TCR_Public/160523.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, May 23, 2016, Vol. 20, No. 144

                            Headlines

1001 PRINCESS: Exclusive Plan Filing Period Extended to May 30
21ST CENTURY: Receives Default Notice from Morgan Stanley
39 BISHOP JOE: Has Until June 10 to File Amended Plan
ABENGOA BIOENERGY: Wants Exclusive Plan Filing Extended to Oct. 21
ADELPHIA COMMUNICATIONS: Extends Exchange Offers Until May 26

ADVANCED MICRO DEVICES: May Issue 38M Shares Under 2004 Equity Plan
ADVANCED MICRO DEVICES: Stockholders Elect 9 Directors
ADVANCEPIERRE FOODS: S&P Puts 'B' CCR on CreditWatch Positive
AMBITEK INDUSTRIAL: Wants Plan Filing Period Extended by 26 Days
AMERICAN LASER: Davis' Bid for Summary Judgment Partially OK'd

ANACOR PHARMACEUTICALS: Signs Merger Agreement with Pfizer
AOXING PHARMACEUTICAL: Posts $670,000 Net Income for Third Quarter
ARROYO CDO I: Fitch Withdraws 'Bsf' Rating on Class C-1 Notes
ASPECT SOFTWARE: Weil Gotshal & Morris Represent Cross-Over Panel
ASPECT SOFTWARE: Young & Paul Weiss Represent Steering Committee

BIND THERAPEUTICS: Reaches Deal with Hercules on Cash Collateral
BLUE DOG AT 399: Taps Seyfarth Shaw as Special Litigation Counsel
BROOKE CORP: DZ Bank Awarded $450K in Suit vs. Connect Insurance
BULOVA TECHNOLOGIES: Delays Filing of March 31 Form 10-Q
BURCON NUTRASCIENCE: Charles Chan Kwok Keung Reports 22.4% Stake

CAAMM PROPERTIES: Hires Barruso as Accountant & Financial Advisor
CAPE COD COMMERCIAL: Hires Madoff & Khoury as Bankr. Counsel
CAR PARTS DEPOT: Voluntary Chapter 11 Case Summary
CARDIAC SCIENCE: U.S. Trustee Amends Committee Membership
CARLMAC-MCKINNON'S: Exclusive Plan Filing Extended to Sept. 16

CATASYS INC: Reports First Quarter 2016 Financial Results
CCH I: S&P Assigns 'BB+' Corp. Credit Rating, Outlook Stable
CHG HEALTHCARE: Moody's Affirms B2 Corporate Family Rating
CHIEFTAIN METALS: Enters Into Forbearance Agreement with Lender
CHIEFTAIN STEEL: U.S. Trustee Forms 3-Member Committee

CHINA BAK: Incurs $1.90 Million Net Loss in First Quarter
CHINA GINSENG: Delays Filing of March 31 Form 10-Q
CINCINNATI BELL: S&P Assigns 'BB-' Rating on $150MM Secured Loan
CLASSIC COMMUNITIES: Seeks to Employ Cunningham as Counsel
CLAYTON GENERAL: Wants Exclusive Plan Filing Extended to Jan. 30

CLEVELAND BIOLABS: Incurs $671,000 Net Loss in First Quarter
CONSTELLATION ENTERPRISES: S&P Lowers Corp. Credit Rating to 'D'
CORPORATE RESOURCE: Ch.11 Trustee Hires Kurtzman as Claims Agent
CUSTOM SOFTWARE: Plan Filing Deadline Moved to Sept. 30
CYRUSONE LP: Moody's Affirms B1 Corporate Family Ratings

DEX MEDIA: Moody's Cuts Probability of Default Rating to D-PD
DEX MEDIA: S&P Lowers CCR to 'D' Then Withdraws Rating
DIAMONDHEAD CASINO: Reports $384,000 Net Loss for First Quarter
DIFFUSION PHARMACEUTICALS: Incurs $6.22 Million Net Loss in Q1
DIGIPATH INC: Incurs $446,000 Net Loss in Second Quarter

DOLPHIN DIGITAL: Delays Filing of March 31 Form 10-Q
ELBIT IMAGING: Unit to Sell Riga Plaza for EUR93.4 Million
EMI PUBLISHING: Moody's Assigns B3 Ratings to New $350MM Notes
FIRSTLIGHT HYDRO: Moody's Affirms 'Ba2' Sr. Secured Bonds Rating
FLORHAM PARK: U.S. Trustee to Appoint Patient Care Ombudsman

FOREST PARK REALTY: Hires Kreager Mitchell as Real Estate Counsel
FOREVERGREEN WORLDWIDE: Incurs $523,000 Net Loss in First Quarter
FREEDOM COMMS: Exclusive Plan Filing Period Extended to June 28
FRESH & EASY: Hires Kelley Drye as Substitute Counsel
FTE NETWORKS: Incurs $1.12 Million Net Loss in First Quarter

FTS INT'L: S&P Lowers CCR to 'CCC+' on Prolonged Industry Downturn
FUEL PERFORMANCE: Incurs $440,000 Net Loss in First Quarter
FULLCIRCLE REGISTRY: Delays Filing of March 31 Form 10-Q
GARDNER DENVER: Moody's Cuts Corporate Family Rating to B3
GASTAR EXPLORATION: Signs Waiver Agreement with Wells Fargo

GENERATION BRANDS: Moody's Assigns a B2 Corporate Family Rating
GENIUS BRANDS: Andrew Heyward Reports 34.8% Equity Stake
GENIUS BRANDS: Incurs $1.73 Million Net Loss in First Quarter
GENIUS BRANDS: Issues Letter to Shareholders
GENTE JOVEN: Hires Luis D. Flores Gonzalez as Bankruptcy Counsel

GLYECO INC: Incurs $806,000 Net Loss in First Quarter
GOGO INC: S&P Assigns 'B-' CCR, Outlook Negative
GREAT LAKES COMNET: Asks Court to Extend Lease Decision Deadline
GREEN EARTH: Incurs $3.53 Million Net Loss in First Quarter
GROW CONDOS: Incurs $104,000 Net Loss in Third Quarter

HARROGATE INC: Fitch Affirms 'BB+' Ratings on 1997 Refunding Bonds
HCSB FINANCIAL: Amends 23.4 Million Shares Prospectus with SEC
HILLCREST INC: CCSB Buying Back 5,330 Shares at $10 Apiece
HOTI ENTERPRISES: Final Decree Closing Ch. 11 Cases Affirmed
HYPNOTIC TAXI: Citibank Suit Evidentiary Hearing Set for July 27

ICAGEN INC: Needs More Time to File March 31 Form 10-Q
IMPLANT SCIENCES: Incurs $4.09 Million Net Loss in Third Quarter
INFRAX SYSTEMS: Delays Dec. 31 Form 10-Q for Review
INTERVENTION ENERGY: Case Summary & Unsecured Creditor
ISIGN SOLUTIONS: Incurs $2.43 Million Net Loss in First Quarter

JAKAYS SALON: Wants June 20 Exclusive Plan Filing Deadline
JUMIO INC: Court Approves Sale of Assets to Centana
L. SCOTT APPAREL: Evidentiary Hearing Set for June 22
LATTICE INC: Incurs $234,000 Net Loss in First Quarter
LEARFIELD COMMUNICATIONS: S&P Retains 'B' Rating on Sr. Sec. Loan

LEO MOTORS: Incurs $458,000 Net Loss in First Quarter
LIBERTY INTERACTIVE: S&P Affirms 'BB' CCR, Outlook Altered to Neg.
LUVU BRANDS: Announces Fiscal 2016 Q3 Results
LWP CAPITAL: Regulators Issue Cease Trade Orders
M SPACE HOLDINGS: Case Summary & 20 Largest Unsecured Creditors

MASHBURN STORES: Court Extends Exclusive Plan Filing to July 25
MILESTONE SCIENTIFIC: Incurs $1.26 Million Net Loss in 1st Quarter
MTL PUBLISHING: S&P Affirms 'B+' CCR, Outlook Remains Stable
N-VIRO INTERNATIONAL: Delays Filing of March 31 Form 10-Q
NANOSPHERE INC: Incurs $6.68 Million Net Loss in First Quarter

NANOSPHERE INC: Perkins Capital Reports 10.2% Stake
NANOSPHERE INC: Signs $58 Million Merger Agreement with Luminex
NET ELEMENT: Incurs $1.88 Million Net Loss in First Quarter
NET ELEMENT: Reports First Quarter 2016 Results
NET ELEMENT: Swaps $250,000 Notes for Common Shares

NEW BEGINNINGS: Wants Exclusive Plan Filing Extended to Oct. 7
NORTH AMERICAN ENERGY: S&P Affirms 'B' CCR; Outlook Stable
PACIFIC THOMAS: Court Affirms Order Declaring Lease Invalid
PEABODY ENERGY: S&P Assigns 'BB-' Rating on $500MM DIP Term Loan
PETTIT OIL: Keybank's Bid for Partial Summary Judgment Granted

PHOENIX BRANDS: Case Summary & 20 Largest Unsecured Creditors
PHYSICAL PROPERTY: Incurs HK$167,000 Net Loss in First Quarter
PLASTIC2OIL INC: Delays Filing of March 31 Form 10-Q
POPEXPERT INC: Selling All Assets to Tirta for $150K
POSITIVEID CORP: Incurs $3.92 Million Net Loss in First Quarter

PRECISION OPTICS: Incurs $222,000 Net Loss in Third Quarter
PRESIDENTIAL REALTY: Incurs $170,000 Net Loss in First Quarter
PRESSURE BIOSCIENCES: Incurs $5.95 Million Net Loss in 1st Quarter
PRICEVILLE PARTNERS: Revises List of Vehicles to Be Auctioned
PRIMORSK INTERNATIONAL: June 15 Deadline to File Bid for 9 Vessels

RICEBRAN TECHNOLOGIES: Incurs $251,000 Net Loss in First Quarter
S. HEMENWAY: Seeks to Find Patient Care Ombudsman Unnecessary
SACRAMENTO COUNTY: S&P Revises Outlook on 'BB' Rating to Stable
SANDRIDGE ENERGY: Incurs $324 Million Net Loss in First Quarter
SANDRIDGE ENERGY: Terms of Restructuring Support Agreement

SEVENTY SEVEN ENERGY: S&P Cuts CCR to D on Missed Interest Payment
SHASTA ENTERPRISES: Trustee Selling Red Bluff Property for $640K
SHERWIN ALUMINA: Agrees to Pay $4K to Settle MSHA Violations
SHERWIN ALUMINA: Given More Time to Negotiate Bauxite Supply Deal
SKYLINE CORP: To Open Manufacturing Facility in Indiana

SOUTHERN REGIONAL: Seeks to Terminate Pension Plan
SPENDSMART NETWORKS: Delays Filing of March 31 Form 10-Q
SQUARETWO FINANCIAL: Cancels Registration of 11.625% Lien Notes
STATION CASINOS: Moody's Hikes Corporate Family Rating to B1
STELLAR BIOTECHNOLOGIES: Has Joint Venture Agreement with Neovacs

STONE ENERGY: Moody's Cuts Corporate Family Rating to Ca
STRATA SKIN: Incurs $1.43 Million Net Loss in First Quarter
SUNVALLEY SOLAR: Delays Filing of March 31 Form 10-Q
TEMPUR SEALY: Moody's Assigns Senior Unsecured Notes Rating B1
THIS IS IT: Hires Madoff & Khoury as Bankruptcy Counsel

TONGJI HEALTHCARE: Delays Filing of March 31 Form 10-Q
UNIVERSAL HEALTH: Moody's Gives Ba1 Rating to 2022 & 2026 Notes
USA DISCOUNTERS: Court OK's Additional $245K Retention Payment
VANGUARD HEALTHCARE: Proposes Aug. 5 as Claims Bar Date
VERITY CORP: Robert Stevens Appointed as Receiver

VESTIS RETAIL: Seeks to Sell Miscellaneous Assets
VISCOUNT SYSTEMS: Needs More Time to File March 31 Form 10-Q
WESTERN REFINING: Moody's Assigns B1 to 1st Lien Secured Term Loan
WILLMAN CONSTRUCTION: CFBFI Board of Trustees Appointed to UCC
ZYNEX INC: Needs More Time to File March 31 Form 10-Q

[*] Kevin Ryan Joins Sheppard Mullin's Bankruptcy Practice
[^] BOND PRICING: For the Week from May 16 to 20, 2016

                            *********

1001 PRINCESS: Exclusive Plan Filing Period Extended to May 30
--------------------------------------------------------------
The Hon. David R. Jones of the U.S. Bankruptcy Court for the
Southern District of Texas has extended, at the behest of 1001
Princess Holdings, LLC, the exclusive period to file a plan to May
30, 2016, and the exclusive period to solicit the filed plan to
July 28, 2016.

Headquartered in San Francisco, California, 1001 Princess Holdings,
LLC, filed for Chapter 11 bankruptcy protection (Bankr. S.D. Tex.
Case No. 15-20472) on Dec. 1, 2015, estimating its assets at
between $1 million and $10 million and liabilities at between
$500,000 and $1 million.  The petition was signed by Gen Shibayama,
manager.

Judge David R. Jones presides over the case.

Nathaniel Peter Holzer, Esq., at Jordan Hyden Womble Culbreth &
Holzer PC serves as the Debtor's bankruptcy counsel.

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


21ST CENTURY: Receives Default Notice from Morgan Stanley
---------------------------------------------------------
21st Century Oncology Holdings, Inc. was unable to file, by the
applicable deadline, its annual report on Form 10-K for the year
ended Dec. 31, 2015.  The Company is in the process of finalizing
the 2015 10-K.  The completion of the process has been delayed as a
result of the restatement of prior year financial results.

On May 12, 2016, the Company received notice from Morgan Stanley
Senior Funding, Inc., as administrative agent for the lenders under
the Credit Agreement, dated April 30, 2015, among the Company's
subsidiary, 21st Century Oncology, Inc., the lenders from time to
time party thereto and the Administrative Agent, at the direction
of the Required Lenders, that 21C is in default under the Credit
Agreement because, among other things, 21C has not timely delivered
2015 audited financial statements to the Administrative Agent.  If
the Company does not cure the defaults specified within the notice
within 30 days, the noncompliance will be deemed an Event of
Default under the Credit Agreement.  Receipt of the notice of
default does not result in an acceleration of any of the Company's
indebtedness.

Should an Event of Default occur under the Credit Agreement and the
indebtedness thereunder be accelerated, a cross-default would occur
under the Indenture, dated April 30, 2015, among 21C, the
guarantors from time to time party thereto and Wilmington Trust,
National Association, as Trustee of 21C's 11.00% Senior Notes due
2023.  Following an Event of Default under the Credit Agreement or
Indenture, the lenders under the Credit Agreement or holders of the
Notes, as applicable, could accelerate 21C’s indebtedness
outstanding under the Credit Agreement or Indenture, as applicable.
As of March 31, 2016, 21C had $120 million and $605.4 million
outstanding under the revolving portion and term loan portion of
the Credit Agreement, respectively, and $360 million outstanding
under the Indenture.  As of that same date, the Company had
approximately $72.4 million of cash and cash equivalents.

                   Filing of Quarterly Report

Due to the ongoing processes related to the restatement of prior
year financial results, the Company was not able to file its
quarterly report on Form 10-Q for the period ended March 31, 2016,
by the applicable deadline.

                        About 21st Century

21st Century Oncology, Inc., formerly known as Radiation Therapy
Services, Inc. ("RTS") owns and operates radiation treatment
facilities in the US and Latin America.

As of Sept. 30, 2015, the Company had $1.09 billion in total
assets, $1.33 billion in total liabilities, $370.47 million in
series A convertible redeemable preferred stock, $19.93 million in
noncontrolling interests and a total deficit of $623.11 million.

                            *     *     *

As reported by the TCR on Feb. 27, 2015, Moody's Investors Service
upgraded 21st Century Oncology, Inc.'s Corporate Family Rating and
Probability of Default Rating to B3 and B3-PD, respectively.
The upgrade of the Corporate Family Rating to B3 and SGL to SGL-2
reflects the receipt of a $325 million preferred equity investment
from the Canada Pension Plan Investment Board and subsequent debt
reduction.

In the May 20, 2016, edition of the TCR, Standard & Poor's
Ratings Services lowered its corporate credit rating on Fort
Myers, Fla.-based cancer care provider 21st Century Oncology
Holdings Inc. to 'CCC' from 'B-' and placed the rating on
CreditWatch with negative implications.


39 BISHOP JOE: Has Until June 10 to File Amended Plan
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts has
ordered 39 Bishop Joe L. Smith Way, LLC, to file an amended plan or
reorganization, an amended disclosure statement, and a motion for
the approval of the Disclosure Statement by June 10, 2016.

A hearing on the approval of the Disclosure Statement is set for
July 6, 2016, at 11:30 a.m.  If the Disclosure Statement is
approved, the exclusivity period will be extended through Aug. 15,
2016, and the hearing on the confirmation of the Plan will be held
on Aug. 15, 2016, at 11:00 a.m.

As reported by the Troubled Company Reporter on April 28, 2016, the
Debtor asked the Court to extend the time within which the Debtor
has the exclusive right to solicit approval of a Plan of
Reorganization.  The period during which the Debtor has the
exclusive right to obtain acceptances of the Plan was slated to
expire April 22, 2016, absent an extension.  The Debtor requests
that the Court extend the Acceptance Period through until the date
of the rescheduled Confirmation Hearing.

On May 28, 2015, the Debtor filed its Disclosure Statement and Plan
of Reorganization.  After further amendment, on Dec. 1, 2015, the
Debtor filed a Third Amended Disclosure Statement and Plan.  On
Dec. 2, 2015, the Bankruptcy Court approved the Debtor's Third
Amended Disclosure Statement.  The Debtor served the Order
approving the Third Amended Disclosure Statement; the Third Amended
Disclosure Statement; Third Amended Plan of Reorganization and
Ballot to all creditors on Dec. 9, 2015.  Due to circumstances
beyond the Debtor's control, the Debtor's third party proponent has
indicated that he is no longer willing to continue with the Plan.
The Debtor asked the Court to continue the Confirmation Hearing
generally.  

39 Bishop Joe L. Smith Way, LLC, is the owner of two buildings
located at 39 Bishop Joe L. Smith Way, Dorchester, Massachusetts.
The property contains two vacant buildings, each containing six
units, currently undergoing renovation.

39 Bishop Joe L. Smith Way, LLC filed a Chapter 11 petition (Bankr.
D. Mass. Case No. 15-10311) on Jan. 29, 2015, listing under $1
million in both assets and liabilities.  It is represented by John
M. McAuliffe, Esq., at McAuliffe & Associates, P.C.


ABENGOA BIOENERGY: Wants Exclusive Plan Filing Extended to Oct. 21
------------------------------------------------------------------
Abengoa Bioenergy US Holding, LLC, and its debtor affiliates ask
the U.S. Bankruptcy Court for the Eastern District of Missouri to
extend the exclusive periods within which to file and solicit
acceptances of a plan of reorganization by 120 days to Oct. 21,
2016, and Dec. 20, 2016, respectively, from June 23, 2016, and Aug.
22, 2016, respectively.

The Debtors seek these extensions to avoid the necessity of having
to formulate a plan of reorganization prematurely and to ensure
that their plan of reorganization best addresses the interests of
the Debtors and their employees, creditors and estates.

A hearing on the request is set for June 15, 2016, at 10:00 a.m.

Since the commencement of the Chapter 11 cases, the Debtors and
their professionals have undertaken substantial efforts to
accomplish three major tasks: (i) assuring smooth transition to
operating as debtors in possession in Chapter 11 cases; (ii)
restarting two ethanol production facilities that had been
shuttered in late 2015 due to the lack of funding; and (iii)
commencing a marketing process for substantially all of the Debtors
assets.  To that end, the Debtors worked diligently with their
advisors to obtain the DIP Financing, and to develop a budget that
would enable to the Debtors to accomplish their near-term
operational goals, instill confidence in their suppliers,
customers, and employees, and facilitate the marketing process in
order to maximize the value of the Debtors' assets.

In addition to obtaining the DIP financing and resolving several
objections, the Debtors and their professionals have focused their
efforts on: (i) coordinating the transfer of venue of the Chapter
11 cases of ABNE and ABC to this Court; (ii) obtaining first day
relief; (iii) preparing and filing the schedules and statements of
financial affairs; (iv) preparing monthly operating reports; (v)
commencing thorough analysis of their numerous executory contracts
and leases; (vi) engaging in negotiations with the alternative
natural gas suppliers in an effort to save substantial amounts on
the natural gas consumed at the newly restarted plants; and (vii)
seeking rejection of the gas supply agreement with Encore and
engaging in subsequent litigation and discovery.

Two of the Debtor's ethanol production facilities located in
Ravenna, Nebraska and York, Nebraska are operating at or near full
capacity, and are projecting to generate revenue of approximately
$26.2 million for the month of May 2016 based on the current
utilization and order flow.  The marketing efforts, spearheaded by
Carl Marks, with the help of Alvarez & Marsal North America, LLC,
the financial advisor to the Debtors' ultimate parent, Abengoa,
S.A., and with close participation of the Debtors' management, has
produced in numerous expressions of interest for the Debtors
assets.

The Debtors are focused on the overall maximization of the value of
their estates.  The path of these Chapter 11 cases will depend to
the large extend on the level of interest that the Debtors' assets
garner as the marketing efforts continue.  The Debtors are keeping
all options on the table, including seeking authority to sell their
assets pursuant to Section 363 of the Bankruptcy Code,
restructuring their operations, or implementing any combination.

An extension of the Exclusivity Periods will allow the Debtors to
bring the marketing process to fruition and to develop and take all
the necessary steps to implement the strategy that will result in
the best outcome for all stakeholders of the Debtors.

                         About Abengoa Bioenergy

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.

Spanish energy giant Abengoa S.A. is an 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.

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.

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 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.


ADELPHIA COMMUNICATIONS: Extends Exchange Offers Until May 26
-------------------------------------------------------------
ACC Claims Holdings, LLC on May 20 announced the amendment and
extension of offers to Eligible Holders (as defined below) 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, May 26, 2016.  The exchange offers
were previously scheduled to expire at 5:00 p.m., New York City
time, on Thursday,
May 19, 2016.  As of 5:00 p.m., New York City time, on Thursday,
May 19, 2016, Eligible Holders of $3,996,064,458.00 original
principal amount of ACC Senior Notes (as defined in the Plan of
Reorganization) outstanding, Eligible Holders of $273,289,582.05 of
ACC 4 Claims outstanding and Eligible Holders of $44,646,944.11 of
ACC 5 Claims outstanding had validly tendered their Claims pursuant
to the exchange offers.

Prior to the date of the amendment, the ACC Claims Holdings, LLC's
Operating Agreement provided that the terms and provisions of such
Operating Agreement may be modified or amended from time to time
only by a written instrument executed by the managing member;
provided that Operating Agreement may not be materially amended
(other than certain specified amendments) without the written
consent of (i) the managing member and (ii) the members holding a
majority of the Class A Interests and Class B Interests (treating
such classes as a single class of Interests acting together).  ACC
Claims Holdings, LLC has decided to amend and restate its Operating
Agreement such that the Operating Agreement may not be materially
amended without the written consent of the members holding at least
80% of the then outstanding Class A Interests and Class B Interests
(treating such classes as a single class of Interests acting
together).

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, April 1, 2016, April 8, 2016,
April 15, 2016, April 21, 2016, April 29, 2016, May 5, 2016, May
13, 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 and on the date hereof.

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 ww.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.


ADVANCED MICRO DEVICES: May Issue 38M Shares Under 2004 Equity Plan
-------------------------------------------------------------------
Advanced Micro Devices, Inc., filed with the Securities and
Exchange Commission a Form S-8 registration statement to register
an additional 38,000,000 shares of its common stock reserved for
issuance under the 2004 Equity Incentive Plan, which increase was
approved by the Company's Board of Directors on Feb. 12, 2016, and
its stockholders on May 12, 2016.  A copy of the prospectus is
available for free at https://is.gd/8CyISl

                 About Advanced Micro Devices

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

Advanced Micro incurred a net loss of $660 million on $3.99 billion
of net revenue for the year ended Dec. 26, 2015, compared to a net
loss of $403 million on $5.50 billion of net revenue for the year
ended Dec. 27, 2014.

                          *     *     *

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

As reported by the TCR on March 16, 2016, Fitch Ratings has
downgraded and withdrawn the ratings for Advanced Micro Devices,
Inc. (AMD) including the Long-term Issuer Default Rating (IDR) to
'CCC' from 'B-'.  The downgrade reflects prospects for negative
free cash flow (FCF) over the intermediate term and the consequent
liquidity issues and refinancing risk that could develop as the
2019 and 2020 debt maturities approach.

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


ADVANCED MICRO DEVICES: Stockholders Elect 9 Directors
------------------------------------------------------
Advanced Micro Devices, Inc., held its 2016 annual meeting of
stockholders on May 12, 2016, at which the stockholders:

  (a) elected Bruce L. Claflin, John E. Caldwell, Nora M. Denzel,
      Nicholas M. Donofrio, Martin L. Edelman, Joseph A.
      Householder, Michael J. Inglis, Dr. Lisa T. Su and Ahmed
      Yahia as directors;

  (b) ratified the appointment of Ernst & Young LLP as the
      Company's independent registered public accounting firm for
      the fiscal year ending Dec. 31, 2016;

  (c) approved the amendment and restatement of the Advanced Micro
      Devices, Inc. 2004 Equity Incentive Plan;

  (d) approved the amendment and restatement of the Advanced Micro
      Devices, Inc. Executive Incentive Plan; and

  (e) pproved on a non-binding, advisory basis, the compensation
      of the Named Executive Officers.

                  About Advanced Micro Devices

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

Advanced Micro incurred a net loss of $660 million on $3.99 billion
of net revenue for the year ended Dec. 26, 2015, compared to a net
loss of $403 million on $5.50 billion of net revenue for the year
ended Dec. 27, 2014.

                          *     *     *

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

As reported by the TCR on March 16, 2016, Fitch Ratings has
downgraded and withdrawn the ratings for Advanced Micro Devices,
Inc. (AMD) including the Long-term Issuer Default Rating (IDR) to
'CCC' from 'B-'.  The downgrade reflects prospects for negative
free cash flow (FCF) over the intermediate term and the consequent
liquidity issues and refinancing risk that could develop as the
2019 and 2020 debt maturities approach.

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


ADVANCEPIERRE FOODS: S&P Puts 'B' CCR on CreditWatch Positive
-------------------------------------------------------------
S&P Global Ratings placed its 'B' corporate credit rating on
Cincinnati, Ohio-based AdvancePierre Foods Inc. on CreditWatch with
positive implications.

At the same time, S&P assigned a 'B' issue-level rating to the
company's proposed $1.1 billion first-lien term loan maturing July
2023, with a '4' recovery rating, indicating S&P's expectation for
average recovery (30% to 50%, in the upper half of the range) in
the event of a payment default, and assigned a 'CCC+' issue-level
rating to the company's proposed $200 million second-lien term loan
maturing October 2020, with a '6' recovery rating, indicating S&P's
expectations for negligible recovery (0% to 10%) in the event of
payment default.  S&P is placing both of these issue-level ratings
on CreditWatch with positive implications. S&P's ratings assume the
transaction closes substantially on the terms presented to S&P.

S&P's ratings on the existing term loans will be withdrawn at the
close of the refinancing.

The CreditWatch placement reflects the company addressing its
near-term refinancing risk with its proposed new and second-lien
term loans, and the possibility of lower leverage if the company
successfully completes its IPO.  Although the pro forma leverage
for its refinancing transaction would not necessarily lead to a
higher rating (partly because it is leverage neutral, with pro
forma debt to EBITDA of about 5.5x), a successful IPO could
materially reduce leverage.  S&P estimates that if the company uses
about $140 million in proceeds from the IPO for debt repayment,
debt to EBTIDA could decline closer to 4.5x over the next year,
which in S&P's opinion would likely lead to an upgrade. If S&P
raises its corporate credit rating on AdvancePierre to 'B+', S&P
would also likely upgrade the company's newly issued first- and
second-lien term loans to 'B+' and 'B-', respectively.

AdvancePierre is narrowly concentrated in the value-added protein
segment of the highly competitive packaged food industry,
especially within the cyclical foodservice distributor channel,
which is subject to consumer discretionary spending.  Better
pricing discipline, improved operating efficiencies, and product
mix have helped the company improve its profitability and cash
flows by reducing its exposure to volatile commodity costs,
primarily beef.  The company's pricing is now done on a forward
basis as opposed to a lagging index and therefore should better
protect future gross margins and mitigate rapid input cost
movements.  AdvancePierre also has limited international diversity;
S&P estimates more than 90% of its sales are in the U.S. and the
balance is primarily in Canada.

"We intend to resolve the CreditWatch as soon as we have full
details and an understanding of the timing of the planned IPO,
which could reduce debt to EBITDA closer to 4.5x over the next
year," said S&P Global Ratings analyst Jessica Paige.  "We will
also assess the company's financial policies to determine if the
company' target leverage ratio and dividend policy following the
IPO warrants a less aggressive financial policy assessment than S&P
currently ascribes to AdvancePierre.  However, if AdvancePierre
does not complete the proposed IPO as currently described, S&P
would likely affirm the ratings with a stable outlook, and would
likely not consider a higher rating until S&P better understands
what the financial sponsors' future plans for its investment would
be at that time."


AMBITEK INDUSTRIAL: Wants Plan Filing Period Extended by 26 Days
----------------------------------------------------------------
Ambitek Industrial Contractors Inc, et al., request the U.S.
Bankruptcy Court for the District of Puerto Rico for an extension
of 26 additional days to file the Disclosure Statement and Plan of
Reorganization, and to extend the exclusivity period.  The Debtors
also request that the deadline to obtain the votes for the Plan be
extended for a term of 60 days after the order approving the
Disclosure Statement.

The Debtors' request is based upon these facts:

      a. the size and the complexity of the case due to the fact
         that four cases have been consolidated and duplicated
         proof of claims have been filed merit the extension
         hereby requested;

      b. the Debtors are meeting their obligations as debtors-in-
         possession.  Monthly Operating Reports have been filed
         and quarterly fees have been paid;

      c. any extension of time will not harm the creditors but
         will increase the possibilities of a successful
         reorganization;

      d. the Debtors make this request in good faith and without
         any intent to cause undue delay to the proceedings.

The Debtors are represented by:

         Mary Ann Gandia-Fabian, Esq.
         P.O. Box 270251
         San Juan, Puerto Rico 00928
         Tel: (787) 390-7111
         Fax: (787) 729-2203
         E-mail: gandialaw@gmail.com

Ambitek Industrial Contractors Inc filed for Chapter 11 bankruptcy
protection (Bankr. D.P.R. Case No. 15-09532) on Nov. 30, 2015.
Mary Ann Gandia-Fabian, Esq., at Gandia-Fabian Law Office serves as
the Debtor's bankruptcy counsel.

On Oct. 21, 2015, Cyma Cleaning Contractors, Inc., Innova
Industrial Contractor, Inc., and Handy Man Services, Inc., were
consolidated under the case 15-06582.  On Dec. 23, 2015, Ambitek
Industrial Contractors, Inc., was consolidated with Cyma Cleaning
Contractors, Inc., Innova Industrial Contractor, Inc., and Hany Man
Services, Inc., under the case 15-06582.


AMERICAN LASER: Davis' Bid for Summary Judgment Partially OK'd
--------------------------------------------------------------
In the case captioned ERICA MARIE DAVIS, Plaintiff, v. ALC OF NEW
YORK LLC, CLA OF NEW YORK LLC, CLA HOLD LLC d/b/a AMERICAN LASER
SKINCARE and AMERICAN LASER SKINCARE, Defendants, Docket No.
162467/14, Mot. Seq. No. 001 (N.Y.), the Supreme Court, New York
County issued an order granting in part and denying, in part, the
motion seeking default judgment filed by the plaintiff Erica Marie
Davis.

Davis alleged that, on April 2, 2011, she sustained burns to her
right leg as a result of the negligence of the defendants during a
laser hair removal procedure at the American Laser Center, located
at 871 Fifth Avenue in New York City.  Davis alleged that American
Laser Center, which did business as American Laser Skincare, was
owned by defendant ALC of New York LLC, also known as CLA of New
York LLC and was affiliated with CLA Hold LLC.  Davis moved 1)
pursuant to CPLR 3215(a) and (b), for a default judgment against
defendants ALC of New York LLC, CLA of New York LLC, CLA Hold LLC
d/b/a American Laser Skincare and American Laser Skincare, and
setting this matter down for an inquest, and 2) pursuant to CPLR
2004 and CPLR 306-b, for good cause shown and in the interests of
justice, to extend plaintiff's time to serve defendant CLA Hold
LLC, and 3) for such other relief as this Court deems just and
proper.

Upon a review of the papers submitted and the relevant statutes and
case law, the motion, which is unopposed, was granted to the extent
it sought a default judgment against the defendant ALC of New York
LLC and defendant CLA of New York LLC.

A full-text copy of the Court's May 5, 2016 decision and order is
available at https://is.gd/EPQLiX from Leagle.com.

                    About ALC Holdings

Farmington Hills, Michigan-based ALC Holdings LLC dba American
Laser Centers, and American Laser Skincare, provides laser hair
removal treatments.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Lead Case No. 11-13853) on Dec. 8, 2011.
Bankruptcy Judge Mary F. Walrath handles the case.  Landis
Rath & Cobb LLP represents the Debtors in their restructuring
efforts.  BMC Group Inc. serves as claims agent; SSG Capital
Advisors, LLC serves as financial advisors; and Traverse, LLC
serves as restructuring crisis manager.   MBC Consulting and
Melanie B. Cox serve as interim chief executive officer.  Qorval
and Eric Glassman serve as restructuring consultant.

As of Oct. 31, 2011, the Debtors disclosed total assets of
$80.4 million and total liabilities including $40.3 million owing
on a first-lien debt, $51 million in subordinated notes, and
$17.9 million is owing to trade suppliers.  American Laser Centers
of California LLC disclosed $20,988,454 in assets and $99,951,866
in liabilities as of the Chapter 11 filing.  ALC Holdings LLC
disclosed $14,662 in assets and $93,744,094 in liabilities. The
petitions were signed by Andrew Orr, chief financial officer & VP
corporate operations.

Herrick, Feinstein LLP represents the Official Committee of
Unsecured Creditors.  The Committee tapped Ashby & Geddes, P.A. as
Delaware Counsel and J.H. Cohn LLP as its financial advisor.


ANACOR PHARMACEUTICALS: Signs Merger Agreement with Pfizer
----------------------------------------------------------
Pfizer Inc. and Anacor Pharmaceuticals, Inc., announced that they
have entered into a definitive merger agreement under which Pfizer
will acquire Anacor for $99.25 per Anacor share, in cash, for a
total transaction value, net of cash, of approximately $5.2
billion, which assumes the conversion of Anacor's outstanding
convertible notes.  The Boards of Directors of both companies have
unanimously approved the transaction.  Anacor's flagship asset,
crisaborole, a differentiated non-steroidal topical PDE4 inhibitor
with anti-inflammatory properties, is currently under review by the
U.S. FDA for the treatment of mild-to-moderate atopic dermatitis,
commonly referred to as eczema.

"We believe the acquisition of Anacor represents an attractive
opportunity to address a significant unmet medical need for a large
patient population with mild-to-moderate atopic dermatitis, which
currently has few safe topical treatments available," said Albert
Bourla, Group President of Pfizer's Global Innovative Pharma and
Global Vaccines, Oncology and Consumer Healthcare Businesses.
"Crisaborole is a differentiated asset with compelling clinical
data that, if approved, has the potential to be an important
first-line treatment option for these patients and the physicians
who treat them."

"Anacor will be a strong fit with Pfizer's innovative business,
further supporting our strategic focus on Inflammation and
Immunology, and is expected to enhance near-term revenue growth for
the innovative business. Our dedicated Inflammation and Immunology
group has strong existing in-market franchises with Enbrel and
Xeljanz, as well as a robust mid-stage pipeline, and this
acquisition has the potential to add a near-term U.S. product
launch.  We believe we are well positioned to maximize
crisaborole's commercial potential through our strong relationships
with pediatricians and primary care physicians," continued Bourla.

In both of its Phase 3 pivotal studies, crisaborole achieved
statistically significant results on all primary and secondary
endpoints and in March 2016, the FDA accepted for review Anacor's
New Drug Application seeking approval of crisaborole for the
potential treatment of mild-to-moderate atopic dermatitis in
children and adults.  The Prescription Drug User Fee Act (PDUFA)
goal date for the completion of the FDA's review is Jan. 7, 2017.
If approved, Pfizer believes peak year sales for crisaborole have
the potential to reach or exceed $2.0 billion.

"Today marks the beginning of an exciting new chapter for Anacor,
which we believe will deliver significant value to our
shareholders," said Paul L. Berns, Anacor's Chairman and chief
executive officer.  "We have a deep respect for Pfizer, and it is
clear that they share our commitment to addressing the significant
unmet medical needs in inflammatory disease.  We are proud of the
innovative company that our team has built and are confident that
Pfizer will help accelerate Anacor's important mission given the
strength of its global platform and resources."

Atopic dermatitis is a common, relapsing, chronic, inflammatory
skin disorder, with patients displaying a chronic rash
characterized by inflammation and itching, often occurring in folds
of the skin with symptoms lasting up to 14 days or more.
Approximately 18 to 25 million people in the United States suffer
from this condition, including between 8 and 18% of infants and
children.  Atopic dermatitis has been considerably underdiagnosed
due to the lack of approved effective systemic agents, and
limitations of current topical agents.  There have been no new
molecular entities for atopic dermatitis in the last 15 years.

Anacor also holds the rights to Kerydin, a topical treatment for
onychomycosis (toenail fungus) that is distributed and
commercialized by Sandoz Inc. in the U.S.

Pfizer anticipates financing the transaction through existing cash.
Pfizer does not expect the transaction to impact its current 2016
financial guidance. Pfizer expects the transaction to be slightly
dilutive to Adjusted Diluted Earnings Per Share (EPS)(1) in 2017
with accretion to Adjusted Diluted EPS(1) beginning in 2018 and
increasing thereafter.

Under the terms of the merger agreement, a subsidiary of Pfizer
will commence a cash tender offer to purchase all of the
outstanding shares of Anacor common stock for $99.25 per share in
cash. The closing of the tender offer is subject to customary
closing conditions, including U.S. antitrust clearance and the
tender of a majority of the outstanding shares of Anacor common
stock.  The merger agreement contemplates that Pfizer will acquire
any shares of Anacor that are not tendered into the offer through a
second-step merger, which will be completed promptly following the
closing of the tender offer.  Pfizer expects to complete the
acquisition in the third-quarter 2016.

Pfizer's financial advisors for the transaction were Centerview
Partners and Guggenheim Securities, and Wachtell, Lipton, Rosen &
Katz acted as its legal advisor.  Citi served as Anacor's financial
advisor, and Davis Polk & Wardwell, LLP served as its legal
advisor.

A copy of the Agreement and Plan of Merger is available for free at
https://is.gd/ludDzB

                   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 March 31, 2016, Anacor had $164 million in total assets, $119
million in total liabilities, $49,000 in redeemable common stock
and $44.6 million in total stockholders' equity.


AOXING PHARMACEUTICAL: Posts $670,000 Net Income for Third Quarter
------------------------------------------------------------------
Aoxing Pharmaceutical Company, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $670,376 on $6.56 million of sales for the three
months ended March 31, 2016, compared to net income of $829,938 on
$6.59 million of sales for the same period in 2015.

For the nine months ended March 31, 2016, Aoxing reported net
income of $4.20 million on $23.50 million of sales compared to net
income of $1.42 million on $17.58 million of sales for the nine
months ended March 31, 2015.

As of March 31, 2016, Aoxing had $58.92 million in total assets,
$38.37 million in total liabilities and $20.55 million in total
equity.

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

                   https://is.gd/EK3QYP

                        About Aoxing

Aoxing Pharmaceutical Company, Inc., has one operating subsidiary,
Hebei Aoxing Pharmaceutical Co., Inc., which is organized under
the laws of the People's Republic of China.  Since 2002, Hebei
Aoxing has been engaged in developing narcotics and pain management
products.  In 2008 Hebei Aoxing supplemented its product lines by
acquiring Shijiazhuang Lerentang Pharmaceutical Company, Ltd., a
specialty pharmaceutical company focusing on herbal pain related
therapeutics.  The Company owns 95% of the equity in Hebei Aoxing.

Aoxing Pharmaceutical reported net income attributable to
shareholders of the Company of $5.49 million on $25.48 million of
sales for the year ended June 30, 2015, compared to a net loss
attributable to shareholders of the Company of $8.21 million on
$12.7 million of sales for the year ended June 30, 2014.

BDO China Shu Lun Pan Certified Public Accountants LLP, in
Shanghai, People's Republic of China, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, stating that the Company accumulated a large
deficit and a working capital deficit that raise substantial doubt
about its ability to continue as a going concern.


ARROYO CDO I: Fitch Withdraws 'Bsf' Rating on Class C-1 Notes
-------------------------------------------------------------
Fitch Ratings has withdrawn the ratings on all remaining classes of
notes in Arroyo CDO I Ltd. as follows:

-- $9,236,127 class C-1 notes 'Bsf'; Outlook Stable;
-- $14,777,803 class C-2 notes 'Bsf'; Outlook Stable.

KEY RATING DRIVERS

Fitch is withdrawing the ratings on the class C-1 and C-2 notes of
Arroyo CDO I Ltd. as the notes have been cancelled.

RATING SENSITIVITIES

Following the cancelation of the notes and withdrawal of the
ratings, rating sensitivities do not apply.


ASPECT SOFTWARE: Weil Gotshal & Morris Represent Cross-Over Panel
-----------------------------------------------------------------
Weil, Gotshal & Manges LLP and Morris, Nichols, Arsht & Tunnell LLP
filed with the U.S. Bankruptcy Court for the District of Delaware a
verified statement regarding ad hoc group of creditors in the
Chapter 11 cases of Aspect Software Parent, Inc., et al., pursuant
to Bankruptcy Rule 2019.

Weil Gotshal and Morris Nichols tell the Court that they represent
an ad hoc group composed of (i) certain funds or accounts managed,
advised, or sub-advised by GSO Capital Partners LP, (ii) certain
funds or accounts managed, advised, or subadvised by Guggenheim
Partners Investment Management, LLC, or its affiliates, (iii)
certain funds and accounts managed and advised by MidOcean Credit
Fund Management, LP, and (iv) certain funds and accounts managed by
J.P. Morgan Investment Management Inc., as holders of claims
against the Debtors (a) derived from or based upon the Tranche B
Term Loans and Incremental Term Loans under that certain Credit
Agreement, dated as of May 7, 2010, and (b) derived from or based
upon notes issued under that certain Indenture, as amended or
supplemented from time to time, dated May 7, 2010.

Prior to the filing of the Chapter 11 cases of the Debtors, certain
members of the Consenting Cross-Over Committee formed the group to
engage the Debtors in discussions regarding a potential
restructuring of the Debtors' debt obligations.  The Consenting
Cross-Over Committee retained Weil Gotshal to advance that goal
and, shortly before the Debtors commenced cases under Chapter 11,
engaged Morris Nichols to serve as its Delaware counsel.

The Consenting Cross-Over Committee members and the nature and
amount of their disclosable economic interests in the Debtors as of
May 20, 2016, are:

      (i) Certain funds or accounts managed, advised, or
          sub-advised by GSO Capital Partners LP
          345 Park Avenue
          New York, NY 10154
          Prepetition Credit Agreement: $42,412,161.16
          Prepetition Second Lien Notes: $55,650,000.00
          DIP Credit Agreement: $3,151,579.61
          
     (ii) Certain funds and accounts managed and advised
          by MidOcean Credit Fund Management, LP
          320 Park Avenue
          Suite 1600
          New York, NY 10022
          Prepetition Credit Agreement: $15,620,563.90
          Prepetition Second Lien Notes: $36,465,000.00
          DIP Credit Agreement: $1,514,058.87

    (iii) Certain funds or accounts managed, advised, or
          sub-advised by Guggenheim Partners Investment
          Management, LLC, or its affiliates
          330 Madison Avenue
          10th Floor
          New York, NY 10017
          Prepetition Credit Agreement: $18,688,663.60
          Prepetition Second Lien Notes: $42,414,000.00
          DIP Credit Agreement: $1,057,503.84

     (iv) Certain funds and/or accounts managed by J.P.
          Morgan Investment Management Inc.
          1 East Ohio St.
          14th Floor
          Indianapolis, IN 46204
          Prepetition Credit Agreement: $5,500,000.00
          Prepetition Second Lien Notes: $10,055,000.00

As of the date of this statement, Weil Gotshal and Morris Nichols
represent only the Ad Hoc Group, and do not represent or purport to
represent any other entities with respect to the Debtors' Chapter
11 cases.  In addition, each member of the Consenting Cross-Over
Committee is acting for its own interest, and does not purport to
act, represent, or speak on behalf of any other entities, including
other affiliated entities that may hold claims against the Debtors,
in connection with the Debtors' Chapter 11 cases.

The members of the Consenting Cross-Over Committee hold disclosable
economic interests or act as investment advisors, sub-advisors, or
managers to certain funds or accounts that hold disclosable
economic interests, in relation to the Debtors.  Collectively,
members of the Consenting Cross-Over Committee hold $20,555,347.17
in face amount of debt under the Prepetition Credit Agreement and
hold $36,146,000.00 in face amount of debt under
the Prepetition Second Lien Notes.  In addition, certain members of
the Consenting Cross-Over Committee are also creditors under the
Debtor-in-Possession Credit Agreement dated as of March 21, 2016
and approved by the Court on a final basis on April 4, 2016.
Collectively, members of the Consenting Cross-Over Committee hold
$5,723,142.32 in commitments under the Debtor-in-Possession Credit
Agreement.

Morris Nichols can be reached at:

          MORRIS, NICHOLS, ARSHT & TUNNELL LLP
          Wilmington, Delaware
          Erin R. Fay, Esq.
          Robert J. Dehney, Esq.
          1201 North Market Street, 16th Floor
          P.O. Box 1347
          Wilmington, DE 19899-1347
          Tel: (302) 658-9200
          Fax: (302) 658-3989
          E-mail: efay@mnat.com
                  rdehney@mnat.com

Weil Gotshal can be reached at:

          WEIL, GOTSHAL & MANGES LLP
          Stephen Karotkin, Esq.
          Matthew S. Barr, Esq.
          767 Fifth Avenue
          New York, New York 10153
          Tel.: (212) 310-8000
          Fax: (212) 310-8007
          E-mail: stephen.karotkin@weil.com
                  matt.barr@weil.com

                   About Aspect Software Parent

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.
Lead Case No. 16-10597) on March 9, 2016.  Robert Krakauer signed
the petitions as executive vice president and chief financial
officer.

The Debtors are represented by Domenic E. Pacitti, Esq., and
Michael W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg
LLP,
in Wilmington, Delaware; Morton Branzburg, Esq., at Klehr Harrison
Harvey Branzburg LLP, in Philadelphia, Pennsylvania; and Joshua A.
Sussberg, P.C., Esq., and Aparna Yenamandra, Esq., at Kirkland &
Ellis LLP, in New York; and James H.M. Sprayregen, P.C., Esq., and
William A. Guerrieri, Esq., at Kirkland & Ellis LLP, in Chicago,
Illinois.  The Debtors also tapped Alix Partners, LLP as financial
advisor, Jefferies LLC as investment banker and Prime Clerk LLC as
claims, notice, and balloting agent.

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: Young & Paul Weiss Represent Steering Committee
----------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the ad hoc committee of certain unaffiliated holders of loans or
other indebtedness issued under (i) that certain Credit Agreement,
dated as of May 7, 2010, by and among Aspect Software Parent, Inc.,
Aspect Software, Inc., Davox International Holdings, LLC,
VoiceObjects Holdings Inc., Voxeo Plaza Ten, LLC, the lenders party
thereto, and Wilmington Trust, National Association as successor
Administrative Agent and (ii) that certain Debtor-in-Possession
Credit Agreement, dated as of March 21, 2016, by and among Aspect
Software Parent, Inc., Aspect Software, Inc., Davox
International Holdings, LLC, VoiceObjects Holdings Inc., Voxeo
Plaza Ten, LLC, the Lenders party thereto, and Wilmington Trust,
National Association as Administrative Agent, submit a verified
statement, saying that it has hired Paul, Weiss, Rifkind, Wharton &
Garrison LLP and Young Conaway Stargatt & Taylor, LLP, as counsel.

In December 2015, certain members of the First Lien Steering
Committee retained Paul Weiss to represent them in connection with
a potential restructuring involving the Debtors.  From time to time
thereafter, certain additional holders of First Lien Credit
Agreement Claims joined the First Lien Steering Committee.  In
February 2016, the members of the First Lien Steering Committee
retained Young Conaway as its Delaware counsel.

The Counsel represents only the members of the First Lien Steering
Committee in their respective capacities as holders of First Lien
Credit Agreement Claims and DIP Facility Claims, as applicable, and
does not represent or purport to represent any other entities with
respect to the Debtors' Chapter 11 cases.  In addition, each
member of the First Lien Steering Committee does not purport to
act, represent or speak on behalf of any other entity in connection
with the Debtors' Chapter 11 cases.

The members of the First Lien Steering Committee are either the
beneficial holders of, or the investment advisors or managers to,
funds and accounts that hold disclosable economic interests in
relation to the Debtors.  In accordance with Bankruptcy Rule
2019, and based upon information provided to Counsel by each member
of the First Lien Steering Committee, a copy of the list of the
names, addresses and nature and amount of each disclosable economic
interest of each present member of the First Lien Steering
Committee as of May 17, 2016, is available for free at:

     http://bankrupt.com/misc/ASPECTSOFTWARE_340_rule2014.pdf

Young Conaway can be reached at:

         YOUNG CONAWAY STARGATT & TAYLOR LLP
         Pauline K. Morgan, Esq.
         Jaime Luton Chapman, Esq.
         Andrew L. Magaziner, Esq.
         1000 North King Street
         Wilmington, Delaware 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253
         E-mail: pmorgan@ycst.com
                 jchapman@ycst.com
                 amagaziner@ycst.com

Paul Weiss can be reached at:

         PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
         Alan W. Kornberg, Esq.
         Jacob A. Adlerstein, Esq.
         Michael S. Rudnick, Esq.
         1285 Avenue of the Americas
         New York, New York 10019-6064
         Tel: (212) 373-3000
         Fax: (212) 757-3990
         E-mail: akornberg@paulweiss.com
                 jadlerstein@paulweiss.com
                 mrudnick@paulweiss.com

                   About Aspect Software Parent

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.
Lead Case No. 16-10597) on March 9, 2016.  Robert Krakauer signed
the petitions as executive vice president and chief financial
officer.

The Debtors are represented by Domenic E. Pacitti, Esq., and
Michael W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg
LLP,
in Wilmington, Delaware; Morton Branzburg, Esq., at Klehr Harrison
Harvey Branzburg LLP, in Philadelphia, Pennsylvania; and Joshua A.
Sussberg, P.C., Esq., and Aparna Yenamandra, Esq., at Kirkland &
Ellis LLP, in New York; and James H.M. Sprayregen, P.C., Esq., and
William A. Guerrieri, Esq., at Kirkland & Ellis LLP, in Chicago,
Illinois.  The Debtors also tapped Alix Partners, LLP as financial
advisor, Jefferies LLC as investment banker and Prime Clerk LLC as
claims, notice, and balloting agent.

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.


BIND THERAPEUTICS: Reaches Deal with Hercules on Cash Collateral
----------------------------------------------------------------
BIND Therapeutics, Inc., a biotechnology company developing
targeted and programmable therapeutics called ACCURINS(R), on May
19 announced an agreement has been reached with its secured lender
Hercules Technology III, L.P., an affiliate of Hercules Capital,
for the use of cash collateral through July 8, 2016 subject to
certain agreed upon terms and conditions.  As part of the agreement
negotiated under BIND's voluntary chapter 11 filing, the Company
has agreed, among other things, to pay-down $4 million in principal
on the existing principal loan balance of approximately $12.4
million.

"I am pleased that we were able to reach a mutual agreement with
Hercules Capital that enables BIND to continue operations and
continue exploring financial and strategic alternatives" said
Andrew Hirsch, BIND's president and chief executive officer. "Since
our restructuring on April 6th, we have been actively evaluating
avenues to raise additional capital, including through the capital
markets, a strategic collaboration with one or more parties, or the
license, sale or divestiture of some of our proprietary
technologies, including a sale of the company.  We appreciate
Hercules' continued willingness to work in partnership towards a
mutually acceptable agreement which culminated in today's
agreement."

"BIND Therapeutics has been a portfolio company of Hercules since
2010," said Scott Bluestein, Hercules Chief Investment Officer.
"Over the last several weeks, both pre and post petition, we worked
tirelessly towards a resolution that would be mutually acceptable
and allow the Company to drive towards its stated goal of exploring
strategic alternatives following its April 6th announcement.  We
are thankful that the parties were able to reach agreement and look
forward to what we hope to be the successful conclusion to the
strategic process that is now underway."

Documents related to the chapter 11 filing can be accessed at
www.primeclerk.com/BIND

                   About Hercules Capital, Inc.

Hercules Capital, Inc. (HTGC) ("Hercules") -- http://www.htgc.com
-- is a specialty finance company focused on providing senior
secured venture growth loans to high-growth, innovative companies
in a broadly diversified variety of technology, life sciences and
sustainable and renewable technology industries.  Since inception
(December 2003), Hercules has committed $5.9 billion to over 350
companies and is the lender of choice for entrepreneurs and firms
seeking growth capital financing.

                      About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.
BIND'S product candidates are based on proprietary polymeric
nanoparticles called ACCURINS(R), which are engineered to target
specific cells and tissues in the body at sites of disease.  BIND
is developing ACCURINS(R) with three different therapeutic
objectives, both through internal research programs and with
collaborators: Innovative medicines; enabling potent pathway
inhibitors; and differentiated efficacy with approved drugs.
BIND's internal discovery efforts are focused on designing
Oligonucleotide and immune-oncology-based ACCURINS(R).

BIND Therapeutics on May 2 disclosed that it has elected to file a
voluntary petition under Chapter 11 of the Bankruptcy Code in the
U.S. Bankruptcy Court for the District of Delaware.


BLUE DOG AT 399: Taps Seyfarth Shaw as Special Litigation Counsel
-----------------------------------------------------------------
Blue Dog at 399 Inc. asks for permission from the U.S. Bankruptcy
Court for the Southern District of New York to employ Seyfarth Shaw
LLP as special litigation counsel nunc pro tunc to the application
date, May 18, 2016.

As special litigation counsel, the Firm will represent the Debtor
in prosecuting an adversary proceeding and in other related
litigation matters as may be assigned by the Debtor.  

The Debtor, as commercial tenant, entered into a lease agreement,
dated Jan. 1, 2012, with landlord BP 399 Park Avenue LLC for the
premises leased to Debtor, a portion of the ground floor and
basement level C of the building located at 399 Park Avenue, New
York, New York.  The Lease term is for ten years and not due to
expire until the year 2022.  After the Debtor spent over two years
and over $1.6 million carrying out the renovations and build-out at
the Premises necessary to open and operate the cafe, and more than
$500,000 paying rent on the Premises, the Landlord wrongfully
evicted and dispossessed Debtor of the Premises.  The Debtor
asserts these actions were wrongful, invalid and in breach of
Landlord's obligations under the Lease.  As a result of these
actions, the Debtor was unable to open or operate its business and
was compelled to file for Chapter 11 bankruptcy protection.

The Debtor then filed the Complaint and commenced the adversary
proceeding against Landlord on April 17, 2015, asserting four
claims for relief: (1) a declaratory judgment declaring and
adjudging that the Lease is in full force and effect, that the
Debtor is the tenant thereunder, and that the Debtor should have
rightful possession of the Premises thereunder; (2) damages for
wrongful eviction; (3) preliminary and permanent injunctions
restoring the Debtor to rightful possession and occupancy of the
Premises pursuant to the Lease; and (4) damages for breaches of the
Lease and the Stipulations and of implied covenants of good faith
and fair dealing.

In the Adversary Proceeding, the Debtor will be represented
principally by:

      Adrian Zuckerman, Esq., Member     $905
      Jonathan Wolfert, Esq., Member     $880
      Ralph Berm, Counsel to the Firm    $765
      Edward Fox, Partner                $1,060

The Firm anticipates that other attorneys will assist the lawyers
on an as-needed basis.  The hourly fees charged by the firm are:

      Partners                     $705-$1,060
      Counsel                      $640-$765
      Associates                   $400-$510
      Paralegals                   $165-$270

Elizaeth Slavutsky, the principal of the Debtor, tells the Court
that she has agreed to pay a total of $25,000 in personal funds as
a third-party retainer to the Firm for costs and expenses to be
incurred on behalf of the Debtor in the Chapter 11 case pursuant to
the retention agreement.

Adrian Zuckerman, Esq., a member at the Firm, assures the Court
that the Firm is a "disinterested person," as that term is defined
in Section 101(14) of the Bankruptcy Code, as modified by Section
1107(b) of the Bankruptcy Code, and as permitted by Section 327(c)
of the Bankruptcy Code.

The Firm can be reached at:

      Adrian Zuckerman, Esq.
      Jonathan Wolfert, Esq.
      SEYFARTH SHAW LLP
      620 Eighth Avenue
      New York, New York 10018-1405
      Tel: (212) 218-3395
      E-mail: azuckerman@seyfarth.com
              jwolfert@seyfarth.com

                       About Blue Dog at 399

Blue Dog at 399 Inc. filed a Chapter 11 petition (Bankr. S.D.N.Y.
Case No. 15-10694) on March 24, 2015.  Hon. Michael E. Wiles
presides over the case.  In its petition, the Debtor estimated $1
million to $10 million in both assets and liabilities.  The
petition was signed by Elizabeth Slavutsky, sole director and
shareholder.

Paul R. DeFilippo, Esq., and John D. Giampolo, Esq., at Wollmuth
Maher & Deutsch LLP serves as the Debtor's counsel.

Landlord BP 399 Park Avenue LLC is represented by Menachem J.
Kastner, Esq., and Frederick E. Schmidt, Jr., Esq., at Cozen
O'Connor, PC.


BROOKE CORP: DZ Bank Awarded $450K in Suit vs. Connect Insurance
----------------------------------------------------------------
In the case captioned DZ BANK AG DEUTSCHE
ZENTRAL-GENOSSENSCHAFTSBANK, Plaintiff, v. CONNECT INSURANCE
AGENCY, INC., Defendant, Case No. C14-5880JLR (W.D. Wash.), Judge
James L. Robart of the United States District Court for the Western
District of Washington, Seattle, awarded judgment in favor of DZ
Bank in the amount of $450,000, plus prejudgment interest.

A full-text copy of Judge Robart's May 9, 2016 findings of fact and
conclusions of law is available at https://is.gd/OQUKKc from
Leagle.com.

On June 16, 2015, the court dismissed the defendant Connect
Insurance Agency, Inc.'s counterclaims with prejudice.  On February
16, 2016, the court entered partial summary judgment in favor of
the plaintiff, DZ Bank AG Deutsche Zentral-Genossenschaftsbank.
The parties tried the remaining issues on March 7-8, 2016, before
the court sitting without a jury.  At trial, Connect was
represented by Marc S. Stern and Susan L. Fullmer, and DZ Bank was
represented by Alex Darcy of Askounis & Darcy, PC, and Michael W.
Johns of Roberts Johns & Hemphill, PLLC.

Judge Robart awarded judgment in favor of DZ Bank in the amount of
$450,000.00, plus prejudgment interest.  The judge also  directed
DZ Bank to prepare, serve, and file a proposed form of judgment,
including a calculation of the appropriate statutory rate of
prejudgment interest, within seven days of the date of the order.

DZ Bank Ag Deutsche Zentral-Genossenschaftsbank is represented by:

          Allison E Kahrnoff, Esq.
          David Alexander Darcy, Esq.
          ASKOUNIS & DARCY, PC
          444 North Michigan Avenue, Suite 3270
          Chicago, IL 60611
          Tel: (312)784-2400
          Fax: (312)784-2410
          Email: akahrnoff@askounisdarcy.com
                 adarcy@askounisdarcy.com

            -- and --

          Michael W Johns, Esq.
          ROBERTS JOHNS & HEMPHILL PLLC
          7325 Pioneer Way, Suite 202
          Gig Harbor, WA 98335
          Tel: (253)858-8606

Connect Insurance Agency Inc is represented by:

          Susan L Fullmer, Esq.
          SUSAN L FULLMER
          1825 NW 65th St
          Seattle, WA 98117
          Tel: (206)567-2757

            -- and –

          Marc S Stern, Esq.
          1825 NW 65th Street
          Seattle, WA 98117
          Tel: (206)448-7996
          Fax: (206)297-8778
          Email: office@hutzbah.com

                    About Brooke Corp.

Based in Kansas, Brooke Corp. -- http://www.brookebanker.com/--   
was an insurance agency and finance company.  The company owned
81% of Brooke Capital.  The majority of the company's stock was
owned by Brooke Holding Inc., which, in turn was owned by the Orr
Family.  A creditor of the family, First United Bank of Chicago,
foreclosed on the BHI stock.  The company's revenues were
generated from sales commissions on the sales of property and
casualty insurance policies, consulting, lending and brokerage
services.

Brooke Corp. and Brooke Capital Corp. filed separate petitions for
Chapter 11 relief on Oct. 28, 2008; Brooke Investments, Inc. filed
for Chapter 11 relief on Nov. 3, 2008 (Bankr. D. Kan. Lead Case
No. 08-22786).  Angela R. Markley, Esq., was the Debtors' in-house
counsel.  Albert Riederer was appointed as the Debtors' Chapter 11
trustee.  He acted as special master of Brooke in prepetition
federal court proceedings.  Benjamin F. Mann, Esq., John J.
Cruciani, Esq., and Michael D. Fielding, Esq,, at Husch Blackwell
Sanders LLP, and Kathryn B. Bussing, Esq., at Blackwell Sanders
LLP, represented the Chapter 11 trustee as counsel.  David A.
Abadir, Esq., and Robert J. Feinstein, Esq., at Pachulski Stang
Ziehl & Jones LLP, Kristen F. Trainor, Esq., and Mark Moedritzer,
Esq., at Shook, Hardy & Bacon, represented the Official Committee
of Unsecured Creditors as counsel.  The Debtors disclosed assets
of $512,855,000 and debts of $447,382,000.

On Oct. 29, 2008, the Court granted a motion to jointly administer
the bankruptcies of Brooke Corporation, Brooke Capital, and Brooke
Investment with the Brooke Corporation bankruptcy case being the
lead case.

The case was converted to Chapter 7 on June 29, 2009.  Christopher
J. Redmond was named Chapter 7 Trustee.  He is represented by
Benjamin F. Mann, Esq., John J. Cruciani, Esq., and Michael D.
Fielding, Esq., at Husch Blackwell LLP.


BULOVA TECHNOLOGIES: Delays Filing of March 31 Form 10-Q
--------------------------------------------------------
Bulova Technologies Group, Inc., filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with
respect to its quarterly report on Form 10-Q for the quarter ended
March 31, 2016.    

"The compilation, dissemination and review of the information
required to be presented in the Form 10-Q for the quarter ending
March 31, 2016 could not be completed and filed by May 16, 2016,
without undue hardship and expense to the registrant.  The
registrant anticipates that it will file its Form 10-Q for the
quarter ended March 31, 2016 within the "grace" period provided by
Securities Exchange Act Rule 12b-25."

                          About Bulova

Bulova Technologies Group, Inc. was originally incorporated in
Wyoming in 1979 as "Tyrex Oil Company".  During 2007, the Company
divested itself of all assets and previous operations.  During
2008, the Company filed for domestication to the State of Florida,
and changed its name to Bulova Technologies Group, Inc. and changed
its fiscal year from June 30 to September 30.

Bulova reported a net loss of $5.26 million for the year ended
Sept. 30, 2015, compared to a net loss of $3.76 million for the
year ended Sept. 30, 2014.  As of Sept. 30, 2015, Bulova had $1.64
million in total assets, $17.46 million in total liabilities and a
$15.81 million shareholders' deficit.


BURCON NUTRASCIENCE: Charles Chan Kwok Keung Reports 22.4% Stake
----------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Charles Chan Kwok Keung disclosed that as of May 12,
2016, he beneficially owns 8,175,003 common shares of Burcon
NutraScience Corporation representing 22.4 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at https://is.gd/0keKvm

                     About Burcon NutraScience        

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

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

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

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


CAAMM PROPERTIES: Hires Barruso as Accountant & Financial Advisor
-----------------------------------------------------------------
CAAMM Properties, LLC, and Fair Haven Clam & Lobster Co., LLC, seek
authorization from the U.S. Bankruptcy Court for the District of
Connecticut to employ Barruso & Company, P.C., as accountant and
financial advisor.

Barruso will:

      a. prepare all appropriate federal and state income tax
         returns, informational returns, and any other returns,
         schedules, or documents which are necessary or
         appropriate for the Debtor to file with the various
         taxing authorities.  Included in this category is not
         only post-petition returns, but also the 2015 retruns
         which are on extension due to a theft of Debtor's
         computer and records in August 2015;

      b. review the Debtor's records to the extent necessary to
         prepare the various returns, schedules, and other
         supporting documents;

      c. advise the Debtor on issues of federal and state tax
         compliance, assist in negotiations with federal and state

         tax authorities and prepare any documents in support of
         negotiations; and

      d. assist the Debtor in preparation of any additional
         required reports and financial analysis, including to the

         extent necessary monthly operating reports and financial
         analysis in connection with plans of reorganization.

Borruso will be paid $275 per hour for its services, and the firm
has estimated that the time required for the services is 23 hours.

Borruso holds a pre-petition claim for services which will be
waived should the Court authorize the firm's employment.

Ronald Borruso, the principal at Borruso, tells the Court that the
Firm has a pre-petition balance of $11,275 with the Debtor for
services and costs arising prior to the commencement of the
bankruptcy case.

Mr. Borruso assures the Court that Borruso does not represent any
interest adverse to the Debtor or the estates in the matters upon
which the firm will be engaged to handle for the Debtors, and that
the firm has no connection with the Debtors, creditors, or any
other party in interest, their respective attorneys and
accountants, the U.S. Trustee, or any person employed by the Office
of the U.S. Trustee.

CAAMM Properties, LLC, and Fair Haven Clam & Lobster Co., LLC, are
involved in the business of shellfishing and cultivating and
harvesting shellfish.  FHC&L owns boats and equipment utilized in
the business and CAAMM owns real estate where tanks and sorters and
refrigeration equipment are housed and where docks affixed to the
real estate provide moorage for the fishing vessels.  The two
companies are owned 100% by the same sole member, Michael Fraenza.

Headquartered in New Haven, Connecticut, CAAMM Properties, LLC,
filed for Chapter 11 bankruptcy protection (Bankr. D. Conn. Case
No. 16-30622) on April 22, 2016, estimating its assets at between
$500,000 and $1 million and its liabilities at between $1 million
and $10 million.  The petition was signed by Michael Fraenza,
member.

Judge Julie A. Manning presides over the case.

Carl T. Gulliver, Esq., at Coan, Lewendon, Gulliver & Miltenberger
LLC serves as the Debtor's bankruptcy counsel.

Fair Haven Clam & Lobster Co., LLC, also filed on the same date for
Chapter 11 bankruptcy protection (Bankr. D. Conn. Case No.
16-30623).

The Debtors have filed a motion for joint administration of the
bankruptcy estates.


CAPE COD COMMERCIAL: Hires Madoff & Khoury as Bankr. Counsel
------------------------------------------------------------
Cape Cod Commercial Linen Service, Inc., seeks permission from the
U.S. Bankruptcy Court for the District of Massachusetts to employ
Madoff & Khoury LLP as counsel under a general retainer.

Cape Cod Commercial Linen Service, Inc., (CCCLS) operating a
commercial laundry facility in 880 Attucks Lane Hyannis,
Massachusetts servicing a large portion of the resorts, hotels,
restaurants and inns on the Cape.  CCCLS's financial difficulties
stem from the 2012 expansion at the Attucks facility. In addition
to moving to new location, CCCLS purchased a new-state-of-the art
washing system at a cost of approximately $2 million. Delays in
getting the new system running resulted in significant cost
overruns.

Over the years, the Debtors entered into several loan transactions
with Cape Cod Five Cents Savings Bank.  On November 25, 2013, the
Bank sent written notifications to the Debtors that they were in
default under the Loans Agreements.  The Bank commenced an action
against, among others, the Debtors seeking the appointment of a
state court receiver, the Debtors did not oppose. The Debtors
continued to operate the business under the supervision and with
the assistance of the Receiver.

The Debtors significantly improved their financial position. In
order to complete the Debtor's turnaround through a Chapter aa
proceeding, the Bank, the Debtor and the Receiver agreed to dismiss
the Receivership Action.

Debtor has retained the Madoff & Khoury as its counsel in
connection with this case because of the substantial experience of
the firm's partners in representing debtors in Chapter 11
proceedings, and because the reasonable rates charged by the firm
are commensurate with the size of the case.

David B. Madoff of Madoff & Khoury 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.

Madoff & Khoury can be reached at:

         David B. Madoff, Esq.
         124 Washington Street
         Foxboro, MA 02035
         Tel: 508-543-0040
         Fax: 508-543-0020
         E-mail: madoff@mandkllp.com

Cape Cod Commercial Linen Service, Inc., based in Hyannis,
Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case
No. 16-11811) on May 13, 2016.  Hon. Joan N. Feeney presides over
the case.  David B. Madoff, Esq., and Steffani Pelton Nicholson,
Esq., at Madoff & Khoury LLP, serves as counsel to Cape Code
Commercial.   The Debtor's financial advisor is Bruce A. Erickson
of B. Erickson Group, LLC.  In its petition, the Debtor listed
total assets of $1.24 million and liabilities of $4.62 million.
The petition was signed by Jeffrey Ehart, president.

This Is It, LLC, based in Hyannis, Mass., filed a Chapter 11
petition (Bankr. D. Mass. Case No. 16-11813) on May 13, 2016.  Hon.
Joan N. Feeney presides over the case.  This Is It tapped David B.
Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff &
Khoury LLP, as bankruptcy counsel.  In its petition, This Is It
listed $2.20 million in assets and $3.05 million in liabilities.
The petition was signed by Jeffrey Ehart, president/manager.

This Is It and CCCLS have asked the Court to have their Chapter 11
cases jointly administered.


CAR PARTS DEPOT: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Car Parts Depot, Inc.
        2680 Pellissier Place
        City of Industry, CA 90601

Case No.: 16-16693

Chapter 11 Petition Date: May 20, 2016

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

Judge: Hon. Deborah J. Saltzman

Debtor's Counsel: Carlo Reyes, Esq.
                  CARLO REYES, ESQ.
                  7800 Sausalito Ave
                  West Hills, CA 91304
                  Tel: 818-922-5960
                  Fax: 818-337-2483
                  E-mail: carloreyes@att.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Tak Wong, president/CEO.

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


CARDIAC SCIENCE: U.S. Trustee Amends Committee Membership
---------------------------------------------------------
The Office of the U.S. Trustee on May 19 filed an amended notice of
appointment of the official committee of unsecured creditors of CS
Estate Inc., formerly known as Cardiac Science Corp.

The Justice Department's bankruptcy watchdog announced that it
appointed these creditors to serve on the committee:

     (1) Commercial Collection Consultants
         Phillip Carnes
         2305 Ridge Road, #201
         Rockwall, TX 75207
         Phone: 972-552-5117
         pcarnes@ccc-worldwide.com

     (2) MIR- Medical International Research
         Roberta Di Pinto
         Via del Maggiolino, 125-00155
         Rome, ITALY
         Phone: 39 06 22754 777
         roberta.d@spirometry.com

     (3) Modern Metal Products
         David C. Pfieffer
         1200 12th Ave. NW
         P.O. Box 247
         Owatonna, MN 55060
         Phone: 507-451-7115
         Fax: 507-451-0882
         davep@mmpmodernmetal.com

     (4) Monte Villa Farms, LLC
         Robert E. Hibbs
         3301 Monte Villa Parkway, Ste 101
         Bothell, WA 98021
         Phone: 425-489-9899
         rhibbs@montevillallc.com

     (5) Pitek Design, LLC
         Jill Pitek
         5737 River Road
         Rhinelander, WI 54501
         Phone: 715-277-3159
         jpitek@pitekdesign.com

     (6) Shell Case Limited
         Yuval Spector
         4B, 12 Shipyard Lane
         Quarry Bay, Hong Kong
         Phone: 972-54-4452200
         Fax: 972-72-2740072
         yuval@shell-case.com

     (7) Spectrum Training
         Derek McNaught
         16 East Mayfield
         Edinburgh, EH9 1SE
         Scotland, UK
         Phone: 0044131667 5549
         derek@spectrum-training.co.uk.

                      About Cardiac Science

Headquartered in Waukesha, Wisconsin, Cardiac Science Corporation
develops, manufactures and sells a variety of advanced diagnostic
and therapeutic cardiology devices and systems, including automated
external efibrillators, hospital defibrillators and related
products and consumables.

Cardiac Science filed Chapter 11 bankruptcy petition (Bankr. W.D.
Wis. Case No. 15-13766) on Oct. 20, 2015.  The petition was signed
by Michael Kang as chief restructuring officer.

Judge Robert D. Martin presides over the case.

The Debtor disclosed total assets of $45,335,596 plus an
undetermined amount and $104,715,678 plus an undetermined amount as
of the Chapter 11 filing.  Celestica Electronics (M) SDN BHD is the
Debtor's largest unsecured creditor holding a claim of $2.5
million.  CFS 915 LLC is the largest creditor of the Debtor, and
its $87 million prepetition loan is secured by substantially all of
the Debtor's assets.  CFS has agreed to provide $10 million in
postpetition financing for the Debtor.

The Debtor has engaged Whyte Hirschboeck Dudek S.C. as bankruptcy
counsel, Livingstone Partners LLC as investment banker and Garden
City Group, LLC as notice and claims agent.

In October 2015, the Office of the U.S. Trustee appointed seven
creditors to the official committee of unsecured creditors.  The
committee is represented by Freeborn & Peters LLP.

                             *     *      *

The Debtor on Jan. 8, 2016 won approval from the Bankruptcy Court
to sell substantially all of its assets to CFS 915 LLC.  The sale
closed on Jan. 25.  As required by the parties Asset Purchase
Agreement, the Debtor changed its name from "Cardiac Science
Corporation" to "CS Estate, Inc."  The Debtor filed a corresponding
motion to amend the case caption to reflect the name change.


CARLMAC-MCKINNON'S: Exclusive Plan Filing Extended to Sept. 16
--------------------------------------------------------------
An endorsed order was entered on May 19, 2016, extending
Carlmac-McKinnon's, Inc.'s exclusive period for filing and
solicitation of the Plan of Reorganization to Sept. 16, 2016, from
May 20, 2016.

As reported by the Troubled Company Reporter on May 20, 2016, the
Debtor asked the U.S. Bankruptcy Court for the District of
Massachusetts to extend the exclusive period so as to give
sufficient time to determine if a sale or a restructuring of the
debt is the most appropriate course of action for a Plan which is
in the best interest of creditors.

Carlmac-McKinnon's, Inc., owns and operates a retail meat market
and grocery store located in Somerville, Massachusetts, from which
it generates its revenues.

It filed for Chapter 11 bankruptcy protection (Bankr. D. Mass. Case
No. 15-14530) on Nov. 23, 2015.  Nina M. Parker, Esq., at Parker &
Associates serves as the Debtor's bankruptcy counsel.


CATASYS INC: Reports First Quarter 2016 Financial Results
---------------------------------------------------------
Catasys, Inc., reported a net loss of $4.29 million on $728,000 of
revenues for the three months ended March 31, 2016, compared to a
net loss of $260,000 on $433,000 of revenues for the same period in
2015.

General and administrative expenses were $2.2 million for the first
quarter of 2016, a decrease of 20% compared to $2.7 million for the
first quarter of 2015.  This decrease was primarily due to a
decrease in share-based compensation expense related to stock
options issued to the board of directors during the first quarter
of 2015.

Total operating expenses were $3.2 million for the first quarter of
2016, compared to $3.2 million for the first quarter of 2015. The
higher cost of healthcare services based on increasing enrollment
and launching new programs were off-set in the first quarter of
2016 by a decrease in general and administrative expenses.

As of March 31, 2016, Catasys had $2.06 million in total assets,
$14.91 million in total liabilities and a total stockholders'
deficit of $12.84 million.

"Enrollment in our OnTrak solution increased by more than 175% in
the first quarter of 2016 as we continue to ramp programs for
several of our health plan partners.  While enrollment is still in
the initial stages for many of these states, we are now operating
programs in 13 states," said Rick Anderson, Catasys' president and
COO.  "We expect to continue to see enrollment increase throughout
2016, and expect to add additional states and contracts throughout
the year."

The Company added approximately 2.7 million Equivalent Lives in the
fourth quarter of 2015, and approximately 2.5 million Equivalent
Lives in the first quarter of 2016.  Generally following an up to
ninety day implementation, it takes approximately 12 months to
scale to full enrollment.  Thus, Equivalent Lives added in the
fourth quarter of 2015 will not be fully implemented until the end
of 2016.

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

                    https://is.gd/aJGf7J

                     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.

Catasys reported 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.

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.


CCH I: S&P Assigns 'BB+' Corp. Credit Rating, Outlook Stable
------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' corporate credit rating to
CCH I LLC (new Charter).  The rating outlook is stable.  At the
same time, S&P discontinued its 'BB-' corporate credit rating on
Charter Communications Inc. and S&P's 'BBB' corporate credit rating
on Time Warner Cable Inc., as both entities no longer exist under
the post-transaction organization structure.

In addition, S&P took a number of rating actions on the company's
secured and unsecured debt, as:

   -- S&P raised its issue-level ratings on existing senior
      secured debt at Charter Communications Operating LLC (CCO)
      to 'BBB' from 'BB+', and removed this debt from CreditWatch
      with positive implications.  The '1' recovery rating
      indicates S&P's expectation for very high (90%-100%)
      recovery for lenders in the event of a payment default.

   -- S&P raised its issue-level ratings on senior secured debt at

      CCO Safari II LLC and CCO Safari III LLC to 'BBB' from
      'BBB-' and removed this debt from CreditWatch where S&P
      placed them with positive implications on March 31, 2015.
      The '1' recovery rating indicates S&P's expectation for very

      high (90%-100%) recovery for lenders in the event of a
      payment default.  This debt has been merged into and assumed

      by CCO with completion of the transaction.

   -- S&P raised its issue-level ratings on unsecured debt at CCO
      Holdings LLC (CCOH) to 'BB+' from 'BB-', and removed this
      debt from CreditWatch where it was placed with positive
      implications on March 31, 2015.  The '4' recovery indicates
      S&P's expectation for average (30%-50%; upper end of range)
      recovery for noteholders in the event of a payment default.

   -- S&P raised its issue-level ratings on unsecured notes at
      CCOH Safari, LLC to 'BB+' from 'BB' and removed this debt
      from CreditWatch with positive implications.  The recovery
      rating is also '4' (higher end of average [30%-50%]
      recovery).  This debt has been merged into and assumed by
      CCOH with the transaction's completion.

   -- S&P affirmed its 'BBB' issue-level rating on senior notes at

      Time Warner Cable Inc. and subsidiaries and assigned a '1'
      recovery rating to this debt.  The debt at Time Warner Cable

      Inc. will be assumed by NewCo.  The company has granted
      security to TWC's existing debt on an equal and ratable
      basis with secured debt at CCO.

"The 'BB+' corporate credit rating on new Charter reflects the
company's significantly increased scale and geographic reach
following the close of the TWC and BHN acquisitions, along with our
expectation that adjusted leverage will remain below 5x on a
sustained basis," said S&P Global Ratings credit analyst Michael
Altberg.

The stable rating outlook reflects S&P's expectation for
mid-single-digit percent revenue growth over the next few years,
with adjusted debt to EBITDA declining to the low-4x area.  The
outlook also incorporates S&P's expectation for no material
integration missteps over the next 12 months, despite the potential
for some initial ARPU pressure as New Charter rolls out its pricing
plans in TWC markets.

S&P could lower the rating if adjusted leverage rises above 5x on a
sustained basis, either due to integration missteps, debt financed
acquisitions, or the adoption of a more aggressive financial
policy.  S&P could also lower the rating if there was an unexpected
deterioration in operating performance, leading to EBITDA margins
declining to the low-30% area on a sustained basis.

An upgrade is unlikely over the next 12 months and would require
the company to reduce and sustain leverage below 4x and FOCF to
debt above 10%.  Given the company's current leverage tolerance,
S&P believes this would require a permanent shift in financial
policy and S&P's expectation that the company would be committed to
lower leverage despite the potential for future acquisitions or
shareholder returns.  Any rating upgrade would also entail a
successful integration of the TWC and BHN assets, and relative
stability in operating performance through the continued growth of
residential broadband and commercial services.


CHG HEALTHCARE: Moody's Affirms B2 Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service affirmed CHG Healthcare Services's B2
Corporate Family Rating and B2-PD Probability of Default Rating.
Additionally, Moody's assigned a B1 rating to the proposed first
lien credit facility, which includes a $75 million revolver and a
$990 million first lien term loan. The ratings outlook is stable.

Proceeds from the above term loan, a $300 million second lien note
(not rated by Moody's) and some cash will be used to pay a $525
million dividend to shareholders and refinance existing debt.
Moody's expects that the ratings on the existing debt will be
withdrawn upon repayment.

Ratings affirmed:

Corporate Family Rating, B2

Probability of Default Rating, B2-PD

Ratings assigned:

Proposed $75 million senior secured first lien revolver due 2021,
B1 (LGD 3)

Proposed $990 million senior secured first lien term loan due 2023,
B1 (LGD 3)

Ratings to be withdrawn upon repayment:

$100 million senior secured first lien revolver due 2017, B2 (LGD
3)

$803 million senior secured first lien term loan due 2019, B2 (LGD
3)

The outlook is stable.

All ratings are subject to Moody's review of final documentation.

RATINGS RATIONALE

"The B2 Corporate Family Rating reflects the company's highly
aggressive financial policies, as demonstrated by three large
dividends in under four years," stated Moody's analyst Todd
Robinson. "Pro forma for the proposed dividend recap transaction,
debt to EBITDA is high for the rating category at 6.5 times, but
Moody's expects rapid deleveraging through strong earnings growth
and some debt repayment," continued Todd Robinson.

The B2 rating is also constrained by the company's small size
compared to other rated staffing companies and its limited business
line diversity. However, the rating is supported by the company's
leading market position and favorable secular demand trends in its
key locum tenens (physician staffing) segment, which Moody's
believes will support continued earnings growth at stable margins.
Furthermore, the company has a good liquidity profile with solid
free cash flow generation.

The stable rating outlook reflects Moody's expectation that the
company will realize mid to high teens organic earnings growth and
positive free cash flow that will be used to repay debt and
deleverage the company to below 6.0 times over the next 12-18
months.

The ratings could be downgraded if CHG undertakes additional
debt-funded dividends, liquidity deteriorates, industry growth
rates materially slow or the supply of locum tenens physicians
declines. Specifically, if Moody's expects debt to EBITDA to be
sustained above 6.5 times or if retained cash flow to debt declines
to under 5%, the rating could be downgraded.

Moody's could upgrade the ratings if CHG demonstrates a commitment
to debt repayment such that total debt to EBITDA is expected to be
maintained below 5 times. Moody's would also want the company to
maintain its strong organic earnings growth and a good liquidity
profile with growing levels of free cash flow.

CHG is a provider of temporary healthcare staffing services to
hospitals, physician practices and other healthcare settings in the
United States. CHG derives the majority of its revenues from locum
tenens staffing and additionally provides travel nurse, allied
health, and permanent placement services. Leonard Green & Partners
and Ares Management acquired CHG in November 2012. CHG reported
$1.2 billion of revenue for the twelve months ended March 31, 2016.


CHIEFTAIN METALS: Enters Into Forbearance Agreement with Lender
---------------------------------------------------------------
On May 10, 2016, Chieftain Metals Corp. ("Chieftain" or "The
Corporation"), its wholly owned subsidiary, Chieftain Metals Inc.
and an investment fund advised by West Face Capital Inc. ("West
Face") entered into a Forbearance Agreement pursuant to which West
Face agreed not to exercise its rights under its security that
became enforceable on March 31, 2016 until August 2, 2016.  In
consideration of the Forbearance Agreement, Chieftain has agreed to
the payment to the lender of $150,000 or 3 million common shares of
the Corporation at the option of West Face.

The continuation of the forbearance arrangement is subject to
certain milestones and conditions including the appointment of a
financial advisor to assist the Corporation's strategic review
process.  Chieftain has appointed Endeavour Financial Limited
(Cayman), a mining finance advisory firm, to assist the Company
with this process.  The completion of a transaction may take longer
than the time specified in the Forbearance Agreement and the
Corporation intends to pursue financing alternatives to allow for
sufficient time for a proper review process.

The objective of the strategic review is to unlock value for all
stakeholders by pursuing alternatives including project financing,
entering into a joint venture with a suitable project partner, sale
of a project interest or other project investment.  The Tulsequah
project is a construction ready, permitted, high grade,
polymetallic project with one of the lowest operating costs and
camp scale exploration potential.

   1. The after-tax project NPV (8%) published in the 2014
feasibility is C$146 million which, at May 17, 2016 spot prices, is
C$127 million and at latest consensus prices is C$227 million.
Excludes streaming to reflect current project situation.  Spot
Prices: Cu US$2.12/lb, Pb US$0.78/lb, Zn US$0.86/lb, Au US$1277/oz,
Ag US$17.31/oz, Fx 0.775

   2. Excludes streaming, prices based on latest editions of Energy
and Metals Consensus Forecast
(Apr 8, 2016) and Foreign Exchange Consensus Forecast (May 9,
2016). Both from Consensus Economics Inc. Consensus Prices: Cu
US$3.04/lb, Pb US$0.90/lb, Zn US$1.04/lb, Au US$1248/oz, Ag
US$18.88/oz, Fx 0.789

Qualified Persons

Keith Boyle, P. Eng., Chief Operating Officer of Chieftain Metals
Corp. and qualified person under NI 43-101 has supervised the
preparation, reviewed and approved the scientific and technical
content of this news release.

                         About Chieftain

Chieftain Metals Corp. is a public holding company, whose principal
business is the acquisition, exploration and development of mineral
properties.  Chieftain's business has focused on the development of
the Tulsequah Chief deposit located in north-western British
Columbia, Canada.  Chieftain's properties consist of 65 mineral
claims and Crown-grants covering approximately 32,722 hectares
including two previously producing mines.


CHIEFTAIN STEEL: U.S. Trustee Forms 3-Member Committee
------------------------------------------------------
The U.S. trustee for Region 8 on May 20 appointed three creditors
of Chieftain Steel, LLC, to serve on the official committee of
unsecured creditors.

The committee members are:

     (1) Delaware Steel Co.
         Representative: Lisa Goldenberg
         535 Pennsylvania Ave.
         Fort Washington, PA 19034
         (215) 654-8285

     (2) Great Lakes Coils
         Representative: Dirk Roskam
         4650 W. US 223
         Adrian, Michigan 49221
         (321) 402-9545

     (3) Straight Steel Co., Inc.
         Representative: Warren Silverman
         25899 West 12 Mile Rd., #150
         Southfield, Michigan 48034
         (248) 356-9620

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.

                     About Chieftain Steel

Chieftain Steel, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Ky. Case No. 16-10407) on May 2, 2016.
The Debtor is represented by Constance G. Grayson, Esq., at
Gullette & Grayson, PSC.


CHINA BAK: Incurs $1.90 Million Net Loss in First Quarter
---------------------------------------------------------
China Bak Battery, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of US$1.90 million on US$3.19 million of net revenues for the three
months ended March 31, 2016, compared to net profit of US$1.06
million on US$3.06 million of net revenues for the same period in
2015.

For the six months ended March 31, 2016, China BAK reported a net
loss of US$4.03 million on US$8.69 million of net revenues compared
to net profit of US$18.45 million on US$6.14 million of net
revenues for the six months ended March 31, 2015.

As of March 31, 2016, China BAK had US$67.54 million in total
assets, US$49.55 million in total liabilities and US$17.98 million
in total shareholders' equity.

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

                    https://is.gd/MxZGGF

                      About China BAK

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

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

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


CHINA GINSENG: Delays Filing of March 31 Form 10-Q
--------------------------------------------------
China Ginseng Holdings, Inc. filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
March 31, 2016.     
     
"The Registrant is currently in the process of completing the
process of compiling and disseminating the information required to
be included in its Form 10-Q interim report for the quarter ended
March 31, 2016, as well as the required review of the Registrant's
financial information.  The Registrant is not able to complete the
process without incurring undue hardship and expense.  The
Registrant will require additional time to complete and file its
Form 10-Q for the quarter ended March 31, 2016 and undertakes the
responsibility to file such annual report no later than fifth
calendar days after its original due date."

                       About China Ginseng

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

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

As of Dec. 31, 2015, China Ginseng had $8.49 million in total
assets, $19.93 million and a total stockholders' deficit of $11.97
million.

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


CINCINNATI BELL: S&P Assigns 'BB-' Rating on $150MM Secured Loan
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '1'
recovery rating to Cincinnati, Ohio-based Cincinnati Bell Inc.'s
$150 million senior secured revolving credit facility due 2020. The
'1' recovery rating indicates S&P's expectation for very high
recovery (90%-100%) of principal for lenders in the event of a
payment default.

The amended and extended revolver replaces the company's $175
million revolver due July 2017.  Similar to the existing revolving
credit facility agreement, Cincinnati Bell is the borrower, and
there will be financial covenants that include a 5.5x total
leverage covenant (with step downs), 3.5x senior secured leverage
covenant (with one step down to 3x), 1.5x minimum interest coverage
ratio, and $300 million maximum annual capital expenditures in
2016.  The step down in the secured leverage covenant and capital
expenditure covenant goes away once full monetization of the
company's remaining stake in CyrusOne Inc.

There is no change to S&P's 'B' corporate credit rating and stable
rating outlook on Cincinnati Bell.

RATINGS LIST

Cincinnati Bell Inc.
Corporate Credit Rating            B/Stable/--

New Ratings

Cincinnati Bell Inc.
Senior Secured
  $150 mil revolving credit facility due 2020    BB-
   Recovery Rating                               1


CLASSIC COMMUNITIES: Seeks to Employ Cunningham as Counsel
----------------------------------------------------------
Classic Communities Corporation asks the Bankruptcy Court for
authority to employ Chernicoff & Warshawsky, P.C., as counsel.

The professional services to be rendered by Cunningham, Chernicoff
& Warshawsky, P.C., include:

   a. to give the Debtor legal advice regarding its powers and
duties as Debtor-in-Possession in the continued operation of its
business and management of its property;

   b. to prepare and file on behalf of the Debtor, as
Debtor-in-Possession, the original Petition and Schedules, and all
necessary applications, complaints, answers, orders, reports and
other legal papers; and

   c. to perform all other legal services for the Debtor, as
Debtor-in-Possession, which may be necessary.

The Debtor will be billed at the firm's standard hourly billing
rates otherwise in effect for comparable work performed by the law
firm, such rates currently being:

         Robert E. Chernicoff             $350
         Partners                    $200 to $300
         Associate Attorneys         $150 to $200
         Paralegals                       $100

Robert E. Chernicoff, Esq., a shareholder of Cunningham, Chernicoff
& Warshawsky, P.C., assures 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 Debtor.

Classic Communities Corporation filed a Chapter 11 bankruptcy
petition (Bankr. M.D. Pa. Case No. 16-02022) on May 10, 2016.  The
petition was signed by Douglas Halbert as President.  The Debtor
estimated assets and liabilities in the range of $10 million and
debts of up to $50 million.  Judge Mary D. France has been assigned
the case.


CLAYTON GENERAL: Wants Exclusive Plan Filing Extended to Jan. 30
----------------------------------------------------------------
Clayton General, Inc., fka Southern Regional Health System, Inc.,
dba Southern Regional Medical Center, et al., ask the U.S.
Bankruptcy Court for the Northern District of Georgia to extend the
deadlines for filing one or more Chapter 11 plan(s) and soliciting
acceptances thereto for an additional 251 days, through and
including Jan. 30, 2017, and March 30, 2017, respectively, from May
25, 2016, and July 25, 2016, respectively, to allow sufficient time
to complete the above-referenced tasks and formulate a plan.

Since the Petition Date, the Debtors sought and obtained authority
to sell substantially all of their assets to Prime Healthcare
Foundation - Southern Regional, LLC.  The Sale closed on or about
Feb. 1, 2016.  The Committee has appealed entry of the Sale order
and such appeal is pending.  The outcome of the appeal may impact
the structure and terms of any plan to be proposed by the Debtors.
Moreover, the Debtors are working to identify and liquidate any
remaining assets as well as evaluate potential causes of action.
The Debtors need additional time to determine the best course of
action to propose one or more Chapter 11 plan(s).

Clayton General, Inc., fka Southern Regional Health System, Inc.,
dba Southern Regional Medical Center, et al., each filed for
Chapter 11 bankruptcy protection on July 30, 2014.  The cases are
jointly administered under Bankr. N.D. Ga. 15-64266.

The Debtors are represented by:

      SCROGGINS & WILLIAMSON, P.C.
      Ashley R. Ray, Esq.
      J. Robert Williamson, Esq.
      Matthew Levin, Esq.
      One Riverside
      4401 Northside Parkway
      Suite 450
      Atlanta, GA 30327
      Tel: (404) 893-3880
      Fax: (404) 893-3886
      E-mail: aray@swlawfirm.com
              rwilliamson@swlawfirm.com
              mlevin@swlawfirm.com

On Aug. 11, 2015, an official committee of unsecured creditors was
appointed in the case.  No other statutory committee and no trustee
or examiner has been appointed.


CLEVELAND BIOLABS: Incurs $671,000 Net Loss in First Quarter
------------------------------------------------------------
Cleveland Biolabs, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $670,742 on $812,500 of revenues for the three months ended
March 31, 2016, compared to a net loss of $3.69 million on $607,329
of revenues for the same period in 2015.

As of March 31, 2016, Cleveland Biolabs had $19.80 million in total
assets, $4.85 million in total liabilities and $14.94 million in
total stockholders' equity.

"We have incurred cumulative net losses and expect to incur
additional losses related to our R&D activities.  We do not have
commercial products and have limited capital resources.  At March
31, 2016, we had cash, cash equivalents and short-term investments
of $18.0 million which, along with the active government contracts
described above, are expected to fund our projected operating
requirements beyond one year.  However, until we are able to
commercialize our product candidates at a level that covers our
cash expenses, we will need to raise substantial additional
capital, which we may be unable to raise in sufficient amounts,
when needed and at acceptable terms.  Our plans with regard to
these matters may include seeking additional capital through debt
or equity financing, the sale or license of drug candidates, or
obtaining additional research funding from the U.S. or Russian
governments.  There can be no assurance that we will be able to
obtain future financing on acceptable terms, or that we can obtain
additional government financing for our operations.  If we are
unable to raise adequate capital and/or achieve profitable
operations, future operations might need to be scaled back or
discontinued.  The financial statements do not include any
adjustments relating to the recoverability of the carrying amount
of recorded assets and liabilities that might result from the
outcome of these uncertainties."

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

                      https://is.gd/tSDvBv

                    About Cleveland BioLabs

Cleveland BioLabs, Inc. (NASDAQ: CBLI) is a biopharmaceutical
company developing novel approaches to activate the immune system
and address serious unmet medical needs.  The Buffalo, New
York-based company's proprietary platform of toll-like immune
receptor activators has applications in radiation mitigation,
oncology immunotherapy and vaccines.

Cleveland reported a net loss of $13.04 million on $2.70 million of
grants and contracts revenues for the year ended Dec. 31, 2015,
compared to net income of $35,366 on $3.70 million of grants and
contracts revenues for the year ended Dec. 31, 2014.


CONSTELLATION ENTERPRISES: S&P Lowers Corp. Credit Rating to 'D'
----------------------------------------------------------------
S&P Global Ratings said that it has lowered its corporate credit
rating on U.S.-based Constellation Enterprises LLC to 'D' from
'CCC-'.

At the same time, S&P lowered its issue-level rating on the
company's $130 million senior secured notes to 'D' from 'CCC-'. The
'4' recovery rating on the notes remains unchanged, indicating
S&P's expectation for average (30%-50%; upper half of the range)
recovery in the event of a payment default.

"The downgrade follows Constellation's announcement that it had
filed voluntary petitions for relief under Chapter 11 of the U.S
Bankruptcy Code in an effort to restructure its debt obligations,"
said S&P Global credit analyst Steven Mcdonald.  "In conjunction
with its filing, Constellation simultaneously announced that a
group--including the holders of its senior secured notes--has
committed to provide the company with debtor-in-possession
financing, subject to court approval."

S&P will reassess its recovery rating on the company's senior
secured notes if S&P is able to obtain sufficient information about
the proposed debtor-in-possession financing and asset sales.


CORPORATE RESOURCE: Ch.11 Trustee Hires Kurtzman as Claims Agent
----------------------------------------------------------------
James S. Feltman, the Chapter 11 Trustee of Corporate Resource
Services, Inc., et al., seeks authority from the U.S. Bankruptcy
Court for the Southern District of New York to employ Kurtzman
Carson Consultants LLC as claims and noticing agent to the Debtors,
nunc pro tunc to February 1, 2016.

Corporate Resource requires Kurtzman to:

   (a) prepare and serve required notices and documents in the
       Chapter 11 cases in accordance with the Bankruptcy Code
       and the Federal Rules of Bankruptcy Procedure (the
       "Bankruptcy Rules") in the form and manner directed by the
       Trustee and/or the Court, including (i) notice of any
       claims bar date, (ii) notices of transfers of claims,
       (iii) notices of objections to claims and objections to
       transfers of claims, (iv) notices of any hearings on any
       disclosure statement and confirmation of any plan of
       reorganization of the Debtors, including under Bankruptcy
       Rule 3017(d), (v) notice of the effective date of any
       plan, and (vi) all other notices, orders, pleadings,
       publications, and other documents as the Trustee or Court
       may deem necessary or appropriate for an orderly
       administration of these Chapter 11 cases;

   (b) maintain an official copy of the Debtors' schedules of
       assets and liabilities and statement of financial affairs
       (collectively, the "Schedules"), listing the Debtors'
       known creditors and the amounts owed thereto;

   (c) maintain (i) a list of all potential creditors, equity
       holders, and other parties in interest and (ii) a "core"
       mailing list consisting of all parties described in
       Bankruptcy Rule 2002(i), (j), and (k) and those parties
       that have filed a notice of appearance pursuant to
       Bankruptcy Rule 9010; update and make said lists available
       upon request by a party in interest or the Clerk;

   (d) furnish a notice to all potential creditors of the last
       date for filing proofs of claim and a form for filing a
       proof of claim, after such notice and form are approved by
       the Court, and notify said potential creditors of the
       existence, amount, and classification of their respective
       claims as set forth in the Schedules, which may be
       effected by inclusion of such information (or the lack
       thereof, in cases where the Schedules indicate no debt due
       to the subject party) on a customized proof of claim form
       provided to potential creditors;

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

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

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

   (h) maintain the official claims register for each Debtor (the
       "Claims Register") on behalf of the Clerk; upon the
       Clerk's request, provide the Clerk with a certified,
       duplicate unofficial Claims Register; and specify in the
       Claims Register the following information for each claim
       docketed: (i) the claim number assigned, (ii) the date
       received, (iii) the name and address of the claimant and
       agent, if applicable, who filed the claim, (iv) the amount
       asserted, (v) the asserted classification(s) of the claim
       (e.g., secured, unsecured, priority, etc.), (vi) the
       applicable Debtor, and (vii) any disposition of the claim;

   (i) implement necessary security measures to ensure the
       completeness and integrity of the Claims Register and the
       safekeeping of the original claims;

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

   (k) relocate, by messenger or overnight delivery, all of the
       Court-filed proofs of claim to the offices of KCC not less
       than weekly;

   (l) upon completion of the docketing process for all claims
       received to date for each case, turn over to the Clerk
       copies of the Claims Register for the Clerk's review (upon
       the Clerk's request);

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

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

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

   (p) if these Chapter 11 cases are converted to a case under
       Chapter 7 of the Bankruptcy Code, contact the Clerk's
       office within three (3) days of notice to KCC of entry of
       the order converting the case;

   (q) 30 days prior to the close of these Chapter 11 cases, to
       the extent practicable, request that the Trustee submit to
       the Court a proposed order dismissing KCC as Claims and
       Noticing Agent and terminating its services in such
       capacity upon completion of its duties and
       responsibilities and upon the closing of the Chapter 11
       cases;

   (r) within 7 days of notice to KCC of entry of an order
       closing these Chapter 11 cases, provide to the Court the
       final version of the Claims Register as of the date
       immediately before the closing of the Chapter 11 case; and

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

Kurtzman agrees to charge and the Trustee agrees to pay Kurtzman
for its services, expenses and supplies at the rates or prices set
by Kurtzman in accordance with the Kurtzman Fee Structure.

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

Evan J. Gershbein, Senior Vice President of Corporate Restructuring
Services for 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 can be reached at:

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

                    About Corporate Resource Services

Corporate Resource Services, Inc., is a provider of corporate
employment and human resource solutions, headquartered in New York.
CRS leases its headquarters and does not own any real property.
About 90% of CRS shares are owned by Robert Cassera and the balance
are traded OTC.

As of Dec. 31, 2014, CRS was one of the largest employment staffing
companies in the U.S., providing employment and human resources
solutions for corporations with annual sales of about one billion
dollars. In February 2015, CRS began an orderly wind down of
operations after discovering that TS Employment, Inc., a privately
held company owned by Mr. Cassera, failed to remit tens of millions
of dollars of the Debtors' withholding taxes to taxing
authorities.

TS Employment Inc., a professional employer organization that
provided payroll-related services for CRS, sought Chapter 11
protection (Bankr. S.D.N.Y. Case No. 15-10243) in Manhattan on Feb.
2, 2015. TSE tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, in New York, as counsel.  Realization  Services Inc.
serves as the Debtor's consultant. The case is before Judge Martin
Glenn.

CRS and its subsidiaries sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 15-11546) on July 23, 2015, to complete their
orderly wind down of operations. The CRS Debtors tapped (a) Gellert
Scali Busenkell & Brown, LLC, as bankruptcy counsel, (b) Wilmer
Cutler Pickering Hale & Dorr LLP, as special counsel; (c) Carter
Ledyard & Milburn LLP, as special SEC counsel, (d) SSG Capital
Advisors as financial advisors and investment bankers, and (e) Rust
Omni LLC as claims agent.

CRS estimated $10 million to $50 million in assets and $50 million
to $100 million in debt.

The CRS Debtors' cases were transferred to New York (Bankr.
S.D.N.Y. Lead Case No. 15-12329), on August 18, 2015, and assigned
to Judge Martin Glenn.

James S. Feltman has been appointed as Chapter 11 trustee for the
CRS Debtors and for TS Employment, Inc. He has tapped Togut, Segal
& Segal LLP as counsel.


CUSTOM SOFTWARE: Plan Filing Deadline Moved to Sept. 30
-------------------------------------------------------
The Hon. Daniel S. Opperman of the U.S. Bankruptcy Court for the
Eastern District of Michigan has extended, at the behest of Custom
Software Inc., et al., the deadline to file the Combined Plan and
Disclosure Statement to Sept. 30, 2016.

As reported by the Troubled Company Reporter on May 6, 2016, the
Debtors sought the extension so they can better determine the
projected cash flow of the business as well as have access to the
completed appraisal in this matter.  The Court determined that the
Debtor's Chapter 11 Plan should be filed on or about June 6, 2016.
The Court also indicated that any that any request to extend the
deadline for filing of the plan must be filed by May 7, 2016.

Custom Software, Inc. -- dba M33 Access, TWD Communications,
Net4Kids.com, Inc. -- based in Rose City, Mich., filed a Chapter 11
petition (Bankr. E.D. Mich. Case No. 16-20173) on Feb. 5, 2016,
listing $100,000 to $500,000 in assets and $1 million to $10
million in liabilities.  Judge Daniel S. Opperman presides over the
case.  Rozanne M. Giunta, Esq., at Lambert Leser, Attorneys At Law,
serves as counsel to the Debtor.  The petition was signed by Glenn
A. Wilson Sr., president.


CYRUSONE LP: Moody's Affirms B1 Corporate Family Ratings
--------------------------------------------------------
Moody's Investors Service affirmed the B1 senior unsecured and
corporate family ratings of CyrusOne LP. and simultaneously revised
the rating outlook to positive from stable. The change in ratings
outlook reflects meaningful improvement in key leverage and
coverage metrics, rapid yet well planned portfolio growth, and
favorable trends in portfolio metrics.

The following ratings were affirmed with a positive outlook

CyrusOne LP, Senior unsecured debt at B1

CyrusOne LP, Corporate Family Rating at B1

Ratings Rationale

CyrusOne's B1 ratings reflect its rapidly growing presence in the
datacenter segment, moderate leverage profile, income contribution
from leased versus owned assets, significant development outlays
and limited near term debt maturities. The ratings also consider
the opportunities presented by the exponential growth in data
traffic and the very competitive landscape, which includes data
center REITs, other datacenter owners/operators and large public
cloud providers that build and operate some of their own data
centers.

Material growth in the scale of CyrusOne's operations and a
balanced capital strategy has led to improvement in leverage and
coverage ratios in the last few quarters. Favorable trends in
tenant, sector and asset diversification and lengthening of the
lease terms are some other important factors that contribute to the
positive ratings outlook.

CyrusOne LP has 32 owned/leased data center assets in 12 markets.
Operational capacity was 1.6 million square colocation square feet
(CSF)/ 287MW as of 1Q2016, having grown by over 40% in installed
power terms over the last year. The REIT is investing $400 million
in 2016 to commission new projects with 66MW of deliverable power.
Approximately 60% of the new 2016 additions is pre-leased,
significantly reducing development risk. All of the ongoing
development is at assets owned by CyrusOne, a factor that will
meaningfully reduce revenue contributions of non-owned assets. As
of 1Q2016, assets leased from other real estate owners accounted
for 33% of annualized rent.

The acquisition of Cervalis, a New York based data center operator,
in the third quarter of 2015 helped CyrusOne enter the sizable New
York data center market and diversified the REIT's tenant base. The
acquired portfolio includes four data center assets and two work
area recovery centers that are leased from other real estate
owners. Another drawback associated with the Cervalis assets is
that the utilization rate for the non-data center space is modest
and could present a leasing challenge over the medium term.

The REIT's portfolio quality and diversification measures have
improved over the last few quarters. Energy tenants account for 17%
of revenue now compared to 27% in 1Q2015. The largest 20 tenants
accounted for 42.1% of revenue in 1Q2016, a meaningful improvement
from 55.5% a year back. The weighted average lease term for leases
signed in the last four quarters was almost 10 years and would have
a favorable impact on average remaining lease term of 2.8 years. As
CyrusOne has built and acquired assets in new markets, geographic
diversification has improved. Houston, Dallas and Cincinnati assets
accounted for 52% of available power capacity as of March 31, 2016
versus 70% a year back. With the acquisition of the CME asset,
Chicago has become an important market for CyrusOne.

Moody's could consider upgrading CyrusOne's ratings if net debt to
EBITDA remains at about 5.0x on a sustained basis and the REIT
funds new projects or acquisitions on, at least, a leverage neutral
basis. Other important rating considerations include fixed charge
ratio at or above 4.0x and portfolio utilization remaining close to
90% or higher.

The ratings could be downgraded if the REIT's capital strategy
includes higher proportions of debt. Net debt to EBITDA approaching
6.0x, fixed charge below 3.5x, EBITDA margins lower than 50% or
utilization below 85% all on consistent basis are some other
factors that could cause a downgrade.

Headquartered in Carrollton, TX, CyrusOne Inc., the parent of
CyrusOne LP, is a real estate investment trust that owns, develops
and operates enterprise-class, carrier-neutral data centers
catering to customers in the retail and wholesale collocation
markets.


DEX MEDIA: Moody's Cuts Probability of Default Rating to D-PD
-------------------------------------------------------------
Moody's Investors Service downgraded Dex Media, Inc.'s Probability
of Default rating to D-PD from Ca-PD following the announcement on
May 16, 2016 that Dex filed a voluntary petition for reorganization
under Chapter 11 of the U.S. Bankruptcy Code to implement
pre-packaged plans of reorganization. Dex expects to complete the
restructuring during the third quarter of 2016. The outlook remains
negative.

Moody's has taken the following rating action:

Issuer: Dex Media, Inc.

-- Probability of Default Rating: to D-PD, from Ca-PD prior

RATINGS RATIONALE

The downgrade of Dex's PDR to D-PD is a result of the bankruptcy
filing.

Shortly following this rating action, Moody's will withdraw all
ratings for the company consistent with Moody's practice for
companies operating under the purview of the bankruptcy courts
wherein information flow typically becomes much more limited.


DEX MEDIA: S&P Lowers CCR to 'D' Then Withdraws Rating
------------------------------------------------------
S&P Global Ratings said that it lowered its corporate credit rating
on Dex Media Inc.'s to 'D' from 'SD' (selective default) and
lowered its issue-level ratings on the debt issued by Dex Media
Inc.'s subsidiaries-- R.H. Donnelley Inc., Dex Media East Inc., Dex
Media West Inc., and SuperMedia Inc.--to 'D' from 'CC'. The
recovery ratings are unchanged.  Subsequently, S&P withdrew its
issue-level and recovery ratings on the Dex Media and its
subsidiaries' debt.

The rating actions follow Dex Media's announcement that it filed a
voluntary petition under Chapter 11 of the U.S. Bankruptcy Code on
May 17, 2016.

Under the terms of the restructuring plan, Dex Media's senior
secured lenders will exchange about $2.12 billion term loans for a
new $600 million new first-lien term loan, balance sheet cash
(subject to minimum cash needs and other deductions), and nearly
all of the post-reorganized equity.  The unsecured noteholders will
receive a $5 million cash payment and warrants to purchase up to
10% of the post-reorganized equity.


DIAMONDHEAD CASINO: Reports $384,000 Net Loss for First Quarter
---------------------------------------------------------------
Diamondhead Casino Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss applicable to common stockholders of $384,000 for the
three months ended March 31, 2016, compared to net income
applicable to common stockholders of $940,000 for the same period
in 2015.

As of March 31, 2016, Diamondhead had $5.61 million in total
assets, $8.17 million in total liabilities, and a total
stockholders' deficiency of $2.55 million.

The Company has had no operations since it ended its gambling
cruise ship operations in 2000.  Since that time, the Company has
concentrated its efforts on the development of its Diamondhead,
Mississippi Property.  The development of the Diamondhead Property
is dependent on obtaining the necessary capital, through equity
and/or debt financing, unilaterally, or in conjunction with one or
more partners, to master plan, design, obtain permits for,
construct, staff, open, and operate a casino resort.

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

                    https://is.gd/CKStoP

                  About Diamondhead Casino

Largo, Fla.-based Diamondhead Casino Corporation, from inception
through approximately August of 2000, operated gaming vessels in
international waters.  The Company eventually divested itself of
its gaming operations to satisfy financial obligations to its
vendors, lenders and taxing authorities and to focus its resources
on the development of a casino resort in Diamondhead, Mississippi.

The Company owns, through its wholly-owned subsidiary, Mississippi
Gaming Corporation, an approximate 404.5 acre tract of unimproved
land in Diamondhead, Mississippi.  The property is located at 7051
Interstate 10.  The Company intends, in conjunction with unrelated
third parties, to develop the site in phases beginning with a
casino resort.  The casino resort is expected to include a casino,
a hotel and spa, pools, a sport and entertainment center, a
conference center and a state-of-the-art recreational vehicle
park.

Diamondhead Casino reported net income applicable to common
stockholders of $53,242 for the year ended Dec. 31, 2015, compared
to a net loss applicable to common stockholders of $3.37 million
for the year ended Dec. 31, 2015.

Friedman LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2015, citing that the Company has incurred significant
recurring net losses over the past few years.  In addition, the
Company has no operations, except for its efforts to develop the
Diamondhead, Mississippi property.  Such efforts may not contribute
to the Company's cash flows in the foreseeable future.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


DIFFUSION PHARMACEUTICALS: Incurs $6.22 Million Net Loss in Q1
--------------------------------------------------------------
Diffusion Pharmaceuticals Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $6.22 million for the three months ended March 31,
2016, compared to a net loss of $1.24 million for the three months
ended March 31, 2015.  The increase in the net loss was due
primarily to higher expenses associated with the increased research
and development expenses, and general and administrative expenses.

The Company has not generated any revenues from product sales and
has funded operations primarily from the proceeds of private
placements of its membership units and convertible notes.
Substantial additional financing will be required by the Company to
continue to fund its research and development activities.  The
Company said no assurance can be given that any such financing will
be available when needed or that the Company's research and
development efforts will be successful.

As of March 31, 2016, Diffusion had $22.91 million in total assets,
$6.33 million in total liabilities and $16.57 million in total
stockholders' equity.

Research and development expenses were $2.4 million for the quarter
ended March 31, 2016, compared to $732,000 for the quarter ended
March 31, 2015.  This increase was primarily a result of an
increase in drug manufacturing costs and initiating the TSC
pancreatic cancer program.

General and administrative expenses were $3.9 million for the
quarter ended March 31, 2016, compared to $459,000 for the quarter
ended March 31, 2015.  The increase was attributed to costs
associated with the merger and operating as a public company,
including corporate insurance, professional fees and financial
reporting fees.

Cash and cash equivalents were $5.9 million for the quarter ended
March 31, 2016, compared to $2.0 million for quarter ended
March 31, 2015.

David Kalergis, chairman and chief executive officer of Diffusion,
said, "We are pleased with the direction that we are heading
following the merger with RestorGenex Corporation.  We are
continuing to expand our team and welcomed Tom Byrne as General
Counsel.  We also continue to advance our plan to expand the
clinical development pipeline for TSC from GBM to first line
pancreatic cancer."

In January 2016, Diffusion Pharmaceuticals LLC completed a reverse
merger with RestorGenex Corporation in an all-stock transaction.
Following the close of the reverse merger, RestorGenex was renamed
Diffusion Pharmaceuticals Inc. and its ticker symbol was changed to
"DFFN".

In April 2016, Thomas Byrne joined Diffusion as general counsel and
transitioned from his prior positon on the Board of Directors. Mr.
Byrne is continuing to oversee Diffusion's intellectual property
strategy, which he has directed since Diffusion was founded in
2001.

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

                      https://is.gd/yaSuJG

                 About Diffusion Pharmaceuticals

Diffusion Pharmaceuticals, as surviving entity in its merger with
RestorGenex, is a clinical stage biotechnology company focused on
extending the life expectancy of cancer patients by improving the
effectiveness of current standard-of-care treatments including
radiation therapy and chemotherapy.  Diffusion is developing its
lead drug, trans sodium crocetinate (TSC), for use in the many
cancer types in which tumor hypoxia (oxygen deprivation) is known
to diminish the effectiveness of current treatments.  TSC targets
the cancer's hypoxic micro-environment, re-oxygenating
treatment-resistant tissue and making the cancer cells more
vulnerable to the therapeutic effects of treatments such as
radiation therapy and chemotherapy, without the apparent addition
of any serious side effects.  TSC has potential application in
other indications involving hypoxia, such as stroke and
neurodegenerative diseases.

Diffusion reported a net loss of $23.8 million on $0 of revenues
for the year ended Dec. 31, 2015, compared to a net loss of $14.4
million on $0 of revenues for the year ended Dec. 31, 2014.

Deloitte & Touche LLP, in Chicago, Illinois, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company's recurring
losses from operations and its present financial resources raise
substantial doubt about its ability to continue as a going concern.


DIGIPATH INC: Incurs $446,000 Net Loss in Second Quarter
--------------------------------------------------------
DigiPath, Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $446,197
on $141,116 of revenues for the three months ended
March 31, 2016, compared to a net loss of $711,554 on $136,452 of
revenues for the same period in 2015.

For the six months ended March 31, 2016, DigiPath reported a net
loss of $2.17 million on $243,252 of revenues compared to a net
loss of $2.41 million on $310,210 of revenues for the six months
ended March 31, 2015.

As of March 31, 2016, Digipath had $1.53 million in total assets,
$116,119 in total liabilities and $1.42 million in total
stockholders' equity.

As of March 31, 2016, the Company's balance of cash on hand was
$182,817.  The Company currently does not have funds sufficient to
fund our operations for the next twelve months and need to raise
additional cash to fund our operations and expand our lab testing
business.  As the Company continues to develop our lab testing
business and attempt to expand operational activities, the Company
expects to continue to experience net negative cash flows from
operations in amounts not now determinable, and will be required to
obtain additional financing to fund operations through common stock
offerings to the extent necessary to provide working capital.  The
Company has and expects to continue to have substantial capital
expenditure and working capital needs.

"The Company has incurred recurring losses from operations
resulting in an accumulated deficit, and, as set forth above, the
Company's cash on hand is not sufficient to sustain operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.  Management is actively pursuing
new customers to increase revenues.  In addition, the Company is
currently seeking additional sources of capital to fund short term
operations.  In the event sales do not materialize at the expected
rates, management would seek additional financing or would attempt
to conserve cash by further reducing expenses.  There can be no
assurance that we will be successful in achieving these objectives,
becoming profitable or continuing our business without either a
temporary interruption or a permanent cessation.  In addition,
additional financing may result in substantial dilution to existing
stockholders."

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

                    https://is.gd/CgORZP

                       About DigiPath

DigiPath, Inc. was incorporated in Nevada on Oct. 5, 2010.
DigiPath, Inc. and its subsidiaries support the cannabis industry's
best practices for reliable testing, cannabis education and
training, and brings unbiased cannabis news coverage to the
cannabis industry.

The Company reported a net loss of $4.33 million for the year ended
Sept. 30, 2015, compared to a net loss of $2.83 million for the
year ended Sept. 30, 2014.

Anton & Chia, LLP, in Newport Beach, CA, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Sept. 30, 2015, noting that the Company has recurring losses
and insufficient working capital, which raises substantial doubt
about its ability to continue as a going concern.


DOLPHIN DIGITAL: Delays Filing of March 31 Form 10-Q
----------------------------------------------------
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 quarterly report on Form 10-Q for the quarter
ended March 31, 2016.  According to the Company, the Form 10-Q
could not be filed within the prescribed time because additional
time is required by the Company's management and auditors to
prepare certain financial information to be included in such
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 $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.


ELBIT IMAGING: Unit to Sell Riga Plaza for EUR93.4 Million
----------------------------------------------------------
Elbit Imaging Ltd. announced that Plaza Centers N.V., an indirect
subsidiary of the Company, has entered into a business sale
agreement with respect to the Riga Plaza shopping and entertainment
centre in Riga, Latvia, to a global investment fund. The agreement
reflects a value for the business of approximately EUR93.4 million
which is in line with the last reported book value.

The asset, which is a dominant scheme in the Latvian capital
comprising 50,000 sqm of GLA, is the second biggest shopping centre
to have been developed by Plaza.

In line with Plaza's stated restructuring plan, 75% of the net cash
proceeds from Plaza's share of the sale of the business, after the
repayment of the bank loan (approximately EUR55 million, reflecting
100%), will be distributed to Plaza's bondholders within the
quarter following the closing.  The closing of the transaction is
subject to several conditions precedent, all of which are expected
to be fulfilled in the coming months.

                     About Elbit Imaging

Tel-Aviv, Israel-based Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)
holds investments in real estate and medical companies.  The
Company, through its subsidiaries, also develops shopping and
entertainment centers in Central Europe and invests in and manages
hotels.

Elbit Imaging reported a loss of NIS 186.15 million on NIS 1.47
million of revenues for the year ended Dec. 31, 2015, compared to
profit of NIS 1 billion on NIS 461,000 of revenues for the year
ended Dec. 31, 2014.  As of Dec. 31, 2015, Elbit Imaging had NIS
778.25 million in total assets, NIS 758.96 million in total
liabilities and NIS 19.28 million in shareholders' equity.

Since February 2013, Elbit has intensively endeavored to come to
an arrangement with its creditors.  Elbit has said it has been
hanging by a thread for more than five months.  It has encountered
cash flow difficulties and this burdens its day to day activities,
and it certainly cannot make the necessary investments to improve
its assets.  In light of the arrangement proceedings, and
according to the demands of most of the bondholders, as well as an
agreement that was signed on March 19, 2013, between Elbit and the
Trustees of six out of eight series of bonds, Elbit is prohibited,
inter alia, from paying off its debts to the financial creditors
-- and as a result a petition to liquidate Elbit was filed, and
Bank Hapoalim has declared its debts immediately payable,
threatening to realize pledges that were given to the Bank on
material assets of the Company -- and Elbit undertook not to sell
material assets of the Company and not to perform any transaction
that is not during its ordinary course of business without giving
an advance notice to the trustees.

Accountant Rony Elroy has been appointed as expert for examining
the debt arrangement in the Company.

In July 2013, Elbit Imaging's controlling shareholders, Europe-
Israel MMS Ltd. and Mr. Mordechay Zisser, notified the Company
that the Tel Aviv District Court has appointed Adv. Giroa Erdinast
as a receiver with regards to the ordinary shares of the Company
held by Europe Israel securing Europe Israel's obligations under
its loan agreement with Bank Hapoalim B.M.  The judgment stated
that the Receiver is not authorized to sell the Company's shares
at this stage.  Following a request of Europe-Israel, the Court
also delayed any action to be taken with regards to the sale of
those shares for a period of 60 days.  Europe Israel and
Mr. Zisser have also notified the Company that they utterly reject
the Bank's claims and intend to appeal the Court's ruling.


EMI PUBLISHING: Moody's Assigns B3 Ratings to New $350MM Notes
--------------------------------------------------------------
Moody's Investors Service has assigned a B3 rating to MTL
Publishing LLC's (d/b/a EMI Music Publishing in the US) ("EMI MP"
or the "company") proposed $350 million senior notes that will be
issued by its principal holding company subsidiary, EMI Group North
America Holdings Inc --  In connection with this rating action,
Moody's affirmed EMI MP's B1 Corporate Family Rating (CFR) and
B1-PD Probability of Default Rating (PDR). The rating outlook is
stable.

Proceeds from the debt offering plus cash balances will refinance
the $323 million outstanding 12.5% senior notes (currently held by
a minority shareholder) and pay the associated call premium.
Moody's views the refinancing transaction favorably due to the
extension of the debt maturity structure and lower coupon on the
new notes, which will reduce cash interest expense by roughly $15
million per annum.

Rating Assigned:

Issuer: EMI Group North America Holdings Inc.

$350 Million Senior Unsecured Notes due 2024 -- B3 (LGD-5)

Ratings Affirmed:

Issuer: MTL Publishing LLC (d/b/a EMI Music Publishing)

Corporate Family Rating -- B1
Probability of Default Rating -- B1-PD

Issuer: EMI Group North American Holdings Inc.

  $1.11 Billion (originally $1.12 Billion) Senior Secured
First-Lien
  Term Loan B due 2022 -- Ba3 (LGD-3)

Issuers: EMI Group North America Holdings Inc. (Co-Borrower:
    MTL Publishing LLC)

$50 Million Senior Secured Revolving Credit Facility due 2020 --
Ba3 (LGD-3)

The assigned rating is subject to review of final documentation and
no material change in the terms and conditions of the transaction
as advised to Moody's.

RATINGS RATIONALE

Moody's said, "The refinancing will modestly increase debt levels
sustaining EMI MP's elevated financial leverage of about 6.6x total
debt to EBITDA (as of fiscal year ended March 31, 2016, pro forma
for the new senior notes and incorporating Moody's adjustments).
Despite some impact from foreign currency exchange headwinds as
well as ongoing declines in physical/digital mechanical revenue, we
expect leverage to decline to about 6x over the next year due to
debt reduction, one-time cash payments from recently settled
lawsuits and stable-to-improving performance and synchronization
revenue driven by the shift to digital formats, which now comprise
the majority of the music industry's revenue.

"Although the music industry experienced roughly 3% growth last
year, the B1 CFR embeds the industry's lack of sustainable revenue
growth over the past two decades. It also captures the increasing
disparity between the hyper-growth of ad-supported music streaming
consumption relative to the slower growth revenue generated from
the same streams, which means EMI MP's artists, songwriters and
rights holders are not yet fully maximizing value from this
sub-segment and not receiving equitable remuneration.
Notwithstanding weak financial metrics compared to its B1-rated
peers, we believe EMI MP's business model can accommodate a more
leveraged capital structure due to the strong revenue visibility
from long-term royalty contracts, attractive music catalog with
good geographic diversity and monetization characteristics and low
overhead costs that facilitate relatively high EBITDA margins for
the rating category. In addition, we project the company will be
able to improve debt to EBITDA leverage by applying positive free
cash flow to debt reduction, which should result in free cash flow
to adjusted debt approaching 5% over the rating horizon."

The rating is supported by the company's leading global position in
music publishing and its strategic importance to Sony Corporation
(Ba1 positive) via its 50/50 joint venture, Sony/ATV. Sony America
recently announced its intention to purchase the 50% interest in
the joint venture that it does not own from the Estate of Michael
Jackson for $750 million. Moody's believes EMI MP's vast library of
valuable musical copyrights, recurring annuity-like revenue
streams, and largely variable expense structure should maintain
EBITDA margins above 35% under most scenarios. Almost all corporate
overhead and fixed operating expenses have been replaced with a
variable 15% administration fee paid to Sony/ATV based on EMI MP's
gross revenue minus royalties. At transaction close, EMI MP is
expected to maintain good liquidity with around $100 million of
cash and full availability under its $50 million revolving credit
facility.

Rating Outlook

Moody's said "The stable rating outlook reflects our view that
growth in performance revenue and other segments of EMI MP (i.e.,
synchronization) will eventually offset secular declines in
physical/digital mechanical revenue, resulting in Moody's adjusted
debt to EBITDA sustained below 6.25x over the rating horizon.
Moody's believes music publishing revenue, particularly for the
broadcasting related performance segment, generally tracks GDP and
advertising demand. We expect EMI MP will apply free cash flow to
reduce the term loan balance. The outlook also incorporates our
expectation that music entertainment will continue to be of
strategic importance to Sony Corporation, with Sony/ATV and EMI MP
remaining an integral piece of this strategy."

What Could Change the Rating - Up

Ratings could be upgraded if Moody's believe overall mechanical
revenue has stabilized, cash balances are maintained at forecasted
levels, and Moody's adjusted debt to EBITDA is sustained
comfortably below 4.75x with free cash flow to adjusted debt of at
least 6%. In addition, management would need to demonstrate a
commitment to balance debtholder returns with those of its
shareholders and exhibit operating performance and financial
policies consistent with a higher rating.

What Could Change the Rating - Down

Ratings could be downgraded if debt-financed copyright additions
and acquisitions, or competitive pressures, result in the company's
total debt to EBITDA ratios being sustained above 6.25x (Moody's
adjusted), or if shareholder-friendly actions result in strained
liquidity or free cash flow to adjusted debt sustained below 1%.

Headquartered in New York, NY, EMI Music Publishing ("EMI MP") is
the trade name for MTL Publishing LLC (a second-tier holding
company d/b/a EMI Music Publishing in the US and co-issuer of the
revolving credit facility) while EMI Group North America Holdings,
Inc. is a US subsidiary of BW Publishing Limited in the UK (a
fourth-tier holding company) and issuer of the term loan and new
senior notes. EMI MP combined with Sony/ATV is the largest music
publisher in the world, with a diverse catalog of over 4 million
music copyrights. In June 2012, an investor group led by Sony
Corporation of America ("Sony America") acquired EMI Group's music
publishing business from Citigroup for approximately $2.2 billion.
The majority equity ownership is held by Sony and Mubadala
Development Company PJSC, an investment company owned by the Abu
Dhabi government, with minority shareholders comprising JW Nile and
Blackstone/GSO, among others. EMI MP generated revenue of
approximately $569 million in fiscal 2016 (ended March 31) with
roughly 45% derived from the US and the remainder from overseas,
primarily Europe.


FIRSTLIGHT HYDRO: Moody's Affirms 'Ba2' Sr. Secured Bonds Rating
----------------------------------------------------------------
Moody's Investors Service affirmed Firstlight Hydro Generating
Company's (FLH) Ba2 rating on its senior secured bonds due October
2026. The rating outlook is stable.

Rating Rationale

FLH's Ba2 rating affirmation considers the competitive market
position of its hydro assets in the New England power market, low
relative leverage at around $190/kw, and expectations of strong
financial metrics through May 2020 partly supported by cleared
capacity revenues. Moody's said, "On a merchant basis, we
anticipate the project will achieve debt service coverage ratio
(DSCR) of at least 2.0x and FFO to Debt averaging over 25% from the
2017 through 2020 timeframe under conservative assumptions even as
debt service ramps up from $26 million in 2015 to $36 million in
2017. While FLH has an attractive off-take contract with an
affiliate, we recognize the affiliate off-taker has minimal
resources and thus our rating looks past the contract to the
underlying energy and capacity revenues associated with FLH's
assets.

"The rating affirmation also factors in the agreement by the Public
Sector Pension Investment Board (PSP Investments) to purchase ENGIE
SA's (A2, stable) indirect ownership in FLH. PSP Investments is a
large Canadian pension fund and parent of PSP Capital, Inc. (Aaa
stable). We view the change in ownership as a ratings neutral
event, and incorporate the view that PSP Investments will be a
supportive sponsor given their large equity investment nearing
almost $1 billion, the long-term investment horizon of the pension
fund, and their stated willingness to support the project if
needed. That said, we also recognize that PSP Investments, as a new
owner, does not have the same history of demonstrated project
support for FLH as ENGIE who has contributed substantial equity
into FLH since 2009. We understand the sale to PSP Investments is
expected to close in June 2016."

The Ba2 rating further considers weaknesses like the asset
concentration at the Northfield Mountain facility, meaningful
energy price exposure for well over 40% of net margin from 2016
through 2020 under Moody's proforma forecast, hydrology risk for
the run-of-the-river assets, a seven-year merchant tail given its
bond's 2026 maturity, and mixed operational history. Additionally,
the upcoming relicensing at Northfield Mountain creates some
uncertainty regarding future costs since license renewals typically
require some additional spend.

Rating Outlook

Moody's said, "The stable outlook reflects our expectation that FLH
will achieve DSCR above 2.0x and FFO to Debt exceeding 25% from
2017 through 2020, PSP Investments will be a credit supportive
sponsor, and FLH will maintain strong operational performance."

Factors that Could Lead to an Upgrade

The rating could be upgraded if the project is able to implement
long term contracts with creditworthy entities past 2020 or if FLH
materially deleverages ahead of its scheduled debt amortization.
Additionally, the project's rating could improve if it demonstrates
stronger than expected financial metrics on a sustained basis and
there is clarity around long term capital expenditures including
relicensing costs.

Factors that Could Lead to a Downgrade

The rating could be negatively affected if FLH's credit metrics are
materially weaker than expected, sponsor support weakens or if FLH
has major operational problems.

FirstLight Hydro Generating Company owns generation totaling 1,386
MW located in Connecticut and Massachusetts. FLH's assets consist
of the 1,168 MW Northfield Mountain pumped storage facility, 195 MW
of conventional hydro, and a 22.5 MW oil fired peaking facility.
FLH is indirectly owned by ENGIE; however, we anticipate PSP
Investments will become FLH's new owners in Q2 2016.


FLORHAM PARK: U.S. Trustee to Appoint Patient Care Ombudsman
------------------------------------------------------------
U.S. Bankruptcy Judge John K. Sherwood has directed the Acting U.S.
Trustee to appoint a Patient Care Ombudsman for the Chapter 11 case
of Forham Park Surgery Center LLC.

Forham Park Surgery Center LLC filed on Apr. 11, 2016, voluntary
petitions (Bankr. D.N.J. Case No. 16-16964).  The case is assigned
to Judge John K. Sherwood.  The Debtors are represented by Daniel
Stolz, Esq., at Wasserman Jurista & Stolz, in Basking Ridge, N.J.

The Debtor disclosed estimated assets of between $100,000 to
$500,000 and estimated liabilities of between $1 million to $10
million as of the Chapter 11 filing.


FOREST PARK REALTY: Hires Kreager Mitchell as Real Estate Counsel
-----------------------------------------------------------------
Forest Park Realty Partners III, LP, et al., seek permission from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ Kreager Mitchell, PLLC, as real estate counsel.

Kreager Mitchell will (a) perform the legal services pertaining to
the sale of real properties that constitute Forest Park Dallas,
which includes several hospital buildings, a six-story parking
deck, and a vacant lot; (b) work with the Debtors on appropriate
disclosure materials; (c) negotiate earnest money contract(s) with
potential buyer(s); and (d) prepare closing documents; and
represent the Debtors through the closing of the sale of the
Properties, including addressing any title objections raised by the
buyer.

Kreager Mitchell will be paid at these hourly rates:

      Bruce Mitchell, Esq.        $395
      Alan Gretzinger, Esq.       $275
      Prentice Miller, Esq.       $225

Alan J. Gretzinger, Esq., an attorney at Kreager Mitchell, assures
the Court that the firm is a "disinterested person" within the
meaning of 11 U.S.C. Section 101(14) in that the firm, its
partners, counsel and associates: (a) are not creditors, equity
security holders or insiders of the Debtors; (b) are not and were
not, within two years before the date of the application, a
director, officer or employee of the Debtors; and (c) do not hold
an interest materially adverse to the estate or any class of
creditors or equity security holders, by reason of any direct or
indirect relationship to, connection with, or interest in, the
Debtors, or for any other reason.

Kreager Mitchell can be reached at:

      Alan J. Gretzinger, Esq.
      KreagerMitchell
      7373 Broadway, Suite 500
      San Antonio, Texas 78209
      Tel: (210) 829-7722
      Fax: (210) 821-6672
      E-mail: agretzinger@kreagermitchell.com

                        About Forest Park Realty

Forest Park Realty Partners III, LP, and BT Forest Park Realty
Partners, LP, own properties that constitute Forest Park Dallas,
which includes several hospital buildings, a parking garage, and a
vacant lot.

Forest Park Realty Partners III, LP, and BT Forest Park Realty
Partners, LP, sought Chapter 11 protection (Bankr. N.D. Tex. Lead
Case No. 15-34814) on Nov. 30, 2015. The petitions were signed by
Todd Furniss as manager of Neal Richards Group Forest Park
Development LLC, its general partner. Judge Stacey G. Jernigan has
been assigned to the cases.

Forest Park estimated assets of $50 million to $100 million and
liabilities of $100 million to $500 million.

Franklin Hayward LLP serves as counsel to the Debtors.


FOREVERGREEN WORLDWIDE: Incurs $523,000 Net Loss in First Quarter
-----------------------------------------------------------------
Forevergreen Worldwide Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $523,000 on $11.9 million of net revenues for the three
months ended March 31, 2016, compared to net income of $335,000 on
$17.2 million of net revenues for the same period in 2015.

As of March 31, 2016, ForeverGreen had $9.76 million in total
assets, $11.6 million in total liabilities and a total
stockholders' deficit of $1.85 million.

As reported in the accompanying consolidated financial statements,
the Company has a working capital deficit of $3,480,209 and
accumulated deficit of $37,361,848 at March 31, 2016, negative cash
flows from operations, and has experienced periodic cash flow
difficulties.  These factors combined, raise substantial doubt
about the Company's ability to continue as a going concern.  

The Company has reviewed its cost structure and is taking steps to
implement cost saving measures deemed to be effective.  This
includes a reduction in labor force, restructuring of lease
agreements, revised pricing of certain products to enhance sales
incentives, and a marketing plan which involves more interaction
with a broad scope of customers and Members.

Additionally, the Company expects it will take advantage of limited
international expansion opportunities.  These expansion
opportunities will continue to be evaluated and those which provide
the best opportunity for success will be pursued on a priority
basis.  New products have been and will continue to be introduced
to bolster Member recruiting and sales.  Management is reviewing
improvements to the marketing plan which will enhance the
opportunities for continued growth.  The Company intends to seek
debt and equity financing as necessary.

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

                     https://is.gd/KPF1uo

                 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.

Forevergreen incurred 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.


FREEDOM COMMS: Exclusive Plan Filing Period Extended to June 28
---------------------------------------------------------------
The Hon. Mark S. Wallace of the U.S. Bankruptcy Court for the
Central District of California has extended, at the behest of
Freedom Communications Inc. and its affiliated debtors, and the
Official Committee of Unsecured Creditors appointed in the Debtors'
cases, the exclusivity periods by which the Debtors and the
Committee have to file a joint Chapter 11 plan to and including
June 28, 2016, from April 29, 2016; and the solicitation
exclusivity periods during which only the Debtors and the Committee
may solicit acceptances to their joint plan to and including Aug.
27, 2016, from June 28, 2016.

As reported by the Troubled Company Reporter on May 2, 2016, the
Debtors and the Committee tell the Court that the Debtors could not
file a plan and disclosure statement prior to the conclusion of the
sale of their assets, as the proceeds from the sale is the source
of funding for the plan.  Now that the sale to MediaNews Group,
Inc., dba Digital First Media has closed, the Debtors together with
the Committee are focusing their attention on negotiating and
preparing a joint Chapter 11 plan of liquidation pursuant to which,
among other things, the proceeds of the sale will be distributed.

                   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.


FRESH & EASY: Hires Kelley Drye as Substitute Counsel
-----------------------------------------------------
Fresh & Easy, LLC, asks for permission from the U.S. Bankruptcy
Court for the District of Delaware to employ Kelley Drye & Warren
LLP as substitute special counsel to the Debtor nunc pro tunc to
April 18, 2016.

A hearing on the request is set for June 30, 2016, at 11:00 a.m.
Objections to the request must be filed by June 23, 2016, at 4:00
p.m.

On Dec. 23, 2015, the Debtor filed an application to employ
Sheppard Mullin Richter & Hampton LLP as special counsel to the
Debtor to perform legal services attendant to labor and employment
issues in connection with the Chapter 11 case.  On Jan. 8, 2016,
the Court entered an order granting the Sheppard Mullin retention
application.  Sheppard Mullin had represented the Debtor since the
start of its operations in 2013 with respect to virtually all labor
and employment matters.  

Effective as of the April 18, 2016, Michael Gallion, Esq., David
Van Pelt, Esq., and Kathryn Visosky, Esq., the Sheppard Mullin
attorneys who have been primarily responsible for the
representation of the Debtor in labor and employment matters,
joined Kelley Drye.  To ensure continuity of representation and to
minimize costs the Debtor would have to incur in connection with
having different attorneys represent the Debtor with respect to
labor and employment issues, the Debtor requested that Kelley Drye
substitute for Sheppard Mullin in the Chapter 11 case, effective as
of April 18, 2016, subject to court approval.  The terms of the
proposed retention of Kelley Drye are identical in all material
respects to the retention of Sheppard Mullin, and are no less
favorable to the Debtor's estate.

The services to be rendered by Kelley Drye will be the same
services the Attorneys had already been retained to provide and
will not duplicate services being provided by any other
professionals retained by the Debtor.

While at Sheppard Mullin, the Attorneys handled virtually all of
the Debtor's labor and employment matters since the Debtor's
inception, including, but not limited to: (i) assisting in the
formulation, drafting, and implementation of the Debtor's labor and
employment policies and practices; (ii) formulating numerous
processes and protocols to assist the Human Resources Departments
in managing the employees effectively; (iii) periodic review, and
revision of such policies and protocols; (iv) advising the Debtor's
in-house Human Resources and Legal Departments on the gamut of
employee relations issues, including hiring, training,
termination and discipline; (v) investigating employee complaints;
(vi) assisting in the structure and implementation of reductions in
force; (vii) formulation and implementation of numerous proactive
measures fend off potential lawsuits; and (viii) providing periodic
training on legal developments and the Debtor's policies and
practices.

Michael L. Gallion, Esq., a member at Kelley Drye, tells the Court
that the firm will charge for its services on an hourly basis in
one-tenth hour (.1) increments.  Kelley Drye has agreed to provide
the services to the Debtor at the same partner and associate rates
as were being charged by Sheppard Mullin.  The hourly billing rates
for the Kelley Drye attorneys expected to work on this matter range
from $400-$500 for partners and associates.  Kelley Drye also
intends to seek reimbursement for reasonable expenses incurred in
connection with its representation of the Debtor.

Mr. Gallion assures the Court that Kelley Drye does not represent
any adverse interest to the Debtor in connection with matters upon
which the firm is to be employed.

To the best of the Debtor's knowledge, Kelley Drye is not
representing any creditors of the Debtor, or any other
parties-in-interest, or their respective attorneys, in any matter
relating to the estate.  The Debtor has been informed that Kelley
Drye will conduct an ongoing review of its files to ensure that no
disqualifying circumstance arise and, if any new relevant facts or
relationships are discovered, Kelley Drye will supplement its
disclosures to the Court.

Kelley Drye does represent certain landlords for various locations
at which the Debtor was a tenant in connection with the Chapter 11
Case.  These landlord clients include: La Jolla Management Company,
NewMark Merrill Companies, Tuscany Square Partners, LLC, Regency
Centers L.P., PRJL-Corona, LLC, Brixton-Calimesa, LLC and Monterey
Property Associates of Anaheim, LLC.  Kelley Drye also represented,
in connection with the Chapter 11 case, Jones Lange LaSalle
Americas, a provider of facility maintenance, vendor, and lease
administration services to the Debtor pursuant to a contract that
expired by its terms on March 31, 2016, and JLL has advised Kelley
Drye that it has been paid in full for its services by the Debtor.
The Landlord Clients and JLL are pre-existing clients that Kelley
Drye has represented in the past in matters unrelated to this
Chapter 11 case, and each entity asked Kelley Drye to represent it
in this Chapter 11 case as well.

Kelley Drye's representation of the Landlord Clients in the Chapter
11 case is separate and distinct from the subject matter of the
services the Debtors have asked the Attorneys to continue.  The
services relate to labor and employment advice, including
opposition to the proposed class certification of certain of the
Debtor's former employees.  The representation of the Landlord
Clients relates to the disposition of those clients' leases under
which the Debtor was a tenant.  Additionally, the representation of
the Landlord Clients in the Chapter 11 case is nearly complete, as
each of the Debtor's leases at the Landlord Clients' locations have
either been rejected or assigned to an unrelated third-party.   The
only task remaining in the representation of the Landlord Clients
in the Chapter 11 case is the claims process, which does not
present a materially adverse interest to the Debtor.  None of the
Kelley Drye attorneys that have represented or will represent the
Landlord Clients will provide services to the Debtor in the Chapter
11 case.  In addition, none of the Attorneys (nor any other
attorney involved in providing labor and employment counseling to
the Debtor) have or will advise the Debtor in connection with any
matter involving the Landlord Clients.

Kelley Drye can be reached at:

      Michael L. Gallion, Esq.
      KELLEY DRYE & WARREN LLP
      10100 Santa Monica Boulevard
      Twenty-Third Floor
      Los Angeles, CA 90067
      Tel: (310) 712-6140
      Fax: (310) 712-6199
      E-mail: mgallion@kelleydrye.com

                        About Fresh & Easy

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

Judge Christopher S. Sontchi is assigned to the case.

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

                           *     *     *

The Debtor has undertaken the process of liquidating the estate's
assets located at its retail locations and distribution center with
the assistance of Hilco Merchant Resources, LLC, and Industrial
Assets Corp., respectively, has engaged DJM Realty Services, LLC,
and CBRE, Inc., to market its leasehold interests, and has recently
engaged Hilco Streambank to assist with the disposition of its
intellectual property.

As part of the claims process, a bar date of Feb. 19,
2016, was established by the Court for creditor claims.


FTE NETWORKS: Incurs $1.12 Million Net Loss in First Quarter
------------------------------------------------------------
FTE Networks, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $1.12 million on $2.09
million of revenues for the three months ended March 31, 2016,
compared to a net loss attributable to common shareholders of
$749,000 on $3.34 million of revenues for the same period in 2015.

As of March 31, 2016, FTE Networks had $8.73 million in total
assets, $19.3 million in total liabilities, $437,000 in temporary
equity and a total stockholders' deficiency of $11.02 million.

As of March 31, 2016, the Company has an accumulated deficit of
$13.9 million.  In addition, the Company has working capital
deficiencies of $4.6 million and $3.6 million as of March 31, 2016
and Dec. 31, 2015, respectively.  Management plans to continue to
raise additional funds through the sales of debt or equity
securities.  Consistent with management's plans to increase
liquidity and enhance capital resources, the Company recently
issued 232,352 shares of Preferred Series F stock to an investor
for funds of approximately $600,000 as of May 10, 2016.  However,
there is no assurance that additional financing will be available
when needed or that management will be able to obtain and close
financing transactions on terms acceptable to the Company or
whether the Company will become profitable and generate positive
operating cash flow.  If the Company is unable to raise sufficient
additional funds, it will have to develop and implement a plan to
further extend payables and reduce overhead until sufficient
additional capital is raised to support further operations.  There
can be no assurance that such a plan will be successful.

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

                    https://is.gd/KGt4xY

                  About FTE Networks, Inc.

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

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


FTS INT'L: S&P Lowers CCR to 'CCC+' on Prolonged Industry Downturn
------------------------------------------------------------------
S&P Global lowered its corporate credit rating Fort Worth,
Texas-based oilfield services provider FTS International Inc.
(FTSI) to 'CCC+' from 'B-'.  The outlook is negative.

At the same time, S&P lowered the issue-level ratings on FTSI's
term loan due 2021 and senior secured notes due 2022 to 'CCC' from
'CCC+'.  The recovery ratings on these debt instruments remain '5',
indicating modest (10% to 30%; higher end of range) recovery to
creditors if a payment default occurs.  S&P also lowered the
issue-level rating on the company's $350 million senior secured
floating-rate notes to 'B' from 'B+'.  The recovery rating on this
debt remains '1', reflecting S&P's estimate of very high (90% to
100%) recovery to creditors if a default occurs.

"The downgrade reflects depressed market conditions in the oilfield
services industry as a result of the protracted slump in oil prices
and our expectation of reduced exploration and production capital
spending in 2016," said S&P Global Ratings credit analyst Christine
Besset.

S&P bases its corporate credit rating on its assessment of FTSI's
vulnerable business risk and highly leveraged financial risk
profiles.  S&P characterizes FTSI's liquidity as adequate.

The negative outlook reflects S&P's expectation that FTSI's
liquidity position will likely deteriorate in the coming year given
S&P's weak outlook for commodity prices and drilling activity
onshore North America.  S&P could lower the ratings if it
envisioned a specific default scenario within a year.

S&P could revise the rating outlook to stable if market conditions
in the onshore North American oil and gas industry improved such
that S&P expects FTSI to generate enough cash flow to cover
interests and maintenance capital spending on an ongoing basis, and
stabilize its liquidity position.


FUEL PERFORMANCE: Incurs $440,000 Net Loss in First Quarter
-----------------------------------------------------------
Fuel Performance Solutions, Inc., filed with the Securities and
Exchange Commission its quarterly reort on Form 10-Q disclosing a
net loss of $439,902 on $47,622 of net revenues for the three
months ended March 31, 2016, compared to a net loss of $470,529 on
$134,073 of net revenues for the three months ended March 31,
2015.

As of March 31, 2016, Fuel Performance had $2.39 million in total
assets, $4.50 million in total liabilities and a total
stockholders' deficit of $2.11 million.

Working capital deficit at March 31, 2016, was $(3,345,935), as
compared to $(3,126,013) at Dec. 31, 2015.  The negative working
capital balance for March 31, 2016, is negatively impacted by
continued operational cash burn to fund ongoing operations during
the three months ended March 31, 2016, the issuance of the 2016
Notes payable and the reclassification of the 2014 Notes payable
and associated accrued interest payable from a long term liability
to a current liability at Dec. 31, 2015.  The negative working
capital balance for Dec. 31, 2015, is negatively impacted by
continued operational cash burn to fund ongoing operations during
the twelve months ended Dec. 31, 2015, and the reclassification of
the 2014 Notes payable and associated accrued interest payable from
a long term liability to a current liability at Dec. 31, 2015.

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

                     https://is.gd/kaRDbY

                     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.

Fuel Performance reported 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.

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.


FULLCIRCLE REGISTRY: Delays Filing of March 31 Form 10-Q
--------------------------------------------------------
FullCircle Registry, Inc., was unable to file its quarterly report
on Form 10-Q for the period ended March 31, 2016, within the
prescribed time period due to its difficulty in completing and
obtaining required financial and other information without
unreasonable effort and expense, according to a regulatory filing
with the Securities and Exchange Commission.  The Company expects
to file the Form 10-Q within the time period permitted by this
extension.

                   About FullCircle Registry

Shelbyville, Kentucky-based FullCircle Registry, Inc., targets the
acquisition of small profitable businesses.  FullCircle Registry,
Inc., has become a holding company with three subsidiaries.  They
are FullCircle Entertainment, Inc., FullCircle Insurance Agency,
Inc. and FullCircle Prescription Services, Inc.  Target companies
for future acquisition are those in search of exit plans for the
owners and are intended to continue autonomous operations as
current ownership is phased out over a period of 3-5 years.

FullCircle reported a net loss of $695,678 on $1.14 million of
revenues for the year ended Dec. 31, 2015, compared to a net loss
of $653,428 on $1.49 million of revenues for the year ended Dec.
31, 2014.

As of Dec. 31, 2015, FullCircle had $5.31 million in total assets,
$6.37 million in total liabilities and a total stockholders'
deficit of $1.05 million.

Somerset CPAs, P.C., in Indianapolis, Indiana, 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 has a net capital deficiency
that raises substantial doubt about its ability to continue as a
going concern.


GARDNER DENVER: Moody's Cuts Corporate Family Rating to B3
----------------------------------------------------------
Moody's Investors Service downgraded the ratings of Gardner Denver,
Inc. including its Corporate Family Rating ("CFR") and Probability
of Default Ratings to B3 and B3-PD from B2 and B2-PD, respectively.
Concurrently, the rating on the company's senior secured revolving
credit facility and term loans were downgraded to B2 from B1 and
senior unsecured notes to Caa2 from Caa1. The ratings downgrade was
driven by lower than expected operating performance due to
challenging end-market conditions in the company's energy and
industrial end-markets and the likelihood that leverage will remain
elevated based on limited visibility into the timing and magnitude
of an end market recovery. The outlook is negative.

Moody's downgraded the following ratings of Gardner Denver, Inc.:

Corporate Family Rating, to B3 from B2

Probability of Default Rating, to B3-PD from B2-PD

Senior secured revolving credit facility, to B2 (LGD-3) from B1
(LGD-3)

$1.9 billion senior secured term loan due 2020, to B2 (LGD-3) from
B1 (LGD-3)

EUR400 million senior secured term loan due 2020, to B2 (LGD-3)
from B1 (LGD-3)

$575 million senior unsecured notes due 2021, to Caa2 (LGD-6) from
Caa1 (LGD-6)

RATINGS RATIONALE

Gardner Denver's B3 CFR is reflective of its very high leverage and
challenging end-market conditions counterbalanced by a good
liquidity profile, diverse end-markets and high margins for the
rating category. During the last twelve months ended March 31,
2016, the company's debt/EBITDA (including Moody's standard
adjustments) exceeded 8.0x with EBIT/interest coverage of
approximately 1.0x. Meaningful de-leveraging in the near-term is
unlikely given end-market headwinds.

Despite the very high leverage, the rating recognizes the company's
relatively large scale (FY 2015 sales of $2.1 billion), its sizable
aftermarket business (approximately one third of sales) and its
diversity by end-market and geography with over half of sales
generated abroad. These factors temper some of the cyclicality of
its segments. The decline in oil and other commodity prices has
been resulting in lower demand and capital expenditures by energy
and industrial customers that is translating to lower revenue and
earnings for Gardner Denver. This has been reflected in lower
earnings than anticipated and goodwill charges in the company's
energy business over the last two years. Positively, the company
has been taking proactive restructuring actions to counterbalance
some of the downward pressure on earnings.

The negative outlook is based on uncertainty into the timing and
magnitude of an end market recovery.

Stabilization of the outlook would be contingent on improving
financial performance including top line revenue growth and a
stabilization in end-market conditions.

Given challenging end-market conditions and the protracted nature
of the current downturn, the restoration to credit metrics that are
in line with a B2 rating level over the near-term is viewed as
unlikely.

Upward rating momentum would depend on debt/EBITDA improving
towards 6.0 times, EBIT to interest exceeding 1.5x and the
maintenance of a good liquidity profile.

Downward rating momentum would develop if the company's liquidity
profile were to weaken or a continued decline in operating
results.

Gardner Denver, Inc., headquartered in Milwaukee, WI is a global
manufacturer of compressors, pumps and blowers used in energy,
general industrial, medical, and other markets. Funds affiliated
with Kohlberg Kravis Roberts & Co. L.P. ("KKR") purchased the
company in July 2013. For the twelve months ended March 31, 2016,
the company generated revenues of $2.0 billion.


GASTAR EXPLORATION: Signs Waiver Agreement with Wells Fargo
-----------------------------------------------------------
Gastar Exploration Inc., on May 10, 2016, entered into a Waiver of
the Second Amendment and Restated Credit Agreement among the
Company, as Borrower, Wells Fargo Bank, National Association, as
Administrative Agent, Collateral Agent, Swing Line Lender and
Issuing Lender, and in its capacity as a Lender, and the other
Lenders party thereto, pursuant to which the Lenders permanently
waived the occurrence of an unintended default under the Credit
Agreement that resulted from the timing of cash dividend payments
made by the Company in respect of the month of March 2016 on the
Company's 8.625% Series A Cumulative Preferred Stock and the
Company's 10.75% Series B Cumulative Preferred Stock, which
payments were made on March 31, 2016.

               Amendment to the Rights Agreement

On May 11, 2016, the Board of Directors of the Company adopted an
amendment to the Rights Agreement dated Jan. 18, 2016, to make
certain provisions of the Rights Agreement inapplicable to
purchasers of the Company's common stock approved by the Board to
purchase common stock in the previously announced underwritten
public offering of up to 57,500,000 shares of common stock,
including the Underwriters' option to purchase up to an additional
7,500,000 shares of common stock solely to cover over-allotments,
approved by the Board, or a committee thereof, so that no such
purchaser will be deemed an "Acquiring Person" under the Rights
Agreement by virtue of their purchase of common stock in the
Offering.  The Amendment to the Rights Agreement was executed by
the Company on May 11, 2016, and was effective immediately upon
such execution pursuant to Section 28 of the Rights Agreement.

                    Underwriting Agreement

On May 12, 2016, the Company entered into an underwriting agreement
with Seaport Global Securities LLC and Johnson Rice & Company
L.L.C., as representatives of the several underwriters named
therein, in connection the Offering.  The issuance and sale of
common stock in the Offering has been registered under the
Securities Act of 1933, as amended, pursuant to a shelf
registration statement on Form S-3 (Registration No. 333-193832)
that was declared effective by the Securities and Exchange
Commission on Feb. 24, 2014.  Closing of the Offering is scheduled
for May 17, 2016.  

The Underwriting Agreement contains customary representations,
warranties and agreements by the Company and customary conditions
to closing, obligations of the parties and termination provisions.
Additionally, the Company has agreed to indemnify the Underwriters
against certain liabilities, including liabilities under the
Securities Act, or to contribute to payments the Underwriters may
be required to make because of any of those liabilities.
Furthermore, the Company has agreed with the Underwriters not to
offer or sell any shares of its common stock (or securities
convertible into or exchangeable for common stock), subject to
certain exceptions, for a period of 60 days after the date of the
Underwriting Agreement without the prior written consent of Seaport
Global Securities LLC.

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

                     https://is.gd/SshRKi

                   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 Web site at http://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 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.


GENERATION BRANDS: Moody's Assigns a B2 Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating and
a B2-PD Probability of Default Rating ("PDR") to Generation Brands
Holdings, Inc., a B1 rating to the company's proposed $180 million
first lien senior secured term loan due 2022 and a Caa1 rating to
its proposed $80 million second lien senior secured term loan due
2022. The rating outlook is stable.

Generation Brands has entered into a definitive agreement with AEA
Investors LP whereby the sponsor will acquire the company from its
current owners Quad-C Management, Inc. The transaction will be
funded with proceeds from the proposed $180 million first lien term
loan due 2022, $80 million second lien term loan due 2022 and a
$255 million equity contribution from the sponsor. At the same
time, the company will put in place a new $50 million ABL revolving
credit facility due 2021, under which approximately $10 million
will be outstanding pro forma for the transaction, while all of the
existing debt will be repaid.

The virtually leverage-neutral nature of the proposed transaction
(given that debt declines by about $10 million) results in pro
forma Moody's-adjusted debt to EBITDA of approximately 5.4x, while
pro forma EBITA to interest coverage is expected to improve to 2.0x
from about 1.4x as a result of anticipated interest expense
reduction. The proposed new credit facilities will provide more
flexibility under the company's financial maintenance covenants
compared to the existing credit agreement. According to Moody's
Analyst Natalia Gluschuk, "we expect that over the next 12 months
the company will reduce leverage comfortably below 5.0x on a
sustainable basis, based on its track record of substantive
deleveraging over the last couple of years through positive
operating trends and restructuring efforts." Favorable conditions
in Generation Brands' residential, repair & remodel and commercial
end markets and new product introductions will continue to drive
modest revenue and earnings growth for the company. Free cash flow
generation will improve through growing earnings, lower interest
expense and potential tax savings.

The following rating actions have been taken:

Issuer: Generation Brands Holdings, Inc.:

Corporate Family Rating, assigned B2;

Probability of Default Rating, assigned B2-PD;

Proposed $180 million first lien term loan due 2022,
assigned B1 (LGD3);

Proposed $80 million second lien term loan due 2022,
assigned Caa1 (LGD5);

The rating outlook is stable.

Issuer: Quality Home Brands Holdings LLC:

All existing ratings have not been changed and will be withdrawn
upon closing of the transaction.

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.

RATINGS RATIONALE

The B2 Corporate Family Rating (CFR) reflects the company's
relatively high debt leverage and its small size and scale compared
to rated consumer durable peers. The rating also considers the
company's limited product diversity, the highly competitive nature
of the lighting industry, and the cyclicality of the residential
and commercial end markets served. The rating also reflects long
term risks associated with potential shareholder-friendly
activities given the private equity ownership. Notwithstanding
these concerns, the rating is supported by Generation Brands'
positive operating trends, good EBITA margins, solid position in
the niche and fragmented lighting markets, and a good liquidity
profile. Additionally, the rating incorporates Moody's expectations
that favorable residential and commercial market conditions and new
product introductions will drive modest revenue and earnings growth
for the company and, along with cost savings efforts, will
contribute to improvement in its credit metrics.

The stable rating outlook reflects Moody's expectations that over
the next 12 to 18 months the company will continue to demonstrate
revenue and earnings growth and will delever and sustain its debt
to EBITDA comfortably below 5.0x, while maintaining good
liquidity.

Generation Brands has a good liquidity profile, supported by
Moody's expectations that the company will maintain availability
under its $50 million ABL credit facility above 50% of the
capacity, and will sustain sufficient headroom under covenants in
the proposed credit agreements. Liquidity is also supported by the
proposed extension of the company's debt maturity profile and
Moody's expectations of improving cash flow generation. However,
liquidity is constrained by potential volatility of cash flows due
to working capital needs and new product introductions as well as
by low cash balances.

Although not expected in the intermediate term, the ratings could
be considered for an upgrade if the company substantially improves
its size and scale, reduces its leverage sustainably below 3.5x and
improves interest coverage above 3.0x. Maintenance of conservative
financial policies and a good liquidity profile would also be
required for a higher rating.

The ratings could be downgraded if operating performance were to
weaken through revenue or earnings declines, if leverage does not
decline below 5.0x over the next 12 months, or if interest coverage
weakens below 2.0x. A liquidity deterioration, including negative
free cash flow generation, could also result in a negative rating
pressure.

Generation Brands Holdings, Inc., headquarter in Skokie, IL, is a
designer and manufacturer of decorative and functional lighting
fixtures and ceiling fans under the Feiss, Sea Gull, Tech Lighting,
LBL, Ambiance and Monte Carlo brands. The company's customer base
includes lighting showrooms, which serve primarily the home
remodeling market, and electrical distributors, which sell to the
homebuilding and commercial markets. The company is being acquired
by AEA Investors, LP. In the LTM period ending March 31, 2016,
Generation Brands generated approximately $281 million in revenues.


GENIUS BRANDS: Andrew Heyward Reports 34.8% Equity Stake
--------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Amy Moynihan Heyward and Andrew A. Heyward disclosed
that as of May 5, 2016, they beneficially own 4,352,402 shares of
common stock of Genius Brands International, Inc., representing
34.8 percent of the shares outstanding.

Andrew A. Heyward is chief executive officer of Genius Brands.  He
is a member, co-manager with Amy Moynihan Heyward, his wife, and
controlling person of A Squared Holdings, LLC.

Amy Moynihan Heyward is president of the Company.  She is a member,
co-manager with Andrew A. Heyward, her husband, and controlling
persons of ASH.

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

                    https://is.gd/ovCpVg

                     About Genius Brands

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

Genius Brands reported a net loss of $3.48 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.


GENIUS BRANDS: Incurs $1.73 Million Net Loss in First Quarter
-------------------------------------------------------------
Genius Brands International, Inc., filed with the Securites and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss applicable to common shareholders of $1.73 million on
$351,893 of total revenues for the three months ended March 31,
2016, compared to a net loss applicable to common shareholders of
$636,262 on $296,634 of total revenues for the three months ended
March 31, 2015.

As of March 31, 2016, Genius Brands had $19.76 million in total
assets, $6.69 million in total liabilities and $13.06 million in
total stockholders' equity.

                            Liquidity

Historically, the Company has incurred net losses.  As of
March 31, 2016, the Company had an accumulated deficit of
$28,780,086 and total stockholders' equity of $13,067,400.  At
March 31, 2016, the Company had current assets of $6,472,818,
including cash of $5,892,881 and current liabilities of $2,602,051,
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 $3,870,767.  Subsequent to the end
of the quarter, the Company issued 238,683 shares of common stock
valued at $1.72 per share in exchange for the extinguishment of
short-term debt to related parties totaling $410,535.  On a
pro-forma basis, this transaction would have reduced the Company's
current liabilities of $2,602,051, at March 31, 2016, to $2,191,516
and increased working capital from $3,870,767 to $4,281,302.  For
the three months ended March 31, 2016, and 2015, the Company
reported a net loss of $1,649,310 and $636,262, respectively, and
reported net cash provided by operating activities during three
months ended March 31, 2016, of $707,111.

During the three months ended March 31, 2016, the Company received
proceeds of $2,000,000 pursuant to its distribution agreement with
Sony Pictures Home Entertainment.  While the Company believes that
its current cash balances will be sufficient to fund operations for
the next twelve months, there can be no assurance that cash flows
from operations will continue to improve in the near future. If the
Company is unable to attain profitable operations and maintain
positive operating cash flows, it may need to (i) seek additional
funding, (ii) scale back its development plans, or (iii) reduce
certain operations.

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

                       https://is.gd/hk4YrO

                        About Genius Brands

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

Genius Brands reported a net loss of $3.48 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.


GENIUS BRANDS: Issues Letter to Shareholders
--------------------------------------------
Genius Brands International, Inc. distributed to its shareholders a
letter on May 17, 2016, from the Company's Chairman and CEO Andy
Heyward.  The Letter discusses the Company's report for the first
quarter of 2016, a copy of which is available for free at:

                      https://is.gd/OlTCwC

                       About Genius Brands

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

Genius Brands reported a net loss of $3.48 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.


GENTE JOVEN: Hires Luis D. Flores Gonzalez as Bankruptcy Counsel
----------------------------------------------------------------
Gente Joven Guayama, Inc., asks for authorization from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ the Law
Offices of Luis D. Flores Gonzalez, attorney at law, as bankruptcy
counsel.

The Debtor said it needs the firm in connection with the filing of
the Schedules, the Statement of Financial Affairs filed under
Chapter 11, the payment plan that will be proposed, the examination
of the claims filed, the Disclosure Statement and other related
matters.

Mr. Gonzalez will be paid at these hourly rates:

      Luis D. Flores Gonzalez, Esq.    $200
      Certified Legal Assistants        $60
      Paraprofessionals                 $40

Mr. Gonzalez tells the Court that he has received a retainer in the
case in the amount of $3,000, which sum upon information and
belief, was generated by the Debtor.

Mr. Gonzalez assures the Court that neither he nor any member or
associate of the firm hold any relationship or connection with the
Debtor, creditor or any other party in interest nor their attorneys
and accountants, the U.S. Trustee or any person employed in the
office of the U.S. Trustee in the present nor any related matter.
Mr. Gonzalez tells the Court that he is a disinterested party as
required by 11 U.S.C. Sec. 327(a).

Mr. Gonzalez can be reached at:

      Luis D. Flores Gonzalez, Esq.
      Luis D. Flores Gonzalez 121505
      Georgetti No. 80 Suite 202
      Rio Piedras, Puerto Rico 00925
      Tel: (787) 758-3606
      E-mail: ldfglaw@coqui.net
              ldfglaw@yahoo.com

Gente Joven Guayama, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. D.P.R. Case No. 16-02942) on April 14, 2016.
Luis D. Flores Gonzalez, Esq., at Luis D. Flores Gonzalez Law
Office serves as the Debtor's bankruptcy counsel.


GLYECO INC: Incurs $806,000 Net Loss in First Quarter
-----------------------------------------------------
GlyeCo, Inc., filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss of $805,910 on
$1.44 million of net sales for the three months ended March 31,
2016, compared to a net loss of $978,766 on $1.34 million of net
sales for the same period in 2015.

As of March 31, 2016, GlyeCo had $7.28 million in total assets,
$1.69 million in total liabilities and $5.58 million int total
stockholders' equity.

"We assess our liquidity in terms of our ability to generate cash
to fund our operating, investing and financing activities.
Significant factors affecting the management of liquidity are cash
flows generated from operating activities, capital expenditures,
and acquisitions of businesses and technologies.  Cash provided
from financing continues to be the Company's primary source of
funds.  We believe that we can raise adequate funds through
issuance of equity or debt as necessary to continue to support our
planned expansion.

"For the three months ended March 31, 2016 and 2015, net cash used
in operating activities was $387,771 and $1,332,367, respectively.
The decrease in cash used in operating activities is due to the
decrease in our net loss as well as significant period over period
decreases in the changes in inventories and accounts payable and
accrued expenses.  For the three months ended March 31, 2016, the
Company used $13,605 in cash for investing activities, compared to
the $95,893 used in the prior year's period.  These amounts were
comprised entirely of capital expenditures for equipment. For the
three months ended March 31, 2016 and 2015, we received $2,929,379
and $3,467,327, respectively, in cash from financing activities.
The decrease is due to the funds received from a private placement
offering in February 2015 exceeding the funds received from the
rights offering conducted in February 2016.

"As of March 31, 2016, we had $4,999,888 in current assets,
consisting of $3,804,690 in cash, $757,229 in accounts receivable,
$64,882 in prepaid expenses, and $373,087 in inventories.  Cash
increased from $1,276,687 as of December 31, 2015, to $3,804,690 as
of March 31, 2016, primarily due to the rights offering in February
2016.

"As of March 31, 2016, we had total current liabilities of
$1,664,503 consisting primarily of accounts payable and accrued
expenses of $1,505,838.  As of March 31, 2016, we had total
non-current liabilities of $146,888, consisting primarily of the
non-current portion of our capital lease obligations.

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

                      https://is.gd/6cXlJ5

                       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 available to common shareholders of
$12.5 million on $7.36 million of net sales for the year ended Dec.
31, 2015, compared to a net loss available to common shareholders
of $8.73 million on $5.89 million of net
sales for the year ended Dec. 31, 2014.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that
the Company has had recurring losses from operations, has negative
operating cash flows during the year ended Dec. 31, 2015, and has
an accumulated deficit of $34,550,503 as of Dec. 31, 2015.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


GOGO INC: S&P Assigns 'B-' CCR, Outlook Negative
------------------------------------------------
S&P Global Ratings assigned its 'B-' corporate credit rating to
Chicago, Ill.-based Gogo Inc.  The outlook is negative.

At the same time, S&P assigned a 'B-' issue-level rating and '3'
recovery rating to the company's proposed $500 million senior
secured notes.  The '3' recovery rating indicates S&P's expectation
for meaningful (50%-70%, upper half of the range) recovery in the
event of a payment default.  S&P also assigned a 'CCC' issue-level
rating and '6' recovery rating to the company's existing $362
million senior unsecured convertible notes due 2020. The '6'
recovery rating indicates S&P's expectation for negligible (0%-10%)
recovery in the event of a payment default.

The 'B-' rating on Gogo primarily reflects its very high pro forma
leverage of about 10x and S&P's expectation of negative free
operating cash flow (FOCF) for the next few years as its
international CA business reaches scale.  These factors are
somewhat tempered by the company's adequate liquidity position,
which pro forma for the proposed transaction will consist of $506
million in cash balances.  S&P believes liquidity should be
sufficient to fund FOCF deficits for the next several years and
potentially until the international CA business breaks even,
dependent on the stability of its current customer base and
continued momentum with international carriers.

"The negative rating outlook reflects risks concerning
international growth plans and our expectation that ongoing capital
expenditures from expansion activity will diminish the company's
current cash balance, possibly resulting in the need for external
financing in two to three years," said S&P Global Ratings credit
analyst Rose Askinazi.

S&P could lower the rating if growth does not materialize in the
company's global commercial business or if the company's North
America CA business underperforms S&P's base case due to increased
competition, leading to sustained negative FOCF and EBITDA interest
coverage approaching the low-1x area.  Under this scenario, S&P
would have less confidence in Gogo's ability to raise additional
capital in a timely manner and would consider the capital structure
unsustainable.  Although less likely over the next year, S&P could
lower the rating if the company's liquidity position becomes
constrained.

S&P could revise the outlook to stable if the company remains on a
path to generate positive FOCF and EBITDA interest coverage
improves to the high-1x area, while maintaining adequate liquidity.


GREAT LAKES COMNET: Asks Court to Extend Lease Decision Deadline
----------------------------------------------------------------
Great Lakes Comnet, Inc., et al., ask the U.S. Bankruptcy Court for
the Western District of Michigan to extend the time to assume or
reject unexpired leases of nonresidential real property.

The initial 120-day period for the Debtors to assume or reject
unexpired leases of nonresidential real property expires on May 24,
2016. It is nearly certain that the Deadline will pass before the
sale of the Debtors' asset can be closed.

If the Debtors' nonresidential real estate leases be rejected by
the passing of the Deadline, it would constitute a default under
the Asset Purchase Agreement, and relieve the buyer of its
obligation to close.

The Debtors request a 90-day extension of the Deadline, through and
including August 22, 2016, in order for the Debtors to complete the
sale of their assets.

Great Lakes Comnet, Inc. and its affiliated Debtors are represented
by:

     Jonathan S. Green, Esq.
     Stephen S. LaPlante, Esq.
     Ronald A. Spinner, Esq.
     MILLER, CANFIELD, PADDOCK AND STONE, P.L.C.
     150 West Jefferson, Suite 2500
     Detroit, MI 48226
     Tel: (313)496-7997
     Fax: (313)496-8478
     E-mail: greenj@millercanfield.com
             laplante@millercanfield.com
             spinnerr@millercanfield.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.


GREEN EARTH: Incurs $3.53 Million Net Loss in First Quarter
-----------------------------------------------------------
Green Earth Technologies, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $3.53 million on $31,000 of net sales for the three
months ended March 31, 2016, compared to a net loss of $3.72
million on $147,000 of net sales for the same period in 2015.

For the nine months ended March 31, 2016, Green Earth reported a
net loss of $2.71 million on $1.03 million of net sales compared to
a net loss of $5.44 million on $717,000 of net sales for the nine
months ended March 31, 2015.

As of March 31, 2016, Green Earth had $11.24 million in total
assets, $30.53 million in total liabilities and a total
stockholders' deficit of $19.28 million.

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

                       https://is.gd/pmbgES

                 About Green Earth Technologies

White Plains, N.Y.-based Green Earth Technologies, Inc. (OTC QB:
GETG) -- http://www.getg.com/-- markets, sells and distributes
bio-degradable performance and cleaning products.  The Company's
product line crosses multiple industries including the automotive
aftermarket, marine and outdoor power equipment markets.

Green Earth reported a net loss of $8.08 million on $766,000 of net
sales for the year ended June 30, 2015, compared to a net loss of
$6.84 million on $4.05 million of net sales for the year ended June
30, 2014.

Friedman LLP, in East Hanover, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company's losses, negative
cash flows from operations, working capital deficit, related party
note in default payable upon demand and its ability to pay its
outstanding liabilities through fiscal 2016 raise substantial doubt
about its ability to continue as a going concern.


GROW CONDOS: Incurs $104,000 Net Loss in Third Quarter
------------------------------------------------------
Grow Condos, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $103,622 on $29,084 of total revenues for the three months ended
March 31, 2016, compared to a net loss of $52,845 on $6,908 of
revenues for the same period in 2015.

For the nine months ended March 31, 2016, the Company reported a
net loss of $239,484 on $89,650 of total revenues compared to a net
loss of $212,599 on $31,608 of total revenues for the nine months
ended March 31, 2015.

As of March 31, 2016, the Company had $1.34 million in total
assets, $1.39 million in total liabilities and a total
shareholders' deficit of $50,323.

At March 31, 2016, the Company had cash on hand of $68,409.  The
Company said, this plus the April 2016 rents due is sufficient to
sustain the day to day operations of the Company for approximately
30 days.  It is not likely that operating revenues will increase in
the near future to a sufficient extent to cover the operating
expenses of the Company.  Therefore, it will be necessary to obtain
additional capital from the sale of equity or debt securities to
continue operations beyond 30 days.

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

                     https://is.gd/wxQlug

                       About Grow Condos

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

Grow Condos reported a net loss of $251,338 for the year ended June
30, 2015, following a net loss of $11.18 million for the year ended
June 30, 2014.

The Company's auditors John Scrudato CPA, Califon, New Jersey,
issued a "going concern" qualification on the consolidated
financial statements for the year ended June 30, 2015, citing that
"the Company operates with an industry that is illegal under
federal law, has yet to achieve profitable operations, has a
significant accumulated deficit and is dependent on its ability to
raise capital from stockholders or other sources to sustain
operations and to ultimately achieve viable profitable operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern."


HARROGATE INC: Fitch Affirms 'BB+' Ratings on 1997 Refunding Bonds
------------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on the following bonds
issued on behalf of Harrogate, Inc.:

-- $10,680,000 of New Jersey Economic Development Authority
    revenue refunding bonds, series 1997.

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a gross revenue pledge, a mortgage on
certain property and equipment and a debt service reserve fund.

KEY RATING DRIVERS

ILU OCCUPANCY CHALLENGES CONTINUE: Higher attrition rates over the
last two years and lower than budgeted move-ins led to Harrogate's
independent living unit (ILU) occupancy falling to a low 74% in
2015, from 78% in 2013. Management's 2016 budget assumes 38
move-ins. Fitch believes this is an aggressive target relative to
historical levels. However, given the recent sales success of
combined units and stabilization in Harrogate's marketing
department the 2016 sales goal is achievable.

WEAK OPERATING PROFITABILITY: The lower occupancy pressured
Harrogate's operating performance with a 111% operating ratio and a
8.1% net operating margin (NOM) adjusted in 2015 (based on draft
audit financials).

ADEQUATE LIQUIDITY: Liquidity is adequate for the rating level with
173 days cash on hand, 61% cash to debt and a 5.3x cushion ratio at
Feb. 29, 2016. However, Harrogate's unrestricted cash declined
nearly 40% in 2015 due to increased capital spending driven largely
by ILU consolidations. The spending down of the balance sheet for
capital should help address Harrogate's high age plant of 20 years,
one of the highest among Fitch's rated senior living facilities.

MANAGEABLE DEBT BURDEN: A key credit strength is Harrogate's
manageable debt burden with maximum annual debt service (MADS)
constituting only 7.9% of annual revenues, compared to Fitch's
'BBB' median of 12.4%. Given the stressed operations, Harrogate's
debt service coverage has weakened over the last two years and was
a thin 1.4x in 2015. However, given the lower debt burden even a
modest improvement in IL occupancy and unit sales should improve
coverage.

LONGER TERM CAPITAL PLANS: Harrogate is in the process of
developing a master facilities plan (MFP), which could include a
replacement of its health care center, as well as further apartment
consolidations and additions. The plan is in the early development
phase and Harrogate will likely wait until occupancy and
profitability have improved before proceeding with the project.

RATING SENSITIVITIES

OPERATING IMPROVEMENT EXPECTED: Harrogate management reports
improved sales momentum in early 2016, which, if continued, should
support stronger operating cash flow and better debt service
coverage for the year. Another year of weak net entrance fee
receipts and/or a material decline in liquidity would lead to a
downgrade.

CREDIT PROFILE

Harrogate is a type 'A' continuing care retirement community (CCRC)
located in Lakewood, New Jersey with 252 ILUs and 68 skilled
nursing facility (SNF) beds. Harrogate has a client services
agreement with Life Care Services (LCS). Total revenues in 2015
were $17 million.

WEAK OCCUPANCY AND PROFITABILITY

Harrogate's operating cash flows and profitability have been very
weak over the last three years, with NOM-adjusted averaging at 6.9%
from 2013 to 2015, and operating ratio averaging at 108.6% over the
same time period. Both ratios are very weak for the rating
category. Profitability has been impacted by weak occupancy, high
resident turnover and a low number of move-ins.

Harrogate's ILU occupancy fell to 74% in 2015, due to the attrition
of 38 residents and low move-ins of only 26 residents. As a result,
its net entrance fees for the year were a modest $2.6 million.
Management is projecting to receive $3.2 million in net entrance
fee receipts in 2016, which assumes 38 move-ins. Fitch considers
the move-in assumption aggressive given historical sales levels.
However, the higher sales budget is achievable as 2016 will be the
first full year that Harrogate operates with three full-time sales
counselors. Harrogate has experienced turnover in its sales
department over the last two years, and 2016 will be the first
whole year of operations with a fully staffed sales team.

DECLINED BUT ADEQUATE LIQUIDITY

Harrogate's unrestricted cash and investments of $7.1 million at
Feb. 29, 2016 equated to 173 days cash on hand, 61% cash to debt
and a 5.3x cushion ratio. Cash and investments declined from $14.2
million at Dec. 31, 2013 due to increased capital expenditures
(averaging 285% of depreciation) over the last two years. Fitch
views the increased capital spending positively, as Harrogate has
historically deferred major renovations, in order to maintain a
stronger balance sheet position, which has resulted in a very high
average age of plant of 22.7 years in 2014. Average age, while
still elevated, improved to 20 years through February of 2016.

Harrogate's balance sheet position has historically been considered
a credit strength, as it was more in line with Fitch's investment
grade medians. While Harrogate's current liquidity profile is
adequate for the 'BB+' rating level, its weak operating
profitability does not allow for further liquidity decline at the
current rating level.

MANAGEABLE DEBT BURDEN

Harrogate's MADS of $1.35 million equated to a manageable 7.9% of
total 2015 revenues as compared to the 'BBB' category median of
12.4%. Harrogate's debt to net available of 6.2x was also solid for
the rating category. Although Harrogate's overall debt burden
remains manageable, its weak operating profitability over the last
two years resulted in low debt service coverage of just 1.4x in
2015 and 1.2x in 2014.

LONGER-TERM CAPITAL PLANS

Harrogate's deferred capital spending over the years has resulted
in an elevated average age of plant of 20.8 year in 2015. Harrogate
began to address the high average age of plant with a number of
apartment consolidations starting in 2014. To date, 13 apartment
combinations have been completed and up to two more combinations
are expected. Out of the completed combinations, 10 have been sold
and occupied. Fitch believes that the apartment combination
initiative is necessary for Harrogate to satisfy market demand and
stay competitive in its service area.

Harrogate is in the process of developing a master facilities plan
(MFP), which could include a replacement of its health care center,
as well as, further apartment consolidations and additions. The
plan is in the early development phase and Harrogate's board will
likely wait until occupancy and profitability have improved prior
to approval.

DEBT PROFILE

The 1997 bonds are fixed rate with a level debt service and MADS of
$1.35 million. There are no swaps outstanding.

DISCLOSURE

Harrogate provides its annual financial statements to the Municipal
Securities Rulemaking Board's EMMA system, along with regularly
scheduled disclosure calls to bondholders. Fitch reports that
disclosure has been timely and complete, with good access to
management.


HCSB FINANCIAL: Amends 23.4 Million Shares Prospectus with SEC
--------------------------------------------------------------
HCSB Financial Corporation filed an amended Form S-1 registration
statement with the Securities and Exchange Commission relating to
the offering of up to 23,384,301 shares of its common stock, par
value $0.01 per share, at a price of $0.10 per share.  The Company
amended the registration statement to delay its effective date.

The Company is conducting the offering in connection with the
recent completion of a private placement transaction pursuant to
which the Company issued 359,468,443 shares of its common stock at
$0.10 per share and 905,315.57 shares of a new series of
convertible perpetual non-voting preferred stock, Series A, par
value $0.01 per share, at $10.00 per share for cash proceeds of $45
million.  The Company is now conducting this offering primarily to
provide its legacy shareholders, employees and others in its
community with an opportunity to invest in the Company at the same
offering price of $0.10 per share that it offered to the investors
in the private placement, although the Company reserves the right
to permit other persons to invest, including the investors from the
private placement.

A minimum investment of $10,000 is required to purchase shares in
the offering, which requirement the Company may waive in its sole
discretion.

The Company's common stock is quoted on the OTC Pink marketplace
under the symbol "HCFB".  On May [_], 2016, the closing price of
the Company's common stock as reported by the OTC Pink marketplace
was $[____] per share.

A full-text copy of the Form S-1/A is available for free at:

                      https://is.gd/92j5nR

                      About HCSB Financial

Loris, South Carolina-based HCSB Financial Corporation was
incorporated on June 10, 1999, to become a holding company for
Horry County State Bank.  The Bank is a state chartered bank which
commenced operations on Jan. 4, 1988.  From its 13 branch
locations, the Bank offers a full range of deposit services,
including checking accounts, savings accounts, certificates of
deposit, money market accounts, and IRAs, as well as a broad range
of non-deposit investment services.  During the third quarter of
2011, the Bank closed its Covenant Towers branch located at Myrtle
Beach.  All deposits were transferred to the Bank's Myrtle Beach
branch and the Bank does not expect any disruption of service in
that market for its customers.

HCSB Financial reported a net loss available to common shareholders
of $1.75 million on $13.7 million of total interest income for the
year ended Dec. 31, 2015, compared to a net loss available to
common shareholders of $1.40 million on $16.09 million of total
interest income for the year ended Dec. 31, 2014.

As of March 31, 2016, HCSB Financial had $363 million in total
assets, $378 million in total liabilities and a total shareholders'
deficit of $14.6 million.

Elliott Davis Decosimo, LLC, in Columbia, South Carolina, 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 that have eroded regulatory
capital ratios and the Company's wholly owned subsidiary, Horry
County State Bank, is under a regulatory Consent Order with the
Federal Deposit Insurance Corporation (FDIC) that requires, among
other provisions, capital ratios to be maintained at certain
levels.  As of December 31, 2015, the Company's subsidiary is
considered significantly undercapitalized based on its regulatory
capital levels.  These considerations raise substantial doubt about
the Company's ability to continue as a going concern.  The Company
also has deferred interest payments on its junior subordinated
debentures for 20 consecutive quarters as of December 31, 2015.
Under the terms of the debentures, the Company may defer payments
for up to 20 consecutive quarters without creating a default.
Payment for the 20th quarterly interest deferral period was due in
March 2016.  The Company failed to pay the deferred and compounded
interest at the end of the deferral period, and the trustees of the
corresponding trusts, have the right, after any applicable grace
period, to exercise various remedies, including demanding immediate
payment in full of the entire outstanding principal amount of the
debentures.  The balance of the debentures and accrued interest as
of December 31, 2015 were $6,186,000 and $901,000, respectively.
These events also raise substantial doubt about the Company's
ability to continue as a going concern as of December 31, 2015.


HILLCREST INC: CCSB Buying Back 5,330 Shares at $10 Apiece
----------------------------------------------------------
Hillcrest Inc, on May 13, 2016, filed with the U.S. Bankruptcy Corp
for the Western District of Missouri, an amended emergency motion
to sell 5,330 shares of CCSB Financial Corp., the parent company of
Clay County Savings Bank.

The Debtor owns 5,330 shares of CCSB.  The shares are encumbered by
a lien for a disputed amount to Bond Purchase, LLC ("Creditor")
that Debtor listed for $10 per share.  CCSB has offered Debtor to
purchase the shares for $10 per share.

That Debtor needs to sell the shares to reorganize.

That Debtor seeks to sell the Shares free and clear of all liens,
with the proceeds paid to Bond Purchase, with the proceeds applied
first to the lien against the stock and then to the lien against
the building (the real estate as listed in Schedule A/B).

That Debtor is preparing an adversary case to determine the amount,
if any, of the liens against both the stock and the building.

Bond Purchase has filed a Motion to Lift Stay which is pending
before the Court.  In order to maximize the value of selling the
share by reducing the cost, the Debtor believes it should be
allowed to sell the Shares directly.

The Debtor requests that the Court rule on the face of the Motion
or set the matter for an expedited hearing.

Hillcrest Inc. is represented by:

         Susan Bratche
         1201 NW Briarcliff Parkway, Suite 239
         Kansas City, MO 64116
         Tel: (816) 453-2240
         Fax: (816) 455-6597
         E-mail: bratcherlaw@gmail.com          

                       About Hillcrest Inc.

Hillcrest Inc. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Mo. Case No. 16-40054) on January 12, 2016. The
Debtor is represented by Randall L. Robb, Esq.  The Debtor
estimated less than $50,000 in assets and debt.


HOTI ENTERPRISES: Final Decree Closing Ch. 11 Cases Affirmed
------------------------------------------------------------
Judge Nelson S. Roman of the United States District Court for the
Southern District of New York affirmed the bankruptcy court's Final
Decree and Order closing the Chapter 11 cases of the debtors Hoti
Enterprises, L.P. and Hoti Realty Management Co., Inc.

The case is IN RE: HOTI ENTERPRISES, L.P., and HOTI REALTY
MANAGEMENT CO., INC., Debtors. HOTI ENTERPRISES, L.P., and HOTI
REALTY MANAGEMENT CO., INC., Appellants, v. GECMC 2007 C-1 Burnett
Street, LLC, Appellee, No. 15-cv-4093 (NSR) (S.D.N.Y.).

On April 13, 2015, upon the motion of GECMC 2007 C-1 Burnett
Street, LLC, and having received the opposition and objection of
Hoti Enterprises, L.P., and Hoti Realty Management Co., Inc., and
having held a hearing on the motion on April 10, 2015, the United
States Bankruptcy Court for the Southern District of New York
issued a Final Decree and Order Closing the debtors' Chapter 11
Cases.

A full-text copy of Judge Roman's May 6, 2016 opinion and order is
available at https://is.gd/J8eC07 from Leagle.com.

Hoti Enterprises, L.P., Hoti Realty Management Co., Inc. are
represented by:

          Marc Edward Verzani, Esq.
          LAW OFFICES OF MARC E. VERZANI
          27 East 21st Street, 9th Floor
          New York, NY 10010
          Tel: (212)725-8900
          Fax: (212)725-8911
          
GECMC 2007 C-1 Burnett Street, LLC is represented by:

          George B. South, III, Esq.
          DLA PIPER LLP
          1251 Avenue of the Americas
          New York, NY 10020-1104
          Tel: (212)335-4500
          Fax: (212)335-4501
          Email: george.south@dlapiper.com

                    About Hoti Enterprises

Harrison, New York-based Hoti Enterprises, LP, is a single asset
real estate holding company that owns an apartment complex located
at 2801 Fillmore Avenue, 3001 Avenue R and 2719 Fillmore Avenue --
collectively, known as 1865 Burnett Street -- in Brooklyn, New
York.  Hoti Realty Management Co., Inc., was in the business of
owning and operating a management company that managed the
apartment complex.

Hoti filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 10-24129) on Oct. 12, 2010.  Hoti Enterprises estimated
its assets and debts at $10 million to $50 million.  Tanya Dwyer,
Esq., at Dwyer & Associates, LLC, in New York, represents the
Debtors as counsel.

Affiliate Hoti Realty Management Co., Inc. also filed a Chapter 11
petition (Bankr S.D.N.Y. Case No. 10-24130) on the same day,
listing under $1 million in both assets and debts.

A receiver of rents was appointed against Hoti Enterprises pre-
bankruptcy pursuant to a foreclosure proceeding commenced by GECMC
2007-C-1 Burnett Street, Hoti's mortgagee and largest secured
creditor.

No Official Committee of Unsecured Creditors has been appointed in
the case.


HYPNOTIC TAXI: Citibank Suit Evidentiary Hearing Set for July 27
----------------------------------------------------------------
Judge Carla E. Craig of the United States Bankruptcy Court for the
Eastern District of New York issued an order amending the
bankruptcy court's April 29, 2016 Decision and Order Denying Motion
for Protective Order and Scheduling Discovery, Pre-Trial
Submissions, and Hearing entered on May 2, 2016 in the adversary
proceeding captioned CITIBANK, N.A., Plaintiff, v. BOMBSHELL TAXI
LLC, et al., Defendants, Adv. No. 15-01185 (CEC) (Bankr.
E.D.N.Y.).

The order stated that the Petition as supplemented, the Alter-Ego
Motion, and the Motion to Declare Levies Effective shall be heard
July 27, 2016 at 9:30 a.m., and that the rescheduled hearing shall
be an evidentiary hearing.

The bankruptcy case is In re: HYPNOTIC TAXI LLC, et al., Chapter
11, Debtors, Case No. 15-43300 (CEC) Jointly Administered (Bankr.
E.D.N.Y.).

A full-text copy of Judge Craig's May 9, 2016 order is available at
https://is.gd/5Hhf4Y from Leagle.com.

Citibank, N.A. is represented by:

          Robert Guttmann, Esq.
          Nathan Schwed, Esq.
          ZEICHNER ELLEMAN & KRAUSE LLP
          1211 Avenue of the Americas, 40th Floor
          New York, NY 10036
          Tel: (212)223-0400
          Fax: (212)753-0396
          Email: rguttman@zeklaw.com
                 nschwed@zeklaw.com

Bombshell Taxi LLC is represented by:

          Fred Stevens, Esq.
          KLESTADT WINTERS JURELLER SOUTHARD & STEVENS, LLP
          200 West 41st Street, 17th Floor
          New York, NY 10036
          Tel: (212)972-3000
          Fax: (212)972-2245
          Email: fstevens@klestadt.com

Hypnotic Taxi LLC IS represented by:

          Maeghan McLoughlin, Esq.
          KLESTADT WINTERS JURELLER SOUTHARD & STEVENS, LLP
          200 West 41st Street, 17th Floor
          New York, NY 10036
          Tel: (212)972-3000
          Fax: (212)972-2245

Taxi Club Management, Inc. is represented by:

          Hal L Baume, Esq.
          FOX ROTHSCHILD LLP
          997 Lenox Drive, Building 3
          Princeton Pike Corporate Center
          Lawrencevill NJ 08648-2311
          Tel: (609)896-3600
          Fax: (609)896-1469
          Email: hbaume@foxrothschild.com

            -- and --

          Brett A Berman, Esq.
          FOX ROTHSCHILD LLP
          2000 Market St., 20th Floor
          Philadelphia PA 19103-3222
          Tel: (215)299-2000
          Fax: (215)299-2150
          Email: bberman@foxrothschil.com

Evgeny Friedman is represented by:

          Matthew S Adams, Esq.
          FOX ROTHSCHILD, LLP
          75 Eisenhower Parkway, Suite 200
          Roseland NJ 07068-1600
          Tel: (973)992-4800
          Fax: (973)992-9125
          Email: madams@foxrothschild.com

            -- and --

          Hal L Baume, Esq.
          FOX ROTHSCHILD LLP
          997 Lenox Drive, Building 3
          Princeton Pike Corporate Center
          Lawrencevill NJ 08648-2311
          Tel: (609)896-3600
          Fax: (609)896-1469
          Email: hbaume@foxrothschild.com

The Lindy Funding Trust is represented by:

          Paul S. Hollander, Esq.
          Margreta M Morgulas, Esq.
          OKIN HOLLANDER LLC
          Teaneck, NJ
          Tel: (201)947-7500

Capital One Equipment Finance Corp., f/k/a Capital One Taxi
Medallion Finance, a trade name for All Points Capital Corp. is
represented by:

          Scott Koerner, Esq.
          TROUTMAN SANDERS LLP
          875 Third Avenue
          New York, NY 10022
          Tel: (212)704-6000
          Fax: (212)704-6288
          Email: scott.koerner@troutmansanders.com

Sterling National Bank is represented by:

          Daniel F Flores, Esq.
          WILSON ELSER MOSKOWITHZ ET AL.
          150 East 42nd Street
          New York, NY 10017
          Tel: (212)490-3000
          Fax: (212)490-3038
          Email: daniel.flores@wilsonelser.com

Official Committee of Unsecured Creditors of Hypnotic Taxi, LLC and
affiliated Debtors is represented by:

          Sedgwick M Jeanite, Esq.
          WHITE AND WILLIAMS LLP
          7 Times Square, Suite 2900
          New York, NY 10036-6524
          Tel: (212)244-9500
          Fax: (212)244-6200
          Email: jeanites@whiteandwilliams.com

Official Committee of Unsecured Creditors is represented by:

          Allen G. Kadish, Esq.
          DICONZA TRAURIG KADISH LLP
          630 Third Avenue
          New York, NY 10017
          Tel: (212)682-4940
          Fax: (212)682-4942
          Email: akadish@dtklawgroup.com

                    About Hypnotic Taxi

Hypnotic Taxi LLC and 21 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D.N.Y. Lead Case No. 15-43300) on
July 22, 2015.  The petition was signed by Evgeny Freidman as sole
and managing member.

The Debtors are either limited liability companies or corporations
organized under the laws of the State of New York.  The Debtors
maintain an office at 330 Butler Street, Brooklyn, New York 11217.
The Debtors each own either two or three New York City Medallions
issued by the New York City Taxi and Limousine Commission ("TLC")
and related Taxi Vehicles.  The Debtors collectively own 46
Medallions and Taxi Vehicles.

Klestadt Winters Jureller Southard & Stevens LLP serves as the
Debtors' counsel.  Judge Carla E. Craig presides over the case.

The Debtors each own either two or three medallions issued by the
New York City Taxi and Limousine Commission that permit taxi
services to be performed by the Debtors.

Hypnotic Taxi LLC disclosed total assets of $1,941,314 and total
liabilities of $2,825,401 as of the Petition Date.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.  The Committee
tapped White & Williams LLP as counsel and EisnerAmper as its
accountants and financial advisors.


ICAGEN INC: Needs More Time to File March 31 Form 10-Q
------------------------------------------------------
Icagen, Inc., was unable to file its quarterly report on Form 10-Q
for its quarter ended March 31, 2016, by the prescribed date
without unreasonable effort or expense because the Company was
unable to compile and review certain information required in order
to permit the Company to file a timely and accurate report on the
Company's financial condition.  The Company believes that the
quarterly report will be completed and filed within the fifth day
extension period provided under Rule 12b-25 of the Securities
Exchange Act of 1934, as amended.

                         About Icagen

Icagen, Inc., formerly known as XRpro Sciences, Inc., is a
biopharmaceutical company, focuses on the discovery, development,
and commercialization of orally-administered small molecule drugs
that modulate ion channel targets.  Its drug candidates include
ICA-105665, a small molecule compound that targets specific KCNQ
ion channels for the treatment of epilepsy and pain, which is in
Phase II clinical trial stage; and a compound that targets the
sodium channel Nav1.7 for the treatment of pain, which is in Phase
I clinical trial stage.

Icagen reported a net loss applicable to common stock of $8.72
million on $1.58 million of sales for the year ended Dec. 31, 2015,
compared to a net loss applicable to common stock of $569,288 on
$541,794 of sales for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Icagen had $12.9 million in total assets,
$11.2 million in total liabilities, $133,350 in convertible
redeemable preferred stock, and $1.57 million in total
stockholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2015, citing that the Company has incurred recurring operating
losses, which has resulted in an accumulated deficit of
approximately $22.143 million at Dec. 31, 2015.  These conditions
among others raise substantial doubt about the Company's ability to
continue as a going concern.


IMPLANT SCIENCES: Incurs $4.09 Million Net Loss in Third Quarter
----------------------------------------------------------------
Implant Sciences Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.09 million on $10.92 million of total revenues for the three
months ended March 31, 2016, compared to a net loss of $5.73
million on $3.30 million of total revenues for the same period in
2015.

For the nine months ended March 31, 2016, Implant Sciences reported
a net loss of $8.32 million on $35.60 million of total revenues
compared to a net loss of $17.35 million on $7.31 of total revenues
for the nine months ended March 31, 2015.

As of March 31, 2016, Implant Sciences had $15.64 million in total
assets, $100.21 million in total liabilities and a total
stockholders' deficit of $84.56 million.

As of March 31, 2016 and June 30, 2015, the Company had cash and
cash equivalents of $280,000 and $1,985,000, respectively.  The
Company will be required to repay all unpaid principal and interest
under borrowings from DMRJ and Montsant, in the aggregate amount of
$60,038,000 as of May 6, 2016 under (i) a senior secured promissory
note dated July 1, 2009 and (ii) a credit agreement dated Sept. 4,
2009, on June 30, 2016, and will be required to repay our
borrowings to (i) Montsant under an amended and restated senior
secured convertible promissory note dated March 12, 2009, (ii) DMRJ
under a senior secured convertible promissory note dated Sept. 5,
2012, and (iii) to DMRJ under a senior secured convertible
promissory note dated Feb. 28, 2013.

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

                      https://is.gd/PhafQv

                     About Implant Sciences

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

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


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

                      About Infrax Systems

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

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


INTERVENTION ENERGY: Case Summary & Unsecured Creditor
------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                      Case No.
      ------                                      --------
      Intervention Energy Holdings, LLC           16-11247
      475 17th Street, Suite 1040
      Denver, CO 80202

      Intervention Energy, LLC                    16-11248

Type of Business: Oil and Gas

Chapter 11 Petition Date: May 20, 2016

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Kevin J. Carey

Debtors' Counsel: Stuart M. Brown, Esq.
                  DLA PIPER LLP (US)
                  1201 North Market Street, Suite 2100
                  Wilmington, DE 19801
                  Tel: 302-468-5640
                  Fax: 302-778-7913
                  E-mail: stuart.brown@dlapiper.com

                     - and -

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

Debtors'
Investment
Banker:           PJT PARTNERS LP
                  280 Park Avenue
                  New York, NY 10017

Debtors'          
Claims/
Noticing
Agent:            OMNI MANAGEMENT GROUP, LLC

Estimated Assets: $100 million to $500 million

Estimated Debts: $100 million to $500 million

The petitions were signed by John R. Zimmerman, president.

Intervention Energy Holdings listed Statoil Oil & Gas LP as its
largest unsecured creditor holding a trade claim of $3.80 million.

A full-text copy of Holdings' petition is available for free at:

              http://bankrupt.com/misc/deb16-11247.pdf


ISIGN SOLUTIONS: Incurs $2.43 Million Net Loss in First Quarter
---------------------------------------------------------------
iSign Solutions Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $2.43 million on $276,000 of
total revenue for the three months ended March 31, 2016, compared
to a net loss attributable to common stockholders of $2.26 million
on $446,000 of total revenue for the same period in 2015.

As of March 31, 2016, iSign had $1.29 million in total assets,
$4.43 million in total liabilities and a total deficit of $3.13
million.

At March 31, 2016, cash and cash equivalents totaled $313,000
compared to cash and cash equivalents of $846,000 at Dec. 31, 2015.
The decrease in cash was primarily due to cash used in operating
activities of $533,000.  At March 31, 2016, total current assets
were $727,000 compared to total current assets of $1,312,000 at
Dec. 31, 2015.  At March 31, 2016, the Company's principal sources
of funds included its cash and cash equivalents aggregating
$313,000.

At March 31, 2016, accounts receivable net, was $61,000, a decrease
of $33,000 or 35%, compared to accounts receivable net of $94,000
at Dec. 31, 2015.  The decrease is due primarily to the decrease in
product sales during the quarter ended March 31, 2016, compared to
the quarter ended Dec. 31, 2015.

At March 31, 2016, prepaid expenses and other current assets were
$353,000 a decrease of $19,000 or 5%, compared to prepaid expenses
and other current assets of $372,000 at Dec. 31, 2015.  The
increase is due primarily to the prepayment related to the public
offering of the Company's Common Stock expected to close in the
second quarter of 2016.

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

                     https://is.gd/OWItv9

                          ABOUT iSIGN

iSIGN (formerly known as Communication Intelligence Corporation or
CIC) is a provider of digital transaction management (DTM) software
enabling fully digital (paperless) business processes. iSIGN's
solutions encompass a wide array of functionality and services,
including electronic signatures, simple-to-complex workflow
management and various options for biometric authentication.  These
solutions are available across virtually all enterprise, desktop
and mobile environments as a seamlessly integrated software
platform for both ad-hoc and fully automated transactions.  iSIGN's
software platform can be deployed both on-premise and as a
cloud-based service, with the ability to easily transition between
deployment models.  iSIGN is headquartered in Silicon Valley.  For
more information, please visit the Company's Web site at
www.isignnow.com.  iSIGN's logo is a trademark of iSIGN.

iSign Solutions reported a net loss attributable to common
stockholders of $7.61 million on $1.62 million of revenue for the
year ended Dec. 31, 2015, compared to a net loss attributable to
common stockholders of $7.37 million on $1.51 million of revenue
for the year ended Dec. 31, 2014.

Armanino LLP, in San Ramon, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company's significant
recurring losses and accumulated deficit raise substantial doubt
about its ability to continue as a going concern.


JAKAYS SALON: Wants June 20 Exclusive Plan Filing Deadline
----------------------------------------------------------
JaKay's Salon and Day Spa, Inc., asks the U.S. Bankruptcy Court for
the Western District of Pennsylvania to extend until June 20, 2016,
the time for the Debtor to exclusively file a Chapter 11 plan and
Disclosure Statement.

The Debtor previously sought and was granted an extension of time
to file the Chapter 11 Plan and Disclosure Statement until May 20,
2016.

The Debtor continues to operate and has shown profits since the
filing of the Chapter 11 case.  It has met all operating
requirements since the filing of the Chapter 11 case.

The Debtor and its counsel believe that it is possible to file a
consensual Plan with all creditors in this case, and that an
extension of time of 30 days will allow them to fully negotiate and
prepare a consensual Plan.

The Debtor tells the Court that if it is unable to file a
consensual Plan with all creditors within that 30 day period, the
Debtor will file a Plan without the consent of all creditors.  The
Debtor assures the Court that no creditors or parties in interest
will be prejudiced by extending the time to file a Chapter 11 Plan
and Disclosure Statement by 30 days until June 20, 2016.

JaKay's Salon & Day Spa, Inc., filed a Chapter 11 petition (Bankr.
W.D. Penn. Case No. 15-23478) on September 23, 2015, listing under
$1 million in both assets and liabilities.  A copy of the petition
is available at http://bankrupt.com/misc/pawb15-23478.pdf The  
Debtor is represented by Christopher M. Frye, Esq., at Steidl &
Steinberg.


JUMIO INC: Court Approves Sale of Assets to Centana
---------------------------------------------------
Jumio Inc. wins the Bankruptcy Court's authority to sell its assets
to Jumio Buyer, Inc.

The Troubled Company Reporter, citing Daily Bankruptcy Review,
reported that the Delaware bankruptcy judge approved the deal
following an auction in which the New York-based private-equity
firm won the right to buy Jumio's business.  Jumio chose Centana's
$850,000 offer over a much larger offer from Facebook co-founder
Eduardo Saverin, which the company's shareholders vehemently
opposed.

The Debtor's assets include the Debtor's equity interest in the
Acquired Subsidiaries: (a) Jumio Software Development GmbH, and (b)
a 51% interest in an Indian venture, Jumio India Private Limited.

The Official Committee of Equity Security Holders opposed the sale
of the Debtor's claims against Eduardo Saverin and the current
Board members because Mr. Saverin has infused additional capital
into the Debtor in the form of secured convertible notes, which is
unusual for convertible note financings in technology start-ups to
be secured by collateral, there is no real benefit for an investor
to provide secured financing to a tech start-up unless he is
seeking to ultimately credit bid such position in a going concern
sale, that is, "loan to own".

The Equity Committee also complained of Mr. Saverin's continued
seat on the Board, allowing the company to run out of money, and
now, seeking to "acquire" all of the Debtor's causes of action
against himself, Scott Weiss, and Peng Ong -- trying to cleanse
himself and the other directors from derivative claim liability
relating to the accounting fraud, and flaunting the chapter 11
process with his attempt to credit bid claims subject to challenge
and his proposed oppressive postpetition financing.

In addition, the Equity Committee said it has discovered that over
$5 million of the purported $15.5 million in "secured debt" is
actually a roll-up of previously issued unsecured notes and not
"new money" extended at the time of the secured note issuance --
the grant of the lien to secure those previously unsecured amounts
is a garden-variety insider preference. Thus, the Committee
maintains that conversion to chapter 7 would be preferable to
approving the stalking horse sale as presented.

The Debtor disagreed with the demands of the Equity Committee,
asking the Court to liquidate the Debtor rather than approve the
Stalking Horse Bid and sale to Jumio Acquisition,LLC, without any
regard for the harm that liquidation will visit on each of the
Debtor's other stakeholders.  The Debtor said the Equity Committee
have nothing to lose because equity is completely "out of the
money" -- all that the Equity Committee wants now is to destroy the
Debtor's business in exchange for the prospect that a Chapter 7
trustee might be able to pursue hypothetical claims against Mr.
Saverin, the Debtor pointed out.

Jumio Acquisition asserted that the Equity Committee has left out
the essential point that the Prepetition Secured Notes has been
offered and negotiated to all shareholders with terms favorable to
the Company and documented as indebtedness secured by perfected
liens and security interests, but none of the members of the Equity
Committee purchased the Prepetition Secured Notes.  According to
Jumio Acquisition, only Mr. Saverin and Andreessen Horowitz Fund
II, L.P. purchased the Prepetition Secured Notes -- putting
additional capital at risk to sustain the Debtor -- while the
handful of equity holders who are behind the Equity Committee are
only willing to accept the benefits of these notes, but they are
not willing to incur the risk and invest themselves, considering
that the best measure of the value of the Debtor and the claims it
owns is from the auction process.  But the Equity Committee only
wants Jumio Acquisition to finance a limitless investigation of Mr.
Saverin -- they are only seeking to extort money to which they are
not entitled, and are willing to jeopardize the survival of the
Debtor and the hundreds of jobs it supports, Jumio Acquisition told
the Court.

Jumio Inc. is represented by:

       Adam G. Landis, Esq.
       Kerri K. Mumford, Esq.
       Kimberly A. Brown, Esq.
       LANDIS RATH & COBB LLP
       919 Market Street, Suite 1800
       Wilmington, Delaware 19801
       Telephone: (302) 467-4400
       Facsimile: (302) 467-4450
       Email: landis@lrclaw.com
              mumford@lrclaw.com
              brown@lrclaw.com

Counsel for Eduardo Saverin and Jumio Acquisition, LLC:

       Michael R. Nestor, Esq.
       Sean M. Beach, Esq.
       YOUNG CONAWAY STARGATT & TAYLOR, LLP
       Rodney Square
       1000 North King Street
       Wilmington, Delaware 19801
       Telephone: (302) 571-6600
       Facsimile: (302) 571-1253
       E-Mail: mnestor@ycst.com
               sbeach@ycst.com

       -- and --

       Peter M. Gilhuly, Esq.
       Ted A. Dillman, Esq.
       LATHAM & WATKINS LLP
       355 South Grand Avenue
       Los Angeles, CA 90071-1560
       Telephone: (213) 485-1234
       Facsimile: (213) 891-8763
       E-Mail: peter.gilhuly@lw.com
               ted.dillman@lw.com

Counsel to the Official Committee of Equity Security Holders:

       Laura Davis Jones, Esq.
       Jeffrey N. Pomerantz, Esq.
       Peter J. Keane, 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
       Email: ljones@pszjlaw.com
              jpomerantz@pszjlaw.com
              pkeane@pszjlaw.com

       -- and --

       Michael B. Lubic, Esq.
       John H. Culver III, Esq.
       Sven T. Nylen, Esq.
       K&L GATES LLP
       10100 Santa Monica Blvd., 8th Floor
       Los Angeles, CA 90067
       Telephone: (310) 552-5000
       Facsimile: (310) 552-5001
       Email: michael.lubic@klgates.com
              john.culver@klgates.com
              sven.nylen@klgates.com

           About Jumio

Headquartered in Palo Alto, California, Jumio is an online and
mobile identity management and credentials authentication company.
Its customers include, among others, Airbnb, United Airlines,
WorldRemit, EasyJet, and Duolingo.  Jumio has operations in the
United States, Europe and India.  Jumio employs 43 individuals.

Jumio Inc. filed a Chapter 11 bankruptcy petition (Bankr. D. Del.
Case No. 16-10682) on March 21, 2016.  The petition was signed by
Stephen Stuut as chief financial officer.  The Debtor estimated
assets in the range of $1 million to $10 million and debts of up to
$50 million.  Judge Brendan Linehan Shannon has been assigned the
case.

The Debtor has engaged Landis Rath & Cobb LLP as bankruptcy
counsel, Wilmer Cutler Pickering Hale and Dorr LLP as special
corporate counsel, Ernst & Young LLP as financial advisor, Sagent
Advisors, LLC as investment banker, Cooley LLP as special SEC
counsel and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.

In April 2016, Andrew Vara, acting U.S. trustee for Region 3,
appointed Buttonwood Alpha QP Fund LLC and four others to serve on
the committee of equity security holders in the Debtor's Chapter 11
case.  The U.S. Trustee, however, indicated in a court filing that
no official committee of unsecured creditors has been appointed in
the case.


L. SCOTT APPAREL: Evidentiary Hearing Set for June 22
-----------------------------------------------------
Judge Robert Kwan of the United States Bankruptcy Court for the
Central District of California, Los Angeles Division, has
determined that an evidentiary hearing is required on the motion
filed by plaintiff Howard Grobstein, Liquidating Trustee of L.
Scott Apparel Inc. Bankruptcy Liquidating Trust, in the adversary
proceeding captioned Howard Grobstein as Liquidating Trustee of L.
Scott Apparel, Inc., Plaintiff, v. Lowell S. Sharron, an
individual; Beyond Basics, LLC dba Daily Threads, a California
limited liability company; and DOES 1-10, inclusive, Defendants,
Adv. No. 2:15-ap-01122-RK (Bankr. C.D. Cal.).

The plaintiff's motion is for: (1) orders for issuance of writs of
attachment against the defendants and (2) issuance of preliminary
injunction freezing assets of Lowell S. Sharron pending conclusion
of litigation.  The motion relates to two applications, both for
right to attach orders and orders for issuance of writs of
attachment filed against the defendants Lowell Sharron and Beyond
Basics, LLC, dba Daily Threads.

Judge Kwan ordered that the hearings on the plaintiff's motion and
the applications are continued to June 22, 2016 at 9:00 a.m. for an
evidentiary hearing in Courtroom 1675 at 255 East Temple Street,
Los Angeles, California 90012.  The court judge scheduled a one-day
evidentiary hearing from 9:00 a.m. to 12 noon and 1:30 p.m. to 4:30
p.m.

A full-text copy of Judge Kwan's May 9, 2016 order is available at
https://is.gd/TIhELd from Leagle.com.

The bankruptcy case is In re: L. Scott Apparel, Inc., Chapter 11,
Debtor, No. 2:13-bk-26021-RK (Bankr. C.D. Cal.).

Howard Grobstein as Liquidating Trustee of L. Scott Apparel Inc.,
Plaintiff, represented by:

          Brian L Davidoff, Esq.
          Courtney E Pozmantier, Esq.
          Lori L Werderitch, Esq.
          GREENBERG GLUSKER
          1900 Avenue of the Stars, 21st Floor
          Los Angeles, CA 90067
          Tel: (310)553-3610
          Email: bdavidoff@greenbergglusker.com
                 cpozmantier@greenbergglusker.com
                 lwerderitch@greenbergglusker.com

Lowell S. Sharron is represented by:

          Lloyd S Mann, Esq.
          15233 Ventura Bld, Suite 714
          Sherman Oaks, CA 91403
          Tel: (818)789-0510
          Fax: (818)789-0518


LATTICE INC: Incurs $234,000 Net Loss in First Quarter
------------------------------------------------------
Lattice Incorporated filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
available to common shareholders of $234,071 on $2.43 million of
revenue for the three months ended March 31, 2016, compared to a
net loss available to common shareholders of $712,536 on $1.51
million of revenue for the three months ended March 31, 2015.

As of March 31, 2016, Lattice had $3.63 million in total assets,
$11.15 million in total liabilities and a total shareholders'
deficit of $7.52 million.

At March 31, 2016, the working capital deficit was approximately
$7,089,000, compared to a working capital deficit of approximately
$7,059,000 at Dec. 31, 2015.

Cash and cash equivalents decreased to approximately $101,000 at
March 31, 2016, from approximately $187,000 at Dec. 31, 2015.

Net cash used in operating activities was approximately $404,000
for the quarter ended March 31, 2016.  The net cash used in
operating activities was comprised of an adjusted operating income
of $180,000, a Non-GAAP measure, offset by cash interest paid of
approximately $104,000 and an increase in net operating assets and
liabilities of approximately $470,000.

Net cash used in investing activities was approximately $2,000 for
the quarter ended March 31, 2016 compared to net cash used in
investing activities of approximately $21,000 in the prior year
period.

Net cash provided by financing activities was approximately
$327,000 for the quarter ended March 31, 2016, and consisted of net
proceeds of $353,000 received on Purchase Order financing during
the quarter which was offset by principal repayments on outstanding
loans and capital leases totaling approximately $26,000.

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

                     https://is.gd/bEuphB

                       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 reported a net loss available to common shareholders of
$5.55 million on $7.58 million of revenue for the year ended Dec.
31, 2015, compared to a net loss available to common shareholders
of $1.82 million on $8.94 million of revenue for the year ended
Dec. 31, 2014.

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, 2015, citing that
the Company has a working capital deficit and requires additional
working capital to meet its current liabilities.  These factors
raise substantial doubt about the Company's ability to continue as
a going concern.


LEARFIELD COMMUNICATIONS: S&P Retains 'B' Rating on Sr. Sec. Loan
-----------------------------------------------------------------
S&P Global Ratings said that its 'B' issue-level rating and '3'
recovery rating on Learfield Communications Inc.'s senior secured
first-lien term loan due 2020 are unchanged following the company's
announcement that it has upsized the debt to
$426 million from $376 million.  The company intends to use the
proceeds to repay the remainder of its second-lien term loan.  The
'3' recovery rating indicates S&P's expectation for meaningful
recovery (50%-70%; lower half of the range) of principal for
lenders in the event of a payment default.  The company is a
subsidiary of Learfield Communications Holdings Inc.

Although the '3' recovery rating is unchanged, S&P's recovery
expectation has shifted to the lower half of the range from the
upper half.

On May 16, 2016, we revised the recovery rating on the debt
downward following Learfield's announcement that it planned to
upsize its existing first-lien term loan by $50 million.  The
revision reflected the greater amount of first-lien debt under
S&P's simulated default scenario, which resulted in lower recovery
prospects for first-lien lenders.  The company will use the
proceeds to repay an equivalent amount of its existing second-lien
term loan and increase its revolver facility due 2018 by
$10 million to $55 million.

S&P intends to withdraw its issue-level rating on second-lien term
loan once it has been repaid.  The 'B' corporate credit rating on
Learfield is unchanged.

                        RECOVERY ANALYSIS

Key analytical factors

   -- S&P's simulated default scenario contemplates a payment
      default in 2019 due to a significant decline in cash flow as

      a result of slower growth in sponsorship revenues and
      economic weakness, the company's inability to cover minimum
      rights-fee guarantees on some of it contracts, and
      unsuccessful acquisitions.

   -- S&P assumes a reorganization following the default, using an

      emergence EBITDA multiple of 6x to value the company.

Simulated default assumptions

   -- Year of default: 2019
   -- EBITDA at emergence: $45 million
   -- EBITDA multiple: 6x

Simplified waterfall

   -- Net enterprise value (after 5% administrative costs):
      $257 million
      ----------------------------------------------------
   -- Secured debt (first-lien): $473 million
      -- Recovery expectation: 50%-70% (lower half of the range)

Note: All debt amounts include six months of prepetition interest.

RATINGS LIST

Learfield Communications Holdings Inc.
Corporate Credit Rating                 B/Stable/--

Ratings Unchanged

Learfield Communications Inc.
Senior Secured
  $426 million first-lien term loan due 2020    B
   Recovery Rating                              3L


LEO MOTORS: Incurs $458,000 Net Loss in First Quarter
-----------------------------------------------------
Leo Motors, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $458,166
on $745,706 of revenues for the three months ended March 31, 2016,
compared to a net loss of $595,418 on $42,771 of revenues for the
three months ended March 31, 2015.

As of March 31, 2016, Leo Motors had $6.19 million in total assets,
$5.18 million in total liabilities and $1 million in total equity.

"In order to continue as a going concern, develop and generate
revenues and achieve a profitable level of operations, the Company
will need, among other things, additional capital resources.
Management's plans to obtain such resources for the Company
include (1) raising additional capital through sales of common
stock, (2) converting  promissory notes into common stock and (3)
entering into acquisition agreements with profitable entities with
significant operations.  In addition, management is continually
seeking to streamline its operations and expand the business
through a variety of industries, including real estate and
financial management."

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

                       https://is.gd/iU6J8i

                        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.

Leo Motors reported 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.


LIBERTY INTERACTIVE: S&P Affirms 'BB' CCR, Outlook Altered to Neg.
------------------------------------------------------------------
S&P Global Ratings affirmed the 'BB' corporate credit rating on
Liberty Interactive Corp. and QVC Inc. and revised its outlook to
negative from stable.  At the same time, S&P revised its recovery
rating on Liberty Interactive LLC's unsecured debt to '3' from '4'
as recovery prospects for lenders will improve because of
additional collateral from the investment in Liberty Broadband
Corp.  The '3' recovery rating indicates S&P's expectations of
meaningful recovery in the event of default at the higher end of
the 50% to 70% range.  S&P affirmed the 'BB' issue-level rating.

S&P also affirmed the 'BBB-' issue-level rating on subsidiary QVC
Inc.'s secured debt.  The recovery rating remains '1', which
indicates S&P's expectation of very high recovery (90% to 100%) in
the event of a payment default.

"Our outlook revision to negative reflects the decline in credit
metrics following the $2.4 billion cash investment in Broadband,
which in turn will use the proceeds to purchase shares in New
Charter Corp.  We net about 75% of cash balance against debt in our
calculation of adjusted leverage, which will increase to 3.9x from
3.3x at March 31, 2016," said credit analyst Andy Sookram. "While
we think leverage will likely improve in the next two to three
quarters, leverage could remain weak if management pursues
aggressive financial policy initiatives that entail issuance of
additional debt above our expected levels or if performance trends
fail to support deleveraging from EBITDA growth."

The negative rating outlook on Liberty Interactive reflects the
decline in credit metrics following the sizeable amount of cash
used to fund the Broadband investment.  Given S&P's forecast that
shows profit growth, S&P thinks leverage will improve modestly by
year-end 2016.

S&P could lower its ratings on Liberty Interactive on event risks
that include sizable debt-funded acquisitions and/or shareholder
remuneration that prevent management from improving credit metrics
in line with S&P's ratings expectations.  Scenarios leading to a
downgrade could include issuance of incremental debt above
$1 billion to fund investments without offsetting profit or cash
contribution to its credit profile such that leverage stays above
4x.

S&P could revise the outlook back to stable if the company reduces
leverage in line with S&P's ratings expectation by year-end 2016,
and if it thinks the risk of releveraging back to the 4x area is
unlikely.  S&P thinks profit growth could lead to better profit and
cash flow metrics such that leverage declines to 3.7x at year-end
2016.  For this to occur, EBITDA would have to increase by about
$200 million or debt decline by nearly $600 million.


LUVU BRANDS: Announces Fiscal 2016 Q3 Results
---------------------------------------------
Luvu Brands, Inc., announced record net sales of $4.3 million for
the quarter ended March 31, 2016.

Net sales during the nine months ended March 31, 2016, increased to
a record $12.9 million from $12.1 million recorded in the same
period last year, an increase of 6%.

For the three months ended March 31, 2016, the Company reported a
loss of $159,505, or ($.00) per diluted share.

For the quarter ended March 31, 2016, sales to wholesale customers
increased 11% to $2.9 million from the same quarter last year, due
primarily to higher sales of branded Liberator, Jaxx and Avana
products.

Net sales to wholesale customers during the nine months ended March
31, 2016, increased to $8.7 million from $7.5 million in the same
period of the prior fiscal year, an increase of 15%.  This is
primarily due to increased sales to the Company's larger wholesale
customers including Amazon, Brookstone, Overstock, Target and
Wayfair.

During the nine months ended March 31, 2016, sales to (and through)
Amazon accounted for 29% of the Company's net sales.

Adjusted EBITDA for the nine months ended March 31, 2016, was
$383,723.  For the same period in the prior year, Adjusted EBITDA
was $444,734.

Louis S. Friedman, the Company's Founder and chief executive
officer said: "Although this quarter did not meet our expectations,
we are encouraged by the increase in sales of our branded consumer
products, especially our Liberator and Jaxx products.  As evidence
of this, sales of Liberator branded products increased 14% during
the first nine months from the same period in the prior year and
Jaxx/Avana products increased 17% from the prior year."

Mr. Friedman went on to say, "We believe there is a tremendous
opportunity to optimize our core business.  To that end, our
energies for Q4 of this fiscal year and Q1 of fiscal 2017 will be
focused on ramping up production and improving our in-stock
positions.  We believe that demand will continue to build as our
inventory position strengthens.  We are taking actions to increase
brand awareness and implementing promotional initiatives aimed at
increasing our direct to consumer sales volume over the next six
months. Our second priority for the remainder of this calendar year
is elevating the customer experience and developing a more cohesive
approach to customer service.  This initiative will focus on
enhancing product quality and customer value, and improving our
in-stock position across all channels.  Our third priority is to
optimize our inventory and working capital.  I believe there is a
significant opportunity to improve inventory turns and free up
cash.  As a Company, we recognize the need for better inventory
optimization, both in terms of assortment dynamics and supply chain
efficiency.  During the quarter, we began the process to condense
our SKU count, editing under-performing products and simplifying
our offering.  Our analysis suggests we have the opportunity to be
more efficient with our product offering, which should increase
inventory turns and reduce working capital requirements over the
next six months."

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

                     https://is.gd/cbicsH

                       About Luvu Brands

Luvu Brands, Inc., formerly known as Liberator, Inc., is a
U.S.-based manufacturer that has built several brands in the
wellness, lifestyle and casual furniture and seating categories.
Its brands are headquartered in Atlanta in a 140,000 square foot
manufacturing facility.

"We incurred a net loss of $222,235 for the three months ended
September 30, 2015 and a net loss of $473,746 for the year ended
June 30, 2015.  As of September 30, 2015, we have an accumulated
deficit of $9,119,722 and a working capital deficit of $1,938,975.
This raises substantial doubt about our ability to continue as a
going concern," the Company stated in its quarterly report for the
period ended Sept. 30, 2015.


LWP CAPITAL: Regulators Issue Cease Trade Orders
------------------------------------------------
LWP Capital Inc. (formerly "Legumex Walker Inc.") ("LWP" or the
"Company"), by KSV Advisory Inc. in its capacity as the
Court-appointed liquidator of LWP (the "Liquidator"), on May 20
disclosed that cease trade orders (the "CTOs") have been issued by
the Manitoba Securities Commission, Ontario Securities Commission
and B.C. Securities Commission, with automatic effect in the
Province of Alberta.  The Liquidator anticipates that other
provincial securities regulators may issue similar orders.  The
CTOs were issued as a result of LWP not filing its audited
financial statements and related disclosure filings for the fiscal
year ended December 31, 2015 by the required filing deadlines under
applicable securities laws.  In the context of the Company's court
supervised liquidation, the Liquidator and the inspectors of LWP's
liquidation proceedings determined that the substantial cost of
preparing audited financial statements and related continuous
disclosure materials could not be justified as no material benefit
would be derived from their preparation and the CTOs have little or
no impact given that the Company's 16,294,635 issued and
outstanding common shares were delisted on December 31, 2015.  The
CTOs prohibit all trading in the securities of the Company. Neither
the Company nor the Liquidator has any intention of challenging the
CTOs, which are expected to remain in effect for the duration of
the liquidation process.

The Liquidator provides the following update in respect of the
Company's liquidation proceedings:

As previously announced on February 23, 2016, The Scoular Company
(the "Purchaser") filed an objection notice (the "Objection
Notice") objecting to the Company's calculation of the Closing
Working Capital under the Asset Purchase Agreement dated September
14, 2015, entered into among the Purchaser, the Company and certain
wholly-owned subsidiaries of LWP, as amended (the "APA").  The
Purchaser has also filed a proof of claim with the Liquidator.  The
Purchaser's claims in total are in excess of CAD$25 million;

Following a hearing on April 29, 2016, the Ontario Superior Court
of Justice (Commercial List) (the "Court") ordered that the dispute
between the Company and the Purchaser regarding the net realizable
value ("NRV") of inventory, which is the largest item in dispute
under the Objection Notice, be resolved by the valuator named in
the APA.  The process to determine the NRV is expected to commence
shortly;

In accordance with the APA, other working capital items that remain
in dispute will be determined by Ernst & Young LLP.  This process
is also expected to commence shortly;

The claims and disputes raised by the Purchaser represent the only
material claims against the Company.  The Liquidator has
administered the Court-approved claims process, and there were no
other material claims filed.  The claims bar date was March 15,
2016; and

As previously announced on February 23, 2016, if the Purchaser's
claims are not definitively determined in a manner that is
favorable to the Company, the funds available for distribution to
shareholders may be materially less than the range of CAD$1.69 to
CAD$1.98 per share disclosed in the Company's press release dated
November 23, 2015.

The Liquidator intends to provide a further update once the
Purchaser's claims have been definitively determined.  All Court
materials, including the Court's reasons for its decision of the
motion heard April 29, 2016, and updates on the status of the
liquidation proceedings are available on the Liquidator's website
at www.ksvadvisory.com

LWP Capital Inc, previously Legumex Walker Inc (LWI) is a
Canada-based processor and merchandiser of food.  The Company's
processing facilities are located in the Canadian Prairies,
American Midwest and China.  The Company operates through two
segments Oilseed Processing and Corporate.  The Oilseed Processing
segment consists of an 84 % interest in Pacific Coast Canola LLC
(PCC), a canola oilseed processing facility in the State of
Washington in the United States.  The Corporate segment consists of
costs related to executive, finance, treasury, human resources,
legal, information technology, governance, professional fees and
other corporate development costs.


M SPACE HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: M Space Holdings, LLC
           aka M SPACE
           aka M Space Housing
        629 Parkway Drive, Suite A
        Park City, UT 84098

Case No.: 16-24384

Type of Business: Provider of turnkey complex modular space
                  solutions

Chapter 11 Petition Date: May 19, 2016

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: Hon. Joel T. Marker

Debtor's Counsel: Mona L. Burton, Esq.
                  Sherilyn A. Olsen, Esq.
                  Ellen E. Ostrow, Esq.
                  HOLLAND & HART LLP
                  222 S. Main Street, Suite 2200
                  Salt Lake City, UT 84101
                  Tel: (801) 799-5800
                  Fax: (801) 799-5700
                  E-mail: mburton@hollandhart.com
                          solsen@hollandhart.com
                          eeostrow@hollandhart.com

Debtor's          
Asset
Liquidator:      GORDON BROTHERS COMMERCIAL & INDUSTRIAL, LLC

Estimated Assets: $50 million to $100 million

Estimated Debts: $50 million to $100 million

The petition was signed by Jeffrey Deutschendorf, chief executive
officer and president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
A Plus Modular Services, Inc.        Trade Debt          $75,393

AJ Investment Ventures, Inc.         Trade Debt         $217,023

AmCo Structures, Inc.                Trade Debt         $157,904

American Express                  Credit Card Debt      $105,748

Bennett Truck Transport, LLC         Trade Debt         $143,370

Conway MacKenzie Management         Professional        $144,428
Services                               Services

Davidson Electric Company Inc.       Trade Debt         $147,835

Eklipse Resources LLC                Trade Debt          $91,500

First String Space, Inc.             Trade Debt          $94,775

Grant Thornton LLP                  Professional        $173,035
                                      Services

Hi-Tek Sound & Signal, Inc.          Trade Debt         $217,480

McKenzie Building Center and         Trade Debt         $102,217
Blue Tarp Financial

Menards Inc. & Capital               Trade Debt         $190,401
Commercial

Michael Dwyer                           Rents           $105,977

Norden United LLC                    Trade Debt          $74,630

Southeast Modular                    Trade Debt         $111,589
Manufacturing

Specialized Structures, Inc.         Trade Debt         $843,605
P.O. Box 921
423 W 12th Street
Alma, GA 31510

Titan Modular Systems, Inc.          Trade Debt          $269,012
Attn: Kristin Adams
P.O. Box 427
Alma, GA 31510

Whitley Evergreeen, Inc.             Trade Debt          $182,040

Whitley Manufacturing Co., Inc.      Trade Debt           $96,099


MASHBURN STORES: Court Extends Exclusive Plan Filing to July 25
---------------------------------------------------------------
The Hon. Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey has extended, at the behest of Marburn
Stores, Inc., the time within which it has the exclusive right to
file a plan of reorganization to July 25, 2016, and the period to
obtain acceptances until 60 days thereafter.

As reported by the Troubled Company Reporter on May 6, 2016, the
Debtor sought the extensions, saying that the management is
continuing to take steps to preserve available cash, like laying
off unnecessary personnel, closing the least profitable stores and
consolidating inventory.   The Debtor intends to continue to
operate under Chapter 11 and intends to file a Plan of
Reorganization.  The Debtor intends to close the least profitable
stores and consolidate inventory in the remaining stores.  The
Debtor will also review other measures which can be taken to
increase sales and decrease costs.

Marburn Stores, Inc. specializes in curtains, draperies and window
treatments, and also carries a complete line of home furnishings.
Marburn Stores filed a Chapter 11 petition (Bank. D. N.J. Case No.
15-14411) on March 13, 2015.  The Debtors disclosed total assets of
$7.25 million and debts of $2.85 million.  The petition was signed
by Edwin F. Hund, president and CEO.

The Debtor is represented by Donald W Clarke, Esq., and Daniel
Stolz, Esq., at Wasserman, Jurista & Stolz, P.C.


MILESTONE SCIENTIFIC: Incurs $1.26 Million Net Loss in 1st Quarter
------------------------------------------------------------------
Milestone Scientific Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.26 million on $3.56 million of net product sales for the
three months ended March 31, 2016, compared to a net loss of
$427,634 on $2.77 million of net product sales for the same period
in 2015.

As of March 31, 2016, Milestone Scientific had $11.60 million in
total assets, $3.24 million in total liabilities, all current, and
total equity of $8.36 million.

Working Capital decreased by $766,000, primarily due to the loss
from operations for the three months ended March 31, 2016. However,
Milestone Scientific believes that its cash on hand and revenues
from the dental business will be sufficient to operate the ongoing
business for at least the next 12 months.  As noted above, the
funding for Milestone Medical will be limited during 2016.

Milestone Scientific continues to take positive steps to maintain
adequate inventory levels and advances on contracts to maintain
available inventory to meet our domestic and international sales
requirements.  Cash flows from operating activities for the three
months ended March 31, 2016 and 2015 were a negative $1,389,126 and
$681,191, respectively.

Milestone Scientific has incurred annual operating losses and
negative cash flows from operating activities since its inception,
except for the year ended Dec. 31, 2013.  Milestone Scientific is
actively pursuing the generation of positive cash flows from
operating activities through increases in revenues based upon
management's assessment of present contracts, and current
negotiations and reductions in operating expenses.  The
consolidation of Milestone Medical in December 2015 and the lack of
capital raising activities by Milestone Medical in 2015 created a
unique situation for Milestone Scientific advancing into 2016.
However as noted previously, Milestone Scientific is not obligated
to continue its financial support of Milestone Medical, but the
timeline for Milestone Medical 510K FDA clearance is expected in
2016 (mid-year).  Milestone Scientific expects that clearance to
commercialize the epidural and intra articular instruments in 2016
will significantly improve the capital raising opportunities and
financial picture.

Milestone Scientific believes that with the new distribution
agreement with Henry Schein Inc. (effective January 1, 2016), the
world's largest supplier of medical, dental and veterinary supplies
and devices, that dental revenues are projected to improve in the
upcoming 12 months.  To further reduce Milestone Scientific's
expenditures, Milestone Medical expenses related to USA FDA
clearance for the epidural and intra-articular instruments can be
controlled as required to meet Milestone Scientific's budget.  By
limiting the FDA related expenses and increasing the dental
instrument revenue through the new distribution agreement and
performing a detailed cash flow projection of the consolidated
company and its subsidiaries, management believes that Milestone
Scientific will have sufficient cash reserves to meet all of its
anticipated obligations over the next twelve months.

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

                     https://is.gd/iccWlM

                  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.

Milestone Scientific reported a net loss attributable to the
Company of $5.46 million on $9.49 million of net product sales for
the year ended Dec. 31, 2015, compared to a net loss attributable
to the Company of $1.70 million on $10.33 million of net product
sales for the year ended Dec. 31, 2014.


MTL PUBLISHING: S&P Affirms 'B+' CCR, Outlook Remains Stable
------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'B+' corporate credit
rating on U.S.-based MTL Publishing LLC.  The rating outlook
remains stable.

At the same time, S&P affirmed its 'BB-' issue-level rating on the
company's first-lien senior secured credit facility, which consists
of a $1.12 billion term loan due 2022 and a $50 million revolving
credit facility due 2020.  The '2' recovery rating is unchanged,
indicating S&P's expectation for meaningful recovery (70%-90%;
upper half of the range) of principal in the event of default.

S&P also assigned its 'B' issue-level rating and '5' recovery
rating to the company's proposed senior unsecured notes due 2024.
The '5' recovery rating indicates S&P's expectation for modest
recovery (10%-30%; upper half of the range) of principal in the
event of default.

MTL will use the proceeds from the transaction to refinance it
remaining mezzanine debt and finance the $8 million call-premium on
the existing senior unsecured notes.

"The affirmation reflects our view that MTL will continue to
generate consistent and predictable cash flows over the next 12-18
months, and its adjusted debt leverage and free operating cash flow
to debt will remain above 6x and 5%, respectively," said S&P Global
credit analyst Khaled Lahlo.  Pro forma for the transaction,
adjusted debt to EBITDA remains unchanged at 6.2x for the 12 months
ended Dec 31, 2015.  S&P expects that company's leverage will
remain in the low-6x area in fiscal years ending March 31, 2017,
and 2018, as the company continues to prepay its debt through its
excess cash flow sweep while distributing dividends.

The stable rating outlook on MTL reflects S&P's view that the
company will continue to generate consistent and predictable free
cash flow.  The outlook also reflects S&P's expectation that
overall revenue will continue to grow on a constant currency basis
supported by growth in the performance royalties segment.  The
outlook also reflects S&P's expectation that MTL's free operating
cash flow to debt will remain at least above 5% over the next 12-18
months, even though its adjusted leverage will remain above 5x.

S&P could lower its corporate credit rating on MTL if the company's
adjusted debt leverage ratio increases above 6.5x due to weaker
operating performance.  This could occur if the company's
performance and sync royalty streams are unable to offset a
significant portion of the expected decline in mechanical and
physical royalties.  A more aggressive financial policy with
further debt-financed dividends that result in leverage above 6.5x
could also result in a downgrade.

An upgrade, which S&P views as unlikely at this time, would require
debt leverage declining meaningfully to below 5x, which could occur
through EBITDA growth, debt repayment, and a less aggressive
financial policy.


N-VIRO INTERNATIONAL: Delays Filing of March 31 Form 10-Q
---------------------------------------------------------
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 quarterly report on Form 10-Q for the quarter ended
March 31, 2016.  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 review 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 reported a net loss of $2.27 million on $1.18 million of
revenues for the year ended Dec. 31, 2015, compared to a net loss
of $1.76 million on $1.33 million of revenues for the year ended
Dec. 31, 2014.  As of Dec. 31, 2015, N-Viro had $812,000 in total
assets, $2.56 million in total liabilities and a total
stockholders' deficit of $1.75 million.

UHY LLP, in Farmington Hills, Michigan, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, 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.


NANOSPHERE INC: Incurs $6.68 Million Net Loss in First Quarter
--------------------------------------------------------------
Nanosphere, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $6.68 million on $6.58
million of total revenue for the three months ended March 31, 2016,
compared to a net loss attributable to common shareholders of $7.53
million on $4.61 million of total revenue for the same period in
2015.  

This 43% year-over-year revenue growth was driven predominantly by
U.S. based microbiology laboratories continued adoption of the
Company's expanding infectious disease menu evidenced by a 55%
growth rate in test consumables in the first quarter of 2016 as
compared to the prior year period.

As of March 31, 2016, Nanosphere had $39.78 million in total
assets, $27.49 million in total liabilities and $12.29 million in
total stockholders' equity.

Cash at March 31, 2016, was $18.4 million, with $5 million of this
being restricted cash.  Cash used in operations during the first
quarter of 2016 was $5.3 million, compared to $5.6 million for the
same period in 2015, an improvement of $0.3 million.

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

                      https://is.gd/SFVFXw

                         About Nanosphere

Nanosphere, Inc., develops, manufactures and markets an advanced
molecular diagnostics platform, the Verigene System, that enables
simple, low cost and highly sensitive genomic and protein testing
on a single platform.  The Verigene System includes a bench-top
molecular diagnostics workstation that is a universal platform for
genomic and protein testing and provides for multiple tests to be
performed on a single platform, including both genomic and protein
assays, from a single sample.  Its proprietary nanoparticle
technology provides the ability to run multiple tests
simultaneously on the same sample.  Nanosphere was founded by Chad
A. Mirkin and Robert Letsinger on Dec. 30, 1999, and is
headquartered in Northbrook, IL.

Nanosphere reported a loss attributable to common shareholders of
$42.84 million on $21.07 million of total revenue for the year
ended Dec. 31, 2015, compared to a net loss attributable to common
shareholders of $39.07 million on $14.29 million of total revenue
for the year ended Dec. 31, 2014.

Deloitte & Touche LLP, in Chicago, Illinois, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company's recurring
losses from continued use of cash to fund operations raise
substantial doubt about its ability to continue as a going concern.


NANOSPHERE INC: Perkins Capital Reports 10.2% Stake
---------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Perkins Capital Management, Inc., disclosed that as of
May 17, 2016, it beneficially owns 1,540,244 shares of common stock
of Nanosphere, Inc. representing 10.2 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at https://is.gd/oOpvq0

                       About Nanosphere

Nanosphere, Inc., develops, manufactures and markets an advanced
molecular diagnostics platform, the Verigene System, that enables
simple, low cost and highly sensitive genomic and protein testing
on a single platform.  The Verigene System includes a bench-top
molecular diagnostics workstation that is a universal platform for
genomic and protein testing and provides for multiple tests to be
performed on a single platform, including both genomic and protein
assays, from a single sample.  Its proprietary nanoparticle
technology provides the ability to run multiple tests
simultaneously on the same sample.  Nanosphere was founded by Chad
A. Mirkin and Robert Letsinger on Dec. 30, 1999, and is
headquartered in Northbrook, IL.

Nanosphere reported a loss attributable to common shareholders of
$42.84 million on $21.07 million of total revenue for the year
ended Dec. 31, 2015, compared to a net loss attributable to common
shareholders of $39.07 million on $14.29 million of total revenue
for the year ended Dec. 31, 2014.

Deloitte & Touche LLP, in Chicago, Illinois, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company's recurring
losses from continued use of cash to fund operations raise
substantial doubt about its ability to continue as a going concern.


NANOSPHERE INC: Signs $58 Million Merger Agreement with Luminex
---------------------------------------------------------------
Luminex Corporation and Nanosphere, Inc. announced that they have
entered into a definitive agreement under which Luminex will
acquire Nanosphere, a leader in the molecular microbiology and
molecular diagnostic market for $1.35 per share in an all cash
transaction valued at approximately $58 million.  With its focus on
the molecular microbiology segment, Nanosphere delivers proprietary
diagnostic tools that enable rapid and accurate detection of
respiratory, gastroenteric and bloodstream infections.  The Boards
of Directors of both companies have unanimously approved the
merger, which is expected to immediately accelerate total revenue
growth.

Benefits of the Transaction

  * An Ideal Strategic Fit: Nanosphere's Verigene platform, broad
    menu, and strong presence in the molecular microbiology market
    with over 240 customers complement Luminex's customer base.
    The combination will add a growing revenue stream and new
    platforms for growth.

  * Amplifies Luminex's Market Leadership: Nanosphere's Verigene
    technology leads in the high-growth bloodstream infection
    segment and complements Luminex's current infectious disease
    portfolio.  Following the acquisition, only Luminex will be
    able to offer customers automated molecular platforms for both

    syndromic and targeted molecular diagnostic testing (Verigene
    and ARIES).

  * Offers Attractive Economics and Shareholder Value:
    Nanosphere's forecasted 2016 revenue of between $28-$30
    million will immediately accelerate Luminex's stand-alone
    projected revenue growth, reflecting Nanosphere's high double
    digit revenue growth and the ability to leverage Luminex's
    global molecular diagnostic distribution.  Nanosphere's total
    revenue for 2015 was $21 million.  The Transaction is expected

    to be accretive to Luminex’s adjusted earnings by the end of

    2017.

"The acquisition of Nanosphere will significantly enhance Luminex's
growth trajectory by expanding our product portfolio, delivering
access to new markets and strengthening our pipeline of future
products to make us the partner of choice for all molecular labs,"
said Homi Shamir, president and CEO of Luminex.  "The deal
demonstrates prudent execution of our fourth strategic growth
pillar -- leveraging our financial strength to accelerate growth in
our target markets."

"Luminex will recognize significant strategic benefit moving
forward as our customer base and leverage in our expanding menu
contribute to accelerated revenue growth," said Michael McGarrity,
president and CEO of Nanosphere.  "The resources and reputation for
excellence that Luminex carries in the market will greatly benefit
our customers and employees."

Under the terms of the agreement, which has been approved by the
boards of directors of both companies, a newly formed, wholly-owned
subsidiary of Luminex will commence a tender offer for all
outstanding shares of Nanosphere for $1.35 per share in cash.
Luminex will fund the acquisition with cash on hand.  Luminex
intends to commence a tender offer for all of the shares of common
stock of Nanosphere within 15 business days. Under the agreement,
the tender offer will be followed by a merger to acquire any
untendered shares.  The tender offer is subject to the tender of a
majority of Nanosphere's common shares and certain other customary
closing conditions.  It is expected that the transaction will close
in the second quarter of Luminex's fiscal 2016.

Financial Details

Under the terms of the agreement, Luminex will pay approximately
$58 million in cash to acquire Nanosphere, including payments in
connection with outstanding common stock, preferred stock, and
options and warrants of Nanosphere.  Luminex will also pay or cause
Nanosphere to pay off approximately $25 million in Nanosphere
indebtedness outstanding as of March 31, 2016. Nanosphere generated
approximately $21 million in revenue during 2015 and $6.6 million
in its quarter ended March 31, 2016. As of March 31, 2016,
Nanosphere had restricted and unrestricted cash of approximately
$18.4 million.  Assuming the transaction closes on or before July
1, 2016, Luminex expects the Nanosphere acquisition will add
between $13 million and $16 million to 2016 consolidated revenue.

Luminex expects to record charges for non-recurring cash and
non-cash acquisition-related costs in connection with the
transaction. The full extent of these charges will not be
determined under the rules of purchase accounting until valuation
has been completed. In addition, transaction-related professional
fees will be expensed as incurred, as required by GAAP per ASC 805
Business Combinations.

Perella Weinberg Partners is acting as exclusive financial advisor
to Luminex Corporation.  Smith, Gambrell & Russell LLP is serving
as outside counsel to Luminex.  Jefferies LLC is acting as
exclusive financial advisor to Nanosphere and Seyfarth Shaw LLP is
serving as outside counsel to Nanosphere.

A full-text copy of the Agreement and Plan of Merger is available
for free at https://is.gd/za6sDB

                          About Nanosphere

Nanosphere, Inc., develops, manufactures and markets an advanced
molecular diagnostics platform, the Verigene System, that enables
simple, low cost and highly sensitive genomic and protein testing
on a single platform.  The Verigene System includes a bench-top
molecular diagnostics workstation that is a universal platform for
genomic and protein testing and provides for multiple tests to be
performed on a single platform, including both genomic and protein
assays, from a single sample.  Its proprietary nanoparticle
technology provides the ability to run multiple tests
simultaneously on the same sample.  Nanosphere was founded by Chad
A. Mirkin and Robert Letsinger on Dec. 30, 1999, and is
headquartered in Northbrook, IL.

Nanosphere reported a loss attributable to common shareholders of
$42.84 million on $21.07 million of total revenue for the year
ended Dec. 31, 2015, compared to a net loss attributable to common
shareholders of $39.07 million on $14.29 million of total revenue
for the year ended Dec. 31, 2014.

As of March 31, 2016, Nanosphere had $39.78 million in total
assets, $27.49 million in total liabilities and $12.29 million in
total stockholders' equity.

Deloitte & Touche LLP, in Chicago, Illinois, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company's recurring
losses from continued use of cash to fund operations raise
substantial doubt about its ability to continue as a going concern.


NET ELEMENT: Incurs $1.88 Million Net Loss in First Quarter
-----------------------------------------------------------
Net Element, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.88 million on $11.3 million of total revenues for the three
months ended March 31, 2016, compared to a net loss of $2.24
million on $5.54 million of total revenues for the same period in
2015.

As of March 31, 2016, Net Element had $21.6 million in total
assets, $14.05 million in total liabilities and $7.55 million in
total stockholders' equity.

Since the Company's inception, it has incurred significant
operating losses.  The Company had a working capital deficit of
$4.13 million and an accumulated deficit of $146 million at March
31, 2016.  The Company had a working capital deficit of $3.095
million and an accumulated deficit of $144 million at Dec. 31,
2015.  These conditions raise substantial doubt about our ability
to continue as a going concern.  The independent auditors' report
on the Company's consolidated financial statements for the year
ended Dec. 31, 2015, contains an explanatory paragraph expressing
substantial doubt as to its ability to continue as a going concern.
The accompanying condensed consolidated financial statements do
not include any adjustments that might be necessary if we are
unable to continue as a going concern.

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

                      https://is.gd/D8nUtM

                        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.

Net Element reported 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.

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.


NET ELEMENT: Reports First Quarter 2016 Results
-----------------------------------------------
Net Element, Inc., reported a net loss of $1.88 million on $11.26
million of total revenues for the three months ended March 31,
2016, compared to a net loss of $2.24 million on $5.54 million of
total revenues for the same period in 2015.

As of March 31, 2016, Net Element had $21.61 million in total
assets, $14.05 million in total liabilities and $7.55 million in
total stockholders' equity.

"We're pleased with the result of the first quarter, which is
typically one of the slowest quarters of the year," commented Oleg
Firer, CEO of Net Element.  "We remain focused on growth and
innovation."

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

                       https://is.gd/X3t9wi

                         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.

Net Element reported 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.

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.


NET ELEMENT: Swaps $250,000 Notes for Common Shares
---------------------------------------------------
As disclosed in a Form 8-K report filed with the Securities and
Exchange Commission, Net Element, Inc. opted to exchange the second
tranche in the aggregate amount of $250,000 for 917,431 shares of
the Company common stock based on the "exchange price" of $0.2725
per share for this second tranche pursuant to the Master Exchange
Agreement, with Crede CG III, Ltd.  The Agreement and its terms
were disclosed in our Current Report on Form 8-K filed on May 3,
2016.  Those shares of common stock of the Company were issued to
Crede under an exemption from the registration requirements of the
Securities Act of 1933, as amended, in reliance upon Section
3(a)(9) of the Securities Act.

On May 2, 2016, Net Element entered into a Master Exchange
Agreement with Crede CG III, Ltd., an exempted company incorporated
under the laws of Bermuda.  Prior to entering into the Agreement,
Crede agreed to acquire three existing promissory notes that had
been previously issued by the Company, of up to $3,965,000 in
principal amount outstanding plus interest due to RBL Capital
Group, LLC.  Pursuant to the Agreement, the Company has the right,
at any time prior to Dec. 31, 2016, to request Crede, and Crede
agreed upon each such request, to exchange these promissory notes
in tranches on the dates when the Company instructs Crede, for such
number of shares of the Company's common stock as determined under
the Agreement based upon the lower of (A) the closing bid price of
Common Stock on the date of the applicable exchange notice and (B)
(x) the average of the 3 lowest daily dollar volume-weighted
average prices (VWAPs) of Common Stock during the 7 trading days
immediately preceding the date of the applicable notice less (y)
12% of such average of the 3 lowest daily VWAPs of Common Stock.

                        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.

Net Element reported 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 March 31, 2016, Net Element had $21.61 million in total
assets, $14.05 million in total liabilities and $7.55 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.



NEW BEGINNINGS: Wants Exclusive Plan Filing Extended to Oct. 7
--------------------------------------------------------------
New Beginnings of South Florida, Inc., asks the U.S. Bankruptcy
Court for the Southern District of Florida to extend the period
during which the Debtor has the exclusive right to file a Chapter
11 plan through and including Oct. 7, 2016, from June 9, 2016, and
the period during which the Debtor has the exclusive right to
solicit acceptances of a Chapter 11 plan through and including Dec.
6, 2016, from Aug. 8, 2016.

The Debtor says that although the case has only been pending for
three months, it has made good faith progress toward the conclusion
of this case, continues to work to resolve issues with its lenders,
vendors, and other creditors, and is paying its bills as they
become due.

The Debtor assures the Court that it is not seeking the extensions
of the Exclusivity Periods to delay administration of these cases
or to pressure creditors to accept unsatisfactory plans.  Rather,
this request is intended to facilitate an orderly, efficient and
cost-effective plan process for the benefit of all creditors and
parties in interest.

New Beginnings of South Florida, Inc., sought protection under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Southern District of Florida (Miami) (Case No. 16-11907) on
Feb. 10, 2016.  The petition was signed by Elvira Smith, president.


The Debtor is represented by Luis Salazar, Esq., at Salazar
Jackson, LLP.  The case is assigned to Judge Robert A. Mark.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


NORTH AMERICAN ENERGY: S&P Affirms 'B' CCR; Outlook Stable
----------------------------------------------------------
S&P Global Ratings said it affirmed its 'B' long-term corporate
credit rating on Edmonton, Alta.-based North American Energy
Partners Inc. (NAEP).  The outlook is stable.  At the same time,
S&P Global Ratings raised its issue-level rating on NAEP's senior
unsecured debt to 'BB-' from 'B', and revised its recovery rating
on the debt to '1' from '4', indicating S&P's expectation of very
high (90%-100%) recovery for bondholders under our simulated
default scenario.

"NAEP's very low balance-sheet debt has effectively offset revenue
and cash flow deterioration during the current industry downturn,
and supported the company's credit profile and our rating," said
S&P Global Ratings credit analyst Michelle Dathorne.

S&P base the upgrade to the senior unsecured debt on both its
reduced estimate of senior debt ranking ahead of the rated senior
unsecured debt, as well as the reduced amount of rated debt in
S&P's debt waterfall at the time of S&P's simulated default
scenario.

NAEP's revised financial risk profile reflects the company's
improved credit measures due to reduced balance-sheet debt and
spending flexibility, which allows the company to decrease capital
spending to maintenance levels without compromising its operating
efficiency.  Although S&P has revised its financial risk profile
assessment, S&P believes NAEP's overall credit profile remains
commensurate with the 'B' rating, due to the limited scale and
scope of its operations.  The company's almost-exclusive exposure
to the Canadian oil sands mining industry continues to constrain
the overall credit profile and ratings.

In S&P's opinion, NAEP's vulnerable business risk profile reflects
the company's narrow operational diversity, an increasing
competitive landscape as other service providers enter the oil
sands mining sector, diminishing visibility to revenue growth as
customers reduce their growth capital expenditure plans during the
current industry downturn, and the risk of its customers
in-sourcing the services NAEP provides.  The cash flow stability
NAEP has achieved after renegotiating service contracts with its
key customers somewhat offset these credit weaknesses.  S&P
believes the company has a meaningful market position in overburden
removal and other services in the Athabasca oil sands mining
sector. However, NAEP's margins and profitability have been
vulnerable to unscheduled production outages, project delays, or
cancellations. In S&P's opinion, the company's inability to fully
insulate itself from these unexpected events heightens its
operational risk profile.  Oil sands producers are increasingly
committing to shorter-term service contracts and opening available
projects to more competitors, so NAEP's backlog (which S&P views as
a barometer of future revenue generation) has diminished.  Despite
the challenging industry environment, NAEP is able to generate good
profitability, which S&P assess based on its EBITDA margins. In our
opinion, the company's profitability ranks in the mid-range of the
global oilfield services peer group.

The stable outlook reflects S&P Global Ratings' opinion that NAEP's
business risk and financial risk profiles should continue to
support the 'B' rating throughout our 12-month outlook period.
There is significant cushion in NAEP's existing financial risk
profile, based on S&P's forecasts of its five-year,
weighted-average FFO-to-debt ratio, which S&P estimates at 48.6%.
To support the 'B' rating, assuming the company's business risk
profile does not change, S&P would expect its weighted-average
FFO-to-debt ratio to remain above 20% consistently.  S&P do not
believe the company's business risk profile is likely to strengthen
sufficiently to support a 'B+' rating.

Although S&P views it as highly unlikely during the outlook period,
it would lower the corporate credit rating if the company's
weighted-average FFO-to-debt ratio fell and S&P expected it to
remain below 20%.  This would likely occur if the company
dramatically increased its balance-sheet debt, and generated
materially lower (or negative) free operating cash flow.

An upgrade would be contingent on NAEP strengthening its business
risk profile.  This could occur if the company broadened its
operational and geographic diversification, thereby decreasing its
current customer concentration.  S&P believes this could happen
after a transformative merger or acquisition.


PACIFIC THOMAS: Court Affirms Order Declaring Lease Invalid
-----------------------------------------------------------
In the case captioned KYLE EVERETT, Chapter 11 Trustee, Plaintiff
and Appellee, v. RANDALL WHITNEY, et al., Defendants and
Appellants, Case No. 14-cv-03465-MMC (N.D. Cal.), Judge Maxine M.
Chesney of the United States District Court for the Northern
District of California affirmed the bankruptcy court's judgment
entered November 4, 2014 in favor of Kyle Everett, the Chapter 11
trustee for the estate of the debtor, Pacific Thomas Corporation
(PTC).

On April 11, 2013, Everett commenced an adversary proceeding
against the defendants, Pacific Trading Ventures, Pacific Trading
Ventures, Ltd., Randall Whitney, and Jill V. Worsley, by way of a
complaint for declaratory relief, an accounting, the turnover of
amounts due the bankruptcy estate, and injunctive relief.  In the
complaint, Everett alleged that the defendants withheld funds owed
to PTC under a management agreement entered by the parties in 2003,
and sought an award in the amount of those funds as well as a
declaration that a subsequently executed lease under which the
defendants claimed entitlement to the funds was unenforceable in
that it constituted "part of a scheme to siphon funds" belonging to
the bankruptcy estate.

On November 4, 2014, the bankruptcy court entered judgment by which
the lease was declared invalid, Everett was awarded the sum of
$566,685, and the defendants were enjoined, inter alia, from
further participation in PTC's business operations.

A full-text copy of Judge Chesney's May 10, 2016 opinion is
available at https://is.gd/dYVcKi from Leagle.com.

The bankruptcy case is In re PACIFIC THOMAS CORPORATION, dba
PACIFIC THOMAS CAPITAL, dba SAFE STORAGE, Debtor, Bankruptcy Case
No. 14-54232 MEH (Bankr. N.D. Cal.).
       
Kyle Everett is represented by:

          Craig C. Chiang, Esq.
          Mia S. Blackler, Esq.
          Ivo Keller, Esq.
          Robert E. Izmirian, Esq.
          BUCHALTER NEMER
          55 Second Street, Suite 1700
          San Francisco, CA 94105-3493
          Tel: (415)227-0900
          Fax: (415)227-0770
          Email: mblackler@buchalter.com
                 ikeller@buchalter.com
                 rizmirian@buchalter.com

Randall Curtis Martin Whitney is represented by:

          Paul Gilruth McCarthy, Esq.
          LAW OFFICES OF BELES & BELES
          The Ordway Building
          1 Kaiser Plaza - Suite 2300
          Oakland, CA 94612
          Tel: (510)836-0100
          Fax: (510)832-3690

Pacific Trading Ventures, Pacific Trading Ventures, Ltd., Jill V.
Worsley are represented by:

          Charles Alex Naegele, Esq.
          C. ALEX NAEGELE, A PROFESSIONAL LAW CORPORATION
          95 South Market St #300
          San Jose, CA 95113
          Tel: (408)995-3224
          Fax: (408)890-4635
          Email: alex@canlawcorp.com

            -- and --

          Paul Gilruth McCarthy, Esq.
          LAW OFFICES OF BELES & BELES
          The Ordway Building
          1 Kaiser Plaza - Suite 2300
          Oakland, CA 94612
          Tel: (510)836-0100
          Fax: (510)832-3690

          About Pacific Thomas Corp.

Walnut Creek, California, Pacific Thomas Corporation filed a
Chapter 11 petition (Bankr. N.D. Cal. Case No. 12-46534) in
Oakland on Aug. 6, 2012, estimating in excess of $10 million in
assets and liabilities.

The Debtor is related to Pacific Thomas Capital, which specializes
in real estate services, focusing on the investment, ownership and
development of commercial real estate properties, according to
http://www.pacificthomas.com/ Real estate activities has spanned  

throughout the Hawaiian Islands as well as U.S. West Coast
locations in California, Nevada, Arizona and Utah.  Hawaii based
activities are managed under the name Thomas Capital Investments.

Bankruptcy Judge M. Elaine Hammond presides over the case.  Anne-
Leith Matlock, Esq., at Matlock Law Group, P.C., serves as general
counsel.  The petition was signed by Jill V. Worsley, COO,
secretary.  Kyle Everett was named Chapter 11 trustee of the
Debtor.  Craig C. Chiang, Esq., at Buchalter Nemer, P.C., in San
Francisco, Calif., represents the Chapter 11 trustee as counsel.

In its schedules, the Debtor disclosed $19,960,679 in assets and
$16,482,475 in liabilities as of the petition date.

In January 2014, Judge Hammond entered an order holding that
Pacific Thomas Corp.'s Fourth Amended Disclosure Statement, filed
on Dec. 31, 2013, is not approved for the reasons stated on the
record at the Jan. 16 hearing.  Pursuant to the Plan, the Debtor
proposes to avail of a loan from Thorofare Capital to pay off some
secured claims.  The new loan would be refinanced by the
reorganized company before the loan terms expires.  If the
reorganized company fails to do so, the safe storage parcels of
the Pacific Thomas properties will be sold.


PEABODY ENERGY: S&P Assigns 'BB-' Rating on $500MM DIP Term Loan
----------------------------------------------------------------
S&P Global Ratings said it assigned its 'BB-' point-in-time rating
to St. Louis-based Peabody Energy Corp.'s $500 million DIP term
loan.  The corporate credit rating on the company remains 'D'.  The
$200 million bonding accommodation facility and $100 million letter
of credit facility are unrated.

This DIP loan rating is a point-in-time rating effective only for
the date of this report.  S&P will not review, modify, or provide
ongoing surveillance of the rating.  The rating is based on various
items, including the bankruptcy court orders and the DIP credit
agreement.

   -- On April 13, 2016, Peabody Energy Corp. and the majority of
      its U.S. entities filed for voluntary Chapter 11 protection
      in the U.S. Bankruptcy Court for the Eastern District of
      Missouri.

   -- On April 14, 2016, the court issued an interim order that
      authorized $200 million of the $500 million term loan
      component of the proposed $800 million DIP facilities.

   -- On May 17, 2016, the bankruptcy court issued a final order
      authorizing access to the full amount under the DIP
      facilities.  The DIP facilities constitute super-priority
      administrative expense claims.

"Our rating on a DIP facility primarily captures our view of the
likelihood of full cash repayment through the company's
reorganization and emergence from Chapter 11--our "CRE"
assessment"," said Standard & Poor's credit analyst Chiza Vitta.
"The DIP rating also considers the potential for the company to
fully repay the DIP facility if it is not successful in
reorganizing and liquidation becomes necessary.  If we believe the
DIP facility is sufficiently overcollateralized to be fully repaid
under our liquidation scenario, we assign a rating that is one or
two notches higher than the rating indicated by the CRE
assessment."

   -- S&P's rating on the $500 million DIP term loan incorporates
      a CRE assessment of 'B+'.  S&P applied a one-notch
      enhancement to the CRE assessment, based on S&P's view of
      recovery prospects under a liquidation scenario, to arrive
      at S&P's 'BB-' rating on the DIP term loan.


PETTIT OIL: Keybank's Bid for Partial Summary Judgment Granted
--------------------------------------------------------------
Judge Paul B. Snyder of the United States Bankruptcy Court for the
Western District of Washington, at Tacoma, granted Keybank National
Association's motion for partial summary judgment against IPC
(USA), Inc. in the adverary proceeding captioned KATHRYN A. ELLIS,
as Trustee for the Bankruptcy Estate of Pettit Oil Company,
Plaintiff, v. IPC (USA), INC., a California corporation; PETTIT
PROPERTIES, INC., a Washington corporation; and KEYBANK NATIONAL
ASSOCIATION, a national banking association, Defendants, Adversary
No. 14-04222 (Bankr. W.D. Wash.).

The adversary proceeding was filed on August 27, 2014 by Pettit Oil
Company's Chapter 7 Trustee, asserting claims against IPC, Pettit
Properties, Inc. and KeyBank, as amended by stipulation dated
February 6, 2015.  KeyBank disputed the amount owing by IPC to the
debtor under a consignment & service agreement entered into between
the debtor and Pettit Properties.

The bankruptcy case is In re: PETTIT OIL COMPANY, Debtor, Case No.
13-47285 (Bankr. W.D. Wash.).

A full-text copy of Judge Snyder's May 5, 2016 memorandum decision
is available at https://is.gd/ubMPVA from Leagle.com.

Kathryn A Ellis is represented by:

          Deborah A. Crabbe, Esq.
          FOSTER PEPPER PLLC

IPC (USA) Inc. is represented by:

          Jerry N. Stehlik, Esq.
          BUCKNELL STEHLIK SATO & STUBNER LLP
          Email: jstehlik@bsss-law.com

KeyBank N.A. is represented by:

          Terrence J. Donahue, Esq.
          Darren R. Krattli, Esq.
          Mark J. Rosenblum, Esq.
          EISENHOWER & CARLSON PLLC
          1201 Pacific Avenue, Suite 1200
          Tacoma, WA 98402
          Tel: (253)572-4500
          Fax: (253)272-5732
          Email: tdonahue@eisenhowerlaw.com
                 dratti@eisenhowerlaw.com
                 mrosenblum@eisenhowerlaw.com


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

      Debtor                                   Case No.
      ------                                   --------
      Phoenix Brands LLC                       16-11242
      1 Landmark Square #18
      Stamford, CT 06901

      Phoenix Brands Parent LLC                16-11243

      Phoenix North LLC                        16-11244

      Phoenix Brands Canada ULC                16-11245     

Type of Business: Manufacturer and distributor of laundry and
                  fabric care products

Chapter 11 Petition Date: May 19, 2016

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Brendan Linehan Shannon

Debtors'
General
Bankruptcy
Counsel:          Joseph T. Moldovan, Esq.
                  Robert K. Dakis, Esq.
                  MORRISON COHEN LLP
                  909 Third Avenue
                  New York, NY 10022
                  Tel: (212) 735-8600
                  E-mail: bankruptcy@morrisoncohen.com
                          rdakis@morrisoncohen.com

Debtors'
Local Counsel
Bankruptcy
Counsel:          Laura Davis Jones, Esq.
                  Joseph M. Mulvihill, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  919 N. Market Street, 17th Floor
                  Wilmington, DE 19801
                  Tel: 302 652-4100
                  Fax: 302-652-4400
                  E-mail: ljones@pszjlaw.com
                          jmulvihill@pszjlaw.com

Debtors'          
Investment
Banker:           HOULIHAN LOKEY

Debtors'          
Financial
Advisor:          GETZLER HENRICH & ASSOCIATES LLC

Debtors'          
CRO Provider:     HUNTERPOINT, LLP

Debtors'          
Canadian
Counsel:          OSLER, HOSKIN & HARCOURT LLP

Debtors'          
Claims/
Noticing
Agent:            OMNI MANAGEMENT GROUP, LLC

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petitions were signed by William Littlefield, CEO and
President.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Fifth Street Finance Corp.             Holder of      $41,113,528
Attn: General Counsel                Subordinated
10 Bank St. 12th Floor                Debt lender
White Plains, NY 10606
Tel: 914-286-6800
Fax: 91-328-4214
E-mail: mshannon@fifthstreetfinance.com

Alpla, Inc.                          Goods, Services   $1,375,753
289 Highway 155 South
McDonough, GA 30253
Fax: 770-305-7200
E-mail: octavia.chisolm@alpla.com

Marietta Corporation                 Goods, Services     $622,708
106 Central Ave.
Cortland, NY 13045
E-mail: asmith@KIKcorp.com

Menlo Worldwide Logistics            Goods, Services     $561,996
1717 NW 21st Ave
Portland, OR 97209
E-mail: jeff.harris@email.xpo.com

DS Container                         Goods, Services     $535,746
1789 Hubbard Avenue
Batavia, IL 60510
Fax: 630-406-1438
E-mail: jduffy@dscontainers.com

Menlo Warehouse                      Goods, Services     $379,846
1717 NW 21st Ave
Portland, OR 97209
E-mail: jeff.harris@email.xpo.com

Chase Products Co.                   Goods, Services     $337,881
P.O. Box 70
Maywood, IL 60153
Fax: 708-865-0230
E-mail: Janette.Gonzalez@chaseproducts

Cygnus Corp.                         Goods, Services     $322,912
340 East 138th Street
Riverdale, IL 60827
E-mail: asmith@KIKCorp.com

AKZO Chemical Corp.                  Goods, Services     $266,449
525 West Van Buren
Chicago, IL 60607
E-mail: Mary.Allen@akzonobel.com

International Paper                  Goods, Services     $217,404
E-mail: paige.craig@ipaper.com

Givaudan Fragrances Corp.            Goods, Services     $146,375
E-mail: vincent.denicola@givaudan.com

Berry Plastics Corp.                 Goods, Services     $143,517
E-mail: genaborders@berryplastics.com

AC Nielsen Inc.                      Goods, Services     $126,928
E-mail: Zion.Thomas.apnielsen.com

Multi-Color Graphics                 Goods, Services     $111,091
Email" sena.gadagbui@mcclabel.com

Aakash Chemicals                     Goods, Services      $85,687
E-mail: keith@aakashchemicals.com

Korex Chicago, LLC                   Goods, Services      $70,753
E-mail: Richard.Carmichael@Korex-us.com

Stepan Company                       Goods, Services      $61,050
E-mail: WMolley@stepan.com

Sommer Metalcraft Corp.              Goods, Services      $35,437
E-mail: marty.shaw@somercorp.com

Adesso Solutions Inc.                Goods, Services      $30,051
E-mail: bblaney@adesso-solutions.com

Shell Chemical LLP                   Goods, Services      $28,015
E-mail: Natalie.Harrison@shell.com


PHYSICAL PROPERTY: Incurs HK$167,000 Net Loss in First Quarter
--------------------------------------------------------------
Physical Property Holdings Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss and comprehensive loss of HK$167,000 on HK$294,000 of
total operating revenue for the three months ended March 31, 2016,
compared to a net loss and comprehensive loss of HK$154,000 on
HK$288,000 of total operating revenue for the thre months ended
March 31, 2015.

As of March 31, 2016, Physical Property had HK$9.06 million in
total assets, $12.35 million in total liabilities, all current and
a total stockholders' deficit of $3.29 million.

The Company has financed its operations primarily through advances
from the Principal Stockholder.

Cash and cash equivalent balances as of March 31, 2016, and
Dec. 31, 2015, were HK$79,000 (US$10,000) and HK$102,000,
respectively.

Net cash used in operating activities was HK$101,000 (US$13,000)
and HK$63,000 for the three-month periods ended March 31, 2016, and
2015, respectively.

Net cash provided by financing activities, which mainly includes
repayment of bank loans and advances from the Principal
Stockholder, were HK$78,000 (US$10,000) and HK$63,000 during the
three-month periods ended March 31, 2016 and 2015, respectively.

During the three-month periods ended March 31, 2016, and 2015, the
Company has not entered into any transactions using derivative
financial instruments or derivative commodity instruments or held
any marketable equity securities of publicly traded companies.

Consistent with the general practice of lessors of residential
apartments, the Company receives monthly rentals, which are due on
the first day of each billing period and are non-refundable.  This
practice creates working capital that the Company generally
utilizes for working capital purposes.

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

                       https://is.gd/hJ3IMc

                      About Physical Property

Physical Property Holdings Inc. (PPYH.PK) is a Hong Kong-based real
estate company.  The company buys, sells, invests in and rents real
estate in Hong Kong with five residential apartments in the area.

Physical Property reported a net loss of HK$795,000 on HK$1.07
million of rental revenue for the year ended Dec. 31, 2015,
compared to a net loss of HK$820,000 on HK$1.05 million of rental
revenue for the year ended Dec. 31, 2014.

The Company's auditors, Mazars CPA Limited, in Hong Kong, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, stating that the
Company had a negative working capital as of December 31, 2015 and
incurred losses for the year then ended, which raised substantial
doubt about its ability to continue as a going concern.


PLASTIC2OIL INC: Delays Filing of March 31 Form 10-Q
----------------------------------------------------
Plastic2Oil, Inc., was unable to file its quarterly report on Form
10-Q for the period ended March 31, 2016, within the prescribed
time period due to staffing limitations, according to a regulatory
filing with the Securities and Exchange Commission.  The Company
intends to file its Quarterly Report within the extension period
provided under Rule 12b-25, however, due to the delay in the start
of the auditor review, 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 of $4.32 million on $16,728 of
total sales for the year ended Dec. 31, 2015, compared to a net
loss of $6.80 million on $59,017 of total sales for the year ended
Dec. 31, 2014.  As of Dec. 31, 2015, Plastic2Oil had $5.39 million
in total assets, $10.31 million in total liabilities and a total
stockholders' deficit of $4.91 million.

D. Brooks and Associates CPA's, P.A., in West Palm Beach, Florida,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company has incurred operating losses, has incurred negative
cash flows from operations and has a working capital deficit. These
and other factors raise substantial doubt about the Company's
ability to continue as a going concern.


POPEXPERT INC: Selling All Assets to Tirta for $150K
----------------------------------------------------
PopExpert, Inc., filed a motion asking the U.S. Bankruptcy Court
for the Northern District of California, San Francisco Division,
for approval to sell substantially all assets to Tirta, LLC, for
$150,000, subject to overbidding.

Following several weeks of arm's-length postpetition negotiation by
its CEO, PopExpert has executed an Asset Purchase Agreement (the
"APA") with the Purchaser.  The Purchaser will acquire the
Purchased Assets for a cash purchase price of $150,000 (the
"Purchase Price").  A good-faith deposit in the amount of $25,000
is delivered under the APA, which will be used as a credit toward
the Purchase Price subject to closing of the Sale to the
Purchaser.

In addition, under the APA the Purchaser will be entitled to a
break-up fee in the amount of $30,000 (the "Break-Up Fee") in the
event the Sale closes to a third party other than Tirta.

Subject to the receipt of a qualified and timely overbid, the
Debtor believes the proposed Sale to the Purchaser is in the best
interest of creditors.  It is anticipated that the Purchaser will
likely offer employment to the Debtor's two non-executive level
employees.  The assumption and assignment of the Debtor's executory
contracts will substantially reduce potential and contingent claims
against the Debtor's estate. The Debtor believes that a sale of
PopExpert on a going concern basis to the Purchaser or a successful
overbidder will allow the Debtor to maximize the value of its
assets for the benefit of its creditors.

The Debtor is not aware of any parties with liens against the
Purchased Assets, and the Debtor's search of recordings with
the Secretary of State offices of California and Delaware indicate
that no parties hold any liens against the Purchased Assets.

The Sale to Tirta is subject to overbid.  Pursuant to the Bid
Procedures, the Debtor proposes to hold an auction at the time of
the hearing on the Debtor’s motion to approve the sale of
substantially all of the Debtor’s assets.  A hearing on the
Motion is scheduled for June 2, 2016, at 3:00 p.m.

PopExpert, Inc. is represented by:

         Ori Katz
         Robert K. Sahyan
         Matt R. Klinger
         SHEPPARD, MULLIN, RICHTER & HAMPTON LLP
         Four Embarcadero Center, 17th Floor
         San Francisco, CA 94111-4109
         Telephone: 415-434-9100
         Facsimile: 415-434-3947
         E-mail: okatz@sheppardmullin.com
                 rsahyan@sheppardmullin.com
                 mklinger@sheppardmullin.com


                         About PopExpert

PopExpert, Inc., develops and operates a number of internet
platforms that provide on demand access to lifelong learning. Its
platforms enable customers to learn from top experts around topics
that help customers improve at life, work and play.  On
popexpert.com individuals can connect with experts for live and
one-to-one video lessons in several subject areas.  The subject
areas generally involve topics of emotional intelligence or
emotional quotient (EQ), such as meditation, nutrition,
relationships, productivity, career mentoring, language, music, and
style. The experience on the PopExpert Web site --
http://www.popexpert.com/-- allows users to book and pay for
lessons, and video chat, all from their accounts, as well as to
sign up for on demand online workshops in various topics.

PopExpert, Inc., sought protection under Chapter 11 of the
Bankruptcy Code in the Northern District of California (San
Francisco) (Case No. 16-30390) on April 12, 2016.  The petition was
signed by Ingrid Sanders, chief executive officer.

The case is assigned to Judge Hannah L. Blumenstiel.

The Debtor is represented by Ori Katz, Esq., at Sheppard, Mullin,
Richter & Hampton.  

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


POSITIVEID CORP: Incurs $3.92 Million Net Loss in First Quarter
---------------------------------------------------------------
PositiveID Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $3.92 million on $1.66 million of revenues for the three months
ended March 31, 2016, compared to a net loss of $3.86 million on
$131,000 of revenues for the same period in 2015.

As of March 31, 2016, PositiveID had $3.61 million in total assets,
$17.9 million in total liabilities, and a total stockholders'
deficit of $14.3 million.

As of March 31, 2016, cash totaled $262,000 compared to cash of
$173,000 at Dec. 31, 2015.

As of March 31, 2016, the Company had a working capital deficiency
of approximately $13 million and an accumulated deficit of
approximately $148 million, compared to a working capital deficit
of approximately $10.7 million and an accumulated deficit of
approximately $144 million as of Dec. 31, 2015.  The decrease in
working capital was primarily due to operating losses for the
period, offset by cash received from capital raised through
convertible debt financings, that was spent on operations.

"We have incurred operating losses since our inception.  The
current operating losses are the result of research and development
expenditures, selling, and general and administrative expenses
related to our projects and products.  We expect our operating
losses to continue through at least the next 12 months. These
conditions raise substantial doubt about our ability to continue as
a going concern.

"Our ability to continue as a going concern is dependent upon our
ability to obtain financing to fund the continued development of
our products and to support working capital requirements.  Until we
are able to achieve operating profits, we will continue to seek to
access the capital markets.

During 2016, we will need to raise additional capital, including
capital not currently available under our current financing
agreements in order to execute our business plan."

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

                      https://is.gd/yQdE14

                       About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $11.5 million on $2.94 million of revenues for the year ended
Dec. 31, 2015, compared with a net loss attributable to common
stockholders of $8.22 million on $945,000 of revenues for the year
ended Dec. 31, 2014.

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 reported a
net loss, and used cash for operating activities of approximately
$11,404,000 and $4,507,000 respectively, in 2015.  At Dec. 31,
2015, the Company had a working capital deficiency, a stockholders'
deficit and an accumulated deficit of approximately $10,694,000,
$11,842,000 and $144,161,000 respectively.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


PRECISION OPTICS: Incurs $222,000 Net Loss in Third Quarter
-----------------------------------------------------------
Precision Optics Corporation, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $222,000 on $1.14 million of revenues for the three
months ended March 31, 2016, compared to a net loss of $197,884 on
$1.14 million of revenues for the same period in 2015.

For the nine months ended March 31, 2016, Precision reported a net
loss of $885,297 on $2.95 million of revenues compared to a net
loss of $815,546 on $2.94 million of revenues for the nine months
ended March 31, 2015.

As of March 31, 2016, Precision Optics had $2.04 million in total
assets, $1.31 million in total liabilities, all current, $33,968 in
capital lease obligation, net of current portion and $689,385 in
total stockholders' equity.

                 Liquidity and Capital Resources

"We have traditionally funded working capital needs through product
sales, management of working capital components of our business,
and by cash received from public and private offerings of our
common stock, warrants to purchase shares of our common stock or
convertible notes.  We have incurred quarter to quarter operating
losses during our efforts to develop current products including
Microprecision optical elements, micro medical camera assemblies
and 3D endoscopes.  Our management expects that such operating
losses will continue until sales increase to breakeven and
profitable levels.  Our management also believes that the
opportunities represented by these products have the potential to
generate sales increases to achieve breakeven and profitable
results.

"Until we achieve and sustain breakeven and profitable results, we
will be required to pursue several options to manage cash flow and
raise capital, including issuing debt or equity or entering into a
strategic alliance.  The sale of additional equity or convertible
debt securities would result in additional dilution to our current
stockholders, and debt financing, if available, may involve
restrictive covenants that could restrict our operations or
finances. Financing may not be available in amounts or on terms
acceptable to us, if at all.  If we are unable to secure additional
capital, we may be required to curtail our research and development
initiatives and take additional measures to reduce costs in order
to conserve our cash in amounts sufficient to sustain operations
and meet our obligations.  If we cannot raise funds on acceptable
terms or achieve positive cash flow, we may not be able to continue
to develop new products, grow market share, take advantage of
future opportunities or respond to competitive pressures or
unanticipated requirements, any of which could negatively impact
our business, operating results and financial condition, or impact
our ability to continue to conduct operations."

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

                      https://is.gd/g2MiGn

                     About Precision Optics

Headquartered in Gardner, Massachusetts, Precision Optics
Corporation, Inc., has been a developer and manufacturer of
advanced optical instruments since 1982.  The Company designs and
produces high-quality micro-optics, medical instruments and other
advanced optical systems.  The Company's medical instrumentation
line includes laparoscopes, arthroscopes and endocouplers and a
world-class product line of 3-D endoscopes for use in minimally
invasive surgical procedures.

Precision Optics reported a net loss of $1.17 million on $3.91
million of revenues for the year ended June 30, 2015, compared to a
net loss of $1.16 million on $3.65 million of revenues for the year
ended June 30, 2014.

Stowe & Degon LLC, in Westborough, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company has suffered
recurring net losses and negative cash flows from operations, which
raises substantial doubt about its ability to continue as a going
concern.


PRESIDENTIAL REALTY: Incurs $170,000 Net Loss in First Quarter
--------------------------------------------------------------
Presidential Realty Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $170,009 on $250,406 of total revenues for the three
months ended March 31, 2016, compared to a net loss of $158,900 on
$231,142 of total revenues for the same period in 2015.

As of March 31, 2016, Presidential Realty had $1.15 million in
total assets, $2.33 million in total liabilities and a total
stockholders' deficit of $1.18 million.

The Company obtains funds for working capital and investment from
its available cash.

For the three months ended March 31, 2016, the Company had a loss
from continuing operations.  This combined with a history of
operating losses and working capital deficiency, has been
detrimental to the Company's operations and could potentially
affect its ability to meet its obligations and continue as a going
concern.  The Company said its ability to continue as a going
concern is dependent upon the successful execution of strategies to
achieve profitability, and increase working capital by raising debt
and/or equity.

At March 31, 2016, the Company had $379,498 in available cash, a
decrease of $63,424 from $442,922 available at Dec. 31, 2015.  This
decrease in cash and cash equivalents was due to cash used in
operating activities of $49,230, cash used in investing activities
of $6,769 and cash used in financing activities of $7,425.

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

                    https://is.gd/Coyjfa

                   About Precision Optics

Headquartered in Gardner, Massachusetts, Precision Optics
Corporation, Inc., has been a developer and manufacturer of
advanced optical instruments since 1982.  The Company designs and
produces high-quality micro-optics, medical instruments and other
advanced optical systems.  The Company's medical instrumentation
line includes laparoscopes, arthroscopes and endocouplers and a
world-class product line of 3-D endoscopes for use in minimally
invasive surgical procedures.

Precision Optics reported a net loss of $1.17 million on $3.91
million of revenues for the year ended June 30, 2015, compared to a
net loss of $1.16 million on $3.65 million of revenues for the year
ended June 30, 2014.

Stowe & Degon LLC, in Westborough, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company has suffered
recurring net losses and negative cash flows from operations, which
raises substantial doubt about its ability to continue as a going
concern.


PRESSURE BIOSCIENCES: Incurs $5.95 Million Net Loss in 1st Quarter
------------------------------------------------------------------
Pressure Biosciences, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $5.95 million on $510,478 of total revenue for the three months
ended March 31, 2016, compared to a net loss of $2.04 million on
$440,134 of total revenue for the same period in 2015.

As of March 31, 2016, Pressure had $1.96 million in total assets,
$15.82 million in total liabilities and a total stockholders'
deficit of $13.86 million.

"We have experienced negative cash flows from operations with
respect to our pressure cycling technology business since our
inception.  As of March 31, 2016, we did not have adequate working
capital resources to satisfy our current liabilities and as a
result, we have substantial doubt regarding our ability to continue
as a going concern.  We have been successful in raising cash
through debt and equity offerings in the past and ... we completed
an over-subscribed $5 million PIPE through March 31, 2016, raising
a total of $6.3 million between July 2015 and March 2016.  We have
efforts in place to continue to raise cash through debt and equity
offerings.

"We will need substantial additional capital to fund our operations
in future periods.  In the event that we are unable to obtain
financing on acceptable terms, or at all, we will likely be
required to cease our operations, pursue a plan to sell our
operating assets, or otherwise modify our business strategy, which
could materially harm our future business prospects," the Company
said in the filing.

Net cash used in operations for the three months ended March 31,
2016, was $1,233,458 as compared to $1,050,482 for the three months
ended March 31, 2015.  The increase in cash used in operations in
2016 is principally due to the increase in loss from operations.

Cash used in investing activities for the three months ended
March 31, 2016, and 2015 was not significant.

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

                       https://is.gd/u2O9Vw

                     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.


PRICEVILLE PARTNERS: Revises List of Vehicles to Be Auctioned
-------------------------------------------------------------
Priceville Partners, LLC, on May 13, 2016, filed with the U.S.
Bankruptcy Court for the Northern District of Alabama, Northern
Division, a revised list of vehicle inventory that it intends to
sell, to include additional repossessed and returned vehicles.

The Debtor said in its Supplement to the Motion to Sell that after
filing the initial Motion, several vehicles were repossessed,
discovered, and/or returned to the Debtor by customers.

The Debtor seeks the authority to sell the vehicles on the same
terms listed in the Initial Motion To Sell.

The Revised List identifies 104 vehicles to be sold by public
auction.  A copy of the List attached to the Supplement is
available for free at:

    http://bankrupt.com/misc/Priceville_94_Sale_M.pdf

The Debtor 97 vehicles in the Initial Motion.

Priceville Partners is represented by:

         Lee R. Benton
         Samuel C. Stephens
         BENTON & CENTENP, LLP
         2019 Third Avenue North
         Birmingham, Alabama 35203
         Telephone: (205) 278-8000
         Facsimile: (205) 278-5614
         E-mail: lbenton@bcattys.com
                 sstephens@bcattys.com

                     About Priceville Partners

Decatur, Alabama-based Priceville Partners, LLC, also known as
Performance Auto Sales, is engaged in the sale of automobiles.

Priceville Partners sought Chapter 11 protection (Bankr. N.D. Ala.
Case No. 16-80675) on March 4, 2016.  The case is assigned to
Judge Clifton R. Jessup Jr.

Lee R. Benton and Samuel C. Stephens, Esq., at Benton & Centeno,
LLP, are the Debtor's bankruptcy attorneys.  Andrew P. Campbell,
Esq., and Todd Campbell, Esq., at the Law Firm Of Campbell Guin,
LLC, have been tapped as special counsel.

The Debtor estimated $500,000 to $1 million in assets and $1
million to $10 million in debt.


PRIMORSK INTERNATIONAL: June 15 Deadline to File Bid for 9 Vessels
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
approved Primorsk International Shipping Limited, et al.'s bidding
procedures after a determination that the Bid Procedures and the
Stalking Horse Bid Protections are fair, reasonable, and
appropriate, and are designed to maximize recovery with respect to
the sale of the Vessels that will provide a benefit to the Debtors'
estates and creditors.

The Troubled Company Reporter has earlier reported that the Debtors
are seeking to sell nine of their vessels, including the Zaliv
Vostok, the Zaliv Amurskiy, the Prisco Ekaterina, the Prisco Elena,
the Prisco Alexandra, the Prisco Elizaveta, the Prisco Irina, the
Zaliv Baikal and the Zaliv Amerika.

The Court also authorized the the Debtors to conduct a sale of the
Vessels and the Auction (if any) pursuant to the Bid Procedures in
accordance with the Order since the Debtors have demonstrated
compelling and sound business justifications to conduct such sale.

The Bidding Procedures contain, among others, these relevant
terms:

     (a) Coordination with the Agents: The Debtors have agreed to
share bidding information in a timely manner and consult with
representatives of their secured lenders prior to taking certain
actions in connection with the sale process, including (i) Nordea
Bank Norge ASA, in its capacity as agent and security trustee
("Facility Agent") under that certain secured loan facility
agreement ("Senior Loan Agreement") dated January 2, 2008 (as
amended from time to time) relating to a $530 million secured loan
facility, and (ii) BNP Paribas, in its capacity as agent ("Swap
Agent") under that certain swap facility agreement ("Swap Loan
Agreement") dated June 7, 2011 (as amended from time to time)
relating to a $7.5 million swap loan facility. The Agents may
share
such confidential information with the Senior Lenders and Swap
Lenders, subject to confidentiality arrangements as in effect from
time to time.

     (b) Bid Deadline: A Qualified Bidder should deliver the
required bid documents in electronic format so as to be received
not later than 12:00 p.m. on June 15, 2016.

     (c) Stalking Horse Bid Protections: If the Debtors execute an
asset purchase agreement with a Stalking Horse Bidder for the sale
of the entire fleet of Vessels, with the consent of the Agents or
the approval of the Court, the Debtors may grant such Stalking
Horse Bidder a break-up fee equal to up to 1.0% of the cash
portion
of the purchase price and may further agree to reimburse the
reasonable expenses of the Stalking Horse Bidder. If the Debtors
execute any other asset purchase agreement(s) with any other
Stalking Horse Bidder(s), the Debtors may, with the consent of the
Agents (in their sole discretion), seek Court approval to provide
each such Stalking Horse Bidder with certain bid protections
including, without limitation, a break-up fee and expense
reimbursement.

     (d) Auction: The Auction will be conducted at the offices of
White & Case LLP, 5 Old Broad Street, London EC2N 1DW, United
Kingdom or such other location as the Debtors and Agents may agree
and at a date and time to be determined by the Debtors in
consultation with the Agents.

     (e) Sale Hearing: The Sale Hearing will be held before the
Court on a date to be determined by the Debtors in consultation
with the Agents.

          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.

The Debtor disclosed total assets of $6,018,821 and total
liabilities of $351,352,076 as of the Chapter 11 filing.

Andrew G. Dietderich, Esq., at Sullivan & Cromwell LLP serves as
the Debtors' bankruptcy counsel.  AlixPartners, LLP, is the
Debtors' financial and restructuring advisor.


RICEBRAN TECHNOLOGIES: Incurs $251,000 Net Loss in First Quarter
----------------------------------------------------------------
RiceBran Technologies filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company's common shareholders of $251,000 on
$10.05 million of revenues for the three months ended March 31,
2016, compared to a net loss attributable to the Company's common
shareholders of $3 million on $9.65 million of revenues for the
same period in 2015.

As of March 31, 2016, RiceBran had $34.9 million in total assets,
$26.9 million in total liabilities and $7.66 million in total
equity attributable to the Company's shareholders.

"We continued to experience losses and negative cash flows from
operations which raises substantial doubt about our ability to
continue as a going concern.  We believe that we will be able to
obtain additional funds to operate our business, should it be
necessary, however, there can be no assurances that our efforts
will prove successful."

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

                        https://is.gd/vKLbzi

                           About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

RiceBran reported 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.

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.


S. HEMENWAY: Seeks to Find Patient Care Ombudsman Unnecessary
-------------------------------------------------------------
S. Hemenway Inc. asks the Bankruptcy Court to determine that a
Patient Care Ombudsman is not necessary.

The Debtor does not believe that appointment of a patient care
ombudsman is necessary to protect the Debtor's patients. The Debtor
alleges that there is no indication of poor patient care that
contributed in any way to the Debtor's filing of Chapter 11. Under
the present circumstances a patient care ombudsman is not necessary
to protect the Debtor's patients.

In addition, the bankruptcy will not adversely impact patients or
their rights.  The Debtor does not intend to reduce its level of
patient care.  The Debtor has sufficient safeguards to ensure the
appropriate level of care.  An ombudsman would add a substantial
and an unnecessary expense to the reorganization process.

The Debtor also states that no federal, state or local regulatory
authority has issued any disciplinary action against the Debtor.

The Debtor is represented by:

         Steven B. Nosek, Esq.
         2855 Anthony Lane South, Suite 201
         St. Anthony, MN 55418
         Tel: (612) 335-9171
         Email: snosek@noseklawfirm.com

S. Hemenway Inc., operator of a Visiting Angel franchised nursing
home, filed a Chapter 11 bankruptcy petition (Bankr. D. Minn. Case
No. 16-31466) on May 2, 2016.  The petition was signed by Scott
Hemenway, the president.  Judge Katherina A. Constantine has been
assigned the case.


SACRAMENTO COUNTY: S&P Revises Outlook on 'BB' Rating to Stable
---------------------------------------------------------------
S&P Global Ratings revised the outlook on its 'BB' rating on
Sacramento County Housing Authority, Calif.'s multifamily housing
revenue debt (the Cottage Estates apartments) to stable from
negative.

The rating service also affirmed its 'BB' rating on the debt.

S&P said, "We believe that debt service coverage and parity levels
on the remarketing date, as predicted by our cash flow models, will
likely not fall below sufficient levels during the two-year outlook
period.  Based on long-term trends, however, we believe the
probability these metrics will likely reach insufficient levels in
successive years is high," said S&P Global Ratings credit analyst
Renee Berson.  "On the other hand, if improvement in debt service
coverage and parity levels, predicted by our models, were
sufficient to reverse these trends, we could raise the rating."

S&P Global Ratings has analyzed updated financial information
assuming a current stressed reinvestment rate for all scenarios set
forth in the related criteria article based on its view of the
project's reliance on short-term market rate investments.
Therefore, the rating service believes the issue's assets and
revenue will be insufficient to pay principal and interest on the
bonds through maturity.  Also, if the security prepays, it is S&P
Global Ratings' opinion that, by 2024, there will be insufficient
assets to cover associated reinvestment risk based on the 20-day
minimum notice period required for special redemptions.

A Fannie Mae collateral agreement secures the bonds.


SANDRIDGE ENERGY: Incurs $324 Million Net Loss in First Quarter
---------------------------------------------------------------
SandRidge Energy, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a loss
applicable to the Company's common stockholders of $324 million on
$90.3 million of total revenues for the three months ended March
31, 2016, compared to a loss applicable to the Company's common
stockholders of $1.04 billion on $215 million of total revenues for
the same period in 2015.

As of March 31, 2016, SandRidge had $2.57 billion in total assets,
$4.32 billion in total liabilities, and a total stockholders'
deficit of $1.75 billion.

As of March 31, 2016, the Company's cash and cash equivalents were
$694 million, and the Company had approximately $4.0 billion in
total debt outstanding and $10.4 million in outstanding letters of
credit, which reduce availability under the senior credit facility
on a dollar for dollar basis.  Approximately $489 million of the
total debt outstanding was drawn under the senior credit facility
and held by the Company in a securities account.  As of and for the
three-month period ended March 31, 2016, the Company was not in
compliance with all applicable financial covenants under the senior
credit facility, as its ratio of current assets to current
liabilities was less than 1.0:1.0 due to the classification of its
long-term debt as current.

The Company's sources of liquidity and capital resources
historically have been proceeds from the issuance of equity and
debt securities, cash flows from operating activities, borrowings
under the senior credit facility, and proceeds from monetizations
of assets.  During the pendency of the Chapter 11 filing, the
Company's principal sources of liquidity are expected to be limited
to cash flow from operations and cash on hand.  Under the
Restructuring Support Agreement entered into on May 11, 2016, the
Consenting Creditors have consented to the use of cash collateral
during the Chapter 11 cases through the Effective Date, subject to
certain terms, conditions, and termination events. In addition to
the cash requirements necessary to fund ongoing operations, the
Company anticipates that it will continue to incur significant
professional fees and other costs in connection with the
preparation and administration of the Chapter 11 cases.

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

                      https://is.gd/jfYX2J

                     About SandRidge Energy

SandRidge Energy, Inc. (OTC PINK: SDOC) --
http://www.sandridgeenergy.com/-- is an oil and natural gas
exploration and production company headquartered in Oklahoma City,
Oklahoma, with its principal focus on developing high-return,
growth-oriented projects in the U.S. Mid-Continent and Niobrara
Shale.

SandRidge Energy, Inc. and 24 of its subsidiaries each filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Tex. Lead Case No. 16-32488) on May 16, 2016.  The petitions
were signed by Julian M. Bott as chief financial officer.

The Debtors have hired Kirkland & Ellis LLP as general bankruptcy
counsel, Zack A. Clement PLLC as local counsel, Houlihan Lokey
Capital, Inc. as financial advisor, Alvarez & Marsal Holdings, LLC
as restructuring advisor and Prime Clerk LLC as claims and noticing
agent.

The cases are assigned to Judge David R Jones.


SANDRIDGE ENERGY: Terms of Restructuring Support Agreement
----------------------------------------------------------
Prior to the filing of the bankruptcy petitions, on May 11, 2016,
SandRidge Energy, Inc., et al., entered into a restructuring
support agreement with the holders of, in the aggregate, (a)
approximately 98% by principal amount of claims under the Company's
senior credit facility, (b) approximately 79% by principal amount
of claims under the Company's senior secured second lien notes due
2020, and (c) approximately 55% by principal amount of claims under
the Company's senior unsecured notes.

The Restructuring Support Agreement sets forth, subject to certain
conditions, the commitments and obligations of the Debtors and the
Consenting Creditors to support a comprehensive restructuring of
the Company's long-term debt, convertible perpetual preferred stock
and common stock.  The Restructuring Transactions will be
effectuated through a plan of reorganization to be filed in the
Chapter 11 cases.

The Company expects its oil and gas operations to continue in the
ordinary course throughout the Chapter 11 cases.

Upon the signing of the Restructuring Support Agreement, the
Company permanently repaid approximately $40 million of borrowings
under the First Lien Credit Agreement.  In exchange, the requisite
percentage of lenders under the First Lien Credit Agreement
provided a waiver through May 31, 2016, with respect to certain
specified defaults and events of defaults under the First Lien
Credit Agreement.

The Restructuring Support Agreement provides for the following
treatment of the Company's long-term debt, convertible perpetual
preferred stock and common stock under the Plan on its effective
date:

   * First Lien Credit Agreement Claims.  Claims under the First
     Lien Credit Agreement will receive their proportionate share
     of (a) $35 million in cash and (b) participation in a new
     $425 million reserve-based revolving credit facility.

   * Second Lien Note Claims.  The Second Lien Notes will receive
     their proportionate share of (a) $300 million of new
     mandatorily convertible debt, and (b) 85% of new common stock
     in the reorganized Company, as fully diluted by the New
     Mandatory Convertible Debt measured through the conversion
     date, subject to dilution by (i) new warrants, (ii) a rights
     offering, and (iii) a customary employee incentive plan.
     Holders of Second Lien Notes may also be entitled to
     participate in the Rights Offering under specified
     circumstances.

   * General Unsecured Claims.  The Company's general unsecured
     claims, including the Unsecured Senior Notes, will receive
     their proportionate share of (a) $10 million in cash, (b) 15%
     of the New Common Stock, as fully diluted by the New
     Mandatory Convertible Debt measured through the conversion
     date, subject to dilution by the Employee Incentive Plan, the

     Rights Offering, and the Warrants, (c) the Warrants, and (d)
     the cash proceeds of a new $35 million non-recourse note
     secured by mortgages on certain real property.  Holders of
     general unsecured claims, including the Unsecured Senior
     Notes, may also be entitled to participate in the Rights
     Offering under specified circumstances.

   * Preferred and Common Stock.  The Company's existing 7.0% and
     8.5% convertible perpetual preferred stock and common stock
     will be canceled and released under the Plan without
     receiving any recovery on account thereof.

The Restructuring Support Agreement provides for the following new
debt and other instruments:

   * New First Lien Exit Facility.  The New First Lien Exit
     Facility will have an initial borrowing base of $425 million
     with no borrowing base redeterminations to occur until
     October 2018 and semiannual borrowing base redeterminations
     thereafter.  The New First Lien Exit Facility will mature on
     the earlier of March 31, 2020, or 40 months from the
     Effective Date, with interest payable quarterly at LIBOR plus

     4.75% per annum, subject to a 1.00% LIBOR floor.  The New
     First Lien Exit Facility will be secured by (i) first-
     priority mortgages on at least 95% of the PV-9 pricing of the

     proved developed producing reserves and 95% of the PV-9
     pricing of all proved reserves included in the most recently
     delivered reserve report, (ii) a first-priority perfected
     pledge of capital stock of each credit party and their
     respective wholly owned subsidiaries and (iii) a first-
     priority security interest in the cash, cash equivalents,
     deposit, securities and other similar accounts, and a first-
     priority perfected security interest in substantially all
     other tangible (other than the Company's headquarters in
     Oklahoma City) and intangible assets of the credit parties
    (including but not limited to as-extracted collateral,
     accounts receivable, inventory, equipment, general
     intangibles, investment property, intellectual property, real

     property and the proceeds of the foregoing).  The New First
     Lien Exit Facility is subject to a variety of other terms and

     conditions including conditions precedent to funding,
     financial covenants, and various other covenants and
     representations and warranties.

   * New Mandatory Convertible Debt.  The New Mandatory
     Convertible Debt will have a principal amount of $300 million

     with interest payable in-kind semiannually at 15% per annum.
     The New Mandatory Convertible Debt will mandatorily convert
     to at least 26.1% of the New Common Stock (measured as of the

     Effective Date and compounded semiannually at 15% per annum)
     no later than four years after the Effective Date or upon the

     occurrence of certain specified conversion events.  The New
     Mandatory Convertible Debt is subject to being fully or
     partially secured by springing liens in the same collateral
     as the New First Lien Exit Facility only upon the occurrence
     of certain specified litigation events expected to result in
     a material adverse effect on the business of the reorganized
     Company.

   * Warrants.  The Warrants to purchase up to 12.5% of the New
     Common Stock will be exercisable at any time, in whole or in
     part, until their expiration date for a per share price
     based upon a $1.625 billion aggregate value of the New Common

     Stock at the trailing 30-day volume-weighted average price.
     The expiration date for the Warrants will be six years from
     the Effective Date.

   * New Building Note.  The New Building Note will have a
     principal amount of $35 million and be secured by first
     priority mortgages on the Company's headquarters facility and
     certain other non-oil and gas real property.  Interest will
     be payable on the New Building Note at 6% per annum for the
     first year following the Effective Date, 8% per annum for the

     second year following the Effective Date, and 10% thereafter
     through maturity.  Interest will be payable in kind from the
     Effective Date through the earlier of Sept. 30, 2020, 46
     months from the Effective Date or 90 days after the
     refinancing or repayment of the New First Lien Exit Facility
     and thereafter in cash.  The New Building Note will mature
     five years after the Effective Date.  Under the Restructuring

     Support Agreement, certain holders of the Unsecured Senior
     Notes have committed to purchase the New Building Note for
     $20 million in cash on the Effective Date.

   * Rights Offering.  The Restructuring Support Agreement
     entitles the Debtors to implement a Rights Offering for up to

     $150 million of New Common Stock at a valuation of the lesser

     of (a) $1.215 billion or (b) 90% of the equity value under
     the Plan.  The Consenting Creditors are exclusively entitled
     to purchase the Rights Offering equity until the earlier of
     30 days following approval of a disclosure statement by the
     Bankruptcy Court, 15 days before the date of the confirmation

     hearing set forth in the disclosure statement order or 90
     days after the Chapter 11 filing.

The Restructuring Support Agreement includes the following
additional terms, among others:

   * Consensual Cash Collateral Use.  The Company intends to fund
     ongoing operations and other cash needs during the Chapter 11

     cases with cash on hand and cash from operations.  Under the
     Restructuring Support Agreement, the Consenting Creditors
     have consented to the use of cash collateral during the
     Chapter 11 cases through the Effective Date, subject to
     certain terms, conditions, and termination events.

   * Releases.  The Plan will provide for releases of specified
     claims held by the Debtors, the Consenting Creditors, and
     certain other specified parties against one another and for
     customary exculpations and injunctions.

   * Employee Incentive Plan.  The Employee Incentive Plan
     contemplates the issuance of up to 10% of pro forma ownership

     interests in the reorganized Company to officers and/or other

     employees of the reorganized Company.  The Employee Incentive

     Plan will be subject to approval of the board of directors of

     the reorganized Company.

The Restructuring Support Agreement commits each of the Debtors to,
among other things, and subject to certain conditions: (a) support
and take all reasonably necessary and appropriate actions to obtain
approval by the Bankruptcy Court of the Plan and to effectuate the
Restructuring Transactions, (b) take no action that is inconsistent
or is likely to interfere with the Restructuring Transactions, and
(c) comply with certain operating covenants.

The Restructuring Support Agreement may be terminated upon the
occurrence of certain events, including the failure of certain
general unsecured claims to be below specified thresholds, the
failure to meet certain milestones related to cash collateral and
the Plan, and upon certain breaches by the Debtors and the
Consenting Creditors under the Restructuring Support Agreement. The
Restructuring Support Agreement is subject to termination if the
Effective Date has not occurred within 225 days of the bankruptcy
filing.  There can be no assurance that the Plan will be
consummated.

A full-text copy of the Restructuring Support and Lock-up Agreement
is available for free at https://is.gd/Ffde12

                      About SandRidge Energy

SandRidge Energy, Inc. (OTC PINK: SDOC) --
http://www.sandridgeenergy.com/-- is an oil and natural gas
exploration and production company headquartered in Oklahoma City,
Oklahoma, with its principal focus on developing high-return,
growth-oriented projects in the U.S. Mid-Continent and Niobrara
Shale.

SandRidge Energy, Inc. and 24 of its subsidiaries each filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Tex. Lead Case No. 16-32488) on May 16, 2016.  The petitions
were signed by Julian M. Bott as chief financial officer.

The Debtors have hired Kirkland & Ellis LLP as general bankruptcy
counsel, Zack A. Clement PLLC as local counsel, Houlihan Lokey
Capital, Inc. as financial advisor, Alvarez & Marsal Holdings, LLC
as restructuring advisor and Prime Clerk LLC as claims and noticing
agent.

The cases are assigned to Judge David R Jones.


SEVENTY SEVEN ENERGY: S&P Cuts CCR to D on Missed Interest Payment
------------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on Oklahoma
City-based onshore oilfield services Seventy Seven Energy Inc. to
'D' from 'CC'.

At the same time, S&P lowered its issue-level ratings on the
company's senior secured loans to 'D' from 'CCC', senior unsecured
notes to 'D' from 'CC', and structurally subordinated notes to 'D'
from 'C'.  The recovery rating on the senior secured loan remains
'1', indicating very high (90% to 100%) recovery in the case of a
payment default.  S&P lowered the recovery rating on the senior
unsecured notes to '5' from '3', indicating modest (10% to 30%; at
the lower half of the range) recovery in the case of a payment
default.  The recovery rating on the subordinated notes remains
'6', indicating negligible (0% to 10%) recovery in the case of a
payment default.

The downgrade follows SSE's announcement that it elected not to
make the May 15, 2016, interest payment on the 6.625% senior
unsecured notes due 2019.  S&P expects the company to commence
Chapter 11 proceedings before the end of the 30-day-grace period
and S&P do not envision additional interest payments on the
remaining debt.


SHASTA ENTERPRISES: Trustee Selling Red Bluff Property for $640K
----------------------------------------------------------------
Hank M. Spacone, the duly-appointed Chapter 11 trustee for Shasta
Enterprises, on May 16, 2016, filed a motion asking the U.S.
Bankruptcy Court for the Eastern District of California, Sacramento
Division, for an order approving the sale of the real property
commonly known as 2000 Trainor Street, Red Bluff, California, to PJ
Helicopters Inc., for $640,000, subject to overbidding pursuant to
Section 363 of the Bankruptcy Code..

The Trustee seeks approval to pay (i) the real property taxes for
the Real Property through and including the closing date, including
past due real property taxes in the estimated amount of $24,734 and
pro-rated property taxes not yet due or payable as provided in the
sale agreement; and  (ii) $515,000 from the sale proceeds to Joe L.
Curto and L. Lavone Curto, Trustees of the Curto Family Trust dated
2/8/07 (the "Curto Trust"), in full satisfaction of a loan secured
by the Curto Trust's deed of trust on the Real Property.

A hearing on the Trustee's Motion is scheduled for June 13, 2016,
at 10:00 a.m.

The Trustee proposes a "short-sale" of the Real Property based upon
a release price of $515,000 for the Curto Trust's deed of trust.
The Trustee estimates that the sale will result in approximately
$35,000 in net proceeds for the estate after payment of closing
costs, amounts scheduled to be paid out of escrow and
administrative expenses related to the sale.  The Curto Trust has
agreed, in consideration for the Trustee's sale of the Real
Property, to waive its deficiency claim on the loan secured by the
Real Property.

The Trustee seeks approval for payment of a commission in the
amount of 5% of the gross sales price of $640,000 for a total
commission amount of $32,000 (the "Commission").  MERIT represents
both the Buyer and the Seller in this transaction, so the full
Commission would be paid to MERIT upon close of escrow with the
Buyer.  If the Real Property is sold to an overbidder and the
successful over-bidder is represented by another broker, the
Commission will be split 50/50 by MERIT and the broker for the
successful over-bidder.

The Sale Agreement further provides that the Estate will pay unpaid
and pro-rated real property taxes and customary closing costs such
as escrow fees, title insurance fees, and recording fees as
provided in the Sale Agreement.

The Curto Trust has agreed to release its Deed of Trust and all
liens on the Property in exchange for receipt of $515,000 (the
"Release Payment") out of escrow from the proceeds of the sale of
the Property in satisfaction of the indebtedness secured by the
Deed of Trust held by the Curto Trust.  It has also acknowledged
that the Trustee intends to sell the Real Property subject to
overbidding and agrees that the Release Payment shall not be
adjusted in the event of any changes in the sale price.

Attorneys for the Chapter 11 Trustee:

         Donald W. Fitzgerald
         Jason E. Rios
         FELDERSTEIN FITZGERALD WILLOUGHBY & PASCUZZI LLP
         400 Capitol Mall, Suite 1750
         Sacramento, CA 95814
         Telephone: (916) 329-7400
         Facsimile: (916) 329-7435
         E-mail: dfitzgerald@ffwplaw.com
                 jrios@ffwplaw.com

                    About Shasta Enterprises

Redding, California-based Shasta Enterprises, dba Vidal Vineyards,
dba Silverado Knolls, dba Villa Vidal Vineyards, sought bankruptcy
protection (Bankr. E.D. Cal. Case No. 14-30833) on Oct. 31, 2014.
The petition was signed by Antonio Rodriguez, general partner.

Judge Michael S. McManus presides over the case. The Debtor's
counsel is David M. Brady, Esq., at Law Office of Cowan & Brady,
in
Redding, California.

The Debtor disclosed total assets of $33.4 million and total debt
of $21.5 million.

The Court, on Dec. 29, 2014, approved the appointment of Hank
Spacone as the Chapter 11 trustee of the Debtor's estate.


SHERWIN ALUMINA: Agrees to Pay $4K to Settle MSHA Violations
------------------------------------------------------------
Judge David R. Jones of the U.S. Bankruptcy Court for the Southern
District of Texas, Corpus Christi Division, authorizes Sherwin
Alumina Company, LLC, et al., to enter into certain settlements
with the U.S. Secretary of Labor on behalf of the Mine Safety and
Health Administration.

The MSHA has proposed civil penalties for the citations issued
against the Debtors for certain mine safety and health violations
relating to Mine Identification Number 41-00906. The
representatives for the Secretary and the Debtors have discussed
the alleged violations and MSHA's proposed penalties, and seek to
settle the contested citations and penalties, inter alia, as
follows:

   (a) Citation Number 8860674.  The parties propose to modify the
citation because the Debtors has limited/reduced exposure to hazard
when the Debtors installed notice for employees to keep out of the
restricted area -- to block off the oil spill area reducing the
likelihood of slips, trips, or other serious injury to the
employees.

   (b) Citation Number 8862840.  The parties propose to modify the
citation and the Secretary agrees to the modification for the
limited/reduced exposure to the hazard, and according to the
Debtors the employee is wearing mono-goggles, a full slicker suit,
and a face shield while washing down the Area 35 process pad, and
has removed his mono-goggles for a few seconds to wipe the sweat
from his eyes -- the nearest caustic liquor being sprayed while the
mono-goggles are removed is approximately 30 feet away.

The Debtors agree to pay the total, revised penalties of $4,025,
and the Secretary agrees that the settlement amount will be a
general unsecured claim that will be paid in accordance with
Sherwin's Chapter 11 Plan.  The Debtors will withdraw its Notice of
Contest upon approval of this settlement by the Mine Safety and
Health Review Commission.

Counsel for Mine Safety and Health:

       Mary Kathryn Cobb, Esq.
       U.S. DEPARTMENT OF LABOR
       Office of the Solicitor
       525 Griffin Street, Suite 501
       Dallas, Texas 75202
       Telephone: (972) 850-3100
       Facsimile: (972) 850-3101

             About Sherwin Alumina Company

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc., filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  Judge David
R. Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.

The Debtors, on Feb. 5, 2016, the disclosed total assets of
$254,617,187 and total liabilities of $218,177,760.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  Robin Russell, Esq., Timothy S. McConn,
Esq., and Ashley Gargour, Esq., at Andrews Kurth LLP, in Houston,
Texas, represent the Committee.


SHERWIN ALUMINA: Given More Time to Negotiate Bauxite Supply Deal
-----------------------------------------------------------------
Sherwin Alumina Company, LLC, et al., and Noranda Bauxite Limited
entered into a stipulation and agreed order providing the Debtors
with additional time to engage in discussions with NBL regarding a
new bauxite supply agreement.

The stipulation was entered into in connection to the Debtors and
NBL’s Mediation before U.S. Bankruptcy Judge Marvin Isgur, after
reaching a commercial arrangement with NBL that would allow the
Debtors’ enterprise to remain viable as a going-concern.

On the heels of the Debtors' recent global settlement with the the
Official Committee of Unsecured Creditors appointed in these
chapter 11 cases and Commodity Funding, LLC, the Prepetition
Secured Lender, the Debtors have reached an interim arrangement
pursuant to which NBL has agreed to continue to supply bauxite to
the Debtors for an interim period of 90 days -- allowing the
Debtors to secure a steady supply of bauxite (the key ingredient in
the alumina production process) through August 2016 -- on the terms
set forth in the Stipulation and Order, notwithstanding the
Bankruptcy Court for the Eastern District of Missouri’s Order
authorizing NBL to reject the Bauxite Supply Agreement.

A new bauxite supply agreement is a precondition for the Debtors to
remain viable as a going-concern and to continue to operate their
Gregory, Texas facility that directly or indirectly supports more
than 2,000 jobs along the Gulf Coast.

Furthermore, the Stipulation and Order preserves for the Debtors'
benefit the value of reductions of certain levies, royalties, fees,
or other charges payable to the Government of Jamaica or other
forms of economic relief from the Government of Jamaica.

The parties further agreed that the Debtors will withdraw with
prejudice the Rejection Order Appeal, NBL will withdraw with
prejudice the NBL Stay Relief Motion, and (c) Sherwin will withdraw
with prejudice the Sherwin Assumption Motion.  The mediation
currently pending in the Texas Bankruptcy Court between the
Debtors, NBL and certain third parties will be suspended solely as
it relates to NBL, unless and until the Debtors and NBL request
resumption thereof.

Counsel for the Debtors and Debtors in Possession:

       Christopher Marcus, P.C.
       Joshua A. Sussberg, P.C.
       KIRKLAND & ELLIS LLP
       KIRKLAND & ELLIS INTERNATIONAL LLP
       601 Lexington Avenue
       New York, New York 10022
       Telephone: (212) 446-4800
       Facsimile: (212) 446-4900
       Email: christopher.marcus@kirkland.com
              joshua.sussberg@kirkland.com

       -- and --

       James H.M. Sprayregen, P.C.
       Gregory F. Pesce, Esq.
       KIRKLAND & ELLIS LLP
       KIRKLAND & ELLIS INTERNATIONAL LLP
       300 North LaSalle
       Chicago, Illinois 60654
       Telephone: (312) 862-2000
       Facsimile: (312) 862-2200
       Email: james.sprayregen@kirkland.com
              gregory.pesce@kirkland.com

       -- and --

       Zack A. Clement, Esq.
       ZACK A. CLEMENT PLLC
       3753 Drummond
       Houston, Texas 77025
       Telephone: (832) 274-7629
       Email: zack.clement@icloud.com

Noranda Bauxite Limited is represented by:

       Alan W. Kornberg
       PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
       1285 Avenue of the Americas
       New York, New York 10019-6064
       Telephone: (212) 373-3209
       Facsimile: (212) 492-0209
       Email: akornberg@paulweiss.com

             About Sherwin Alumina Company

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc., filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  Judge David
R. Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.

The Debtors, on Feb. 5, 2016, the disclosed total assets of
$254,617,187 and total liabilities of $218,177,760.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  Robin Russell, Esq., Timothy S. McConn,
Esq., and Ashley Gargour, Esq., at Andrews Kurth LLP, in Houston,
Texas, represent the Committee.


SKYLINE CORP: To Open Manufacturing Facility in Indiana
-------------------------------------------------------
Skyline Corporation has announced that it is opening a factory in
Elkhart, Indiana.  The manufacturing facility in Elkhart will
produce affordable housing solutions for communities in Indiana,
Illinois, and Michigan.  It is expected to commence manufacturing
at the end of May.

"The opening of the Elkhart facility is in response to growing
demand for our existing community partners," stated Skyline
President and Chief Executive Officer Rich Florea.  "The Elkhart
plant will enable us to more efficiently and effectively deliver
our Skyline Quality and Service to our customers in Indiana,
Illinois and Michigan."

Skyline Corporation is celebrating its 65th year in business and
has manufacturing facilities in Indiana, Pennsylvania, Ohio,
Florida, Wisconsin, Kansas, Texas, California, and Oregon.

                         About Skyline Corp

Skyline Corporation was originally incorporated in Indiana in 1959,
as successor to a business founded in 1951.  Skyline Corporation
and its consolidated subsidiaries designs, produces and markets
manufactured housing, modular housing and park models to
independent dealers and manufactured housing communities located
throughout the United States and Canada.  Manufactured housing is
built to standards established by the U.S. Department of Housing
and Urban Development, modular homes are built according to state,
provincial or local building codes, and park models are built
according to specifications established by the American National
Standards Institute.

For the year ended May 31, 2015, the Company reported a net loss of
$10.41 million compared to a net loss of $11.9 million for the
year ended May 31, 2014.

As of Feb. 29, 2016, Skyline Corp had $50.5 million in total
assets, $26.7 million in total liabilities and $23.8 million in
total shareholders' equity.

Crowe Horwath LLP, in Fort Wayne, Indiana, issued a "going concern"
qualification on the consolidated financial statements for the year
ended May 31, 2015, citing that the Company has incurred recurring
operating losses and negative cash flows from operating activities.
The Company has a line of credit in place, however prospective
debt covenant violations may limit the Company's ability to access
these funds which would impact its liquidity.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


SOUTHERN REGIONAL: Seeks to Terminate Pension Plan
--------------------------------------------------
Clayton General, Inc., f/k/a Southern Regional Health System, Inc.,
et al., seek authority from the Bankruptcy Court to terminate their
pension plan and enter into an agreement with Pension Benefit
Guaranty Corporation for the appointment of a trustee under Pension
Plan.

The Debtors maintain the Southern Regional Health System Inc.
Retirement Plan, providing retirement benefits for certain of its
employees, covered by Title IV of ERISA; however, the Buyer of
substantially all of the Debtors' assets did not assume the pension
liabilities as part of the sale transaction.

Currently, the PBGC has issued to the Debtors a Notice of
Determination that the Plan will be unable to pay benefits when
due, and that the Plan should be terminated, while the Debtors
believe that the PBGC will be better suited to administer the
Pension Plan on an ongoing basis, thus, the Parties now asks for
the Court's approval of its Agreement, where the Parties agree,
among others, that:

   a. The Plan is terminated on October 31, 2015.

   b. PBGC is appointed trustee of the Plan.

   c. The Debtor and any other person having possession or control
of any records, assets or other property of the Plan shall convey
and deliver to PBGC any such records, assets or property in a
timely manner. PBGC reserves all its rights to pursue such records,
assets, and other property by additional means, including but not
limited to issuance of administrative subpoenas.

   d. PBGC will have all of the rights and powers of a trustee
specified in ERISA or otherwise granted by law with respect to the
Plan.

Clayton General, Inc. f/k/a Southern Regional Health System, Inc.,
et al.

        J. Robert Williamson, Esq.
        Ashley Reynolds Ray, Esq.
        Matthew W. Levin, Esq.
        SCROGGINS & WILLIAMSON, P.C.
        One Riverside
        4401 Northside Parkway, Suite 450
        Atlanta, Georgia 30327
        Telephone: (404) 893-3880
        Facsimile: (404) 893-3886
        Email: rwilliamson@swlawfirm.com
               aray@swlawfirm.com
               mlevin@swlawfirm.com

             About Southern Regional Health

Southern Regional Health System, Inc., owns the Southern Regional
Medical Center, a 331-licensed bed full-service hospital located in
Riverdale, Georgia.  Managed by Emory Healthcare, Inc., the
hospital serves residents throughout the region south of Atlanta.
As a leader in neurologic, heart & vascular, bariatric, and women's
healthcare services, Southern Regional's medical staff is comprise
of more than 480 physicians that blend their passion for healing
with advanced technology to offer the latest procedures and
treatments.

Southern Regional and its subsidiaries sought Chapter 11 protection
(Bankr. N.D. Ga. Case No. 15-64266) on July 30, 2015, in Atlanta,
Georgia.  The cases are assigned to Judge Wendy L. Hagenau.

Southern Regional Health System, Inc. disclosed total assets of
$41,996,075 and total liabilities of $42,884,499.  The Debtors'
secured creditors are Gemino Healthcare Finance, LLC, and U.S.
Foods, Inc.

Gemino claims to be owed in excess of $10 million, while U.S. Foods
has a $60,000 claim.

The Debtors tapped Scroggins & Williamson, P.C., as bankruptcy
attorneys, Nelson Mulins Riley & Scarborough LLP, as outside
general counsel, and Kurtzman Carson Consultants LLC as claims and
balloting agent.  GGG Partners, LLC serves as financial advisors to
the Debtors.

The Official Committee of Unsecured Creditors tapped Lamberth,
ifelli, Ellis & Nason, P.A., and Pepper Hamilton, LLP, as
attorneys.  PricewaterhouseCoopers LLP serves as its financial
advisors.

                                            *     *     *

Prime Healthcare has submitted a letter of intent to purchase most
of Southern Regional's assets, and would operate the hospital after
the proposed sale.  Prime has agreed to provide the Debtors with
$9.2 million of DIP financing.


SPENDSMART NETWORKS: Delays Filing of March 31 Form 10-Q
--------------------------------------------------------
SpendSmart Networks, Inc., filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
March 31, 2016.     

                    About SpendSmart Networks

SpendSmart Networks provides proprietary loyalty systems and a
suite of digital engagement and marketing services that help local
merchants build relationships with consumers and drive revenue.
These services are implemented and supported by a vast network of
certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing and website
development.  Consumers' dollars go further when they spend it with
merchants in the SpendSmart network of merchants, as they receive
exclusive deals, earn rewards and ultimately build a connection
with their favorite merchants.

Spendsmart Networks reported a net loss of $11.9 million on $5.58
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss of $12.2 million on $4.03 million of total
revenues for the year ended Dec. 31, 2014.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has recurring losses
and has yet to establish a profitable operation and at December 31,
2015 has negative working capital and stockholders' deficit.  These
factors among others raise substantial doubt about its ability to
continue as a going concern.


SQUARETWO FINANCIAL: Cancels Registration of 11.625% Lien Notes
---------------------------------------------------------------
SquareTwo Financial Corporation filed with the Securities and
Exchange Commission a Form 15 to terminate the registration of its
11.625% Senior Second Lien Notes due 2017 under Section 12(g) of
the Securities Exchange Act of 1934.  

                        About SquareTwo

SquareTwo Financial Corporation is a Delaware corporation that was
organized in February 1994 and is headquartered in Denver,
Colorado.  On Aug. 5, 2005, CA Holding, Inc. acquired 100% of the
outstanding stock of SquareTwo Financial Corporation and its
subsidiaries.  The Company claims to be a leading purchaser of
charged-off consumer and commercial receivables in the accounts
receivable management industry.

SquareTwo Financial reported a net loss attributable to the Company
of $119 million on $203 million of total revenues for the year
ended Dec. 31, 2015, compared to a net loss attributable to the
Company of $39.5 million on $247 million of total revenues for the
year ended Dec. 31, 2014.  As of Dec. 31, 2015, SquareTwo had $308
million in total assets, $455 million in total liabilities and a
total deficiency of $147 million.

Ernst & Young, LLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has incurred
significant operating losses and has liabilities significantly in
excess of assets.  The auditors said that without access to
additional liquidity, the Company does not expect it will be able
to fund its obligations as they come due in 2016 and beyond, which
raises substantial doubt about its ability to continue as a going
concern.


STATION CASINOS: Moody's Hikes Corporate Family Rating to B1
------------------------------------------------------------
Moody's Investors Service upgraded Station Casinos LLC's Corporate
Family Rating and Probability of Default Rating to B1 and B1-PD,
respectively, and upgraded the senior unsecured rating to B3.
Moody's assigned ratings to Station's proposed senior secured
revolving credit facility, Term Loan A, and Term Loan B - all at
Ba3. Moody's assigned a Speculative Grade Liquidity rating of
SGL-1. Moody's upgraded Station's existing senior secured revolving
credit facility and Term Loan B -- each to Ba3; Moody's will
withdraw these ratings when the new proposed senior secured
facilities close. This concludes the review for upgrade that
commenced on May 13, 2016.

The rating upgrade reflects rising revenues and solid flow through
to EBITDA and Moody's expectation that Station has the willingness
and ability to reduce lease adjusted debt/EBITDA below 5.0x within
the next 12 months. The upgrade considers the buyout of the
existing management agreement that will have a net positive impact
on EBITDA and improving economic conditions in Las Vegas that will
bolster gaming demand and drive further increases in revenues and
EBITDA. Additionally, Moody's expects Station can easily absorb the
acquisition of The Palms and enhance this property's EBITDA through
cost reductions and revenue enhancement as this property becomes
part of Station's loyalty program, Boarding Pass Rewards. Moody's
estimates year end 2016 lease-adjusted debt/EBITDA pro-forma for a
full year of EBITDA from the Palms will be 5.0x.

Upgrades:

-- Issuer: Station Casinos LLC

-- Probability of Default Rating, Upgraded to B1-PD from B2-PD

-- Corporate Family Rating, Upgraded to B1 from B2

-- Senior Secured Bank Credit Facility, Upgraded to Ba3(LGD3)
    from B1(LGD3)

-- Senior Unsecured Regular Bond/Debenture, Upgraded to B3(LGD6)
    from Caa1(LGD6)

Assignments:

-- Issuer: Station Casinos LLC

-- Senior Secured Bank Credit Facility (Local Currency), Assigned

    Ba3(LGD3)

-- Speculative Grade Liquidity Rating, Assigned to SGL-1

Outlook Actions:

-- Issuer: Station Casinos LLC

-- Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

Station's B1 Corporate Family Rating reflects improving revenues
and rising margins, strong free cash flow, and Moody's expectation
the company has the willingness and ability to maintain
lease-adjusted debt/EBITDA between 4.5x-5.0x over the long term.
Ratings are supported by high consolidated EBITDA margins (around
30%) which are above most regional casino peers, limited supply
growth in the Las Vegas locals market, and an improving economic
environment in the Las Vegas region. The ratings take into account
the renewal risk related to the company's profitable Native
American management agreements which expire in 2018 and 2020 and
represented about 14% of EBITDAM (EBITDA before management fees) in
2015.

The rating outlook is stable reflecting favorable market and
economic conditions in the Las Vegas area that will propel modest
growth in revenues and EBITDA in the 3%-5% range that will enable
the company to maintain lease- adjusted debt/EBITDA in its stated
4.5x-5.0x range. Ratings could be upgraded if lease adjusted
debt/EBITDA could be sustained below 4.5x taking into account the
potential loss of EBITDA from existing management agreements with
Native American tribes. An upgrade would require the company to
have solid liquidity and EBIT/interest coverage of 3.0x. Ratings
could be lowered if monthly gaming revenue trends or economic
conditions in Las Vegas metropolitan area were to show signs of
deterioration and if lease-adjusted debt/EBITDA is sustained above
5.0x.

Station owns and operates nine major hotel/casino properties and
ten smaller casino properties (three of which are 50% owned) in the
Las Vegas metropolitan area. Station also manages the Gun Lake
Casino in Michigan on behalf of the Match-E-Be-Nash-She-Wish Band
of Pottawatomi Indians pursuant to a seven year contract that
expires in 2018, and the Graton Resort & Casino located in Sonoma
County, CA on behalf of The Federated Indians of Graton Rancheria.
The Graton contract also has a seven year term and expires in 2020.
Station's net revenue for the latest 12 months ended March 31, 2016
was $1.4 billion.


STELLAR BIOTECHNOLOGIES: Has Joint Venture Agreement with Neovacs
-----------------------------------------------------------------
Stellar Biotechnologies, Inc. and Neovacs S.A. announced their
entry into a joint venture agreement to manufacture and sell
conjugated therapeutic vaccines using Stellar's proprietary Keyhole
Limpet Hemocyanin (KLH).

The purpose of the Joint Venture is to produce Neovacs' Kinoid
immunotherapy product candidates, including IFNa-Kinoid, as well as
potentially manufacture and sell other KLH-based immunotherapy
vaccine products to third party customers worldwide.

Neovacs is a leader in the development of active immunotherapies
for autoimmune and inflammatory diseases.  Neovacs' patented Kinoid
technology combines a targeted cytokine attached to a carrier
protein as the immune-stimulating molecule.  Neovacs' lead product
candidate is IFNa-Kinoid a conjugated vaccine based on IFNa and KLH
from Stellar.  IFNa-Kinoid is in a multicenter Phase IIb clinical
trial in Europe, Asia and Latin America for the treatment of
moderate to severe systemic lupus erythematosus (lupus).  Neovacs
recently received FDA permission to extend the Phase IIb clinical
trial of IFNa-Kinoid to the United States.  The IFNa-Kinoid
development program was recently expanded to include
Dermatomyositis, an orphan indication in which IFNa plays an
important role.

In January 2016, Neovacs secured public financing of EUR5 million
from The General Commission for Investment operated by Bpifrance.
Nevoacs plans to use these funds to establish the manufacturing
facility that will produce Neovacs' immunotherapy vaccines,
including IFNα-Kinoid.

Under the terms of the Joint Venture agreement, Stellar and Neovacs
will form a company in France to carry out the business of the
partnership including, but not limited to, operational activities,
staffing, and the negotiation of agreements related to supply and
services for the Joint Venture.  The formation of the Joint Venture
Company is expected to close on or before June 30, 2016.  The Joint
Venture Company will be owned initially 70% by Neovacs, with
Stellar holding the remaining 30% interest.  The Joint Venture will
be governed by a three-member board of directors, two of whom will
be appointed by Neovacs and one appointed by Stellar.  Stellar will
have certain minority shareholder rights requiring, among other
things, unanimity for approval of by the board and/or shareholders
of certain key decisions.  The Joint Venture has an initial
ten-year term, renewable for successive five-year terms.

Miguel Sieler, chief executive officer of Neovacs said, "This joint
venture with Stellar Biotechnologies is an important alliance
because it further strengthens Neovacs' industrial plan. Neovacs
has secured funding to move forward on the manufacturing facility
and now this joint venture provides access to scalable capacity of
KLH which is a key component of our Kinoid technology. These steps
will support the manufacturing infrastructure as we progress
through clinical trials and to potential market launch of our
KLH-Kinoid immunotherapy vaccines."

"This partnership is both a natural extension of Stellar's strong
relationship with Neovacs and, we believe, a unique opportunity for
Stellar.  It will position Stellar to benefit from the anticipated
manufacturing and sale of finished immunotherapy products and to
advance the market for our KLH protein products," stated Frank
Oakes, president, CEO and Chairman of Stellar Biotechnologies, Inc.
"Through this joint venture, Stellar and Neovacs can work together
to ensure the success of Neovacs products like IFNα-Kinoid for
lupus while we lay the groundwork to offer similar support to other
companies developing KLH-based immunotherapies."

A copy of the Joint Venture Agreement is available for free at:

                       https://is.gd/q5SOzy

                           About Neovacs

Created in 1993, Neovacs S.A. (ALTERNEXT PARIS: ALNEV) is today a
leading biotechnology company focused on an active immunotherapy
technology platform (Kinoids) with applications in autoimmune
and/or inflammatory diseases.  On the basis of the company's
proprietary technology for inducing a polyclonal immune response
(covered by five patent families that potentially run until 2032),
Neovacs is focusing its clinical development efforts on
IFNα-Kinoid, an immunotherapy being developed for the indication
of lupus and dermatomyositis.  Neovacs is also conducting
preclinical development works on other therapeutic vaccines in the
fields of auto-immune diseases, oncology and allergies.  The goal
of the Kinoid approach is to enable patients to have access to safe
treatments with efficacy that is sustained in these life-long
diseases www.neovacs.fr.

                       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 March 31, 2016, Stellar had $9.42 million in total assets,
$616,097 in liabilities and $8.81 million in shareholders' equity.


STONE ENERGY: Moody's Cuts Corporate Family Rating to Ca
--------------------------------------------------------
Moody's Investors Service downgraded Stone Energy Corporation's
Corporate Family Rating (CFR) to Ca from Caa2, Probability of
Default Rating (PDR) to Ca-PD from Caa2-PD, and senior unsecured
rating to Ca from Caa3. The SGL-4 Speculative Grade Liquidity (SGL)
rating was affirmed. The rating outlook remains negative.

"The downgrade reflects Stone's announcement that it has skipped
the $29 million coupon payment on its senior notes due 2022 that
was due on May 16, 2016, raising the likelihood of a potential
payment acceleration, debt restructuring or default in the next 30
days," said Sajjad Alam, Moody's AVP-Analyst.

Issuer: Stone Energy Corporation

-- Downgraded:

-- Corporate Family Rating, Downgraded to Ca from Caa2

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

-- Senior Unsecured Regular Bond/Debenture, Downgraded to Ca
    (LGD4) from Caa3 (LGD4)

Affirmed:

-- Speculative Grade Liquidity Rating, Affirmed SGL-4

-- Outlook:

-- Maintain Negative Outlook

RATINGS RATIONALE

The Ca CFR reflects Stone's unsustainable debt load that will
likely be restructured in the near future leading to significant
principal losses to its noteholders. Following the skipped coupon
payment on May 16, 2016, the company has a 30-day grace period
until June 14 to make the interest payment before an Event of
Default occurs under the note indenture. Stone plans on using this
time to have discussions with certain of its lenders and consider
various strategic alternatives with its financial and legal
advisors.

Stone has weak liquidity, which is reflected in Moody's SGL-4
rating. On March 10, 2016, Stone drew $385 million on its $500
million committed revolving credit facility, bringing total
borrowings under the facility to $477 million (excluding $19
million of letters of credit). Subsequently banks cut Stone's
borrowing base to $300 million triggering a borrowing base
deficiency. As of April 13, 2016, Stone had $175.3 million of
borrowing base deficiency. The company has agreed to cure this
deficiency by making six equal monthly payments of $29.2 million,
and made the first installment payment on May 13. Proforma for this
repayment, the company's cash balance was about $321 million as of
May 4, 2016 and the borrowing base deficiency stood at $146
million. The company also has $300 million of senior convertible
notes maturing on March 1, 2017 which has to be refinanced in a
tough market.

The negative rating outlook reflects Stone's weak liquidity as well
as refinancing and debt restructuring risks. Stone's ratings could
be downgraded in the event of a payment acceleration, debt
restructuring or bankruptcy. For an upgrade, the company would need
to establish a tenable capital structure with significantly less
debt.

Based in Lafayette, Louisiana, Stone Energy is an independent oil
and gas company with principal producing assets in deepwater Gulf
of Mexico and the Marcellus Shale in the Appalachia.


STRATA SKIN: Incurs $1.43 Million Net Loss in First Quarter
-----------------------------------------------------------
Strata Skin Sciences, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.43 million on $7.62 million of revenues for the three months
ended March 31, 2016, compared to a net loss of $7.27 million on
$81,000 of revenues for the same period in 2015.

As of March 31, 2016, Strata Skin had $47.5 million in total
assets, $32.5 million in total liabilities and $15.03 million in
total stockholders' equity.

As of March 31, 2016, the Company had an accumulated deficit of
$209 million and has incurred losses and negative cash flows from
operations since inception.  To date, the Company has dedicated
most of its financial resources to research and development, sales
and marketing, and general and administrative expenses.

The Company has been dependent on raising capital from the sale of
securities in order to continue to operate and to meet its
obligations in the ordinary course of business.  Management
believes that its cash and cash equivalents as of March 31, 2016
combined with the anticipated revenues from the sale of the
Company's products will be sufficient to satisfy its working
capital needs, capital asset purchases, outstanding commitments and
other liquidity requirements associated with its existing
operations through the second quarter of 2017.

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

                    https://is.gd/PwI3DZ

                  About STRATA Skin Sciences

STRATA Skin Sciences (formerly MELA Sciences, Inc.) is a medical
technology company focused on the therapeutic and diagnostic
dermatology market.  Its products include the XTRAC laser and VTRAC
excimer lamp systems utilized in the treatment of psoriasis,
vitiligo and various other skin conditions; and the MelaFind system
used to assist in the identification and management of melanoma.

Strata Skin reported a net loss attributable to common stockholders
of $27.91 million on $18.49 million of revenues for the year ended
Dec. 31, 2015, compared to a net loss of $16.03 million on $915,000
of revenues for the year ended Dec. 31, 2014.


SUNVALLEY SOLAR: Delays Filing of March 31 Form 10-Q
----------------------------------------------------
SunValley Solar, Inc., was unable to compile the necessary
financial information required to prepare a complete filing of its
quarterly report on Form 10-Q for the period ended March 31, 2016.
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 net income of $195,811 on $5.78 million of
revenues for the year ended Dec. 31, 2015, compared with a net loss
of $1.28 million on $3.31 million of revenues for the year ended
Dec. 31, 2014.  As of Dec. 31, 2015, Sunvalley Solar had $6.46
million in total assets, $4.79 million in total liabilities and
$1.67 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, 2015, citing that the
Company has an accumulated deficit of $3,449,834, which raises
substantial doubt about its ability to continue as a going
concern.


TEMPUR SEALY: Moody's Assigns Senior Unsecured Notes Rating B1
--------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to $500 million
senior unsecured notes issued by Tempur Sealy International. Net
proceeds will principally be used to refinance existing debt and
pay related fees and expenses.

"The issuance is a credit positive as it improves Tempur's
liquidity profile by extending the maturity dates and reduce
interest costs," said Kevin Cassidy, senior credit officer at
Moody's Investors Service.

Rating assigned:

$500 million senior unsecured notes due 2026 at B1 (LGD 5)

RATINGS RATIONALE

Tempur Sealy's Ba3 Corporate Family Rating reflects its moderate
leverage, good cash flow generating abilities, sizeable market
share, and solid scale, with revenue of around $3 billion. The
ratings also incorporate the volatility in profitability and cash
flows experienced during economic downturns and by the uncertainty
in discretionary consumer spending, especially for middle and low
income consumers. The ratings benefit from Tempur's solid operating
margins with EBIT/revenue around 11% and good interest coverage
over 3 times. Tempur Sealy's strong market position, well-known
brand names, improving consumer confidence, and the mattress
industry's historically strong fundamentals, anchor the rating.

The stable outlook reflects Moody's view that Tempur will maintain
solid credit metrics.

Tempur's ratings could be upgraded if its operating performance
continues to improve and the company maintains its policy of
reducing debt with free cash flow. Key credit metrics necessary for
an upgrade would be debt/EBITDA sustained below 3 times, interest
coverage maintained above 4 times and mid teen EBIT margins.

Ratings could be downgraded if operating performance meaningfully
deteriorates or if leverage significantly increases for any reason.
Key credit metrics that could lead to a downgrade would be
debt/EBITDA sustained above 4.5 times, interest coverage maintained
below 2.5 times, or mid-single digit EBIT margins. Large debt
financed shareholder returns could also lead to a downgrade.

Subscribers can find further details in the Tempur Credit Opinion
published on Moodys.com.

Tempur Sealy International, Inc.'s ("Tempur" or "Tempur Sealy")
develops, manufactures, markets and sells bedding products, which
include mattresses, foundations and adjustable bases, and other
products such as pillows and other accessories. On March 18, 2013,
the company completed the acquisition of Sealy Corporation, which
manufactures and markets a broad range of mattresses and
foundations under the Sealy®, Sealy Posturepedic®, Stearns &
Foster® and other brands. Net revenue for the twelve months ended
March 31, 2016 approximated $3.1 billion.



THIS IS IT: Hires Madoff & Khoury as Bankruptcy Counsel
-------------------------------------------------------
This Is It, LLC seeks permission from the U.S. Bankruptcy Court for
the District of Massachusetts to employ Madoff & Khoury LLP as
counsel under general retainer.

Cape Cod Commercial Linen Service, Inc., (CCCLS) is a Massachusetts
corporation operating a commercial laundry facility in Hyannis,
Massachusetts, servicing a large portion of the resorts, hotels,
restaurants and inns on the Cape.  It has been a family run
business since 1985 and is currently owned by Jeffrey and Ann
Ehart.

Since 2012, CCCLS has operated out of a facility located at 880
Attucks Lane, Hyannis, which is owned by This Is It. (the "Attucks
Facility"). This Is It is also owned by the Ehart Family.  Both
CCCLS and This Is It are chapter 11 debtors.

The Debtors' financial difficulties stem from the 2012 expansion at
the Attucks facility. In addition to moving to new location, CCCLS
purchased a new-state-of-the art washing system at a cost of
approximately $2 million. Delays in getting the new system running
resulted in significant cost overruns.

Over the years, the Debtors entered into several loan transactions
with Cape Cod Five Cents Savings Bank.  On November 25, 2013, the
Bank sent written notifications to the Debtors that they were in
default under the Loans Agreements.

According to This Is It's schedules filed together with the
Petition, the Bank has a claim of $1,259,041; and the value of the
collateral that supports the claim is $2,200,000.

The Bank commenced an action against, among others, the Debtors
seeking the appointment of a state court receiver, which they did
not oppose.

The Debtors continued to operate the business under the supervision
and with the assistance of a receiver. The Debtors significantly
improved their financial position. In order to complete the Debtors
turnaround through a Chapter 11 proceeding, the Bank, the Debtors
and the Receiver agreed to dismiss the Receivership Action.

The Debtor and CCCLS seek authority to have these Chapter 11 case
jointly administered.

This Is It has engaged Madoff & Khoury as its counsel in connection
with this case because of the substantial experience of the firm's
partners in representing the Debtors in Chapter 11 proceedings, and
because the reasonable rates charged by the firm are commensurate
with the size of the case.

CCCLS also has employed the Madoff firm.

David B. Madoff of Madoff & Khoury 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.

Madoff & Khoury can be reached at:

         David B. Madoff, Esq.
         Madoff & Khoury LLP
         124 Washington Street
         Foxboro, MA 02035
         Tel: 508-543-0040
         Fax: 508-543-0020
         E-mail: madoff@mandkllp.com

This Is It, LLC, based in Hyannis, Mass., filed a Chapter 11
petition (Bankr. D. Mass. Case No. 16-11813) on May 13, 2016.  Hon.
Joan N. Feeney presides over the case.  This Is It tapped David B.
Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff &
Khoury LLP, as bankruptcy counsel.  In its petition, This Is It
listed $2.20 million in assets and $3.05 million in liabilities.
The petition was signed by Jeffrey Ehart, president/manager.

Cape Cod Commercial Linen Service, Inc., based in Hyannis,
Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case
No. 16-11811) on May 13, 2016.  Hon. Joan N. Feeney presides over
the case.  David B. Madoff, Esq., and Steffani Pelton Nicholson,
Esq., at Madoff & Khoury LLP, serves as counsel to Cape Code
Commercial.   The Debtor's financial advisor is Bruce A. Erickson
of B. Erickson Group, LLC.  In its petition, the Debtor listed
total assets of $1.24 million and liabilities of $4.62 million.
The petition was signed by Jeffrey Ehart, president.

This Is It and CCCLS have asked the Court to have their Chapter 11
cases jointly administered.


TONGJI HEALTHCARE: Delays Filing of March 31 Form 10-Q
------------------------------------------------------
Tongji Healthcare Group, Inc., filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its quarterly report on Form 10-Q for the quarter
ended March 31, 2016.  The Company said it has encountered a delay
in assembling the information, in particular its financial
statements for the quarter ended  March 31, 2016, required to be
included in its March 31, 2016 Form 10-Q Quarterly Report.  The
Company expects to file its Form 10-Q with the SEC within five
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 reported a net loss of $589,000 on $2.37 million of total
operating revenue for the year ended Dec. 31, 2015, compared to a
net loss of $462,000 on $2.52 million of total operating revenue
for the year ended Dec. 31, 2014.  As of Dec. 31, 2015, Tongji
Healthcare had $16.9 million in total assets, $19.8 million in
total liabilities and a total stockholders' deficit of $2.87
million.

Anton & Chia, LLP, in Newport Beach, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015.


UNIVERSAL HEALTH: Moody's Gives Ba1 Rating to 2022 & 2026 Notes
---------------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to Universal Health
Services, Inc.'s (UHS) proposed offering of senior secured notes
due 2022 and 2026. Moody's also affirmed the Ba1 rating on UHS'
existing senior secured notes. UHS' Ba1 Corporate Family Rating,
Ba1-PD Probability of Default Rating and SGL-1 Speculative Grade
Liquidity Rating were also affirmed. The rating outlook is stable.

The affirmation of the Corporate Family Rating reflects Moody's
expectation that the proposed transactions will not materially
impact UHS' modest leverage and strong interest coverage. Moody's
understands that the proceeds of the note offerings, which will
aggregate $800 million, will be used to refinance existing debt,
including $400 million of notes maturing in June 2016.

The stable rating outlook reflects Moody's expectation that the
company will continue to operate with modest financial leverage and
very good liquidity. It also reflects Moody's view that recent
growth in the acute care business is not sustainable. Furthermore,
the rating reflects the likelihood that the company will pursue
debt-financed, leveraging acquisitions in order to grow its
business.

The affirmation of UHS' Speculative Grade Liquidity Rating reflects
Moody's expectation that the company will maintain very good
liquidity. Free cash flow will benefit from the reduction in
dividends to minority shareholders resulting from the recent
acquisition of the minority interest in UHS' Las Vegas market by
eliminating cash distributions to the minority interest holders.
Further, while the company will see a considerable amount of
amortization from its term loan A, the nearest meaningful maturity
is in 2019.

Following is a summary of Moody's rating actions for Universal
Health Services, Inc.

Ratings assigned:

Senior secured notes due 2026 at Ba1 (LGD 3)

Add-on to senior secured notes due 2022 at Ba1 (LGD3)

Ratings affirmed:

Corporate Family Rating at Ba1

Probability of Default Rating at Ba1- PD

Senior secured notes due 2016, 2019 and 2022 at Ba1 (LGD3)

Speculative Grade Liquidity Rating at SGL-1

The rating outlook is stable.

RATING RATIONALE

UHS' Ba1 Corporate Family Rating reflects the company's moderate
financial leverage and Moody's expectation of continued revenue and
EBITDA growth over the next 12 to 18 months. The rating also
reflects UHS' good diversification and considerable scale in both
its acute care hospital and behavioral health segments. This
diversification lowers the risk of a regulatory change that could
affect the company as a whole. However, these factors are greatly
tempered against Moody's expectation that the company will continue
to be acquisitive and invest in growth initiatives. This could well
result in increased financial leverage above levels Moody's feels
are appropriate for an investment grade rating.

In order to be upgraded to an investment grade rating, UHS will
have to maintain a conservative financial policy and disciplined
approach to capital deployment. Moody's would also expect to see a
public commitment by the company to an investment grade rating.
Further, debt/EBITDA will have to be sustained below 2.5 times.

The ratings could be downgraded if credit metrics materially weaken
as a result of a decline in operating performance or the company
engages in a significant debt financed acquisition or shareholder
initiative. More specifically, the ratings could be downgraded if
Moody's expects debt/EBITDA to be sustained above 3.0 times.

Universal Health Services, Inc., based in King of Prussia,
Pennsylvania, owns and operated 24 acute care hospitals and 214
inpatient and 16 outpatient behavioral health centers as of March
31, 2016. Facilities are located in 37 states, Washington, D.C.,
the United Kingdom, Puerto Rico and the U.S. Virgin Islands. The
company recognized revenues of approximately $9.3 billion for the
twelve months ended March 31, 2016.


USA DISCOUNTERS: Court OK's Additional $245K Retention Payment
--------------------------------------------------------------
Judge Christopher Sontchi of the Bankruptcy Court for the District
of Delaware authorized USA Discounters, Ltd., et al., to make
retention payments in excess of the Retention Cap to its
non-insider Retained Employees who actually remain employed by the
Debtors for the duration of the applicable Extended Term.

The Debtors previously sought authority from the U.S. Bankruptcy
Court to pay an additional $245,000 in retention payments to
certain employees.  The Official Committee of Unsecured Creditors
has asked that the requested extension of the employment agreements
and the proposed retention payments be limited to three months in
order to minimize the administrative cost to these estates.  The
Committee said it is concerned about the mounting administrative
costs and indefinite continuation of these cases without an exit
strategy, for given the uncertainty of bankruptcy, the best way to
address this concern is to move forward in these Chapter 11 cases
with a plan.

The Debtors argued that the employment terms of these employees
should be limited only for three months, pointing out that the
difference in cost to the estates to retain these 23 employees for
six months as requested in the Employee Motion, rather than for
three months as suggested by the Committee, amounts to only
approximately $70,000 in the aggregate, and such a minimal
short-term cost savings is likely to be outweighed by the much
larger costs the estates would be forced to endure as a result of
increased attrition among the Retained Corporate Staff and the
Retained Collections Supervisors in the event their Extended Terms
are not implemented.

Counsel to the Debtors and Debtors in Possession:

       Laura Davis Jones, Esq.
       James E. O'Neill, Esq.
       Colin R. Robinson, Esq.
       PACHULSKI STANG ZIEHL & JONES LLP
       919 North Market Street, 17th Floor
       P.O. Box 8705
       Wilmington, DE 19899-8705 (Courier 19801)
       Telephone: (302) 652-4100
       Facsimile: (302) 652-4400
       Email: ljones@pszjlaw.com
              joneill@pszjlaw.com
              crobinson@pszjlaw.com

       -- and --

       Lee R. Bogdanoff, Esq.
       Michael L. Tuchin, Esq.
       Whitman L. Holt, Esq.
       Sasha M. Gurvitz, Esq.
       KLEE, TUCHIN, BOGDANOFF & STERN LLP
       1999 Avenue of the Stars, 39th Floor
       Los Angeles, CA 90067
       Telephone: (310) 407-4023
       Facsimile: (310) 407-9090
       Email: lbogdanoff@ktbslaw.com
              mtuchin@ktbslaw.com
              wholt@ktbslaw.com
              sgurvitz@ktbslaw.com

           About USA Discounters

USA Discounters, Ltd., was founded in May 1991. In the City of
Norfolk, Virginia, under the name USA Furniture Discounters, Ltd.
It sold goods through two groups of stores -- one group of
specialty retail stores operating under the "USA Living" brand,
typically in standalone locations, and seven additional retail
stores operating under the "Fletcher's Jewelers" brand, typically
in major shopping malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


VANGUARD HEALTHCARE: Proposes Aug. 5 as Claims Bar Date
-------------------------------------------------------
Vanguard Healthcare, LLC, et al., seek permission from the U.S.
Bankruptcy Court for the Middle District of Tennessee to set August
5, 2016 as the deadline for the filing of all prepetition claims,
including claims of governmental entities and administrative
claims.

The August 5, 2016 deadline will provide creditors approximately 90
days following the commencement of the Chapter 11 case to file
claims.

Vanguard Healthcare, LLC, and its affiliates are represented by:

     William L. Norton, III, Esq.
     BRADLEY
     1600 Division Street, Suite 700
     Nashville, TN 37203
     Tel: (615) 252-2397
     E-mail: bnorton@bradley.com

                      About Vanguard Healthcare

Vanguard is a long-term care provider headquartered in Brentwood,
Tennessee, providing rehabilitation and skilled nursing services at
14 facilities in four states (Florida, Mississippi, Tennessee and
West Virginia).

Vanguard Healthcare, LLC and 17 of its subsidiaries each filed a
Chapter 11 bankruptcy petition (Bankr. M.D Tenn. Proposed Lead Case
No. 16-03296) on May 6, 2016. The petitions were signed by William
D. Orand as chief executive officer. The Debtors estimated asets in
the range of $100 million to $500 million and liabilities of up to
$100 million.

The Debtors have hired Bradley Arant Boult Cummings LLP as counsel
and BMC Group as noticing agent.

Judge Randal S. Mashburn has been assigned the cases.


VERITY CORP: Robert Stevens Appointed as Receiver
-------------------------------------------------
In Case Number A-16-733815-B, Nevada's 8th Judicial District,
Business Court, appointed Robert Stevens as Receiver for Verity
Corp. on May 3, 2016.  Creditors are required to provide claims in
writing under oath on or before Nov. 3, 2016, or they will be
barred under NRS Section 78.675, according to a regulatory filing
with the Securities and Exchange Commission.

                      About Verity

Sioux Falls, South Dakota-based Verity Corp., formerly AquaLiv
Technologies, Inc., is the parent of Verity Farms II, Inc.,
Aistiva Corporation (formerly AquaLiv, Inc.).  Verity Farms II is
dedicated to providing consumers with safe, high-quality and
nutritious food sources through sustainable crop and livestock
production.  Aistiva's technology alters the behavior of
organisms, including plants and humans, without chemical
interaction.  Aistiva's platform technology influences biological
processes naturally and without chemical interaction.  To date,
Aistiva has released products in the industries of water
treatment, skincare, and agriculture.

Verity Corp. reported a net loss attributable to the Company of
$7.59 million for the year ended Sept. 30, 2013, as compared with
a net loss attributable to the Company of $623,000 during the
prior fiscal year.

As of June 30, 2014, the Company had $2.24 million in total
assets, $5.83 million in total liabilities and a $3.59 million
total stockholders' deficit.

Bongiovanni & Associates, CPA's, in Cornelius, North Carolina,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Sept. 30, 2013.  The
independent auditors noted that the Company has suffered recurring
losses, has negative working capital, and has yet to generate an
internal net cash flow that raises substantial doubt about its
ability to continue as a going concern.


VESTIS RETAIL: Seeks to Sell Miscellaneous Assets
-------------------------------------------------
Vestis Retail Group, LLC, and its affiliated debtors on May 16,
2016, filed a motion asking the U.S. Bankruptcy Court for the
District of Delaware for the entry of an order establishing
procedures for the sale of certain miscellaneous assets.

A hearing on the Bid Procedures is scheduled for June 6, 2016, at
10:00 a.m. (ET).

The Debtors explained that in the ordinary course of their business
operations, they have accumulated and are currently in possession
of certain assets, including, but not limited to, equipment,
furniture, supplies, fixtures, and other miscellaneous personal
property (collectively, the "Miscellaneous Assets"), that, in light
of, among other things, the Store Closing Sales, will not be
necessary for the operation of the Debtors' businesses.  

In the exercise of their sound business judgment, the Debtors have
determined that the prompt sale of the Miscellaneous Assets,
without the need for further notice, motions, hearings and
subsequent Court approval, subject to the Bid Procedures, is in the
best interest of the Debtors' stakeholders.

The Miscellaneous Assets have a relatively modest value in relation
to the Debtors' overall business operations.  

The Debtors propose these procedures:

   (a) If the sale consideration from a purchaser of the
Miscellaneous Assets does not exceed $200,000, on a per-transaction
basis, and if the sale is not to an insider, the Debtors may sell
the assets upon providing written notice, via electronic mail or
facsimile, to (i) the Office of the United States Trustee for the
District of Delaware, (ii) proposed counsel to the Committee, (iii)
counsel to the DIP Agent, (iv) counsel to the Pre-Petition Term
Agent, (v) counsel to the Third Lien Agent, and (vi) all known
parties holding or asserting liens, claims, encumbrances or other
interests in the assets being sold and their respective counsel, if
known (collectively, the "Notice Parties"), which will have three
business days from the receipt of such notice to inform the Debtors
in writing that they object to the proposed sale; provided,
however, that to the extent the aggregate sale consideration for
any series of related transactions to a single buyer or group of
related buyers, which, on a per-transaction basis, do not exceed
$200,000, exceeds $1,000,000, the procedures in subparagraph (b)
below shall apply.

   (b) If the sale consideration from a purchaser for the
Miscellaneous Assets, on a per-transaction basis, exceeds $200,000
but is less than $2,000,000, or if the sale is to an insider (as
defined in Section 101(31) of the Bankruptcy Code) in an amount
less than $2,000,000, the Debtors will file with the Court a notice
of such Proposed Miscellaneous Asset Sale (a "Miscellaneous
Asset Sale Notice") and serve such Miscellaneous Asset Sale Notice
by regular mail on the Notice Parties and those parties, as of the
date of such notice, who have filed in these Cases a notice of
appearance and request for service of papers pursuant to Rule 2002
of the Federal Rules of Bankruptcy Procedure (the "Rule 2002
Parties").

   (c) The Miscellaneous Asset Sale Notice, to the extent that the
Debtors have such information, will include: (i) a description of
the Miscellaneous Assets that are the subject of the Proposed
Miscellaneous Asset Sale; (ii) the location of the Miscellaneous
Assets; (iii) the economic terms of sale; (iv) the identity of any
non-Debtor party to the Proposed Miscellaneous Asset Sale and
specify whether that party is an "affiliate" or "insider" as those
terms are defined under section 101 of the Bankruptcy Code; and (v)
the identity of the party, if any, holding liens, claims,
encumbrances or other interests in the Miscellaneous Assets.

   (d) The Notice Parties and the 2002 Parties will have seven
business days (unless extended by agreement from the Debtors) after
the Miscellaneous Asset Sale Notice is filed and served to advise
counsel to the Debtors in writing with specific and particular
bases that they object to the Proposed Miscellaneous Asset Sale
described in such Miscellaneous Asset Sale Notice (as used in these
Miscellaneous Asset Sale Procedures, the "Objection Deadline").  If
no written objection is received by the Objection Deadline, the
Debtors may consummate the Proposed Miscellaneous Asset Sale,
without further notice to any other party and without the need for
a hearing, upon entry of an order of the Court submitted under
certification of counsel in accordance with these procedures, and
upon entry of such order, such Proposed Miscellaneous Asset Sale
will be deemed fully authorized by the Court.

   (e) If a written objection to a Proposed Miscellaneous Asset
Sale is timely received by the Objection Deadline, the Debtors will
not proceed with the Proposed Miscellaneous Asset Sale unless (i)
the objection is withdrawn or otherwise resolved; or (ii) the
Court approves the Proposed Miscellaneous Asset Sale at the next
regularly scheduled omnibus hearing in the cases that is at least
three business days after receipt by the Debtors of the objection,
or at the next omnibus hearing in these Cases that is agreed to by
the objecting party and the Debtors.

  (f) All buyers will acquire the Miscellaneous Assets sold by the
Debtors pursuant to these Miscellaneous Asset Sale Procedures on an
"AS IS-WHERE IS" basis without any representations or warranties
from the Debtors as to the quality or fitness of such assets for
either their intended or any other purposes; provided, however,
that buyers will take title to the Miscellaneous Assets free and
clear of all liens, claims, encumbrances and other interests
pursuant to Section 363(f) of the Bankruptcy Code, with all such
liens, claims, encumbrances and other interests, if any, to attach
to the proceeds of the sale of the Miscellaneous Assets, with the
same validity, force, and effect which they had against such
Miscellaneous Assets prior to the sale.

   (g) Good faith purchasers of the Miscellaneous Assets shall be
entitled to the protections of Section 363(m) of the Bankruptcy
Code.

   (h) The absence of a timely objection to the sale of the
Miscellaneous Assets in accordance with the Miscellaneous Asset
Sale Procedures shall be "consent" to such sale within the meaning
of section 363(f)(2) of the Bankruptcy Code.

Vestis Retail Group and its debtor-affiliates are represented by:

         Robert S. Brady, Esq.
         Robert F. Poppiti, Jr., Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, Delaware 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253
         E-mail: rbrady@ycst.com
                 rpoppiti@ycst.com

             - and -

         Michael L. Tuchin, Esq.
         Lee R. Bogdanoff, Esq.
         David M. Guess, Esq.
         Martin N. Kostov, Esq.
         KLEE, TUCHIN, BOGDANOFF & STERN LLP
         1999 Avenue of the Stars, 39th Floor
         Los Angeles, California 90067
         Tel: (310) 407-4031
         Fax: (310) 407-9090
         E-mail: mtuchin@ktbslaw.com
                 lbogdanoff@ktbslaw.com
                 dguess@ktbslaw.com
                 mkostov@ktbslaw.com

                       About Vestis Retail

Vestis Retail Group and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 16-10971) on
April 18, 2016.  The Debtors estimated assets in the range of
$0 to $50,000 and debts of $100 million to $500 million.  The
petitions were signed by Thomas A. Kennedy as secretary.

Headquartered in Meriden, Connecticut, Vestis Retail Group, LLC, et
al., operate 144 retail stores, which are located in 15 states.
Bob's Stores operates 36 stores throughout New England, New York,
and New Jersey.  Eastern Mountain Sports operates 61 stores,
located primarily in the Northeastern states.  Sport Chalet
operates 47 stores throughout California, Arizona, and Nevada.
Bob's Stores and EMS primarily operate stores located in the
Northeastern states, while Sport Chalet's stores, which are
currently being liquidated, are located in the Western states.

Prior to the Petition Date, each of the three Debtor retailers
operated an e-commerce site at, respectively, www.bobstores.com,
www.sportchalet.com, and www.ems.com.  In 2015, the Debtors
collectively generated 5% of their total sales, or approximately
$32 million, through e-commerce, according to Court documents.

Judge Laurie Selber Silverstein is assigned to the cases.

The Debtors have hired Young, Conaway, Stargatt & Taylor, LLP as
their counsel, FTI Consulting, Inc. and Lincoln Partners Advisors
LLC as their financial advisor and Kurtzman Carson Consultants, LLC
as their claims and noticing agent.

An official committee of unsecured creditors has been appointed in
the cases.  The Committee has tapped Cooley LLP as its lead counsel
and Polsinelli as conflicts counsel.  Zolfo Cooper, LLC serves as
its bankruptcy consultant and financial advisor.


VISCOUNT SYSTEMS: Needs More Time to File March 31 Form 10-Q
------------------------------------------------------------
Viscount Systems, Inc., was unable to file its quarterly report on
Form 10-Q for the fiscal quarter ended March 31, 2016, on a timely
basis due to the Company gathering information and completing its
review, which required additional time to work internally with its
staff and externally to prepare and finalize the Quarterly Report.
The Company expects to file its Form 10-Q within the additional
time allowed by this report.

Prior to Jan. 1, 2016, the Company organized its business into two
reportable segments: manufacturing and servicing.  The
manufacturing segment designs, produces and sells intercom and door
access control systems that utilize telecommunications to control
access to buildings and other facilities for security purposes.
The servicing segment provides maintenance to these intercom and
door access control systems.  During the three months ended March
31, 2016, management and the Board of Directors committed to a plan
to sell its service business.  The Company will discontinue its
servicing business and operate in one segment, the manufacturing
business.  The Company has not determined what effect the
discontinuance of the servicing business will have on its results
of operations.

                     About Viscount Systems

Burnaby, Canada-based Viscount Systems, Inc., is a manufacturer,
developer and service provider of access control security
products.

Viscount reported a net loss attributable to common stockholders of
C$6.33 million on C$6.13 million of sales for the year ended Dec.
31, 2015, compared to a net loss of attributable to common
stockholders of C$990,681 on C$4.76 million of sales for the year
ended Dec. 31, 2014.

As of Dec. 31, 2015, Viscount had C$1.66 million in total assets,
C$10.23 million in total liabilities and a total stockholders'
deficit of $8.57 million.

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, 2015, 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, the auditors
noted.


WESTERN REFINING: Moody's Assigns B1 to 1st Lien Secured Term Loan
------------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Western Refining,
Inc.'s (WNR) proposed $500 million first lien secured term loan
B-2, and affirmed its B1 Corporate Family Rating (CFR), B1 term
loan rating, and B3 unsecured notes rating. The Speculative Grade
Liquidity rating was lowered to SGL-2 from SGL-1. The outlook on
WNR's ratings is stable. Proceeds from the term loan will be used
to partially fund WNR's pending acquisition of the outstanding
61.7% limited partner units in Northern Tier Energy LP (NTI), the
parent company of Northern Tier Energy LLC (NTE), that it does not
already own.

Moody's also changed Northern Tier Energy, LLC's (NTE) ratings
outlook to stable from negative, and affirmed its B1 CFR, B1
secured notes rating, and SGL-3 Speculative Grade Liquidity
Rating.

"WNR's acquisition of Northern Tier Energy will improve both its
scale and business profile with diversified cash flows from
multiple operating regions," commented James Wilkins, Moody's Vice
President -- Senior Analyst. "However, debt levels will also
increase at a time of weaker industry conditions as a result of the
acquisition and without improving the capital structure, there
still remains a relatively high level of corporate complexity at
WNR."

The following summarizes the ratings:

Issuer: Western Refining, Inc.

Ratings Assigned:

$500 million Secured Term Loan B-2 due 2023, Assigned B1 (LGD3)

Ratings Affirmed:

Corporate Family Rating, Affirmed B1

Probability of Default Rating, Affirmed B1-PD

Senior Secured Term Loan B due 2020, Affirmed B1 (LGD3)

Senior Unsecured Notes due 2021, Affirmed B3 (LGD5)

Ratings lowered:

Speculative Grade Liquidity Rating, lowered to SGL-2 from SGL-1

Outlook, Stable

Issuer: Northern Tier Energy, LLC

Corporate Family Rating, Affirmed B1

Probability of Default Rating, Affirmed B1-PD

Senior Secured Notes due 2020, Affirmed B1 (LGD 4 from LGD3)

Speculative Grade Liquidity Rating, Affirmed SGL-3

Outlook Action:

Outlook, Changed to Stable from Negative

RATINGS RATIONALE

Moody's said, "WNR's B1 CFR reflects the company's modest scale,
limited refining asset diversification and exposure to volatile
refined product margins. The company refining, logistics and retail
operations offer some geographic diversity to its cash flows. It
has enjoyed strong profitability and free cash flow generated from
WNR's favorable location in the Mid-Continent (NTI's operations)
and Southwest with access to low priced crude oil feedstock. The
NTI transaction will boost WNR's scale and exposure to the northern
Mid-west product markets and retail convenience store operations,
thereby further diversifying WNR's cash flows. The estimated $1.3
billion acquisition price ($15 cash plus 0.2986 WNR shares per NTI
unit) will be funded by the new $500 million secured term loan B-2,
WNR equity issued to NTI unit holders and existing WNR cash,
modestly increasing WNR's leverage at a time when refinery margins
have contracted from 2015 levels. While we expect leverage to
increase in 2016 due to the acquisition debt financing and lower
EBITDA generation, leverage is expected to remain below 4x in 2016.
The NTI deal is an important step in helping to simplify WNR's
capital structure and financing of its operations; however, there
continues to remain a higher degree of structural complexity at WNR
relative to higher rated peers, with the company maintaining the
existing debt at NTI, including the revolving credit facility."

The B1 rating on the proposed $500 million secured term loan B-2
reflects its senior position to the unsecured notes in the capital
structure. The term loan will rank pari-passu to the existing term
loan, sharing the same collateral pool, secured by the El Paso and
Gallup refineries, and guaranteed by substantially all material
restricted subsidiaries of the company. WNR will pledge 100% of the
NTI equity as additional collateral. WNR's notes are rated B3, two
notches below the B1 CFR, reflecting their subordinate position to
the secured claims of the revolver and term loans. The sizable
amount of secured debt results in no notching between the secured
term loan rating and the CFR, and a two-notch lower rating for the
senior unsecured notes under Moody's Loss Given Default
Methodology.

Moody's said: "WNR's SGL-2 reflects Moody's expectation that the
company will maintain good liquidity through mid-2017 supported by
elevated cash balances, unused availability under its revolving
credit facility and cash flow from operations. Moody's expects WNR
to have a cash balance greater than $200 million following the
closing of the NTI acquisition and for its asset-backed revolving
credit facility due October 2019 to be undrawn ($265 million
borrowing base as of 31 March 2016 and $201 million of availability
after accounting for letters of credit totaling $64 million). As of
31 March 2016, subsidiaries NTI and WNRL also had revolving credit
facilities with availability of $134.7 million and $169.3 million
(before the May 2016 equity issuance), respectively. The WNR
revolver, which matures in October 2019, is subject to certain
incurrence covenants, such as a maximum consolidated leverage ratio
of 2.5x and a minimum consolidated fixed charge ratio of 1.0x,
which only applies when excess availability under the facility is
less than the greater of $50 million or 12.5% of the borrowing
base. We expect the company to remain in compliance with these
covenants into 2017, although compliance headroom may tighten
because of weaker refining margins."

WNR's stable outlook reflects its good liquidity position and
Moody's expectation that it will be able to endure periods of weak
industry margins. An upgrade is possible if WNR simplifies its
capital structure (with respect to NTI), as well as maintains
conservative policies, adequate liquidity and strong down-cycle
metrics following the NTI acquisition. WNR's ratings could be
downgraded if its financial performance weakens as a result of a
severe and prolonged deterioration in sector conditions, balance
sheet debt increases materially, or if the company does not
maintain an adequate liquidity to counter the risk of prolonged
unplanned downtime at its refineries.

Moody's said: "NTE's B1 CFR reflects the company's single refinery
asset risk and relatively small scale, particularly compared to its
largest regional competitor (Flint Hills), and the inherent
volatility and capital intensity of the refining sector. The rating
is supported by the refinery's proven operational track record and
favorable geographic location. NTE also is strategically important
to WNR's consolidated operations. NTE's refinery has access to
discounted Bakken and Canadian crude oils and is well positioned
within a product-short region, delivering strong margins since
2011. However, margins have modestly declined from recent peaks
(gross margin was 23.2% for the first quarter 2016 versus 28.4% for
the first quarter 2015, including Moody's standard analytical
adjustments). We expect this trend to continue due to heightened
volatility in commodity prices as increased take away capacity
comes on stream. The CFR also benefits modestly from NTE's
integrated owned/operated retail network through which NTE sells a
majority of its gasoline and diesel production. Following the
acquisition by WNR, we expect NTE will have more flexibility with
respect to its dividend policy."

NTE's SGL-3 reflects an adequate liquidity profile. Moody's expects
that NTE's internally generated cash flow will cover maintenance
spending and support modest dividends to WNR. As of 31 March 2016,
the company had approximately $35 million of cash on its balance
sheet, as well as $134.7 million of availability under its ABL
revolving credit facility, net of $29.4 million outstanding letters
of credit and $22.5 million of borrowings. Dropping logistics
assets into the Western Refining Logistics, LP (WNRL) MLP could
also be a source of funding for the company, following the WNR
purchase of NTI. The credit facility has commitments of $500
million, but a borrowing base of $186.6 million supported by
eligible accounts receivable and inventory. There are no financial
maintenance covenants associated with NTI's ABL facility, but a
fixed charge coverage ratio of 1.0x does apply under certain
circumstances. The facility matures in September 2019.

NTE's ratings outlook is stable. The single asset risk limits
ratings upside since any unforeseen prolonged downtime could have a
significant impact on cash flow to service debt and capital needs.
In addition, WNR's CFR would have to be upgraded in order for a
rating upgrade of NTE to be considered. The ratings could be
downgraded if liquidity deteriorated significantly such that NTE
could not endure a prolonged period of unplanned downtime or margin
softness.

Western Refining, Inc., headquartered in El Paso, Texas, is an
independent refining and marketing company that operates two
refineries.

Northern Tier Energy LLC (NTE) is the operating company of Northern
Tier Energy LP (NTI), a publicly traded, variable distribution,
master limited partnership (MLP), which is partially owned and
controlled by Western Refining, Inc. WNR holds 38.3% of NTI's
limited partner units, with the remainder held by public unit
holders. NTE owns and operates the St. Paul Park (SPP) refinery and
also operates 165 retail convenience stores under the SuperAmerica
brand.


WILLMAN CONSTRUCTION: CFBFI Board of Trustees Appointed to UCC
--------------------------------------------------------------
The U.S. trustee for Region 12 on May 19 appointed one more
creditor to serve on Willman Construction, Inc.'s official
committee of unsecured creditors:

         Board of Trustees of Carpenters Fringe
         Benefit Fund of Illinois
         c/o Timothy M Feeney
         329 18th Street
         Rock Island, IL 61201
         Phone: (309) 788-2800
         Fax: (309) 793-4090

The bankruptcy watchdog had earlier appointed Art-O-Lite Electric,
Johnson Contracting Co.,  W.F. Scott Decorating Inc., and Chicago
Regional Council of Carpenters Local 4, court filings show.

                   About Willman Construction

Willman Construction, Inc. sought protection under Chapter 11 of
the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Iowa (Davenport) (Case No. 16-00774) on April 15, 2016.
The petition was signed by Mark. Willman, authorized
representative.

The Debtor is represented by Dale G. Haake, Esq., at Katz Nowinski
P.C. The case is assigned to Judge Lee M. Jackwig.

The Debtor disclosed total assets of $521,700 and total debts of
$1.2 million.


ZYNEX INC: Needs More Time to File March 31 Form 10-Q
-----------------------------------------------------
Zynex, Inc., filed with the U.S. Securities and Exchange Commission
a Notification of Late Filing on Form 12b-25 with respect to its
quarterly report on Form 10-Q, saying it needs additional time to
prepare its report for the three months ended March 31, 2016.  The
primary reason is inability to complete all of the work necessary
in light of certain cash constraints during May 2016.

                          About Zynex

Zynex, Inc. (OTCQB: ZYXI) specializes in the production and sale of
non-invasive medical devices for pain management, stroke
rehabilitation, neurodiagnostic equipment, cardiac and blood volume
monitoring.  The company maintains its headquarters in Lone Tree,
Colorado.

Zynex reported a net loss of $2.93 million on $11.64 million of net
revenue for the year ended Dec. 31, 2015, compared to a net loss of
$6.23 million on $11.11 million of net revenue for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Zynex had $3.69 million in total assets, $7.76
million in total liabilities and a total stockholders' deficit of
$4.07 million.

GHP Horwath, P.C., in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the
year
ended Dec. 31, 2015, citing that the Company incurred significant
losses in 2015 and 2014, and has limited liquidity.  In addition,
the Company is in default of its secured line of credit and as a
result, if its lender insists upon immediate repayment, the Company
will be insolvent and may be forced to seek protection from its
creditors.  These factors raise substantial doubt about its ability
to continue as a going concern.


[*] Kevin Ryan Joins Sheppard Mullin's Bankruptcy Practice
----------------------------------------------------------
Kevin M. Ryan has joined Sheppard, Mullin, Richter & Hampton LLP's
Chicago office as a partner in the firm's Finance & Bankruptcy
practice.  Mr. Ryan joins from Winston & Strawn LLP to further
expand Sheppard Mullin's growing alternate and bank finance
practice.

"Kevin is a talented and established finance attorney.  His
alternative finance and bank-side lending experience not only
expands our capabilities in Chicago, but also deepens our bench in
a core practice area that is crucial to our clients' businesses,"
said Robert S. Beall, managing partner of Sheppard Mullin.

"We're thrilled to welcome Kevin to the firm. His expertise, work
ethic and collaborative mindset make him an excellent addition to
our growing Chicago office.  He's a well-rounded finance partner,
and we look forward to working with him and his clients," commented
Lawrence C. Eppley, Sheppard Mullin's Chicago managing partner.

Mr. Ryan concentrates his practice in corporate finance, capital
markets and structured finance.  He represents banks, financial
institutions, institutional investors, private equity firms and
corporate clients on a broad range of debt financing transactions
in the large cap, middle market, senior, subordinated, second lien
and mezzanine areas.  His extensive lending experience includes
asset based, cash flow and unitranche lending transactions.

"I was particularly impressed with Sheppard Mullin's top-notch
finance practice as well as the collaborative culture that the firm
is passionate about maintaining.  Sheppard Mullin is a leading full
service firm with extremely talented attorneys, which makes for an
excellent platform to grow my practice," said
Mr. Ryan.

Ryan received a J.D., magna cum laude, from Loyola University
Chicago School of Law in 1998 where he was articles editor of the
Loyola University Chicago Law Journal.  He earned a B.A.,
cum laude, from Boston College in 1995.

Sheppard Mullin has 22 attorneys based in its Chicago office.  The
firm's Finance & Bankruptcy practice includes more than 80
attorneys firm wide.

          About Sheppard, Mullin, Richter & Hampton LLP

Sheppard Mullin -- http://www.sheppardmullin.com-- is a full
service Global 100 firm with 760 attorneys in 15 offices located in
the United States, Europe and Asia.  Since 1927, companies have
turned to Sheppard Mullin to handle corporate and technology
matters, high stakes litigation and complex financial transactions.
In the U.S., the firm's clients include more than half of the
Fortune 100.


[^] BOND PRICING: For the Week from May 16 to 20, 2016
------------------------------------------------------
  Company                   Ticker  Coupon Bid Price   Maturity
  -------                   ------  ------ ---------   --------
A. M. Castle & Co           CAS     12.750    91.999 12/15/2016
A. M. Castle & Co           CAS      7.000    46.250 12/15/2017
ACE Cash Express Inc        AACE    11.000    48.500   2/1/2019
ACE Cash Express Inc        AACE    11.000    48.500   2/1/2019
Affinion Group Inc          AFFINI   7.875    50.000 12/15/2018
Affinion Investments LLC    AFFINI  13.500    43.125  8/15/2018
Alpha Appalachia
  Holdings Inc              ANR      3.250     0.998   8/1/2015
Alpha Natural
  Resources Inc             ANR      6.000     1.018   6/1/2019
Alpha Natural
  Resources Inc             ANR      9.750     0.550  4/15/2018
Alpha Natural
  Resources Inc             ANR      6.250     0.910   6/1/2021
Alpha Natural
  Resources Inc             ANR      4.875     0.875 12/15/2020
Alpha Natural
  Resources Inc             ANR      3.750     0.875 12/15/2017
Alpha Natural
  Resources Inc             ANR      7.500     0.475   8/1/2020
Alpha Natural
  Resources Inc             ANR      7.500     0.475   8/1/2020
Alpha Natural
  Resources Inc             ANR      7.500     0.475   8/1/2020
American Eagle
  Energy Corp               AMZG    11.000    16.375   9/1/2019
American Eagle Energy Corp  AMZG    11.000    16.375   9/1/2019
American Gilsonite Co       AMEGIL  11.500    56.500   9/1/2017
American Gilsonite Co       AMEGIL  11.500    56.375   9/1/2017
Ameriprise Financial Inc    AMP      7.518    97.510   6/1/2066
Arch Coal Inc               ACI      7.250     0.875  6/15/2021
Arch Coal Inc               ACI      7.250     0.956  10/1/2020
Arch Coal Inc               ACI      8.000     1.750  1/15/2019
Arch Coal Inc               ACI      8.000     1.261  1/15/2019
Armstrong Energy Inc        ARMS    11.750    44.750 12/15/2019
Armstrong Energy Inc        ARMS    11.750    41.625 12/15/2019
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      7.750    12.150  1/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      9.250    13.350  8/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      9.250    11.500  8/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      9.250    11.500  8/15/2021
Avaya Inc                   AVYA    10.500    22.250   3/1/2021
Avaya Inc                   AVYA    10.500    20.000   3/1/2021
BPZ Resources Inc           BPZR     6.500     2.688   3/1/2015
BPZ Resources Inc           BPZR     6.500     2.688   3/1/2049
Basic Energy Services Inc   BAS      7.750    33.000  2/15/2019
Berry Petroleum Co LLC      LINE     6.375    21.750  9/15/2022
Berry Petroleum Co LLC      LINE     6.750    21.500  11/1/2020
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp              BBEP     8.625     9.250 10/15/2020
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp              BBEP     7.875     8.504  4/15/2022
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp              BBEP     8.625     9.250 10/15/2020
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp              BBEP     8.625     9.250 10/15/2020
Caesars Entertainment
  Operating Co Inc          CZR     10.000    41.000 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR     12.750    42.250  4/15/2018
Caesars Entertainment
  Operating Co Inc          CZR     10.000    41.000 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      5.750    40.000  10/1/2017
Caesars Entertainment
  Operating Co Inc          CZR     10.000    43.250 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR     10.000    41.000 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      5.750    12.250  10/1/2017
Caesars Entertainment
  Operating Co Inc          CZR     10.000    41.000 12/15/2018
Chassix Holdings Inc        CHASSX  10.000     8.000 12/15/2018
Chassix Holdings Inc        CHASSX  10.000     8.000 12/15/2018
Claire's Stores Inc         CLE      8.875    23.228  3/15/2019
Claire's Stores Inc         CLE     10.500    53.250   6/1/2017
Claire's Stores Inc         CLE      7.750    20.500   6/1/2020
Claire's Stores Inc         CLE      7.750    17.500   6/1/2020
Clean Energy Fuels Corp     CLNE     7.500    86.754  8/30/2016
Cliffs Natural
  Resources Inc             CLF      5.950    57.875  1/15/2018
Cliffs Natural
  Resources Inc             CLF      5.900    32.070  3/15/2020
Community Choice
  Financial Inc             CCFI    10.750    41.500   5/1/2019
Comstock Resources Inc      CRK      7.750    22.375   4/1/2019
Comstock Resources Inc      CRK      9.500    22.375  6/15/2020
Creditcorp                  CRECOR  12.000    52.000  7/15/2018
Creditcorp                  CRECOR  12.000    52.000  7/15/2018
Cumulus Media Holdings Inc  CMLS     7.750    42.000   5/1/2019
EPL Oil & Gas Inc           EXXI     8.250     7.750  2/15/2018
EXCO Resources Inc          XCO      8.500    16.474  4/15/2022
EXCO Resources Inc          XCO      7.500    19.000  9/15/2018
Eagle Rock Energy
  Partners LP /
  Eagle Rock Energy
  Finance Corp              EROC     8.375    16.750   6/1/2019
Emerald Oil Inc             EOX      2.000     2.000   4/1/2019
Endeavour
  International Corp        END     12.000     1.017   3/1/2018
Endeavour
  International Corp        END     12.000     1.017   3/1/2018
Energy & Exploration
  Partners Inc              ENEXPR   8.000     1.970   7/1/2019
Energy & Exploration
  Partners Inc              ENEXPR   8.000     1.970   7/1/2019
Energy Conversion
  Devices Inc               ENER     3.000     7.875  6/15/2013
Energy Future
  Holdings Corp             TXU     11.250    50.750  11/1/2017
Energy Future
  Holdings Corp             TXU      9.750    20.000 10/15/2019
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU     10.000     4.000  12/1/2020
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU     10.000     4.000  12/1/2020
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU      9.750    20.000 10/15/2019
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU      6.875     4.000  8/15/2017
Energy XXI Gulf Coast Inc   EXXI    11.000    40.000  3/15/2020
Energy XXI Gulf Coast Inc   EXXI     9.250     4.000 12/15/2017
Energy XXI Gulf Coast Inc   EXXI     7.500     4.750 12/15/2021
Energy XXI Gulf Coast Inc   EXXI     7.750     4.500  6/15/2019
Energy XXI Gulf Coast Inc   EXXI     6.875     4.875  3/15/2024
FBOP Corp                   FBOPCP  10.000     1.843  1/15/2009
FTS International Inc       FTSINT   6.250    25.000   5/1/2022
FXCM Inc                    FXCM     2.250    44.000  6/15/2018
FairPoint
  Communications Inc/Old    FRP     13.125     1.879   4/2/2018
Federal Home Loan Banks     FHLB     1.850    99.601  1/28/2021
Federal Home Loan Banks     FHLB     1.540    99.744  9/24/2019
Federal Home Loan Banks     FHLB     0.740   100.000  5/12/2017
Federal Home Loan Banks     FHLB     1.550    99.797   7/3/2019
Federal Home Loan Banks     FHLB     1.440    99.127   4/5/2019
Federal Home Loan Banks     FHLB     1.000    99.780  2/27/2018
Federal Home Loan Banks     FHLB     3.300    98.940  8/27/2032
Federal Home Loan Banks     FHLB     1.280    99.791  8/27/2018
Federal Home Loan
  Mortgage Corp             FHLMC    1.250   100.013  8/24/2018
Federal Home Loan
  Mortgage Corp             FHLMC    1.000   100.000 11/24/2017
Federal Home Loan
  Mortgage Corp             FHLMC    1.250    99.735  8/27/2018
Federal Home Loan
  Mortgage Corp             FHLMC    1.200   100.000  8/24/2018
Federal Home Loan
  Mortgage Corp             FHLMC    1.018   100.000 11/24/2017
Federal Home Loan
  Mortgage Corp             FHLMC    1.010   100.000 11/24/2017
Fleetwood Enterprises Inc   FLTW    14.000     3.557 12/15/2011
Forbes Energy Services Ltd  FES      9.000    43.000  6/15/2019
Gibson Brands Inc           GIBSON   8.875    50.000   8/1/2018
Gibson Brands Inc           GIBSON   8.875    50.000   8/1/2018
Gibson Brands Inc           GIBSON   8.875    49.800   8/1/2018
Glencore Funding LLC        GLENLN   1.700    99.971  5/27/2016
Goodman Networks Inc        GOODNT  12.125    45.531   7/1/2018
Goodrich Petroleum Corp     GDPM     8.875     4.875  3/15/2018
Goodrich Petroleum Corp     GDPM     8.875     0.583  3/15/2018
Gymboree Corp/The           GYMB     9.125    51.000  12/1/2018
Halcon Resources Corp       HKUS     9.750    19.000  7/15/2020
Halcon Resources Corp       HKUS     8.875    19.625  5/15/2021
Halcon Resources Corp       HKUS     9.250    20.445  2/15/2022
Hexion Inc                  HXN      9.200    57.790  3/15/2021
Horsehead Holding Corp      ZINC     3.800     4.000   7/1/2017
Horsehead Holding Corp      ZINC    10.500    55.500   6/1/2017
Horsehead Holding Corp      ZINC     9.000    20.000   6/1/2017
Horsehead Holding Corp      ZINC    10.500    55.500   6/1/2017
Horsehead Holding Corp      ZINC    10.500    55.500   6/1/2017
ION Geophysical Corp        IO       8.125    59.000  5/15/2018
Illinois Power
  Generating Co             DYN      7.000    40.250  4/15/2018
Iracore International
  Holdings Inc              IRACOR   9.500    59.125   6/1/2018
Iracore International
  Holdings Inc              IRACOR   9.500    59.125   6/1/2018
IronGate Energy
  Services LLC              IRONGT  11.000    25.000   7/1/2018
IronGate Energy
  Services LLC              IRONGT  11.000    24.500   7/1/2018
IronGate Energy
  Services LLC              IRONGT  11.000    24.500   7/1/2018
IronGate Energy
  Services LLC              IRONGT  11.000    24.500   7/1/2018
Key Energy Services Inc     KEG      6.750    25.250   3/1/2021
Las Vegas Monorail Co       LASVMC   5.500     3.125  7/15/2019
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp              LGCY     8.000    35.500  12/1/2020
Lehman Brothers
  Holdings Inc              LEH      2.000     3.736   3/3/2009
Lehman Brothers
  Holdings Inc              LEH      1.500     3.736  3/29/2013
Lehman Brothers
  Holdings Inc              LEH      5.000     3.736   2/7/2009
Lehman Brothers
  Holdings Inc              LEH      4.000     3.736  4/30/2009
Lehman Brothers
  Holdings Inc              LEH      1.600     3.736  11/5/2011
Lehman Brothers
  Holdings Inc              LEH      2.070     3.736  6/15/2009
Lehman Brothers Inc         LEH      7.500     1.226   8/1/2026
Liberty Interactive LLC     LINTA    1.000    86.688  9/30/2043
Linc USA GP / Linc Energy
  Finance USA Inc           LNCAU    9.625    18.000 10/31/2017
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     8.625    13.680  4/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.500    13.625  5/15/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     7.750    13.625   2/1/2021
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.250    13.625  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE    12.000    23.000 12/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.500    13.125  9/15/2021
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.250    13.250  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.250    13.250  11/1/2019
Logan's Roadhouse Inc       LGNS    10.750    10.000 10/15/2017
MBIA Insurance Corp         MBI     11.888    41.375  1/15/2033
MBIA Insurance Corp         MBI     11.888    41.000  1/15/2033
MF Global Holdings Ltd      MF       3.375    23.500   8/1/2018
MF Global Holdings Ltd      MF       9.000    23.500  6/20/2038
MGM Resorts International   MGM      7.500   100.000   6/1/2016
MModal Inc                  MODL    10.750    10.125  8/15/2020
Magnetation LLC /
  Mag Finance Corp          MAGNTN  11.000    20.000  5/15/2018
Magnetation LLC /
  Mag Finance Corp          MAGNTN  11.000     8.125  5/15/2018
Magnetation LLC /
  Mag Finance Corp          MAGNTN  11.000     8.125  5/15/2018
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.750     0.750  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     12.000     9.000   6/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.750    96.250  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.750     0.643  10/1/2020
Modular Space Corp          MODSPA  10.250    51.000  1/31/2019
Modular Space Corp          MODSPA  10.250    50.000  1/31/2019
Molycorp Inc                MCP     10.000     2.062   6/1/2020
Molycorp Inc                MCP      5.500     0.599   2/1/2018
Murray Energy Corp          MURREN  11.250    15.000  4/15/2021
Murray Energy Corp          MURREN   9.500    14.875  12/5/2020
Murray Energy Corp          MURREN  11.250    19.000  4/15/2021
Murray Energy Corp          MURREN   9.500    14.875  12/5/2020
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN  12.250    22.000  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN  12.250    29.000  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN  12.250    22.875  5/15/2019
Nexeo Solutions LLC /
  Nexeo Solutions
  Finance Corp              NEXEOS   8.375   100.375   3/1/2018
Nine West Holdings Inc      JNY      8.250    28.000  3/15/2019
Nine West Holdings Inc      JNY      6.125    19.665 11/15/2034
Nine West Holdings Inc      JNY      6.875    17.825  3/15/2019
Nine West Holdings Inc      JNY      8.250    22.500  3/15/2019
Nuverra Environmental
  Solutions Inc             NESC     9.875    33.250  4/15/2018
OMX Timber Finance
  Investments II LLC        OMX      5.540    12.000  1/29/2020
Optima Specialty Steel Inc  OPTSTL  12.500    80.000 12/15/2016
Optima Specialty Steel Inc  OPTSTL  12.500    70.500 12/15/2016
Peabody Energy Corp         BTU      6.000    11.100 11/15/2018
Peabody Energy Corp         BTU      6.500    10.250  9/15/2020
Peabody Energy Corp         BTU     10.000    12.750  3/15/2022
Peabody Energy Corp         BTU      6.250    11.500 11/15/2021
Peabody Energy Corp         BTU      4.750     0.800 12/15/2041
Peabody Energy Corp         BTU      7.875    11.173  11/1/2026
Peabody Energy Corp         BTU     10.000    11.875  3/15/2022
Peabody Energy Corp         BTU      6.000    11.125 11/15/2018
Peabody Energy Corp         BTU      6.000    17.250 11/15/2018
Peabody Energy Corp         BTU      6.250    10.875 11/15/2021
Peabody Energy Corp         BTU      6.250    10.875 11/15/2021
Penn Virginia Corp          PVAH     7.250    27.625  4/15/2019
Penn Virginia Corp          PVAH     8.500    29.250   5/1/2020
Permian Holdings Inc        PRMIAN  10.500    38.625  1/15/2018
Permian Holdings Inc        PRMIAN  10.500    38.625  1/15/2018
Pernix Therapeutics
  Holdings Inc              PTX      4.250    19.750   4/1/2021
Pernix Therapeutics
  Holdings Inc              PTX      4.250    19.241   4/1/2021
PetroQuest Energy Inc       PQ      10.000    50.500   9/1/2017
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                PRSPCT  10.250    34.750  10/1/2018
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                PRSPCT  10.250    34.750  10/1/2018
Quicksilver Resources Inc   KWKA     9.125     0.750  8/15/2019
Quicksilver Resources Inc   KWKA    11.000     2.500   7/1/2021
Resolute Energy Corp        REN      8.500    46.750   5/1/2020
Rex Energy Corp             REXX     8.875    19.927  12/1/2020
Rex Energy Corp             REXX     6.250    10.000   8/1/2022
Rolta LLC                   RLTAIN  10.750    54.875  5/16/2018
SFX Entertainment Inc       SFXE     9.625     1.500   2/1/2019
SFX Entertainment Inc       SFXE     9.625     1.500   2/1/2019
SFX Entertainment Inc       SFXE     9.625     1.500   2/1/2019
SFX Entertainment Inc       SFXE     9.625     1.500   2/1/2019
Sabine Oil & Gas Corp       SOGC     7.250     1.250  6/15/2019
Sabine Oil & Gas Corp       SOGC     7.500     1.125  9/15/2020
Sabine Oil & Gas Corp       SOGC     7.500     1.031  9/15/2020
Sabine Oil & Gas Corp       SOGC     7.500     1.031  9/15/2020
Samson Investment Co        SAIVST   9.750     1.500  2/15/2020
SandRidge Energy Inc        SD       8.750    40.250   6/1/2020
SandRidge Energy Inc        SD       8.750     5.375  1/15/2020
SandRidge Energy Inc        SD       7.500     5.500  3/15/2021
SandRidge Energy Inc        SD       8.125     5.500 10/15/2022
SandRidge Energy Inc        SD       7.500     5.500  2/15/2023
SandRidge Energy Inc        SD       8.750    42.500   6/1/2020
SandRidge Energy Inc        SD       8.125     5.500 10/16/2022
SandRidge Energy Inc        SD       7.500     5.500  2/16/2023
SandRidge Energy Inc        SD       7.500     5.500  3/15/2021
SandRidge Energy Inc        SD       7.500     5.500  3/15/2021
Sequa Corp                  SQA      7.000    26.750 12/15/2017
Sequa Corp                  SQA      7.000    26.625 12/15/2017
Sequenom Inc                SQNM     5.000    62.750   1/1/2018
Seventy Seven Energy Inc    SSEI     6.500     5.875  7/15/2022
Sidewinder Drilling Inc     SIDDRI   9.750     6.125 11/15/2019
Sidewinder Drilling Inc     SIDDRI   9.750     6.000 11/15/2019
Speedy Group Holdings Corp  SPEEDY  12.000    45.750 11/15/2017
Speedy Group Holdings Corp  SPEEDY  12.000    45.750 11/15/2017
SquareTwo Financial Corp    SQRTW   11.625    11.500   4/1/2017
Stone Energy Corp           SGY      7.500    22.500 11/15/2022
Stone Energy Corp           SGY      1.750    25.000   3/1/2017
SunEdison Inc               SUNE     2.000     4.500  10/1/2018
SunEdison Inc               SUNE     5.000    22.000   7/2/2018
SunEdison Inc               SUNE     0.250     6.125  1/15/2020
SunEdison Inc               SUNE     2.375     6.063  4/15/2022
SunEdison Inc               SUNE     2.750     5.750   1/1/2021
SunEdison Inc               SUNE     2.625     5.875   6/1/2023
SunEdison Inc               SUNE     3.375     6.000   6/1/2025
Swift Energy Co/Texas       SFY      7.875     4.500   3/1/2022
Swift Energy Co/Texas       SFY      8.875     5.500  1/15/2020
Syniverse Holdings Inc      SVR      9.125    50.000  1/15/2019
TMST Inc                    THMR     8.000    10.890  5/15/2013
Talos Production LLC /
  Talos Production
  Finance Inc               TALPRO   9.750    31.000  2/15/2018
Talos Production LLC /
  Talos Production
  Finance Inc               TALPRO   9.750    31.250  2/15/2018
TerraVia Holdings Inc       TVIA     6.000    51.829   2/1/2018
Terrestar Networks Inc      TSTR     6.500    10.000  6/15/2014
TetraLogic
  Pharmaceuticals Corp      TLOG     8.000    24.879  6/15/2019
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU     10.250     6.120  11/1/2015
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU     11.500    32.000  10/1/2020
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU     15.000     6.000   4/1/2021
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU     10.250     6.063  11/1/2015
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU     15.000     6.125   4/1/2021
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc           TXU     11.500    31.750  10/1/2020
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc           TXU     10.250     6.000  11/1/2015
Triangle USA Petroleum Corp  TPLM     6.750    18.000  7/15/2022
Triangle USA Petroleum Corp  TPLM     6.750    19.625  7/15/2022
UCI International LLC        UCII     8.625    28.750  2/15/2019
Vanguard Natural
  Resources LLC /
  VNR Finance Corp           VNR      7.875    21.115   4/1/2020
Venoco Inc                   VQ       8.875     3.840  2/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750    17.250  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750    17.250  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750     0.993  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750    16.500  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750     1.043  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750     1.043  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc            VRS     11.750    16.500  1/15/2019
Violin Memory Inc            VMEM     4.250    29.196  10/1/2019
W&T Offshore Inc             WTI      8.500    19.750  6/15/2019
Walter Energy Inc            WLTG     9.500    13.000 10/15/2019
Walter Energy Inc            WLTG     9.500    21.625 10/15/2019
Walter Energy Inc            WLTG     9.500    21.625 10/15/2019
Walter Energy Inc            WLTG     9.500    21.625 10/15/2019
Warren Resources Inc         WRES     9.000     2.097   8/1/2022
Warren Resources Inc         WRES     9.000     2.097   8/1/2022
Warren Resources Inc         WRES     9.000     2.097   8/1/2022
Washington Mutual Bank /
  Debt not acquired
  by JPMorgan                WAMU     6.750     0.252  5/20/2036
iHeartCommunications Inc     IHRT    10.000    47.750  1/15/2018
iHeartCommunications Inc     IHRT     6.875    55.625  6/15/2018


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

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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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