburg LLP as Delaware co-counsel, nunc pro tunc
to February 12, 2016.

The Committee requires Klehr Harrison to:

   (a) provide legal advice regarding local rules, practices,
       precedent and procedures and providing substantive and
       strategic advice on how to accomplish the Committee's goals

       in connection with the prosecution of these cases, bearing
       in mind that the Court relies on co-counsel such as Klehr
       Harrison to be involved in all aspects of each bankruptcy
       proceeding;

   (b) appear in Court, depositions, and at any meeting with the
       U.S. Trustee and any meeting of creditors at any given time

       on behalf of the Committee as their co-counsel;

   (c) perform various services in connection with the
       administration of these cases, including without
       limitation, (i) preparing certificates of no objection,
       certifications of counsel, notices of fee applications and
       hearings, and hearing binders of documents and pleadings,
       (ii) monitoring the docket for filings and coordinating
       with Committee co-counsel on pending matters that need
       responses, (iii) preparing and maintaining critical dates
       memoranda to monitor pending applications, motions, hearing

       dates and other matters and the deadlines associated with
       the same, and (iv) handling inquiries and calls from
       creditors and counsel to interested parties regarding
       pending matters and the general status of these cases and
       coordinating with Committee co-counsel on any necessary
       responses;

   (d) perform all services for the Committee in which Gibson may
       have a conflict of interest;

   (e) perform all other services assigned by the Committee, in
       consultation with Gibson, to Klehr Harrison as co-counsel
       to the Committee; and

   (f) perform such other services as may be required to represent

       the Committee's interests in the Chapter 11 cases.

Klehr Harrison will be paid at these hourly rates:

       Richard M. Beck, Partner      $595
       Sally E. Veghte, Associate    $320
       Melissa Hughes, Paralegal     $190
       Partners                      $360-$710
       Associates                    $230-$425
       Paralegals                    $150-$300

Klehr Harrison will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Richard M. Beck, member of Klehr Harrison, 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.

Klehr Harrison can be reached at:

       Richard M. Beck, Esq.
       KLEHR HARRISON HARVEY BRANZBURG LLP
       919 Market Street, Suite 1000
       Wilmington, DE 19801
       Tel: (302) 426-1189
       Fax: (302) 426-9193
       E-mail: rbeck@klehr.com

                     About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The RCS Debtors' petitions were signed
by David Orlofsky as chief restructuring officer. The Debtors
disclosed total assets of $1.97 billion and total debts of $1.39
billion.  RCS Capital Corp. disclosed total assets of
$1,403,924,232 and total liabilities of $912,449,960.

RCS Capital's affiliates led by Cetera Advisor Networks Insurance
Services, LLC and Cetera Financial Group, Inc. filed separate
Chapter 11 petitions (Bankr. D. Del. Case Nos. 16-10730 to
16-10748) on March 26, 2016.  The cases are jointly administered
under the Chapter 11 case of RCS Capital Corporation, Case No.
16-10223.

The RCS and Cetera Debtors have engaged Dechert LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as Delaware counsel,
Zolfo Cooper Management, LLC as restructuring advisor, Lazard
Freres & Co. LLC as investment banker and Prime Clerk LLC as
administrative advisor and claims and noticing agent.

Cetera Advisor Networks Insurance Services, LLC, estimated under
$50,000 in assets and $500 million to $1 billion in debts.  The
Cetera Debtors' petitions were signed by Carol Flaton, chief
restructuring officer.


RCS CAPITAL: Prime Clerk Approved as Claims and Noticing Agent
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
RCS Capital Corporation, et al., to employ Prime Clerk as claims
and noticing agent nunc pro tunc to the Petition Date.

Prime Clerk is expected to perform noticing services and to
receive, maintain record and otherwise administer the proofs of
claim filed in the Chapter 11 cases.

Prime Clerk will serve as custodian of Court record and will be
designated as the authorized repository for all proofs of claim
filed in the Chapter 11 cases and is authorized and directed to
maintain an official claims register for the Debtors and to provide
the Clerk with a certified duplicate thereof upon the request of
the Clerk.

As reported by the Troubled Company Reporter on Feb. 3, 2016, by
appointing Prime Clerk as the Claims Agent, the Debtors expect that
the distribution of notices and the processing of claims will be
expedited, and the Office of the Clerk of the Bankruptcy Court will
be relieved of the administrative burden of processing claims.

Prime Clerk's claims and noticing rates are:

      Title                               Hourly Rate
      -----                               -----------
      Analyst                               $30-$45
      Technology Consultant                 $65-$75
      Consultant                            $80-$130
      Senior Consultant                    $135-$150
      Director                             $170-$190
      Solicitation Consultant                $190
      Director of Solicitation               $210

The Debtors requested that the fees and expenses incurred by Prime
Clerk in the performance of the services be treated as
administrative expenses of their estates and be paid in the
ordinary course of business without further application to, or
order of, the Court.

Prior to the Petition Date, the Debtors provided Prime Clerk a
retainer of $50,000.  Prime Clerk seeks to hold the Retainer during
the Debtors' cases as security for the payment of fees and expenses
incurred under the Engagement Agreement.

The Debtors have agreed to indemnify, defend and hold harmless
Prime Clerk and its members, officers, employees, representatives
and agents under certain circumstances specified in the Engagement
Agreement, except in circumstances resulting solely from Prime
Clerk's gross negligence or willful misconduct or as otherwise
provided in the Engagement Agreement or Retention Order.

Prime Clerk represents it is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code with respect
to the matters upon which it is engaged.

                         About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm  
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The petitions were signed by David
Orlofsky as chief restructuring officer. The Debtors disclosed
total assets of $1.97 billion and total debts of $1.39 billion.
RCS Capital Corp. disclosed total assets of $1,403,924,232 and
total liabilities of $912,449,960.

The Debtors have engaged Dechert LLP as general counsel, Young
Conaway Stargatt & Taylor, LLP as Delaware counsel, Zolfo Cooper
Management, LLC as restructuring advisor, Lazard Freres & Co. LLC
as investment banker and Prime Clerk LLC as administrative advisor
and claims and noticing agent.


REX ENERGY: Moody's Lowers CFR to Ca, Outlook Remains Negative
--------------------------------------------------------------
Moody's Investors Service downgraded REX Energy Corporation's
(REXX) Corporate Family Rating to Ca from Caa3, its Probability of
Default Rating to Ca-PD/LD from Caa3-PD, its senior unsecured notes
to C from Ca.  Moody's affirmed the SGL-4 Speculative Grade
Liquidity (SGL) Rating and the rating outlook remains negative.

"The downgrade reflects the poor overall recovery prospects as
indicated by REXX's PV-10 value.  The negative outlook is driven by
the weak commodity price environment, specifically in natural gas
pricing, which could further erode REXX's recovery value,"
commented Sreedhar Kona, Moody's Senior Analyst.

                         RATINGS RATIONALE

On March 31, 2016, REXX announced the closing of the Offer to
Exchange Outstanding 8.875% Senior Notes due 2020 and 6.250% Senior
Notes due 2022 for New 1.00%/8.00% Senior Secured Second Lien Notes
due 2020 and Shares of Common Stock.  Moody's considers REXX's
exchange of unsecured notes as a distressed exchange, which Moody's
considers a default.  As noted above, Moody's appended the Ca-PD
PDR with a "/LD" designation indicating limited default.  The "/LD"
designation will be removed three business days hereafter.
Although, the unsecured notes were exchanged at par with the second
lien notes, the bondholders that participated in the exchange will
bear some loss of the interest payments. Additionally, Moody's
deems the exchange event as an avoidance of default.

In exchange for $323,980,000 in aggregate principal amount of the
2020 Notes, representing approximately 92.57% of the outstanding
aggregate principal amount of the 2020 Notes, and $309,135,000 in
aggregate principal amount of the 2022 Notes, representing
approximately 95.12% of the outstanding aggregate principal amount
of the 2022 Notes, the Company (i) issued $633,657,047 aggregate
principal amount of its New Notes and (ii) issued 8,412,615 Shares.
The New Notes will bear interest at a rate of 1.0% per annum for
the first three semi-annual interest payments after issuance and
8.0% per annum payable in cash thereafter.

Downgrades:

Issuer: Rex Energy Corporation

  Corporate Family Rating, Downgraded to Ca from Caa3

  Probability of Default Rating, Downgraded to Ca-PD from Caa3-
   PD/LD

  Senior Unsecured Regular Bond/Debentures, Downgraded to C (LGD
   6) from Ca (LGD 4)

Affirmations:

  Speculative Grade Liquidity Rating, Affirmed SGL-4

Outlook Actions:

  Outlook, Remains Negative

The downgrade of the CFR to Ca from Caa3 reflects the continued
deterioration of the commodity price environment and weaker asset
value, resulting in lower potential recovery.  The recent reduction
of the borrowing base to $190 million and the PV-10 value of
approximately $300 million are a reflection of this deterioration.
Although the debt exchange provides a temporary reprieve from the
interest burden, liquidity will continue to be stressed in 2017 and
the risk of default remains elevated.

The company's senior unsecured notes ($26 million of 8.875% notes
due 2020 and $16 million of 6.25% notes due 2022) were downgraded
to C.  This is one notch below the CFR, reflecting the notes'
contractual subordination to the (unrated) $190 million secured
borrowing base revolving credit facility due 2019 and the new $634
million second lien notes due 2020.  The revolver and the second
lien notes rank ahead of the senior unsecured notes.

The SGL-4 rating reflects Moody's expectation that REXX's liquidity
will remain weak through the next 12-18 months.  Although REXX's
2016 EBITDA might be able to cover the reduced interest expense
resulting from the debt exchange and expected capital budget of $15
- $25 million, the 2017 EBITDA prospects are very weak leading to
an increased reliance on external sources to fund interest expense.
As of Dec. 31 2015, REXX had $1.1 million of cash on its balance
sheet.  The $190 million borrowing base revolving credit facility
had $37 million availability ($111.5 million of outstanding
borrowings and $41 million of undrawn letters of credit as of Dec.
31 2015).  The availability under the revolver could be impacted
further if the borrowing base is redetermined to a lower level in
fall 2016.  There are no debt maturities until 2019, when the
revolver commitments expire.  Moody's sees a significant risk to
the company's ability to remain in compliance with its financial
maintenance covenants (maximum net senior secured debt/EBITDAX of
2.75x and current ratio of 1.0x) in the first half of 2017.
Substantially all of the company's assets are pledged as collateral
to the revolving credit facility and any net proceeds from asset
sales have to be used to reduce outstanding revolver balances
leaving limited alternative liquidity.

The negative outlook reflects REXX's continued liquidity stress and
the risk of default.

A downgrade could occur if the company is likely to file for
protection or undertakes a subsequent debt restructuring.

A rating upgrade is not expected through 2016 due to the company's
weak cash flow outlook.  An upgrade will be considered if the
company improves RCF/Debt to above 10% and sustains EBITDA/interest
at above 1.5x.  Liquidity must improve to at least adequate levels
for ratings to be considered for an upgrade.

Headquartered in State College, PA, REXX is a publicly traded
independent, exploration and production company with operations
concentrated in the Appalachian and the Illinois Basins.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.


REXFORD PROPERTIES: Hires Palmer to Appraise Island Waterpark
-------------------------------------------------------------
Rexford Properties LLC seeks authorization from the Hon. Martin R.
Barash of the U.S. Bankruptcy Court for the Central District of
California to employ James G. Palmer Appraisals Inc. as appraiser,
effective February 19, 2016.

The Debtor owns the Island Waterpark in Fresno, California. The
Waterpark is a family friendly water-themed amusement park
featuring a variety of rides and attractions for both children and
adults. The Waterpark is located on a plot of land off Highway 99
and Shaw Avenue in Fresno.

The Debtor has an immediate need to employ Palmer as its appraiser
to, among other things, provide valuation analysis of the Debtor's
Property and to provide expert testimony on valuation matters, if
required, in connection with plan confirmation.

Palmer has submitted a proposal to the Debtor to appraise the
Property in a timely manner for a flat fee of $6,500, with
compensation for services and reimbursement of expenses to be paid
from the Debtor's estate

In addition to the Appraisal Fee, any time spent on work done
subsequent to the appraisal, including for expert testimony, will
be billed at Mr. Palmer's rate of $385 per hour.

Gregg J. Palmer, principal of Palmer, 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.

Palmer can be reached at:

       Gregg J. Palmer
       JAMES G. PALMER APPRAISALS INC.
       1285 W. Shaw Ave, Suite 108
       Fresno, CA 93711
       Tel: (559) 226-5020
       Fax: (559) 226-5063

                    About Rexford Properties

Rexford Properties LLC is a California limited liability company
that owns the Island Waterpark in Fresno, California.  The
Waterpark is a family friendly water-themed amusement park
featuring a variety of rides and attractions including a wave park,
a lazy river, a three story water slide, and other attractions for
both children and adults.  The Waterpark is located on a plot of
land off Highway 99 and Shaw Avenue in Fresno.  Rexford owns the
underlying land and the improvements and other assets of the
Waterpark, and utilizes the assistance of third party manager /
independent contractor to operate the Waterpark.

Rexford Properties LLC filed for Chapter 11 protection (Bank. C.D.
Cal. Case No. 15-12116) on June 16, 2015.  The petition was signed
by Lisa Ehrlich, managing member.  Bankruptcy Judge Martin R.
Barash presides over the case.

The Debtor disclosed total assets of $1,107,620 plus an unknown
amount and total liabilities of $12,883,441.

Prepetition, the Debtor obtained a series of loans from companies
related to the Ehrlich family to construct the Waterpark, but all
were unsecured.  The only secured loan that the Debtor has is the
postpetition debtor-in-possession loan approved by the Court in an
order entered Dec. 31, 2015.  The lender under the DIP Loan is The
1979 Ehrlich Investment Trust, and the total maximum principal
balance of the DIP Loan is $2 million.

Michael M. Lauter, Esq., at Sheppard Mullin Richter & Hampton LLP,
represents the Debtor in its restructuring effort.



RICEBRAN TECHNOLOGIES: Reports $10.6 Million Net Loss for 2015
--------------------------------------------------------------
RiceBran Technologies filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$10.6 million on $39.9 million of revenues for the year ended Dec.
31, 2015, compared to a net loss of $26.6 million on $40.10 million
of revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, RiceBran had $33.63 million in total assets,
$26.29 million in total liabilities, $69,000 in temporary equity
and $7.26 million in total equity attributable to the Company's
shareholders.

The Company's auditors Marcum LLP, in New York, NY, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has suffered
recurring losses from operations resulting in an accumulated
deficit of $251 million at December 31, 2015.  This factor among
other things, raises substantial doubt about its ability to
continue as a going concern.

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

                      http://is.gd/rLyoik

                         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.


RIVERSIDE PLAZA: Seeks April 12 Extension of Schedules
------------------------------------------------------
Riverside Plaza Developers LLC asks the U.S. Bankruptcy Court for
the Northern District of Illinois, Eastern Division, to extend its
time to file its schedules and statement of financial affairs until
April 12, 2016.

The Debtor contends that this extension would allow the U.S.
Trustee seven days to review the schedules and statement prior to
the meeting of creditors on April 19, 2016.

The Debtor  tells the Court that it is in the process of compiling
and reviewing the necessary information to complete the Schedules
and Statements.  The Debtor hopes to be in a position to file the
Schedules and Statements by the current deadline of March 28, 2016.
The Debtor relates that it seeks a modest extension until April
12, 2016, out of an abundance of caution.

Riverside Plaza Developers LLC is represented by:

          Neal L. Wolf, Esq.
          John A. Benson, Jr., Esq.
          TETZLAFF LAW OFFICES, LLC
          227 W. Monroe Street, Suite 3650
          Chicago, IL 60606
          Telephone: (312)574-1000
          Facsimile: (312)574-1001
          E-mail: nwolf@tetzlafflegal.com
                 jbenson@tetzlafflegal.com



RIVERSIDE PLAZA: Seeks to Use UCF Cash Collateral
-------------------------------------------------
Riverside Plaza Developers LLC asks the U.S. Bankruptcy Court for
the Northern District of Illinois, Eastern Division, for
authorization to use cash collateral.

The Debtor owns and operates mixed-use property that derives
revenue from rent paid by 43 residential tenants, amounting to
approximately $80,000 per month.

The Debtor tells the Court that it needs the use of its cash to
continue to care for and maintain the property at a high level, to
keep its existing tenants, to grow its rent rolls, to build out its
9,200 square feet of commercial space for potential new commercial
tenants, and to pay professional fees associated with its
reorganization.  It further tells the Court that all such uses will
redound to the benefit of creditors -- secured and unsecured alike,
of tenants, and of the Village of Algonquin.

UCF I Trust 1 ("UCF") appears to have a security interest in its
cash as well as a mortgage on the property.  The Debtor further
relates that UCF is owed approximately $13 million.

The Debtor proposes to use cash collateral on an interim basis for
a period of 30 days pursuant to the proposed Interim Cash
Collateral Order submitted and the proposed budget.  The Debtor
further proposes that it be permitted to exceed any individual line
item as long as the total expended during the period does not
exceed 110% of the total Budget.  The Debtor alleges that it only
seeks the use of Cash Collateral as is necessary to avoid immediate
and irreparable harm to the estate pending a final hearing.

As adequate protection for the Lender's interest in the Cash
Collateral, the Debtor proposes that the Lender be granted
replacement liens in the Debtor's postpetition assets to the same
extent, validity and priority as the Lender's prepetition liens.

The Debtor contends that if it is denied the ability to immediately
use the Cash Collateral, there will be a direct and immediate
material and adverse impact on the continuing operations of its
business and the value of its assets.  The Debtor further contends
that its inability to pay its ordinary business expenses will
require it to discontinue normal operations, which will likely
result in irreparable harm to the Debtor, its tenants and its
creditors.

The Debtor's Motion is supported by the Declaration of John
Breugelmans, sole member and sole manager of RPD Project
Management, LLC.

Riverside Plaza Developers LLC is represented by:

          Neal L. Wolf, Esq.
          John A. Benson, Jr., Esq.
          TETZLAFF LAW OFFICES, LLC
          227 W. Monroe Street, Suite 3650
          Chicago, IL 60606
          Telephone: (312)574-1000
          Facsimile: (312)574-1001
          E-mail: nwolf@tetzlafflegal.com
                  jbenson@tetzlafflegal.com


SANUWAVE HEALTH: Incurs $4.81 Million Net Loss in 2015
------------------------------------------------------
SANUWAVE Health, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$4.81 million on $965,501 of revenues for the year ended Dec. 31,
2015, compared to a net loss of $5.97 million on $847,367 of
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $958,361 in total assets,
$6.83 million in total liabilities and a total stockholders'
deficit of $5.87 million.

BDO USA, LLP, in Atlanta, Georgia, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from operations and is dependent upon future issuances of
equity or other financing to fund ongoing operations, both of which
raise substantial doubt about its ability to continue as a going
concern.

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

                      http://is.gd/J9eikO

                      About SANUWAVE Health

Alpharetta, Ga.-based SANUWAVE Health, Inc., is an emerging global
regenerative medicine company focused on the development and
commercialization of noninvasive, biological response activating
devices for the repair and regeneration of tissue, musculoskeletal
and vascular structures.


SARATOGA RESOURCES: Balks at ERG Bid to Convert Case
----------------------------------------------------
Saratoga Resources filed with the U.S. Bankruptcy Court an
objection to Energy Reserves Group II's (ERG II) motion to convert
the Chapter 11 reorganization cases to liquidation under Chapter 7,
BankruptcyData reported.

According to the report, Saratoga Resources' objection explains,
"It is respectfully submitted that ERG II has failed to demonstrate
'cause' for conversion in their largely conclusory filing, and that
these Chapter 11 cases should not be converted to Chapter 7 cases
because such conversion would be detrimental to the interests of
the Debtors' estates as a whole. There are numerous difficulties
created as a result of a conversion, including the debtors' likely
inability to pay -- at least on a timely basis -- the postpetition
trade debt (to vendors who continue to provide Saratoga with
operational services and may have statutory liens and privileges on
the Subject Assets) incurred in the ordinary operations of the
Debtors' business and the payroll due to employees who continue to
preserve and maintain the assets, the lack of an orderly transition
of the operations to a new operator, and the potential acceleration
of environmental liabilities. The Debtors and the Committee
understand that the intention of ERG II (as the purchaser of the
First Lien Notes and the Second Lien Notes) is to acquire title to
the Subject Assets, which constitute substantially all of the
Debtors' producing assets, and, under the circumstances, do not
object to this goal under appropriate circumstances. However, ERG
II's doing so through a Section 363 sale in the chapter 11 cases
can be done quickly and without the risk of uncontrolled and
inevitable collateral damage to the Debtors' estates and creditors
resulting from a conversion. Selling the Subject Assets to ERG II
(which is the result ERG II wants to achieve anyway) in a prompt
Section 363 sale will allow the Debtors and ERG II to avoid the
problems which are inherent in chapter 7 liquidation."

                     About Saratoga Resources

Saratoga Resources -- http://www.saratogaresources.com/-- is an
independent exploration and production company with offices in
Houston, Texas and Covington, Louisiana.  Principal holdings cover
approximately 51,500 gross/net acres, mostly held by production,
located in the transitional coastline and protected in-bay
environment on parish and state leases of south Louisiana and in
the shallow Gulf of Mexico Shelf.  Most of the company's large
drilling inventory has multiple pay objectives that range from as
shallow as 1,000 feet to the ultra-deep prospects below 20,000
feet
in water depths ranging from less than 10 feet to a maximum of
approximately 80 feet.

Saratoga Resources, Inc., Harvest Oil & Gas, LLC, and their
affiliated debtors sought protection under Chapter 11 of the
Bankruptcy Code on June 18, 2015.  The lead case is In re Harvest
Oil & Gas, LLC, Case No. 15-50748 (Bankr. W.D. La.).

The Debtors are represented by William H. Patrick, III, Esq., at
Heller, Draper, Patrick, Horn & Dabney, LLC, in New Orleans,
Louisiana.


SCRUB ISLAND: Reorganized SIDG Can Borrow $6MM from J. Appleton
---------------------------------------------------------------
The Hon. Michael G. Williamson of the U.S. Bankruptcy Court for the
Middle District of Florida authorized Scrub Island Development
Group Limited to borrow funds under the subordinated line of credit
facility.

The line of credit will be made available to Reorganized SIDG by
Jeffrey Appleton or an entity to be formed by him, and may, without
limiting any other use of those funds, use the borrowed monies to
fund the purchase of the LV14 Villa Shares and the settlement with
Enjoy Life Corp., which settlement will be approved by separate
order.

Reorganized SIDG has sought and obtained approval from the Court of
a compromise of controversy or settlement agreement with Enjoy
Life.  Reorganized SIDG told the Court that it has closed on its
settlement with FirstBank Puerto Rico, has closed on the five
partially constructed Longview neighborhood villas or lots
described in the Modified Plan, has drawn $4.7 million from RCB
Equities No.1, LLC, and is current on plan payments to creditors.

Richard Gaudet, as Plan Administrator, has made his initial report
for the quarter ended Sept. 30, 2015.  Reorganized SIDG has
contracts or letters of intent to sell two Little Scrub Island lots
for $450,000 each, or a total of $900,000.

The Enjoy Life Compromise Motion provides, among other things,
that:

   1. Reorganized SIDG will acquire the equity interests in Enjoy
Life Corp., the owner of the LV14 Villa, in exchange for $2,700,000
and Enjoy Life Corp. will waive its $120,000 claim against the
estate.

   2. As this Court is aware, the Modified Plan was funded
principally by an infusion of $4,500,000 by the Reorganized SIDG
shareholders and by a loan from RCB.  The motion sougt formal
approval of an additional subordinated line of credit of $6,000,000
that will fund the Enjoy Life Corp. settlement and will provide
Reorganized SIDG with a source of funds for other activities,
including further capital improvements, payments to FirstBank and
RCB, and payments to others creditors under the Modified Plan.

   3. The new line of credit will be subordinate to the claims of
FirstBank and RCB.

The material terms of the Term Sheet are summarized as:

   a. Line of Credit Amount: $6,000,000 principal amount.

   b. Use of Funds: Funds advanced under the line of credit will be
used by Reorganized SIDG to acquire all of the LV14 Villa Shares,
including to pay off the first charge of FirstBank on the LV14
Villa, and may otherwise be used by Reorganized SIDG in its
discretion as agreed to between Appleton and Reorganized SIDG. Such
funds may be used to make payments to FirstBank under the FirstBank
Loan Agreement and RCB under the RCB Loan Agreement.

   c. Subordination: Repayment of amounts advanced under the line
of credit will be subordinate to the loan obligations of
Reorganized SIDG to FirstBank and RCB. Appleton will have no
mortgage, charge or lien on any existing collateral of FirstBank or
RCB. Reorganized SIDG will repay the line of credit upon the sale
of the LV14 Villa to a third party, including any profit derived
from such sale.  Apart from the proceeds from the sale of the LV14
Villa or new capital contributions, Reorganized SIDG will repay the
line of credit from any unrestricted share of the proceeds from
Longview Villa property sales to which Reorganized SIDG is entitled
and that it is not required to be transferred to RCB under the RCB
Loan Agreement.  Reorganized SIDG may use other sources to repay
Appleton if, and only if, such payments do not constitute a default
under the FirstBank Loan Agreement or the RCB Loan Agreement.

   d. Interest Rate: 10% per annum, charged on any amounts drawn.
Interest will accrue until repaid as permitted herein.

   e. Repayment: There will be a mandatory repayment of principal
and then outstanding interest upon the sale of the LV14 Villa in
the amount of100% of the net sales proceeds (after closing costs
and expenses) from such sale.  The balance of the principal and
interest may be paid from time to time as provided above.  Any
outstanding balance will be paid on the maturity date, together
with accrued interest.

   f. Maturity Date: July 31, 2023.

   g. Collateral: Appleton will receive a first position charge on
the LV14 Villa upon its acquisition by Reorganized SIDG. It is the
intention of Reorganized SIDG to sell the LV14 Villa as part of its
marketing plan.

   h. Equity: At closing, Appleton will be entitled to shares in
Reorganized SIDG equal to 7.5% of the total outstanding equity
interests in Reorganized SIDG, and Reorganized SIDG will issue such
shares to Appleton subject to him applying for and receiving a
Non-Belongers Land Holding License.

   i. Remedies: If Reorganized SIDG has not closed on a third-party
sale of the LV14 Villa by June 30, 2017, Appleton may request that
Reorganized SIDG transfer fee title to the LV14 Villa to him or his
designee, and Reorganized SIDG will do so. Reorganized SIDG will at
the time of transfer of the LV14 Villa to Appleton receive a credit
against the amount then outstanding under the line of credit for
the fair market value of the LV14 Villa as established by an
appraiser mutually satisfactory to
Reorganized SIDG and Appleton. Other than the right to request a
deed to the LV14 Villa, Appleton will take no action to enforce his
claims on the line of credit against Reorganized SIDG until
FirstBank and RCB have been paid in full.

   j. Closing Date: 10 days from the entry of an order by the Court
approving the line of credit, provided, however, that Reorganized
SIDG and Appleton may, in their discretion, close prior to such
approval upon receipt of written approval of this Term Sheet from
FirstBank and RCB.

Reorganized SIDG and Appleton may jointly waive the conditions for
closing.

Reorganized SIDG is represented by:

        Harley E. Riedel, Esq.
        Charles A. Postler, Esq.
        Daniel R. Fogarty, Esq.
        STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
        110 East Madison Street, Suite 200
        Tampa, FL 33602
        Tel: (813) 229-0144
        Fax: (813) 229-1811
        E-mails: hriedel@srbp.com
                  cpostler@srbp.com
                  dfogarty@srbp.com

                         About Scrub Island

Scrub Island Development Group Ltd., the owner of a British Virgin
Islands luxury resort, and its affiliate, Scrub Island
Construction Limited, sought bankruptcy protection (Bankr. M.D.
Fla. Case Nos. 13-15285 and 13-15286) on Nov. 19, 2013, to end a
receivership Scrub Island claims was secretly put in place by its
lender.  The bankruptcy case is assigned to Judge Michael G.
Williamson.

The 230-acre resort operates as a Marriott Autograph Collection
property.  It has 52 rooms and suites, a spa and a 55-slip marina.

Scrub Island Development scheduled $126 million in assets and $131
million in liabilities.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the Debtor's prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Official Committee of Unsecured Creditors appointed in Scrub
Island's cases has retained Robert B. Glenn, Esq., Edwin G. Rice,
Esq., and Victoria D. Critchlow, Esq., at Glenn Rasmussen, P.A.,
as general counsel.

                         *     *     *

The Troubled Company Reporter, on Jan. 16, 2015, reported that
News, reported that Scrub Island Resort, Spa & Marina in the
British Virgin Islands prevailed over lender FirstBank Puerto Rico
and persuaded a bankruptcy judge in Tampa, Florida, to approve its
Chapter 11 reorganization plan.

According to the TCR, citing Bloomberg News, after an eight-day
trial, the judge rejected the bank's objections to the plan and
ruled that he can trim the bank's treatment under the plan if Scrub
Island wins the lender-liability suit.  Implementation of the plan
will enable Scrub Island to improve the property with an $18
million loan, the Bloomberg report said, citing a statement from
the resort.


SDI SOLUTIONS: 341 Meeting of Creditors Set for April 22
--------------------------------------------------------
The meeting of creditors of SDI Solutions LLC and SDI Opco Holdings
LLC is set to be held on April 22, 2016, at 2:00 p.m., according to
a filing with the U.S. Bankruptcy Court in 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 SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del., Case
Nos. 16-10627 and 16-10628) on March 13, 2016. The petition was
signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA Piper
LLP (US).  The Debtors tapped Gulf Atlantic Capital Corp. as their
financial advisor and Donlin, Recano & Company Inc. as their claims
and noticing agent.

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


SEA SHELL COLLECTIONS: Case Summary & 8 Unsecured Creditors
-----------------------------------------------------------
Debtor: Sea Shell Collections LLC
        380 Lurton Street
        Pensacola, FL 32505

Case No.: 16-30304

Type of Business: Owns and operates a shopping center

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       Northern District of Florida (Pensacola)

Debtor's Counsel: Richard Michael Colbert, Esq.
                  RICHARD M COLBERT PLLC
                  2717 Gulf Breeze Parkway
                  Gulf Breeze, FL 32563
                  Tel: 850-934-1003
                  Fax: 850-924-0503
                  E-mail: richardmcolbert@gmail.com

Total Assets: $21.3 million

Total Liabilities: $37.03 million

The petition was signed by James C. Moulton, president - Mouton
Propertis, Inc., manager.

List of Debtor's 8 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Allen D. Davis and Shirley         Junior Mortgage      $924,441
D. Davis
214 Dolphin St.
Gulf Breeze, FL
32561-4232

Armstrong Electric Co Inc.           Trade Debt          $15,963

Caldwell Associates                  Professional        $13,907
Architect, Inc.                         Fees

Clark Partington                     Professional        $42,110
Hart Larry Bond & Stack                Services

Helmsing Leach Hearlong Newman       Professional        $12,505
& Rouse                                 Fees

L. Pugh & Assoc Inc.                  Trade Debt          $9,137

MMI Mechanical Contractors Inc.       Trade Debt          $7,225

Stabilis Master Fund III, LLC         Judgment       $14,013,708
c/o John H. Adams, Esq.
30 S Spring St.
Pensacola, FL
32502-5612


SOUTHCROSS ENERGY: S&P Lowers CCR to 'CCC+', Outlook Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit and senior secured rating on Southcross Energy Partners L.P.
to 'CCC+' from 'B-'.  The outlook is negative.

The '3' recovery rating on the company's senior secured term loan
and revolving credit facility is unchanged.  The '3' recovery
rating indicates expectations for meaningful (50% to 70%; upper
half of the range) recovery if a payment default occurs.

The downgrade on Southcross reflects S&P's view it is dependent
upon favorable economic and market conditions to meet its financial
obligations.  Furthermore, with the partnership's covenants
including leverage step-downs later this year, S&P expects the
partnership to be in violation of their financial covenants through
2016.  As such, the partnership will rely on parent company,
Southcross Holdings Borrower L.P. (Holdings) for equity cures
related to those covenant violations.  Incorporated in Holdings
prepackaged plan of reorganization is an agreement to commit up to
$50 million to fund any potential equity cure requirements at
Southcross through fiscal 2016.  It also includes the repayment of
all past due obligations due to Southcross and current payment of
such obligations going forward which S&P believes will improve the
liquidity pressures the partnership is facing.  In S&P's view, if
commodity prices remain at current levels or weaken further, the
partnership could have covenant pressures in 2017 as weak commodity
prices could result in lower volumes and cash flow.

The negative outlook reflects S&P's view that if commodity prices
do not improve, the partnership's liquidity could remain under
pressure in 2017.


SPANISH BROADCASTING: Delays Filing of 2015 Annual Report
---------------------------------------------------------
Spanish Broadcasting System, Inc. filed with the U.S. Securities
and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended Dec.
31, 2015.

The Company said it was unable to file its Form 10-K prior to the
filing deadline without unreasonable effort or expense due to
unanticipated delays in resolving the accounting treatment of
certain deferred tax assets.  The Company expects to file the Form
10-K no later than the fifteenth calendar day following the
prescribed due date, as permitted by Rule 12b-25.

                    About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

Spanish Broadcasting reported a net loss of $20.0 million on $146
million of net revenue for the year ended Dec. 31, 2014, compared
with a net loss of $88.6 million on $154 million of net revenue in
2013.

As of Sept. 30, 2015, the Company had $457 million in total assets,
$551 million in total liabilities and a total stockholders' deficit
of $94 million.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  The rating outlook is stable.
"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.


SQUARETWO FINANCIAL: S&P Lowers ICR to 'D' on Missed Payment
------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
issuer credit rating on SquareTwo Financial Corp. to 'D' from
'CCC'.  S&P also lowered its ratings on the company's senior
second-lien notes to 'D' from 'CCC-'.  At the same time, S&P
removed the ratings from CreditWatch with negative implications,
where S&P placed them on Dec. 11, 2015.

The recovery rating remains '5', indicating S&P's expectation for
modest (10% to 30%, higher end of the range) recovery.

The rating actions follow the announcement by SquareTwo that it
will not make its scheduled April 1, 2016, interest payment on the
$290 million second-lien senior secured notes, due April 2017.

The company is currently negotiating with the holders of the
second-lien notes to restructure the debt and with the lenders on
its first-lien revolving bank facility to amend and extend the
facility.  The facility, with an impending maturity of April 6,
2016, had $134 million outstanding at year-end 2015.

"We not only expect the company to default on the second-lien
notes," said Standard & Poor's credit analyst Richard Zell.  "We
also are uncertain whether the company will be able to avoid a
general default on its obligations."

S&P believes the company would have to first win at least a
short-term extension from its first-lien lenders.  It would then
have to restructure the second-lien notes and either arrange for a
longer-term extension of first-lien facility or for a new
first-lien facility all together.  That may also require additional
capital.

S&P believes it is possible that the first-lien lenders will
provide the company with some flexibility -- perhaps through a
short-term extension -- in the hopes of avoiding involvement in a
bankruptcy.  However, S&P is uncertain whether SquareTwo will be
able accomplish the large task of restructuring the second-lien
notes, extending its existing first-lien facility, or arranging a
new facility, and potentially raising additional capital.  

In the event the company is able to limit default to the
second-lien notes, S&P will reassess and raise the rating to a
level commensurate with its view of its altered financial position.


STELLAR BIOTECHNOLOGIES: TSX-V Delisting Takes Effect April 8
-------------------------------------------------------------
Stellar Biotechnologies, Inc., announced that the Company's
voluntary delisting from the TSX Venture Exchange will be effective
at the close of business April 8, 2016.

Following the Effective Date, all of Stellar's common shares will
continue to be listed and to trade on The Nasdaq Capital Market
under the Company's symbol "SBOT."

                         About Stellar

Port Hueneme, Cal.-based Stellar Biotechnologies, Inc.'s
business is to commercially produce and market Keyhole Limpet
Hemocyanin ("KLH") as well as to develop new technology related to
culture and production of KLH and subunit KLH ("suKLH")
formulations.  The Company markets KLH and suKLH formulations to
customers in the United States and Europe.

KLH is used extensively as a carrier protein in the production of
antibodies for research, biotechnology and therapeutic
applications.

Stellar Biotechnologies reported a net loss of $8.43 million for
the year ended Aug. 31, 2014, a net loss of $14.5 million for the
year ended Aug. 31, 2013, and a net loss of $5.52 million for the
year ended Aug. 31, 2012.  Stellar Biotechnologies reported a net
loss of $2.84 million on $758,689 of revenues for the year ended
Sept. 30, 2015.

As of Dec. 31, 2015, the Company had $10.35 million in total
assets, $723,675 in total liabilities and $9.63 million in total
shareholders' equity.


STEWARD HEALTH: Moody's Raises CFR to B2, Outlook Stable
--------------------------------------------------------
Moody's Investors Service upgraded Steward Health Care System LLC's
Corporate Family Rating to B2 from B3 and Probability of Default
Rating to B2-PD from B3-PD.  Moody's also affirmed the B2 rating on
the company's senior secured term loan.  The rating outlook is
stable.

The upgrade of Steward's Corporate Family Rating reflects Moody's
acknowledgment that the change in the company's pension plans has
resulted in a considerable decline in the company's financial
obligations and adjusted leverage.  Moody's anticipates that the
company will also continue to see improvements in operating results
from previous restructuring efforts, including cost cutting and the
closure of the Quincy facility.  The rating agency also expects
Steward to have lower capital spending and a reduction in cash
pension plan contributions in the years ahead. These improvements
will enhance liquidity through increased free cash flow and provide
the capacity to repay debt.

The affirmation of the senior secured rating at B2 reflects the
fact that the term loan now represents the preponderance of debt in
the company's capital structure.  Therefore, the rating on the
company's term loan is now the same as Steward's Corporate Family
Rating.  This follows the restructuring and elimination of the
company's defined benefit pension obligation in December 2015.  The
obligation had been modeled as an unsecured debt claim in Moody's
assessment of loss given default.

Following is a summary of Moody's rating actions on Steward Health
Care System LLC.

Ratings upgraded:

  Corporate Family Rating to B2 from B3
  Probability of Default Rating to B2-PD from B3-PD
  Ratings affirmed/LGD assessments revised:
  Senior secured term loan to B2 (LGD 4) from B2 (LGD 3)

The rating outlook is stable

                         RATINGS RATIONALE

Steward's B2 Corporate Family Rating reflects Moody's expectation
that the company will continue to operate with a moderately high
level of funded debt.  The rating also reflects Moody's view of the
limitations of Steward's liquidity position, including modest free
cash flow and significant reliance on its asset based revolver. The
company's operations also remain concentrated in one very
competitive market in eastern Massachusetts.  However, the rating
also reflects the benefit of the significant presence Steward has
in its market and the potential for improvement in credit metrics
following significant restructuring efforts.

The stable rating outlook reflects Moody's expectation that
leverage will decline modestly in the near term through
improvements in EBITDA.  Further, Moody's expects that growth in
free cash flow from lower capital spending and a pension
contributions will strengthen the company's liquidity.

The ratings could be upgraded if Steward can significantly increase
its scale and diversification.  Further, the company must achieve
and sustain positive free cash flow and decrease its reliance on
the revolving credit facility.  In addition, debt to EBITDA will
have to be sustained below 4.0 times for a ratings upgrade.

The ratings could be downgraded if liquidity weakens either through
Steward's inability to generate positive free cash flow or
additional limits on availability under the company's revolver.
Increased uncertainty around the ability to comply with financial
covenant requirements could also result in a rating downgrade.
Finally, the ratings could be downgraded if debt to EBITDA is
expected to be sustained above 5.5 times.

Headquartered in Boston, MA, Steward Health Care System LLC is a
fully integrated community care organization and community hospital
network in Massachusetts.  As of Sept. 30, 2015, the system's
subsidiaries and affiliates owned and operated nine hospitals.  For
the twelve months ended September 30, 2015, Steward recognized
approximately $2.2 billion of revenue.  Steward is a controlled
affiliate of Cerberus Capital Management, L.P.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.



SUNDEVIL POWER: Hires Drinker Biddle as Counsel
-----------------------------------------------
Sundevil Power Holdings, LLC, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Drinker
Biddle & Reath LLP as counsel to the Debtors, nunc pro tunc to
February 11, 2016.

Sundevil Power requires Drinker Biddle to:

   a. assist in the preparation of the Debtors' schedules of
      assets and liabilities and related statements;

   b. advise the Debtors with respect to their powers and duties
      as debtors-in-possession;

   c. prepare necessary motions, applications, answers, proposed
      orders, reports, and other papers to be filed by the
      Debtors in order to prosecute the Bankruptcy Cases;

   d. appear before the Court to advocate the interests of the
      Debtors and their estates;

   e. negotiate with the Debtors' creditors and taking the
      necessary legal steps to formulate, confirm and consummate
      a plan of reorganization if feasible;

   f. prosecute and defend any adversary proceedings commenced in
      the Bankruptcy Cases; and

   g. assist in the performance of all other necessary and proper
      legal services for the Debtors' to prosecute their
      Bankruptcy Cases effectively.

Sundevil Power will pay Drinker Biddle at these hourly rate:

     Attorneys               $390-$910
     Paraprofessionals       $205-$340

Drinker Biddle will also be reimbursed for reasonable out-of-pocket
expenses incurred.

The following are provided in response to the request for
additional information set forth in the Appendix B-Guidelines for
Reviewing Applications for Compensation and Reimbursement of
Expenses Filed under 11 U.S.C. Sec. 330 for Attorneys in Larger
Chapter 11 Cases:

   -- Drinker Biddle's current hourly rates for services rendered
      on behalf of the Debtors range as follows:

         Billing Category          U.S. Range

           Partners                  $580-$910
           Associates                $390-$500
           Paraprofessionals         $205-$340

Drinker Biddle represented the Debtors during the twelve-month
period before the petition date, using the hourly rates listed
above. Drinker Biddle's rates for postpetition work have not
changed.

Steven K. Kortanek, partner of Drinker Biddle & Reath LLP, 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.

Drinker Biddle can be reached at:

     Steven K. Kortanek, Esq.
     DRINKER BIDDLE & REATH LLP
     222 Delaware Avenue, Suite 1400
     Wilmington, DE 19801
     Tel: (302) 467-4200
     Fax: (302) 467-4201
     E-mail: Steven.Kortanek@dbr.com

                       About Sundevil Power

Merchant power generators Sundevil Power Holdings, LLC and SPH
Holdco LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case Nos. 16-10369 and 16-10370,
respectively), on Feb. 12, 2016. The petitions were signed by Blake
M. Carlson as authorized signatory.

The Debtors estimated assets in the range of $100 million to $500
million and liabilities of at least $100 million.

The Debtors have engaged Vinson & Elkins LLP as legal counsel,
Drinker Biddle & Reath LLP as Delaware counsel, and Garden City
Group as claims and noticing agent.

Judge Kevin J. Carey is assigned to the case.


SUNDEVIL POWER: Hires Garden City as Administrative Agent
---------------------------------------------------------
Sundevil Power Holdings, LLC, et al. seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Garden City
Group, LLC as administrative agent to the Debtors, nunc pro tunc to
February 11, 2016.

Sundevil Power requires Garden City to:

   (a) assist with the preparation and filing of the Debtors'
       schedules of assets and liabilities and statements of
       financial affairs;

   (b) assist with claims reconciliation, including generating
       claim objection exhibits and cure notices;

   (c) manage the publication of legal notices;

   (d) manage the solicitation and tabulation of votes on a
       chapter 11 plan including filing a declaration with the
       Court setting forth the methodology and results of the
       solicitation and tabulation and testifying, if necessary,
       in support of the declaration;

   (f) provide such other related administrative services not
       otherwise specified above as the Debtors or their
       professionals may require in connection with the Chapter
       11 Cases.

Garden City had received a retainer totaling $25,000 from the
Debtors prior to the petition date.

Sundevil Power will pay Garden City at these hourly rates:

     Title                             Standard Hourly Rates
     -----                             ---------------------
     Administrative, Mailroom and              $45-$55
     Claims Control

     Project Administrators                    $70-$85

     Project Supervisors                       $95-$110

     Graphic Support & Technology Staff        $100-$200

     Project Managers and Senior Project       $125-$175
     Managers

     Directors and Asst. Vice Presidents       $200-$295

     Vice Presidents and above                 $295

Garden City will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Angela Ferrante, senior vice president of Garden City Group, LLC,
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.

Garden City can be reached at:

     Angela Ferrante
     GARDEN CITY GROUP, LLC
     1985 Marcus Ave
     Lake Success, NY 11042
     Tel: (631) 470-1852
     E-mail: angela.ferrante@gardencitygroup.com

                      About Sundevil Power

Merchant power generators Sundevil Power Holdings, LLC and SPH
Holdco LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case Nos. 16-10369 and 16-10370,
respectively), on Feb. 12, 2016. The petitions were signed by Blake
M. Carlson as authorized signatory.

The Debtors estimated assets in the range of $100 million to $500
million and liabilities of at least $100 million.

The Debtors have engaged Vinson & Elkins LLP as legal counsel,
Drinker Biddle & Reath LLP as Delaware counsel, and Garden City
Group as claims and noticing agent.

Judge Kevin J. Carey is assigned to the case.


SUNDEVIL POWER: Hires Jefferies as Financial Advisor
----------------------------------------------------
Sundevil Power Holdings, LLC, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Jefferies
LLP as financial advisor to the Debtors, nunc pro tunc to February
11, 2016.

Sundevil Power requires Jefferies to:

   (a) provide advice and assistance to the Debtors in connection
       with a possible sale, disposition or other business
       transaction or series of transactions involving all or a
       material portion of the Debtors assets or equity
       interests;

   (b) become familiar with the financial condition and business
       of the Debtors;

   (c) provide the Debtors with financial advice and assistance
       in connection with a possible Third-Party Sale Transaction
       per Engagement Letter;

   (d) assist in identifying prospective purchasers, coordinating
       data room access for potential purchasers, and evaluating
       proposals received from the same;

   (e) familiarize with, to the extent Jefferies deems
       appropriate, and analyze, the business, operations,
       properties, financial condition and prospects of the
       Debtors;

   (f) advise the Debtors on the current state of the
       "restructuring market";

   (g) provide the Debtors with financial advice and assistance
       in connection with a possible Restructuring per Engagement
       Letter; and

   (h) render such other financial advisory services as may from
       time to time be agreed upon by the Debtors and Jefferies.

Sundevil Power will pay Jefferies as follows:

  -- Monthly Fee. A monthly fee equal to $50,000 per month until
     the expiration or termination of the Engagement Letter. The
     first Monthly Fee shall be payable one business day
     following execution of the Engagement Letter, and each
     subsequent Monthly Fee shall be payable in advance on each
     monthly anniversary thereafter. One hundred percent of any
     Monthly Fees actually paid to Jefferies shall be credited
     once against the Sale Transaction Fee or Restructuring Fee
     due to Jefferies.

  -- Sale Transaction Fee. Promptly upon closing of each Third-
     Party Sale Transaction, a fee equal to 1.0% of the
     Transaction Value, plus 5.0% of any cash distributions made
     to debtor SPH Holdco LLC's equityholders from proceeds of
     such Third-Party Sale Transaction.

  -- Restructuring Fee. In the event of a sale of assets or
     transfer of beneficial ownership of the Company to a secured
     lender, a fee equal to $1 million multiplied by the
     percentage of assets subject to such Restructuring, shall be
     payable upon the effectiveness of such Restructuring.

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

With respect to the Managed Funds, Jefferies made the following
additional disclosures:

   (a) among other things, the Managed Funds are (i) active
       direct investors in a number of portfolio companies and
       (ii) investors in a variety of debt instruments and
       mezzanine loans or similar securities and, together with
       the Equity Investments; and

   (b) the fund managers of the Managed Funds maintain control
       over investment decisions with respect to the Portfolio
       Holdings. Many financial institutions and parties in
       interest who may be involved in the chapter 11 cases may
       also be investors in the Managed Funds. Moreover, the
       Managed Funds may invest from time to time in Portfolio
       Holdings relating to the Debtor or parties in interest in
       the chapter 11 cases. In order to comply with securities
       laws and to avoid any appearance of impropriety, the
       employees of the Managed Funds are strictly separated from
       the employees of Jefferies. Jefferies maintains a strict
       separation between its employees assigned to the chapter
       11 cases and employees involved in the management of
       Jefferies' investment banking division, on the one hand,
       and other employees of Jefferies and its affiliates, on
       the other hand. This separation is maintained through the
       use of information walls. These information walls include
       physical and technological barriers, compliance, and
       surveillance mechanisms and policies and procedures
       designed to prevent confidential information concerning
       the Debtors is permitted to be communicated to any persons
       working for the Managed Funds, Jefferies does not believe
       that the relationships outlined above constitute interests
       adverse to the estates or render Jefferies not
       disinterested in the chapter 11 cases.

Jefferies has been engaged on various matters with the Debtors
since May 2015 and, as a result, is intimately familiar with the
Debtors' corporate and capital structure, management, operations
and various other aspects of their business.  Jefferies also
advised the Debtors prior to the Petition Date regarding various
restructuring alternatives, and worked with the Debtors to market
their assets for sale to a third-party purchaser.  During the 90
days prior to the Petition Date, Jefferies received from the
Debtors, in the ordinary course, a total of $0 in Monthly Fees
under the Engagement Letter and reimbursement of out-of-pocket
expenses in the amount of $41,468.43.  The Debtors do not owe
Jefferies any amount for services performed or expenses incurred
prior to the Petition Date.

Richard Morgner, managing director and joint global head of
restructuring and recapitalization at Jefferies 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.

Jefferies can be reached at:

     Richard Morgner
     JEFFERIES LLP
     520 Madison Avenue
     New York, NY 10022
     Tel: (212) 284-2300

                      About Sundevil Power

Merchant power generators Sundevil Power Holdings, LLC and SPH
Holdco LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case Nos. 16-10369 and 16-10370,
respectively), on Feb. 12, 2016. The petitions were signed by Blake
M. Carlson as authorized signatory.

The Debtors estimated assets in the range of $100 million to $500
million and liabilities of at least $100 million.

The Debtors have engaged Vinson & Elkins LLP as legal counsel,
Drinker Biddle & Reath LLP as Delaware counsel, and Garden City
Group as claims and noticing agent.

Judge Kevin J. Carey is assigned to the case.


SUNVALLEY SOLAR: Needs More Time to File 10-K
---------------------------------------------
Sunvalley Solar, Inc., filed with the U.S. Securities and Exchange

Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended
Dec. 31, 2015.  According to the Company, it was unable to compile
the necessary financial information required to prepare a complete
filing.  Thus, the Company was unable to file the periodic report
in a timely manner without unreasonable effort or expense.  The
Company expects to file within the extension period.

                        About Sunvalley Solar

Sunvalley Solar, Inc., is a California-based solar power
technology and system integration company.  Since the inception of
its business in 2007, the company has focused on developing its
expertise and proprietary technology to install residential,
commercial and governmental solar power systems.

Sunvalley Solar reported a net loss of $1.28 million on $3.31
million of revenues for the year ended Dec. 31, 2014, compared with
net income of $764,000 on $4.09 million of revenues for the year
ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $6.10 million in total
assets, $5.83 million in total liabilities and $271,209 in total
stockholders' equity.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has an accumulated deficit of $3.65 million, which raises
substantial doubt about its ability to continue as a going concern.


TELEFLEX INC: S&P Raises CCR to 'BB+', Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Teleflex Inc. to 'BB+' from 'BB'.  The rating
outlook is stable.  

At the same time, S&P raised its rating on the senior secured debt
to 'BBB' from 'BBB-' and raised its rating on the senior unsecured
debt to 'BB+' from 'BB'.  S&P also raised its subordinated debt
rating to 'BB-' from 'B+'.

S&P's recovery rating of '1' on the secured debt is unchanged.  S&P
revised the recovery rating on the unsecured debt to '4' from '3'.
The '4' recovery rating reflects S&P's expectations for average
recovery if a default occurs, at the high end of the 30% to 50%
range.  The recovery rating on the subordinated debt remains '6'.

"The rating action follows seven quarters of leverage that has
remained below 3x and our confidence that Teleflex can fund its
growth objectives within this leverage level," said Standard &
Poor's credit analyst Lucas Taylor.

S&P believes Teleflex has $325 million of debt capacity.
Furthermore, S&P sees no material impact from the recent product
recall.  The core business of Teleflex has shown stability, even
with foreign exchange headwinds, and management has been able to
grow revenues on a constant currency basis while reducing leverage.
They have won 23 new group purchasing organizations/integrated
delivery networks (GPO/IDN) contracts and extended another 31 more,
with 22 awards coming in the fourth quarter of fiscal 2015.
Although the company has announced a worldwide recall of ARROW
International Intra-aortic Balloon Catheter Kits and Percutaneous
Insertion Kits, the recall and any expenses associated with it were
immaterial in fourth-quarter 2015 with no financial impact
anticipated for 2016.

The stable outlook reflects S&P's expectation that the company can
sustain its recent improvements in credit-protection measures and
that leverage levels will fluctuate between 2x and 3x, while
pursuing moderate acquisitions costing between $75 million and $350
million.  S&P calculates the company could absorb a larger
acquisition, up to about $325 million, without hurting the rating.


TELKONET INC: Hires Canaccord Genuity as Financial Advisor
----------------------------------------------------------
Telkonet, Inc., announced it has retained Canaccord Genuity as its
financial advisor to assist management and the Board of Directors
in the evaluation and review of potential strategic and capital
raising opportunities aimed at enhancing shareholder value, as well
as to advise the Company with respect to certain transactions that
may ultimately be pursued as a result of such review.  

Jason Tienor, CEO of Telkonet, stated, "We are excited about this
new relationship with Canaccord.  Canaccord knows our industry,
which makes them a great choice to help the Company evaluate
strategic opportunities."

The Company notes that no decision has been made to pursue any
transaction and that there can be no assurance that the review
process will result in the completion of any particular course of
action or transaction.  The Company has not set a timetable for
completion of the review process, and it 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.

                          About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

Telkonet reported a net loss attributable to common stockholders of
$207,357 on $15.08 million of total net revenues for the year ended
Dec. 31, 2015, compared to a net loss attributable to common
stockholders of $95,403 on $14.79 million of total net revenues for
the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Telkonet had $10.97 million in total assets,
$5.08 million in total liabilities and $5.89 million in total
stockholders' equity.


TELKONET INC: Incurs $207,000 Net Loss in 2015
----------------------------------------------
Telkonet, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss attributable
to common stockholders of $207,357 on $15.08 million of total net
revenues for the year ended Dec. 31, 2015, compared to a net loss
attributable to common stockholders of $95,403 on $14.79 million of
total net revenues for the year ended Dec. 31, 2014.

"Telkonet's gross profit increased 15 percent on moderate revenue
growth demonstrating healthy core financials that will allow the
company to achieve maximum returns as we accelerate sales," said
Jason Tienor, Telkonet CEO.  "And we've continued to expand our
innovative Internet-of-Things platform and robust sales channel
surrounding EcoSmart, our highest margin business line posting 23%
year over year growth and positioning the business to take
advantage of the rapidly growing IoT industry."

As of Dec. 31, 2015, Telkonet had $10.97 million in total assets,
$5.08 million in total liabilities and $5.89 million in total
stockholders' equity.

The Company said it is subject to legal proceedings and claims
which arise in the ordinary course of its business.  Although
occasional adverse decisions or settlements may occur, the Company
believes that the final disposition of such matters should not have
a material adverse effect on its financial position, results of
operations or liquidity.

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

                       http://is.gd/g1iOht

                          About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.


TERRAFORM GLOBAL: S&P Affirms 'B-' ICR, Outlook Remains Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B-' issuer
credit rating on TerraForm Global Inc.  The outlook remains stable.
The issue ratings on the company's senior unsecured notes are also
affirmed at 'B-'.  The '3' recovery rating is unchanged, indicating
S&P's expectation for meaningful recovery (50%-70%; upper half of
the range) of principal if a payment default occurs. The
stand-alone credit profile (SACP) remains unchanged at 'b+'. In
addition, S&P affirmed the 'B+' senior secured rating.  The
recovery rating on the revolver is '1', indicating very high
(90%-100%) recovery if a payment default occurs.  TerraForm Global
Operating LLC is the issuer of the debt.

The application of the new project developer criteria, in this
case, is based on S&P's assessment that TerraForm Global meets four
key requirements:

   -- It operates in the energy industry,

   -- Receives less than 50% of its revenue from a single project
      and owns more than three projects,

   -- It owns majority or minority stakes in each project, and

   -- S&P does not expect any one project to receive undue
      parent support.

TerraForm Global was formed to own and operate clean energy assets,
largely from parent SunEdison Inc.'s portfolio.  As of Dec. 31,
2015,it operates about 800 megawatts of capacity in several
countries, including China, Brazil, India, and South Africa.

The 'b+' SACP on TerraForm Global stems from a quality of
distributions (QD) score of '4', medium asset diversity, and an
aggressive financial risk profile.  S&P also applies a negative
comparable ratings analysis adjustor to reflect the the company's
aggressive growth–by-acquisition strategy and the associated
integration risk that accompanies it.

Per S&P's group ratings methodology, it generally do not lower the
ratings of insulated subsidiaries, like TerraForm Global, below
'B-' unless S&P believes that the subsidiary would likely be drawn
into a parent company insolvency.  The outlook on TerraForm Global
is stable because its stand-alone credit profile (SACP) of 'b+' is
above its corporate credit rating of 'B-'.


TERRAFORM POWER: S&P Affirms 'B-' ICR, Outlook Remains Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B-' issuer
credit rating on TerraForm Power Inc. (TERP).  The outlook remains
negative.  The issue ratings on the company's senior unsecured
notes are also affirmed at 'B-'.  The recovery rating of '4' is
unchanged, and reflects S&P's expectation for average (30%-50%;
upper half of the range) recovery if a payment default occurs.  
The stand-alone credit profile (SACP) is also 'b-'.

The application of the new project developer criteria, in this
case, is based on S&P's assessment that TERP meets four key
requirements:

   -- It operates in the energy industry,

   -- Receives less than 50% of its revenue from a single project
      and owns more than three projects,

   -- It owns majority or minority stakes in each project, and

   -- S&P does not expect any one project to receive undue
      parent support.

TERP was formed to own and operate renewable power generation
projects, notably solar and wind, in the U.S., U.K., Canada, and
Chile.  With its upcoming transactions, it will eclipse 3 gigawatts
of total generating capacity spread across more than 40 projects.

The 'B-' issuer credit rating and 'b-' SACP stems from a quality of
distributions (QD) assessment of '4', medium asset diversity, and a
highly leveraged financial risk profile.

"We also apply a negative comparable ratings analysis adjustor to
reflect the company's highly aggressive growth strategies," said
Standard & Poor's credit analyst Michael Ferguson.

The negative outlook reflects S&P's view that challenging market
conditions, coupled with meaningful purchase commitments over the
next few months, could limit the company's financial flexibility
and lead to debt to EBITDA above 6x for an extended period.


TEXARKANA HOTELS: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Texarkana Hotels, LLC
        2910 Harrisburg Lane
        Texarkana, TX 75503

Case No.: 16-50056

Chapter 11 Petition Date: March 31, 2016

Court: United States Bankruptcy Court
       Eastern District of Texas (Texarkana)

Debtor's Counsel: Bill F. Payne, Esq.
                  THE MOORE LAW FIRM, L.L.P.
                  100 North Main Street
                  Paris, TX 75460-4222
                  Tel: (903) 784-4393 ext. 40
                  E-mail: lgarner@moorefirm.com
                          bpayne@moorefirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Hiren Patel, managing member.

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


TONGJI HEALTHCARE: Delays Filing of 2015 Form 10-K
--------------------------------------------------
Tongji Heahtcare Group, Inc. filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended Dec.
31, 2015.  According to the Company, it has encountered a delay in
assembling the information, in particular its financial statements
for the year ended Dec. 31, 2015, required to be included in its
Annual Report.

The Company expects to file its Dec. 31, 2015, Form 10-K Annual
Report with the SEC within 15 calendar days of the prescribed due
date.

                       About Tongji Healthcare

Based in Nanning, Guangxi, the People's Republic of China, Tongji
Healthcare Group, Inc., a Nevada corporation, operates Nanning
Tongji Hospital, a general hospital with 105 licensed beds.

Tongji Healthcare reported a net loss of $462,000 on $2.52 million
of total operating revenues for the year ended Dec. 31, 2014,
compared with a net loss of $730,000 on $2.37 million of total
operating revenues for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $16.8 million in total
assets, $19.4 million in total liabilities and a $2.60 million
total stockholders' deficit.


TRANS COASTAL: Seeks July 20 Extension for Chapter 11 Plan Filing
-----------------------------------------------------------------
Trans Coastal Supply Company, Inc., asks the U.S. Bankruptcy Court
for the Central District of Illinois to extend its exclusivity
period for filing a Chapter 11 Plan and Disclosure Statement to
July 20, 2016.

The Debtor contends that it is in the process of negotiating with
its creditors as to key aspects of its future plans to continue in
business and concerning its treatment of the creditors.

The Debtor's motion is scheduled for hearing on April 12, 2016 at
9:30 a.m.

Trans Coastal Supply Company, Inc., is represented by:

          Jeffrey D. Richardson, Esq.
          132 South Water Street, Suite 444
          Decatur, IL 62523
          Telephone: (217)425-4082

                    About Trans Coastal Supply

Headquartered in Decatur, Illinois, Trans Coastal Supply Company
Inc. ships grain and other agricultural products like the ethanol
byproduct distillers dried grains (DDGS) in containers to overseas
buyers.

Trans Coastal filed for Chapter 11 bankruptcy protection (Bankr.
C.D. Ill. Case No. 15-71147) on July 23, 2015.  Judge Mary P.
Gorman presides over the Debtor's case.  Jeffrey D. Richardson,
Esq., at Richardson & Erickson, represents the Debtor.

The Debtor estimated both assets and liabilities between
$10 million and $50 million.


TRANS-LUX CORP: Reports Significantly Improved 2015 Results
-----------------------------------------------------------
Trans-Lux Corporation reported significantly improved financial
results for both the fourth quarter and the year ended Dec. 31,
2015.  Trans-Lux president and chief executive officer J.M. Allain
made the announcement while also stating that both the fourth
quarter and the year had positive EBITDA.

For the three months ended Dec. 31, 2015, Trans-Lux reported a net
loss of $659,000 on $5 million of revenues compared to a net loss
of $1.55 million on $5.87 million of revenues for the same period
in 2014.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $1.74 million on $23.56 million of revenues compared to a net
loss of $4.62 million on $24.35 million of revenues for the year
ended Dec. 31, 2014.

The Company had positive EBITDA of $1.0 million for the year ended
Dec. 31, 2015, compared with negative EBITDA of $1.4 million for
2014.  Despite slightly lower revenues, both gross profit and gross
margin were higher in 2015.  Lower selling, general and
administrative expenses also contributed to the improved operating
results.  

The Company's audited consolidated financial statements for the
fiscal year ended Dec. 31, 2015, were included in the Company's
Annual Report on Form 10-K, which was filed with the Securities and
Exchange Commission March 29, 2016.

"The Company had a number of successes in 2015 including improving
gross margins, lowering operating expenses and raising $3.3 million
in equity capital with a rights offering in November," said Mr.
Allain.  "As we begin to move into 2016, our focus will now shift
to increasing revenues by expanding our product line, promoting our
brand and establishing new channel partners."

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

                       http://is.gd/yh2AIj

                    About Trans-Lux Corporation

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.

Trans-Lux Corporation reported a net loss of $1.74 million on
$23.56 million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss of $4.62 million on $24.35 million of total
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Trans-Lux had $12.99 million in total assets,
$13.14 million in total liabilities and a $156,000 total
stockholders' deficit.

Marcum LLP, in Hartford, CT, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, noting that the Company has suffered recurring losses
from operations and has a significant working capital deficiency
that raise substantial doubt about its ability to continue as a
going concern.  Further, the Company is in default of the indenture
agreements governing its outstanding 9 1/2% subordinated debentures
which were due in 2012 and its 8 1/4% limited convertible senior
subordinated notes which were due in 2012 so that the trustees or
holders of 25% of the outstanding Debentures and Notes have the
right to demand payment immediately.  Additionally, the Company has
a significant amount due to their pension plan over the next 12
months.


TRANSGENOMIC INC: Delays Filing of 2015 Annual Report
-----------------------------------------------------
Transgenomic, Inc., filed with the Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the fiscal year ended
Dec. 31, 2015.  

The Company has determined that it is unable to file the Form 10-K
within the prescribed time period because the Company requires
additional time for compilation and review to ensure adequate
disclosure of certain information required to be included in the
Form 10-K.  The Company said the Form 10-K will be filed as soon as
possible following the prescribed due date.  

                       About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global
biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

Transgenomic reported a net loss available to common stockholders
of $15.1 million in 2014, a net loss available to common
stockholders of $16.7 million in 2013 and a net loss available to
common stockholders of $8.98 million in 2012.

As of Sept. 30, 2015, the Company had $24.5 million in total
assets, $17.7 million in total liabilities and $6.71 million in
total stockholders' equity.

Ernst & Young LLP, in Hartford, Connecticut, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has recurring
losses from operations that raise substantial doubt about its
ability to continue as a going concern.


TRICORBRAUN INC: S&P Affirms 'B' LongTerm CCR, Outlook Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings on TricorBraun Inc., including its 'B' long-term corporate
credit rating.  The outlook is stable.

In addition, S&P affirmed its 'B+' issue-level ratings on the
existing secured credit facilities and kept S&P's '2' recovery
ratings (70%-90%; lower end of the range) unchanged

"The affirmation reflects our view that the company's pro forma
adjusted debt to EBITDA will remain below the 8x threshold that we
deem appropriate for the existing ratings, while the company's
liquidity will remain adequate," said Standard & Poor's credit
analyst James Siahaan.

While the purchase price of the transaction and associated fees
requires the company to upsize its term loan by $25 million, borrow
on its currently undrawn revolver, and use existing cash balances,
S&P estimates that the company's pro forma adjusted debt to EBITDA
(including the value of the PIK [payment-in-kind]-preferred) of 7x
as of Dec. 31, 2015 will remain fairly steady over the next year.

The outlook is stable.  Although S&P expects TricorBraun to remain
highly leveraged, the company's defensible position as a leading
packaging distributor as well as its demonstrated ability to
generate solid free cash flow supports the ratings.  If the company
were to complete any midsize acquisitions, then S&P would expect
the integration to proceed smoothly.



TRISTREAM EAST: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Tristream East Texas, LLC
        Coats Rose, P.C.
        c/o Frank J. Wright
        14755 Preston Road, Suite 600
        Dallas, TX 75254

Case No.: 16-31521

Type of Business: Midstream operating company that provides gas
                  gathering and processing services to producers
                  from facilities in east Texas

Chapter 11 Petition Date: March 30, 2016

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. David R Jones

Debtor's Counsel: Frank J Wright, Esq.
                  COATS ROSE, P.C.
                  14755 Preston Rd, Ste 600
                  Dallas, TX 75254
                  Tel: 972-788-1600
                  Fax: 972-239-0138
                  Email: bankruptcy@coatsrose.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Reid Smith, CEO.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Eagle Rock Acquisition Partnership     Trade            $185,448

Thermo Control, Inc.                   Trade             $61,438

EMS USA, Inc.                          Trade             $41,005

Hy-Tech Insulation, Inc.               Trade             $40,893

Targa Resources Partners LP            Trade             $40,848

Utility Rebate Consultants, Inv        Trade             $31,276

Sabre Operating Inc.                   Trade             $24,040

In2Tex 3 LP                            Trade             $17,832

Louisiana Valve Source, Inc.           Trade             $17,368

Noblett Electric Motor Service         Trade             $15,489

NALCO Champion                         Trade             $13,865

Western Marketing Inc.                 Trade             $12,607

Basic Energy Services, LP              Trade             $11,483

Nordon Corporation                     Trade             $11,000

SAMCO Enterprises, Inc.                Trade              $9,501

Johnny Ray Clements                    Trade              $8,424

DPC Industries Inc.                    Trade              $7,991

John Crane Inc.                        Trade              $7,194

Diversified Projects, Inc.             Trade              $6,725

UNIVAR USA Inc.                        Trade              $6,539


TUCSON COUNTY SCHOOL: S&P Alters Outlook on BB Rating to Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its long-term rating of 'BB-' on Pima
County Industrial Development Authority, Ariz.'s series 2007
educational revenue refunding bonds, issued for Tucson County Day
School, a K-8 charter school.

"The stable outlook reflects our view of the school's significant
increase in enrollment after several years of softening, long
operating history, well-tenured management team, and reasonable
MADs burden," said Standard & Poor's credit analyst Ashley
Ramchandani.

It is S&P's opinion that the 'BB-' rating reflects the school's
variable operating performance with margins ranging from negative
7% to positive 7% in the past three fiscal years, which has
resulted in varying MADs coverage, and weak liquidity position with
less than 30 days' cash on hand for the past two fiscal years.

A loan agreement between the authority and the Tucson Country Day
School secures the bonds, which are payable from any available
revenue of the.  Under the loan agreement, the school transferred
its 10-acre site and facilities to the authority and leased back
those facilities for school operations.  The school has directed
state per-pupil payments to be made directly to the trustee for
debt service payments.

Tucson Country Day School is located in the northeastern suburbs of
Tucson and opened in 1968 as a private school.


UNI-PIXEL INC: Incurs $37 Million Net Loss in 2015
--------------------------------------------------
Uni-Pixel, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $37.02
million on $3.75 million of revenue for the year ended Dec. 31,
2015, compared to a net loss of $25.7 million on $0 of revenue for
the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $26.5 million in total assets,
$7.46 million in total liabilities and $19.08 million in total
shareholders' equity.

"We have historically financed our operations primarily through the
issuance of equity and debt securities and by relying on other
commercial financing.  Until revenue begins to increase on our
products to support our operations we will continue to be highly
dependent on financing from third parties.  In April 2015, we sold
$15.0 million of Convertible Notes and sold an additional $0.5
million of Convertible Notes in November 2015. On November 30, 2015
we sold 9,625,871 shares of our common stock, raising net proceeds
of approximately $7.2 million.  Barring unanticipated expenses, we
expect the proceeds from this offering, together with our cash on
hand and collaborative agreements with corporate partners, to
support our operations through March 31, 2017."

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

                     http://is.gd/WbDgF1

                     About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company       

delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.


UNITED BANCSHARES: Delays Filing of 2015 Form 10-K
--------------------------------------------------
United Bancshares, Inc. filed with the U.S. Securities and Exchange

Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended Dec.
31, 2015, saying that it was unable to file the subject Form 10-K
in a timely manner because the Company is still in the process of
completing its financial statements.

                      About United Bancshares

Located in Philadelphia, Pennsylvania, United Bancshares, Inc., is
an African American controlled and managed bank holding company
for United Bank of Philadelphia, a commercial bank chartered in
1992 by the Commonwealth of Pennsylvania, Department of Banking.

United Bancshares reported a net loss of $343,000 on $2.90 million
of total interest income for the year ended Dec. 31, 2014, compared
with a net loss of $669,000 on $2.90 million of total interest
income for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $59.14 million in total
assets, $56.23 million in total liabilities and $2.91 million in
total shareholders' equity.

McGladrey LLP, in Blue Bell, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, noting that the Company's regulatory capital
amounts and ratios are below the required levels stipulated with
Consent Orders between the Company and its regulators under the
regulatory framework for prompt corrective action.  Failure to meet
the capital requirements exposes the Company to regulatory
sanctions that may include restrictions on operations and growth,
mandatory asset disposition, and seizure of the Company.  These
matters raise substantial doubt about the ability of the Company to
continue as a going concern.


VERITEQ CORP: Needs More Time to File 2015 Form 10-K
----------------------------------------------------
VeriTeQ Corporation was unable to file its annual report on Form
10-K for the year ended Dec. 31, 2015, within the prescribed time
as the Company requires additional time to determine the proper
accounting for certain financing transactions that occurred during
the year, and to complete the audit of its financial statements.
These transactions are highly complex and require extensive review
and analysis.

The Company expects to report revenue of approximately $287,000 for
2015.  Net loss is expected to be approximately $16.3 million for
the year ended Dec. 31, 2015, compared to $3.9 million for the year
ended Dec. 31, 2014.  The net loss in 2015 is expected to include
stock-based compensation expense of approximately $6.9 million and
net losses on the change in fair values of certain derivative and
other fair valued instruments in the amount of approximately $6.8
million and non-cash interest expense in the amount of $1.7
million.  The net loss in 2014 included non-cash interest expense
of approximately $2.4 million and net gains on the change in fair
values of derivative and other fair valued instruments in the
amount of $6.3 million.

                       About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ --
http://www.veriteqcorp.com/-- offers the world's first FDA        

cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.

Veriteq reported a net loss of $3.91 million on $151,000 of sales
for the year ended Dec. 31, 2014, compared to a net loss of $18.2
million on $18,000 of sales for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $1.08 million in total
assets, $18.56 million in total liabilities, $1.84 million in
series D preferred stock, and a $19.33 million total stockholders'
deficit.

EisnerAmper LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2014, citing that the Company has incurred
recurring net losses, and at Dec. 31, 2014, had negative working
capital and a stockholders' deficit.  These events and conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


VERIZON COMMUNICATIONS: Subsidiary Debt Ratings Raised, S&P Says
----------------------------------------------------------------
Standard & Poor's Ratings Services took these rating actions on
debt at subsidiaries of New York City-based Verizon Communications
Inc. that will be assumed by Frontier Communications Corp.:

   -- S&P lowered the issue-level rating on Verizon Florida Inc.'s

      $300 million of 6.86% senior notes due 2028 and Verizon
      California Inc.'s $200 million of 6.75% senior notes due
      2027 to 'BB+' from 'BBB+' and assigned a '1' recovery rating

      to this debt, which indicates S&P's expectation for very
      high (90%-100%) recovery in the event of payment default.

   -- S&P lowered the issue-level rating on GTE Southwest Inc.'s
      $100 million of 8.4% senior first mortgage bonds due 2031 to

      'BB+' from 'A' and assigned a '1' recovery rating to this
      issue as well.

S&P removed all ratings from CreditWatch, where it had placed them
with negative implications on Feb. 13, 2015, following the
completion of the acquisition by Norwalk, Conn.-based Frontier
Communications of certain properties in California, Texas, and
Florida from Verizon in a transaction valued at about $10.5
billion.  The ratings on these debt issues are two notches above
the 'BB-' corporate credit rating on Frontier.

At the same time, S&P raised the issue-level rating on Frontier
West Virginia's 8.4% debentures due 2029 to 'BB+' from 'BB-' and
revised the recovery rating to '1' from '3'.

The assumed and existing subsidiary note issuances are structurally
senior to the debt at the parent level and these subsidiaries do
not guarantee the debt at the parent.  Guarantors for the senior
secured facilities at Frontier consist solely of a pledge of the
capital stock of Frontier North, which S&P estimates would
represent around 15% of the enterprise value in a default
scenario.

S&P estimates that the assets that are being transferred to
Frontier from Verizon will comprise about 40% of consolidated pro
forma EBITDA, excluding cost synergies.  Based on S&P's default
valuation of about $12.5 billion, S&P believes the value
attributable to the Verizon assets translates to around $5 billion
of priority value to bondholders at these entities.

While S&P generally caps recovery ratings for unsecured debt at '3'
for issuers rated 'BB-' or higher, Frontier's existing credit
facility has restrictive covenants that limits the amount of pari
passu unsecured debt at the operating subsidiaries and S&P thinks
it is highly unlikely that the company would issue new debt at
these subsidiaries that could impair recovery prospects for
existing bondholders.  As a result, S&P believes that the existing
bonds will have recovery in excess of 90% in a default scenario.
While the $100 million of GTE Southwest first mortgage bonds are
secured, S&P do not differentiate the debt ratings from those on
the other assumed and existing subsidiary bonds since S&P expects
that each would get full recovery in a default scenario.

RATINGS LIST

Verizon Communications Inc.
Corporate Credit Rating      BBB+/Stable/A-2         

Downgraded; Removed From CreditWatch; Recovery Ratings Assigned
                              To                From
Verizon Florida Inc.
Verizon California Inc.
Senior Unsecured             BB+               BBB+/Watch Neg
  Recovery Rating             1                 NR

GTE Southwest Inc.
Senior Secured               BB+               A/Watch Neg
  Recovery Rating             1                 NR

Frontier Communications Corp.
Corporate Credit Rating      BB-/Stable/--

Upgraded; Recovery Ratings Revised

Frontier West Virginia Inc.  
Senior Unsecured             BB+               BB-
  Recovery Rating             1                 3L



VERMILLION INC: Incurs $19.1 Million Net Loss in 2015
-----------------------------------------------------
Vermillion, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $19.1
million on $2.17 million of total revenue for the year ended
Dec. 31, 2015, compared to a net loss of $19.2 million on $2.52
million of total revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Vermillion had $20.96 million in total assets,
$3.41 million in total liabilities and $17.5 million in total
stockholders' equity.

"We have incurred significant net losses and negative cash flows
from operations since inception, and as a result has an accumulated
deficit of approximately $370,588,000 at December 31, 2015.  The
Company expects to incur a net loss in 2016 and the foreseeable
future.  The Company's management believes that successful
achievement of the business objectives will require additional
financing.  The Company expects to raise capital through a variety
of sources, which may include the public equity market, private
equity financing, collaborative arrangements, licensing
arrangements, and/or public or private debt.  However, additional
funding may not be available when needed or on terms acceptable to
the Company.  If the Company is unable to obtain additional
capital, it may not be able to continue sales and marketing,
research and development, or other operations on the scope or scale
of current activity and that could have a material adverse effect
on the business, results of operations and financial condition.

"There can be no assurance that the Company will achieve or sustain
profitability or positive cash flow from operations.  However,
management believes that the current working capital position as of
the date of these financial statements will be sufficient to meet
the Company's working capital needs for at least the next twelve
months.  Management expects cash from product sales to be the
Company's only material, recurring source of cash in 2016," the
Company said in the report.

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

                      http://is.gd/GMnilO

                        About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 09-11091) on March 30, 2009.  Vermillion's legal
advisor in connection with its successful reorganization efforts
wass Paul, Hastings, Janofsky & Walker LLP.  Vermillion emerged
from bankruptcy in January 2010.  The Plan called for the Company
to pay all claims in full and equity holders to retain control of
the Company.


VERSO CORP: NewPage Taps Latham & Watkins as Conflicts Counsel
--------------------------------------------------------------
Debtors NewPage Investment Company LLC and its affiliates ask the
U.S. Bankruptcy Court for the District of Delaware for permission
to employ Latham & Watkins LLP as special conflicts counsel, nunc
pro tunc to the Petition Date.

Pursuant to separate retention applications filed with the Court,
(i) the Debtors, including the NewPage Debtors, have sought to
retain O'Melveny & Myers LLP and Richards Layton & Finger, PA, as
general bankruptcy co-counsel to the Debtors; and (ii) the Verso
Debtors have sought to retain Quinn Emanuel Urquhart & Sullivan LLP
as their special conflicts counsel.

D. J. Baker, a partner at Latham with offices across the United
States, Europe, and Asia, tells the Court that the firm's
professional hourly rates are:

         Position                  Range of Hourly Rates
         --------                  ---------------------
         Partners                        $925 - $1,375
         Counsel                         $915 - $1,250
         Associates                      $395 - $1,020
         Paraprofessionals               $175 -   $795

The following professionals presently are expected to have primary
responsibility for providing services to the NewPage Debtors:

         D. J. Baker                        $1,325
         Adam S. Ravin                        $995
         Annemarie V. Reilly                  $875
         Marc Zelina                          $695

In addition, as necessary, other Latham professionals and
paraprofessionals will provide services to the NewPage Debtors.

Of amounts paid to Latham prior to the Petition Date, less amounts
applied or to be applied to prepetition fees and expenses, Latham
estimates that it continues to hold a remaining retainer of
approximately $8,955, which amount may be adjusted for any
prepetition charges not reflected in Latham's accounting system at
the time of such estimate.

To the best of the Debtors' knowledge, Latham is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached at:

         D. J. Baker, Esq.
         Adam S. Ravin, Esq.
         LATHAM & WATKINS LLP
         885 Third Avenue
         New York, NY 10022-4834
         Tel: (212) 906-1200
         Fax: (212) 751-4864
         E-mail: dj.baker@lw.com
                 adam.ravin@lw.com

                     About Verso Corporation

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.

Verso Corporation and 26 of its affiliates, including NewPage
Corporation, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10163 to 16-10189, respectively) on Jan. 26, 2016.
The petitions were signed by David Paterson, the president and
CEO.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.

The U.S. Trustee for Region 3 has appointed seven creditors of
Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VERSO CORP: Taps Paul Weiss to Handle General Corporate Matters
---------------------------------------------------------------
Verso Corporation, et al., ask the U.S. Bankruptcy Court for the
District of Delaware for permission to employ Paul, Weiss, Rifkind,
Wharton & Garrison LLP as their special corporate and transactions
counsel in connection with their debtor-in-possession and exit
financing and other general corporate matters, nunc pro tunc to the
Petition Date.

In addition, Paul Weiss, through partners and associates in its
restructuring, mergers and acquisitions, and corporate finance
practices, has worked closely with the Debtors and their
professionals on various aspects of the restructuring prior to the
Petition Date, including the Debtors' debtor-in-possession
financing and sale ofcertain assets of the Debtors.

Specifically, Gregory A. Ezring, Esq., Brad J. Finkelstein, Esq.,
Taurie M. Zeitzer, Esq., and Brian M. Janson, Esq., partners at
Paul Weiss, together with other partners, counsel, and associates
in the Corporate Department of Paul Weiss, have represented the
Debtors as their outside counsel since 2011, working closely with
and advising the Debtors in connection with a wide range of
corporate matters.

These include: (i) compliance with federal securities laws and
regulations, including, without limitation, the preparation and
filing of reports with the Securities and Exchange Commission,
press releases, and other disclosure documents; (ii) general
corporate matters, including meetings of the board and its
committees and other corporate governance matters; (iii) executive
compensation matters; (iv) federal, state, and tax matters; (v)
public and private placement of securities, bank financings, and
other financing matters; and (vi) mergers, acquisitions, and other
strategic transactions, including in connection with Verso Corp.'s
acquisition of NewPage Corporation.

Paul Weiss will, among other things:

   a) advise and assist the Debtors with respect to the Debtors'
debtor-in-possession and any other financing, including exit
financing;

   b) advise and assist the Debtors with respect to the Debtors'
general corporate issues, including, but not limited to, compliance
with federal securities law and related issues, and any other
matters that may arise in connection with prior securities filing,
as well as corporate governance, executive compensation, tax, and
financing matters, and other strategic transactions; and

   c) provide historical information about the Debtors' activities
from 2011 through the Petition Date, to the extent such information
is necessary for the completion of the Debtors' restructuring
efforts in these cases or other matters.

Jeffrey D. Saferstein, a partner in the firm of Paul Weiss with
office located at 1285 Avenue of the Americas, New York City, tells
the Court that the firm's billing rates currently range from $995
to $1,330 for partners, $945 to $970 for counsel, $425 to $900 for
staff attorneys and associates and $95 to $315 for
para-professionals. Paul Weiss generally adjusts its rates on an
annual basis in October, and Paul Weiss intends to charge the
Debtors based on any such adjustments.

Paul Weiss received approximately $4,506,301 in payment of fees and
expenses from the Debtors.  Prior to the Petition Date, Paul Weiss
held $250,000 on account, which amount is being applied to any
outstanding balances existing as of the Petition Date.

To the best of the Debtors' knowledge, Paul Weiss does not
represent or hold any interest that is adverse to the Debtors or
their estates with respect to the special counsel matters.

In a declaration submitted by Mr. Saferstein, he provided these
information consistent with the U.S. Trustee Guidelines:

   -- Paul Weiss has not agreed to a variation of its standard or
customary billing arrangements for representing the Debtors during
their chapter 11 cases.

   -- None of Paul Weiss' professionals included in this engagement
have varied their rate based on the geographic location of these
chapter 11 cases.

   -- Paul Weiss represented the Debtors since 2011 as their
general outside counsel.  Except as noted above, the billing rates
and material financial terms in connection with such representation
have not changed postpetition other than due to annual and
customary firm-wide adjustments to Paul Weiss' hourly rates in the
ordinary course of Paul Weiss' business.

   -- The Debtors and Paul Weiss expect to develop a prospective
budget and staffing plan for Paul Weiss' engagement to reasonably
comply with the U.S. Trustee's requests for information and
additional disclosures.

                     About Verso Corporation

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.

Verso Corporation and 26 of its affiliates, including NewPage
Corporation, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10163 to 16-10189, respectively) on Jan. 26, 2016.
The petitions were signed by David Paterson, the president and
CEO.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing agent.


VERSO CORP: Taps Whiteford Taylor as Delaware Conflicts Counsel
---------------------------------------------------------------
Verso Corporation, et al., ask the U.S. Bankruptcy Court for the
District of Delaware for permission to employ Whiteford, Taylor &
Preston LLC as Delaware special conflicts counsel nunc pro tunc to
Jan. 26, 2016.

WTP as its Delaware special counsel will, among things:

   a. provide legal advice regarding local rules, practices, and
procedures and provide substantive and independent legal advice
relating to the Verso Debtors' transactions with the NewPage
Debtors and related matters, bearing in mind that the Delaware
Bankruptcy Court relies on Delaware counsel such as WTP to be
involved in the bankruptcy proceeding;

   b. draft, review, and comment on drafts of documents to ensure
compliance with local rules, practices, and procedures; and

   c. draft, file, and serve of documents as requested by Quinn
Emanuel Urquhart & Sullivan LLP as their special conflicts
counsel.

Quinn Emanuel and WTP will coordinate closely to ensure that the
legal services provided to the Verso Debtors by each firm are not
duplicative.

The current hourly rates of the WTP professionals anticipated to be
primarily staffed on the matter are:

         Attorney/Status                         Hourly Rate
         ---------------                         -----------
         Christopher M. Samis, partner              $530
         L. Katherine Good, counsel                 $500
         Chantelle D. McClamb, associate            $330
         Stephanie Lisko, paralegal                 $245

To the best of the Debtors' knowledge, WTP is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

The following is provided in response to the request for additional
information set forth in Paragraph D.1. of the Revised UST
Guidelines:

   Question: Did you agree to any variations from, or alternatives
to, your standard or customary billing arrangements for this
engagement?

   Response: WTP has reduced its standard photocopy charge from
$0.10 per page to $0.05 per page.

   Question: Do any of the professionals included in this
engagement vary their rate based on the geographic location of the
bankruptcy case?

   Response: No.

   Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition.  If your billing rates and
material financial terms have changed postpetition, explain the
difference and the reasons for the difference.

   Response: WTP did not represent any of the Verso Debtors in the
12 months prepetition.

   Question: Has your client approved your prospective budget and
staffing plan, and, if so for what budget period?

   Response: Yes. For the period from January 26, 2016 through
March 26, 2016.

                     About Verso Corporation

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.

Verso Corporation and 26 of its affiliates, including NewPage
Corporation, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10163 to 16-10189, respectively) on Jan. 26, 2016.
The petitions were signed by David Paterson, the president and
CEO.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.

The U.S. Trustee for Region 3 has appointed seven creditors of
Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VICTORY ENERGY: Needs More Time to File 2015 Annual Report
----------------------------------------------------------
Victory Energy Corporation filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended Dec.
31, 2015.  

"The registrant has not finalized its audited financial statements
for the period ended December 31, 2015.  As a result, the
registrant is unable to file its Form 10-K within the prescribed
time period without unreasonable effort or expense.  The registrant
anticipates that it will file the Form 10-K within the fifteen-day
grace period provided by Exchange Act Rule 12b-25," according to
the regulatory filing.

                    About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $4.22 million in 2014
following a net loss of $2.11 million in 2013.

As of Sept. 30, 2015, the Company had $1.89 million in total
assets, $4.13 million in total liabilities, and a $2.24 million
total stockholders' deficit.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has
experienced recurring losses since its inception and has an
accumulated deficit, which raise substantial doubt regarding the
Company's ability to continue as a going concern.


VISCOUNT SYSTEMS: Delays Filing of 2015 Annual Report
-----------------------------------------------------
Viscount Systems, Inc., disclosed it was unable to file its annual
report on Form 10-K for the period ended Dec. 31, 2015, on a timely
basis because the Company requires additional time to work with its
auditors and legal counsel to prepare and finalize the Form 10-K.
The Company anticipates that it will file the Form 10-K no later
than the fifteenth calendar day following the prescribed filing
date.

                     About Viscount Systems

Burnaby, Canada-based Viscount Systems, Inc., is a manufacturer,
developer and service provider of access control security
products.

Viscount Systems reported a net loss and comprehensive loss of
C$991,000 on C$4.76 million of sales for the year ended Dec. 31,
2014, compared to a net loss and comprehensive loss of C$3.08
million on C$4.13 million of sales in 2013.

As of June 30, 2015, the Company had C$1.84 million in total
assets, C$1.74 million in total liabilities, C$16,696 in
convertible redeemable preferred stock and C$88,796 in total
stockholders' equity.

Dale Matheson Carr-Hilton Labonte LLP, in Vancouver, Canada, issued
a "going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has incurred losses in developing its business, and further
losses are anticipated in the future.  The Company requires
additional funds to meet its obligations and the costs of its
operations and there is no assurance that additional financing can
be raised when needed.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.


VISUALANT INC: Files Resale Prospectus with SEC
-----------------------------------------------
Visualant, Incorporated filed with the Securities and Exchange
Commission a preliminary prospectus on Form S-1 relating to the
resale by Discover Growth Fund of up to _____ shares of the
Company's common stock that it may issue to the selling stockholder
upon conversion of Series B Redeemable Convertible Preferred Stock
at a conversion price of $7.50 per share, subject to certain
adjustments.

The common stock covered by this prospectus may be offered for
resale from time to time by the selling stockholder in accordance
with the terms described in the section entitled "Plan of
Distribution."  The Company will not receive any of the proceeds
from the sale of the common stock by the selling stockholder.

The Company's common stock is quoted on the OTCQB Marketplace,
operated by OTC Markets Group, under the symbol "VSUL".  On
March 29, 2016, the last reported sale price for the Company's
common stock on the OTCQB Marketplace was $6.68 per share.

On June 17, 2015, the Company effected a 1-for-150 reverse stock
split of its common stock.  All warrant, option, share and per
share information in this prospectus gives retroactive effect to
the 1-for-150 split with all numbers rounded up to the nearest
whole share.

A full-text copy of the Form S-1 registration statement is
available for free at http://is.gd/4gCLO8

                    About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $2.63 million on $6.29 million of
revenue for the year ended Sept. 30, 2015, compared to a net loss
of $1.01 million on $7.98 million of revenue for the year ended
Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $2.43 million in total assets,
$9.69 million in total liabilities, all current, and a total
stockholders' deficit of $7.25 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2015, citing that Company has sustained a
net loss from operations and has an accumulated deficit since
inception.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


VYCOR MEDICAL: Incurs $2.25 Million Net Loss in 2015
----------------------------------------------------
Vycor Medical, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
available to common shareholders of $2.25 million on $1.13 million
of revenue for the year ended Dec. 31, 2015, compared to a net loss
available to common shareholders of $4.04 million on $1.25 million
of revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Vycor had $2.02 million in total assets,
$877,009 in total liabilities and $1.14 million in total
stockholders' equity.

The Company's auditors Paritz & Company, P.A., in Hackensack, New
Jersey, issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing
that:

"The ability of the Company to continue as a going concern is
dependent upon, among other things, its successful execution of its
plan of operations and ability to raise additional financing. There
is no guarantee that the Company will be able to raise additional
capital or sell any of its products or services at a profit.  As
discussed in note 2 to the financial statements, the Company has
incurred a net loss since inception, including a net loss of
$2,082,643 for the year ended December 31, 2015 and the Company
expect to continue to incur additional losses in the future,
including additional development cost, cost related to marketing
and manufacturing expenses.  The Company has incurred negative cash
flows from operations since inception.  As of December 31, 2015,
the Company has stockholders' equity of $1,145,722 and cash and
cash equivalents of $347,477.  The Company believes it would not
have enough cash to meet its needs unless the Company is able to
obtain additional cash from the issuance of debt or equity
securities.  These factors, among others, raise substantial doubt
regarding the Company’s ability to continue as a going concern.
The accompanying financial statements do not include any
adjustments that might result from the outcome of this
uncertainty."

                     Management Commentary

"We have been encouraged by the progress of NovaVision's
Internet-delivered therapies in the U.S. and the early positive
reception in Europe," said Peter Zachariou, CEO of Vycor Medical.
"With the company's limited resources we are focused initially on
direct-to-patient website and social media marketing, before
implementing the other marketing strategies.  It takes an average
of 10 weeks from contact to signing up a patient so the benefits of
the new model take time to build.

"Vycor's flat sales were a reflection of weak US sales in July and
August which recovered in September and this recovery has continued
into 2016.  We have now launched our new VBASMini and have added 17
new sales reps in the US since Q3 2015 so are optimistic for the
division.

"We have continued to reduce our operating loss before depreciation
and amortization (or "Cash Burn"), which on a non-GAAP basis for
the fourth quarter was $256,000 as compared to $459,000 for the
fourth quarter of 2014, a reduction of 44%, and are focused on
increasing revenues while maintaining our low costs, with the
objective of continuing to decrease our Cash Burn."

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

                        http://is.gd/7ohMtu

                         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.


ZAYO GROUP: Moody's Raises Rating on Sr. Unsecured Notes to B3
--------------------------------------------------------------
Moody's Investors Service has upgraded the ratings for Zayo Group
LLC's senior unsecured notes to B3 (LGD5) from Caa1 (LGD5) based on
the expected change in capital structure following the company's
incremental debt raise.  Zayo will raise $550 million of new
unsecured debt and use the proceeds to repay $326 million of
unsecured 10.125% notes and approximately $200 million of senior
secured term loan debt.  The reduction in senior secured debt will
improve the expected recovery of the unsecured debt class such that
it warrants an upgrade to B3.  All of Zayo's other ratings,
including the B2 corporate family rating (CFR), B2-PD probability
of default rating, SGL-1 speculative grade liquidity rating, and
Ba2 (LGD2) senior secured debt rating are affirmed.  The outlook
remains positive.

Issuer: Zayo Group, LLC

Affirmations:
  Probability of Default Rating, Affirmed B2-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-1
  Corporate Family Rating, Affirmed B2
  Senior Secured Bank Credit Facility, Affirmed Ba2 (LGD2)

Upgrades:
  Senior Unsecured Regular Bond/Debenture, Upgraded to B3 (LGD5)
   from Caa1 (LGD5)

Outlook Actions:
  Outlook, Remains Positive

                         RATINGS RATIONALE

Zayo's B2 corporate family rating reflects its strong revenue
growth, stable base of contracted recurring revenues, valuable
fiber optic network assets and expectations of Moody's adjusted
leverage declining below 12/31/15 levels of about 5.5x.  Zayo is
well positioned for continued growth from strong bandwidth demand
from both carrier and enterprise customers.  Although Zayo's
aggressive M&A stance is generally credit negative, management has
demonstrated its ability to execute a high quantity of both small
and large acquisitions and achieve (or exceed) projected merger
benefits, and management's skill in navigating these transactions
does offset a meaningful amount of this risk.  Zayo's business
model requires heavy capital investment and is susceptible to
customer churn, both of which pressure free cash flow.  And, in
addition to increasing its credit risk, Zayo's serial debt-financed
acquisition activity has also led to poor visibility into the
company's organic growth and steady state cost structure.

The positive outlook reflects Moody's view that Zayo will continue
its strong EBITDA growth such that leverage trends lower and free
cash flow remains positive.  Zayo has increased capital investment
but primarily in response to strong demand for wireless backhaul
projects that have defined payback parameters.  Moody's expects
Zayo's capex to plateau and free cash flow to continue to grow such
that it can continue to fully self-fund its aggressive capex
program and finance an increasing portion of future M&A targets
from internally generated cash.

The ratings for the debt instruments reflect both the overall
probability of default of Zayo, to which Moody's has assigned a
probability of default rating (PDR) of B2-PD, and individual loss
given default assessments.  The senior secured credit facilities
are rated Ba2 (LGD2), three notches higher than the CFR given the
loss absorption from the B3 (LGD5) rated senior unsecured notes.

Moody's expects Zayo to maintain very good liquidity supported by
$176 million of cash on hand as of Dec. 31, 2015, and an
effectively undrawn $450 million revolver.  Moody's also expects
the company to generate modest free cash flow of around $100
million annually going forward.  Zayo has no debt maturities prior
to 2020 and the covenants governing Zayo's secured debt offer ample
cushion relative to the most recent results.

Moody's could upgrade Zayo's ratings if adjusted leverage
approaches 4.5x and FCF/Debt is sustained around 10%.  Downward
rating pressure could develop if liquidity deteriorates or if
capital intensity increases such that Zayo is unable to generate
sustainable positive free cash flow or if leverage exceeds 6x on a
sustained basis.

The principal methodology used in these ratings was Global
Communications Infrastructure Rating Methodology published in June
2011.

Headquartered in Boulder, Colorado, Zayo Group is a provider of
bandwidth infrastructure and network-neutral interconnection
services with significant fiber network assets and international
reach.


[*] Moody's Concludes Rating Reviews on 3 US B-Rated E&P Companies
------------------------------------------------------------------
Moody's Investors Service, on April 1, 2016, concluded rating
reviews on three US B-rated exploration and production (E&P)
companies.  Moody's downgraded one company's ratings three notches,
and upgraded two companies' ratings one notch.

                         RATINGS RATIONALE

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
prices, with the decline weakening credit metrics and liquidity,
and increasing their negative free cash flow.  The drop in oil
prices and corresponding capital market concerns will also raise
financing costs and increase refinancing risks for E&P companies.

The drop in oil 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 looks likely to
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 will vary
substantially from issuer to issuer.  As a result, Moody's
downgraded the current ratings of one company by multiple notches,
while upgrading others.

Clayton Williams Energy, Inc.

Moody's downgraded Clayton Williams Energy, Inc.'s Corporate Family
Rating to Caa3 from B3, with a stable outlook.  The downgrade
reflects the company's poor cash margins, high leverage and very
weak cash flow based metrics due to the subdued commodity price
outlook and lack of meaningful cash flow from hedges through 2017.
The company's leverage metrics are expected to worsen materially
and negative cash flow generation is likely to continue through at
least 2017.  CWEI's small scale and high debt balances exacerbate
its weak credit profile.  The company's ratings are supported by an
oil-focused asset base and adequate liquidity due to higher cash
balances from the recent issuance of a second lien term loan.

The stable outlook reflects CWEI's adequate liquidity at a time of
low oil prices.  The company's ratings could be downgraded if
liquidity drops below $100 million or retained cash flow remains
negative.  The ratings could be upgraded if CWEI's EBITDA to
Interest Expense exceeds 1.5x on a sustained basis and the company
maintains adequate liquidity with enough cushion under its
covenants.

CrownRock, L.P.

Moody's upgraded CrownRock, L.P.'s Corporate Family Rating to B2
from B3, with a stable outlook.  The upgrade reflects the company's
improving scale and credit metrics amid better EBITDA despite the
fall in commodity prices.  The B2 CFR reflects CrownRock's modest
but improved scale, large percentage of oil production, good
margins given a generally favorable hedging profile, and
management's track record of growing reserves and production in the
Permian Basin.  The company's vertical drilling activities in the
Permian, a well-known, long-lived oil field, entail lower operating
risk as compared to similarly rated peers. CrownRock has a high
concentration in the Permian, accounting for nearly all its proved
reserves and its PV-10 value.  CrownRock's B2 CFR also considers
its somewhat high leverage, especially debt to average daily
production at $32,000/boe and private equity ownership.  Moody's
expects an improvement in leverage as CrownRock continues to grow
its scale.

The stable outlook considers the company's ability to improve its
scale and leverage metrics from its drilling program for its
Wolfberry acreage.  The rating could be upgraded if production were
to reach 45,000 boe/d and retained cash flow to debt is likely to
remain above 25%.  The rating could be downgraded to B3 if retained
cash flow to debt falls below 15%, EBITDA to interest falls below
3x, or if liquidity worsens.

Parsley Energy LLC

Moody's upgraded Parsley Energy, LLC's (Parsley) Corporate Family
Rating (CFR) to B2 from B3, with a stable outlook.  The upgrade
reflects the company's strong execution on its growth capital
spending, rising EBITDA despite the fall in commodity prices, and
improving credit metrics which have been helped by equity
issuances.  The B2 CFR reflects its relatively modest scale and
concentrated geographic presence.  The rating also incorporates the
impact of the low crude oil price environment, which is mitigated
somewhat by Parsley's hedges for 2016 and 2017.  The CFR is
supported by quality acreage in the Permian Basin, liquids-rich
production that generates good cash margins, multiple year drilling
inventory, and a high degree (99%) of operational control over its
leasehold acreage, which allows for flexible capital allocation and
development of its acreage in light of crude price volatility.

The stable outlook reflects our expectation that production will be
sustained at or above 30,000 boe/d in 2016 and cash flow metrics
will remain strong.  The rating could be upgraded to B1 if
production were to reach 40,000 boe/d, retained cash flow to debt
is likely to remain above 20%, and the company approaches cash flow
neutrality after considering capex.  The rating could be downgraded
to B3 if retained cash flow to debt falls below 10%, EBITDA to
interest falls below 2.5x, or if liquidity worsens.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in December 2014.

Issuer: Clayton Williams Energy, Inc.

Downgrades:
  Probability of Default Rating, Downgraded to Caa3-PD from B3-PD
  Corporate Family Rating, Downgraded to Caa3 from B3
  Senior Unsecured Regular Bond/Debenture, Downgraded to Ca (LGD
   5) from Caa1 (LGD 5)

Affirmations:
  Speculative Grade Liquidity Rating, Affirmed SGL-3

Outlook Actions:

Issuer: Clayton Williams Energy, Inc.
  Outlook, Changed To Stable From Rating Under Review

Issuer: CrownRock, L.P.
Upgrades:
  Probability of Default Rating, Upgraded to B2-PD from B3-PD
  Corporate Family Rating, Upgraded to B2 from B3
  Senior Unsecured Regular Bond/Debentures, Upgraded to B3 (LGD 4)

   from Caa1 (LGD 4)

Outlook Actions:

Issuer: CrownRock, L.P.
  Outlook, Changed To Stable From Rating Under Review

Downgrades:

Upgrades:

Issuer: Parsley Energy LLC
  Probability of Default Rating, Upgraded to B2-PD from B3-PD
  Corporate Family Rating, Upgraded to B2 from B3
  Senior Unsecured Regular Bond/Debenture (Local Currency)
   Feb. 15, 2022, Upgraded to B3 (LGD5) from Caa1 (LGD5)

Outlook Actions:

Issuer: Parsley Energy LLC
  Outlook, Changed To Stable From Rating Under Review

Affirmations:

Issuer: Parsley Energy LLC
  Speculative Grade Liquidity Rating, Affirmed SGL-3



[*] Shinjiro Takagi Joins Morgan Lewis' Tokyo Office as Of Counsel
------------------------------------------------------------------
Further enhancing the firm's capabilities in Asia, Morgan Lewis on
April 1 disclosed that
Shinjiro Takagi -- a leading international bankruptcy lawyer and
former judge in Japan as well as a former Nomura Securities adviser
-- has joined the firm as of counsel in Tokyo.

"We are very pleased to welcome Judge Takagi to our global team as
we continue our strategic growth in Asia," said Firm Chair Jami
McKeon.  "His distinguished background in the areas of insolvency
and business revitalization in Japan, combined with his service on
the bench, further strengthens our ability to serve the
increasingly complex business and litigation needs of our clients
in the region."

Recognized in Japan for his leadership in some of the country's
most high-profile corporate restructurings, Judge Takagi served as
the chair of the Industrial Revitalization Corporation of Japan
(IRCJ) between 2003 and 2007.  At the time, the IRCJ was the
world's largest government-sponsored private equity fund
specializing in recapitalization and turnaround investments in
distressed companies through the purchase of more than JPY100
billion (approximately $1 billion) worth of bad debt and about
JPY10 trillion ($100 billion) in loans to help Japan's banks regain
their competitiveness.

Judge Takagi also led the restructuring task force for Japan
Airlines in 2009 and served as reorganization trustee for Kyoei
Life Insurance Company in 2000.  A former judge for the Tokyo High
Court (court of appeals), Judge Takagi has also been active in
Southeast Asia as adviser to the Asian Bankers Association and as
president of the East Asian Association of Insolvency and
Restructuring.

Formerly a lecturer and professor of law at several universities in
Japan, Judge Takagi has written numerous articles and publications
on bankruptcy, reorganization, litigation, and other related
issues.  He received the Outstanding Service and Contribution to
International Insolvency Award from the International Insolvency
Institute in 2005 and was also bestowed the Order of the Rising
Sun, Gold, and Silver Star by Japan's Emperor in 2007.

"Judge Takagi is one of the foremost authorities on insolvency and
restructuring law in Japan," said Tsugu Watanabe, managing partner
of Morgan Lewis's Tokyo office.  "His background and experience
dovetail perfectly with our Tokyo team's focus on complex
cross-border transactions, asset management regulation, and
disputes."

              About Morgan, Lewis & Bockius LLP

Founded in 1873, Morgan Lewis -- http://www.morganlewis.com--
offers more than 2,000 lawyers, patent agents, benefits advisers,
regulatory scientists, and other specialists-in 28 offices across
North America, Europe, Asia, and the Middle East.  The firm
provides comprehensive litigation, corporate, transactional,
regulatory, intellectual property, and labor and employment legal
services to clients of all sizes-from globally established industry
leaders to just-conceived start-ups.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                     Total    Holders'    Working
                                    Assets      Equity    Capital
  Company          Ticker             ($MM)       ($MM)      ($MM)
  -------          ------           ------    --------    -------
ABSOLUTE SOFTWRE   ABT2EUR EU        108.3       (42.6)     (41.9)
ABSOLUTE SOFTWRE   ABT CN            108.3       (42.6)     (41.9)
ABSOLUTE SOFTWRE   ALSWF US          108.3       (42.6)     (41.9)
ABSOLUTE SOFTWRE   OU1 GR            108.3       (42.6)     (41.9)
ADV MICRO DEVICE   AMD* MM         3,109.0      (412.0)     917.0
ADVENT SOFTWARE    ADVS US           424.8       (50.1)    (110.8)
AEROJET ROCKETDY   AJRD US         2,034.9      (145.5)     108.5
AEROJET ROCKETDY   GCY GR          2,034.9      (145.5)     108.5
AEROJET ROCKETDY   GCY TH          2,034.9      (145.5)     108.5
AK STEEL HLDG      AKS US          4,084.4      (595.6)     763.6
AK STEEL HLDG      AK2 TH          4,084.4      (595.6)     763.6
AK STEEL HLDG      AK2 GR          4,084.4      (595.6)     763.6
AK STEEL HLDG      AKS* MM         4,084.4      (595.6)     763.6
AMYLIN PHARMACEU   AMLN US         1,998.7       (42.4)     263.0
ANGIE'S LIST INC   ANGI US           174.9        (2.4)     (21.3)
ANGIE'S LIST INC   8AL GR            174.9        (2.4)     (21.3)
ANGIE'S LIST INC   8AL TH            174.9        (2.4)     (21.3)
ARCH COAL INC      ACIIQ* MM       5,106.7    (1,244.3)  (4,361.0)
ARGOS THERAPEUTI   ARGS US            31.1       (28.2)       0.7
ARIAD PHARM        ARIACHF EU        546.7      (103.1)     142.9
ARIAD PHARM        ARIA SW           546.7      (103.1)     142.9
ARIAD PHARM        ARIA US           546.7      (103.1)     142.9
ARIAD PHARM        APS GR            546.7      (103.1)     142.9
ARIAD PHARM        ARIAEUR EU        546.7      (103.1)     142.9
ARIAD PHARM        APS TH            546.7      (103.1)     142.9
ASPEN TECHNOLOGY   AZPN US           276.4       (22.2)      (4.4)
ASPEN TECHNOLOGY   AST GR            276.4       (22.2)      (4.4)
AUTOZONE INC       AZ5 QT          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZOEUR EU       8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZ5 TH          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZ5 GR          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZO US          8,366.4    (1,741.3)    (784.8)
AVID TECHNOLOGY    AVID US           247.9      (329.6)    (167.5)
AVID TECHNOLOGY    AVD GR            247.9      (329.6)    (167.5)
AVINTIV SPECIALT   POLGA US        1,991.4        (3.9)     322.1
AVON - BDR         AVON34 BZ       3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP TH          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP CI          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP* MM         3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP GR          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP US          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP QT          3,879.5    (1,056.4)     146.0
BARRACUDA NETWOR   7BM QT            429.9       (30.5)     (27.7)
BARRACUDA NETWOR   7BM GR            429.9       (30.5)     (27.7)
BARRACUDA NETWOR   CUDA US           429.9       (30.5)     (27.7)
BARRACUDA NETWOR   CUDAEUR EU        429.9       (30.5)     (27.7)
BENEFITFOCUS INC   BNFT US           182.1       (18.0)      18.4
BENEFITFOCUS INC   BTF GR            182.1       (18.0)      18.4
BERRY PLASTICS G   BP0 GR          7,710.0       (67.0)     646.0
BERRY PLASTICS G   BERY US         7,710.0       (67.0)     646.0
BLUE BIRD CORP     1291067D US       251.0      (121.5)       1.5
BLUE BIRD CORP     BLBD US           251.0      (121.5)       1.5
BOMBARDIER INC-B   BBDBN MM       22,903.0    (4,054.0)     282.0
BOMBARDIER-B OLD   BBDYB BB       22,903.0    (4,054.0)     282.0
BOMBARDIER-B W/I   BBD/W CN       22,903.0    (4,054.0)     282.0
BRINKER INTL       BKJ GR          1,579.9      (164.9)    (195.1)
BRINKER INTL       EAT US          1,579.9      (164.9)    (195.1)
BRP INC/CA-SUB V   BRPIF US        2,445.2       (14.1)     363.3
BRP INC/CA-SUB V   B15A GR         2,445.2       (14.1)     363.3
BRP INC/CA-SUB V   DOO CN          2,445.2       (14.1)     363.3
BUFFALO COAL COR   BUC SJ             54.9       (10.1)      (4.5)
BURLINGTON STORE   BURL US         2,580.1       (99.0)      46.4
BURLINGTON STORE   BUI GR          2,580.1       (99.0)      46.4
CABLEVISION SY-A   CVY GR          6,867.3    (4,911.6)    (313.1)
CABLEVISION SY-A   CVY TH          6,867.3    (4,911.6)    (313.1)
CABLEVISION SY-A   CVC US          6,867.3    (4,911.6)    (313.1)
CABLEVISION SY-A   CVCEUR EU       6,867.3    (4,911.6)    (313.1)
CABLEVISION-W/I    8441293Q US     6,867.3    (4,911.6)    (313.1)
CABLEVISION-W/I    CVC-W US        6,867.3    (4,911.6)    (313.1)
CAMBIUM LEARNING   ABCD US           141.4       (74.2)     (54.9)
CASELLA WASTE      WA3 GR            649.9       (21.6)      (8.7)
CASELLA WASTE      CWST US           649.9       (21.6)      (8.7)
CENTENNIAL COMM    CYCL US         1,480.9      (925.9)     (52.1)
CHARTER COM-A      CHTR US        39,316.0       (46.0)  (1,627.0)
CHARTER COM-A      CKZA GR        39,316.0       (46.0)  (1,627.0)
CHARTER COM-A      CKZA TH        39,316.0       (46.0)  (1,627.0)
CHOICE HOTELS      CHH US            717.0      (395.9)     102.9
CHOICE HOTELS      CZH GR            717.0      (395.9)     102.9
CINCINNATI BELL    CBB US          1,454.4      (298.2)     (58.8)
CINCINNATI BELL    CIB GR          1,454.4      (298.2)     (58.8)
CLEAR CHANNEL-A    C7C GR          6,357.2      (569.7)     656.6
CLEAR CHANNEL-A    CCO US          6,357.2      (569.7)     656.6
CLIFFS NATURAL R   CLF* MM         2,135.5    (1,811.6)     401.0
COGENT COMMUNICA   OGM1 GR           662.8       (12.3)     182.4
COGENT COMMUNICA   CCOI US           662.8       (12.3)     182.4
COHERUS BIOSCIEN   8C5 TH            212.4        (6.9)      91.4
COHERUS BIOSCIEN   CHRSEUR EU        212.4        (6.9)      91.4
COHERUS BIOSCIEN   CHRS US           212.4        (6.9)      91.4
COHERUS BIOSCIEN   8C5 GR            212.4        (6.9)      91.4
COLGATE-BDR        COLG34 BZ      11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CPA GR         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CLEUR EU       11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CPA TH         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CL* MM         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CLCHF EU       11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CL SW          11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CPA QT         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CL US          11,958.0       (44.0)     850.0
COMMUNICATION      8XC GR          2,542.6    (1,166.9)       -
COMMUNICATION      CSAL US         2,542.6    (1,166.9)       -
CPI CARD GROUP I   PNT CN            280.4       (86.6)      59.0
CPI CARD GROUP I   CPB GR            280.4       (86.6)      59.0
CPI CARD GROUP I   PMTS US           280.4       (86.6)      59.0
CYAN INC           YCN GR            112.1       (18.4)      56.9
CYAN INC           CYNI US           112.1       (18.4)      56.9
DELEK LOGISTICS    D6L GR            375.3       (11.0)      26.4
DELEK LOGISTICS    DKL US            375.3       (11.0)      26.4
DENNY'S CORP       DE8 GR            297.0       (60.6)     (65.1)
DENNY'S CORP       DENN US           297.0       (60.6)     (65.1)
DIRECTV            DTVEUR EU      25,321.0    (3,463.0)   1,360.0
DIRECTV            DTV CI         25,321.0    (3,463.0)   1,360.0
DIRECTV            DTV US         25,321.0    (3,463.0)   1,360.0
DOMINO'S PIZZA     DPZ US            799.8    (1,800.3)     226.7
DOMINO'S PIZZA     EZV TH            799.8    (1,800.3)     226.7
DOMINO'S PIZZA     EZV GR            799.8    (1,800.3)     226.7
DPL INC            DPL US          3,340.8       (62.2)    (453.8)
DUN & BRADSTREET   DB5 TH          2,273.6    (1,105.3)       0.4
DUN & BRADSTREET   DNB US          2,273.6    (1,105.3)       0.4
DUN & BRADSTREET   DB5 GR          2,273.6    (1,105.3)       0.4
DUN & BRADSTREET   DNB1EUR EU      2,273.6    (1,105.3)       0.4
DUNKIN' BRANDS G   DNKN US         3,197.1      (220.7)     139.0
DUNKIN' BRANDS G   2DB GR          3,197.1      (220.7)     139.0
DUNKIN' BRANDS G   2DB TH          3,197.1      (220.7)     139.0
DURATA THERAPEUT   DRTXEUR EU         82.1       (16.1)      11.7
DURATA THERAPEUT   DTA GR             82.1       (16.1)      11.7
DURATA THERAPEUT   DRTX US            82.1       (16.1)      11.7
EDGEN GROUP INC    EDG US            883.8        (0.8)     409.2
EMPIRE RESORTS I   LHC1 GR            65.4        (1.5)      (6.7)
EMPIRE RESORTS I   NYNY US            65.4        (1.5)      (6.7)
ENERGIZER HOLDIN   EGG GR          1,617.5       (32.5)     639.3
ENERGIZER HOLDIN   ENR-WEUR EU     1,617.5       (32.5)     639.3
ENERGIZER HOLDIN   ENR US          1,617.5       (32.5)     639.3
EOS PETRO INC      EOPT US             1.2       (27.9)     (29.0)
EPL OIL & GAS IN   EPL US            563.6      (933.3)    (308.4)
EPL OIL & GAS IN   EPA1 GR           563.6      (933.3)    (308.4)
ERIN ENERGY CORP   ERN SJ            376.2      (105.8)    (314.8)
EXELIXIS INC       EX9 TH            332.3      (104.3)     126.4
EXELIXIS INC       EXELEUR EU        332.3      (104.3)     126.4
EXELIXIS INC       EXEL US           332.3      (104.3)     126.4
EXELIXIS INC       EX9 GR            332.3      (104.3)     126.4
FAIRPOINT COMMUN   FONN GR         1,322.5        (1.5)      (4.1)
FAIRPOINT COMMUN   FRP US          1,322.5        (1.5)      (4.1)
FREESCALE SEMICO   1FS GR          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   FSLEUR EU       3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS TH          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   FSL US          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS QT          3,159.0    (3,079.0)   1,264.0
GAMCO INVESTO-A    GBL US            104.0      (276.3)       -
GAMING AND LEISU   GLPI US         2,448.2      (253.5)     (83.7)
GAMING AND LEISU   2GL GR          2,448.2      (253.5)     (83.7)
GARDA WRLD -CL A   GW CN           1,828.2      (378.3)     124.2
GARTNER INC        IT US           2,174.7      (132.4)    (182.5)
GARTNER INC        GGRA GR         2,174.7      (132.4)    (182.5)
GENTIVA HEALTH     GHT GR          1,225.2      (285.2)     130.0
GENTIVA HEALTH     GTIV US         1,225.2      (285.2)     130.0
GLG PARTNERS INC   GLG US            400.0      (285.6)     156.9
GLG PARTNERS-UTS   GLG/U US          400.0      (285.6)     156.9
GOLD RESERVE INC   GDRZF US           15.0       (32.3)     (42.5)
GOLD RESERVE INC   GRZ CN             15.0       (32.3)     (42.5)
GOLD RESERVE INC   GOD GR             15.0       (32.3)     (42.5)
GRAHAM PACKAGING   GRM US          2,947.5      (520.8)     298.5
GYMBOREE CORP/TH   GYMB US         1,242.0      (386.5)      30.8
H&R BLOCK INC      HRB US          2,874.0      (536.7)     631.6
H&R BLOCK INC      HRB TH          2,874.0      (536.7)     631.6
H&R BLOCK INC      HRB GR          2,874.0      (536.7)     631.6
H&R BLOCK INC      HRBEUR EU       2,874.0      (536.7)     631.6
HCA HOLDINGS INC   2BH TH         32,744.0    (6,046.0)   3,716.0
HCA HOLDINGS INC   HCA US         32,744.0    (6,046.0)   3,716.0
HCA HOLDINGS INC   HCAEUR EU      32,744.0    (6,046.0)   3,716.0
HCA HOLDINGS INC   2BH GR         32,744.0    (6,046.0)   3,716.0
HECKMANN CORP-U    HEK/U US          531.3       (38.3)    (461.5)
HERBALIFE LTD      HLF US          2,477.9       (53.5)     541.9
HERBALIFE LTD      HLFEUR EU       2,477.9       (53.5)     541.9
HERBALIFE LTD      HOO GR          2,477.9       (53.5)     541.9
HEWLETT-PACKA-WI   HPQ-W US       25,517.0    (4,909.0)  (1,606.0)
HOVNANIAN-A-WI     HOV-W US        2,552.7      (143.1)   1,501.0
HP COMPANY-BDR     HPQB34 BZ      25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ* MM        25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQCHF EU      25,517.0    (4,909.0)  (1,606.0)
HP INC             7HP GR         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ CI         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ TE         25,517.0    (4,909.0)  (1,606.0)
HP INC             7HP TH         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ SW         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ US         25,517.0    (4,909.0)  (1,606.0)
HP INC             HWP QT         25,517.0    (4,909.0)  (1,606.0)
HUGHES TELEMATIC   HUTCU US          110.2      (101.6)    (113.8)
IDEXX LABS         IX1 GR          1,475.0       (84.0)     (35.1)
IDEXX LABS         IDXX US         1,475.0       (84.0)     (35.1)
IDEXX LABS         IX1 TH          1,475.0       (84.0)     (35.1)
IMMUNOGEN INC      IMU GR            251.6       (16.7)     179.3
IMMUNOGEN INC      IMGN US           251.6       (16.7)     179.3
IMMUNOGEN INC      IMU TH            251.6       (16.7)     179.3
INFOR US INC       LWSN US         6,778.1      (460.0)    (305.9)
INNOVIVA INC       INVA US           424.1      (342.6)     200.8
INNOVIVA INC       HVE GR            424.1      (342.6)     200.8
INTERNATIONAL WI   ITWG US           325.1       (11.5)      95.4
INVENTIV HEALTH    VTIV US         2,152.7      (771.1)     124.3
IONIX TECHNOLOGY   IINX US             0.0        (0.0)      (0.0)
IPCS INC           IPCS US           559.2       (33.0)      72.1
ISRAMCO INC        ISRLEUR EU        147.0        (2.9)      13.0
ISRAMCO INC        IRM GR            147.0        (2.9)      13.0
ISRAMCO INC        ISRL US           147.0        (2.9)      13.0
ISTA PHARMACEUTI   ISTA US           124.7       (64.8)       2.2
J CREW GROUP INC   JCG US          1,516.3      (769.0)      91.7
JACK IN THE BOX    JACK US         1,273.0       (60.1)    (103.2)
JACK IN THE BOX    JACK1EUR EU     1,273.0       (60.1)    (103.2)
JACK IN THE BOX    JBX GR          1,273.0       (60.1)    (103.2)
JUST ENERGY GROU   1JE GR          1,274.3      (673.6)     (97.6)
JUST ENERGY GROU   JE US           1,274.3      (673.6)     (97.6)
JUST ENERGY GROU   JE CN           1,274.3      (673.6)     (97.6)
KEMPHARM INC       1GD GR             55.7       (10.1)      45.7
KEMPHARM INC       KMPH US            55.7       (10.1)      45.7
KOPPERS HOLDINGS   KO9 GR          1,125.4       (12.4)     163.8
KOPPERS HOLDINGS   KOP US          1,125.4       (12.4)     163.8
L BRANDS INC       LTD TH          8,493.0      (258.0)   2,281.0
L BRANDS INC       LTD GR          8,493.0      (258.0)   2,281.0
L BRANDS INC       LBEUR EU        8,493.0      (258.0)   2,281.0
L BRANDS INC       LTD QT          8,493.0      (258.0)   2,281.0
L BRANDS INC       LB* MM          8,493.0      (258.0)   2,281.0
L BRANDS INC       LB US           8,493.0      (258.0)   2,281.0
LEAP WIRELESS      LEAP US         4,662.9      (125.1)     346.9
LEAP WIRELESS      LWI GR          4,662.9      (125.1)     346.9
LEAP WIRELESS      LWI TH          4,662.9      (125.1)     346.9
LORILLARD INC      LLV GR          4,154.0    (2,134.0)   1,135.0
LORILLARD INC      LLV TH          4,154.0    (2,134.0)   1,135.0
LORILLARD INC      LO US           4,154.0    (2,134.0)   1,135.0
MADISON-A/NEW-WI   MSGN-W US         911.0    (1,213.9)     103.4
MAJESCOR RESOURC   MJXEUR EU           0.0        (0.1)      (0.1)
MALIBU BOATS-A     M05 GR            199.9        (1.4)      13.7
MALIBU BOATS-A     MBUU US           199.9        (1.4)      13.7
MANNKIND CORP      MNKD IT           126.4      (350.3)    (191.7)
MARRIOTT INTL-A    MAQ TH          6,082.0    (3,590.0)  (1,849.0)
MARRIOTT INTL-A    MAQ GR          6,082.0    (3,590.0)  (1,849.0)
MARRIOTT INTL-A    MAQ QT          6,082.0    (3,590.0)  (1,849.0)
MARRIOTT INTL-A    MAR US          6,082.0    (3,590.0)  (1,849.0)
MDC COMM-W/I       MDZ/W CN        1,590.2      (417.6)    (403.9)
MDC PARTNERS-A     MDCA US         1,590.2      (417.6)    (403.9)
MDC PARTNERS-A     MD7A GR         1,590.2      (417.6)    (403.9)
MDC PARTNERS-A     MDZ/A CN        1,590.2      (417.6)    (403.9)
MDC PARTNERS-EXC   MDZ/N CN        1,590.2      (417.6)    (403.9)
MEAD JOHNSON       MJN US          3,998.1      (592.5)   1,349.1
MEAD JOHNSON       MJNEUR EU       3,998.1      (592.5)   1,349.1
MEAD JOHNSON       0MJA TH         3,998.1      (592.5)   1,349.1
MEAD JOHNSON       0MJA GR         3,998.1      (592.5)   1,349.1
MEDLEY MANAGE-A    MDLY US           121.5       (17.7)      53.8
MERITOR INC        AID1 GR         2,050.0      (653.0)     118.0
MERITOR INC        MTOR US         2,050.0      (653.0)     118.0
MERRIMACK PHARMA   MACK US           234.9      (183.7)      97.6
MERRIMACK PHARMA   MP6 GR            234.9      (183.7)      97.6
MICHAELS COS INC   MIM GR          2,023.3    (1,724.1)     594.9
MICHAELS COS INC   MIK US          2,023.3    (1,724.1)     594.9
MIDSTATES PETROL   MPO1EUR EU        679.2    (1,326.1)  (1,838.8)
MONEYGRAM INTERN   9M1N QT         4,505.2      (222.8)     (19.0)
MONEYGRAM INTERN   MGI US          4,505.2      (222.8)     (19.0)
MOODY'S CORP       MCO US          5,123.4      (333.0)   2,024.6
MOODY'S CORP       DUT TH          5,123.4      (333.0)   2,024.6
MOODY'S CORP       MCOEUR EU       5,123.4      (333.0)   2,024.6
MOODY'S CORP       DUT GR          5,123.4      (333.0)   2,024.6
MOTOROLA SOLUTIO   MSI US          8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MOT TE          8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MTLA GR         8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MTLA TH         8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MTLA QT         8,387.0       (96.0)   2,389.0
MPG OFFICE TRUST   1052394D US     1,280.0      (437.3)       -
MSG NETWORKS- A    1M4 GR            911.0    (1,213.9)     103.4
MSG NETWORKS- A    1M4 TH            911.0    (1,213.9)     103.4
MSG NETWORKS- A    MSGN US           911.0    (1,213.9)     103.4
NATHANS FAMOUS     NFA GR             81.0       (65.2)      57.4
NATHANS FAMOUS     NATH US            81.0       (65.2)      57.4
NATIONAL CINEMED   NCMI US         1,084.3      (171.7)      84.6
NATIONAL CINEMED   XWM GR          1,084.3      (171.7)      84.6
NAVIDEA BIOPHARM   NAVB IT            15.0       (53.8)       6.4
NAVISTAR INTL      NAV US          5,980.0    (5,190.0)     139.0
NAVISTAR INTL      IHR GR          5,980.0    (5,190.0)     139.0
NAVISTAR INTL      IHR TH          5,980.0    (5,190.0)     139.0
NEFF CORP-CL A     NEFF US           653.7      (165.8)      22.0
NEW ENG RLTY-LP    NEN US            202.2       (30.8)       -
NORTHERN OIL AND   NOG US            733.9      (197.6)      50.7
NORTHERN OIL AND   4LT GR            733.9      (197.6)      50.7
NTELOS HOLDINGS    NTLS US           643.0       (39.0)     106.7
OMEROS CORP        OMER US            49.0       (26.2)      20.9
OMEROS CORP        3O8 TH             49.0       (26.2)      20.9
OMEROS CORP        3O8 GR             49.0       (26.2)      20.9
OMEROS CORP        OMEREUR EU         49.0       (26.2)      20.9
OMTHERA PHARMACE   OMTH US            18.3        (8.5)     (12.0)
OUTERWALL INC      OUTR US         1,366.1       (22.1)      43.2
OUTERWALL INC      CS5 GR          1,366.1       (22.1)      43.2
PALM INC           PALM US         1,007.2        (6.2)     141.7
PBF LOGISTICS LP   PBFX US           422.9      (185.7)      34.2
PBF LOGISTICS LP   11P GR            422.9      (185.7)      34.2
PENN NATL GAMING   PENN US         5,138.8      (678.0)    (185.3)
PENN NATL GAMING   PN1 GR          5,138.8      (678.0)    (185.3)
PHILIP MORRIS IN   PMI EB         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PMI1 IX        33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM1EUR EU      33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM1CHF EU      33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   4I1 QT         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   4I1 TH         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM US          33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM1 TE         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM FP          33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PMI SW         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   4I1 GR         33,956.0   (11,476.0)     418.0
PLANET FITNESS-A   PLNT US           699.2        (1.1)       6.7
PLANET FITNESS-A   3PL TH            699.2        (1.1)       6.7
PLANET FITNESS-A   3PL GR            699.2        (1.1)       6.7
PLAYBOY ENTERP-A   PLA/A US          165.8       (54.4)     (16.9)
PLAYBOY ENTERP-B   PLA US            165.8       (54.4)     (16.9)
PLY GEM HOLDINGS   PGEM US         1,285.9       (76.8)     256.1
PLY GEM HOLDINGS   PG6 GR          1,285.9       (76.8)     256.1
POLYMER GROUP-B    POLGB US        1,991.4        (3.9)     322.1
PROTECTION ONE     PONE US           562.9       (61.8)      (7.6)
PURETECH HEALTH    PRTCL IX            -           -          -
PURETECH HEALTH    PRTC LN             -           -          -
PURETECH HEALTH    PRTCGBX EU          -           -          -
PURETECH HEALTH    PRTCL EB            -           -          -
QUALITY DISTRIBU   QDZ GR            413.0       (22.9)     102.9
QUALITY DISTRIBU   QLTY US           413.0       (22.9)     102.9
QUINTILES TRANSN   Q US            3,926.3      (335.7)     817.8
QUINTILES TRANSN   QTS GR          3,926.3      (335.7)     817.8
RAYONIER ADV       RYQ GR          1,288.5       (17.1)     196.3
RAYONIER ADV       RYAM US         1,288.5       (17.1)     196.3
REGAL ENTERTAI-A   RGC* MM         2,632.3      (877.6)    (113.1)
REGAL ENTERTAI-A   RETA GR         2,632.3      (877.6)    (113.1)
REGAL ENTERTAI-A   RGC US          2,632.3      (877.6)    (113.1)
RENAISSANCE LEA    RLRN US            57.0       (28.2)     (31.4)
RENTECH NITROGEN   2RN GR            241.4      (166.3)      12.0
RENTECH NITROGEN   RNF US            241.4      (166.3)      12.0
RENTPATH LLC       PRM US            208.0       (91.7)       3.6
REVLON INC-A       RVL1 GR         2,014.3      (587.5)     351.9
REVLON INC-A       REV US          2,014.3      (587.5)     351.9
ROUNDY'S INC       4R1 GR          1,095.7       (92.7)      59.7
ROUNDY'S INC       RNDY US         1,095.7       (92.7)      59.7
RURAL/METRO CORP   RURL US           303.7       (92.1)      72.4
RYERSON HOLDING    RYI US          1,556.2      (140.8)     643.0
RYERSON HOLDING    7RY GR          1,556.2      (140.8)     643.0
SALLY BEAUTY HOL   SBH US          2,043.1      (321.7)     674.9
SALLY BEAUTY HOL   S7V GR          2,043.1      (321.7)     674.9
SANCHEZ ENERGY C   13S GR          1,542.3      (456.2)     499.1
SANCHEZ ENERGY C   SN* MM          1,542.3      (456.2)     499.1
SANCHEZ ENERGY C   13S TH          1,542.3      (456.2)     499.1
SANCHEZ ENERGY C   SN US           1,542.3      (456.2)     499.1
SBA COMM CORP-A    SBAC US         7,403.2    (1,706.1)      20.6
SBA COMM CORP-A    SBJ TH          7,403.2    (1,706.1)      20.6
SBA COMM CORP-A    SBJ GR          7,403.2    (1,706.1)      20.6
SBA COMM CORP-A    SBACEUR EU      7,403.2    (1,706.1)      20.6
SCIENTIFIC GAM-A   TJW GR          7,732.2    (1,495.5)     521.6
SCIENTIFIC GAM-A   SGMS US         7,732.2    (1,495.5)     521.6
SEARS HOLDINGS     SEE TH         11,337.0    (1,956.0)     607.0
SEARS HOLDINGS     SEE GR         11,337.0    (1,956.0)     607.0
SEARS HOLDINGS     SEE QT         11,337.0    (1,956.0)     607.0
SEARS HOLDINGS     SHLD US        11,337.0    (1,956.0)     607.0
SENSEONICS HLDGS   SENS US             5.5        (9.7)      (2.4)
SILVER SPRING NE   SSNI US           457.7       (33.9)       5.7
SILVER SPRING NE   9SI TH            457.7       (33.9)       5.7
SILVER SPRING NE   9SI GR            457.7       (33.9)       5.7
SIRIUS XM CANADA   SIICF US          311.1      (147.2)    (189.0)
SIRIUS XM CANADA   XSR CN            311.1      (147.2)    (189.0)
SIRIUS XM HOLDIN   RDO TH          8,046.7      (166.5)  (1,934.6)
SIRIUS XM HOLDIN   SIRI US         8,046.7      (166.5)  (1,934.6)
SIRIUS XM HOLDIN   RDO GR          8,046.7      (166.5)  (1,934.6)
SONIC CORP         SO4 GR            606.7       (33.2)      15.5
SONIC CORP         SONC US           606.7       (33.2)      15.5
SONIC CORP         SONCEUR EU        606.7       (33.2)      15.5
SPORTSMAN'S WARE   06S GR            303.0        (2.1)     104.8
SPORTSMAN'S WARE   SPWH US           303.0        (2.1)     104.8
SUPERVALU INC      SVU US          4,643.0      (444.0)      81.0
SUPERVALU INC      SJ1 TH          4,643.0      (444.0)      81.0
SUPERVALU INC      SJ1 GR          4,643.0      (444.0)      81.0
SYNDAX PHARMACEU   1T3 GR             12.8        (5.7)       2.1
SYNDAX PHARMACEU   SNDX US            12.8        (5.7)       2.1
TAILORED BRANDS    TLRD US         2,244.3      (100.1)     723.6
TRANSDIGM GROUP    TDG US          8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    TDGEUR EU       8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    T7D GR          8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    TDGCHF EU       8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    TDG SW          8,330.0      (964.3)   1,204.3
TRIBUNE PUBLISHI   TPUB US           833.0       (14.4)      (1.3)
TRINITY PLACE HO   TPHS US            56.3        (3.3)       -
UNISYS CORP        UISCHF EU       2,143.2    (1,378.6)     165.2
UNISYS CORP        UIS1 SW         2,143.2    (1,378.6)     165.2
UNISYS CORP        UIS US          2,143.2    (1,378.6)     165.2
UNISYS CORP        USY1 TH         2,143.2    (1,378.6)     165.2
UNISYS CORP        UISEUR EU       2,143.2    (1,378.6)     165.2
UNISYS CORP        USY1 GR         2,143.2    (1,378.6)     165.2
VECTOR GROUP LTD   VGR US          1,310.8      (122.2)     367.4
VECTOR GROUP LTD   VGR GR          1,310.8      (122.2)     367.4
VENOCO INC         VQ US             403.8      (354.3)     195.7
VERISIGN INC       VRS TH          2,357.7    (1,070.4)     464.9
VERISIGN INC       VRS GR          2,357.7    (1,070.4)     464.9
VERISIGN INC       VRSN US         2,357.7    (1,070.4)     464.9
VERIZON TELEMATI   HUTC US           110.2      (101.6)    (113.8)
VIRGIN MOBILE-A    VM US             307.4      (244.2)    (138.3)
WEIGHT WATCHERS    WW6 GR          1,422.1    (1,285.7)    (144.2)
WEIGHT WATCHERS    WTWEUR EU       1,422.1    (1,285.7)    (144.2)
WEIGHT WATCHERS    WW6 TH          1,422.1    (1,285.7)    (144.2)
WEIGHT WATCHERS    WTW US          1,422.1    (1,285.7)    (144.2)
WEST CORP          WSTC US         3,612.3      (552.1)     243.1
WEST CORP          WT2 GR          3,612.3      (552.1)     243.1
WESTERN REFINING   WNRL US           501.0       (68.4)      36.7
WESTERN REFINING   WR2 GR            501.0       (68.4)      36.7
WINGSTOP INC       WING US           121.1        (9.7)       7.1
WINGSTOP INC       EWG GR            121.1        (9.7)       7.1
WINMARK CORP       WINA US            47.4       (30.7)      16.9
WINMARK CORP       GBZ GR             47.4       (30.7)      16.9
WORKHORSE GROUP    1WO GR              5.2        (1.5)      (5.3)
WORKHORSE GROUP    WKHS US             5.2        (1.5)      (5.3)
YRC WORLDWIDE IN   YRCWEUR EU      1,894.6      (379.4)     160.9
YRC WORLDWIDE IN   YEL1 GR         1,894.6      (379.4)     160.9
YRC WORLDWIDE IN   YEL1 TH         1,894.6      (379.4)     160.9
YRC WORLDWIDE IN   YRCW US         1,894.6      (379.4)     160.9


                            *********

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.

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