TCR_Public/161101.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, November 1, 2016, Vol. 20, No. 305

                            Headlines

10SCHALK LLC: Hires Rizzolo Realty as Real Estate Broker
AIM STEEL: U.S. Trustee Forms Three-Member Committee
AIR 2 US: Fitch Affirms BB+ Rating on Series A EENs
ALEMAYEHU MARU: Disclosures OK'd; Plan Hearing on Dec. 6
ALLIED INJURY: Hires Fredman Lieberman as Bankruptcy Counsel

ALPHA MEDIA: Moody's Affirms B2 Corporate Family Rating
AMC ENTERTAINMENT: Fitch Rates $500MM Incremental Loan B 'BB+/RR1'
ASP CHROMAFLO: Moody's Assigns B3 Corporate Family Rating
BAKERCORP INTERNATIONAL: Moody's Affirms Caa1 Corp Family Rating
BEAR CREEK: Ch. 11 Trustee Hires A.L. Mitchell as Accountant

BEAR CREEK: Ch. 11 Trustee Hires Beadle Smith as Counsel
BIOCORRX INC: Sells $220,000 Convertible Promissory Notes
BIOSTAGE INC: First Pecos, Banco Panamericano Offer Financing
BLUE LIGHT: Case Summary & 6 Largest Unsecured Creditors
BLUENRGY GROUP: HLB Mann Judd Raises Going Concern Doubt

BUFFETS LLC: Files Supplemental Application for Padgett Stratemann
BURCON NUTRASCIENCE: Dr. Chan Reports 22.4% Stake as of Oct. 24
C SWANK ENTERPRISES: Hires Calaiaro Valencik as Counsel
CADIZ INC: Mulls Sale of $40 Million of Securities
CANNASYS INC: Amends Prospectus Over Issuance of 1.1-Mil. Shares

CENTURY AUTO: Names Archie Granata as Accountant
CHC GROUP: Jones Day Representing AG/CO Senior Secured Noteholders
CHINA COMMERCIAL: Yang Jie Holds 16.5% Equity Stake as of Oct. 24
CHINA FISHERY: Bid for Appointment of Ch. 11 Trustee Granted
CHINA GINSENG: Chairman and Chief Executive Officer Resigns

CIRCLE Z: U.S. Trustee Forms Two-Member Committee
CLASSIC COMMUNITIES: Hires Marcus & Millichap as Broker
CLIFFS NATURAL: Appoints Eric Rychel to Board of Directors
CLIFFS NATURAL: Incurs $27.8 Million Net Loss in Third Quarter
COLORADO 2002B: Taps Gray Reed as Counsel

CONTROL SYSTEMS: Disclosures OK'd; Plan Hearing on Nov. 17
CORPORATE RISK: Moody's Puts Caa2 CFR Under Review for Upgrade
COSI INC: Creditors' Panel Hires Nixon Peabody as Counsel
CRAIG SHERMAN MILLER: Unsecureds To Recoup 13% Under Plan
DOVER DOWNS: Reports Results for Third Quarter

DUPONT YARD: Disclosures Okayed; Plan Hearing on Dec. 7
ENERGY TRANSFER: Fitch Assigns 'BB' Rating on Jr Subordinated Debt
ENUMERAL BIOMEDICAL: Launches Tender Offer to Amend Warrants
EVOSHIELD LLC: Involuntary Chapter 11 Case Summary
EXCELLENT PERFORMANCE: Voluntary Chapter 11 Case Summary

FAIRWAY OUTDOOR: Fitch Affirms 'BB-sf' Rating on Class B Notes
FUNCTION(X) INC: Executives Presented at MicroCap Conference
FUNCTION(X) INC: Obtains Waiver on Debenture Payments
GARDEN FRESH: Hires Hilco Real Estate as Real Estate Advisor
GELTECH SOLUTIONS: Appoints Michael Reger Board Chairman

GEMMA CALLISTE: Hearing on Malachi's Plan Outline Set For Dec. 7
GENETICS TECHNOLOGIES: PwC Expresses Concern Doubt
GIGA-TRONICS INC: Stockholders Elect Six Directors
GOLFSMITH INT'L: Ombudsman Hires Lowenstein as Counsel
GRAFTECH INTERNATIONAL: Incurs $23M Net Loss in Sept. 30 Quarter

GREAT BASIN: $13.5MM of 2015 Notes Converted to Equity
HANCOCK STREET: Court Denies D. Rosenbaum's Admin. Expense Claim
I.K.E. ELECTRICAL: Hires Peckar & Abramson as Special Counsel
IDERA PHARMACEUTICALS: Reports Q3 2016 Financial Results
IEG HOLDINGS: Recurring Losses Raises Going Concern Doubt

INDIANA FINANCE: Fitch Lowers Rating on PABs to 'B'
INFOBLOX INC: Fitch Assigns 'B' IDR; Outlook Stable
INT'L HOUSE OF PRAYER: Hires Richard B. Rosenblatt as Attorney
INTEGRATED FREIGHT: In Default Under Loans from Hillair et al.
KAISER GYPSUM: Future Claimants' Hires Ankura as Consultant

KAISER GYPSUM: Future Claimants' Hires Young Conaway as Attorney
KAISER GYPSUM: Futures Rep Hires Hull & Chandler as Local Counsel
KEY ENERGY: Sullivan, Cleary & Morris Representing Ad Hoc Committee
KIRK'S FRAMING: Hires Debra J. Hawkins as Accountant
LADERA LLC: RWN1H-DL to Auction Property on November 29

LEGACY RESERVES: Inks $300MM Loan Agreement with Cortland Capital
LEGACY RESERVES: S&P Assigns 'CCC' Rating on New $300MM Loan
LIBERTY ASSET: Hires Tisdale & Nicholson as Special Counsel
LIQUIDMETAL TECHNOLOGIES: Raises $63.4MM from Hong Kong Firm
MATTHEW HALPER: Court Denies Approval of Disclosure Statement

MILLAR WESTERN: Moody's Cuts Corporate Family Rating to Caa1
NADLER & DARWISH: Unsecureds To Be Paid 10% Under Ch. 11 Plan
NAKED BRAND: Issues $112,000 Convertible Note to CEO
NETSMART INC: Moody's B3 CFR Unaffected by Loan Increase
NISKA GAS: S&P Assigns 'BB-' CCR, Outlook Stable

NOTIS GLOBAL: Signs $3.3MM Note Purchase Deal with Magic Farms
OMEROS CORP: Inks $125 Million Loan Agreement with CRG Servicing
OPEXA THERAPEUTICS: Unveils Tcelna Phase 2b Clinical Trial
OPIANT PHARMACEUTICALS: MaloneBailey LLP Raises Going Concern Doubt
OUTSIDE PLANT: Case Summary & 3 Largest Unsecured Creditors

OWENS-ILLINOIS INC: S&P Rates Proposed EUR600MM Notes 'BB'
PADCO PRESSURE: U.S. Trustee Forms Three-Member Committee
PERFORMANCE SPORTS: Case Summary & 40 Largest Unsecured Creditors
PERFORMANCE SPORTS: Files for Bankruptcy with $575M Purchase Deal
PLANET FITNESS: Moody's Affirms B1 Corporate Family Rating

PLANET INTERMEDIATE: S&P Affirms 'BB-' CCR, Outlook Stable
POSITIVEID CORP: Stockholders Elect Four Directors
PROFESSIONAL DIVERSITY: Extends Self-Tender Offer Until Nov. 7
R & R INDUSTRIES: Disclosures Conditionally OK'd; Hearing on Dec. 1
RENNOVA HEALTH: Aella Ltd. Reports 5.6% Stake as of Sept. 21

RESOLUTE ENERGY: Firewheel Energy et al., Hold 12.1% Equity Stake
RITE AID: Fitch Maintains 'B' LT Issuer Default Rating on RWP
ROOT9B TECHNOLOGIES: Stockholders OK Reverse Common Stock Split
ROYAL FLUSH: Hires Calaiaro Valencik as Counsel
SAEXPLORATION HOLDINGS: Amends Senior Loan Facility

SAEXPLORATION HOLDINGS: Has Access to Remaining $15-Mil. Loan
SAM DANIEL: Case Summary & 15 Largest Unsecured Creditors
SANDIA DISTRIBUTOR: Hires Price Kong as Accountant
SEEGRID CORP: Court Allows Former CEO's Claims
SEMLER SCIENTIFIC: Posts $362,000 Net Loss for Sept. 30 Quarter

SHREE SHIVA: Case Summary & 2 Largest Unsecured Creditors
SIRIUS INTERNATIONAL: Fitch Rates $250MM Pref. Shares 'BB+'
SKIN SENSE: Case Summary & 20 Largest Unsecured Creditors
SMILES AND GIGGLES: US Trustee Fails to Appoint Creditors' Panel
SOLID NORTH: US Trustee Fails to Appoint Creditors' Committee

SPI ENERGY: Completes 700 kW Rooftop Solar Project in California
STERIGENICS-NORDION HOLDINGS: Moody's Lowers CFR to 'B'
STERIGENICS-NORDION HOLDINGS: S&P Affirms 'B' CCR; Outlook Stable
STONE ENERGY: Geosphere Capital Holds 8.96% Stake as of Oct. 21
STRATA SKIN: Has Until April 2017 to Regain NASDAQ Compliance

STRATA SKIN: Stockholders Elect 7 Directors, Approve Bonus Plan
SUNEDISON INC: To Auction Off Assets on November 15
TECK RESOURCES: Moody's Hikes Corporate Family Rating to B1
TELKONET INC: Inks 2nd Amendment to Heritage Bank Credit Agreement
TEMPLAR ENERGY: S&P Withdraws 'SD' Corporate Credit Rating

TRANS ENERGY: Files Amendment No.1 to Tender Offer Statement
TRANS ENERGY: To Increase Size of Board of Directors
TRINITY 83: Unsecureds To Recoup 100% in 5 Years
UCI INTERNATIONAL: Plan Confirmation Hearing Set for December 6
UNI-PIXEL INC: Closes $2.5MM Credit Facility With Bridge Bank

UNITED CONTINENTAL: Fitch Hikes Issuer Default Rating to 'BB'
UNIVERSAL SOFTWARE: Seeks to Hire Legal Visa as Special Counsel
URBANCORP INC: CCAA Claims Bar Date Set for November 23
VEGA ALTA: Hires Jaime Rodriguez Law as Counsel
VELOP CORP: Hires JPC Law as Bankruptcy Counsel

WAFERGEN BIO-SYSTEMS: Stockholders Meeting Adjourned to Nov. 15
WAFERGEN BIO-SYSTEMS: Urges Stockholders to Vote For Merger
WEST VIRGINIA HIGH: Hires Easter Valley as Real Estate Broker
WEST VIRGINIA HIGH: Hires Rolston as Real Estate Appraiser

                            *********

10SCHALK LLC: Hires Rizzolo Realty as Real Estate Broker
--------------------------------------------------------
10Schalk, LLC seeks authorization from the U.S. Bankruptcy Court
for the District of New Jersey to employ Rizzolo Realty Advisors,
LLC as real estate broker to sell the Debtor's multi-unit apartment
building located in East Orange, New Jersey.

Rizzolo Realty will be compensated at 3.5% commission on $900,000
sale of the buildings.

Christopher Rizzolo, realtor of Rizzolo Realty, 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 Debtor and its estate.

Rizzolo Realty can be reached at:

       Christopher Rizzolo
       RIZZOLO REALTY ADVISORS, LLC
       2715 Cooper Ave.
       Brick, NJ 08723

                       About 10Schalk, LLC

10SCHALK, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
D.N.J. Case No. 16-25700) on August 16, 2016, disclosing under
$1 million in both assets and liabilities. The Debtor is
represented by Bruce H Levitt, Esq., at Levitt & Slafkes, P.C.


AIM STEEL: U.S. Trustee Forms Three-Member Committee
----------------------------------------------------
Guy G. Gebhardt, Acting U.S. Trustee for Region 21, on Oct. 27
appointed three creditors of AIM Steel International, Inc., to
serve on the official committee of unsecured creditors.

The committee members are:

     (1) Bell Steel Company
         Attn: Randall Bell, III, President
         P.O. Box 12109
         Pensacola, FL 32591
         Tel: (850) 432-1545
         E-mail: rbell@bellsteel.com

     (2) Birmingham Fasterner, Inc.
         Attn: Derryl Salzburn
         P.O. Box 10323
         Birmingham, AL 35202
         Tel: (205) 595-3511
         E-mail: dscredit@bhamfast.com

     (3) Steel Erectors, Inc.
         Attn: David Clifton, President
         1767 Old Dean Forest Road
         Pooler, GA 31322
         Tel: (912) 544-1380, ext. 101
         E-mail: leslie@steelerectorsinc.com

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 AIM Steel

AIM Steel International, Inc., sought protection under Chapter 11
of the Bankruptcy Code (Bankr. N. D. Ga. Case No. 16-67661) on Oct.
3, 2016.  The petition was signed by David Brown, general manager.

At the time of the filing, the Debtor disclosed $578,812 in assets
and $2.67 million in liabilities.

Ian M. Falcone, Esq., at The Falcone Law Firm, P.C., serves as the
Debtor's bankruptcy counsel.


AIR 2 US: Fitch Affirms BB+ Rating on Series A EENs
---------------------------------------------------
Fitch Ratings has taken these rating actions on the enhanced
equipment notes (EENs) issued by AIR 2 US:

   -- Series A EENs affirmed at 'BB+/RR1';
   -- Series B EENs upgraded to 'BB-/RR5' from 'B+/RR5'.

The upgrade of the Series B EENs is driven by Fitch's recent
upgrade of United Airlines' Issuer Default Rating (IDR) to 'BB'
from 'BB-'.

AIR 2 US is a special purpose Cayman Islands company created to
issue EENs; use the proceeds to purchase Permitted Investments; and
enter into a risk transfer agreement.  AIR 2 US entered into the
risk transfer agreement (the Payment Recovery Agreement), with a
subsidiary of Airbus.  The primary provision of the Payment
Recovery Agreement states that if United Airlines, Inc. (rated
'BB'/Outlook Stable) fails to pay scheduled rentals under existing
subleases of aircraft with subsidiaries of Airbus, AIR 2 US will
pay these rental deficiencies to a subsidiary of Airbus.  These
deficiency payments will come from the cash flows created by the
Permitted Investments.  As such, the greatest risk of the
transaction is the bankruptcy risk of the lessee airline.

                        KEY RATING DRIVERS

AIR 2 US is not covered effectively by Fitch's EETC ratings
criteria because aircraft cannot be sold and liquidated in the
event of lease rejection of Airbus A320 aircraft sub-leased by
United.  In addition, the underlying subleases are not
cross-defaulted or cross-collateralized.  Applying a framework
similar to that employed in analysis of corporate obligations,
Fitch expects recoveries for series A noteholders to be very strong
in a lease rejection scenario.  Discounted lease cash flows,
applying heavy stresses to current A320 lease rates, cover series A
principal and a full liquidity facility draw.  The 'BB+/RR1'
rating, one notch above United's 'BB' IDR, reflects the high level
of projected recovery.

Expected recoveries for series B noteholders may be weak, in the
'RR5' range, reflecting a high probability of lease payment
shortfalls in a post-rejection scenario.  The one-notch
differential between the 'BB-/RR5' rating of the series B notes and
United's 'BB-' corporate IDR captures this weak recovery
potential.

                          KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for Air 2 US
include:

   -- A stress scenario where the underlying releases are rejected

      in the near- to intermediate term;
   -- Lease rates come under pressure, falling below current  
      market rates;
   -- The collateral aircraft experience a re-leasing period of
      six months.

                          RATING SENSITIVITIES

The ratings are primarily driven by Fitch's recovery expectations
and by the IDR of the underlying airline.  Therefore, changes in
either of those factors could lead to rating actions on the Air 2
US notes.



ALEMAYEHU MARU: Disclosures OK'd; Plan Hearing on Dec. 6
--------------------------------------------------------
The Hon. Thomas J. Catliota of the U.S. Bankruptcy Court for the
District of Maryland has approved Alemayehu G. Maru and Yanet M.
Kebreab's disclosure statement dated Sept. 1, 2016, referring to
the Debtors' plan of reorganization.

A hearing will be held on Dec. 6, 2016, at 2:00 p.m. to consider
the confirmation of the Debtors' Plan.

Objections to the confirmation of the Plan, as well as written
acceptances or rejections of the Plan, must be filed by Nov. 28,
2016.

As reported by the Troubled Company Reporter on Oct. 12, 2016, the
Debtors filed a reorganization plan that says general unsecured
creditors will all be paid the total amount of their claims,
$4,935, plus simple interest at the federal funds rate on the
Effective Date, from the date of the bankruptcy filing to the
Effective Date, in a single lump sum payment on the Effective Date
of the Plan.  The general unsecured creditors (Class C) are not
impaired.

                         About the Debtors

Alemayehu Maru is 52 years old, and has been a resident of Maryland
since 1989.  He graduated from the Howard University School of
Pharmacy with a Doctor of Pharmacy degree.  He has been a
registered pharmacist for the last 19 years, and currently works as
a staff pharmacist at the Safeway pharmacy in Clinton.

Yante M Kebreab is 45 years old, and has been a resident of
Maryland since 1991.  She graduated from Columbia Union College in
1996 with a Bachelor of Science in Nursing.  Ms. Kebreab holds a
professional license in nursing from the District of Columbia.
She has been a registered nurse for the last 20 years, and has
worked at Sibley Memorial Hospital since 2001, with an emphasis on
obstetrical and fetal-maternal medicine.

Mr. Maru and Ms. Kebreab have been married for 19 years and have a
14 year-old daughter.

Alemayehu G. Maru and Yanet M. Kebreab filed for Chapter 11
bankruptcy protection (Bankr. D. Md. Case No. 15-24165) on Oct.
13,
2015.

An unsecured creditors' committee has not been appointed in this
case.  No trustee or examiner has been appointed.  Chung & Press,
LLC was appointed to represent the Debtors/Debtors-in-Possession as
counsel in the case.


ALLIED INJURY: Hires Fredman Lieberman as Bankruptcy Counsel
------------------------------------------------------------
Allied Injury Management, Inc., seeks authority from the U.S.
Bankruptcy Court for the Central District of California to employ
Pearl LLP as general bankruptcy and reorganization counsel to the
Debtor.

Allied Injury requires Fredman to represent the Debtor in the the
case of San Bernardino County Superior Court matter of Cambridge
Medical Funding Group II, LLC v. One Stop-Multi-Specialty Medical
Group, Inc; Allied Injury Management, Inc., CIVDS100743.

Fredman will be paid at these hourly rates:

     Howard S. Fredman               $485
     Marc A. Lieberman               $515
     Mark J. Pearl                   $485
     Gregg Yaris                     $475
     Alan W. Forsley                 $435
     Rosette Nahman                  $340
     Paralegal                       $195

Fredman will be paid a retainer in the amount of $25,000.

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

Marc A. Lieberman, member of Fredman Lieberman Pearl 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 Debtor and its estates.

Fredman can be reached at:

     Marc A. Lieberman, Esq.
     FREDMAN LIEBERMAN PEARL LLP
     1875 Century Park East, Suite 2230
     Los Angeles, CA 90067
     Tel: (310) 284-7350
     Fax: (310) 432-5999

                    About Allied Injury

Headquartered in San Bernardino, California, Allied Injury
Management, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Cal. Case No. 16-14273) on May 11, 2016, estimating
assets between $10 million and $50 million and debt between $1
million and $10 million. The petition was signed by John R. Larson,
M.D., president.

Judge Mark D. Houle presides over the case.

Alan W Forsley, Esq., and Marc Liberman, Esq., at Fredman Lieberman
Pearl LLP, serve as the Debtor's bankruptcy counsel.


ALPHA MEDIA: Moody's Affirms B2 Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service changed Alpha Media LLC's (Alpha Media)
rating outlook to negative from stable and affirmed the existing B2
corporate family rating (CFR) and the B1 rating on the first lien
credit facility. The company's $65 million second lien note and $55
million holdco note are not rated by Moody's.

The change in the outlook to negative from stable reflects weaker
than expected operating performance which has led leverage to
increase to 6.3x as of Q2 2016 (including Moody's standard lease
adjustment and the company's holdco debt). Free cash flow levels
are also lower than initially anticipated which limits the
company's ability to reduce debt going forward. Moody's projects
EBITDA levels to gradually stabilize and for debt to decline from
current levels due to the 5% annual amortization payment on the
first lien term loan as well as additional debt repayment in 2017.
However, it will be a challenge to reduce leverage to a level
consistent with a B2 CFR and the company is poorly positioned to
face a future decline in the economy or an increase in secular
pressure in the radio industry.

The following is a summary of Moody's ratings actions:

   Issuer: Alpha Media LLC

   -- Corporate Family Rating, affirmed B2

   -- Probability of Default Rating, affirmed B2-PD

   -- $20 million 1st lien sr secured revolver; affirmed B1, LGD3

   -- $265 million 1st lien sr secured term loan, affirmed B1,
      LGD3

   -- Outlook changed to Negative from Stable

   -- Speculative Grade Liquidity Rating, withdrawn at SGL-2

RATINGS RATIONALE

Alpha Media's B2 CFR reflects the company's very high pro forma
leverage of 6.3x as of June 30, 2016 (including Moody's standard
adjustments and holdco debt) and the weak performance since the
transaction was launched to fund the acquisition of Digity LLC.
Ratings also incorporate the secular pressures facing the industry,
the cyclical nature of radio advertising demand, and the company's
ownership by financial sponsors. High leverage increases the
challenge of managing a business that is vulnerable to advertising
spending cycles with heightened competition for advertising dollars
from advertising alternatives and additional competition from
digital music services. Alpha operates a diverse portfolio of
stations including good positions in the majority of its ranked
markets with a significant portion of revenue generated by stations
in small to medium sized markets. Efforts to delever the balance
sheet will be challenged by the need to offset the accretion of its
$55 million holdco PIK notes. The aggressive acquisition strategy
of the company since 2014 increases integration risk; however,
acquisition activity is expected to be reduced in the near term
given the recent underperformance and very high leverage level.

The negative outlook reflects Moody's view that it will be
challenging for the company to reduce leverage to a level
consistent with a B2 CFR. Revenue growth is expected to be
generally flat to slightly negative on a same-station basis which
is in line with our projections for the radio industry. Moody's
said, “We anticipate debt levels will decline due to the above
average amortization levels as well as additional debt repayment
from asset sales, but not to a level consistent with a B2 CFR
without an improvement in EBITDA levels.”

Liquidity is expected to be adequate with access to a $20 million
revolver facility due February 2021 that had $6 million drawn and
$1 million of cash on the balance sheet as of Q2 2016. The revolver
is anticipated to have been paid down from free cash flow following
Q2 2016. Free cash flow-to-debt is expected to be in the low-single
digit percent range (excluding PIK interest expense on the holdco
note) over the next 12 months. The company is required to make a
1.25% quarterly amortization payment on its $265 million term loan
B. Capex is expected to be under $10 million with minimal tax
payments. There are no near term maturities until 2021 when the
revolver expires.

Alpha is subject to a net total leverage maintenance covenant for
the 1st lien credit facilities that is currently set at 5.9x, but
the covenant ratio steps down each quarter until it reaches 3.5x in
December 2020. While we don't expect a near term covenant
violation, the company will need to grow EBITDA or reduce debt in
order to avoid a covenant violation over time.

Debt ratings could be downgraded if debt to EBITDA (as calculated
by Moody's) is not expected to decline below 5.5x over the next
year and a half. A weakened liquidity position or a limited cushion
of compliance with its financial covenants would also lead to a
downgrade.

A stabilization of the outlook would occur if the company was
expected to operate under 5.5x (as calculated by Moody's) as well
as with a free cash flow to debt ratio in the mid single digits.
Liquidity would also need to be good with a sufficient cushion of
compliance with its financial covenants factoring in the step down
in covenant levels in the credit agreement.

The principal methodology used in these ratings was Global
Broadcast and Advertising Related Industries published in May 2012.


Pro forma for the Digity acquisition, Alpha Media LLC (Alpha) owns
and operates 251 radio stations in 51 markets, more than 250
related websites, and three live performance lounges. Headquartered
in Portland, OR, the company represents an acquisition roll up of
stations from operators including Triad Broadcasting, Border Media,
Main Line Broadcasting, Morris Radio, and Digity. The company is
privately held and the largest shareholders include Stephens
Capital Partners, Endeavour Capital, and management.



AMC ENTERTAINMENT: Fitch Rates $500MM Incremental Loan B 'BB+/RR1'
------------------------------------------------------------------
Fitch Ratings has assigned a 'BB+/RR1' to AMC Entertainment
Holdings, Inc.'s (AMC) $500 million incremental senior secured term
loan B due 2023. Fitch has also assigned a 'B-/RR6' to AMC's $535
million USD-denominated senior subordinated private placements
notes due 2026 and $300 million Sterling-denominated senior
subordinated private placement notes due 2024. The notes will be
general unsecured senior subordinated obligations of AMC
Entertainment Holdings, Inc. Fitch maintains the Rating Watch
Negative on the 'B+' Issuer Default Rating (IDR) assigned to AMC. A
full list of rating actions follows at the end of this release.

Proceeds from the issuances, together with borrowings under the new
term loans and cash on hand, as well as additional liquidity
sources are to be used to fund the previously announced
acquisitions of Carmike Cinemas and Odeon and UCI Cinemas Limited.
Fitch calculates unadjusted leverage pro forma for the acquisitions
in the range of 5.0x to 5.4x as of June 30, 2016 depending on how
AMC chooses to fund the unfunded portion of the Carmike
acquisition. Fitch expects unadjusted leverage to be maintained at
or below 4.5x in the 12-18 months following the acquisition to
maintain the 'B+' rating. AMC's target net leverage of 4.0x signals
a more aggressive financial policy that may be outside Fitch's
threshold for a 'B+' rating.

Fitch believes both acquisitions are consistent with the company's
strategy to add domestic theatre assets complementary to its
portfolio and establish a global footprint. Although AMC will be
able to leverage its premium amenities and re-seating initiatives,
it remains to be seen whether this strategy will resonate well in
overseas markets.

The Rating Watch Negative reflects uncertainty surrounding the
ultimate resolution of the pending Carmike acquisition and the
execution risks surrounding the acquisition of Odeon and UCI
Cinemas Limited entering the European markets.

Resolution of the Rating Watch will be predicated on Fitch's review
of the strategic benefits of the acquisition balanced against the
execution risks related to company's ability to successfully
leverage its domestic strategy in the new European markets. In
addition, Fitch will assess AMC's financial policy as well as the
company's ability and commitment to reduce leverage following the
close of the acquisitions.

KEY RATING DRIVERS

AMC has demonstrated traction in key strategic initiatives, as can
be seen in its improving admission revenue per attendee, concession
revenue per attendee, and concession gross profit per attendee.
Fitch calculates June 30, 2016 LTM EBITDA margins of 16.4%
(excludes National Cinemedia distribution), an improvement from
13.6% at Sept. 27, 2012. Fitch recognizes that AMC's continued
expansion into premium food offerings will pressure high concession
margins; however, growth in the top line should grow absolute gross
profit dollars in this segment.

AMC Entertainment Holdings Inc. instituted a quarterly dividend of
$19.6 million ($78 million for the full year), with the first
dividend paid in second quarter 2014 (2Q14). For the LTM period,
AMCH paid $78.8 million in dividends. In conjunction with a history
of elevated capital expenditures, the dividend will pressure FCF.
Fitch has modeled capital expenditure spending of approximately
$255 million to $275 million (net of landlord contributions) in
2016. Fitch said, “As a result, we expect FCF will range from
zero to positive $50 million over the next year. LTM FCF at June
30, 2016 was $0.2 million.”  

Fitch believes that AMC has sufficient liquidity to fund capital
initiatives, make small theater-circuit acquisitions, and cover its
term loan amortization. Liquidity is supported by cash balances of
$93 million and availability of $137 million on its secured
revolver as of June 30, 2016.

AMC's ratings reflect Fitch's belief that movie exhibition will
continue to be a key promotion window for the movie studios'
biggest/most profitable releases.

According to Box Office Mojo, 2015's box office delivered positive
growth of 7.4% and record-setting box office revenues of $11.1
billion. Industry fundamentals benefited from a strong slate, which
recorded attendance growth of 4.1% and a 3.2% increase in average
ticket price. As 2015 was a record year, it will pose a tough
comparison in 2016. Similar to past years, the 2016 film slate
features many high-profile tentpole films that have a strong
likelihood of box office success, some of which have already proven
to be domestic and international successes including 'Deadpool,'
'Captain America: Civil War', 'Zootopia', 'Finding Dory,' and
'Suicide Squad.' 'Fantastic Beasts and Where to Find Them,' and
'Rogue One: A Star Wars Story' headline a strong film slate for the
remainder of 2016. Fitch believes the film slate will support flat-
to low-single-digit industrywide box office revenue growth.

Fitch believes the investments made by AMC and its peers to improve
the patron's experience are prudent. While capital expenditure may
be elevated in the near term and high concession margins may be
pressured over the long term, exhibitors should benefit from
delivering an improved value proposition to their patrons and that
the premium food services/offerings will grow absolute levels of
revenue and EBITDA.

In addition, AMC and its peers rely on the quality, quantity, and
timing of movie product, all factors out of management's control.

KEY ASSUMPTIONS

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

   -- Flat- to low-single-digit admissions revenue growth; low-
      single-digit growth in average ticket price;

   -- EBITDA margin expansion;

   -- Capital expenditures remain elevated in the near term as AMC

      continues to invest in recliner re-seats and enhanced food
      and beverage offerings. Fitch expects capex of $255 million-
      $270 million (net of landlord contributions) during 2016;

   -- Pro forma unadjusted gross leverage above 4.5x during 2017.

RATING SENSITIVITIES

Positive Trigger: Fitch weighs the prospective challenges facing
AMC and its industry peers heavily when considering the long-term
credit rating. Significant improvements in the operating
environment (sustainable increases in attendance from continued
success of operating initiatives) driving FCF/adjusted debt above
2% and adjusted leverage below 4.5x on a sustainable basis could
have a positive effect on the rating. In strong box office years,
metrics should be strong enough to provide a cushion for weaker box
office years.

Negative Trigger: Negative rating actions are more likely to
coincide with the company's inability to reduce adjusted leverage
below 6.0x (4.5x on an unadjusted basis) in the 12-18 months
following the acquisitions of Carmike Cinemas and Odeon & UCI, or
the adoption of a more aggressive financial policy, and/or
rent-adjusted interest coverage declines below 1.5x-1.75x.

In addition, meaningful, operational deterioration that may include
sustained declines in attendance and/or per-guest concession
spending or other change in capital allocation that delays the
company's planned leverage reduction may also pressure the
ratings.

LIQUIDITY

AMC's liquidity is supported by $93 million of cash on hand (as of
June 2016) and $137 million availability on its revolving credit
facility, which is sufficient to cover minimal amortization
payments on its term loan.

FULL LIST OF RATING ACTIONS

Fitch has maintained the Rating Watch Negative on the following
ratings:

   AMC Entertainment Holdings, Inc.

   -- Long-Term IDR 'B+';

   -- Senior secured credit facilities 'BB+/RR1';

   -- Senior subordinated notes 'B-/RR6'.

Fitch has assigned the following ratings, with a Negative Rating
Watch:
  
   AMC Entertainment Holdings, Inc.

   -- Senior Secured Term Loan B at 'BB+/RR1';

   -- Senior subordinated notes at 'B-/RR6'.




ASP CHROMAFLO: Moody's Assigns B3 Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service assigned a B3 corporate family rating and
B3-PD probability of default rating to ASP Chromaflo Holdings II
LP. Moody's also assigned a B2 rating to the company's first lien
secured credit facilities and a Caa2 rating to the second lien term
loan. The proceeds of the debt issuance together with an equity
contribution will be used to fund the acquisition of Chromaflo by
American Securities LLC from Arsenal Capital Partners. Upon
completion of the transaction and repayment of previously issued
debt, Moody's will withdraw ratings on Chromaflo Acquisition
Company LP and Chromaflo Technologies Corp.

Assignments:

   Issuer: ASP Chromaflo Holdings II, LP

   -- Corporate Family Rating, assigned B3

   -- Probability of Default Rating, assigned B3-PD

   -- The outlook is stable

   Issuer: ASP Chromaflo Intermediate Holdings, Inc.

   -- $50 million Senior Secured Revolving Credit Facility,
      assigned B2 (LGD3)

   -- $150 million Senior Secured First Lien Term Loan, assigned
      B2 (LGD3)

   -- $135 million Senior Secured Second Lien Term Loan, assigned
      Caa2 (LGD5)

   Issuer: ASP Chromaflo Dutch I B.V.

   -- $195 million Senior Secured First Lien Term Loan, assigned
      B2 (LGD3)

   Issuer: Chromaflo Acquisition Company LP

   -- Corporate Family Rating, B3 to be withdrawn at close of
      transaction

   -- Probability of Default Rating, B3-PD to be withdrawn at
      close of transaction

   Issuer: Chromaflo Technologies Corp.

   -- All Senior Secured Bank Credit Facilities to be withdrawn at
close of transaction

RATINGS RATIONALE

The B3 corporate family rating reflects the company's high
financial leverage and limited scale and product diversity in a
competitive colorants industry. Chromaflo's debt exceeds it
revenues by almost 1.5 times and its leverage (debt/EBITDA as
adjusted by Moody's) is high at 6.3 times in the twelve months
ended June 30, 2016, pro forma for the acquisition of the company
by America Securities. The rating is based on the assumption that
Chromaflo will grow earnings and free cash flow and will bring the
leverage below 6 times in 2017. The company generates about 60% of
sales and earnings from the architectural coatings market. Moody's
expects the company to continue to pursue acquisitions to
supplement its organic growth. This strategy entails ongoing event
risk as well as financial and integration risks.

The rating is supported by Chromaflo's diverse customer base,
geographic reach and solid EBITDA margins driven by the specialty
nature of its product offerings. The rating is also supported by
expectations of solid free cash flow generation because of the
asset-light nature of its business.

The stable outlook reflects our expectation that the company will
increase volumes and earnings due to customer wins and increased
penetration into industrial and thermoset markets in Europe and
Asia.

Moody's could upgrade Chromaflo if the company maintains solid
operating performance, generates a sustained Moody's-adjusted
retained cash flow/debt ratio of 8-10%, free cash flow to debt of
4-5% and demonstrates a track record of paying down debt such that
Moody's-adjusted debt/EBITDA ratio falls solidly below 5.5x.

Moody's could downgrade the ratings if Chromaflo's operating
performance, liquidity profile and credit metrics deteriorate.
Furthermore, Moody's would consider downgrading Chromaflo's ratings
if (1) its debt/EBITDA ratio remains sustainably above 6.0x; or (2)
if free cash flow turns negative.

Chromaflo is projected to have good liquidity over the next 12-18
months. Pro forma for the acquisition by American Securities, the
company had no cash on hand, but is expected to have full
availability under its new $50 million revolving facility due in
2021. Interest expense is the highest use of cash, but given high
EBITDA margins and low capex requirements, the company is projected
to generate free cash flow in 2017. However, consistent with their
growth strategy there is a $60 million accordion facility and
excess cash flow may be used to fund subsequent acquisitions. The
new revolver is expected to have a springing first lien leverage
ratio if utilization is at 35% with a cushion of no less than 30%.
In the past the company has used the revolver to fund acquisitions.
There are no near term maturities and annual amortization of 1% per
year or $3.45 million. The term loan includes an excess cash flow
sweep. Effectively all of the assets are encumbered under the
senior secured facilities, leaving few sources of alternative
liquidity.

The B2 rating on the $395 million first lien credit facilities is
one notch above the corporate family rating reflecting their
priority position in the capital structure. The first lien credit
facilities include a $50 million revolver due in 2021, a $150
million term loan due in 2022 issued by ASP Chromaflo Intermediate
Holdings, Inc. (US Borrower) and a $195 million term loan due in
2022 issued by ASP Chromaflo Dutch I B.V. (Dutch Borrower). The US
term loan tranche is secured and guaranteed by the domestic subs
and a 65% pledge in equity of foreign subs. The Dutch tranche is
secured and guaranteed by foreign subs (Canada, Netherlands,
Finland and Australia) and by the US borrower. Brazil, China,
Indian and Mexican subsidiaries are outside of the restricted
group. The guarantor group includes approximately 90% of the assets
and essentially all of EBITDA.

The first lien term loans do not have a collateral sharing
agreement to ensure that they remain pari passu and share equally
in the first lien collateral. These two first lien term loans rely
on a less common ratable participation and assignment mechanism to
ensure that investors can only own and sell proportional amounts of
each term loan, which would equalize their recovery. Initial term
loan lenders will have to sign a separate agreement committing to
selling only proportional amounts of each loan. The agreement among
lenders authorizes the administrative agent to void any assignment,
participation or transfer of loans by initial lenders that is not
done ratably, thus ensuring that all lenders have the same recovery
rate in the event of bankruptcy. The credit agreement is expected
to have similar conditions for subsequent lenders. Both the US and
Dutch term loans will have one CUSIP and will trade as one tranche
in the secondary market. Based on these assumptions, Moody's has
rated both loans pari passu at B2. While the draft documents
currently provide for the loans to trade together on a pro rata
basis, in the even they were separated, we would need to assign
separate ratings on the US term loan and the Dutch term loan, with
the Dutch term loan ranked ahead of the US tranche due to better
expected asset coverage and higher expected recovery.

The ratings are subject to receipt and review of the final
documentation.

The Caa2 rating on the $135 million second lien term loan due in
2023 is two notches below the corporate family rating reflecting
the subordinated lien on the collateral pledged to the US first
lien term loan tranche. The borrower is ASP Chromaflo Intermediate
Holdings, Inc. and the facility is guaranteed on a second priority
senior secured basis by the same guarantors that guarantee the US
first lien term loan tranche and is secured by the same
collateral.

ASP Chromaflo Holdings II, LP (Chromaflo) is a global supplier of
liquid colorant systems for architectural and industrial coatings
and thermoset plastics end markets. Headquartered in Ashtabula,
Ohio, Chromaflo has nine production facilities in the US, Canada,
Finland, the Netherlands, South Africa, Australia and China.
Approximately 37% of the company's revenues are generated from
sales in the Americas, 42% from Europe, and 21% from the
Asia-Pacific region. The company generated revenue of $337 million
and Moody's adjusted EBITDA of $77 million in the twelve months
ended June 30, 2016. Chromaflo is a portfolio company of American
Securities.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.


BAKERCORP INTERNATIONAL: Moody's Affirms Caa1 Corp Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed BakerCorp International, Inc.'s
Corporate Family Rating (CFR) at Caa1 and Probability of Default
Rating (PDR) at Caa1-PD. Moody's also affirmed the ratings on the
company's secured credit facilities at B2, and the rating on its
senior notes at Caa3. The change to negative outlook reflects
expectations for continued revenue and margin pressure as well as
our expectation for leverage to remain high mostly as a result of
the decline in demand from its core oil & gas clients. The
company's Speculative Grade Liquidity Rating was downgraded to
SGL-4 to reflect weak liquidity over the next 12 months.

Moody's took the following rating actions on BakerCorp
International, Inc.:

Ratings affirmed:

   -- Corporate Family Rating, Caa1;

   -- Probability of Default Rating, Caa1-PD;

   -- Senior Secured Bank Credit Facility (Term Loan) due 2020,
      affirmed at B2 (LGD-2 from LGD-3);

   -- Senior Secured Bank Credit Facility (Revolver) due 2018,
      affirmed at B2 (LGD2 from LGD3)

   -- Senior Unsecured Regular Bond/Debenture due 2019, affirmed
      at Caa3 (LGD-5).

Ratings downgraded:

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

The rating outlook is changed to negative.

RATINGS RATIONALE

BakerCorp's Caa1 rating reflects weakened demand for the company's
liquid and solid containment tanks, its high leverage, weak free
cash flow metrics, and small scale. The weak demand has adversely
pressured the company's credit metrics due mostly to its product
concentration in temporary storage tanks. The downturn in oil and
gas that became visible in the company's financials in 2015 is
anticipated to continue into 2017. This downturn has constrained
the company's ability to meaningfully improve its equipment
utilization and expand margins. Our expectation is for continued
weak capital spending by the oil & gas companies, which results in
lower equipment utilization and overall weak performance at
BakerCorp and thus limits deleveraging of its balance sheet.
Moreover, the oversupply of tanks in the market will continue to
pressure prices and margins. Unlike some other rental companies,
the sale of used equipment hasn't been a primary source of funding.
Nevertheless, the used equipment market has softened.

"We believe the high cost to relocate tanks, and their commodity
like nature, makes it difficult for companies to differentiate
themselves in the market," Moody's said. BakerCorp does offer
various specialty tanks, pumps, and filtration equipment with
differentiation in mind. While the company has invested to
diversify geographically by broadening its presence in certain
European markets, the vast majority of its operations are in the
U.S. and under pressure. The company's rating does benefit from its
existing customer relationships and established position as a
provider of liquid and solid containment solutions used in
industrial and other applications.

The SGL-4 liquidity rating reflects our view that BakerCorp has a
weak liquidity profile. "We believe the company's internal sources
of liquidity are sufficient in the near term, characterized by its
$34 million cash on the balance sheet as of July, 2016 with no near
term debt maturities. Still significant capital expenditure levels
have constrained free cash flow generation, and we do not
anticipate free cash flow in 2017 to allow for meaningful
deleveraging. The borrowing capacity under the undrawn revolver is
constrained by its springing covenants. The covenant cushion is
modest, and we believe that a desire to avoid a covenant breach
will limit access," Moody's said. The company is believed to have
weak alternative liquidity because most assets are pledged in
support of the senior secured credit facilities and the value and
marketability of its tanks is currently depressed.

The negative rating outlook reflects Moody's expectation for weak
results in calendar 2017, although with an ongoing focus on expense
reduction and capital conservation. The negative outlook also
reflects our view that liquidity is weak due in part to constrained
borrowing capacity on the revolver. Moody's said, "We anticipate
weak to slightly negative free cash flow in 2017."

The rating or outlook could be downgraded if debt to EBITDA does
not improve and were expected to remain meaningfully above 7.0
times and if negative free cash flow were to result in a
significant use of cash, or if EBITDA to interest expense were to
decrease below 1.6 times and anticipated to remain weak. The
ratings could also be adversely impacted if the company's equipment
utilization does not improve, if growth capital expenditures remain
at high levels relative to operating cash flow or if liquidity were
to weaken.

The rating or outlook could be upgraded if debt to EBITDA were
anticipated to decrease below 6 times on a sustained basis while
EBITDA to interest expense were above 2.0 times. The ability to
achieve a higher rating is linked to the company being able to
successfully execute on delivering and sustaining higher equipment
utilization and pricing.

BakerCorp International, Inc. (BakerCorp), headquartered in Plano,
Texas, is a provider of liquid and solid containment solutions. The
company maintains one of the largest and most diverse liquid and
solid containment rental fleets in the industry with more than
25,000 units, including steel tanks, polyethylene tanks, modular
tanks, roll-off boxes, pumps, pipes, hoses and fittings, filtration
units, tank trailers, berms, and trench shoring equipment. The
company serves over 15 industries. Although its US operations are
by far its largest, it also serves a number of locations in Europe
and Canada. The majority of its revenues come from the rental of
equipment with the balance from services and equipment sales. The
company is controlled by funds advised by Permira Advisors L.L.C.
which acquired it in June 2011. Revenues for the LTM period ended
July 31, 2016 were $274 million.

The principal methodology used in these ratings was Equipment and
Transportation Rental Industry published in December 2014.



BEAR CREEK: Ch. 11 Trustee Hires A.L. Mitchell as Accountant
------------------------------------------------------------
Kelly M. Hagan, the Chapter 11 bankruptcy Trustee of Bear Creek
Partners II, L.L.C., et al., seeks authority from the U.S.
Bankruptcy Court for the Western District of Michigan to employ
A.L. Mitchell & Associates as accountant to the Trustee.

The Trustee requires A.L. Mitchell to:

   A. Accounting services

      -- prepare W-2;

      -- prepare federal and state income tax returns;

      -- provide advice concerning tax and financial related
         matters.

   B. Bookkeeping services

      -- gather and organize the debtor's financial information
         in order to prepare monthly operating reports

      -- review and determine the Debtors' tax liability of the
         estate;

      -- prepare the required tax returns.

A.L. Mitchell will be paid at these hourly rates:

      Andrew L. Mitchell            $175
      Staff/Paraprofessionals       $95

A.L. Mitchell will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Andrew L. Mitchell, member of A.L. Mitchell & Associates, 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,
has no connection with the Debtors, creditors, or any other party
in interest, their respective attorneys or accountants, the U.S.
Trustee, or any person employed in the office of the U.S. Trustee.

A.L. Mitchell can be reached at:

      Andrew L. Mitchell
      A.L. MITCHELL & ASSOCIATES
      641 East Eight Street
      Traverse City, MI 49686
      Tel: (231) 947-1492

                  About Bear Creek Partners II, LLC.

Bear Creek Partners II, L.L.C. and Bear Creek Retail Partners II
LLC filed chapter 11 petitions (Bankr. W.D. Mich. Case Nos.
16-02553 and 16-02554) on May 6, 2016. The Debtors are represented
by  Jay L. Welford, Esq., at Jaffe, Raitt, Heuer & Weiss, PC and
Robert R. Wardrop, Esq., at Wardrop & Wardrop PC.

Each Debtor estimated assets and liabilities at $10 million to $50
million at the time of the filing. Lawyers at Wardrop & Wardrop,
P.C., represent the creditors' committee

Kelly M. Hagan has been named as the Chapter 11 bankruptcy trustee
for the Debtors' estates.


BEAR CREEK: Ch. 11 Trustee Hires Beadle Smith as Counsel
--------------------------------------------------------
Kelly M. Hagan, the Chapter 11 bankruptcy Trustee of Bear Creek
Partners II, L.L.C., et al., seeks authority from the U.S.
Bankruptcy Court for the Western District of Michigan to employ
Beadle Smith, PLC as counsel to the Trustee.

The Trustee requires Beadle Smith to:

   a. take legal action necessary to assist the Trustee in
      administering the jointly administered Chapter 11
      proceeding;

   b. analyze, prosecute and recover any preferential or
      fraudulent transfers, real or personal property, or any
      other assets which are property of the estate pursuant to
      the Bankruptcy Code;

   c. prepare all applications, motions, orders, reports and
      appear at hearings as the Trustee deems necessary to
      effectuate the sale of assets or collection of assets and
      advise the Trustee on matters relating to the
      administration of the estate.

Beadle Smith will be paid at these hourly rates:

     Thomas Beadle           $27
     Kevin M. Smith          $275
     Paralegal               $90

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

Kevin M. Smith, member of Beadle Smith, PLC, 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, has no
connection with the Debtors, creditors, or any other party in
interest, their respective attorneys or accountants, the U.S.
Trustee, or any person employed in the office of the U.S. Trustee.

Beadle Smith can be reached at:

     Kevin M. Smith, Esq.
     BEADLE SMITH, PLC
     445 South Livernois, Suite 305
     Rochester Hills, MI 48307
     Tel: (248) 650-6094
     Fax: (248) 650-6095
     E-mail: ksmith@bbssplc.com

                  About Bear Creek Partners II, LLC.

Bear Creek Partners II, L.L.C. and Bear Creek Retail Partners II
LLC filed chapter 11 petitions (Bankr. W.D. Mich. Case Nos.
16-02553 and 16-02554) on May 6, 2016. The Debtors are represented
by  Jay L. Welford, Esq., at Jaffe, Raitt, Heuer & Weiss, PC and
Robert R. Wardrop, Esq., at Wardrop & Wardrop PC.

Each Debtor estimated assets and liabilities at $10 million to $50
million at the time of the filing. Lawyers at Wardrop & Wardrop,
P.C., represent the creditors' committee.

Kelly M. Hagan has been named as the Chapter 11 bankruptcy trustee
for the Debtors' estates.



BIOCORRX INC: Sells $220,000 Convertible Promissory Notes
---------------------------------------------------------
BioCorRx Inc. sold to each of Lucas Hoppel and Vista Capital
Investments, LLC an 8% Convertible Promissory Note in the principal
amount of $110,000 for a total of $220,000 in principal.

The Notes were issued pursuant to the terms and conditions set
forth in each Securities Purchase Agreement between the Company and
each Investor.  Although the Transaction Documents are dated as of
Oct. 20, 2016, the Note Transactions, including the receipt of the
$200,000 of total consideration, closed on Oct. 21, 2016.

In addition to the Note Transactions, by Oct. 28, 2016, the Company
will issue 400,000 shares of the Company's restricted common stock
to each Investor for a total of 800,000 shares.  The Inducement
Shares will be increased by 150,000 shares for each Investor if the
closing price of the Company's common stock falls below $0.025
prior to the Company paying back the Notes or the complete
conversion of the Notes into shares of the Company's common stock.

The Notes mature on April 21, 2017.  The Maturity Date is
extendable at the option of each Investor as long as no event of
default has occurred.  Under the terms of the Notes, each Investors
may, on or after the Maturity Date, convert the unpaid principal of
their Note into shares of the Company's common stock. The
conversion price is 60% of the lowest trade that occurs during the
25 trading days immediately preceding the conversion date.

The Investors have agreed to restrict their ability to convert the
Notes and receive shares of common stock such that the number of
shares of common stock held by each Investor and its affiliates in
the aggregate after such conversion or exercise does not exceed
4.99% of the then issued and outstanding shares of common stock. If
the Company's market capitalization falls below $2.5 million, the
Ownership Limitation increases to 9.99%.  For the sake of clarity,
there is a separate Ownership Limitation for each Investor.

The Company can prepay the Notes.  To the extent the Company enters
into future financing with more favorable terms (with the exception
of any financings involving BICX Holding Company as announced in
the Company’s current report on Form 8-K on June 21, 2016), the
Investors have the right to participate.

The Notes are long-term debt obligations that are material to the
Company.  The Notes contains certain events of default and, in the
event of default, the Investors may, at their option, consider the
Notes immediately due and payable.

                     About Biocorrx Inc.

Through its wholly owned subsidiary, BioCorRx Inc. distributes and
licenses the BioCorRxO Recovery Program for alcoholism and opioid
addiction treatment headquartered in Santa Ana, California.  The
Company was established in January 2010 and are currently operating
in Santa Ana, California.  The Company developed the BioCorRxO
Recovery Program for the treatment of alcoholism and opioid
addiction consisting of a Naltrexone implant that is placed under
the skin in the lower abdomen coupled with a counseling/life
coaching program including sessions (16 sessions on average but not
limited to) from specialized life coaches and/or counselors.

BiocorRx reported a net loss of $4.66 million in 2015 following a
net loss of $3.12 million in 2014.

As of June 30, 2016, BiocorRx had $1.58 million in total assets,
$6.10 million in total liabilities and a total stockholders'
deficit of $4.51 million.

Liggett & Webb, P.A., New York, New York, 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 working capital deficiency
that raises substantial doubt about its ability to continue as a
going concern.


BIOSTAGE INC: First Pecos, Banco Panamericano Offer Financing
-------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, First Pecos LLC, Banco Panamericano, Inc., Leslie
Jabine, and Chip Greenblatt disclosed that they may be deemed to
beneficially own, in the aggregate, 1,077,018 shares of Common
Stock, representing approximately 6.30% of Biostage, Inc. common
stock outstanding.  Pecos holds 547,000 shares of Common Stock or
3.20% of the outstanding Common Stock.  Banco holds 490,018 shares
of Common Stock or 2.86% of the outstanding Common Stock.  Mr.
Greenblatt is the sole manager of Pecos and the sole director of
Banco.  Ms. Jabine holds 40,000 shares of Common Stock or 0.23% of
the outstanding Common Stock.  For purposes of calculating the
percentages of Common Stock owned, the Reporting Persons have
assumed that there were 17,108,968 shares of Common Stock
outstanding as of Aug. 10, 2016 (as reported in the Issuer's Form
10-Q as filed with the Securities and Exchange Commission on
Aug. 11, 2016).

"The Reporting Persons acquired the securities reported herein
solely for investment purposes and not with a view of distribution
under the Securities Act.  On October 20, 2016, Mr. Greenblatt had
a discussion with a representative of the Issuer regarding the
possibility of one or more of the Reporting Persons or their
affiliates providing financing to the Issuer.  The form and terms
of any such financing were not discussed in detail and no
agreements were reached.  The Reporting Persons do not know whether
any agreement regarding potential financing will be reached or
whether any financing will be provided by the Reporting Persons or
their affiliates.  Except as set forth herein, the Reporting
Persons do not have, as of the date of this Schedule 13D, any other
plans or proposals that relate to or would result in any of the
actions or events specified in clauses (a) through (j) of Item 4 of
Schedule 13D.  The Reporting Persons reserve the right to dispose
of all or a portion of their holdings of securities of the Issuer
or to change their intention with respect to any or all of the
matters referred to in this Item 4.

"The Reporting Persons expect to independently evaluate on an
ongoing basis the Issuer's financial condition and prospects and
their interest in, and intentions with respect to, the Issuer and
their investment in the securities of the Issuer, which review may
be based on various factors, including whether various strategic
transactions have occurred or may occur, the Issuer's business and
financial condition, results of operations and prospects, general
economic and industry conditions, the securities markets in general
and those for the Issuer's securities in particular, as well as
other developments and other investment opportunities. Each of the
Reporting Persons reserves the right to change its intentions and
develop plans or proposals at any time, as it deems appropriate.
Each of the Reporting Persons may at any time and from time to
time, in the open market, in privately negotiated transactions or
otherwise, acquire additional securities of the Issuer, including
Common Stock, dispose of all or a portion of the securities of the
Issuer, including the Common Stock, that the Reporting Persons now
own or may hereafter acquire, and/or enter into derivative
transactions with institutional counterparties with respect to the
Issuer's securities.  In addition, the Reporting Persons may engage
in discussions with management, members of the board of directors
of the Issuer, shareholders of the Issuer and other relevant
parties concerning the operations, management, composition of the
Issuer's board of directors and management, ownership, capital
structure, balance sheet management, strategy and future plans of
the Issuer, including the possibility of proposing one of more
acquisitions, business combinations, mergers, asset sales, asset
purchases or other similar transactions involving the Issuer and
other third parties."

First Pecos et al. may be reached through:

     Chip Greenblatt
     330 South Wells St. # 711
     Chicago, IL 60606

They are represented by:

     Jeffrey A. Schumacher
     Reed Smith LLP
     10 South Wacker Dr.
     Chicago, IL 60606

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

                     https://is.gd/txNL6g

                         About Biostage

Biostage, Inc., formerly Harvard Apparatus Regenerative Technology,
Inc., is a biotechnology company engaged in developing
bioengineered organ implants based on its Cellframe technology.  

As of June 30, 2016, Biostage had $9.41 million in total assets,
$1.94 million in total liabilities and $7.47 million in total
stockholders' equity.

Harvard Apparatus reported a net loss of $11.7 million for the year
ended Dec. 31, 2015, compared to a net loss of $11.06 million for
the year ended Dec. 31, 2014.

KPMG LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from operations and will require additional financing to
fund future operations which raise substantial doubt about its
ability to continue as a going concern.


BLUE LIGHT: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Blue Light Capital Corp
        93 Fairlane Road
        Laguna Niguel, CA 92677

Case No.: 16-14461

Chapter 11 Petition Date: October 28, 2016

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Mark S Wallace

Debtor's Counsel: Alan M Lurya, Esq.
                  LAW OFFICES OF ALAN M LURYA
                  18662 MacArthur Blvd #200
                  Irvine, CA 92612
                  Tel: 949-440-3230
                  Fax: 949-440-3231
                  Email: alanlurya@yahoo.com

Total Assets: $8.32 million

Total Liabilities: $1.61 million

The petition was signed by Kris Wismer, president.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-14461.pdf


BLUENRGY GROUP: HLB Mann Judd Raises Going Concern Doubt
--------------------------------------------------------
BlueNRGY Group Limited filed its annual report on Form 20-F,
disclosing a net loss of $9.27 million on $32.08 million of
revenues for the fiscal year ended June 30, 2016, compared with a
net income of $5.70 million on $16.87 million of revenues for the
year ended June 30, 2015.

HLB Mann Judd, in Sydney, Australia, states that the ability of the
Group to continue as a going concern and meet its debts and
commitments as and when they fall due requires that the Group
continues to receive support from existing lenders, raises
additional funds, and monetizes long-term assets to fund the
business.  These uncertainties raise substantial doubt about its
ability to continue as a going concern.

The Company's balance sheet at June 30, 2016, showed $33.68 million
in total assets, $20.78 million in total liabilities, and
stockholders' equity of $12.90 million.

A complete text of the Form 20-F is available for free at:

                       https://is.gd/h4fcKk

BlueNRGY Group Limited is a Sydney, Australia-based corporation
operating in the global renewable energy and energy-efficiency
sectors.  The Company is focused on the downstream implementation,
collection and analysis of performance data, operation and
maintenance of renewable power generation systems and the delivery
of energy-efficient products and services.



BUFFETS LLC: Files Supplemental Application for Padgett Stratemann
------------------------------------------------------------------
Buffets, LLC and its debtor-affiliates filed a supplemental
application to the U.S. Bankruptcy Court for the Western District
of Texas to employ Padgett Stratemann to provide claims
reconciliation services to the Debtors.

The Debtors seek entry of an Order authorizing them to supplement
the scope and terms of Padgett Stratemann's employment to include
additional services. The Debtors wish to utilize Padgett
Stratemann's services in reconciling the Proofs of Claim with
Debtors' accounting records (the "Supplemental Services"). The
Supplemental Services were not contemplated in the Original
Agreement, so Debtors seek Court authorization to retain Padgett
Stratemann for the Supplemental Services.

Padgett Stratemann will be paid at these hourly rates:

       Partner              $415
       Manager              $275
       Senior               $170
       Staff                $150

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

J. Leo Munoz, senior manager at Padgett Stratemann, disclosed in a
court filing that the firm is a "disinterested person" as defined
in section 101(14) of the Bankruptcy Code.

Padgett Stratema can be reached through:

     J. Leo Munoz
     100 NE Loop 410, Suite 1100
     San Antonio, Texas, 78216
     Tel: (210) 253-4630
     E-mail: leo.munoz@padgett-cpa.com

                        About Buffets LLC

Buffets LLC, et al., are one of the largest operators of
buffet-style restaurants in the U.S.  The buffet restaurants,
located in 25 states, principally operate under the names Old
Country  Buffet(R), Country Buffet(R), HomeTown(R) Buffet,
Ryan's(R) and Fire Mountain(R).  These locations primarily offer
self-service buffets with entrees, sides, and desserts for an
all-inclusive price.  In addition, Buffets owns and operates an
10-unit full service, casual dining chain under the name Tahoe
Joe's Famous Steakhouse(R).

Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008
and won confirmation of a reorganization plan in April 2009.  In
January 2012, Buffets again sought Chapter 11 protection and
emerged from bankruptcy in July 2012.

In Aug. 19, 2015, Alamo Ovation, LLC acquired Buffets Restaurants
Holdings, Inc., and as a result of the merger, Buffets operated
over 300 restaurants in 35 states.

Down to 150 restaurants in 25 states after closing unprofitable
locations, Buffets LLC and its affiliated entities sought Chapter
11 protection (Bankr. W.D. Tex. Case No. Lead Case No. 16-50557) in
San Antonio, Texas, on March 7, 2016.  The cases are assigned to
Judge Ronald B. King.

The Debtors have tapped Akerman, LLP as counsel, Bridgepoint
Consulting, LLC as financial advisor and Donlin, Recano & Company
as claims and noticing agent.


BURCON NUTRASCIENCE: Dr. Chan Reports 22.4% Stake as of Oct. 24
---------------------------------------------------------------
Charles Chan Kwok Keung disclosed in an amended Schedule 13D filed
with the Securities and Exchange Commission that as of Oct. 24,
2016, he beneficially owns 8,175,003 common shares, without par
value, of Burcon NutraScience Corporation, which represents 22.4
percent of the shares outstanding.

Dr. Chan is the: (i) Chairman of ITC Corporation Limited, and (ii)
Chairman and a non-executive director of Television Broadcasts
Limited. Dr. Chan is the sole director of Galaxyway Investments
Limited and Chinaview International Limited.

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

                     https://is.gd/pTK95G

                  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.

Burcon NutraScience reported a net loss of C$6.56 million on
C$106,390 of revenue for the year ended March 31, 2016, compared to
a net loss of C$6.57 million on C$105,387 of revenue for the year
ended March 31, 2015.

As of June 30,2016, Burcon had C$5.12 million in total assets,
C$2.45 million in total liabilities and C$2.67 million in
shareholders' equity.

In its Annual Report on Form 20-F for the fiscal year ended March
31, 2016, the Company said that as at March 31, 2016, it had
minimal revenues from its technology, had an accumulated deficit of
$77,550,164 (2015 - $70,980,388). During the year ended March 31,
2016, the Company incurred a loss of $6,569,776 (2015 - $6,579,424;
2014 - $5,961,545) and had negative cash flow from operations of
$4,883,575 (2015 - $4,819,743; 2014 - $4,952,221). The Company has
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 March 31,
2016, the Company had cash and cash equivalents of $2,479,862 (2015
- $2,400,965) and short-term investments of $nil (2015 -
$1,266,600). 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 said its ability to continue as a going concern is
dependent upon the Company raising additional capital. On May 12,
2016, the Company completed a convertible note financing for
$2,000,000, with net proceeds of approximately $1,934,000.
Although the Company expects to receive royalty revenues from its
license and production agreement (Soy Agreement) with Archer
Daniels Midland Company from the sales of CLARISOY(TM), the amount
of royalty revenues cannot be ascertained at this time. Burcon
expects the amount of royalty revenues from the sales of
CLARISOY(TM) will not reach its full potential until such time
production is expanded to one or more full-scale commercial
facilities.


C SWANK ENTERPRISES: Hires Calaiaro Valencik as Counsel
-------------------------------------------------------
C Swank Enterprises, LLC, seeks authority from the U.S. Bankruptcy
Court for the Western District of Pennsylvania to employ Calaiaro
Valencik as counsel to the Debtor.

C Swank Enterprises requires Calaiaro Valencik to:

   a. prepare of the bankruptcy petition and attendance at the
      first meeting of creditors;

   b. represent the Debtor in relation to acceptance or rejection
      of executory contracts;

   c. advise the Debtor with regard to its rights and obligations
      during the Chapter 11 reorganization;

   d. advise the Debtor regarding possible preference actions;

   e. represent the Debtor in relation to any motions to convert
      or dismiss the Chapter 11 case;

   f. represent the Debtor in relation to any motions for relief
      from stay filed by creditors;

   g. prepare the Plan of Reorganization and Disclosure
      Statement;

   h. prepare of any objection to claims in the Chapter 11; and

   i. represent the Debtor in general.

Calaiaro Valencik will be paid at these hourly rates:

     Donald R. Calaiaro         $350
     David Z. Valencik          $300
     Staff Attorney             $250
     Paralegal                  $100

Calaiaro Valencik will be paid a retainer in the amount of $10,000,
plus filing fee of $1,717.

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

Donald R. Calaiaro, Esq., member of Calaiaro Valencik, 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 Debtor and its estates.

Calaiaro Valencik can be reached at:

     Donald R. Calaiaro, Esq.
     CALAIARO VALENCIK
     428 Forbes Avenue, Suite 900
     Pittsburgh, PA 15219-1621
     Tel: (412) 232-0930
     E-mail: dcalaiaro@c-vlaw.com

                       About C Swank Enterprises

Headquartered in Apollo, Pennsylvania, C Swank Enterprises, LLC,
filed for Chapter 11 bankruptcy protection (Bankr. W.D. Pa. Case
No. 16-23451) on Sept. 15, 2016, estimating its assets and
liabilities at between $1 million and $10 million. The petition was
signed by Carol A. Swank, managing member.

Judge Carlota M. Bohm presides over the case.

Donald R. Calaiaro, Esq., at Calaiaro Valencik serves as the
Debtor's bankruptcy counsel.

The Debtor has no unsecured creditor, according to its Chapter 11
petition.


CADIZ INC: Mulls Sale of $40 Million of Securities
--------------------------------------------------
Cadiz Inc. filed a Form S-3 registration statement with the
Securities and Exchange Commission relating to the offer and sale,
in one or more offerings, of up to $40,000,000 in any combination
of debt securities, common stock, preferred stock, warrants,
subscription rights and units.

The Company will provide more specific terms of these securities in
one or more supplements to this prospectus.

The Company's common stock is listed on the Nasdaq Global Market
under the symbol "CDZI".  On Oct. 28, 2016, the closing price of
the Company's common stock as reported by the Nasdaq Global Market
was $7.40 per share.

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

                     https://is.gd/ddJreZ

                          About Cadiz

Cadiz Inc. is a land and water resource development company with
45,000 acres of land in three areas of eastern San Bernardino
County, California.  Virtually all of this land is underlain by
high-quality, naturally recharging groundwater resources, and is
situated in proximity to the Colorado River and the Colorado River
Aqueduct, a major source of imported water for Southern California.
The Company's properties are suitable for various uses, including
large-scale agricultural development, groundwater storage and water
supply projects.  The Company's main objective is to realize the
highest and best use of its land and water resources in an
environmentally responsible way.

Cadiz Inc. reported a net loss and comprehensive loss of $24.01
million in 2015, a net loss and comprehensive loss of $18.88
million in 2014 and a net loss and comprehensive loss of $22.67
million in 2013.

As of June 30, 2016, Cadiz Inc. had $58.12 million in total assets,
$124.83 million in total liabilities and a total stockholders'
deficit of $66.70 million.


CANNASYS INC: Amends Prospectus Over Issuance of 1.1-Mil. Shares
----------------------------------------------------------------
Cannasys, Inc. filed with the Securities and Exchange Commission an
amended Form S-1 registration statement relating to the offer and
sale, from time to time, of up to 1,102,475 shares of the common
stock of CannaSys, Inc., that may be issued pursuant to the equity
purchase agreement that the Company entered into with Kodiak
Capital Group, LLC.

The Company is not selling any shares of common stock in this
offering.  The Company, therefore, will not receive any proceeds
from the sale of the shares by the selling stockholder.  The
Company will, however, receive proceeds from the sale of securities
pursuant to its exercise of the put right under the Purchase
Agreement.

Kodiak Capital is an "underwriter" within the meaning of the
Section 2(a)(11) of the Securities Act of 1933, as amended (the
"Securities Act").

The selling stockholder may offer and sell from time to time common
stock using this prospectus in transactions:

  * on the OTC Markets or otherwise;

  * at market prices, which may vary during the offering period,
    or at negotiated prices; and

  * in ordinary brokerage transactions, in block transactions, in
    privately negotiated transactions, or otherwise.

The selling stockholder will receive all of the proceeds from the
sale of the shares and will pay all underwriting discounts and
selling commissions relating to the sale of the shares.  The
Company has agreed to pay the legal, accounting, printing, and
other expenses related to the registration of the sale of the
shares.

The Company's common stock is quoted on the OTCQB tier of the OTC
Markets under the symbol "MJTK" (MJTKD between October 17 and Nov.
7, 2016).  On Oct. 21, 2016, the last reported sale price of the
Company's common stock was $0.085.

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

                    https://is.gd/sc3nWA

                       About Cannasys

Cannasys, Inc. provides technology services in the ancillary space
of the cannabis industry.  The Company is a technology company and
does not produce, sell, or handle in any manner cannabis products.

As of June 30, 2016, Cannasys had $1.34 million in total assets,
$958,480 in total liabilities and $385,810 in total stockholders'
equity.

The Company reported a net loss of $3.85 million in 2015 following
a net loss of $1.72 million in 2014.

HJ & 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
recurring losses from operations and its total liabilities exceed
its total assets.  This raises substantial doubt about the
Company's ability to continue as a going concern.


CENTURY AUTO: Names Archie Granata as Accountant
------------------------------------------------
Century Auto Body, LLP seeks authorization from the U.S. Bankruptcy
Court for the District of Nevada to employ Archie Granata as
accountant.

The Debtor requires Mr. Granata to prepare monthly operating
reports and to provide the Debtor with income tax preparation
services.

As Mr. Granata is a friend of Anderson Voss, Mr. Granata has agreed
to provide services at no charge.  This application is being filed
for information purposes only.

Mr. Granata 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.

The Bankruptcy Court will hold a hearing on the application on
December 14, 2016 at 9:30 a.m.

Mr. Granata can be reached at:

       Archie Granata, CPA
       1720 S. Arlington Ave.
       Reno, NV 89509
       Tel: (775) 338-1410
       E-mail: ag@reno1.net

                     About Century Auto Body

Century Auto Body, LLP, is in the sole business of providing
automobile body repair.  In May 2016, Century Auto moved from 105
West Wyoming, Las Vegas, Nevada to 1906 South Mojave, Las Vegas,
Nevada.  It has been in business since 2007.  There is no real
property owned by Century Auto.  The Company is owned 100% by
Anderson Voss.

Century Auto Body, LLP, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 16-12210) on April 22,
2016.

The Debtor requested employment of Alan R. Smith, Esq., as its
attorney of record and Matthew L. Johnson, Esq., as its local
counsel on May 19, 2016,

There has been no appointment in this case of a creditor's
committee pursuant to 11 U.S.C. Sec. 1102.

The deadline for filing a proof of claim for all creditors was Aug.
24, 2016, and Oct. 19, 2016 for governmental agencies.


CHC GROUP: Jones Day Representing AG/CO Senior Secured Noteholders
------------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
Angelo, Gordon & Co. and Cross Ocean Partners submitted with the
U.S. Bankruptcy Court for the Northern District of Texas a verified
statement in the Chapter 11 bankruptcy case of CHC Group Ltd., et
al., saying that Jones Day represents the AG/CO
Senior Secured Noteholders.

The AG/CO Senior Secured Noteholders either hold claims or manage
funds and accounts that hold claims against the Debtors' estates
arising on account of the 9.25% Senior Secured Notes due 2020
issued under the Indenture, dated as of Oct. 4, 2010, by and among
CHC Helicopter S.A., as issuer, each of the guarantors named
therein, HSBC Corporate Trustee Company (UK) Limited, as collateral
agent, and the Bank of New York Mellon, as indenture trustee.  

The AG/CO Senior Secured Noteholders as of the Oct. 28, 2016,
include:

                                Disclosable     
                                Economic       Date of Acquisition
                                Interests      by Quarter and Year
                                -----------    -------------------
     Angelo, Gordon & Co.       $65,557,000    3rd quarter of 2016
     245 Park Avenue            of Senior
     New York, New York 10167   Secured Notes   

     Cross Ocean Adviser LLP    $35,000,000    3rd quarter of 2016

     11 Charles II Street       of Senior
     London, England SW1Y 4QU   Secured Notes

In October 2016, the AG/CO Senior Secured Noteholders retained
Jones Day to represent them as counsel in connection with the
restructuring of the Debtors.

As of Oct. 28, Jones Day represents the AG/CO Senior Secured
Noteholders.  Jones Day does not represent or purport to represent
any other person or entities with respect to these Chapter 11
cases.  In addition, as of the date of this Verified Statement, the
AG/CO Senior Secured Noteholders, both collectively and
individually, do not represent or purport to represent any other
entities in connection with these Chapter 11 cases.

Upon information and belief formed after due inquiry, Jones Day
does not hold any disclosable economic interest (as that term is
defined in Bankruptcy Rule 2019(a)(1)) in relation to the Debtors.

Nothing contained in the Verified Statement is intended or will be
construed to constitute: (a) a waiver or release of the rights of
the AG/CO Senior Secured Noteholders to have any final order
entered by, or other exercise of the judicial power of the U.S.
performed by, an Article III court; (b) a waiver or release of the
rights of the AG/CO Senior Secured Noteholders to have any and all
final court orders in any and all non-core matters entered only
after de novo review by a United States District Judge; (c) consent
to the jurisdiction of the Court over any matter; (d) an election
of remedy; (e) a waiver or release of any rights the AG/CO Senior
Secured Noteholders may have to a jury trial; (f) a waiver or
release of the right to move to withdraw the reference with respect
to any matter or proceeding that may be commenced in the chapter 11
cases against or otherwise involving the AG/CO Senior Secured
Noteholders; or (g) a waiver or release of any other rights,
claims, actions, defenses, setoffs or recoupments to which the
AG/CO Senior Secured Noteholders are or may be entitled, in law or
in equity, under any agreement or otherwise, with all such rights,
claims, actions, defenses, setoffs or recoupments being expressly
reserved.

Angelo Gordon is represented by:

     Jonathan M. Fisher, Esq.
     JONES DAY
     2727 North Harwood Street
     Dallas, TX 75201
     Tel: (214) 220-3939
     Fax: (214) 969-5100
     E-mail: jmfisher@jonesday.com

          -- and --

     Bruce Bennett, Esq.
     Sidney P. Levinson, Esq.
     Michael C. Schneidereit, Esq.
     JONES DAY
     555 South Flower Street
     Fiftieth Floor
     Los Angeles, CA 90013-1025
     Tel: (213) 489-3939
     Fax: (213) 243-2539
     E-mail: bbennett@jonesday.com
             slevinson@jonesday.com
             mschneidereit@jonesday.com

          -- and --

     Scott Greenberg, Esq.
     JONES DAY
     250 Vesey Street
     New York, New York 10281
     Tel: (212) 326-3939
     Fax: (212) 755-7306
     E-mail: sgreenberg@jonesday.com

                   About CHC Group Ltd.

Headquartered in Irving, Texas, CHC Group Ltd. is a global
commercial helicopter services company primarily servicing the
offshore oil and gas industry.  CHC maintains bases on six
continents with major operations in the North Sea, Brazil,
Australia, and several locations across Africa, Eastern Europe, and
South East Asia.  CHC maintains a fleet of 230 medium and heavy
helicopters, 67 of which are owned by it and the remainder are
leased from various third-party lessors.

CHC Group Ltd. and 42 of its wholly-owned subsidiaries each filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Tex. Case No. 16-31854) on May 5, 2016.  As of
Jan. 31, 2016, CHG had $2.16 billion in total assets and $2.19
billion in total liabilities.  

The Debtors hired Weil, Gotshal & Manges LLP as counsel, Debevoise
& Plimpton LLP as special aircraft counsel, PJT Partners LP as
investment banker, Seabury Corporate Advisors LLC as financial
advisor, CDG Group, LLC, as restructuring advisor, and Kurtzman
Carson Consultants LLC as claims and noticing agent.

The Office of the U.S. Trustee on May 13, 2016, appointed five
creditors of CHC Group Ltd. to serve on the official committee of
unsecured creditors.

The Creditors Committee's attorneys are Marcus A. Helt, Esq., and
Mark C. Moore, at Gardere Wynne Sewell LLP, and Douglas H. Mannal,
Esq., Gregory A. Horowitz, Esq., and Anupama Yerramalli, Esq., at
Kramer Levin Naftalis & Frankel LLP.


CHINA COMMERCIAL: Yang Jie Holds 16.5% Equity Stake as of Oct. 24
-----------------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Yang Jie disclosed that as of Oct. 24, 2016, he
beneficially owns 2,739,025 shares of common stock, $0.001 Par
Value, of China Commercial Credit, Inc., representing 16.5 percent
of the shares outstanding.

The percentage was calculated on the basis of 16,637,679 shares of
common stock outstanding as of Oct. 21, 2016, based upon
information set forth in the Certified Shareholder List provided by
Vstock Transfer, the transfer agent of the Issuer.  

On Oct. 24, 2016, the Reporting Person acquired 2,439,025
restricted shares of the Issuer in a private transaction pursuant
certain Share Transfer Agreement dated Oct. 12, 2016.

On Oct. 4, 2016, the Reporting Person received 300,000 restricted
shares of the Issuers as consideration for certain advisory
services pursuant to certain Advisory Agreement.

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

                     https://is.gd/GYqybE

              About China Commercial Credit, Inc.

China Commercial Credit, Inc., is engaged in offering financial
services in China.  The Company's operations consist of providing
direct loans, loan guarantees and financial leasing services to
small-to-medium sized businesses (SMEs), farmers and individuals
in the city of Wujiang, Jiangsu Province.

As of June 30, 2016, China Commercial had $21.57 million in total
assets, $19.27 million in total liabilities and $2.29 million in
total shareholders' equity.

China Commercial reported a net loss of $55.83 million in 2015
following a net loss of $23.37 million in 2014.

Marcum Bernstein & Pinchuk LLP, in New York, New York, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has accumulated deficit that raises substantial doubt about
its ability to continue as a going concern.


CHINA FISHERY: Bid for Appointment of Ch. 11 Trustee Granted
------------------------------------------------------------
Judge James L. Garrity of the United States Bankruptcy Court for
the Southern District of New York granted the motion for the
appointment of a Chapter 11 Trustee for China Fishery Group Limited
(Cayman), and its debtor affiliates.

The motion was filed by Cooperatieve Rabobank U.A., Standard
Chartered Bank (Hong Kong) Limited and DBS Bank (Hong Kong),
Limited, seeking the appointment of a Chapter 11 trustee pursuant
to section 1104(a)(2) of the Bankruptcy Code.  The motion was
joined by Bank of America, N.A., Malayan Banking Berhad, Hong Kong
Branch, the Insolvency Administrator of the Pickenpack Group, and
the Senior Noteholders Committee.

The motion was opposed by the Debtors, who were joined by the
Peruvian Opcos (defined below), certain of the equity holders of
Debtor N.S. Hong, an Informal Steering Committee of bondholders of
Pacific Andes Resources Development Limited (PARD), a non-Debtor
that is subject to its own insolvency proceeding in Singapore, and
certain bank creditors at different levels of the Debtors' capital
structure.

The Debtors comprise a small part of the Pacific Andes Group of
companies that collectively constitute the world's 12th largest
fishing company.  Members of the Ng Family, through Debtor N.S.
Hong, control the group's operations.  The Debtors consist
principally of holding companies and defunct, non-operating
companies.  None have assets in the United States except for their
interests in retainers paid to their United States advisors.
Whatever value they have is derived from their mostly indirect
interests in three Peruvian operating companies – CFG Investments
S.A.C. (CFGI), Corporacion Pesquera Inca S.A.C. (Copeinca), and
Sustainable Fishing Resources S.A.C. (SFR, and together with CFGI
and Copeinca, the "Peruvian Opcos").  Those entities operate the
Pacific Andes Group's anchovy fishing business and together control
a significant percentage of the anchovy fishing quotas fixed by the
Peruvian government.  They are not Chapter 11 debtors, but are the
subject of involuntary insolvency proceedings filed against them in
Peru (the "Peruvian Insolvency Proceedings"), at their behest, by
three "friendly" local creditors.  The putative "foreign
representative" of the Peruvian Opcos has filed petitions for
recognition of those proceedings under Chapter 15 of the Bankruptcy
Code on their behalves.

The Chapter 11 cases, PARD's voluntary insolvency proceeding in
Singapore, and the Peruvian Involuntary Proceedings were commenced
simultaneously in violation of certain deeds of undertaking entered
into pre-petition by, among others, certain of the Debtors, the
Movants and the Hong Kong and Shanghai Banking Corporation
("HSBC"), and, ultimately, to block an agreed sale of the Peruvian
Opcos' business.

The Movants sought the appointment of a Chapter 11 trustee for the
Debtors under section 1104(a)(2) of the Bankruptcy Code for a
variety of reasons, the most pressing of which is to cause the
Peruvian Opcos to challenge those insolvency proceedings.  In
substance, they contended that the trustee should cause the
Peruvian Opcos to contest the involuntary petitions by, among other
things, exercising their rights under Peruvian law to satisfy the
claims of the petitioning creditors.  The Movants maintained that
after those proceedings are dismissed, the trustee should cause the
Debtors to sell the Peruvian business, pay off the creditors of the
Peruvian Opcos, and distribute the net proceeds from the sale to
the Debtors' creditors and shareholders in accordance with their
rights and priorities.  Thus, while the Debtors are advocating a
"wait and see" approach, with the value of the Peruvian Opcos to be
realized and distributed through the Peruvian Insolvency
Proceedings, the Movants, through their motion, sought, among other
things, to obtain the benefit of their pre-petition bargain with
the Debtors.

Based upon his review of the voluminous record made in connection
with the motion, Judge Garrity found that in balancing the
advantages and disadvantages to appointing a trustee, the Movants
have established by clear and convincing evidence that it is in the
best interest of the Debtors' estate and creditors that a trustee
be appointed.

Judge Garrity found that the Movants have shown that they have lost
all confidence in the Debtors' management for a number of good
reasons, and that this lack of confidence in management is both
justified and understandable.

Further, Judge Garrity also found that the Debtors have not
articulated any course of action, any time frame for implementing a
reorganization strategy, or any back-up plans if the Peruvian
business does not improve.  Based upon the record of the motion,
the judge concluded that it is clear that the Debtors' prospects
for rehabilitation are problematic, if not dim.

Judge Garrity also found that the Debtors, their estates, creditors
and equity holders will substantially benefit from the appointment
of a trustee.  The judge explained that, contrary to Debtors'
contention, such an appointment is not merely prophylactic but is
essential to facilitate the Debtors' reorganization.  Although
Judge Garrity was mindful of the potential expense associated with
the appointment of a trustee, the judge found that the benefits to
be realized by the Debtors, their estates, creditors and equity
holders from the appointment of a trustee will outstrip the costs
associated with it.

The United States Trustee was thus directed to appoint a Chapter 11
trustee for Debtor CFG Peru Singapore, the 100% direct and indirect
owner of the Peruvian Opcos, pursuant to section 1104(d)(2) of the
Bankruptcy Code, and to seek approval of such appointment in
accordance with Rule 2007 of the Federal Rules of Bankruptcy
Procedure.

A full-text copy of Judge Garrity's October 28, 2016 order is
available at http://bankrupt.com/misc/nysb16-11895-203.pdf

Debtors were represented by:

          Howard B. Kleinberg, Esq.
          Edward J. LoBello, Esq.
          Jil Mazer-Marino, Esq.
          MEYER, SUOZZI, ENGLISH & KLEIN, PC
          990 Stewart Avenue
          Garden City, NY 11530
          Tel: (516)741-6565
          Fax: (516)741-6706
          Email: mantongiovanni@msek.com
                 hkleinberg@msek.com
                 jmazermarino@msek.com

            -- and --

          Paul F. Millus, Esq.
          Thomas R. Slome, Esq.
          Daniel B. Rinali, Esq.
          MEYER, SUOZZI, ENGLISH & KLEIN, PC
          1350 Broadway, Suite 501
          New York, NY 10018
          Tel: (212)239-4999
          Fax: (212)239-1311
          Email: pmillus@msek.com
                 tslome@msek.com
                 drinaldi@msek.com

CFG Investment, S.A.C., Corporacion Pesquera Inca S.A.C. and
Sustainable Fishing Resources S.A.C. are represented by:

          James S. Carr, Esq.
          Jason R. Adams, Esq.
          William Gyves, Esq.
          KELLEY DRYE & WARREN LLP
          101 Park Avenue
          New York, NY 10178
          Tel: (212)808-7800
          Fax: (212)808-7897
          Email: jcarr@kelleydrye.com
                 jadams@kelleydrye.com
                 wgyves@kelleydrye.com

Equity Holders of Debtor N.S. Hong Investments (BVI) Limited is
represented by:

          Gerald C. Bender, Esq.
          Paul Kizel, Esq.
          Keara M. Waldron, Esq.
          LOWENSTEIN SANDLER LLP
          1251 Avenue of the Americas
          New York, NY 10020
          Tel: (212)262-6700
          Fax: (212)262-7402
          Email: gbender@lowenstein.com
                 pkizel@lowenstein.com
                 kwaldron@lowenstein.com

Club Lenders are represented by:

          R. Craig Martin, Esq.
          Mordechai Y. Sutton, Esq.
          DLA PIPER LLP (US)
          1251 Avenue of the Americas
          New York, NY 10020
          Tel: (212)335-4500
          Fax: (212)335-4501
          Email: craig.martin@dlapiper.com
                 mordechai.sutton@dlapiper.com

            -- and --

          Richard A. Chesley, Esq.
          John K. Lyons, Esq.
          Jeffrey Torosian, Esq.
          DLA PIPER LLP (US)
          203 North LaSalle Street
          Suite 1900
          Chicago, IL 60601
          Tel: (312)368-4000
          Fax: (312)236-7516
          Email: richard.chesley@dlapiper.com
                 john.lyons@dlapiper.com
                 jeffrey.torosian@dlapiper.com

Bank of America, N.A. is represented by:

          Lee S. Attanasio, Esq.
          John G. Hutchinson, Esq.
          Andrew P. Propps, Esq.
          SIDLEY AUSTIN LLP
          787 Seventh Avenue
          New York, NY 10019
          Tel: (212)839-5300
          Fax: (212)839-5599
          Email: lattanasio@sidley.com
                 jhutchinson@sidley.com
                 apropps@sidley.com
          

                About China Fishery Group Limited

China Fishery Group Limited (Cayman), et al., along with certain
non-debtor affiliated entities, are part of a business group
known as the Pacific Andes Group, which is the 12th largest
seafood company in the world and one of the world's foremost
vertically integrated seafood companies.  Hong Kong based-The
Pacific Andes Group provides seafood products to leading global
wholesalers, processors and food service companies and has
operations across the seafood value chain.

China Fishery Group Limited (Cayman) and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y. Case No. 16-11895) on June 30, 2016.  The petition was
signed by Ng Puay Yee, chief executive officer.

The case is assigned to Judge James L. Garrity Jr.

At the time of the filing, the Debtor estimated its assets at
$500 million to $1 billion and debts at $10 million to $50
million.

Howard B. Kleinberg, Esq., Edward J. LoBello, Esq. and Jil
Mazer-Marino, Esq. of Meyer, Suozzi, English & Klein, P.C. serve
as legal counsel.  The Debtor has tapped Goldin Associates, LLC,
as financial advisor and RSR Consulting LLC as restructuring
consultant.


CHINA GINSENG: Chairman and Chief Executive Officer Resigns
-----------------------------------------------------------
Mr. Long He tendered his resignation to China Ginseng Holdings,
Inc. as the Company's chairman, director and chief executive
officer, effective Oct. 28, 2016.  Mr. He's resignation did not
result from any disagreement regarding any matter related to the
Company's operations, policies or practices.

On the same day, Mr. Yuxiang Zhang tendered his resignation to the
Company as the director effective immediately.  Mr. Zhang's
resignation did not result from any disagreement regarding any
matter related to the Company's operations, policies or practices.

On the same day, the Company's Board of Directors appointed Mr.
Jiankun Song as the Company's chairman and chief executive officer.
Mr. Song has been a director of the Company since 2005.

There are no family relationships between Mr. Song and any other
employees or members of the board of directors of the Company.

There are no related party transactions with regard to Mr. Song
reportable under Item 404(a) of Regulation S-K.

The Company is currently negotiating the terms of Mr. Song's
employment agreement, and will file a copy of the agreement when it
becomes available.   

                     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 March 31, 2016, China Ginseng had $8.66 million in total
assets, $21.40 million in total liabilities and a total
stockholders' deficit of $12.73 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.


CIRCLE Z: U.S. Trustee Forms Two-Member Committee
-------------------------------------------------
U.S. Trustee William T. Neary on Oct. 27 appointed two creditors of
Circle Z Pressure Pumping, LLC, to serve on the official committee
of unsecured creditors.

The committee members are:

     (1) Peter Fruge –Interim Chairman
         JFP Services, LLC
         P.O.Box 81162
         Lafayette, La. 70598
         Tel: (337) 234-5558
         E-mail: pfruge@taylors-international.com

     (2) Glenn Ellis
         Clear River America Industries, Inc.
         12818 Murphy Rd
         Stafford, TX 77477
         Tel: (281) 460-8140
         E-mail: Info@Clearriveramerica.com

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 Cicle Z Pressure Pumping

Circle Z Pressure Pumping, LLC, filed a chapter 11 petition
(Bankr.
E.D. Tex. Case No. 16-60633) on Oct. 11, 2016.  The petition was
signed by David Powell, member.  The Debtor is represented by
Michael E. Gazette, Esq., at the Law Offices of Michael E.
Gazette.
The Debtor estimated assets and debt of $10 million to $50 million
at the time of the filing.

The Debtor was originally formed in Texas in 2009.  Its corporate
headquarters and home office is located in Longview, Panola
County,
Texas.  The Debtor's managing member, David Powell, has been with
the Debtor since its formed.  The Debtor's business is exclusively
in the oil and gas industry rendering services in the hydraulic
fracturing of formations to enhance the recovery of oil and gas.


CLASSIC COMMUNITIES: Hires Marcus & Millichap as Broker
-------------------------------------------------------
Classic Communities Corporation seeks authorization from the U.S.
Bankruptcy Court for the Middle District of Pennsylvania to employ
Marcus & Millichap Real Estate Investment Services as real estate
broker.

The Debtor requires Marcus & Millichap to sell the following real
property:

   (a) 325, 327, 329, 331, 333, 335, 337 and 339 Briar Ridge   
       Circle, East Pennsboro, Cumberland County ("Locust Ridge");

   (b) Lots 79, 80, 85, 86, 89 and 90 in Phase I, The Village at
       North Ridge ("North Ridge"); and

   (c) One lot located in The Woods at Waterford ("Waterford").

The Debtor authorizes Marcus & Millichap to offer the properties
for sale at a purchase price of:

   (a) Locust Ridge: $35,000 per lot or $280,000;

   (b) The Village at North Ridge: $50,000 per lot or $300,000;
       and

   (c) The Woods at Waterford: $425,0000

Marcus & Millichap will charge a commission of 5% of the sale
consideration for any parcel on which a sale closes.

Brenton Baskin of Marcus & Millichap, 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 Debtor and its estate.

Marcus & Millichap can be reached at:

       Brenton Baskin
       MARCUS & MILLICHAP REAL ESTATE
       INVESTMENT SERVICES
       2005 Market St., Suite 1510
       Philadelphia, PA 19103
       Tel: (215) 531-7000

                  About Classic Communities Corp.

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, president.  The Debtor
estimated assets and liabilities in the range of $10 million and
debts of up to $50 million.  Judge Mary D. France is the case
judge.


CLIFFS NATURAL: Appoints Eric Rychel to Board of Directors
----------------------------------------------------------
Cliffs Natural Resources Inc. has appointed Eric M. Rychel to its
Board of Directors, effective Oct. 27, 2016.  Mr. Rychel is
executive vice president, chief financial officer and treasurer of
Aleris Corporation, a privately held company that is a global
leader in aluminum rolled products.  He joined Aleris in 2012 and
presently leads the global finance activities for the organization.
Mr. Rychel will join the Audit Committee of Cliffs Natural
Resources' Board.  With the addition of Eric Rychel, the Cliffs'
Board of Directors is now comprised of ten members, of which nine
are independent directors.

Lourenco Goncalves, Chairman of the Board, president and chief
executive officer of Cliffs Natural Resources stated, "I am honored
that Eric Rychel is now a member of Cliffs' Board.  I have known
and respected Eric for many years, from Investment Banker to
Corporate Executive to an accomplished CFO.  Eric's knowledge and
diverse experience will further strengthen our board’s breadth of
talent and expertise."

As Aleris' chief financial officer since 2014, Eric Rychel leads
all of Aleris' capital structure and key initiatives in finance. He
provides leadership for the global finance, investor relations and
IT functions, and also chairs Aleris' risk and benefits committees.
Previously, Mr. Rychel served as vice president and treasurer at
Aleris, with responsibility for treasury, strategy, corporate
development and investor relations, upon joining the company in
2012.  Mr. Rychel was a managing director in the Industrials Group
at Barclays Capital, Inc. between 2010 and 2012, where he initiated
its Metals industry banking effort as the global head of Steel and
Metals corporate finance coverage.  Prior to that, Mr. Rychel was a
managing director at Deutsche Bank Securities, Inc., from 1998 to
2009, where he ran the Metals industry investment banking effort.
Mr. Rychel began his career as an analyst at LSG Advisors, an M&A
boutique and predecessor to SG Cowen.  Mr. Rychel received his
Bachelor of Science in Economics degree from Wharton School of the
University of Pennsylvania.  In addition to Mr. Rychel's
appointment to the Audit Committee, Cliffs announced today other
changes to its Board Committee assignments effectively immediately.
Michael Siegal, who is a current member of Cliffs' Board of
Directors, has been appointed to the Audit Committee.
Additionally, Gabriel Stoliar has stepped down from the Audit
Committee and has been appointed as a member of the Compensation
and Organization Committee of the Board of Directors.

                About Cliffs Natural Resources

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

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

Cliffs Natural reported a net loss attributable to Cliffs common
shareholders of $788 million on $2.01 billion of revenues for the
year ended Dec. 31, 2015, compared to a net loss attributable to
Cliffs common shareholders of $7.27 billion on $3.37 billion of
revenues for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Cliffs Natural had $1.77 billion in total
assets, $3.17 billion in total liabilities and a $1.40 billion
total deficit.

                          *    *     *

As reported by the TCR on April 19, 2016, Standard & Poor's Ratings
Services said it raised its corporate credit rating on
Cleveland-based Cliffs Natural Resources Inc. to 'CCC+' from 'SD'.

As reported by the TCR on Sept. 13, 2016, Moody's Investors Service
upgraded Cliffs Natural Resources Inc.'s Corporate Family Rating
(CFR) and Probability of Default Rating to Caa1 and Caa1-PD
respectively from Ca and Ca-PD respectively.  The upgrade reflects
the improving trends evidenced in Cliffs performance on
strengthened fundamentals in the US steel industry, the dominant
market for Cliffs iron ore pellets, and an improving order book as
well as the successful renegotiation of the contracts with
ArcelorMittal USA LLC, which had expiry dates of late 2016 and
early 2017.


CLIFFS NATURAL: Incurs $27.8 Million Net Loss in Third Quarter
--------------------------------------------------------------
Cliffs Natural Resources Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing  a
net loss of $27.8 million on $553.3 million of revenues from
product sales and services for the three months ended Sept. 30,
2016, compared to net income of $6 million on $593.2 million of
revenues from product sales and services for the same period during
the prior year.

For the nine months ended Sept. 30, 2016, the Company reported net
income of $118.5 million on $1.35 billion of revenues from product
sales and services compared to a net loss of $690.5 million on
$1.53 billion of revenues from product sales and services for the
nine months ended Sept. 30, 2015.

As of Sept. 30, 2016, Cliffs Natural had $1.77 billion in total
assets, $3.17 billion in total liabilities and a $1.40 billion
total deficit.

Cliffs redeemed the entirety of its 2018 Notes during the quarter,
of which $284 million was outstanding.  The total payment to
holders of the 2018 Notes was approximately $304 million, including
accrued and unpaid interest.  The debt extinguishment was funded
primarily from the proceeds of the August 2016 common share
issuance, a $288 million net cash inflow.

Total debt at the end of the third quarter of 2016 was $2.2
billion, approximately $500 million lower than $2.7 billion at the
end of the prior-year quarter.  The year-over-year reduction is
attributable to the exchange offers completed in the first quarter
of 2016 and the redemption of the 2018 Notes in the third quarter
of 2016.  The Company had no borrowings on its asset-based lending
facility at the end of the third quarter of 2016 or 2015.  Cliffs
had net debt of $2.0 billion at the end of the third quarter of
2016, compared to $2.5 billion of net debt3 at the end of the third
quarter of 2015.

For the third quarter of 2016, adjusted EBITDA was $62 million,
compared to $60 million reported in the third quarter of 2015.
Cliffs noted that third-quarter 2016 adjusted EBITDA includes $20
million in expenses related to idled mines, a $12 million non-cash
accrual as a reserve for potential retroactive electric power
surcharges, and a one-time $4 million charge associated with the
new labor contract signing bonus.  Excluding these expenses,
Cliffs' adjusted EBITDA1 would have been $98 million.

Lourenco Goncalves, Cliffs' chairman, president and chief executive
officer, said, "In the third quarter, we reduced our debt by
another $500 million, bringing our net debt down to $2 billion.
Our flawless operational performance, commercial accomplishments
and financial execution during the last two years have earned the
respect of investors and banking institutions, allowing us to
execute in Q3 another important transaction: the early repayment of
the 2018 Notes.  With that, we have eliminated the last obstacle in
our way to better times."  Mr. Goncalves added, "We look forward to
finishing out the year strong in Q4, in what we anticipate to be a
quarter with substantial cash-flow generation."

Cliffs' third-quarter 2016 SG&A expenses were $31 million, of which
$8 million were non-cash.  This represents a 39 percent increase
when compared to the third-quarter 2015 expenses of $22 million.
The increase was driven primarily by a $4 million bonus agreed to
as part of the United Steelworkers (USW) ratified contract signing,
as well as increased external services costs. Cliffs' 2016 net
interest expense during the third quarter was $49 million, a 21
percent decrease when compared to a third-quarter 2015 expense of
$62 million.  The Company noted that of the $49 million expense,
$40 million was a cash expense and the remainder was non-cash.

Miscellaneous-net expense of $20 million in the third quarter of
2016 included a non-cash expense related to a September order from
FERC supporting retroactive surcharges for power at the Michigan
operations, for which the Company recorded a $12 million charge as
a reserve.  Miscellaneous-net expense also included $8 million in
charges related to the indefinite idle at Empire mine.

Capital expenditures during the quarter were $26 million, compared
to $24 million in the third quarter of 2015.  This was driven
primarily by spending related to the Mustang Project at the United
Taconite mine.

Cliffs also reported depreciation, depletion and amortization of
$27 million in the third quarter of 2016.

Cliffs' full-year 2016 SG&A expenses expectation is $104 million, a
$4 million increase from the previous expectation, primarily driven
by the un-forecasted $4 million USW labor contract signing bonus.

The Company's full-year 2016 interest expense is expected to be
approximately $200 million.  Of the $200 million expectation,
approximately $170 million is considered cash and $30 million is
considered non-cash.

Consolidated full-year 2016 depreciation, depletion and
amortization is expected to be approximately $120 million.

Cliffs is maintaining its full-year 2016 capital expenditures
expectation of $75 million.

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

                   https://is.gd/jIN0pL

              About Cliffs Natural Resources

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

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

Cliffs Natural reported a net loss attributable to Cliffs common
shareholders of $788 million on $2.01 billion of revenues for the
year ended Dec. 31, 2015, compared to a net loss attributable to
Cliffs common shareholders of $7.27 billion on $3.37 billion of
revenues for the year ended Dec. 31, 2014.

                          *    *     *

As reported by the TCR on April 19, 2016, Standard & Poor's Ratings
Services said it raised its corporate credit rating on
Cleveland-based Cliffs Natural Resources Inc. to 'CCC+' from 'SD'.

As reported by the TCR on Sept. 13, 2016, Moody's Investors Service
upgraded Cliffs Natural Resources Inc.'s Corporate Family Rating
(CFR) and Probability of Default Rating to Caa1 and Caa1-PD
respectively from Ca and Ca-PD respectively.  The upgrade reflects
the improving trends evidenced in Cliffs performance on
strengthened fundamentals in the US steel industry, the dominant
market for Cliffs iron ore pellets, and an improving order book as
well as the successful renegotiation of the contracts with
ArcelorMittal USA LLC, which had expiry dates of late 2016 and
early 2017.


COLORADO 2002B: Taps Gray Reed as Counsel
-----------------------------------------
Colorado 2002B Limited Partnership and Colorado 2002C Limited
Partnership seek authorization from the U.S. Bankruptcy Court for
the Northern District of Texas to employ Gray Reed & McGraw, P.C.
as counsel, effective as of September 24, 2016 petition date.

The Debtors require Gray Reed to:

   (a) advise the Debtors concerning their powers and duties as
       debtors in possession in the continued operations of their
       businesses and management of their properties;

   (b) act to help protect, preserve and maximize the value of the

       Debtors' estates;

   (c) prepare all necessary motions, applications, reports, and
       pleadings in connection with the Debtors' chapter 11 cases,

       including preparation and solicitation of a chapter 11 plan

       and disclosure statement and related documents; and  

   (d) perform such other legal services for the Debtors in
       connection with their chapter 11 cases that the Debtors
       determine are necessary and appropriate.

Gray Reed will be paid at these hourly rates:

       Jason S. Brookner, shareholder      $600
       Lydia R. Webb, associate            $325
       Jason M. Brown, associate           $275
       Attorneys                           $225-$850
       Paraprofessionals                   $175-$250

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

In advance of filing, Gray Reed received aggregate payments of
$70,000 for services to be rendered to, and expenses, including
filing fees, incurred and to be incurred on behalf of, the Debtors
from February 2016 through the Petition Date, with the remainder to
be held as a retainer for post-petition services and expense
reimbursement as approved by this Court.  Gray Reed has been paid
$25,940.96 for all services rendered, and expenses incurred,
through the Petition Date, leaving a retainer balance of
$44,059.04.

Jason S. Brookner, shareholder of Gray Reed, 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.

Gray Reed can be reached at:

       Jason S. Brookner, Esq.
       Lydia R. Webb, Esq.
       GRAY REED & McGRAW, P.C.
       1601 Elm Street, Suite 4600
       Dallas, TX 75201
       Tel: (214) 954-4135
       Fax: (214) 953-1332

Colorado 2002B Limited Partnership (Bankr. N.D. Tex. Case No.
16-33743) and Colorado 2002C Limited Partnership (Bankr. N.D. Tex.
Case No. 16-33744) filed separate Chapter 11 petitions on September
24, 2016, and are represented by Jason S. Brookner, Esq., at Gray
Reed & McGraw, P.C.


CONTROL SYSTEMS: Disclosures OK'd; Plan Hearing on Nov. 17
----------------------------------------------------------
The Hon. Joan A. Lloyd of the U.S. Bankruptcy Court for the Western
District of Kentucky has approved Control Systems Design and
Automation, Inc.'s disclosure statement referring to the Debtor's
plan of reorganization.

The Plan confirmation hearing be held on Nov. 17, 2016, at 10:00
a.m. (Central Time).  Objections to the confirmation of the Plan
must be filed by Nov. 10, 2016.

As reported by the Troubled Company Reporter on Oct. 10, 2016, the
Debtor filed with the Court an amended disclosure statement for the
Debtor's plan of reorganization dated Oct. 3, 2016.  Class 3(a) -
Independence Bank: Class 3(a), which consists of the secured claim
of Independence Bank in the amount of $275,915.30 and which
maintains a first lien on the Debtor's account receivables,
inventory, equipment and business assets, will be paid in full in
36 equal monthly installment payments with interest at the rate of
4-1/2% per annum.  

                  About Control Systems Design

Control Systems Design and Automation, Inc., provides electrical
and mechanical engineering services to factories.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W. D. Ky. Case No. 16-10373) on April 20, 2016.  The
petition was signed by Robert Scheidegger, authorized
representative.  

The case is assigned to Judge Joan A. Lloyd.

At the time of the filing, the Debtor disclosed $518,289 in assets
and $2.24 million in liabilities.

Mark H. Flener, Esq., at the Law Office of Mark H. Flener serves a

the Debtor's bankruptcy counsel.


CORPORATE RISK: Moody's Puts Caa2 CFR Under Review for Upgrade
--------------------------------------------------------------
Moody's Investors Service placed the ratings of Corporate Risk
Holdings, LLC under review for upgrade, including its Caa2
Corporate Family Rating (CFR), Caa3-PD Probability of Default
Rating, and the ratings assigned to the company's debt instruments.
The review follows Corporate Risk's recent announcement that it is
selling its eDiscovery and data solutions business, Kroll Ontrack,
to LDiscovery, LLC, a technology enabled eDiscovery services
provider in an all-cash transaction valued at approximately $410
million. The proposed transaction, which Moody's expects to be
completed by December 2016, will allow Corporate Risk to reduce its
debt burden, improve its credit metrics and strengthen its
liquidity profile while turning its focus toward a high margin
pre-employment screening business and Kroll advisory with better
growth prospects.

Moody's took the following rating actions on Corporate Risk
Holdings, LLC:

Ratings placed under review for upgrade:

   -- Corporate Family Rating at Caa2

   -- Probability of Default Rating at Caa3-PD

   -- $60 million senior secured first out revolving credit
      facility due 2018 at B1 (LGD1)

   -- $245 million senior secured first lien term loan due 2018 at

      Caa1 (LGD2)

   -- $744 million senior secured first lien notes due 2019 at
      Caa1 (LGD2)

   -- $96 million senior secured second lien PIK notes due 2020 at

      Ca (LGD5)

RATINGS RATIONALE

The review for upgrade reflects Moody's view that expected cash
proceeds from the pending asset sale could diminish concerns
regarding the company's weak liquidity and the sustainability of
its capital structure given its very high debt leverage. While this
is a transformational transaction for Corporate Risk, many
specifics about the transaction and remaining businesses have not
yet been determined, including use of proceeds. LTM revenues will
decline by approximately $190 million, but pro forma credit metrics
are expected to improve following the divestiture if all or a
portion of sales proceeds are used to repay debt. Moody's will
evaluate the business profile and strength of the remaining
businesses, current and projected operating performance levels,
capital and corporate cost structures going forward, and the
company's plans to refinance outstanding debt obligations due in
2018-2020.

The principal methodology used in these ratings was "Business and
Consumer Service Industry" published in October 2016.

Corporate Risk provides pre-employment background screening for
commercial customers through its HireRight subsidiary; and
technology-driven legal services and software for data management
through Kroll Ontrack; and investigative, analytic, consulting, due
diligence, cyber and security services through its Kroll segment.
Post-bankruptcy emergence, the company's common stock ownership is
allocated to pre-existing debt holders. Annual revenues were
approximately $787 million as of June 30, 2016.




COSI INC: Creditors' Panel Hires Nixon Peabody as Counsel
---------------------------------------------------------
The Official Committee of Unsecured Creditors of Cosi, Inc., et
al., seeks authorization from the U.S. Bankruptcy Court for the
District of Massachusetts to retain Nixon Peabody LLP as counsel to
the Committee.

Cosi, Inc.requires Nixon Peabody to:

   a. consult with the Committee, the Debtors, and the U.S.
      Trustee concerning the administration of the chapter 11
      cases;

   b. review, analyze, and respond to pleadings filed with the
      bankruptcy Court by the Debtors and other parties in
      interest and to participate at hearings on such pleadings;

   c. investigate the acts, conduct, assets, liabilities, and
      financial condition of the Debtors, the operation of the
      Debtors' businesses, and any matters relevant to the
      chapter 11 cases, to the extent required by the Committee;

   d. take all necessary action to protect the rights and
      interests of the Committee, including, but not limited to,
      negotiations and preparation of documents relating to any
      plan of reorganization and disclosure statement;

   e. represent the Committee in connection with the exercise of
      its powers and duties under the Bankruptcy Code and in
      connection with the chapter 11 cases; and

   f. perform all other necessary legal services in connection
      with the chapter 11 cases.

Nixon Peabody will be paid at these hourly rates:

     Lee Harrington, Partner                  $550
     Christopher M. Desiderio, Counsel        $525
     Christopher J. Fong, Associate           $500

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

Lee Harrington, member of Nixon Peabody 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, and the firm: a)
is not a creditor, equity security holder, or insider of the
Debtor; b) is not and was not, within 2 years before the date of
the filing of the petition, a director, officer, or employee of
Debtor; and c) does not have an interest materially adverse to the
interest of the estate or of any class of creditors or equity
security holders, by reason of any direct or indirect relationship
to, connection with, or interest in, the Debtor, for any other
reason.

Nixon Peabody can be reached at:

     Lee Harrington, Esq.
     NIXON PEABODY LLP
     100 Summer Street
     Boston, MA 02110-2131
     Tel: (617) 345-1000
     Fax: (617) 345-1300

                      About Cosi, Inc.

Cosi -- http://www.getcosi.com/-- is an international fast casual
restaurant company.  There are currently 45 Company-owned and 31
franchise restaurants operating in fourteen states, the District of
Columbia, Costa Rica and the United Arab Emirates.

Cosi, Inc. and its affiliated Debtors filed chapter 11 petitions
(Bankr. D. Mass. Case No. 16-13704-MSH) on Sept. 28, 2016. The
petitions were signed by Patrick Bennett, interim chief executive
officer.

The Hon. Melvin S. Hoffman presides over the case.

The Debtors tapped Joseph H. Baldiga, Esq. and Paul W. Carey, Esq.,
at Mirick, O'Connell, DeMallie & Lougee, LLP, as counsel; O'Connor
Group, Inc., as financial consultant; and Randy Kominsky of
Alliance for Financial Growth, Inc. as CRO.

In its petition, Cosi estimated $31.24 million in assets and $19.83
million in liabilities.

The U.S. Trustee appointed an official committee of unsecured
creditors. Members of the Committee are Robert J. Dourney, Honor S.
Heath of NStar Electric Company and Paul Filtzer of SRI EIGHT 399
Boylston.



CRAIG SHERMAN MILLER: Unsecureds To Recoup 13% Under Plan
---------------------------------------------------------
Craig Sherman Miller and Brenda Joyce Miller filed with the U.S.
Bankruptcy Court for the Eastern District of Michigan a combined
plan of reorganization and disclosure statement.

Under the Plan, Class VIII, which will consist of the claims of the
non-priority unsecured creditors including the unsecured portion of
all secured creditors as well as those creditors, if any, whose
claims arise from the rejection of executory contracts, will be
impaired.  However, each of the claimants of this class will
receive at least 13% (aggregate amount of $2,700) at 0% interest
over 60 months.  Payments will be made to this class over years 3
through 5 of the Plan, concurrent with Classes I to VII, commencing
on the effective date of the Plan.  To participate in any
distribution, creditors whose claims are not scheduled, or whose
claims are scheduled as disputed, contingent or unliquidated, must
file a proof of claim with the Court on or before the bar dates
established by the Court in these proceedings.  Scheduled unsecured
creditors must also file a claim with the Court to receive a
distribution of their scheduled claim amount.  A creditor in this
class will receive a distribution incident to its allowed unsecured
claims based on monthly payments of $75 commencing year three
through five by Debtors.   

The  Debtors are cognizant of the fact that they need to improve
their financial control and have made the necessary adjustments to
successfully complete their Plan.  Accordingly, Debtors' counsel
and accountant have been working with the Debtors to implement a
sound accounting system so as to better ensure the funding of the
Plan.  In addition, the Debtors reasonably believe that their
future income will generate sufficient funds to satisfy their
obligations under the Plan.  In the event the Debtors require
additional revenue to complete the Plan of Reorganization, it is
reasonably certain that the source of these funds will be generated
from their future income.

To the extent that additional funds are necessary, Debtors, their
shareholders, or their management, on behalf of themselves
personally or on behalf of a corporation to be formed, may provide
the funds to the Reorganized Debtors.  Other sources of cash may be
explored and utilized by the Reorganized Debtors to the extent that
the cash infusions are necessary to meet the obligations of the
Plan.

If necessary, the Reorganized Debtors may, in their sole
discretion, but subject to the terms and conditions any DIP
financing court order and any subsequent loan documents, where
reasonable approval will not be withheld, seek to obtain
refinancing from either a lending institution or from other
personal resources in an effort to satisfy the necessary cash
payments described in this Plan.  In the event that the Reorganized
Debtors obtain financing, it will not obligate the Reorganized
Debtors to accelerate any of the payments or obligations set forth
in this Plan, except as provided in any DIP financing court order
or loan documents.

If the Reorganized Debtors elect to pre-pay any obligation, it will
not incur any pre-payment penalty, any pre-payment penalty
contained in any pre-petition contract, agreement, or document will
be deemed null and void.

The Reorganized Debtors or assignees may enter into a new lease for
their business operations.  

The Combined Plan and Disclosure Statement is available at:

          http://bankrupt.com/misc/mieb15-57370-94.pdf

The Plan was filed by the Debtors' counsel:

     B.O.C. LAW GROUP, P.C.
     C. Jason Cardasis, Esq.
     William R. Orlow, Esq.  
     Corey M. Carpenter, Esq.  
     24100 Woodward Avenue
     Pleasant Ridge, Michigan 48069  
     Tel: (248) 584-2100
     E-mail: jasoncardasis@boclaw.com

Craig Sherman Miller and Brenda Joyce Miller filed for Chapter 13
bankruptcy protection (Bankr. E.D. Mich. Case No. 15-57370).


DOVER DOWNS: Reports Results for Third Quarter
----------------------------------------------
Dover Downs Gaming & Entertainment, Inc., filed with the Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net earnings of $520,000 on $47.11 million of revenues
for the three months ended Sept. 30, 2016, compared to net earnings
of $826,000 on $47.19 million of revenues for the three months
ended Sept. 30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported net
earnings of $1.07 million on $138.05 million of revenues compared
to net earnings of $1.10 million on $136.83 million of revenues for
the same period a year ago.

As of Sept. 30, 2016, Dover Downs had $171.98 million in total
assets, $55.64 million in total liabilities and $116.33 million in
total stockholders' equity.

Gaming revenues of $41,295,000 were down 1.7% compared to the third
quarter of 2015.  The revenue decrease was primarily attributable
to lower slot machine revenue.

Other operating revenues of $5,815,000 were up compared to the
third quarter of 2015 from higher food and beverage and rooms
revenue.  Occupancy levels in the Dover Downs Hotel were 91.4% for
the third quarter of this year.

General and administrative costs were down to $1,228,000 for the
third quarter compared to $1,331,000 last year.

Depreciation and interest expense were lower during the quarter
from limited capital spending and lower average outstanding
borrowings.

Net earnings were $520,000, or $.02 per diluted share compared with
$826,000 or $.03 per diluted share for the third quarter of 2015.

Denis McGlynn, the Company's president and chief executive officer,
stated: "We continue to do our best with what little the State
allows us to retain from gaming revenues and, despite these
limitations, we continue to enjoy excellent customer service
ratings and employee morale.

"We use an outside contractor to measure customer service and our
ratings far exceed our competitors.  Our employees play an enormous
role in our success in this area, and, despite our current
operating environment, we were named a "Top 10 Workplace in
Delaware" for the 8th consecutive year.

"With more competition entering the market, we'll need a
restructured gaming revenue sharing formula to allow us to reinvest
in our property, and we'll be resuming our efforts in this
regard."

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

                     https://is.gd/u9lSYC

                       About Dover Downs

Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE),
Dover Downs Hotel & Casino(R) is a gaming and entertainment resort
destination in the Mid-Atlantic region.  Gaming operations consist
of approximately 2,500 slots and a full complement of table games
including poker.  The AAA-rated Four Diamond hotel is Delaware's
largest with 500 luxurious rooms/suites and amenities including a
full-service spa/salon, concert hall and 41,500 sq. ft. of multi-
use event space.  Visit http://www.doverdowns.com/          

The Company's auditors, KPMG LLP, in Philadelphia, Pennsylvania,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company's credit facility expires on Sept. 30, 2016, and at
present no agreement has been reached to refinance the debt.


DUPONT YARD: Disclosures Okayed; Plan Hearing on Dec. 7
-------------------------------------------------------
The Hon. John T. Laney, III, of the U.S. Bankruptcy Court for the
Middle District of Georgia has approved Dupont Yard, Inc.'s amended
disclosure statement dated Oct. 5, 2016, referring to the Debtor's
plan of reorganization.

A hearing for the consideration of confirmation of the Plan and any
objections to confirmation of the Plan  will be held on Dec. 7,
2016, at 2:00 p.m.

Any objection to confirmation of the Plan must be filed by Dec. 1,
2016.

Ballots will be filed on or before Dec. 1, 2016.

                         About Dupont Yard

Dupont Yard, Inc., filed a Chapter 11 case (Bankr. M.D. Ga. Case
No. 16-70808) on Aug. 1, 2016.  The petition was signed by Steve
Conner, CEO.  The Debtor is represented by Thomas D. Lovett, Esq.,
at Kelley, Lovett, & Blakey, P.C.  The Debtor estimated assets and
debts at $1 million to $10 million at the time of the filing.


ENERGY TRANSFER: Fitch Assigns 'BB' Rating on Jr Subordinated Debt
------------------------------------------------------------------
Fitch Ratings has affirmed Energy Transfer Partners, LP's (ETP)
Long-Term Issuer Default Rating (IDR) and senior unsecured rating
at 'BBB-'. ETP's Rating Outlook is Stable.

ETP announced that it would be acquiring the general partner and
associated incentive distribution rights, as well as 6.3 million
common units and 20 million subordinated units in PennTex Energy
Partners, LP (PTXP). The common/subordinate unit interests in PTXP
represent 65% of the total limited partnership interest in PTXP.
Total consideration paid by ETP will be $640 million, paid with 50%
ETP common units and 50% cash. The cash portion of the purchase
price will be funded with a combination of proceeds from common
units recently issued under ETP's At-The-Market program and
borrowings under its revolving credit facility. Additionally, in
conjunction with the transaction, Energy Transfer Equity, L.P.
(ETE, Long-Term IDR 'BB'/Stable Outlook) has agreed to an incentive
distribution waiver in the amount of $33 million annually that will
run in perpetuity. The transaction is expected to close in the
fourth quarter of 2016, subject to customary closing conditions.

Fitch views the acquisition to be neutral to ETP's credit profile.
PTXP's assets, while limited in size and scale, are complementary
to ETP's asset in the regions which will provide some strategic
benefits to ETP. PTXP's cash flows are supported by long-term
contracts with minimum volume commitments (MVC) which should
provide a reasonable amount of cash flow stability to the asset
base being acquired. Fitch believes that the transaction itself
will not move ETP credit metrics as it has been structured with a
favourable equity component and is expected to be a deleveraging
transaction for ETP.

ETP's Ratings and Outlook reflects the size and scale of ETP's
operations which offer both business line diversity and geographic
diversity, with operations spanning most major domestic production
basins. The affirmation recognizes that ETP's earnings and cash
flow should be relatively stable near term even with continued
price weakness, driven by an expected 90% of 2016 gross margin
derived from fixed-fee contracts.

The ratings consider that ETP's adjusted leverage is currently
high, ending 2015 at roughly 5.3x based on Fitch's calculations.
Fitch calculates ETP's adjusted debt/EBTIDA on a consolidated basis
inclusive of Sunoco Logistics Partners, LP (SXL; 'BBB'/Stable
Outlook) and cash distributions from unconsolidated affiliates.
Fitch expects consolidated adjusted leverage in 2016 to improve
slightly but remain high at roughly 5x at year-end 2016 improving
to below 5x in 2017 and beyond.

Additional concerns include ETP's structural subordination to
subsidiary debt and uncertainties resulting from potential future
structural changes. The PTXP transaction introduces another
publicly traded MLP into ETP and ultimately ETE family increasing
the complexity within ETE's portfolio of partnerships.

KEY RATING DRIVERS

Large Diversified Asset Base: ETP's geographic and business line
diversity provide a solid operating asset base and what has been a
decent platform for growth within most of the major U.S. production
regions. Currently the partnership and its subsidiaries (including
SXL) own and operate roughly 62,500 miles of natural gas, crude and
natural gas liquids (NGL) pipelines, 65 processing plants, treating
plants and fractionators, significant compression, and large-scale,
underground liquid and natural gas storage. EBITDA is pretty evenly
earned between ETP's various business lines approximately as
follows: Interstate Pipelines 20% of EBITDA (at Dec. 31, 2015);
Intrastate Pipelines 10%; Midstream 23%; Liquids transport &
Services 11%; Crude Oil/Refined Products (SXL) 18%: Retail
Marketing 13% (Sunoco LP) and Other (a variety of other business
segments but primarily a 33% ownership in PES, a refinery JV with
Carlyle group) at 5%.

While commodity price exposure and counterparty risks are
relatively limited, some of ETP's businesses are subject to both
counterparty and volumetric risks, namely the midstream business.
The midstream segment is focused on gathering, compression,
treating, blending, and processing in several regions across the
U.S. With commodity prices remaining relatively low and producers
continuing to be mindful of production budgets, production will be
challenged in several of ETP's operating regions, but overall its
geographic diversity and a rising price deck should help limit
volumetric risks. The potential effect on pipeline system
utilization and related re-contracting risk resulting from changing
natural gas supply dynamics is a longer term concern.

Relatively Stable, Consistent Cash Flows: As ETP has grown its
large asset base the percentage of gross margin supported by
fee-based contracts has gradually increased, with the partnership
moving from roughly 76% either fee-based or hedged for 2015 (71%
fee/5% hedged) up to 90% expected for in 2016, due in part to new
projects coming online with heavy fee-based components.
Counterparty exposure is significantly weighted toward
investment-grade names, with roughly 88% of ETP's counterparties
investment-grade. No single customer accounts for more than 10% of
revenue, and its top 20 customers which account for approximately
46% of a total $1.4 billion in unsecured exposure is rated 'BBB' or
better with only $28 million in exposure 'BB+' or lower.

Moderate Financial Flexibility: ETP has largely met all of its
capital needs for 2016 for all of its expected capital spending
(including distributions and growth spending). The incentive
distribution waivers provided to ETP from ETE will provide retained
cash to help fund its capital program. Additionally the pending
sale of a portion of its interest in the Bakken projects and the
non-recourse project funding has helped to raise capital for ETP's
project backlog in a relatively benign way to ETP's balance sheet.
Fitch notes that the Bakken projects are currently subject to
increased regulatory uncertainty and further potential delays.
These uncertainties have the potential to negatively impact ETP's
credit profile, particularly, if the sale of the interest in the
pipeline does not get completed, though Fitch currently views this
potential as remote.

KEY ASSUMPTIONS

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

   -- Growth spending consistent with management guidance.

   -- Growth spending declining in 2017-2019. Proceeds from debt
      and equity issuances will be used to fund spending in a
      balanced manner to protect the balance sheet.

   -- Flat distribution in 2016 with slight to moderate
      distribution growth in outer years.

   -- Interest in PTXP acquired for $640 million, paid with 50%
      ETP common units and 50% cash with the acquisition closing
      before year-end 2016. The cash portion of the purchase price

      funded with a combination of proceeds from common units and
      borrowings under its revolving credit facility.

RATING SENSITIVITIES

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

   -- A material improvement in credit metrics with ETP adjusted
      leverage sustained at below 4.0x on a consolidated basis.

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

   -- Weakening credit metrics with adjusted consolidated leverage

      (Debt/Adj. EBITDA) above 5x on a sustained basis would
      likely lead to a downgrade to 'BB+'; Fitch expects adjusted
      consolidated leverage for 2016 to be at or slightly above
      5.0x, but improve to below 5.0x in 2017 and beyond;

   -- Continued distribution coverage below 1.0x. Fitch expects
      2016 distribution coverage to be at or slightly below 1x
      improving to above 1.0x in 2017 and beyond;

   -- Increasing commodity exposure above 30% could lead to a
      negative rating action if leverage were not appropriately
      decreased to account for increased earnings and cash flow
      volatility.

LIQUIDITY

Liquidity is Adequate.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

   Energy Transfer Partners, LP

   -- Long-Term IDR at 'BBB-';

   -- Senior unsecured rating at 'BBB-';

   -- Short-Term IDR at 'F3';

   -- Commercial Paper at 'F3'.

   -- Junior subordinated notes at 'BB'.

The Ratings Outlook is Stable



ENUMERAL BIOMEDICAL: Launches Tender Offer to Amend Warrants
------------------------------------------------------------
Enumeral Biomedical Holdings, Inc. commenced an issuer tender offer
with respect to certain warrants to purchase common stock of the
Company in order to provide the holders thereof with the
opportunity to amend and exercise their warrants upon the terms and
subject to the conditions set forth in the Company's tender offer
statement on Schedule TO and the related exhibits included therein
filed with the U.S. Securities and Exchange Commission on Oct. 28,
2016.

The Company is offering to amend, upon the terms and subject to the
conditions set forth in the Offering Materials, warrants to
purchase an aggregate of 21,549,510 shares of common stock of the
Company, consisting of outstanding warrants to purchase 21,549,510
shares of the Company's common stock at an exercise price of $2.00
per share, issued to investors participating in the Company's
private placement financing that closed on July 31, 2014.

Pursuant to the Offer to Amend and Exercise, the Original Warrants
of holders who elect to participate in the Offer to Amend and
Exercise will be amended to:

     (i) receive four shares of common stock for each warrant
exercised rather than one,

    (ii) reduce the exercise price to $0.50 per warrant in cash (or
$0.125 per share);

   (iii) shorten the exercise period so that it expires
concurrently with the expiration of the Offer to Amend and Exercise
at 5:00 p.m. (Eastern Time) on Nov. 29, 2016, as such expiration
date may be extended by the Company in its sole discretion, or as
required by applicable law,

    (iv) delete any price-based anti-dilution provisions;

     (v) restrict the ability of the holder of shares issuable upon
exercise of the Amended Warrants to sell, make any short sale of,
loan, grant any option for the purchase of, or otherwise dispose of
any of such shares without the prior written consent of the Company
for a period of one hundred eighty (180) days after the Expiration
Date; and

    (vi) provide that a holder, acting alone or with others, will
agree not to effect any purchases or sales of any securities of the
Company in any "short sales" as defined in Rule 200 promulgated
under Regulation SHO under the Securities Exchange Act of 1934, as
amended, or any type of direct and indirect stock pledges, forward
sale contracts, options, puts, calls, short sales, swaps, "put
equivalent positions" (as defined in Rule 16a-1(h) under the
Exchange Act) or similar arrangements, or sales or other
transactions through non-U.S. broker dealers or foreign regulated
brokers through the expiration of the Lock-Up Period.

The purpose of the Offer to Amend and Exercise is to encourage the
amendment and exercise of the Original Warrants by significantly
reducing both the exercise price and the exercise period of the
Original Warrants and increasing the number of shares of Common
Stock issuable upon exercise from one share to four shares.  This
will provide funds to support the Company's operations, and will
also help streamline the Company's capitalization structure.  The
Company believes that the amendment and exercise of the Original
Warrants will assist the Company's growth plans and position the
Company to attract new investors in potential future financing
transactions.  The Offer to Amend and Exercise will also help the
Company reduce the warrant liability recorded on its financial
statements.

The Company's outstanding warrant liability may be an impediment to
the Company's longer term goals of pursuing future financing
transactions necessary to fund the Company's operations, as well as
the pursuit of a listing of its Common Stock on a national
securities exchange.  Due to the weighted-average anti-dilution
provisions contained in the Original Warrants, the Company is
required to record a derivative liability on its balance sheet each
fiscal quarter for the Original Warrants for so long as they are
not exercised and have not expired.  In addition, the Company is
required to record any change in the value of the Original Warrants
on a quarterly basis.  The warrant liability is primarily affected
by changes in the Company's stock price, which causes the warrant
liability to fluctuate as the market price of the stock rises or
falls.  The warrant liability required to be recorded by the
Company may have the adverse effect of substantially reducing the
Company's stockholders' equity, which in turn limits the Company's
ability to meet certain listing requirements for both the NYSE MKT
and NASDAQ exchanges.

The Company plans to use the net proceeds from the Offer to Amend
and Exercise to fund its ongoing operations and for general working
capital purposes.

As of June 30, 2016, the Company's cash and cash equivalents were
$1,133,819 compared to $3,596,262 at Dec. 31, 2015.  During the six
months ended June 30, 2016, the Company used $2,343,570 of cash in
operations compared to $4,541,089 for the six months ended June 30,
2015.  After taking into account the proceeds raised in the
Company's offering of 12% Senior Secured Promissory Notes in July
2016, the Company believes it has sufficient liquidity to fund
operations through November 2016.  Assuming that 50% of the
Original Warrants are exercised in the Offer to Amend and Exercise
resulting in estimated net proceeds of approximately $4,700,000,
the Company anticipates it would have sufficient liquidity to fund
operations through June 2017.

Holders may elect to participate in the Offer to Amend and Exercise
with respect to some, all or none of their Original Warrants.  If
holders choose not to participate in the Offer to Amend and
Exercise, their Original Warrants will remain in full force and
effect, as originally issued with an exercise price of $2.00 per
share; provided, however, regardless of whether a holder
participates in the Offer to Amend and Exercise, such holder may
nevertheless consent to the amendment to the Original Warrants to
remove the price-based anti-dilution, as provided in the
Anti-Dilution Amendment.

The Company will agree to amend all Original Warrants held by
eligible holders who elect to participate in the Offer to Amend and
Exercise, upon the terms and subject to the conditions of the Offer
to Amend and Exercise and the accompanying Election to Consent,
Participate and Exercise Warrant included with the Offering
Materials.

In addition, the Company has agreed to enter into a Registration
Rights Agreement pursuant to which the Company will file a
Registration Statement on Form S-1 to register the resale of the
shares of Common Stock issued upon exercise of the Amended Warrants
and upon the conversion of the July 2016 Notes, as well as shares
underlying warrants issued to the placement agent in connection
with the conversion of the July 2016 Notes.

Regardless of whether a holder elects to participate in the Offer
to Amend and Exercise, the Company is requesting that the holders
of the Original Warrants nevertheless consent to the amendment to
the Original Warrants to remove the price-based anti-dilution
provisions contained in the outstanding Original Warrants.

Subject to the joint waiver of the Company and the Warrant Agent,
the Offer to Amend and Exercise will not be completed unless the
following conditions are satisfied:

     (i) a minimum of $2,000,000 in gross proceeds is received, and


    (ii) holders of a majority of the Original Warrants agree to
the Anti-Dilution Amendment.  

If the Company receives the Majority Holders' Consent to the
Anti-Dilution Amendment, all of the Original Warrants will be
amended such that the price based anti-dilution provision of the
Original Warrants will no longer apply without regard to whether
such holder provided consent.  In addition to the Original
Warrants, there are outstanding warrants to purchase an aggregate
of 2,000,000 shares of the Company's common stock comprised of
warrants issued to the placement agent and its sub-agents in the
Company's PPO Unit Offering.  The PPO Agent Warrants contain the
same type of price-based weighted-average anti-dilution provisions
as the Original Warrants.  Like the Original Warrants, the terms of
each of the PPO Agent Warrants may be amended with the consent of
the Company and the holders thereof.

In connection with this Offer to Amend and Exercise, the Company
shall seek the consent of the holders of the PPO Agent Warrants in
order to remove the price-based anti-dilution provisions from such
warrants and, in consideration of:

     (i) the majority of such holders granting such consent, and

    (ii) the Warrant Agent acting as such, to amend the PPO Agent
Warrants to reduce the exercise price from $1.00 to $0.125 per
share at the time of and in connection with the completion of the
Offer to Amend and Exercise.

A full-text copy of the Schedule TO is available for free at:

                     https://is.gd/S9Wq2K

Enumeral may use a slide presentation, in whole or in part, from
time to time in presentations to potential partners, investors,
analysts and others.  A copy of the slide presentation is
available for free at https://is.gd/0VdD7o

                        About Enumeral

Enumeral Biomedical Holdings, Inc., is engaged in the discovery of
monoclonal antibodies and other novel biologics for the diagnosis
and treatment of cancer, infectious and inflammatory diseases.  The
Company is currently focused on developing next generation
antibodies that are more precise in their effects on tumor- and
tissue-inflitrating lymphocyte functions via modulation of
regulatory proteins known as checkpoints.

As of June 30, 2016, Enumeral had $3.49 million in total assets,
$3.31 million in total liabilities and $172,770 in total
stockholders' equity.

Enumeral reported net income of $3.29 million in 2015 following a
net loss of $8.17 million in 2014.

Friedman LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing the Company's recurring losses which
raise substantial doubt about its ability to continue as a going
concern.


EVOSHIELD LLC: Involuntary Chapter 11 Case Summary
--------------------------------------------------
Alleged Debtor: EvoShield, LLC
                300 Commerce Boulevard
                Bogart, GA 30622

Case Number: 16-31159

Type of Business: Manufactures protective sports gear for
                  professional and college sports teams  

Involuntary Chapter 11 Petition Date: October 31, 2016

Court: United States Bankruptcy Court
       Middle District of Georgia (Athens)

Petitioners' Counsel: Thomas Raymond Walker, Esq.
                      MCGUIREWOODS LLP
                      1230 Peachtree Street N.E., Suite 2100
                      Atlanta, GA 30309
                      Tel: (404) 443-5705
                      Fax: (404) 443-5599
                      Email: trwalker@mcguirewoods.com

                         - and -

                      Miles H. Cohn, Esq.
                      CRAIN CATON & JAMES, P.C.
                      1401 McKinney Street
                      Houston, TX 77010
                      Tel: 713-752-2323
                      Email: mcohn@craincaton.com

   Petitioners                  Nature of Claim  Claim Amount
   -----------                  ---------------  ------------
Matt Stover                       Money Owed        $65,892
15 Ivy Reach Court
Lakesysville, MD 21030

KB3 Interests, LLC                Money Owed       $328,778
367 Tynebridge Lane
Houston, TX 77024

Juanita Markwalter                Money Owed       $131,511
555 Argonne Drive
Atlanta, GA 30305


EXCELLENT PERFORMANCE: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Excellent Performance
          aka Excellent Properties, Inc.
        4560 Dyer Boulevard
        Riviera Beach, FL 33407

Case No.: 16-24631

Chapter 11 Petition Date: October 30, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Paul G. Hyman, Jr.

Debtor's Counsel: Jeffrey M Siskind, Esq.
                  SISKIND LEGAL GROUP
                  525 S. Flagler Drive #500
                  West Palm Beach, FL 33401
                  Tel: (561) 832-7720
                  Email: jeffsiskind@msn.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Cameron Worth, director/president.

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


FAIRWAY OUTDOOR: Fitch Affirms 'BB-sf' Rating on Class B Notes
--------------------------------------------------------------
Fitch Ratings has affirmed five classes of Fairway Outdoor Funding,
LLC secured billboard revenue notes series 2012-1 and 2015-1.

The pari passu series 2012-1 and 2015-1 notes are secured by a
security interest in all membership interests and limited
partnership interests in the issuer and a guaranty of all of the
issuer's obligations by the issuer's subsidiaries. Additionally,
the notes are secured by a first perfected security interest in all
of the issuer's right, title, and interest in and to the billboard
assets as well as all income, payments and proceeds of any of the
foregoing and all accessions to, substitutions and replacements
for, and rents, profits, products, insurance proceeds, confiscation
and/or condemnation awards, and any other proceeds from the
disposition of any of the foregoing.

Billboard assets include all outdoor display assets owned by the
issuer to advertise products and services, which assets include,
but are not limited to all billboards, digital billboards, permits,
licenses, contracts, ground leases, real property, insurance
proceeds, and structures as well as any amounts generated from the
liquidated assets. As this transaction isolates the assets from the
parent company, the ratings reflect a structured finance analysis
of the cash flows from advertising structures, not an assessment of
the corporate default risk of the ultimate parent. In total,
Fairway operates nearly 20,000 billboard faces in 11 divisions in
15 states.

KEY RATING DRIVERS

Stable Cash Flow and Leverage: Fitch's net cash flow (NCF) on the
pool is $36.2 million, implying a Fitch stressed debt service
coverage ratio (DSCR) of 1.33x. The debt multiple relative to
Fitch's NCF is 7.9x, which equates to a debt yield of 12.7%.

Notes Not Secured by Mortgages: The security interest will be
perfected by a pledge of the membership interests of the issuer and
its subsidiaries and the filing of financing statements under the
Uniform Commercial Code (UCC). The issuer will be filing UCCs on
the permits and the advertising contracts. The security interest in
the equity of the issuer provides the noteholders with the ability
to foreclose on the issuer in an event of default. The lack of
mortgages is mitigated in this transaction as the value of
billboard assets is heavily dependent on non-mortgageable permits
and licenses, which have been secured by UCC filings.

Additional Notes: Fairway will have the ability to issue additional
notes in the future subject to underwriting factors that include,
but are not limited to the following: the issuer pro forma
interest-only DSCR after such issuance is no less than 2.00x, the
issuer pro forma leverage multiple is no greater than 5.1x and 7.1x
for class A and class B notes, respectively, and ratings
confirmation. As Fitch monitors the transaction, the possibility of
upgrades may be unlikely to the provision that allows additional
notes.

RATING SENSITIVITIES

The Stable Outlooks on the series 2012-1 and series 2015-1 notes
reflect the stable performance of the portfolio. Upgrades are
unlikely as the issuer can issue additional pari passu notes;
conversely, downgrades are possible if material economic or
asset-level event causes a decline in the transaction's overall
portfolio-level metrics.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G-10

No third-party due diligence was provided or reviewed in relation
to this rating action

Fitch affirmed the following ratings:

   -- $17 million series 2012-1 Class A-1* at 'A-sf'; Outlook
      Stable;

   -- $155.18 million series 2012-1 class A-2 at 'A-sf'; Outlook
      Stable;

   -- $72 million series 2012-1 class B at 'BB-sf'; Outlook
      Stable;

   -- $32.59 million series 2015-1 class A-2 at 'A-sf'; Outlook
      Stable;

   -- $8.85 million series 2015-1 class B at 'BB-sf'; Outlook
      Stable.

*Variable funding note.



FUNCTION(X) INC: Executives Presented at MicroCap Conference
------------------------------------------------------------
Birame N. Sock, the president and chief operating officer, and
Julie Gerola, the chief marketing officer, of Function(x) Inc.,
joined The MicroCap Conference on Tuesday, Oct. 25, 2016, at 3:00
pm EDT in Philadelphia, PA.

                      About Function(x)Inc.

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

As of June 30, 2016, Function(x) had $23.03 million in total
assets, $48.21 million in total liabilities, $4.94 million in
series C convertible redeemable preferred stock and a $30.11
million total stockholders' deficit.

The Company incurred a net loss of $63.68 million for the year
ended June 30, 2016, compared to a net loss of $78.53 million for
the year ended June 30, 2015.

BDO USA, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2016, citing that the Company has suffered recurring
losses from operations and at June 30, 2016, has a deficiency in
working capital that raise substantial doubt about its ability to
continue as a going concern.

On Oct. 24, 2016, the Company entered into waiver agreements with
Purchasers holding approximately 75% of the principal amount of the
Debentures.  Thereafter, the Company entered into waiver agreements
with Purchasers holding approximately an additional 12% of the
principal amount of the Debentures.  As a result, the Company has
entered into waiver agreements with respect to the initial
amortization payments due under the Debentures with Purchasers
holding approximately 87% of the Debentures.


FUNCTION(X) INC: Obtains Waiver on Debenture Payments
------------------------------------------------------
Function(x) Inc. on July 12, 2016, closed a private placement of
$4,444,444 principal amount of Convertible Debentures and Common
Stock Purchase Warrants.  The Debentures and Warrants were issued
pursuant to a Securities Purchase Agreement, dated July 12, 2016,
between the Company and certain accredited investors within the
meaning of the Securities Act of 1933, as amended.  Upon closing of
the Private Placement, the Company received gross proceeds of
$4,000,000 before placement agent fees and other expenses
associated with the transaction.

On Oct. 12, 2016, the first amortization payment in the amount of
$444,444, plus accrued interest of approximately $113,580 pursuant
to the terms of the Debentures became due and payable to the
Purchasers.  The Company did not make such payment at the time it
was due.

On Oct. 24, 2016, the Company entered into waiver agreements with
Purchasers holding approximately 75% of the principal amount of the
Debentures.  Subsequent to the date of the initial report on Form
8-K, the Company entered into waiver agreements with Purchasers
holding approximately an additional 12% of the principal amount of
the Debentures.  As a result, the Company has now entered into
waiver agreements with respect to the initial amortization payments
due under the Debentures with Purchasers holding approximately 87%
of the Debentures.

Such waivers are not binding on the remaining Purchasers of the
Debentures.  Pursuant to the terms of the Waiver, the Purchasers
have agreed to waive the payment of the amortization payments and
accrued interest due for October 2016 and November 2016.  In
consideration for waiving the payment terms of the Debentures, the
Company has agreed to pay, upon execution of the Waiver, 10% of the
Amortization Amount that became due on Oct. 12, 2016, and has
agreed to pay on November 12, 2016, 10% of the Amortization Amount
due in November 2016.  All other amounts will be due and payable in
accordance with the terms of the Debentures, with the deferred
payments due at maturity.

The Company expects to enter into Waiver Agreements with the
remaining Purchasers as soon as practicable.

Pursuant to the terms of the Debentures, the failure to cure the
non-payment of the amortization amount within three trading days
after the date such payment was due constitutes an Event of
Default.  Following the occurrence of an event of default, among
other things:

     (1) at the Purchaser's election, the outstanding principal
amount of the Debentures, plus accrued but unpaid interest, plus
all interest that would have been earned through the one year
anniversary of the original issue date if such interest has not yet
accrued, liquidated damages and other amounts owed through the date
of acceleration, shall become, immediately due and payable in
either cash or stock pursuant to the terms of the Debentures; and

     (2) the interest rate on the Debentures will increase to the
lesser of 18% or the maximum allowed by law.  

In addition to other remedies available to the Purchasers, the
Company's obligation to repay amounts due under the Debentures is
secured by a first priority security interest in and lien on all of
its assets and property, including its intellectual property, and
such remedies can be exercised by the Purchasers without additional
notice to the Company.

Under the Purchase Agreement, the Company is required to maintain
an available cash balance in its commercial bank account or other
liquid and available funds of $1,000,000.  If the Company is unable
to maintain the Minimum Cash Reserve, then Robert F.X. Sillerman,
the Company's chairman and chief executive officer, has guaranteed
those amounts and has agreed to provide the amounts necessary to
make-up the shortfall in the Minimum Cash Reserve within three
business days up to an aggregate amount not to exceed $6,000,000.
However, the first $5,000,000 of the guaranty shall be provided by
drawing down on the Company's Line of Credit with Sillerman
Investment Company IV, LLC, an affiliate of Mr. Sillerman.  Any
remaining amounts, up to a maximum aggregate of $1,000,000 will be
provided by Mr. Sillerman.

The Company has fallen below the Minimum Cash Reserve for a period
of more than three trading days, which constitutes an Event of
Default under the Debentures.  While the Company is taking steps to
secure liquidity so that it can maintain the Minimum Cash Reserve,
there can be no assurances it will be able to do so.  As a result,
the Purchasers of the Debentures have the remedies.  The Waivers
entered into with some of the Purchasers related to the failure to
pay the amortization amounts do not address the failure to maintain
the Minimum Cash Reserve.

Under the terms of the $3,000,000 Secured Convertible Note issued
in connection with the acquisition of Rant, Inc., as previously
disclosed on a Form 8-K filed July 13, 2016, a default under other
indebtedness owed by the Company constitutes an Event of Default
under the Rant Note.  As a result of such Event of Default, the
holder of the Rant note has the right to accelerate the amounts due
(including any interest and penalties) so that they are immediately
due and payable.  Those amounts are payable under the terms of the
Rant Note from any proceeds from a public offering or by converting
such amount into shares of common stock of the Company.

                    About Function(x)Inc.

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

As of June 30, 2016, Function(x) had $23.03 million in total
assets, $48.21 million in total liabilities, $4.94 million in
series C convertible redeemable preferred stock and a $30.11
million total stockholders' deficit.

The Company incurred a net loss of $63.68 million for the year
ended June 30, 2016, compared to a net loss of $78.53 million for
the year ended June 30, 2015.

BDO USA, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2016, citing that the Company has suffered recurring
losses from operations and at June 30, 2016, has a deficiency in
working capital that raise substantial doubt about its ability to
continue as a going concern.


GARDEN FRESH: Hires Hilco Real Estate as Real Estate Advisor
------------------------------------------------------------
Garden Fresh Restaurant Intermediate Holding, LLC, et al., seek
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Hilco Real Estate, LLC as real estate advisor to
the Debtors.

Garden Fresh requires Hilco Real Estate to:

   a. meet with the Debtors to ascertain the Debtors' goals,
      objectives, and financial parameters;

   b. mutually agree with the Debtors with respect to a strategic
      plan for restructuring, assigning, or terminating the
      Leases (the "Strategy");

   c. on the Debtors' behalf, negotiate the terms of
      restructuring, assignment, and termination agreements with
      third parties and the Landlords under the Leases, in
      accordance with the Strategy;

   d. provide written reports periodically to the Debtors
      regarding the status of such negotiations;

   e. assist the Debtors in closing the pertinent Lease
      restructuring, assignment, and termination agreements; and

   f. on the Debtors' behalf, negotiate the terms of a new lease
      for a new location to be used by the Debtors in its go-
      forward operations.

Hilco Real Estate will be paid as follows:

   (a)  Restructuring. For each Lease that becomes a Restructured
        Lease, Hilco shall earn a fee equal to (i) a base fee of
        $1,500 plus (ii) five percent (5%) of the aggregate
        Restructured Lease Savings.

   (b)  Assignment/Termination. For each Lease that becomes an
        Assigned/Terminated Lease, Hilco shall earn a fee equal
        to the Assigned/Terminated Proceeds multiplied by seven
        percent (7%). For the avoidance of doubt and
        notwithstanding in the Agreement to the contrary, no
        lease that is rejected by the Debtors in a chapter 11
        proceeding shall be treated as an Assigned/Terminated
        Lease or Restructured Lease hereunder, and no fees shall
        be payable hereunder in connection with any lease that is
        rejected.

   (c)  New Location. In connection with any lease transaction
        for a new location for the Debtors, all commissions will
        be sought to be paid by the property owner or developer.
        Hilco expects to be paid a market commission for its work
        on the Debtors' behalf, which shall be no less than four
        percent (4%) of base rent for the term of the lease.
        Accordingly, the Debtors agree that they will not
        Consummate any lease agreement for a new location unless
        Hilco's commission is agreed to in writing with the
        prospective owner/developer during the Term of this
        exclusive relationship; provided, further, in the event
        such owner/developer does not agree to pay Hilco a
        commission of at least four percent (4%), the Debtors
        shall pay such amount (or any deficiency from the agreed
        rate) to Hilco.

Ryan Lawlor, member of Hilco Real Estate, 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.

Hilco Real Estate can be reached at:

     Ryan Lawlor
     HILCO REAL ESTATE, LLC
     5 Revere Drive, Suite 320
     Northbrook, IL 60062
     Tel: (847) 714-1288

                       About Garden Fresh

Founded in 1978 and headquartered in San Diego, CA, Garden Fresh
owns of 123 Souplantation and Sweet Tomatoes restaurants across 15
states. Garden Fresh has 5,500 employees, approximately 5,000 of
whom are employed on an hourly basis.

Garden Fresh Restaurant Intermediate Holding, LLC, and its
affiliates filed chapter 11 petitions (Bankr. D. Del. Case Nos.
16-12174 to 16-12178) on Oct. 3, 2016. The petitions were signed by
John D. Morberg, chief executive officer.

The Debtors have hired Morgan, Lewis & Bockius LLP as general
counsel; Young, Conaway, Stargatt & Taylor, LLP as local counsel;
Piper Jaffray Companies as financial advisor; and Epiq Bankruptcy
Solutions, LLC as claims and noticing agent.

At the time of the filing, Garden Fresh Restaurant Intermediate
Holdings estimated assets and debts at $0 to $50,000.

Andrew R. Vara, Acting U.S. Trustee for Region 3, on Oct. 13
appointed five creditors of Garden Fresh Restaurant Intermediate
Holdings, LLC, et al., to serve on the official committee of
unsecured creditors.


GELTECH SOLUTIONS: Appoints Michael Reger Board Chairman
--------------------------------------------------------
GelTech Solutions, Inc. appointed Michael Reger, its president and
principal shareholder, as a director and Chairman of the Board of
Directors on Oct. 24, 2016.  Not including the advances made, since
Jan. 1, 2015, Mr. Reger has invested a total of $150,000 in the
Company and has been issued 656,174 shares of common stock and
warrants to purchase 326,087 shares of common stock exercisable at
$2.00 per share.

In September 2016, the Company and Mr. Reger entered into the
Second Amendment to a Secured Revolving Convertible Promissory Note
Agreement increasing its credit facility from $5 million to $6
million.  Under the agreement, the Company may, with the prior
approval of Mr. Reger, receive advances under this agreement.  Each
advance bears an annual interest rate of 7.5%, is due Dec. 31,
2020, and is convertible at the rate equal to the closing price of
the Company's common stock on the day prior to the date the parties
agree to the advance.  In addition, the Company will issue Mr.
Reger two-year warrants to purchase shares of common stock at an
exercise price of $2.00 per share.  The number of warrants issued
equals 50% of the number of shares issuable upon the conversion of
the related advance.  The agreement is secured by all of the
Company's outstanding assets.  As of Oct. 27, 2016, Mr. Reger has
advanced the Company $5,191,000 at conversion rates ranging from
$0.24 to $0.82 per share and has been issued two-year warrants to
purchase 6,336,211 shares of common stock exercisable at $2.00 per
share

Mr. Reger's father, Neil Reger, is also a member of the Company's
Board of Directors.

                        About GelTech

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

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

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

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


GEMMA CALLISTE: Hearing on Malachi's Plan Outline Set For Dec. 7
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Columbia has
scheduled for Dec. 7, 2016, at 10:30 a.m. the hearing to consider
the approval of the disclosure statement dated Oct. 15, 2016, filed
by creditor John Malachi for Gemma Calliste.

As reported by the Troubled Company Reporter on Oct. 21, 2016, Mr.
Malachi filed with the Court a Chapter 11 plan and accompanying
disclosure statement for the Debtor.  Mr. Malachi's Plan
contemplates the sale of real properties owned by the Debtor with
the exception of the Debtor's Homestead at 710 19th St. NE, in
Washington, D.C.

All objections to the disclosure statement must be filed and served
prior to the hearing.

At least 28 days prior to the hearing date, the proponent of the
plan will mail a copy of the Oct. 17 court order and notice to all
creditors, equity holders, and other parties in interest and will
transmit the Disclosure Statement and Plan to the Debtor, the U.S.
Trustee, each committee appointed, any creditors listed as holding
claims, the U.S. Securities and Exchange Commission and any party
in interest who has requested or requests in writing a copy of the
disclosure statement and plan.

Headquartered in Bowie, Maryland, Gemma Calliste filed for Chapter
11 bankruptcy protection (Bankr. D.C. Case No. 10-00685) on July
13, 2010, estimating its assets at between $500,001 and $1,000,000
and debts at between $1,000,001 and $10,000,000.  The petition was
signed by the Debtor.

Judge S. Martin Teel, Jr., presides over the case.

Jeffrey M. Sherman, Esq., at Jackson & Campbell serves as the
Debtor's bankruptcy counsel.


GENETICS TECHNOLOGIES: PwC Expresses Concern Doubt
--------------------------------------------------
Genetic Technologies Ltd. filed its annual report on Form 20-F,
reporting a net loss of $7.15 million on $824,586 of revenue for
the fiscal year ended June 30, 2016, compared with a net loss of
$8.40 million on $2.01 million of revenue for the year ended June
30, 2015.

PricewaterhouseCoopers, in Melbourne, Australia, states that the
Company has suffered recurring losses from operations that raise
substantial doubt about its ability to continue as a going concern.


The Company's balance sheet at June 30, 2016, showed $13.29 million
in total assets, $1.41 million in total liabilities, and
stockholders' equity of $11.88 million.

A complete text of the Form 20-F is available for free at:

                       https://is.gd/lUej4S

Genetic Technologies Ltd. is a molecular diagnostics company.  The
Company is engaged in the provision of molecular risk assessment
for cancer.  The Company offers predictive testing and assessment
tools for physicians to manage women's health.  The Company's lead
product, BREVAGenplus, is a clinically validated risk assessment
test for non-hereditary breast cancer.  The Company markets
BREVAGenplus to healthcare professionals in breast healthcare and
imaging centers, as well as to obstetricians/gynecologists (OBGYNs)
and breast cancer risk assessment specialists, such as breast
surgeons.  The Company operates in Australia, the United States and
Switzerland.



GIGA-TRONICS INC: Stockholders Elect Six Directors
--------------------------------------------------
Giga-tronics Incorporated held its annual meeting of shareholders
on Oct. 26, 2016, at which the shareholders:

   (a) elected Gordon L. Almquist, James A. Cole, Lutz P.
       Henckels, John R. Regazzi, William J. Thompson and Jamie
       Weston to the Company's Board of Directors for the ensuing
       year;

   (b) ratified the appointment of Crowe Horwath LLP as
       independent certified public accountants for the fiscal
       year ending March 26, 2016; and

   (c) approved on an advisory basis the named executive officer
       compensation.

There were issued and outstanding on Sept. 8, 2016, the record date
for the meeting, 9,549,703 shares of Common Stock and an aggregate
of 18,534 shares of Convertible Voting Perpetual Preferred Stock
eligible to vote.  The Convertible Voting Perpetual Preferred
Stock, all of which is held by Alara Capital AVI II, LLC, entitles
the holder to vote with holders of the Common Stock at the rate of
100 votes per share.

                     Directors Retire

On Oct. 26, 2016, Mr. Garrett Garrettson and Mr. Kenneth Harvey,
two directors of the Company, concluded their term on the Board and
all committees thereof and, as previously announced, did not stand
for re-election at the Company's 2016 Annual Meeting of
Stockholders.

Mr. Garrettson served as chairman of the Board, and as a member of
the Nominating and Governance Committee and the Compensation
Committee.  

Mr. Harvey served as a member of the Audit Committee and the
Compensation Committee.  

Messrs. Garrettson and Harvey's decisions to retire from the Board
were not the result of any disagreement with the Company.

                     About Giga-Tronics

Headquartered in San Ramon, California, Giga-tronics Incorporated
includes the operations of the Giga-tronics Division and
Microsource Inc. (Microsource), a wholly owned subsidiary.
Giga-tronics Division designs, manufactures and markets the new
Advanced Signal Generator (ASG) for the electronic warfare market,
and switching systems that are used in automatic testing systems
primarily in aerospace, defense and telecommunications.

As of June 25, 2016, Giga-Tronics had $12.12 million in total
assets, $9.17 million in total liabilities and $2.95 million in
total shareholders' equity.

                          Going Concern

The Company incurred net losses of $4.1 million and $1.7 million in
the fiscal years ended March 26, 2016 and March 28, 2015,
respectively.  These losses have contributed to an accumulated
deficit of $24.0 million as of March 26, 2016.

The Company has experienced delays in the development of features,
orders, and shipments for the new ASG.  These delays have
significantly contributed to a decrease in working capital from
$3.0 million at March 28, 2015, to $1.8 million at March 26, 2016.
The new ASG product has now shipped to several customers, but
potential delays in the development of features, longer than
anticipated sales cycles, or the ability to efficiently manufacture
the ASG, could significantly contribute to additional future losses
and decreases in working capital.

To help fund operations, the Company relies on advances under the
line of credit with Bridge Bank.  The line of credit expires on May
7, 2017.  The agreement includes a subjective acceleration clause,
which allows for amounts due under the facility to become
immediately due in the event of a material adverse change in the
Company's business condition (financial or otherwise), operations,
properties or prospects, or ability to repay the credit based on
the lender's judgement.  As of March 26, 2016, the line of credit
had a balance of $800,000, and additional borrowing capacity of
$906,000.

These matters, the Company said, raise substantial doubt as to its
ability to continue as a going concern.


GOLFSMITH INT'L: Ombudsman Hires Lowenstein as Counsel
------------------------------------------------------
Cassandra Porter, the duly-appointed consumer privacy ombudsman, in
the case of Goldsmith International Holdings, Inc., et al., seeks
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Lowenstein Sandler LLP as counsel to the
Ombudsman, effective as of October 7, 2016.

The Ombudsman requires Lowenstein to:

   a. investigate any proposed sale or lease of personally
      identifiable information by the Debtors;

   b. report to the Court on the information described in
      Bankruptcy Code section 332;

   c. appear before the Court in connection with the foregoing;

   d. provide advice to the Ombudsman on issues of bankruptcy law
      and procedure, including issues relating to sales under
      Bankruptcy Code section 363, and the procedures applicable
      in the bankruptcy Court; and

   e. represent the Ombudsman in the any other matter that may
      arise in connection with her service in the Chapter 11
      Cases.

Lowenstein will be paid at these hourly rates:

   Partners                     $550-$1,100
   Senior Counsel/Counsel       $390-$695
   Associates                   $285-$595
   Paralegals/Assistants        $110-$290

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

Cassandra Porter, member of Lowenstein Sandler 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.

Lowenstein can be reached at:

     Cassandra Porter, Esq.
     Mary J. Hildebrand, Esq.
     LOWENSTEIN SANDLER, LLP
     65 Livingston Avenue
     Roseland, NJ 07068
     Tel: (646) 414-6876
     E-mail: cporter@lowenstein.com
     E-mail: mhildedrand@lowenstein.com

                     About Golfsmith International

Headquartered in Austin, Texas, Golfsmith International Holdings,
Inc., the parent company of Golfsmith International, Inc., is a
holding company. The Company is a specialty retailer of golf and
tennis equipment, apparel, footwear and accessories. The Company
operates as an integrated multi-channel retailer, providing its
customers the convenience of shopping in the retail stores across
United States, through its Internet site,
http://www.golfsmith.com/,and from its catalogs. The Company
offers a product selection that features national brands, pre-owned
clubs and its branded products. It offers a number of customer
services and customer care initiatives, including its club trade-in
program, 30-day playability guarantee, 115% low-price guarantee,
its credit card, in-store golf lessons, and SmartFit, its
club-fitting program. As of Jan. 1, 2011, the Company operated 75
stores in 21 states and 33 markets.

Golfsmith International Holdings, Inc., and 12 affiliates filed
Chapter 11 petitions (Bankr. D. Del. Case No. 16-12033) on Sept.
14, 2016, and are represented by Mark D. Collins, Esq., John H.
Knight, Esq., Zachary I. Shapiro, Esq., and Brett M. Haywood, Esq.,
at Richards, Layton & Finger, P.A., in Wilmington, Delaware; and
Michael F. Walsh, Esq., David N. Griffiths, Esq., and Charles M.
Persons, Esq., at Weil, Gotshal & Manges LLP, in New York.

The Debtors' financial advisor is Alvarez & Marsal North America,
LLC. The Debtors' investment banker is Jefferies LLC. The Debtors'
claims, noticing and solicitation agent is Prime Clerk LLC.

At the time of filing, the Debtor had $100 million to $500 million
in estimated assets and $100 million to $500 million in estimated
liabilities.

Andrew Vara, acting U.S. trustee for Region 3, on Sept. 23, 2016,
appointed seven creditors to serve on the official committee of
unsecured creditors. The Committee hires Cooley LLP as lead
counsel, Chaitons LLP as Canadian counsel, Polsinelli PC as
Delaware counsel, Province, Inc. as financial advisor, A&G Realty
Partners as real estate advisor, Pope Shamsie & Dooley LLP as tax
accountants.


GRAFTECH INTERNATIONAL: Incurs $23M Net Loss in Sept. 30 Quarter
----------------------------------------------------------------
Graftech International Ltd. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q for the period ended
Sept. 30, 2016.

For the three months ended Sept. 30, 2016, the Company reported a
net loss of $22.96 million on $111.59 million of net sales compared
to a net loss of $7.30 million on $74.77 million of net sales for
the period from Aug. 15, 2015, through Sept. 30, 2015.

For the period from July 1, 2015, through Aug. 14, 2015, the
Company reported a net loss of $42.22 million on $51.60 million of
net sales.

As of Sept. 30, 2016, Graftech had $1.23 billion in total assets,
$601.70 million in total liabilities and $636.90 million in total
stockholders' equity.

The Company believes that it has adequate liquidity to meet its
needs.  As of Sept. 30, 2016, the Company had cash and cash
equivalents of $12.1 million, long-term debt of $364.1 million,
short-term debt of $6.5 million and stockholder's equity of $637
million.

On April 27, 2016, GrafTech and certain of its subsidiaries entered
into an amendment to the Revolving Facility.  As a result of the
amendment, the size of the Revolving Facility was permanently
reduced from $375 million to $225 million.  New covenants were also
added to the Revolving Facility, including a requirement to make
mandatory repayments of outstanding amounts under the Revolving
Facility and the Term Loan Facility with the proceeds of any sale
of all or any substantial part of the assets included in the
Engineered Solutions segment and a requirement to maintain minimum
liquidity (consisting of domestic cash, cash equivalents and
availability under the Revolving Facility) in excess of $25
million.  The covenants were also modified to provide for: the
elimination of certain exceptions to the Company's negative
covenants limiting the Company's ability to make certain
investments, sell assets, make restricted payments, incur liens and
incur debt; a restriction on the amount of cash and cash
equivalents permitted to be held on the balance sheet at any one
time without paying down the Revolving Facility; and changes to the
Company's financial covenants so that, until the earlier of March
31, 2019, or the Company has $75 million in trailing twelve month
EBITDA, the Company is required to maintain trailing twelve month
EBITDA above certain minimums ranging from ($40 million) to $35
million after which the Company's existing financial covenants
under the Revolving Facility will apply.

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

                        https://is.gd/H1DhJS

                           About Graftech
  
Graftech International Ltd. is a manufacturer of a broad range of
high quality graphite electrodes, products essential to the
production of electric arc furnace steel and various other ferrous
and nonferrous metals.

                             *    *    *

As reported by the TCR on March 15, 2016, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on
Independence, Ohio-based GrafTech International Ltd. two notches to
'CCC+' from 'B'.

Draftech carries a Ba3 corporate family rating from Moody's
Investors Service.


GREAT BASIN: $13.5MM of 2015 Notes Converted to Equity
------------------------------------------------------
Certain holders of the 2015 Notes were issued shares of Great Basin
Scientific, Inc. common stock on October 24 through October 28
pursuant to Section 3(a)(9) of the United States Securities Act of
1933, (as amended) in connection with the voluntary reduction under
the terms of the exchange agreement dated Oct. 2, 2016, using the
alternate conversion price.  In connection with the voluntary
reduction, the Company issued 14,845,581 shares of common stock
upon the conversion of $368,325 principal amount of 2015 Notes at a
conversion price of $0.02 per share.

On October 24 through October 28 certain holders of the 2015 Notes
were issued shares of the Company's common stock pursuant to
Section 3(a)(9) of the United States Securities Act of 1933, (as
amended) in connection with the voluntary reduction under the terms
of the exchange agreement dated Oct. 2, 2016, using the alternate
conversion price.  These issuances removed the deferral option from
previous conversions of the note principal.  In connection with the
voluntary reduction and the removal of the deferral option, the
Company issued 8,534,379 shares of common stock upon to make
permanent the previously converted amount of $215,000 principal
amount of 2015 Notes at a conversion price of $0.02 per share.

As of Oct. 28, 2016, a total principal amount of $13,563,645 of the
2015 Notes has been permanently converted into shares of common
stock and a principal amount of $4,142,241 has been converted that
is subject to deferrals.  $4,394,114 principal remains to be
converted, subject to deferrals.  A total of $14.8 million of the
proceeds from the 2015 Notes has been released to the Company
including $4.6 million at closing and $10.2 million from the
restricted cash accounts.  $3.6 million remains in the restricted
accounts to be released to the Company on Nov. 1, 2016, per the
terms of the exchange agreement dated Oct. 2, 2016.

The Company previously filed an 8-K on Oct. 21, 2016, and reported
71,703,092 shares outstanding therefore as of Oct. 28, 2016, there
are 95,083,052 shares of common stock issued and outstanding.

In connection with the voluntary reduction using the alternate
conversion price, the exercise prices of certain of our issued and
outstanding securities were automatically adjusted to take into
account the alternate conversion price of the 2015 Notes.  The
exercise prices of the following securities were adjusted as
follows.

Series B Warrants

As of Oct. 28, 2016, the Company has outstanding Series B Warrants
to purchase 36 shares of common stock of the Company.  The Series B
Warrants include a provision which provides that the exercise
prices of the Series B Warrants will be adjusted in connection with
certain equity issuances by the Company.  The consummation of the
Conversions triggers an adjustment to the exercise price of the
Series B Warrants.  Therefore, during the period of October 24
through Oct. 28, 2016, the exercise price for the Series B Warrants
was adjusted from $110,017 to $105,120 per share of common stock.

                       About Great Basin

Great Basin Scientific is a molecular diagnostic testing company
focused on the development and commercialization of its patented,
molecular diagnostic platform designed to test for infectious
disease, especially hospital-acquired infections.  The Company
believes that small to medium sized hospital laboratories, those
under 400 beds, are in need of simpler and more affordable
molecular diagnostic testing methods.  The Company markets a system
that combines both affordability and ease-of-use, when compared to
other commercially available molecular testing methods, which the
Company believes will accelerate the adoption of molecular testing
in small to medium sized hospitals.  The Company's system includes
an analyzer, which it provides for its customers' use without
charge in the United States, and a diagnostic cartridge, which the
Company sells to its customers.

Great Basin reported a net loss of $57.9 million in 2015 following
a net loss of $21.7 million in 2014.

As of June 30, 2016, Great Basin had $26.09 million in total
assets, $87.07 million in total liabilities and a total
stockholders' deficit of $60.98 million.

Mantyla McReynolds, LLC, in Salt Lake City, Utah, 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 incurred substantial losses from operations causing
negative working capital and negative operating cash flows.  These
issues raise substantial doubt about its ability to continue as a
going concern.


HANCOCK STREET: Court Denies D. Rosenbaum's Admin. Expense Claim
----------------------------------------------------------------
Judge Nancy Hershery Lord of the United States Bankruptcy Court for
the Eastern District of New York ruled on two applications for
allowance and reimbursement of professional fees and expenses filed
by David Rosenbaum, an unsecured creditor of Hancock Street SML
LLC, and Trop Spindler LLP, counsel for Hancock.  The judge granted
Trop Spindler's application in part, and denied Rosenbaum's
application in full.

After the court confirmed a Chapter 11 plan which allowed for
Rosenbaum and other contract vendees to purchase the debtor's
properties for which each had previously contracted, Rosenbaum
moved for allowance of his counsel's fees of $46,121.25 as an
administrative expense.  This amount includes $43,417.50 for
opposing efforts to dismiss the bankruptcy case and filing a
proposed plan and disclosure statement, and $2,703.25 for objecting
to the City of New York's proof of claim number 14.  

Trop Spindler also moved for approval of its fee application in the
amount of $106,640, and expenses of $4,508.28 incurred in its
representation of Hancock.

The U.S. Trustee, the City, and Hancock oppose Rosenbaum's
application.  Their objections focused on the allegation that
Rosenbaum proceeded in the interests of himself and Abraham
Grunbaum, an unaffiliated third-party investor who was ineligible
to file a plan, rather than those of the estate.  In addition, they
argued that Rosenbaum's plan was unconfirmable.  Regarding the
claim objection, the City contended that it filed the claim "in
error," and that Rosenbaum's counsel could have resolved the error
by simply communicating with the City's counsel.

The UST, the City, and creditor JFKYYZ BS6 L.P. (JFK) also opposed
Trop Spindler's application.  They argued that Trop Spindler's
services did not benefit the estate, that Hancock failed to perform
its basic duties as debtor-in-possession, and that it failed to
obey numerous court orders, among other things.  The City further
argued that Trop Spindler and Hancock did not cooperate in allowing
the City access to Hancock's six residential properties in Brooklyn
to determine amounts due for municipal water use, and that this led
to a tardy discovery of theft of services.

Judge Lord found that Trop Spindler has failed to meet several of
the requirements for approval of its fee application, and that a
reduction of its fees is therefore required.  The judge found as
follows:

     -- First, Trop Spindler sought $5,950 in compensation for
        services rendered prior to the filing date, and thus its
        fees must be reduced in that amount.

     -- Second, several of Trop Spindler's time entries are vague
        and therefore not in compliance with Eastern District
        General Order 613.   

     -- Third, Trop Spindler has also "lumped" several of its
        time entries, totaling $32,200, in violation of the
        General Order.

     -- Fourth, the timesheets contain entries for undisclosed
        individuals, despite the General Order's guideline.  

Judge Lord also found that, as noted in the objections to Trop
Spindler’s fee application, JFK performed the bulk of duties that
are typically performed by a debtor-in-possession and that other
aspects of Trop Spindler's performance were also deficient.

For all of these reasons, Judge Lord concluded that a further
reduction is justified, such that the reasonable compensation for
services rendered by Trop Spindler is approved in the amount of
$30,925.  Finally, Judge Lord found that Trop Spindler's expenses
are reasonable and properly documented, and granted them in the
full amount of $4,508.28.

As for Rosenbaum, he contended that he should be entitled to legal
fees as an administrative expense under 11 U.S.C. section 503(b).
Rosenbaum argued that his legal fees are entitled to administrative
priority because of his substantial contribution in the case.

Judge Lord, however, held that Rosenbaum has not met his heavy
burden of demonstrating that his efforts made a substantial
contribution for section 503(b) purposes.

The judge found that Rosenbaum's opposition to dismissal of the
case, as well as his filing of a plan and disclosure statement,
were done primarily for his own benefit rather than that of the
estate generally, as Rosenbaum's unapproved plan and disclosure
statement did not "directly" or "demonstrably" lead to tangible
benefits to the estate.  

In addition, Judge Lord held that Rosenbaum's contention that his
services prevented a dismissal of the case does not demonstrate a
substantial contribution.  The judge explained tha, at most,
Rosenbaum has demonstrated that any benefit resulting from his
efforts to oppose dismissal of the case and file his own plan and
disclosure statement were merely "incidental," and "ar[ose] from
activities the [he] pursued in protecting his . . . own interests,"
and therefore insufficient to demonstrate a substantial
contribution under section 503(b).

Judge Lord also added that neither has Rosenbaum demonstrated an
entitlement to an administrative claim based on his efforts to
expunge the City's lien.  This is because Rosenbaum's motion, which
the City did not oppose, did not constitute "extraordinary creditor
action" that would entitle him to an administrative claim.

The judge further noted that Rosenbaum has provided no
corroborating testimony from a disinterested party in favor of his
application.

A full-text copy of Judge Warren's October 17, 2016 order is
available at http://bankrupt.com/misc/nyeb1-14-45491-286.pdf

David Rosenbaum is represented by:

          Isaac Nutovic, Esq.
          NUTOVIC & ASSOCIATES
          261 Madison Avenue 26th Floor
          New York, NY 10016

Debtor is represented by:

          Gail E. Spindler, Esq.
          TROP SPINDLER LLP
          19-02 Whitestone Expressway Suite 202
          Whitestone, NY 11357-3099

City of New York is represented by:

          Gabriela P. Cacuci, Esq.
          NEW YORK CITY LAW DEPARTMENT
          100 Church Street, 5th Floor
          New York, NY 10007

Creditor JFKYYZ BS6 L.P. is represented by:

          Aviva Francis, Esq.
          Evan M. Newman, Esq.
          NEWMAN LAW, P.C.
          377 Pearsall Avenue Suite C
          Cedarhurst, NY 11516
          Email: afrancis@newmanlawpc.com
                 enewman@newmanlawpc.com

United States Trustee is represented by:

          William Curtin, Esq.
          Rachel Weinberger, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          201 Varick Street, Suite 1006
          New York, NY 10014

                    About Hancock Street SML LLC

Hancock Street SML LLC, based in Staten Island, N.Y., filed a
Chapter 11 petition (Bankr. E.D.N.Y. Case No. 14-45491) on October
29, 2014.  The Hon. Hershey Lord presides over the case.  Gail E.
Spindler, Esq. at Trop & Spindler LLP, serves as bankruptcy
counsel.

In its petition, the Debtor estimated $6 million in both assets and
liabilities.  The petition was signed by George Armstrong, managing
member.


I.K.E. ELECTRICAL: Hires Peckar & Abramson as Special Counsel
-------------------------------------------------------------
I.K.E. Electrical Corp., seeks authority from the U.S. Bankruptcy
Court for the District of New Jersey to employ Peckar & Abramson,
P.C. as special counsel to the Debtor.

I.K.E. Electrical requires Peckar & Abramson to provide legal
representation in connection with defending the Debtor in relation
to an action filed against the Debtor in Superior Court of NJ.

Peckar & Abramson will be paid at these hourly rates:

     Partner                 $450
     Associates              $285
     Paralegals              $185

Peckar & Abramson will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Gerard J. Onorata, member of Peckar & Abramson, P.C., 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 Debtor and its estates.

Peckar & Abramson can be reached at:

     Gerard J. Onorata, Esq.
     PECKAR & ABRAMSON, P.C.
     70 Grand Ave.
     River Edge, NJ 07661
     Tel: (201) 343-3434
     Fax: (201) 343-6306

                       About I.K.E. Electrical

Headquartered in Closter, New Jersey, I.K.E. Electrial Corporation
dba IKE Electrical Corp. filed for Chapter 11 bankruptcy protection
(Bankr. D. N.J. Case No. 16-18212) on April 28, 2016, estimating
its assets at up to $50,000 and its liabilities at between $1
million and $10 million. The petition was signed by Rebecca S.
Adika, president.

Judge John K. Sherwood presides over the case.

David L. Stevens, Esq., at Scura, Wigfield, Heyer & Stevens, LLP,
serves as the Debtor's bankruptcy counsel.


IDERA PHARMACEUTICALS: Reports Q3 2016 Financial Results
--------------------------------------------------------
Idera Pharmaceuticals, Inc. reported its financial and operational
results for the third quarter ended Sept. 30, 2016.

Since June 30, 2016, the Company:

   * Announced positive clinical data from the initial cohorts of
     the phase 1 dose escalation portion of the Company's ongoing
     Phase 1/2 clinical trial of intratumoral IMO-2125 in
     combination with ipilimumab in patients with PD-1 refractory
     metastatic melanoma;

   * Presented pre-clinical data updates on both novel mechanism
     of action and selective targeting of single point mutations
     with 3rd Generation Antisense (3GA) at the Cold Springs
     Harbor Laboratory Conference on Regulatory & Non-Coding RNAs
     conference and the Annual Meeting of the Oligonucleotide
     Therapeutic Society, respectively;

   * Received acceptance of an abstract entitled "Reactivating the
     Anti-tumor Immune Response by Targeting Innate and Adaptive
     Immunity in a Phase I/II Study of intratumoral IMO-2125 in
     Combination with Systemic Ipilimumab in Patients with Anti-
     PD-1 Refractory Metastatic Melanoma” for an oral
presentation
     at the upcoming Society for Immunotherapy of Cancer (SITC)
     Annual Meeting in November 2016;

   * Received acceptance of an oral presentation entitled "IMO-
     2125, An Investigational intratumoral Toll-Like Receptor 9
     Agonist, Modulates the Tumor Microenvironment to Enhance
     Anti-Tumor Immunity" at SITC Annual Meeting;

   * Generated estimated net proceeds of $48.9M, after deducting
     underwriters' discounts and commissions and estimated
     offering expenses, from a public offering of common stock,
     including from the partial exercise by the underwriters of
     their option to purchase additional shares in the offering,
     which option exercise is expected to close Oct. 28, 2016.
     The Company believes that, based on its current operating
     plan, its existing cash, cash equivalents and investments,
     including the net proceeds from the offering, will enable it
     to fund its operations into the first quarter of 2018 and
     continue acceleration and development of key research and
     clinical development programs; and

   * Announced increased prioritization of IMO-2125 with plans to
     initiate two additional multi-center clinical trials in 2017
     both as monotherapy and in combination with check-point
     inhibitors in multiple tumor types.

"The third quarter of 2016 was a very productive period for our
team at Idera and positions us well to close out the year very
strong and carry that momentum into a catalyst rich 2017," stated
Vincent Milano, Idera's chief executive officer.  "As I noted in
late September, we are incredibly energized by the IMO-2125 data we
announced in such an early phase of the development and are now
mobilized to advance this program rapidly, to potentially alter the
lives of other patients who have exhausted all other good
options."

Continued Milano, "I am also proud of the conduct of our team to
complete all the work that was necessary to inform and enable our
recent decision to suspend work on the B-cell program, which, while
difficult, allows us to redirect additional resources to accelerate
the development of IMO-2125.  We remain excited for the prospects
of dermatomyositis with IMO-8400 and we are looking forward to
being in a position to go into greater detail in January on our
plans to begin the clinical phases of development with the 3GA
platform."

Research and Development Program Updates

IMO-2125 and IMO-8400 are the Company's lead clinical development
drug candidates.  IMO-2125 is an oligonucleotide-based agonist of
Toll-like receptor (TLR) 9.  IMO-8400 is an oligonucleotide-based
antagonist of TLRs 7, 8, and 9.  The Company also announced, in
late 2015, the first two potential development targets from its
proprietary 3GA technology platform:  NLRP3 (NOD-like receptor
family, pyrin domain containing protein 3) and DUX4 (Double
Homeobox 4).  The Company continues to evaluate these and other
potential targets.  The Company plans to take the first 3GA
candidate into human proof of concept studies in 2017.

Toll-like Receptor (TLR) Agonism

Immuno-Oncology Program

Idera's development program in immuno-oncology is based on the
rationale that intra-tumoral injections of IMO-2125, a TLR9
agonist, will activate dendritic cells and modulate the tumor
microenvironment to potentiate the anti-tumor activity of
checkpoint inhibitors and other immunotherapies.  This rationale is
supported by pre-clinical data in multiple tumor types.  These
pre-clinical studies led Idera into a strategic alliance with the
University of Texas MD Anderson Cancer Center to evaluate the
combination of intratumoral IMO-2125 with checkpoint inhibitors.

In late 2015, Idera announced the initiation of a Phase 1/2
clinical trial of intratumoral IMO-2125 in combination with
ipilimumab, a CTLA4 antibody, which is being conducted at the
University of Texas MD Anderson Cancer Center.  This trial is being
conducted in patients with relapsed or refractory metastatic
melanoma who have failed prior PD-1 therapy. In September 2016, the
Company announced positive preliminary clinical data from the
initial dosing cohorts in the ipilimumab arm of the dose escalation
portion of the trial.  The trial has recently been amended to also
include the evaluation of the combination of intratumoral IMO-2125
with pembrolizumab, an anti-PD1 antibody, with enrollment in this
arm now underway.  The Company plans to expand the trial to
additional clinical trial sites to conduct the phase 2 portion of
the trial.

The results announced are summarized as follows:

Safety

  * 10 patients in 3 dosing cohorts (4mg, 8mg and 16mg) were dosed
    and assessable for safety, as of the September 19, 2016 cutoff

    date;

  * IMO-2125 in combination with ipilimumab was being generally
    well tolerated at all 3 dose levels;

  * Immune related adverse events have been observed in 3
    subjects: 2 responding patients have experienced hypophysitis
    and 1 patient has discontinued the study due to a recurrence
    of immune related hepatitis previously observed on pre-study
    therapy with ipilimumab;

  * No dose limiting toxicities (DLTs) were identified and the
    study is currently enrolling at the highest (32mg) dosing
    cohort in combination with ipilimumab.

Clinical activity

  * 6 patients treated in the first two dosing cohorts (4mg and
    8mg) were assessable for initial clinical activity, as of the
    Sept. 19, 2016, cutoff date;

  * 3 of the 4 patients with cutaneous melanoma were investigator-
    assessed responders with one Complete Response (CR) and 2
    Partial Responses (PR).

Translational observations

  * Translational data seen through the first two dosing cohorts
   (4mg and 8mg) were promising relative to the induction of
    immune responses and consistent with the underlying hypothesis

    of the mechanism of action;

  * Detailed information on the translational findings from
    biopsies taken in the first two dosing cohorts and the
    relationship of these to clinical response is the subject of   
  
    an accepted oral presentation on Nov. 11, 2016, at the 2016
    Society for Immunotherapy of Cancer (SITC) Annual Meeting by
    Cara Haymaker, Ph.D., University of Texas, MD Anderson Cancer

    Center.

The Company also announced plans to take another data cut at the
end of 2016 and request an End of Phase 1 (EOP) meeting with the
U.S. Food and Drug Administration to discuss next steps and the
path to a regulatory filing.  The Company also anticipates
requesting a meeting with the European Medicines Agency (EMA) for
scientific advice.

Idera also plans to initiate trials to explore IMO-2125 as a
monotherapy in multiple tumor types as well as a Phase 2 basket
study of IMO-2125 in combination with check point inhibitors in
additional tumor types beyond melanoma.  Both of these studies are
planned to initiate in 2017.

Toll-like Receptor (TLR) Antagonism

Dermatomyositis Clinical Development Program

In late 2015, Idera announced the initiation of a Phase 2 clinical
trial of IMO-8400 in patients with dermatomyositis, a rare
auto-immune condition, which negatively affects skin and may result
in debilitating muscle weakness.  TLRs have been reported to play a
role in the pathogenesis of the disease.  This randomized,
double-blind, placebo controlled Phase 2 trial is expected to
enroll 36 patients will be conducted at approximately 22 clinical
sites worldwide.  The Company plans to complete enrollment of this
trial by the end of 2017 and have clinical data available in early
2018.

B-cell Lymphoma Clinical Development Program

In September 2016, Idera announced that the company had suspended
the clinical development of IMO-8400 for B-cell lymphomas,
including studies in Waldenstroms Macroglobulinemia (WM) and
Diffuse Large B-Cell Lymphoma (DLBCL), and planned to explore
strategic options in these indications.  This decision was based
upon the prioritization of the clinical development plans for
IMO-2125 and the Company's assessment that the level of clinical
activity seen in the WM trial does not support monotherapy, the
very slow enrollment rate in DLBCL and the Company's commercial
assessment of IMO-8400.  IMO-8400 was generally well tolerated at
all dose levels evaluated in the studies.

Third Generation Antisense Platform (3GA)

Idera's proprietary third-generation antisense (3GA) platform
technology is focused on silencing the mRNA associated with disease
causing genes.  Idera has designed 3GA oligonucleotides to overcome
specific challenges associated with earlier generation antisense
technologies and RNAi technologies.

In late 2015, Idera announced the identification of NLRP3 (NOD-like
receptor family, pyrin domain containing protein 3) and DUX4
(Double Homeobox 4) as initial gene targets to advance into
IND-enabling activities, which will occur throughout 2016.
Potential disease indications related to these targets include, but
are not limited to, interstitial cystitis, lupus nephritis, uveitis
and facioscapulohumeral muscular dystrophy (FSHD). Over the first
three quarters of 2016, Idera has generated additional 3GA
compounds for a series of additional gene targets, which join NLRP3
and DUX4 as potential gene targets for the first clinical
development program.   The Company is currently conducting
clinical, regulatory and commercial analysis activities and
conducting IND-enabling studies.  The Company plans to enter the
clinic in 2017 for the first clinical development program.  These
additional compounds will enable the Company to continue to expand
its potential future pipeline opportunities for both internal
development as well as partnerships in areas outside of Idera’s
focus.

In August 2016, Idera presented new pre-clinical data demonstrating
the novel mechanism of action of the 3GA platform at the Cold
Springs Harbor Laboratory Conference on Regulatory & Non-Coding
RNAs.  Subsequently, Idera presented in September 2016, new
pre-clinical data demonstrating how the 3GA platforms unique
mechanism of action supports selective targeting of single point
mutations as well as a pre-clinical data presentation of 3GA
targeting of NLRP3 for the treatment of inflammatory disorders.
These presentations were made at the 12th Annual Meeting of the
Oligonucleotide Therapeutics Society (OTS).

In late 2015, Idera entered into a collaboration and license
agreement with GSK to research, develop and commercialize compounds
from its 3GA technology for the treatment of undisclosed, selected
renal targets.  As per the terms of the agreement, Idera received
an upfront payment of $2.5 million and is eligible to receive up to
approximately $100 million in milestone payments, including the
$2.5 million payment, in addition to royalties.

Financial Results

Third Quarter 2016 Results

Net loss for the three months ended Sept. 30, 2016, was $12.9
million, or $(0.10) per basic and diluted share, compared to a net
loss of $11.4 million, or $(0.10) per basic and diluted share, for
the same period in 2015.  Revenue totaled $0.3 million and $0.9
million during the three and nine months ended Sept. 30, 2016,
respectively.  There was nominal revenue recognized during the
corresponding 2015 periods.  For the nine month period ended Sept.
30, 2016, the Company's net loss was $39.2 million, or $(0.32) per
basic and diluted share, compared to a net loss of $36.6 million,
or $(0.32) per diluted share, for the same period in 2015.

Research and development expenses for the three months ended Sept.
30, 2016, totaled $9.4 million compared to $7.5 million for the
same period in 2015. For the nine month period ended Sept. 30,
2016, research and development expenses totaled $28.8 million
compared to $25.1 million for the same period in 2015.

General and administrative expense for the three months ended Sept.
30, 2016, totaled $3.9 million compared to $4.0 million for the
same period in 2015.  For the nine month period ended Sept. 30,
2016, general and administrative expenses totaled $11.6 million
compared to $11.7 million for the same period in 2015.

As of Sept. 30, 2016, Idera's cash, cash equivalents and
investments totaled $53.4 million compared to $87.2 million as of
Dec. 31, 2015.

In October 2016, the Company completed a public offering of its
common stock, generating estimated net proceeds of $48.9M, after
deducting underwriters' discounts and commissions and estimated
offering expenses, including from the partial exercise by the
underwriters of their option to purchase additional shares in the
offering, which option exercise is expected to close Oct. 28, 2016.
The Company believes that, based on its current operating plan,
its existing cash, cash equivalents and investments, including the
net proceeds from the offering, will enable it to fund its
operations into the first quarter of 2018 and continue acceleration
and development of key research and clinical development programs.

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

                      https://is.gd/DZtOXi

                           About Idera

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera reported a net loss of $48.6 million in 2015 following a net
loss of $38.6 million in 2014.  The Company also reported a net
loss of $18.2 million in 2013 and $19.2 million in 2012.

As of June 30, 2016, Idera had $69.2 million in total assets, $8.18
million in total liabilities and $61.04 million in total
stockholders' equity.


IEG HOLDINGS: Recurring Losses Raises Going Concern Doubt
---------------------------------------------------------
IEG Holdings Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $984,549 on $557,551 of total revenues for the three
months ended September 30, 2016, compared to a net loss of $1.42
million on $530,267 of total revenues for the same period in 2015.

For the nine months ended September 30, 2016, the Company listed a
net loss of $3.18 million on $1.63 million of total revenues,
compared to a net loss of $4.24 million on $1.33 of total revenues
for the same period in the prior year.

The Company's balance sheet at September 30, 2016, showed total
assets of $8.35 million, total liabilities of $69,436 and
stockholders' deficit of $8.28 million.

The Company used cash in operations of $2,095,725 during the nine
months ended September 30, 2016, compared to $2,948,727 during the
nine months ended September 30, 2015, and this decrease is in line
with expectations due to the continued growth of the Company's
revenue.  The Company used cash in investing activities of
$1,126,332 during the nine months ended September 30, 2016,
compared to $3,256,639 of cash used during the nine months ended
September 30, 2015.  The decrease in cash used in investing
activities is primarily due to a decrease in loans receivable
originated.

The Company was provided $3,661,050 of net cash from financing
activities during the nine months ended September 30, 2016,
compared to $7,469,636 during the same period in 2015.  The funds
were attributable to proceeds from preferred stock and common stock
received and was a decrease from the corresponding period in 2015.

At September 30, 2016, the Company had cash on hand of $924,552,
which when added to budgeted cash inflows from loans receivable
repaid and budgeted cash inflows from revenues, is sufficient to
meet its operating needs for the next 12 months.

The principal conditions/events that raise substantial doubt of the
company's ability to meet its obligations are i) the Company has
reported recurring losses and ii) the Company has not yet generated
positive net cash flows from operations.  Without raising
additional debt or equity capital, management's plans include
reducing advertising costs to significantly reduce loan
originations and related loan processing costs.  There would also
be a significant reduction in consulting and professional fees
without additional capital being raised.  Management's plans also
include utilizing the funds received from loan principal repayments
for operating expenses rather than investing in loan origination.
In addition, significant core operating costs have been cut from
the Company in 2016 including reducing the number of employees from
12 to 7 due to increased automation of loan origination processes
and reducing the number of office leases from 4 to 1 in the past
quarter as old leases expired.  While the Company has sufficient
cash on hand at September 30, 2016 combined with anticipated cash
flow from loan repayments to continue operations for at least 12
months, the Company intends, over the next 12 months, to seek
additional capital via unsecured notes to expand operations and the
Company has shown the capacity to raise substantial equity capital
over the past few years and, although not the current plan, could
seek additional equity capital if required.

A full-text copy of the Company's Form 10-Q is available at:

                     https://is.gd/uAtjAg

IEG Holdings Corporation provides unsecured consumer loans under
the consumer brand "Mr. Amazing Loans."  The Las Vegas-based
Company originates consumer loans in Alabama, Arizona, California,
Florida, Georgia, Illinois, Kentucky, Louisiana, Missouri, Nevada,
New Jersey, New Mexico, Oregon, Pennsylvania, Texas, Utah and
Virginia.



INDIANA FINANCE: Fitch Lowers Rating on PABs to 'B'
---------------------------------------------------
Fitch Ratings has downgraded the Indiana Finance Authority's (IFA)
private activity bonds (PABs) issued on behalf of I-69 Development
Partners LLC (I-69 DP) for the I-69 Section 5 project to 'B' from
'BB'.  The bonds remain on Rating Watch Negative.

                        KEY RATING DRIVERS

The downgrade reflects continued delays in construction and
unresolved disputes between I-69 DP Isolux-Corsan USA (the
construction contractor), and the IFA resulting in a limited margin
remaining to complete the project by the current Long-Stop date.
This culminated in six Notices of Default issued by I-69 DP to the
construction contractor, and a Notice of Non-Performance issued by
the IFA to the Developer.  In particular, Fitch notes that the
fifth default, issued on Sept. 26, 2016, pertains to the failure of
the contractor to replenish the Letter of Credit (LC) which was
drawn upon two weeks prior (Sept. 15, 2016), for a total of $23
million.  The subcontractors have now been fully paid, however, the
construction contractor has not replenished the LC as required.

Based on the current status of the project, it appears that
Substantial Completion is unlikely to occur before October 2017
which is the current Long-Stop Date under the concession agreement.
Negotiations are underway between all stakeholders with regards to
a global solution, which would resolve outstanding disputes
including liquidity, timing and scope.  Delay risk is further
heightened by the financial deterioration of Corsan-Corviam
Construccion SA, parent of the construction contractor,
Isolux-Corsan USA, whose rating was revised to 'RD' (Restricted
Default) from 'C' on Aug. 3, 2016, reflecting the execution of a
Distressed Debt Exchange following recent filings for forms of
court protection as part of its restructuring plans.

It is Fitch's understanding that all items of dispute including
project scope, timing, and liquidity are part of the on-going
global settlement negotiations.

Fitch has revised the Completion Risk Key Rating Driver to Weaker
from Midrange reflecting the current state of the project.  The
other Key Rating Drivers remain unchanged, however, they will be
subject to changes should the outcome of the negotiations vary
significantly from the original agreement.

                     RATING SENSITIVITIES

Negative

   -- Failure to reach global settlement between parties resulting

      in a greater likelihood of default under the concession
      agreement;

   -- Continued delays, ongoing disputes, inadequate liquidity,
      and further work suspensions which jeopardize the ability to

      meet a revised completion date.

   -- Significant sustained payment deductions being levied
      against the project company or materially higher costs
      during the operating period than currently forecast, either
      of which reducing coverage levels well below current
      projections, would also place the rating under some
      pressure.

Positive

   -- Positive rating migration during construction is highly
      unlikely given completion risk issues facing the project.  
      If the project is successfully completed, positive rating
      migration back to its previous level will likely occur
      assuming no material change to the project's operating
      profile.

                         SUMMARY OF CREDIT

On Aug. 8, 2016, Fitch downgraded the IFA's PABs to 'BB' on Rating
Watch Negative, which reflected delays in construction and
unresolved payment issues between the construction contractor and
subcontractors, culminating in two Notices of Default issued by the
Developer to the construction contractor, citing failure to
promptly pay subcontractors and falling behind on an existing
remedial plan.

The persistent payment issue between the construction contractor
and subcontractors has resulted in the Developer issuing four
additional Notices of Default to the construction contractor in
September 2016 as follows: (i) Failure to promptly pay
subcontractors (20 day cure period), (ii) Filing a temporary
restraining order and preliminary injunction against the Developer
regarding a draw on the Letter of Credit, (iii) Failure to replace
the Letter of Credit (10 day cure period), and (iv) Additional
failure to promptly pay subcontractors (20 day cure period) Fitch
notes that one Notice of Default pertaining to contractor payment
issues had been cured on Aug. 25, 2016, leaving five Notices of
Default outstanding.

Fitch believes that it is highly unlikely that the contractor will
achieve Substantial Completion by June 28, 2017 as previously
discussed.  Current negotiations are underway to finalize
completion dates and ongoing disputes between the IFA, I-69
Development Partners and Isolux-Corsan USA (construction
contractor).  Based on the revised cash-flow schedule, Isolux is
substantially behind the anticipated expenditure curve.  Actual
drawdowns from April to September 2016, a means Fitch uses to
measure construction progress, fell over 60% below the scheduled
amount.  Actual drawdowns for the month of August were
significantly under the scheduled drawdown of $17.7 million.  In
total, the project is behind the anticipated cumulative drawdown by
over $73.4 million, which is almost 24% of the entire contract
value.  Fitch will continue to monitor progress and assess the
outcome of any negotiated settlement when it is finalized. .

Unless significant construction progress occurs during this time
period, further negative rating action is likely.



INFOBLOX INC: Fitch Assigns 'B' IDR; Outlook Stable
---------------------------------------------------
Fitch Ratings has assigned these first-time ratings to Infoblox
Inc.:

   -- Long-Term Issuer Default Rating at 'B';
   -- 1st-Lien Senior Secured Revolving Credit Facility (RCF) at
      'BB-/RR2';
   -- 1st-Lien Senior Secured Term Loans at 'BB-/RR2';
   -- 2nd-Lien Senior Secured Term Loans at 'CCC+/RR6'.

The Rating Outlook is Stable.  Fitch's actions affect $800 million
of total debt, including the undrawn $50 million RCF.

                        KEY RATING DRIVERS

   -- Meaningful Market Leadership: Fitch expects Infoblox's
      market leadership in DDI, which includes domain name
      services (DNS), dynamic host configuration protocol (DHCP)
      and internet protocol (IP) address management (IPAM), will
      continue and support solid operating performance through the

      intermediate-term.  Infoblox has an estimated 50% share of
      the worldwide DDI software and appliance (excluding DNS
      security, which was 13% of fiscal 2016 revenue but expected
      to continue growing rapidly through the intermediate term).
      The company's leading share and large installed base results

      in meaningful cumulative intellectual property, including
      data to support analytics add-on services, customer and
      industry diversification, research and development (R&D)
      scale and significant recurring revenue from maintenance and

      support contracts.

   -- Maintenance Driven Recurring FCF: Fitch expects growing
      recurring free cash flow (FCF) from maintenance and support
      contracts, which have high attach and renewal rates.
      Maintenance contracts typically are one to three years in
      duration and drive substantial deferred revenue, supported
      by incentives for customers entering longer-term contracts.
      Maintenance and support revenue should grow by high single
      digits through the intermediate-term, due to high switching
      costs, product sales growth and increasing complexity.
      Importantly, Fitch believes there is minimal risk of
      repaying cash inflows from growing deferred revenue, given
      the nature and stickiness of maintenance and support
      services.

   -- High Intermediate-Term Leverage: Fitch expects Infoblox will

      remain highly levered over the intermediate term, given
      positive but modest FCF available for debt reduction.  Fitch

      estimates funds from operations (FFO) adjusted leverage (FFO

      to debt adjusted for operating leases) is 9.5x, pro forma
      for the acquisition.  Fitch expects small and organically
      funded tuck-in rather than large acquisitions, leaving the
      remainder of FCF available for debt reduction.  The company
      has a 50% excess cash flow sweep in the senior secured
      credit facilities and Fitch expects more than $50 million of

      annual FCF beyond fiscal 2017, the vast majority of which
      onshore.  As a result, Fitch expects FFO adjusted leverage
      approaching 7x exiting fiscal 2018 and mid-5x exiting fiscal

      2019.

   -- Significant Product Cyclicality: Fitch expects three to five

      year product cycles will drive uneven revenue growth for the

      Product segment, which is comprised of the physical devices
      providing DDI services and will represent a lower but still
      significant portion of the overall sales mix.  Product
      refreshes increase density or performance features and drive

      customer replacement and capacity additions.  Fitch expects
      Product sales in fiscal 2017 will be down by mid-teens after

      robust growth in fiscal 2015 (+20%) and 2016 (mid-teens).
      Over the intermediate-term, Fitch expects low single digit
      growth for the Product segment, driven mainly by expanding
      relationships with existing customers and tempered by
      marginal shifts to subscription services.  Given faster
      growing maintenance revenue, Fitch expects Product sales to
      decline to 40% of total revenue over the intermediate term
      from 50% in fiscal 2016.

   -- Secular Tailwinds Drive Growth: Fitch expects increasing
      complexity will drive growth through at least the
      intermediate-term.  Greater complexity from network
      automation and development and operations (DevOps), security

      attacks, hybrid cloud and software defined networking (SDN),

      all within the context of more users and connected devices
      will drive explosive URL and IP address growth.  DDI market,

      including that for external authoritative DNS as-a-service
      (DNSaaS), Service Provider DDI and Enterprise DDI, should
      grow by at least high single digits through the
      intermediate-term.  Infoblox's mission critical services tie

      systems together, providing mission critical integration and

      automation.  DNS vector security attacks are increasingly
      common, supporting demand for Infoblox DNS Security products

      attach aimed at preventing DNS tunnelling and data
      exfiltration.

   -- Threat of Larger Entrants: Fitch believes larger players
      seeking growth in SDN and security could enter the DDI
      market via acquisition, potentially weakening Infoblox's
      operating profile.  The DDI market is relatively small but
      with attractive demand characteristics, particularly for
      technology providers with more focused DNS product
      portfolios, focus on unique standards or industry or
      customer sets.  Fitch believes bundling DNS services with a
      broad set of service offerings and leveraging over global
      sales footprint could meaningfully impact industry pricing
      and profitability.

                         KEY ASSUMPTIONS

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

   -- Product revenue declines by mid- to high-teens following the

      impact of the recent product refresh cycle, followed by flat

      growth in fiscal 2018. Fitch assumes a next generation
      product refresh in fiscal 2019.

   -- Maintenance revenue continues growing in the high single
      digits, given high attach and renewal rates.

   -- Subscription DDI and DNS Security grow significantly from a
      small base to begin meaningfully contributing in fiscal 2019

      (approaching 15% of total revenue).

   -- Deferred revenue balances grow in-line with maintenance and
      support revenue, supporting cash flow.

   -- Infoblox achieves cost synergies in the near term resulting
      in profit margin expansion but sales and marketing expense
      tick-up in fiscal 2019 to support revenue growth.

   -- Incremental cost savings from restructuring following the
      deal close are reinvested.

   -- Management will use FCF for debt reduction, given
      expectations that acquisitions will be tuck-in in nature and

      funded organically.

                       RATING SENSITIVITIES

Positive rating action could occur if Fitch expects:

   -- FCF approaching $100 million, driven by solid revenue and
      deferred revenue growth, supporting strong DNS Security
      attach and subscription adoption; and

   -- Total debt to EBITDA (excluding changes in deferred revenue)

      approaching 6x and FFO adjusted leverage approaching 5x from

      voluntary debt reduction and growing profitability.

A negative rating action could occur if Fitch expects:

   -- Meaningfully lower than expected revenue growth from more
      aggressively priced or competitive service offerings,
      potentially due to larger competitors entering DDI and
      leveraging larger sales footprints; or

   -- No meaningful improvement in FFO adjusted leverage from weak

      profitability growth resulting in FCF approaching break-even

      and constraining debt reduction.

                              LIQUIDITY

Pro forma the close of acquisition, Fitch believes Infoblox's
liquidity is adequate and will consist of:

   -- $50 million of cash on hand, $11.2 million of which is
      located outside the U.S.; and

   -- An undrawn $50 million senior secured RCF expiring 2021.

Fitch's expectation for more than $50 million of annual FCF beyond
fiscal 2017 also supports liquidity.

Pro forma for the transaction, total debt will be $750 and consist
of:

   -- $500 million of senior secured 1st-lien term loans;
   -- $250 million of senior secured 2nd-lien term loans.

On Sept. 16, 2016, Infoblox announced it is being acquired by
private equity firm, Vista Equity Partners (Vista), in an all-cash
going private transaction valued at approximately $1.3 billion.
Vista plans to fund the acquisition with $750 million of debt, $212
million of Infoblox's available cash at closing and $664 million of
new equity from Vista.  Infoblox's Board of Directors has approved
the acquisition and Vista and Infoblox expect the deal will close
in the second fiscal quarter ended January 2017, pending customary
approvals.  Infoblox is a leading provider of mission critical DDI
services.

In connection with the acquisition, Infoblox will enter into $800
million of credit facilities comprised of $50 million 1st-lien
senior secured RCF, which will be undrawn at closing, $500 million
of 1st-lien senior secured Term Loans and $250 million of 2nd-lien
senior secured Term Loans.  The 1st-lien RCF and Term Loans will be
secured by a 1st-priority lien on the collateral, which includes
substantially all assets of Infoblox and its domestic subsidiaries,
which hold the company's intellectual property.  The 2nd-lien Term
Loans will be secured by a 2nd-priority lien on the collateral.
Fitch expects no financial covenants but customary negative
covenants for the credit facilities, including limitations on
indebtedness, liens, restricted payments and asset sales.

FULL LIST OF RATING ACTIONS

Infoblox Inc.

   -- Long-Term Issuer Default Rating (IDR) at 'B';
   -- 1st-Lien Senior Secured Revolving Credit Facility (RCF) at
      'BB-/RR2';
   -- 1st-Lien Senior Secured Term Loans at 'BB-/RR2';
   -- 2nd-Lien Senior Secured Term Loans at 'CCC+/RR6'.

The Rating Outlook is Stable.



INT'L HOUSE OF PRAYER: Hires Richard B. Rosenblatt as Attorney
--------------------------------------------------------------
International House of Prayer For All People, Inc., seeks authority
from the U.S. Bankruptcy Court for the District of Columbia to
employ the Law Offices of Richard B. Rosenblatt, P.C. as attorneys
to the Debtor.

Int'l House of Prayer requires Richard B. Rosenblatt to:

   a. give the Debtor legal advice with respect to its powers and
      duties as Debtor-in-Possession;

   b. prepare, as necessary, applications, answers, orders,
      reports and other legal papers filed by the Debtor;

   c. prepare a Disclosure Statement and Plan of Reorganization;
      and

   d. perform all other legal services for the Debtor which may
      be necessary herein.

Richard B. Rosenblatt will be paid at these hourly rates:

     Richard B. Rosenblatt           $350
     Linda M. Dorney                 $350
     Other Attorney                  $295
     Paralegal                       $125

Richard B. Rosenblatt will be paid a retainer in the amount of
$5,783.

Richard B. Rosenblatt will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Richard B. Rosenblatt, member of the Law Offices of Richard B.
Rosenblatt, P.C., 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 Debtor and its estates.

Richard B. Rosenblatt can be reached at:

     Richard B. Rosenblatt, Esq.
     THE LAW OFFICES OF RICHARD B. ROSENBLATT, PC.
     30 Courthouse Square, Suite 302
     Rockville, MD 20850
     Tel: (301) 838-0098
     E-mail: rrosenblatt@rosenblattlaw.com

                     About International House

International House of Prayer for All People, Inc., based in
Washington, DC, filed a Chapter 11 petition (Bankr. D.C. Case No.
16-00545) on October 19, 2016.  Richard B. Rosenblatt, Esq. at the
Law Offices of Richard B. Rosenblatt, P.C., serves as bankruptcy
counsel.

In its petition, the Debtor estimated $1 million to $10 million in
assets and $500,000 to $1 million in liabilities. The petition was
signed by Monreti Akinleye, vice chairman.


INTEGRATED FREIGHT: In Default Under Loans from Hillair et al.
--------------------------------------------------------------
Integrated Freight Corporation disclosed in a Form 8-K Filing with
the Securities and Exchange Commission that the Company and/or
certain of its subsidiaries are in default under various loan and
note obligations:

In March 2010, Integrated Freight Corporation received a loan from
Eric Snyder for $100,000 and, subsequently, an additional $15,000.
Both loans were guaranteed by the Company's former CEO and both
have been in default since 2011.  Snyder filed suit against the
Company and its former CEO in Manatee County, FL in December 2015.
In May 2016, a final judgment was entered for $231,950.

In 2011, as a lender to the Company, Hillair Capital partially
funded the Company's acquisition of Cross Creek Trucking and a
portion of the Company's working capital requirements via two notes
totaling $339,660.  Hillair initially sought $1,200,000 in
unspecified damages in New York State.  In 2014, the Company
settled with Hillair for $400,000 payable $100,000 down and
$300,000 paid pro rata over the following three year period.  
Under the court order, the Company became in default of the
agreement by its terms.  In the event of a default, Hillair's
recovery was limited by the Court to $450,000.  The Company
continues to discuss with Hillair an economic resolution of the
matter and has booked the full defaulted amount with interest of
$606,736.  

As a lender, Luberski, Inc. loaned the Company $400,000, via two
Notes in 2011.  The Company defaulted on both loans and Luberski
ultimately received a judgment against one of its subsidiaries.  In
2015, the Company and Luberski agreed to economic terms but have
not executed contracts regarding the settlement.  The Company
booked reserves equivalent to the debt outstanding plus interest
and fees of $686,905.   

In January 2013, Robins Consulting, Inc. filed suit against the
Company and its former CEO for $572,000 in broker fees related to
the acquisition of Cross Creek Trucking and in December 2014
received a judgment.  The Company has filed counter claims, and a
bill of review to overturn the judgment.  In addition, the Company
has filed suit against Robins for its role in the failed
acquisition of Cross Creek Trucking.  The $572,500 in fees is
included in the Company's notes payable at March 2016 and, together
with accrued interest, is $979,878.  As a subsequent event, Robins
executed a foreign judgment and received collections, via
garnishment, of approximately $50,000.

In 2012, Chapman and Associates sued the Company for broker fees
related to their introduction of two acquired subsidiaries of the
Company and received a judgment for approximately $900,000.  In
March 2015, the Company and Chapman settled this judgment utilizing
a combination of cash and stock.  Through March 2016, the Company
has paid Chapman 15 million shares of its common stock and $40,000
of the $170,000 cash portion of the settlement.  

In April 2012, the Company entered into a forbearance agreement
with Michael S. DeSimone, former owner of Cross Creek Trucking.  As
part of the agreement the Company issued a confession of judgment
in the amount of $3,745,415 plus accrued interest.  The Company
agreed to pay $5,000 per month commencing Sept. 1, 2012, but were
unable to maintain payments as established under the agreement.  At
March 2016, the parties agreed to reduce accrued interest and
further discussions on settlement.

The Nutmeg/Fortuna Fund litigation is a collection action based on
a 2008 promissory note and the Company has reserved $175,000.  In
March 2015 the Company settled with Nutmeg Fortuna utilizing a cash
down payment and a short term note.  At March 2016, the balance is
$167,000.

In 2014, a lender funded the Company and provided net proceeds of
$195,333.  The lender subsequently sued and received a judgment in
2015 due to default under the terms of the agreement.  In 2015, the
parties agreed to a settlement.  Ultimately, the Company became in
default of the terms, however, the lender has expressed a
willingness to negotiate revised payment terms.   At March 2016,
the final terms of an agreement have not been reached and the
Company carries $195,333 on its books.

In 2014 a subsidiary of the Company reached agreement on a three
million-dollar ($3,000,000) line of credit with a lender for the
purposes of acquiring American Transportation and Logistics as well
as other regional truckload motor carriers.  The Company's
subsidiary drew down $500,000 to fund the acquisition of American
Transportation, a carrier in New England.   The lender issued a
notice of default that became cured and then defaulted in 2015.  
The Company and the lender are negotiating a settlement of this
dispute.

In May 2016 the former owners of Smith Systems Transport, a wholly
owned subsidiary of the Company, filed suit in the District Court
of Lancaster County Nebraska claiming that the September 2008 sale
of Smith to the Company should be rescinded.  The Company is
aggressively defending this case and is confident that it will
prevail, as the former owner was a member of our Board of Directors
and the President of this wholly owned subsidiary.

In May 2016, the Company was made aware of a judgment claim in
excess of $8,000,000 with a seller and former manager of a defunct
subsidiary.   The Company believes the judgment was fraudulently
attained and held weekly discussions with counsel for the creditor
through July 2016.  The Company has booked a reserve of $150,000
relating to this claim.

                    About Integrated Freight

Integrated Freight Corporation, formerly PlanGraphics, Inc., (OTC
BB: IFCR) -- http://www.integrated-freight.com/-- is a Sarasota,
Florida-headquartered motor freight company providing long-haul,
regional and local service to its customers.  The Company
specializes in dry freight, refrigerated freight and haz-waste
truckload services, operating primarily in well-established
traffic lanes in the upper mid-West, Texas, California and the
Atlantic seaboard.  IFCR was formed for the purpose of acquiring
and consolidating operating motor freight companies.

Integrated Freight reported a net loss of $1.43 million on $20.2
million of revenue for the year ended March 31, 2014, compared with
net income of $4.81 million on $20.1 million of revenue for the
year ended March 31, 2013.

As of Dec. 31, 2014, the Company had $4.30 million in total assets,
$16.7 million in total liabilities, and a $12.4 million total
stockholders' deficit.

DKM Certified Public Accountants, in Clearwater, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2014, citing that the
Company has significant net losses and cash flow deficiencies.
Those conditions raise substantial doubt about the Company's
ability to continue as a going concern.


KAISER GYPSUM: Future Claimants' Hires Ankura as Consultant
-----------------------------------------------------------
Lawrence Fitzpatrick, the Future Claimants' Representative, in the
case of Kaiser Gypsum Company, Inc., et al., seeks authority from
the U.S. Bankruptcy Court for the Western District of North
Carolina to employ Ankura Consulting Group, LLC as claims
evaluation consultant to Mr. Fitzpatrick.

Mr. Fitzpatrick requires Ankura to:

   a. estimate the number and value of present and future
      asbestos personal injury claims and demands;

   b. provide development of claims procedures to be used in
      connection with a claims resolution trust; and

   c. analyze and respond to issues relating to providing notice
      to personal injury claimants and reviewing such notice
      procedures.

Ankura will be paid at these hourly rates:

     Senior Managing Directors         $500-$750
     Managing Directors                $450-$500
     Senior Directors                  $400-$450
     Directors                         $350-$400
     Senior Associates/Associates      $250-$350

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

Dr. Thomas Vasquez, member of Ankura Consulting Group, LLC, assured
the Court that the firm is a "disinterested person" as that term is
defined in section 101(14) of the Bankruptcy Code, and used in
section 327(a) of the Bankruptcy Code.

Ankura can be reached at:

     Dr. Thomas Vasquez
     ANKURA CONSULTING GROUP, LLC
     1220 19th Street, NW, Suite 700
     Washington, DC 20036
     Tel: (202) 797-1111

                       About Kaiser Gypsum

Kaiser Gypsum Company, Inc. and affiliate Hanson Permanente Cement,
Inc. sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D.N.C. Case Nos. 16-31602 and 16-10414) on September 30,
2016. The petitions were signed by Charles E. McChesney, II,
vice-president and secretary.  At the time of the filing, the
companies estimated their assets and liabilities at $100 million to
$500 million.

Kaiser's principal business consisted of manufacturing and
marketing gypsum plaster, gypsum lath and gypsum wallboard. The
company has no current business operations other than managing its
legacy asbestos-related and environmental liabilities. The company
has no material tangible assets.

HPCI's primary business was the manufacture and sale of Portland
cement products. It is a wholly-owned, indirect subsidiary of
non-debtor Lehigh Hanson, Inc.

HPCI is the direct parent of Kaiser Gypsum as well as non-debtor
Hanson Micronesia Cement, Inc. and non-debtor Hanson Permanente
Cement of Guam, Inc., the operating subsidiaries. Non-debtor
Permanente Cement Company, which has no assets or operations, is
also a wholly-owned subsidiary of HPCI.

The Debtors are represented by Rayburn Cooper & Durham P.A. and
Jones Day.

The Office of the U.S. Trustee on Oct. 14 appointed three creditors
to serve on the official committee of unsecured creditors.

Lawrence Fitzpatrick has been named as the Future Claimants'
Representative.


KAISER GYPSUM: Future Claimants' Hires Young Conaway as Attorney
----------------------------------------------------------------
Lawrence Fitzpatrick, the Future Claimants' Representative, in the
case of Kaiser Gypsum Company, Inc., et al., seeks authority from
the U.S. Bankruptcy Court for the Western District of North
Carolina to employ Young Conaway Stargatt & Taylor, LLP as attorney
to Mr. Fitzpatrick.

Mr. Fitzpatrick requires Young Conaway to:

   a. provide legal advice with respect to the Future Claimants'
      Representative's powers and duties as Future Claimants'
      Representative for the Future Claimants;

   b. take any and all actions necessary to protect and maximize
      the value of the Debtors' estates for the purpose of making
      distributions to Future Claimants and to represent the
      Future Claimants' Representative in connection with
      negotiating, formulating, drafting, confirming and
      implementing a plan of reorganization, and performing such
      other functions as are set forth in section 1103(c) of the
      Bankruptcy Code or as are reasonably necessary to
      effectively represent the interests of the Future
      Claimants;

   c. appear on behalf of the Future Claimants' Representative at
      hearings, proceedings before the Court, and meetings and
      other proceedings in these chapter 11 cases, as
      appropriate;

   d. prepare and file, on behalf of the Future Claimants'
      Representative, all applications, motions, objections,
      answers, orders, reports, and other legal papers as may be
      necessary and as may be authorized by the Future Claimants'
      Representative in connection with the cases;

   e. represent and advise the Future Claimants' Representative
      with respect to any contested matter, adversary proceeding,
      lawsuit or other proceeding in which the FCR may become a
      party or otherwise appear in connection with the chapter
      11 cases; and

   f. perform any other legal services and other support
      requested by the Future Claimants' Representative in
      connection with the cases.

Young Conaway will be paid at these hourly rates:

     James L. Patton, Jr., Partner             $1,135
     Edwin J. Harron, Partner                  $780
     Sharon M. Zieg, Partner                   $660
     Sara Beth A.R. Kohut, Counsel             $530
     Elizabeth S. Justison,                    $370
     Shane M. Reil, Associate                  $345
     Casey S. Cathcart, Paralegal              $235
     Lisa M. Eden, Paralegal                   $210

During the 90-days before the Petition Date, Young Conaway received
and placed into a trust account $100,000 from the Debtors as a
retainer for Mr. Fitzpatrick and Young Conaway. Mr. Fitzpatrick was
paid $5,498.70 from the retainer as compensation for pre-petition
fees of $5,300 and expenses of $198.70, and Young Conaway was paid
$30,756.53 from the retainer as compensation for pre-petition fees
of $30,079.50 and expenses of $677.03.

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

Edwin J. Harron, member of Young Conaway Stargatt & Taylor, 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 (a)
are not creditors, equity security holders or insiders of the
Debtor; (b) have not been, within two years before the date of the
filing of the Debtor's chapter 11 petition, directors, officers or
employees of the Debtor; and (c) do not have an interest materially
adverse to the interest of the estate or of any class of creditors
or equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtor, or
for any other reason.

Young Conaway can be reached at:

     James L. Patton, Jr., Esq.
     Edwin J. Harron, Esq.
     Sharon M. Zieg, Esq.
     Sara Beth A.R. Kohut, Esq.
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Tel: (302) 571-6600
     Fax: (302) 571-1253
     Email: jpatton@ycst.com
            eharron @ycst.com
            szieg@ycst.com
            skohut@ycst.com

                       About Kaiser Gypsum

Kaiser Gypsum Company, Inc. and affiliate Hanson Permanente Cement,
Inc. sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D.N.C. Case Nos. 16-31602 and 16-10414) on September 30,
2016. The petitions were signed by Charles E. McChesney, II,
vice-president and secretary.  At the time of the filing, the
companies estimated their assets and liabilities at $100 million to
$500 million.

Kaiser's principal business consisted of manufacturing and
marketing gypsum plaster, gypsum lath and gypsum wallboard. The
company has no current business operations other than managing its
legacy asbestos-related and environmental liabilities. The company
has no material tangible assets.

HPCI's primary business was the manufacture and sale of Portland
cement products. It is a wholly-owned, indirect subsidiary of
non-debtor Lehigh Hanson, Inc.

HPCI is the direct parent of Kaiser Gypsum as well as non-debtor
Hanson Micronesia Cement, Inc. and non-debtor Hanson Permanente
Cement of Guam, Inc., the operating subsidiaries. Non-debtor
Permanente Cement Company, which has no assets or operations, is
also a wholly-owned subsidiary of HPCI.

The Debtors are represented by Rayburn Cooper & Durham P.A. and
Jones Day.

The Office of the U.S. Trustee on Oct. 14 appointed three creditors
to serve on the official committee of unsecured creditors.

Lawrence Fitzpatrick has been named as the Future Claimants'
Representative.


KAISER GYPSUM: Futures Rep Hires Hull & Chandler as Local Counsel
-----------------------------------------------------------------
Lawrence Fitzpatrick, the Future Claimants' Representative, in the
case of Kaiser Gypsum Company, Inc., et al., seeks authority from
the U.S. Bankruptcy Court for the Western District of North
Carolina to employ Hull & Chandler, P.A. as local counsel to Mr.
Fitzpatrick.

Mr. Fitzpatrick requires Hull to:

   a. provide legal advice with respect to the Future Claimants'
      Representative's powers and duties as Future Claimants'
      Representative for the Future Claimants;

   b. take any and all actions necessary to protect and maximize
      the value of the Debtors' estates for the purpose of making
      distributions to Future Claimants and to represent the
      Future Claimants' Representative in connection with
      negotiating, formulating, drafting, confirming and
      implementing a plan of reorganization, and performing such
      other functions as are set forth in section 1103(c) of the
      Bankruptcy Code or as are reasonably necessary to
      effectively represent the interests of the Future
      Claimants;

   c. appear on behalf of the Future Claimants' Representative at
      hearings, proceedings before the Court, and meetings and
      other proceedings in these chapter 11 cases, as
      appropriate;

   d. prepare and file, on behalf of the Future Claimants'
      Representative, all applications, motions, objections,
      answers, orders, reports, and other legal papers as may be
      necessary and as may be authorized by the Future Claimants'
      Representative in connection with the cases;

   e. represent and advise the Future Claimants' Representative
      with respect to any contested matter, adversary proceeding,
      lawsuit or other proceeding in which the FCR may become a
      party or otherwise appear in connection with the chapter
      11 cases; and

   f. perform any other legal services and other support
      requested by the Future Claimants' Representative in
      connection with the cases.

Hull will be paid at these hourly rates:

     Felton Parrish          $425
     Attorneys               $250-$425
     Paralegals              $100

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

Felton Parrish, member of Hull & Chandler, P.A., assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and (a) are not creditors,
equity security holders or insiders of the Debtor; (b) have not
been, within two years before the date of the filing of the
Debtor's chapter 11 petition, directors, officers or employees of
the Debtor; and (c) do not have an interest materially adverse to
the interest of the estate or of any class of creditors or equity
security holders, by reason of any direct or indirect relationship
to, connection with, or interest in, the Debtor, or for any other
reason.

Hull can be reached at:

     Felton E. Parrish, Esq.
     HULL & CHANDLER, P.A.
     1001 Morehead Square Drive, Suite 450
     Charlotte, NC 28203
     Tel: 704-375-8488
     Fax: 704-375-8487
     E-mail: fparrish@lawyercarolina.com

                       About Kaiser Gypsum

Kaiser Gypsum Company, Inc. and affiliate Hanson Permanente Cement,
Inc. sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D.N.C. Case Nos. 16-31602 and 16-10414) on September 30,
2016. The petitions were signed by Charles E. McChesney, II,
vice-president and secretary.  At the time of the filing, the
companies estimated their assets and liabilities at $100 million to
$500 million.

Kaiser's principal business consisted of manufacturing and
marketing gypsum plaster, gypsum lath and gypsum wallboard. The
company has no current business operations other than managing its
legacy asbestos-related and environmental liabilities. The company
has no material tangible assets.

HPCI's primary business was the manufacture and sale of Portland
cement products. It is a wholly-owned, indirect subsidiary of
non-debtor Lehigh Hanson, Inc.

HPCI is the direct parent of Kaiser Gypsum as well as non-debtor
Hanson Micronesia Cement, Inc. and non-debtor Hanson Permanente
Cement of Guam, Inc., the operating subsidiaries. Non-debtor
Permanente Cement Company, which has no assets or operations, is
also a wholly-owned subsidiary of HPCI.

The Debtors are represented by Rayburn Cooper & Durham P.A. and
Jones Day.

The Office of the U.S. Trustee on Oct. 14 appointed three creditors
to serve on the official committee of unsecured creditors.

Lawrence Fitzpatrick has been named as the Future Claimants'
Representative.


KEY ENERGY: Sullivan, Cleary & Morris Representing Ad Hoc Committee
-------------------------------------------------------------------
Sullivan & Cromwell LLP, Cleary Gottlieb Steen & Hamilton LLP, and
Morris, Nichols, Arsht & Tunnell LLP filed with the U.S. Bankruptcy
Court for the District of Delaware a verified statement pursuant to
rule 2019 of the Federal Rules of Bankruptcy Procedure in
connection with their representation of the Ad Hoc Committee of
Supporting Noteholders comprised of the holders and investment
advisors or managers of the holders of:

   (a) $611,686,000 in principal amount of 6.75% Senior Notes due
2021 issued by Key Energy Services, Inc., pursuant to that certain
Indenture dated as of March 4, 2011, by and among Key, the
guarantors and The Bank of New York Mellon Trust Company, N.A., as
trustee;

   (b) $119,883,334 in term loans outstanding under that certain
Term Loan and Security Agreement dated as of June 1, 2015,  by and
among Key, as borrower, the guarantors named therein and the
lenders, and

   (c) 500,000 shares of Key's existing common stock.

In January 2016, certain members of the Supporting Noteholders
Committee retained S&C in connection with a reorganization
involving Key and its direct and indirect subsidiaries.2 From time
to thereafter, certain additional Supporting Noteholders have
joined the Supporting Noteholders Committee.  

In February 2016, the Supporting Noteholders Committee, with the
exclusion of Soter Capital, LLC, retained Cleary in connection with
a reorganization involving Key and its direct and indirect
subsidiaries.

In August 2016, the Supporting Noteholders Committee retained MNAT
to serve as Delaware counsel in connection with a reorganization
involving Key and its direct and indirect subsidiaries.

As of the date of this Verified Statement, Counsel represents only
the Supporting Noteholders Committee and does not represent or
purport to represent any entities other than the Supporting
Noteholders Committee in connection with the Debtors' Chapter 11
cases.  In addition, the Supporting Noteholders Committee does not
represent or purport to represent any other entities in connection
with the Debtors' Chapter 11 cases.

The members of the Supporting Noteholders Committee hold
disclosable economic interests or act as investment managers or
advisors 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 Supporting Noteholders Committee, the list of
the names, addresses and the nature and amount of all disclosable
economic interests of each member of the Supporting Noteholders
Committee in relation to the Debtors is available at:

                     https://is.gd/YAs20x

Although the members of the Supporting Noteholders Committee have
Hired S&C, Cleary and MNAT to represent their interests as holders
of Senior Notes and Term Loans, as the case may be, each member of
the Supporting Noteholders Committee makes its own decisions as  to
how it wishes to proceed and does not speak for, or on behalf of,
any other creditor, including one another or the other members of
the Supporting Noteholders Committee in their individual
capacities.

Upon information and belief formed after due inquiry, none of S&C,
Cleary or MNAT holds any claim against, or interests in, the
Debtors or their estates, other than claims for fees incurred in
representing the Supporting Noteholders Committee.

The Counsel for the Ad Hoc Committee of Supporting Noteholders can
be reached at:

     Robert J. Dehney, Esq.
     Eric D. Schwartz, Esq.
     Andrew R. Remming, Esq.
     Andrew J. Roth-Moore, Esq.
     MORRIS, NICHOLS, ARSHT & TUNNELL LLP
     1201 North Market Street
     P.O. Box 1347
     Wilmington, DE 19899-1347
     Tel: (302) 658-9200
     Fax: (302) 658-3989
     E-mail: rdehney@mnat.com
             eschwartz@mnat.com
             aremming@mnat.com
             aroth-moore@mnat.com

          -- and --

     Michael H. Torkin, Esq.
     David J. Jakus, Esq.
     SULLIVAN & CROMWELL LLP
     125 Broad Street
     New York, NY 10004
     Tel: (212) 558-4000
     Fax: (212) 558-3588
     E-mail: torkinm@sullcrom.com
             jakusd@sullcrom.com

          -- and --

     Sean A. O'Neal, Esq.
     Humayun Khalid, Esq.
     CLEARY GOTTLIEB STEEN & HAMILTON LLP
     One Liberty Plaza
     New York, NY 10006
     Tel: (212) 225-2000
     Fax: (212) 225-3999
     E-mail: soneal@cgsh.com
             hkhalid@cgsh.com

                        About Key Energy

Headquartered in Houston, Texas, Key Energy, Inc., claims to be the
largest domestic onshore, rig-based well servicing contractor based
on the number of rigs owned.  The Company, which currently has
approximately 2,900 employees, provides a full range of well
services to major oil companies, foreign national oil companies and
independent oil and natural gas production companies including
Chevron Texaco Exploration and Production.

Key was organized in April 1977 and commenced operations in July
1978 under the name National Environmental Group, Inc.  In December
1992, the Company's name was changed to "Key Energy Group, Inc."
and then was subsequently changed to "Key Energy Services, Inc." in
December 1998.

The Debtors own approximately 880 rigs of various sizes,
approximately 2,500 trucks and similar vehicles, and thousands of
pieces of other equipment related to their businesses.  The Debtors
also own more than 135 pieces of real estate, including, among
other things, various permitted disposal wells for disposal of
saltwater and other fluid byproducts.  In addition, the Debtors own
certain patents and other intellectual property.

Each of Misr Key Energy Investments, LLC, Key Energy Services,
Inc., Key Energy Services, LLC, and Misr Key Energy Services, LLC,
filed a voluntary petition under Chapter 11 of the Bankruptcy Code
on Oct. 24, 2016 (Bankr. D. Del. Proposed Lead Case No. 16-12306).

Key's other domestic and foreign subsidiaries are not part of the
bankruptcy filing.

As of the second quarter of 2016, the Company had approximately
$1.13 billion in total assets and approximately $1 billion in
aggregate funded debt.  As of the date of the Petition Date, the
Debtors hold approximately $29.8 million in encumbered,
unrestricted cash.  The Debtors currently have approximately $13.4
million of trade debt and other debt owed to general unsecured
creditors, as disclosed in court papers.

The Debtors have hired Sidley Austin LLP as general bankruptcy
counsel; Young, Conaway, Stargatt & Taylor, LLP, as Delaware
counsel; PJT Partners LP as investment bankers; Alvarez and Marsal
North America, LLC, as financial advisors; and Epiq Bankruptcy
Solutions, LLC, as notice, claims, solicitation and voting agent.


KIRK'S FRAMING: Hires Debra J. Hawkins as Accountant
----------------------------------------------------
Kirk's Framing, Inc., seeks authority from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Debra J.
Hawkins, CPA, LLC as accountant to the Debtor.

Kirk's Framing requires Debra J. Hawkins to:

   a. prepare the Debtor's monthly operating reports; and

   b. prepare other financial reports, accounting reconciliation,
      income tax preparation, and other tax consulting.

Debra J. Hawkins will be paid at the hourly rate of $100 to prepare
the Debtor's monthly operating reports.

Debra J. Hawkins will be paid a flat monthly fee of $405 to prepare
other financial reports, accounting reconciliation, income tax
preparation, and other tax consulting.

Debra J. Hawkins, member of Debra J. Hawkins, CPA, 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 Debtor and its estates.

Debra J. Hawkins can be reached at:

     Debra J. Hawkins
     DEBRA J. HAWKINS, CPA, LLC
     8833 Spring Harvest Lane E
     Jacksonville, FL 32244

                    About Kirk's Framing Inc.

Kirk's Framing Inc. filed a chapter 11 petition (Bankr. M.D. Fla.
Case No. 3:16-bk-03390-JAF) on September 6, 2016, disclosing under
$1 million in both assets and liabilities.  The Debtor is
represented by Thomas C. Adam, Esq.

The Debtor is a Florida corporation based in Orange Park, Florida.
The Debtor is in the business of design and construction of wood
framing of residential real properties in Clay, Duval, St. Johns
and Nassau counties. The Debtor's services include floor joist,
roof, steps, and zipwall installations.



LADERA LLC: RWN1H-DL to Auction Property on November 29
-------------------------------------------------------
RWN1H-DL 122nd Street LLC has engaged Eastdil Secured LLC to offer
for sale at public auction these property:

All right, title and interest of Ladera Parent LLC, in and 100% of
the limited liability company membership interests in Ladera LLC,
together with all of the other "collateral" as such term is defined
in that certain amended and restated pledge and security agreement
dated as of Aug. 28, 2015, made by Ladera Parent in favor of
RN1H-DL.

The sale will take place at 10:00 a.m., on Nov. 29, 2016, at the
offices of Greenberg Traurig LLP, 200 Park Avenue, New York, New
York.

Prospective bidders may obtain additional information by visiting
the website at:

https://www.eastdilsecured.com/offerings/public/THW16/300West122ndStreet.htm

or by contacting:

   Jean Celectin, Jr.
   Managing Director
   Eastdil Secured
   40 West 57th, 2nd Floor
   New York, New York 10019
   Tel: 212-315-7200
   Fax: 212-315-3502
   Email: ES300122@eastdilsecured.com


LEGACY RESERVES: Inks $300MM Loan Agreement with Cortland Capital
-----------------------------------------------------------------
Legacy Reserves LP entered into a Term Loan Credit Agreement among
the Partnership, as borrower, Cortland Capital Market Services LLC,
as administrative agent and second lien collateral agent, and the
lenders party thereto, providing for term loans up to an aggregate
principal amount of $300 million.  GSO Capital Partners L.P. and
certain funds and accounts managed, advised or sub-advised, by GSO
are the initial lenders thereunder.  

The Second Lien Term Loans are secured on a second lien priority
basis by the same collateral that secures the Partnership's Credit
Agreement and are unconditionally guaranteed on a joint and several
basis by the same wholly owned subsidiaries of the Partnership that
are guarantors under the Partnership's Credit Agreement.

The Partnership used the initial $60 million of gross loan proceeds
from its Second Lien Term Loan to repay outstanding indebtedness
and pay associated transaction expenses.  Additional Second Lien
Term Loans up to an aggregate amount of $240 million are available
at the Partnership's discretion for twelve months following the
date of the Second Lien Term Loan Credit Agreement. The Second Lien
Term Loans under the Second Lien Term Loan Credit Agreement will be
issued with an upfront fee of 2% and bear interest at a rate of
12.00% per annum payable quarterly in cash or, prior to the 18
month anniversary of the Second Lien Term Loan Credit Agreement,
the Partnership may elect to pay in kind up to 50% of the interest
payable.  The Second Lien Term Loans may be used for general
corporate purposes and for the repayment of outstanding
indebtedness, in any case as may be approved by the Partnership and
GSO (or the Majority Lenders in the event that GSO and its managed,
advised or sub-advised funds hold no Second Lien Term Loans).  For
the first 24 months following the effective date of the Second Lien
Term Loan Credit Agreement, GSO may not assign more than 49% of the
Second Lien Term Loans without the Partnership's consent.  The
Second Lien Term Loan Credit Agreement matures on Aug. 31, 2021;
provided that, if on July 1, 2020, the Partnership has greater than
or equal to a face amount of $15,000,000 of the Senior Notes
outstanding on the date the Second Lien Term Loan Credit Agreement
was entered into (or any other senior notes with a maturity date
that is earlier than Aug. 31, 2021), the Second Lien Term Loan
Credit Agreement will mature on Aug. 1, 2020.  The Second Lien Term
Loan Credit Agreement contains customary prepayment provisions and
make-whole premiums.

The Partnership will pay a quarterly fee of 0.250% on the average
daily amount of the unused commitments under the Second Lien Term
Loan Credit Agreement.

The Second Lien Term Loan Credit Agreement contains various
covenants that limit our ability to:

  * incur indebtedness;

  * make certain loans, acquisitions, capital expenditures and
    investments;

  * make cash distributions;

  * enter into certain leases;

  * grant certain liens;

  * enter into certain hedging agreements;

  * merge, consolidate or allow any material change in the
    character of our business;

  * engage in certain asset dispositions, including a sale of all
    or substantially all of our assets; or

  * reinvest the proceeds of asset dispositions.

The Second Lien Term Loan Credit Agreement also contains covenants
that, among other things, require the Company to maintain specified
ratios or conditions as follows:

  * not permit, beginning with the fiscal quarter ending June 30,
    2017, the ratio of the sum of (i) the net present value using
    NYMEX forward pricing, discounted at ten percent per annum, of
    the Partnership's proved developed producing oil and gas
    properties, (ii) the net mark to market value of the
    Partnership's swap agreements and (iii) the Partnership's cash
    and cash equivalents to Secured Debt to be less than 1.0 to
    1.0;

  * not permit, as of the last day of any fiscal quarter beginning
    with the fiscal quarter ending Dec. 31, 2018, the
    Partnership's ratio of Secured Debt as of such day to EBITDA
    for the four fiscal quarters then ending to be greater than
    4.50 to 1.00;

  * within 60 days after the date of the Second Lien Term Loan
    Credit Agreement, enter into hedging transactions covering at
    least 75% of the projected oil and natural gas production from
    Proved Developed Producing Properties for each month until the

    two year anniversary of the Second Lien Term Loan Credit
    Agreement;

  * the Partnership is required to mortgage 95% of the total value
    of all of its Oil and Gas Properties set forth in the most
    recently evaluated Reserve Report and grant a mortgage on
    certain identified undeveloped acreage in the Permian Basin;
    and

  * require the Partnership to grant a perfected security interest

    in its cash and securities accounts, subject to certain
    customary exceptions.

EBITDA is defined as net income (loss) plus (i) interest expense,
(ii) expense for income and income based taxes paid or accrued,
(iii) depreciation, depletion, amortization, accretion and
impairment, including without limitation, impairment of goodwill,
(iv) reasonable transaction expenses and fees in connection with
permitted financing, acquisition and divestiture activities, in an
aggregate amount not to exceed $5,000,000 in any four fiscal
quarter period, (v) minimum payments earned in excess of overriding
royalty interests and (vi) any non-cash items associated with (a)
mark to market accounting related to derivatives or investments,
(b) equity compensation and/or (c) any gains or losses attributable
to writeups or writedowns of assets, including ceiling test
writedowns; less, all non-cash items increasing net income, all on
a consolidated basis.

In connection with the Second Lien Term Loan Credit Agreement, GSO
has been granted a right to participate in up to 50% of certain
future debt and equity offerings of the Partnership prior to the
maturity date of the Second Lien Term Loan Credit Agreement.
Further, a customary intercreditor agreement was entered into by
Wells Fargo Bank, National Association, as priority lien agent, and
Cortland Capital Markets Services LLC, as junior lien agent and
acknowledged and accepted by the Partnership and the subsidiary
guarantors.  If an event of default exists under the Second Lien
Term Loan Credit Agreement, subject to the terms of the
Intercreditor Agreement, the lenders will be able to accelerate the
maturity of the Second Lien Term Loan Credit Agreement and exercise
other rights and remedies.

             Eighth Amendment to Credit Agreement

Effective Oct. 25, 2016, the Partnership entered into an amendment
to its secured Third Amended and Restated Credit Agreement dated as
of April 1, 2014, as amended, and filed on Form 8-K on April 2,
2014, with Wells Fargo Bank, National Association, as
administrative agent and certain other financial institutions party
thereto as lenders.  

The Eighth Amendment amends certain provisions set forth in the
Credit Agreement to, among other items:

  * permit the issuance and use of the Second Lien Term Loans
    pursuant to the Second Lien Term Loan Credit Agreement;

  * reduce the borrowing base from $630 million to $600 million;

  * not permit, as of the last day of any fiscal quarter beginning

    with the fiscal quarter ending Dec. 31, 2018, the
    Partnership's ratio of Secured Debt as of such day to EBITDA
    for the four fiscal quarters then ending to be greater than
    4.50 to 1.00;

  * not permit, as of the last day of any fiscal quarter, the
    Partnership's ratio of EBITDA for the four fiscal quarters
    then ending to Interest Expense for such period to be less
    than 2.00 to 1.00;

  * not permit, beginning with the fiscal quarter ending June 30,
    2017, the ratio of the sum of (i) the PDP PV-10, (ii) the net
    mark to market value of the Partnership's swap agreements and
   (iii) the Partnership's cash and cash equivalents to Secured
    Debt to be less than 1.0 to 1.0;

  * increase the percentage of the total value of the
    Partnership's Oil and Gas Properties required to be subject to
    a mortgage to 95% of the value or the most recently evaluated
    Reserve Report and grant a mortgage on certain identified
    undeveloped acreage in the Permian Basin;

  * require the Partnership to grant a perfected security interest

    in its cash and securities accounts, subject to certain
    customary exceptions; and

  * allow the Partnership to hedge on an unsecured basis with
    counterparties who (or whose credit support provider) have an
    issuer rating or whose long term senior unsecured debt rating
    of BBB-/Baa3.

                   Director Nomination Agreement

On Oct. 25, 2016, Legacy Reserves GP, LLC, the general partner of
the Partnership, entered into the Director Nomination Agreement, by
and among the General Partner and GSO.  Pursuant to the Director
Nomination Agreement, the size of the Board of Directors of the
General Partner will be increased from eight members to nine
members and the resulting vacancy will be filled with an individual
designated by GSO to serve on the Board.

D. Dwight Scott will serve as the initial designated director,
subject to approval and appointment by the Nominating, Governance
and Conflicts Committee and the Board.  Mr. Scott is expected to
serve as the Designated Director for an initial term that will
expire at the 2017 annual meeting of the Partnership's unitholders
or upon his death, disability or resignation, whichever is
earliest, and will be nominated to continue as the Designated
Director unless GSO chooses a successor Designated Director.
Mr. Scott is senior managing director of Blackstone Group L.P. and
Head of GSO's Energy business.

The Director Nomination Agreement will terminate upon the earlier
to occur of the Maturity Date of the Second Lien Term Loan Credit
Agreement and the date on which there are no Second Lien Term Loans
outstanding and all commitments under the Second Lien Term Loan
Credit Agreement are terminated.

                      About Legacy Reserves

Headquartered in Midland, Texas, Legacy Reserves is focused on the
acquisition and development of oil and natural gas properties
primarily located in the Permian Basin, East Texas, Rocky Mountain
and Mid-Continent regions of the United States.  The Company's
primary business objective has been to generate stable cash flows
to allow it to make cash distributions to its unitholders and to
support and increase quarterly cash distributions per unit over
time through a combination of acquisitions of new properties and
development of its existing oil and natural gas properties.

As of June 30, 2016, Legacy Reserves had $1.40 billion in total
assets, $1.51 billion in total liabilities and a total partners'
deficit of $116.11 million.

Legacy Reserves incurred a net loss attributable to unitholders of
$720.54 million in 2015, a net loss attributable to unitholders of
$295.33 million in 2014 and a net loss attributable to unitholders
of $35.27 million in 2013.

                        *    *     *

As of Sept. 30, 2016, S&P Global Ratings said that it lowered its
corporate credit rating on Legacy Reserves L.P. to 'CCC' from 'B-'.
The rating outlook is negative.  The downgrade reflects S&P's
expectation that the borrowing base on Legacy's revolving credit
facility could be lowered substantially at its redetermination in
October.

Legacy Reserves carries a Caa3 corporate family rating from
Moody's Investors Service.


LEGACY RESERVES: S&P Assigns 'CCC' Rating on New $300MM Loan
------------------------------------------------------------
S&P Global Ratings said it assigned a 'CCC' issue-level rating to
Legacy Reserves L.P.'s new $300 million second-lien term loan.  The
recovery rating is '4', reflecting S&P's expectation for average
(30% to 50%, upper half of the range) recovery in the event of
default.

At the same time, S&P lowered its issue-level rating on the
company's existing 6.625% and 8% senior unsecured notes to 'CC'
from 'CCC-' and revised the recovery to '6', reflecting S&P's
expectations of negligible (0% to 10% recovery) in the event of
default, from '5'.

The rating actions on Legacy are in conjunction with the Oct. 25,
2016, announcement that the company has completed a second-lien
term loan agreement with GSO Capital Partners L.P. to provide an
aggregate amount of up to $300 million.  Advances under the
second-lien term loan will be issued with an upfront fee of 2% bear
interest of 12% per year and mature, subject to certain conditions,
on Aug. 31, 2021.  In addition, Legacy has entered into an
amendment to its revolving credit agreement to permit the
second-lien term loan and includes a reduction of the borrowing
base to $600 million from $630 million.

RATINGS LIST

Legacy Reserves L.P.
Corporate credit rating                   CCC/Negative/--

New Ratings

Legacy Reserves L.P.
$300 million sr secd 2nd-lien term ln    CCC
  Recovery rating                         4H

Issue-Level Rating Lowered; Recovery Rating Revised
                                          To        From
Legacy Reserves L.P.
Legacy Reserves Finance Corp.
Senior unsecured                         CC        CCC-
  Recovery rating                         6         5L


LIBERTY ASSET: Hires Tisdale & Nicholson as Special Counsel
-----------------------------------------------------------
Liberty Asset Management Corporation, seeks authority from the U.S.
Bankruptcy Court for the Central District of California to employ
Tisdale & Nicholson LLP as special banking and regulatory counsel
to the Debtor.

The Debtor has an interest in 20 million shares of stock in Saigon
National Bank which has recently changed its name to California
International Bank, N.A.  The Bank is a local community bank whose
stock trades, in limited amounts, on the Pink Sheets.

Prior to the bankruptcy filing, certain disputes developed between
the Bank and Lucy Gao, who was the registered holder of the Stock
prior to a court approved transfer to the estate, which appears to
interfere with the ability to sell the Stock at fair market value.
T&N served as counsel for Ms. Gao pre-petition in connection with
the Stock and the dispute with the Bank.

Liberty Asset requires Tisdale & Nicholson to:

   a. advise the Debtor and its estate with respect to the formal
      transfer of the Stock from Ms. Lucy Gao to the Debtor;

   b. advise the Debtor and its estate with respect to any
      banking or regulatory requirements, including reporting;

   c. assist the Debtor and the estate in securing replacement
      certificates or other evidence of ownership of the Stock;

   d. assist the Debtor and the estate in connection with legal
      issues that may arise relating to the sale and disposition
      of Stock;

   e. assist the Debtor and the estate in analyzing claims and
      causes of action against the Bank, including its current
      and former management, with respect to the initial issuance
      of the Stock, and actions taken which violated the rights
      of the holder(s) of the Stock;

   f. commence and defend actions, as may be appropriate in
      connection with the Stock and the Bank; and

   g. take such further and additional actions as may be
      necessary and requested by the Debtor with respect to the
      Stock, the Bank and matters related thereto.

Tisdale & Nicholson will be paid at these hourly rates:

     Jeffrey A. Tisdale        $500
     Attorney                  $225-$600
     Paralegal                 $150-$225

Tisdale & Nicholson will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Jeffrey A. Tisdale, member of Tisdale & Nicholson 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 Debtor and its estates.

Tisdale & Nicholson can be reached at:

     Jeffrey A. Tisdale, Esq.
     TISDALE & NICHOLSON LLP
     2029 Century Park East, Suite 900
     Los Angeles, CA 90067
     Tel: (310) 286-1260
     Fax: (310) 286-2351

                       About Liberty Asset

West Covina, California-based Liberty Asset Management Corporation
filed for Chapter 11 protection (Bankr. C.D. Cal. Case No.
16-13575) on March 21, 2016. David B. Golubchik, Esq., at Leven
Neale Bender Yoo & Brill LLP, represents the Debtor in its
restructuring effort. The Debtor estimated assets at $100 million
to $500 million and debts at $50 million to $100 million. The
petition was signed by Benjamin Kirk, CEO.

The Office of the U.S. Trustee on April 27 appointed three
creditors of Liberty Asset Management Corp. to serve on the
official committee of unsecured creditors. The committee is
represented by Jeremy V. Richards, Esq., John D. Fiero, Esq., Gail
S. Greenwood, Esq., and Victoria A. Newmark, Esq., at Pachulski
Stang Ziehl & Jones LLP, in Los Angeles, California. Development
Specialists Inc. serves as the Committee's financial advisor.


LIQUIDMETAL TECHNOLOGIES: Raises $63.4MM from Hong Kong Firm
------------------------------------------------------------
Liquidmetal Technologies, Inc. finalized the additional closing
pursuant to its previously disclosed Securities Purchase Agreement,
dated March 10, 2016, with Liquidmetal Technology Limited, a Hong
Kong company owned by Professor Lugee Li.

At the additional closing, the Company issued and sold to Investor
an aggregate of 300,000,000 shares of Company's common stock for an
aggregate purchase price of $55,000,000, comprised of 200,000,000
shares at $0.15 per share and 100,000,000 shares at $0.25 per
share.  As a result of the additional closing, Investor has
completed its entire investment into the Company in the aggregate
amount of $63.4 million as contemplated by the Securities Purchase
Agreement.

The Company has appointed Professor Li as Chairman of the Board and
added two new members to the Company's Board of Directors, Mr.
Isaac Bresnick and Mr. Vincent Carrubba.  As a result of the
foregoing appointments, Mr. Abdi Mahamedi resigned as Chairman and
was appointed as Vice Chairman of the Board and Mr. Robert
Howard-Anderson resigned from the Board of Directors.

In addition, Mr. Robert Howard-Anderson resigned from the Board of
Directors effective as of the date of the Additional Closing.  Mr.
Howard-Anderson's resignation was not the result of any
disagreement with the Company on any matter relating to the
Company's operations, policies or practices.  In connection with
Mr. Howard-Anderson's resignation, his previously issued options to
purchase 1,210,000 shares of Company common stock were amended to
accelerate the vesting of such options and permit him to exercise
his options through the third anniversary of termination.

Professor Li is also the Chairman and majority shareholder of
EONTEC, a global manufacturing company headquartered in Hong Kong
with manufacturing plants in China.  It specializes in new material
development, such as bulk metallic glasses and medical grade
magnesium for implants.  EONTEC possesses a full set of mass
production capabilities for zirconium based amorphous alloys,
including material refining, tooling, and machining, surface
treatment, as well as equipment and machine building capabilities
for making large parts out of bulk metallic glass.

"Our investment in LQMT is complete and we can now fully
incorporate EONTEC's capabilities with LQMT's focus on production
of high-performance parts, allowing LQMT to address a broad range
of market opportunities from automotive, medical and industrial
customers.  I am truly excited for the future and look forward to
the possibilities," said Professor Li.

"Professor Li's unique expertise in metallurgical and materials
engineering and manufacturing is a substantial resource for the
company's Board of Directors and its vision and direction.
Professor Li is exceptionally qualified to take on the role of
Chairman and I look forward to supporting him and the Board for
future success," said Mr. Mahamedi.

Mr. Steipp, Company's CEO added; "The closing of the financing
transaction and collaboration with EONTEC will provide us with the
platform and resources necessary to establish Liquidmetal as a
global force in the revolutionary amorphous alloy solutions and to
fast-track the market development of its core technologies.  EONTEC
and Liquidmetal each bring significant capabilities to this
partnership and we look forward to an exciting 2017 and beyond."

Additional information is available for free at:

                      https://is.gd/L6CXIQ

                About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal reported a net loss and comprehensive loss of $7.31
million on $125,000 of total revenue for the year ended Dec. 31,
2015, compared to a net loss and comprehensive loss of $6.55
million on $603,000 of total revenue for the year ended Dec. 31,
2014.

As of June 30, 2016, Liquidmetal had $11.1 million in total
assets, $5.74 million in total liabilities and $5.36 million in
total shareholders' equity.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, stating that the Company has suffered
recurring losses from operations, has negative cash flows from
operations and has an accumulated deficit.  This raises substantial
doubt about the Company's ability to continue as a going concern.


MATTHEW HALPER: Court Denies Approval of Disclosure Statement
-------------------------------------------------------------
The Hon. John K. Olson of the U.S. Bankruptcy Court for the
Southern District of Florida has denied without prejudice approval
of Matthew Halper and Jeselie Halper's disclosure statement.

As reported by the Troubled Company Reporter on Sept. 20, 2016, the
Debtors on Aug. 30 filed with the Court a plan to exit Chapter 11
protection.  Under the proposed plan, Nissan Infinity, the only
Class 4 general unsecured creditor, will be paid its claim of
$3,215 in full.

Matthew Halper and Jeselie Halper filed for Chapter 11 bankruptcy
protection (Bankr. S.D. Fla. Case No. 15-18297).  The Debtors are
represented by Chad T. Van Horn, Esq., at Van Horn Law Group, P.A.


MILLAR WESTERN: Moody's Cuts Corporate Family Rating to Caa1
------------------------------------------------------------
Moody's Investors Service downgraded Millar Western Forest Products
Ltd's (Millar Western) corporate family rating (CFR) to Caa1 from
B3, probability of default rating (PDR) to Caa1-PD from B3-PD, and
senior unsecured notes to Caa2 from Caa1. The speculative grade
liquidity rating was raised to SGL-3 from SGL-4 and the rating
outlook remains negative.

"Millar Western's ratings downgrade reflects our view that the
company's capital structure is untenable, with leverage above 10x,
coverage below 1x, and little opportunity to improve those metrics
before the revolver matures in 2018," said Ed Sustar, Moody's
Senior Vice President.

Downgrades:

   Issuer: Millar Western Forest Products Ltd.

   -- Probability of Default Rating, Downgraded to Caa1-PD from
      B3-PD

   -- Corporate Family Rating, Downgraded to Caa1 from B3

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to Caa2
      (LGD4) from Caa1 (LGD4)

Ratings Raised:

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

Outlook Actions:

   Issuer: Millar Western Forest Products Ltd.

   -- Outlook, remains Negative

RATINGS RATIONALE

Millar Western's Caa1 CFR primarily reflects Moody's expected high
leverage of over 10x and weak interest coverage of less than 1x as
earnings grow slightly over the next 12 to 18 months. Absent
significant EBITDA expansion or debt reduction, which Moody's does
not expect, Millar Western's capital structure is untenable,
increasing the likelihood of a default via a distress exchange or
creditor protection filing. The rating also considers the company's
small revenue base and lack of operating diversity with just one
pulp mill and two sawmills (all located in Alberta) and the
significant exposure to the volatile and fragmented lumber and
market pulp industry.

The company has adequate liquidity (SGL-3) over the 12 months to
June 2017, with C$9 million of cash (as of June 2016) and full
availability on a C$50 million revolving credit facility (matures
July 2018) to fund our expectation of about C$5 million of cash
consumption and about C$6 million of debt maturities over the next
12 months. In addition, we anticipate that the company will use its
cash and draw a portion of its revolving credit facility to fund
the majority of the company's log harvesting and hauling which
occur in the winter months (typically building up a log inventory
valued at about $30 million in the first quarter of the year). The
company is expected to remain in compliance with its financial
covenants (current ratio above 1.5x) over the next 12 months.

The negative rating outlook reflects the challenges in both the
pulp and lumber industry which will limit the company's ability to
de-lever and successfully refinance its debt (revolver due in July
2018 and Notes due in Apri 29l21) , and the potential of a
negotiated debt restructuring in advance of these dates, which
would be a default.

The ratings could be downgraded if it becomes more likely that
Millar Western will not be able to refinance its debt prior to
maturity (revolver matures July 2018 and bonds mature April 2021),
expectations of sustained cash consumption or a substantive
worsening of business conditions.

A rating upgrade would require the maintenance of adequate
liquidity, positive free cash flow generation, and a sustained
recovery in pulp or lumber markets that improve the company's
profitability such that Millar Western is able to maintain adjusted
debt/EBITDA below 6x (24x LTM June 2016).

The principal methodology used in these ratings was Global Paper
and Forest Products Industry published in October 2013.

Millar Western is a privately-held producer of lumber and pulp,
headquartered in Edmonton, Alberta, Canada.



NADLER & DARWISH: Unsecureds To Be Paid 10% Under Ch. 11 Plan
-------------------------------------------------------------
Nadler & Darwish LLC filed with the U.S. Bankruptcy Court for the
District of Massachusetts a disclosure statement referring to the
Debtor's plan of reorganization.

Class Three, which consists of all unsecured claims against the
Debtor, is impaired under the Plan.  The general unsecured claims
are in the approximate sum of $215,000.  The Debtor will pay the
total of $21,500 to the class.  Three claimants will get four
annual installments of $5,375 with an initial distribution of
$5,375 on the Effective Date following confirmation of the Plan, to
be distributed pro rata among the unsecured claims in Class Three
and thereafter, on the anniversary of the Effective Date of
confirmation for an additional three installments.  The Debtor
estimates that these payments will result in a dividend of
approximately 10%.

On confirmation, all property of Debtor, tangible and intangible,
including, without limitation, licenses, furniture, fixtures and
equipment, will revert, free and clear of all claims and interests
except as provided herein, to the Debtor.  The Debtor will pay the
claims from its operations post-confirmation.  The Debtor estimates
that on the Effective Date the funds to be distributed are
approximate $25,000 to satisfy the first payment due to the Class
One and Class Two creditors, the initial distribution to the Town
of Randolph and the initial dividend distribution payment to the
general unsecured claimants, sums due, if any to the U.S. Trustee
and payment of the administrative claims of counsel to the Debtor.
The Debtor expects to have sufficient cash on hand to make the
payments required on the Effective Date through the contribution of
new value by the equity interest holders as well as rental revenue
from the tenants who will occupy the Debtors premises.  

All quarterly disbursement fees accrued prior to confirmation will
be paid in full, on or before the date of confirmation of the
Debtor's plan, by the Debtor or any successor to the Debtor. All
Quarterly Fees which accrue post-confirmation will be paid in full
on a timely basis by the Debtor or any successor to the Debtor
prior to the Debtor's case being closed, converted or dismissed.

The Plan provides for the Debtor to retain its building located at
967-975 North Main Street, Randolph, Massachusetts, while
restructuring its obligations to its creditors.  

The Disclosure Statement is available at:

            http://bankrupt.com/misc/mab16-12820-61.pdf

The Plan was filed by the Debtor's counsel:

      Nina M. Parker, Esq.
      Parker & Associates
      10 Converse Place
      Winchester, Massachusetts 01890
      Tel: (781) 729-0005
      E-mail: nparker@ninaparker.com

                   About Nadler and Darwish

Nadler and Darwish, LLC,  has maintained its  business operating as
a building owner and property manager as well as other enterprises.


The Debtor filed a Chapter 11 bankruptcy petition (Bankr. D.Ma.
Case No. 16-58964) on July 24, 2016.  The Hon. Melvin Hoffman
presides over the case.  Parker & Associates represents the Debtor
as counsel.

In its petition, the Debtor estimated $1 million to $10
million
in both assets and liabilities.  The petition was signed by Erna
Jean-Louis, manager.


NAKED BRAND: Issues $112,000 Convertible Note to CEO
----------------------------------------------------
Naked Brand Group Inc. entered into a subscription agreement with
Carole Hochman, the Company's chief executive officer and
chairwoman of the board of directors, pursuant to which Hochman as
Investor purchased and the Company issued a convertible promissory
note in the initial principal amount of $112,000.  The Note was
issued and sold for cash at a purchase price equal to 100% of its
principal amount in reliance on the exemption from registration
provided by Section 4(a)(2) of the Securities Act of 1933, as
amended, and/or Rule 506 of Regulation D promulgated thereunder.
The Company may, from time to time, sell additional Notes in the
same series.

The Note will bear interest at a rate of 9% per annum payable upon
the earliest to occur of (i) the liquidation and dissolution of the
Company pursuant to a plan of complete liquidation or (ii) Dec. 31,
2017, unless earlier converted, redeemed or repurchased. The Note
constitutes a general unsubordinated obligation of the Company and
is guaranteed by the Company.

In the event the Company consummates an equity financing resulting
in gross proceeds to the Company of at least $1,000,000, excluding
the proceeds to the Company from the purchase of the Note, the
entire unpaid principal amount of the Note and all accrued unpaid
interest thereon will automatically convert, at the initial closing
of such financing, into equity securities issued at the price per
security issued in such Qualified Financing and on the same terms
and conditions that apply to the Qualified Financing Securities.
In the event the Company consummates an equity financing that is
not a Qualified Financing, then the holder of the Note may, in its
sole discretion, convert the Outstanding Balance at the initial
closing of such Subsequent Financing into the equity securities
issued at the Conversion Price and on the same terms and conditions
that apply to the securities issued in such Subsequent Financing.

In the event of a "Sale Transaction", the Outstanding Balance will
automatically convert, with no further action by the holder of the
Note, into shares of the Company's common stock at a conversion
price that is equal to the enterprise value of the Company, as
established by the consideration payable in the Sale Transaction,
so as to permit the holder to receive the cash, securities or other
property to which the holder would be entitled in the Sale
Transaction on account of the holder's ownership of the shares of
common stock.

The Note is subject to customary events of default, upon the
occurrence of which all payments on the Note may become immediately
due.

As a condition to the issuance of any shares of common stock other
securities of the Company upon conversion of the Note, the holder
must become a party to such other agreements and instruments, as
reasonably requested by the Company.

                      About Naked Brand

Naked Brand Group Inc. designs, manufactures, and sells men's
innerwear and lounge apparel products in the United States and
Canada.  It offers various innerwear products, including trunks,
briefs, boxer briefs, undershirts, T-shirts, and lounge pants
under the Naked brand, as well as under the NKD sub-brand for men.
The company sells its products to consumers and retailers through
wholesale relationships and direct-to-consumer channel, which
consists of an online e-commerce store, thenakedshop.com.  Naked
Brand Group Inc. is based in New York, New York.

Naked Brand reported a net loss of US$19.06 million on US$1.38
million of net sales for the year ended Jan. 31, 2016, compared to
a net loss of US$21.07 million on US$557,000 of net sales for the
year ended Jan. 31, 2015.

As of July 31, 2016, Naked Brand had US$2.99 million in total
assets, US$1.44 million in total liabilities and US$1.55 million in
total stockholders' equity.

BDO USA, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Jan. 31, 2016, noting that the Company incurred a net loss of
$19,063,399 for the year ended Jan. 31, 2016 and the Company
expects to incur further losses in the development of its business.
This condition raises substantial doubt about the Company's
ability to continue as a going concern.


NETSMART INC: Moody's B3 CFR Unaffected by Loan Increase
--------------------------------------------------------
Moody's Investors Service said Netsmart, Inc.'s B3 Corporate Family
Rating, B2 senior secured first lien ratings, Caa2 senior secured
second lien rating and the stable outlook are unaffected by the
proposed $40 million first lien term loan increase (pro forma about
$434 million) to acquire HealthMEDX.


NISKA GAS: S&P Assigns 'BB-' CCR, Outlook Stable
------------------------------------------------
S&P Global Ratings said it assigned its 'BB-' long-term corporate
credit rating to Niska Gas Storage Partners L.P.  The outlook is
stable.  At the same time, S&P Global Ratings raised its
issue-level rating on the senior unsecured debt of subsidiaries
Niska Gas Storage Ltd. and Niska Gas Storage Canada Finance Corp.
to 'B+' from 'CCC+'.  The '5' recovery rating on the debt, which is
unchanged, reflects S&P's expectation of modest recovery (10%-30%;
in the upper half of the range) in a default scenario.

S&P Global Ratings also raised its corporate credit rating on Niska
Gas Storage Partners LLC to 'BB-' from 'B-', then withdrew the
rating, because the company was replaced with the L.P. with this
transaction.

"The rating action reflects the completion of Niska's acquisition
by Brookfield Infrastructure Fund II L.P," said S&P Global Ratings
credit analyst Gerry Hannochko. Niska is now a private subsidiary
of the fund (BIF).  As part of the acquisition, BIF acquired about
62% of Niska's senior notes and had extended a US$50 million credit
facility to the company, of which approximately US$48 million has
been drawn. BIF has exchanged both of these for deeply subordinated
promissory notes.  S&P treats these notes as equity, because they
mature beyond existing senior notes, they are not transferrable
without equity control, and S&P believes that Brookfield will not
exercise any creditor rights to the detriment of the existing
senior noteholders.  This has improved the company's leverage,
which S&P expects to fall to less than 4.5x by year-end.

S&P assesses Niska's business risk profile as weak given its
exposure to the volatility inherent in natural gas market
fundamentals, dependence on seasonal natural gas spreads for
profitability, and exposure to contract renewal risk.  The
company's year-end 2016 (March 31) results were weak.  These
highlighted declining profitability due to low seasonal storage
spreads, and dependence on weather for optimization revenue. Prices
of natural gas and seasonal storage spreads have stabilized
somewhat, supporting profitability over the next few quarters.

S&P assess the financial risk profile assessment on Niska as
aggressive because reduced debt and improved seasonal spreads have
materially improved forecast financial metrics.  As part of the
refinancing of the company's debt, Niska plans to issue a US$150
million term loan.  S&P forecasts fiscal 2017 adjusted-funds from
operations (AFFO)-to-debt of 16.6% and debt-to-EBITDA of 4.3x.

The stable outlook reflects S&P Global Ratings expectation that
debt-to-EBITDA will remain about 4.5x over our 12-18 month outlook
horizon, with improved year-over-year EBITDA contribution through a
high proportion of fixed long- and short-term gas storage
contracts.

S&P believes an upgrade during its 12-18 month outlook horizon
would require debt-to-EBITDA declining and staying below 3.75x,
which could be due to significant improvements in optimization
storage contract margins, or further deleveraging.

S&P could lower the ratings if debt-to-EBITDA worsens to more than
4.75x.  This could occur if natural gas storage spreads contract in
the future, leading to lower EBITDA contribution.


NOTIS GLOBAL: Signs $3.3MM Note Purchase Deal with Magic Farms
--------------------------------------------------------------
Notis Global, Inc. filed with the Securities and Exchange
Commission an amended Current Report on Form 8-K/A solely to
describe a letter agreement dated Sept. 30, 2016, among the
Company, the Subsidiaries and Magic Farms, LLC (the "Investor")
entered into in connection with a Securities Purchase Agreement.

On Sept. 30, 2016, the Company entered into a securities purchase
agreement with Magic Farms, LLC pursuant to which two wholly-owned
subsidiaries of the Company, EWSD I, LLC and Pueblo Agriculture
Supply and Equipment, LLC agreed to jointly sell, and the Investor
agreed to purchase, an aggregate of up to $3,349,599 in
subscription amount of convertible secured promissory notes (plus
the Magic Farms Subscription Amount of $1,431,401, which was
tendered with the first tranche of the Securities Purchase
Agreement) in seven tranches.

The Investor's commitment to purchase the New Notes may, at the
option of the Investor be reduced by up to $700,000 for monies
raised by the Company or the Subsidiaries.  The Magic Farms Note
Subscription Amount refers to $1,431,401 of 10% convertible notes
of the Company previously issued to Redwood Management, LLC
pursuant to that certain Securities Purchase Agreement among
Redwood, the Company and the Subsidiaries, dated on or about June
30, 2016.  The debentures issued pursuant to the July SPA were
subsequently assigned to the Investor and were tendered for
cancellation to the Company for the Magic Farms Subscription Amount
portion of the New Notes.

The New Notes accrue interest at a rate of 5% per annum and are
issued at a 40% discount to purchase price.  Therefore, if each of
the seven tranches described below are fully funded, the Company
would receive cash in the aggregate of $1,983,599 in exchange for
the issuance of New Notes with a face value of $3,349,599 in
principal to be repaid to the Investor.  The first New Note issued
in the first tranche under the Securities Purchase Agreement was
for an original purchase price of $1,881,401 (representing the
Magic Farms Note Subscription Amount of $1,431,401 plus $450,000
funded purchase price) and an original principal amount of
$2,633,961.  The New Notes may be prepaid inclusive of interest of
the greater of one year or the current amount of time that the New
Note has been outstanding.

The funding of New Notes under the Securities Purchase Agreement
are as follows:

     The first tranche of up to $539,306 (of which $450,000 has
been funded and $89,306 remains outstanding) plus the Magic Farms
Note Subscription Amount,

     the second tranche of up to $100,000 (of which $35,000 has
been funded and $65,000 remains outstanding) being closed upon on
or about Oct. 1, 2016,

     the third tranche of up to $208,424 being closed upon on or
about Oct. 17, 2016,

     the fourth tranche of up to $100,000 being closed upon on or
about Nov. 1, 2016,

     the fifth tranche of up to $188,818 being closed upon on or
about Nov. 15, 2016,

     the sixth tranche of up to $182,051 being closed upon on or
about Dec. 15, 2016, and

     the seventh tranche of up to $665,000, the closing of which is
contingent upon, among other things, the purchase of a parcel of
land located at 212 39th Ln, Pueblo CO 81006 referred to as "Farm
#2", upon terms and conditions that are satisfactory to the
Investor and the assignment of a 20% ownership interest in that
certain 320-acres of agricultural land in Pueblo, Colorado and Farm
#2 to the Investor.

Upon retirement of the New Notes, the Company or its Subsidiaries
or affiliates as applicable, shall assign 20% of their respective
ownership interest in the Farm and Farm #2 to the Investor.

The Company and Ned Siegel, Jeffrey Goh, and Clinton Pyatt, each an
executive officer of the Company or member of the Company's Board
shall enter into management contracts with the Company upon terms
and subject to conditions that are reasonably acceptable to the
Investor.

Furthermore, the Company shall pay to the Investor as partial
repayment of the New Notes or other indebtedness at the end of each
calendar month:

  (a) Out of the first $1,000,000 in the aggregate of combined
      revenues received from all sources, including, without
      limitation, any revenue from any legal settlement, judgment,
      or other legal proceeding, received of the Company and all
      of its Subsidiaries net of any payments to an 'outside
      farmer', 80% of the Combined Revenues, except to the extent
      the Combined Revenues are from a Legal Matter, in which
      event, the percentage shall be 50%.

  (b) Out of the second $1,000,000 in the aggregate of Combined
      Revenues, 70% of the Combined Net Revenues, except to the
      extent the Combined Revenues are from a Legal Matter, in
      which event, the percentage will be 50%.

  (c) Out of any Combined Revenues in excess of $2,000,000, 60% of

      the Combined Net Revenues, except to the extent the Combined

      Revenues are from a Legal Matter, in which event, the
      percentage shall be 50%.

  (d) Upon full satisfaction of the New Notes, 60% of the Combined

      Net Revenues will be used to redeem any outstanding
      indebtedness owed to the Investor.

  (e) The foregoing amounts may, at the Investor's option, be
      reduced to allow EWSD to meet its overhead not to exceed
      $120,000 per month plus a maximum of $100,000 per month to
      the Company beginning Jan. 15, 2017.

  (f) The Company will be permitted to enter into one or more
      agreements with third parties to allocate to such third
      parties up to no more than 20% of the Combined Net Revenues.
      Any such agreements shall reduce the percentage of the
      Combined Net Revenues to be paid by the Companies to the
      Investor.

The Company agreed to use commercially reasonable efforts to amend
the Subordination Agreement to reflect the issuance of New Notes to
the Investor within 14 days of the date of the Securities Purchase
Agreement.  Redwood and the Investor are affiliates of one
another.

In connection with the negotiation of the Securities Purchase
Agreement, the Company, the Subsidiaries, and the Investor also
entered into a Letter Agreement dated Sept. 30, 2016, pursuant to
which the Company and the Subsidiaries agreed to comply with
various schedules relating to the expenses, projections, targets,
and accounts payable of the Company and the Subsidiaries.
Specifically, the schedules to the Letter Agreement set forth (1)
sources and uses of funds for the fourth quarter of 2016, (2)
monthly revenue targets through September 2017, (3) estimated legal
and public company expenses through the fourth quarter of 2016, and
(4) monthly operating expense for the Company, and for the
Subsidiaries through the fourth quarter of 2016. The failure of the
Company or the Subsidiaries to comply with or meet the
specifications set forth in the schedules shall constitute an Event
of Default as such term is described in the New Notes.

The Company and the Subsidiaries also entered into an Exchange
Agreement with Redwood, pursuant to which Redwood agreed to
exchange each of the Company's outstanding debentures issued in
favor of Redwood (in the principal outstanding balance amount of
approximately $5,882,242 (plus accrued interest) for certain 10%
Convertible Debentures issued by the Subsidiaries, due June 30,
2017, on substantially the same terms as the Redwood Debentures.
  
The Company and the Subsidiaries also entered into a Security
Agreement, securing a lien for the Investor on the Farm (subject to
the rights of the primary lien holder in the Farm pursuant to the
Subordination Agreement) and securing a lien for the Investor on
Subsidiaries' other assets on a primary basis.  Pursuant to the
Security Agreement, the Company agreed to, within 14 calendar days,
negotiate and enter into an amendment to the Subordination
Agreement to reflect the rights of the Investor set forth in the
Security Agreement.  The Company also intends to negotiate related
waivers with its other creditors.

In the instance of an Event of Default, as such term is defined in
the New Note, the Investor has the right to convert all or any
portion of principal and/or interest of the New Notes into shares
of Common Stock of the Company in accordance with the terms of the
form of 10% Convertible Debenture dated as of June 30, 2016 issued
under the July SPA.

The Investor will have a right of first refusal to participate in
future equity financings of the Company on the same terms as any
new investors for a period of twelve months from the closing of the
last Convertible Debenture.

      Grant of Second Deed of Trust and Assignment of Rents

On Sept. 30, 2016, EWSD I, LLC, a wholly-owned subsidiary of Notis
Global, Inc., granted a junior lender a Second Deed of Trust,
Security Agreement and Financing Statement and an Assignment of
Rents and Leases.  The Second Trust Deed and the Assignment of
Rents encumber certain real property comprised of 320-acres of
agricultural land in Pueblo, Colorado owned by EWSD I, and the
rents payable by tenants under any current and future leases of and
from the Farm.  The Second Trust Deed and the Assignment of Rents
secure the payment of all obligations of EWSD I pursuant to any
debentures issued to the Junior Lender in accordance with the
Securities Purchase Agreement dated June 30, 2016, by and among
EWSD I, Junior Lender, and Company.

The security granted to the Junior Lender pursuant to the Second
Trust Deed and the Assignment of Rents is subordinate to the rights
of Southwest Farms, Inc. as set forth in the Deed of Trust,
Security Agreement and Financing Statement dated as of Aug. 7,
2015, granted by EWSD I in favor of Senior Lender and the
Assignment of Rents and Leases by and between EWSD I and Senior
Lender dated as of Aug. 7, 2015.  Such subordination is documented
in a Subordination Agreement dated as of Aug. 23, 2016, by and
among Senior Lender, Junior Lender, Company, EWSD I, and Pueblo
Agriculture Supply and Equipment, LLC, another wholly-owned
subsidiary of the Company, as amended by a First Amendment to
Subordination Agreement dated as of Sept. 19, 2016, pursuant to
which Senior Lender consented to the Second Trust Deed and the
Assignment of Rents.  The Subordination Agreement also provides
that the Junior Lender may not increase the principal amount of
indebtedness pursuant to the June Securities Purchase Agreement
beyond $1,500,000.

                      About Notis Global

Headquartered in Los Angeles, Notis Global, Inc. provides
specialized services to the hemp and marijuana industry.

The Company enters into joint ventures and operating and management
agreements with its partners and conducts consulting services for
its clients.  The Company also acts as a distributor of hemp
products processed by our contract partners.  Furthermore, the
Company owns and manages real estate used by its contract partners
for cultivation centers and dispensaries.

As of June 30, 2016, Notis Global had $7.14 million in total
assets, $24.54 million in total liabilities and a total
stockholders' deficit of $17.39 million.

Notis Global reported a net loss of $50.44 million in 2015
following a net loss of $16.54 million in 2014.

Marcum LLP, in Los Angeles, CA, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has a significant
working capital deficit and an accumulated deficit as of Dec. 31,
2015, and has incurred a significant net loss and negative cash
flows from operations for the years ended Dec. 31, 2015, and 2014.
The foregoing matters raise substantial doubt about the Company's
ability to continue as a going concern.


OMEROS CORP: Inks $125 Million Loan Agreement with CRG Servicing
----------------------------------------------------------------
Omeros Corporation, on Oct. 26, 2016, entered into a term loan
agreement with CRG Servicing LLC, as administrative agent and
collateral agent, certain lenders and nura, inc. as subsidiary
guarantor.

Pursuant to the Loan Agreement, Omeros may initially borrow $80
million from the Lenders subject to certain conditions, which
borrowing must occur within 10 days of the effective date of the
Loan Agreement.  Omeros may borrow up to an additional $45 million
in two tranches of $25 million and $20 million, respectively,
contingent upon achievement of certain conditions including either
satisfying (a) minimum net revenue amounts from Omeros’
ophthalmology product OMIDRIA (phenylephrine and ketorolac
injection) 1% / 0.3% or (b) minimum average market capitalization
on or before June 30, 2017, and Dec. 31, 2017, respectively.

Omeros intends to use $75.7 million of the initial loan proceeds to
repay all of the amounts owed by Omeros under its existing Loan and
Security Agreement with Oxford Finance LLC and East West Bank dated
Dec. 30, 2015, as amended.  Upon the repayment of all amounts owed
by Omeros under the Prior Agreement, including a prepayment fee and
a final payment fee, all commitments under the Prior Agreement will
be terminated and all security interests granted by Omeros to the
lenders under the Prior Agreement will be released.  Omeros intends
to use the remainder of the initial loan proceeds (after deducting
loan origination costs) of approximately $3 million, plus any
additional amounts that may be borrowed in the future, for general
corporate purposes and working capital.

The Loan Agreement has a six-year term with four years (through
Dec. 31, 2020) of interest-only payments after which quarterly
principal and interest payments will be due through the Sept. 30,
2022 maturity date.  Interest on the amounts borrowed under the
Loan Agreement accrues at an annual fixed rate of 12.25%, 4.0% of
which (i.e., a resultant 8.25% rate) may be deferred during the
interest-only period by adding such amount to the aggregate
principal loan amount.  If an OMIDRIA revenue milestone is
satisfied during the 12 month period ending on Dec. 31, 2019, the
interest rate may be reduced to 11.50%, 3.5% of which may be paid
in the form of PIK Loans.  In addition, if the OMIDRIA revenue
milestone is satisfied during such period or a market
capitalization milestone is achieved during the fourth quarter of
2020, the loan would convert to interest-only until the Sept. 30,
2022 maturity, at which time all unpaid principal and accrued
unpaid interest is due and payable. On each borrowing date, Omeros
is required to pay CRG a financing fee based on the loan drawn on
that date, excluding PIK Loans.  Omeros is also required to pay the
Lenders a final payment fee upon repayment of the Loans in full.

Omeros may prepay all or a portion of the outstanding principal and
accrued unpaid interest under the Loan Agreement at any time upon
prior notice to the Lenders subject to a prepayment fee during the
first three years of the term and no prepayment fee thereafter.  In
certain circumstances, including a change of control and certain
asset sales or licensing transactions, Omeros is required to prepay
all or a portion of the loan, including the applicable prepayment
premium of on the amount of the outstanding principal to be
prepaid.

As security for its obligations under the Loan Agreement, on the
funding date of the initial borrowing, Omeros will enter into a
security agreement with nura and CRG whereby Omeros will grant to
CRG, as collateral agent for the Lenders, a lien on substantially
all of its assets including intellectual property.  The Loan
Agreement requires Omeros to maintain cash and cash equivalents of
$5.0 million and, each year through the end of 2021, to meet either
(a) a minimum total annual revenue threshold or (b) a market
capitalization threshold for the quarter ended December 31. In the
event that Omeros does not meet either the minimum total annual
revenue threshold or market capitalization for a particular year,
then the company can satisfy the requirement for that year by
paying an amount equal to the shortfall.  The Loan Agreement also
contains customary affirmative and negative covenants for a credit
facility of this size and type, including covenants that limit or
restrict Omeros’ ability to, among other things, incur
indebtedness, grant liens, merge or consolidate, dispose of assets,
make investments, make acquisitions, enter into transactions with
affiliates, pay dividends or make distributions, license
intellectual property rights on an exclusive basis or repurchase
stock, in each case subject to customary exceptions.

The Loan Agreement includes customary events of default that
include, among other things, non-payment, inaccuracy of
representations and warranties, covenant breaches, a material
adverse change (as defined in the Loan Agreement), cross default to
material indebtedness or material agreements, bankruptcy and
insolvency, material judgments and a change of control.  The
occurrence and continuance of an event of default could result in
the acceleration of the obligations under the Loan Agreement. Under
certain circumstances, a default interest rate of an additional
4.00% per annum will apply on all outstanding obligations during
the existence of an event of default under the Loan Agreement.

A full-text copy of the Loan Agreement is available for free at:

                     https://is.gd/uzxPT0

                       About Omeros Corp

Omeros Corporation is a biopharmaceutical company committed to
discovering, developing and commercializing both small-molecule and
protein therapeutics for large-market as well as orphan indications
targeting inflammation, coagulopathies and disorders of the central
nervous system.

Omeros reported a net loss of $75.09 million in 2015, a net loss of
$73.67 million in 2014 and a net loss of $39.79 million in 2013.

As of June 30, 2016, Omeros Corp had $46.10 million in total
assets, $95.10 million in total liabilities and a shareholders'
deficit of $48.99 million.

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


OPEXA THERAPEUTICS: Unveils Tcelna Phase 2b Clinical Trial
----------------------------------------------------------
Opexa Therapeutics said the Phase 2b Abili-T clinical trial
designed to evaluate the efficacy and safety of Tcelna
(imilecleucel-T) in patients with secondary progressive multiple
sclerosis (SPMS) did not meet its primary endpoint of reduction in
brain volume change (atrophy), nor did it meet the secondary
endpoint of reduction of the rate of sustained disease progression.
Tcelna did show a favorable safety and tolerability profile.

"We are disappointed that Tcelna did not meet the predefined
endpoints in the Abili-T trial," said Neil K. Warma, president and
chief executive officer of Opexa.  "We will evaluate the full data
set over the coming weeks and review cash preservation options
while we consider the best path forward for the company."

Abili-T is a 183-patient, randomized, double-blind,
placebo-controlled Phase 2b study (ClinicalTrials.gov Identifier:
NCT01684761) that was conducted at 35 clinical trial sites in the
U.S. and Canada.  Patients in the Tcelna arm of the study received
two annual courses of Tcelna treatment consisting of five
subcutaneous injections per year.

"We would like to express our sincere thanks to the patients in the
Abili-T trial, as well as to the principal investigators and study
coordinators, for their contributions to the study," said Mr.
Warma.

                         About Opexa

Opexa Therapeutics, Inc. is a biopharmaceutical company developing
a personalized immunotherapy with the potential to treat major
illnesses, including multiple sclerosis (MS) as well as other
autoimmune diseases such as neuromyelitis optica (NMO).  These
therapies are based on its proprietary T-cell technology.  The
Company's mission is to lead the field of Precision Immunotherapy
by aligning the interests of patients, employees and shareholders.

Opexa reported a net loss of $12.02 million in 2015 following a net
loss of $15.05 million in 2014.  As of June 30, 2016, Opexa had
$9.43 million in total assets, $3.52 million in total liabilities
and $5.91 million in total stockholders' equity.

In its financial report filed with the Securities and Exchange
Commission for the Quarterly Period Ended June 30, 2016, the
Company said that as of June 30, 2016, it had cash and cash
equivalents of $7.8 million.  While the Company recognizes revenue
related to the $5 million and $3 million payments from Merck
received in February 2013 and March 2015 in connection with the
Option and License Agreement and the Amendment over the exclusive
option period based on the expected completion term of the
Company's ongoing Phase IIb clinical trial -- Abili-T -- of
Tcelna(R) in patients with Secondary Progressive MS, the Company
does not currently generate any commercial revenues resulting in
cash receipts, nor does it expect to generate revenues during the
remainder of 2016 resulting in cash receipts.  The Company's burn
rate during the six months ended June 30, 2016 was approximately
$763,000 per month, thereby creating substantial doubt about the
Company's ability to continue as a going concern.  The Company
warned that costs associated with completing the ongoing Abili-T
trial may result in an increase in the monthly operating cash burn
during the remainder of 2016.


OPIANT PHARMACEUTICALS: MaloneBailey LLP Raises Going Concern Doubt
-------------------------------------------------------------------
Opiant Pharmaceuticals, Inc., filed its annual report on Form 10-K,
disclosing a net loss of $7.81 million on $9.90 million of revenues
for the fiscal year ended July 31, 2016, compared with a net loss
of $7.04 million on $1.55 million of revenues for the year ended
June 30, 2015.

MaloneBailey, LLP, states that the Company has suffered losses from
operations and has a working capital deficit, which raises
substantial doubt about its ability to continue as a going concern.


The Company's balance sheet at July 31, 2016, showed $1.88 million
in total assets, $6.59 million in total liabilities, and
stockholders' deficit of $4.70 million.

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

                       https://is.gd/21HoSg

Opiant Pharmaceuticals, Inc., formerly Lightlake Therapeutics,
Inc., is a specialty pharmaceutical company.  The Company is
engaged in developing opioid antagonist treatments for substance
use, addictive and eating disorders.  The Company focuses on
developing a treatment for reverse opioid overdoses, a treatment
for overweight and obese patients with binge eating disorder, and a
treatment for cocaine use disorder (CocUD).  The Company is
developing a treatment for reversing opioid overdoses in
collaboration with the National Institute on Drug Abuse (NIDA),
part of the National Institutes of Health (NIH), Inc., filed its
annual report on Form 10-K, disclosing a net loss of $7.81 million
on $9.90 million of revenues for the fiscal year ended July 31,
2016, compared with a net loss of $7.04 million on $1.55 million of
revenues for the year ended June 30, 2015.




OUTSIDE PLANT: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Outside Plant Damage Recovery, LLC
           dba OPDR
           dba PRMG
           dba Paragon Risk Management Group
        9984 W Jewell Avenue, Unit B
        Lakewood, CO 80232-6486

Case No.: 16-20629

Chapter 11 Petition Date: October 28, 2016

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Thomas B. McNamara

Debtor's Counsel: Roger K. Adams, Esq.
                  4200 E. 8th Ave., Ste. 101
                  Denver, CO 80220
                  Tel: 720-233-7900
                  Fax: 303-586-6224
                  Email: RogerKAdams@RKA-Law.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joseph Fanciulli, owner.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/cob16-20629.pdf


OWENS-ILLINOIS INC: S&P Rates Proposed EUR600MM Notes 'BB'
----------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '3'
recovery rating to OI European Group B.V.'s proposed EUR600 million
senior unsecured notes due 2024.  The '3' recovery rating indicates
S&P's expectation for meaningful (50%-70%; upper half of the range)
recovery for lenders in the event of a payment default. OI European
Group B.V. is a subsidiary of Owens-Illinois Inc. (OI).

S&P notes that its recovery analysis on Owens-Illinois suggests
that the lenders of this debt may possibly receive full recovery of
their principal in a simulated default scenario.  However, S&P has
capped its recovery rating on this debt at '3' because S&P caps its
unsecured recovery ratings on debt issued by companies that S&P
rates in the 'BB' category at '3' to reflect the heightened risk
that such companies may change their capital structure in ways that
could impair unsecured lenders' recovery prospects.

The company intends to use the net proceeds from this offering,
along with other available funds, to repay its term loan B due
2022, pay related fees and expenses associated with the note
offering, and for general corporate purposes.

With revenue of about $6.7 billion for the trailing 12 months ended
Sept. 30, 2016, Owens-Illinois is a global manufacturer and
supplier of glass containers for a variety of items, including
alcoholic beverages, soft drinks, teas, juices, and
pharmaceuticals.  Owens-Illinois maintains leading market shares in
each of its four regions (North America, Europe, Latin America, and
Asia-Pacific).

S&P bases its 'BB' corporate credit rating on Owens-Illinois on
S&P's satisfactory assessment of the company's business risk
profile and S&P's aggressive assessment of its financial risk
profile.

RECOVERY ANALYSIS

Key analytical factors

   -- S&P's recovery analysis assumes a payment default in 2020
      and a gross enterprise value (EV) of $4.8 billion, based on
      an assumed EBITDA of $800 million and a 6x multiple.  The 6x

      multiple is consistent with S&P's assumptions for other
      packaging firms with similar business positions, while the
      EBITDA assumption approximates the level of the company's
      fixed charges.  S&P assumes that roughly 75% of the value
      relates to the company's non-U.S. operations.  A payment
      default would require a large and unexpected decline in
      profitability and cash flow, likely caused by a sharp
      decline in the demand for glass containers, increased cost
      pressures, client attrition, and a shift by the company's
      customers to substitute glass packaging with other
      materials.

   -- The U.S. borrowings under Owens-Brockway's credit facility
      benefit from a lien on most of OI's domestic assets
      (excluding mortgages on real estate and 35% of the equity in

      its foreign subsidiaries).  Direct borrowings by foreign
      subsidiaries (under the $600 million multicurrency revolver
      and the EUR279 million euro term loan A) have additional
      guarantees and collateral.  S&P assumes the revolving credit

      facilities (a $300 million tranche and a $600 million
      multicurrency facility) are 85% drawn at default, with half
      of the multicurrency facility borrowed abroad.  A collection

      allocation mechanism would equalize recovery rates for all
      bank tranches, despite the better guarantor and collateral
      terms for the non-U.S. borrowings.  The senior notes issued
      by OI European Group B.V. have a structurally senior claim
      to the non-U.S. EV (relative to U.S. debt), although this
      claim is unsecured and effectively junior to the foreign
      secured borrowings'.  While S&P's analysis suggests the
      possibility of full recovery on this debt, it has capped its

      recovery rating on the debt at '3'.  S&P caps its unsecured
      recovery ratings on debt issued by companies that S&P rates
      in the 'BB' category at '3' to reflect the heightened risk
      that such companies may change their capital structure in
      ways that could impair unsecured recovery prospects.

   -- The senior notes issued by Owens-Brockway Glass Container
      Inc. have unsecured guarantees by Owens Illinois Inc. and
      its domestic subsidiaries, while the senior unsecured
      debentures issued by Owens-Illinois Inc. do not have
      subsidiary guarantees and are considered structurally
      subordinated with regard to most other claims.

   -- S&P's analysis suggests that the collateral for the credit
      facility will cover roughly 90% of the secured facility.  
      The unpledged value relating to the 35% of the foreign
      equity that is not collateral would be sufficient to provide

      14% coverage of the unsecured claims, including the notes
      and the deficiency claim on the secured loan.  The secured
      lenders' share of the unpledged value (from the deficiency
      claim) would marginally increase the secured lenders'
      recovery.  While the senior unsecured notes would receive a
      modest estimated recovery (10%-30%; lower half of the
      range), the senior unsecured debentures that lack guarantees

      are expected to realize a negligible (0%-10%) recovery in a
      default.

Simulated default and valuation assumptions

   -- Simulated year of default: 2020
   -- EBITDA at emergence: $800 million
   -- EBITDA multiple: 6x

Simplified waterfall

   -- Net enterprise value (after 7% admin. costs): $4.464 billion
   -- Valuation split (obligors/nonobligors): 25%/75%
   -- Net EV of foreign operations: $3.348 billion
   -- Adjustment to foreign EV (accounts receivable securitization

      and post-retirement liabilities): $271 million
   -- Estimated secured bank borrowings by European entities*:
      $576 millionOwens Illinois Europe BV unsecured notes:
      $1.612 billion
      -- Recovery expectations European unsecured debt: Capped at
         50%-70% (upper half of the range)
   -- Net foreign equity value available to U.S.
      creditors/collateral: $889 million/$578 million
   -- Net U.S. EV: $1.116 billion
   -- Domestic priority claims (capital leases): $62 million
   -- Collateral from U.S. operations: $1.054 billion
   -- Collateral value from foreign equity pledge (65% foreign
      equity): $578 million
   -- Collateral from foreign credit facility borrowings:
      $576 million
   -- Total estimated credit facility collateral: $2.208 billion
   -- Total secured credit facility debt**: $2.462 billion
   -- Estimated recovery from collateral/total: 90%/91%
   -- Total value available to unsecured claims: $311 million
   -- Domestic senior unsecured notes: $1.851 billion
   -- Deficiency claim on secured credit facility: $254 million
   -- Domestic pension rejection/amendment claim: $140 million
   -- Total unsecured claims: $2.245 billion
      -- Recovery expectations: 10%-30% (lower half of the range)
   -- Remaining value available for holding company liabilities:
      $0
   -- Unguaranteed senior debentures: $260 million
   -- Asbestos liabilities: $392 million
      -- Recovery expectations: 0%-10%

Note: All debt amounts above include six months of prepetition
interest.  S&P's analysis assumes adjustments or claims for
postretirement liabilities of about 50% of the underfunded amounts.
*Estimated collateral available to the credit facility includes
direct foreign borrowings of about $576 million (euro term loan and
assumed revolving borrowings), $1.054 billion from the net U.S. EV,
and 65% of the equity value in foreign subsidiaries of $578
million.  S&P assumes each of OI's revolving facilities are 85%
drawn at default with 50% of the $600 million multicurrency
facility borrowed abroad.  **This includes domestic and foreign
borrowings as a collection allocation mechanism will equalize
recoveries among all bank lenders.

RATINGS LIST

Owens-Illinois Inc.
Corporate Credit Rating                BB/Negative/--

New Ratings

OI European Group B.V.
EUR600M Sr Unsecd Notes Due 2024       BB
  Recovery Rating                       3H



PADCO PRESSURE: U.S. Trustee Forms Three-Member Committee
---------------------------------------------------------
Henry G. Hobbs, Jr., Acting United States Trustee for Region 5, on
Oct. 27 appointed three creditors of PADCO Pressure Control,
L.L.C., to serve on the official committee of unsecured creditors.

The committee members are:

     (1) INTERIM CHAIRMAN:
         Neil Wood
         Global Pressure Solutions, LLC
         14909 Highway 80
         Minden, LA 71055
         Tel: (318) 453-1143
         E-mail: neil@globalpressure.net

     (2) Oil Field Services
         Michael Bellott
         P.O. Box 1082
         Ruston, LA 71273

     (3) Sanders Machine Inc.
         Ricky Sanders
         200 Corporate Drive
         Sibley, LA 71073

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 PADCO Pressure

PADCO Pressure Control, L.L.C., based in Lafayette, LA, filed a
Chapter 11 petition (Bankr. W.D. La. Case No. 16-51381) on Oct. 4,
2016.  The Hon. Robert Summerhays presides over the case. Thomas E.
St. Germain, member of Weinsten & St. Germain, LLC, as bankruptcy
counsel.

In its petition, the Debtor estimated $0 to $50,000 in assets and
$1 million to $10 million in liabilities. The petition was signed
by Michael Carr, chief executive officer.


PERFORMANCE SPORTS: Case Summary & 40 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                       Case No.
     ------                                       --------
     BPS US Holdings Inc.                         16-12373
     100 Domain Drive
     Exeter, NH 03833

     Bauer Hockey, Inc.                           16-12374
     Easton Baseball / Softball Inc.              16-12375
     Bauer Hockey Retail Inc.                     16-12376
     Bauer Performance Sports Uniforms Inc.       16-12377
     Performance Lacrosse Group Inc.              16-12378
     BPS Diamond Sports Inc.                      16-12379
     PSG Innovation Inc.                          16-12380
     Performance Sports Group Ltd.                16-12381
     KBAU Holdings Canada, Inc.                   16-12382
     Bauer Hockey Retail Corp.                    16-12383
     Easton Baseball / Softball Corp.             16-12384
     PSG Innovation Corp.                         16-12385
     Bauer Hockey Corp.                           16-12386
     BPS Canada Intermediate Corp.                16-12387
     BPS Diamond Sports Corp.                     16-12388
     Bauer Performance Sports Uniforms Corp.      16-12389
     Performance Lacrosse Group Corp.             16-12390

Type of Business: Developer and manufacturer of ice hockey, roller
                  hockey, lacrosse, baseball and softball sports
                  equipment, as well as related apparel and
                  soccer apparel

Chapter 11 Petition Date: October 31, 2016

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

Judge: Hon. Kevin J. Carey

Debtors' Counsel:      Kelley A. Cornish, Esq.
                       Alice Belisle Eaton, Esq.
                       Claudia R. Tobler, Esq.
                       Christopher Hopkins, Esq.
                       PAUL, WEISS, RIFKIND,
                       WHARTON & GARRISON LLP
                       1285 Avenue of the Americas,
                       New York, New York 10019
                       Tel: (212) 373-3000
                       Fax: (212) 757-3990
                       Email: kcornish@paulweiss.com
                              aeaton@paulweiss.com
                              ctobler@paulweiss.com
                              chopkins@paulweiss.com

Debtors'
Co-Counsel:            Pauline K. Morgan, Esq.
                       Sean T. Greecher, Esq.
                       Justin H. Rucki, Esq.
                       Shane M. Reil, Esq.
                       YOUNG CONAWAY STARGATT & TAYLOR, LLP
                       Rodney Square
                       1000 North King Street
                       Wilmington, Delaware 19801
                       Tel: (302) 571-6600
                       Fax: (302) 571-1253
                       Email: pmorgan@ycst.com
                              sgreecher@ycst.com
                              jrucki@ycst.com
                              sreil@ycst.com

Debtors'
Canadian
Legal Counsel:         STIKEMAN ELLIOTT LLP

Debtors'
Investment
Banker to
the Special
Committee:             CENTERVIEW LLP

Debtors'
Restructuring
Advisor:               ALVAREZ & MARSAL NORTH AMERICA, LLC

Debtors'
Communications &
Relations
Advisors:              JOELE FRANK, WILKINSON, BRIMMER,
                       KATCHER

Debtors'
Auditors:              KPMG LLP

Debtors'
CCAA Monitor:          ERNST & YOUNG LLP

Debtors'
Notice, Claims,
Solicitation
and Balloting
Agent:                 PRIME CLERK LLC

Estimated Assets: $500 million to $1 billion

Estimated Debts: $500 million to $1 billion

The petition was signed by Brian J. Fox, chief restructuring
officer.

Consolidated List of Debtors' 40 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Wilmington Savings Fund               Litigation     Undetermined
Society, FSB
Attn: Bennet S. Silverberg
c/o Brown Rudnick LLP
Seven Times Square
New York, NY 10036
United States
Email: bsilverberg@brownrudnick.com
Tel: 212-209-4924

Surewin Worldwide Ltd, Taiwan Branch   Trade Claim     $6,214,232
Attn: Hung Fanglan, Chairman
Bonny Sports Corp.
No. 13, Lane 64 Min-Sheng St. Tan Tzu
Taichung, 31450 Taiwan
Tel: 886(4) 2537-6022
Email: jason@bonny.com;
       bonnyir@bonnysports.com

Sigma Global Company Ltd.              Trade Claim      $3,046,518
Neihu District 114
6 FL NO 168, Suie Guang Road
Taipei, Taiwan ROC, Taiwan

Growth Link Overseas Co. Ltd.          Trade Claim      $2,776,047
Two Chincen Exchange Square
North Point, Hong Kong, China

Sierra Pacific Contructors, Inc.       Trade Claim      $2,539,853
Att: Cary Gerhardt, President
22212 Ventura Blvd.
Woodland Hills, CA 91364
United States
Tel: (818) 225-600
Fax: (818) 225-6001
Email: info@spcinc.com

Cortina Global Corp.                   Trade Claim      $1,679,799
131 Sung Chiang Rd
Ste 901, 9th FL
Taipe, 10485 Taiwan

Prosperous International Ltd           Trade Claim      $1,077,372
Attn: Shuzhong Mao, CEO
Unit 1-2, 1/F, Join-In Hang Sing CN
Kwai Chung, 11111
Hong Kong
Tel: (852) 24243326
Fax: (852) 24804421

Merry Might Co., Ltd.                  Trade Claim      $1,049,686
4th FL, 100, SEC 2, Chang-An
East R
Taipe, 11111 Taiwan

Veraction, LLC                         Trade Claim        $994,791
Attn: Chris Connell, CEO
3400 Players Club Parkway
Suite 300
Memphis, TN 38125
United States
Tel: (901) 755-0110
Fax: (901) 757-5550

Sinmax Intl Co., Ltd.                  Trade Claim        $920,800
4F, 100, SEC. 2, Chang-An East Rd.
Taipei, 11111 Taiwan
Tel: 038-879 137
Fax: 038 879 137

OHH Acquisition Corporation            Trade Claim        $748,968
7101 Executive Center Drive #333
Brentwood, TN 37027-5236
United States
Tel: (615) 880-3892

Woneel America, Inc.                   Trade Claim        $447,408
Attn: DC Kim, President
1520 Oak St.
South Pasadena, CA 91030
United States
Tel: (626) 799-0600
Fax: (626) 568-0976
Email: woneelamerica@gmail.com

PT. Inko Java                          Trade Claim        $408,786
Attn: 1W Han, CEO
JI, Raya PTP XVIII Ngobo, Karangjati
Kab Semarang, 50552
Indonesia
Tel: (62) 298-522147
Fax: (62) 298-522146

HO Jeon Limited                         Trade Claim       $377,745
Attn: Park Yongchul
Representative Director
11-12th F, Shinhwa Bldg 34-1
Mapo Gu, Mapo Dong
Seoul, 121-735
Republic of Korea
Tel: (82) 2 710 5002
Fax: (82) 2 710 5086

Jeffrey I. Carton                   Settlement of Class   $350,000
c/o Denlea & Carton LLP               Action Lawsuit
2 Westchester Park Drive
Suite 410
White Plains, NY 10604
United States
Tel: 914-331-0100
Email: jcarton@denleacarton.com

Aasonn, LLC                             Trade Claim       $300,447
Attn: Randall J. Womack, CEO
184 Shuman Boulevard Suite 530
Naperville, IL 60663
United States
Tel: (630) 718-1562
Fax: (630) 718-1564

Smart & Biggar                          Trade Claim       $278,688
Attn: A. David Morrow, Partner
1000 De La Gauchetiere St., Suite 3300
Montreal, QC H3B 4W5 Canada
Tel: (514) 954-1500
Fax: (514) 954-1396
Email: montreal@smart-biggar.ca

Hold Gold Trading Company Ltd.          Trade Claim       $269,657
PO Box 957
Offshore Incorporation Centre
Tortola, VI
British Virgin Islands

Xjamen Pheasant Hi-Tech                 Trade Claim       $240,193
Alum Co. Ltd.

Loumania, Inc.                          Trade Claim       $239,631
Email: info@loumania.com

Jian Rin Sporting Goods                 Trade Claim       $236,236
Email: tw@jianrin.com

Alliance Precision Plastics             Trade Claim       $235,692

Ponderosa Leather Goods Co. In          Trade Claim       $231,253

Sky Ocean Enterprises Limited           Trade Claim       $214,009

Stahls SNS LLC                          Trade Claim       $208,416
Email: info@stahlinternational.com

Sportskite International Co Lt.         Trade Claim       $207,517
Email: service@sportskite.com.tw

Les Creations Morin Inc.                Trade Claim       $205,262
Email: dmorissette@creationsmorin.com

Gallant Industries Co. Ltd.             Trade Claim       $203,934
Email: bag@gallantbag.com.tw

Olson & Co., Inc.                       Trade Claim       $180,264
Email: nicole.nye@olson.com

Les Estampages Ise Stamping Inc.        Trade Claim       $169,864

New Era Cap Company Inc.                Trade Claim       $154,581

UFP Technologies                        Trade Claim       $153,449

VNSH, LLC                               Trade Claim       $150,000

Top Glory Sports (Hong Kong) Ltd.       Trade Claim       $146,645

Dynac Sports Co. Ltd.                   Trade Claim       $134,133

Power Ace Industries Pte Ltd.           Trade Claim       $126,225

QRC Logistics (1978) Ltd.               Trade Claim       $125,384

Ningbo Rizi Dresses Co. Ltd.            Trade Claim       $108,643

United States Specialty Sports          Trade Claim       $106,250
Email: mark.linnemann@ussa.com

JRZ Canada, Inc.                        Trade Claim        $98,674
Email: info@jrz.ca


PERFORMANCE SPORTS: Files for Bankruptcy with $575M Purchase Deal
-----------------------------------------------------------------
Performance Sports Group Ltd. and certain of its affiliates have
filed voluntary petitions under Chapter 11 of the Bankruptcy Code
in the District of Delaware and commenced proceedings under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice.  

The Debtors have a deal to sell the business on a going concern
basis to a group of investors led by Sagard Capital Partners, L.P.
and Fairfax Financial Holdings for $575 million.

The Wall Street Journal's Jacquie McNish said Fairfax, Sagard and
Toronto-based Brookfield Asset Management said last week they were
considering a possible play for Performance Sports.  Brookfield
remains interested in supporting the Fairfax and Sagard bid, the
person said, but hasn't yet decided whether to join the takeover
bid or lend money through a so-called debtor-in-possession loan.

The Debtors' applications under Chapter 11 and the CCAA are subject
to the supervision and approval of the U.S. and Canadian courts.
The U.S. cases are pending before the Hon. Kevin J. Carey, and the
Debtors have requested that their cases be jointly administered
under Case No. 16-12373.

The Debtors have commenced the bankruptcy cases to facilitate a
financial and corporate restructuring through a going-concern sale
of substantially all of their assets.  The Debtors believe that
pursuing a sale through a Court-supervised restructuring process
represents the best path forward for them and their stakeholders.

                       Road to Bankruptcy

The performance of the Debtors' business in fiscal 2016 and fiscal
2017 to date has been significantly impacted by adverse market and
economic conditions and related customer credit issues.  The
baseball/softball market experienced a significant downturn in
retail sales across all product categories, but particularly in the
Company's important bat category.  This weakening of consumer
demand, coupled with the Chapter 11 filing by one of the largest
U.S. national sporting goods retailers and the bankruptcy of an
internet baseball retailer, has reduced the Company's sales with
respect to baseball and softball products, as disclosed in the
filing.

The consolidation of hockey retailers in the U.S., and the
bankruptcy of a key U.S. hockey customer, has reduced customer
demand for products as the Company's customers have continued to
reduce their inventory levels.  The Company's results throughout
fiscal 2016 and fiscal 2017 to date have also continued to be
impacted negatively by foreign currency exchange rates,
specifically, the depreciation of the Canadian dollar and other
world currencies relative to the U.S. dollar.

The Debtors said that while they have attempted to address and
mitigate many of these issues, including through their cost savings
and profitability improvement initiatives, and corporate
restructurings (including of its baseball/softball segment), the
challenges of their business when taken together with the
significant costs they have incurred, and expects to continue to
incur, in connection with, among other things, completing the
Investigation, defending certain securities class action litigation
and responding to regulatory investigations and inquiries, have
given rise to significant liquidity and cash flow constraints.  It
became increasingly apparent during the course of the Special
Committee's strategic review that absent the legal protection
afforded through the Restructuring Process, the Debtors' cash flow
position would continue to deteriorate.

Bernard McDonell, Chairman, Performance Sports Group, said: "The
board of directors of Performance Sports Group has completed a
thorough financial and strategic review, with the benefit of the
advice of its professional advisors, and is pleased to have reached
an agreement with Sagard Capital and Fairfax Financial.  We believe
that a sale together with an auction process under court
supervision is in the best interests of Performance Sports Group
and will maximize value for our stakeholders when compared to other
alternatives.  In light of our inability to file our annual audited
financial statements and the resulting default under our secured
loan agreements, we believe that today’s action is the
responsible course to take for Performance Sports Group to address
its financial, legal and regulatory challenges under supervision of
the courts.'

Harlan Kent, chief executive officer, Performance Sports Group,
said: "The agreement we have reached with Sagard Capital and
Fairfax Financial is a testament to their confidence in the future
of our business and all of our great brands.  We believe that
pursuing a sale through a court supervised restructuring process
represents the best path forward for our customers, vendors, retail
and business partners, employees and other stakeholders. While the
sale process is underway, our employees will remain focused on
serving our customers and consumers and delivering our industry
leading products and brands.  Our on hand inventories, and normal
procurement activities to date, position us well to fulfill our
customers' orders.  With new financing from Sagard Capital, Fairfax
Financial and our lenders, we will have adequate liquidity to fund
our ongoing operations."

Paul Desmarais III, executive chairman of Sagard Capital, said:
"Performance Sports Group owns some of the most iconic, innovative
and valuable brands in sports.  Our plan provides financial
stability to PSG to ensure that it can maintain operations and
serve customers and retail partners throughout the court process.
As long-term shareholders, our goal is to support PSG's management
in preserving and growing the value of PSG's market-leading
franchises to build a strong, successful business."

Paul Rivett, president of Fairfax Financial, said: "Over the last
90 years, Performance Sports Group has developed the most
recognized names in hockey, baseball and lacrosse with a long-term
commitment to quality and innovation.  We look forward to working
with Sagard Capital to provide the benefits of stable, long-term
ownership to Performance Sports Group through this transitional
restructuring process and hopefully after completion of the sale
process.  We are confident that Performance Sports Group will
continue focusing on innovating the sports equipment that people
around the world know and love."

For the 12 months ending Sept. 30, 2016, the Debtors generated
approximately $569 million in revenue on a consolidated basis.  In
addition, the Debtors had approximately $594 million in assets and
approximately $607 million in liabilities based upon the book value
of these assets and liabilities.  The Debtors had approximately
$7.2 million in cash on hand as of the Petition Date, as disclosed
in Court papers.

As of the Petition Date, the Debtors' primary funded debt
obligations consisted of a $450 million Prepetition Term Loan
Facility and a maximum $200 million revolving Prepetition ABL
Facility, which were entered into in connection with the
acquisition of the Easton Baseball/Softball Business to finance the
purchase and to refinance the Debtors' prior credit facilities.
The total balances under the Debtors' prepetition secured debt
facilities totaled approximately $489.4 million as of the Petition
Date.

                 Financial and Strategic Review
               Undertaken by the Special Committee

The U.S. and Canadian filings are the culmination of a previously
announced financial and strategic review undertaken by the special
committee of the board of directors of the Company.  The Special
Committee, comprised of independent directors, were advised
throughout the process by Centerview Partners LLC as its
independent financial advisor.  The Special Committee's mandate
included a review and evaluation of strategic alternatives and
oversight over discussions with the Company's lenders under the
Term Loan Credit Agreement and the ABL credit agreement, dated as
of April 15, 2014, as amended.

Following completion of the Special Committee's strategic review,
after careful consideration of all available alternatives and
having given due consideration to the interests of all
stakeholders, the boards of directors of the Company and each of
its North American subsidiaries, upon the unanimous recommendation
of the Special Committee and with the assistance, input and advice
from legal and financial advisors, have determined that entering
into the Purchase Agreement and seeking protection under Chapter 11
and the CCAA is in the best interests of the companies and should
ultimately result in improvements to the business' liquidity and
capital structure which are necessary to put the business on a firm
financial and competitive footing in the current business
environment.

                  Delay in Filing of Annual Report

On Aug. 15, 2016, the Company announced that its Annual Report on
Form 10-K, including its annual audited financial statements for
the fiscal year ended May 31, 2016 and the related management's
discussion and analysis would not be filed by the required filing
date of Aug. 15, 2016.  Concurrently with that announcement, the
audit committee of the Board announced that Richards Kibbe & Orbe
LLP and Alix Partners had been retained as independent legal
counsel and financial advisor, respectively, to the Audit Committee
to conduct an internal investigation in relation to the
finalization of the Company's financial statements and related
certification process.  While the Audit Committee and its advisors
have worked diligently to advance the Investigation, at this time,
it remains uncertain when it will be completed.

The Company obtained a 60-day extension through Oct. 28, 2016, from
the lenders under the Existing Loan Agreements to file its Annual
Filings along with the Company's first quarter filings.  In light
of the fact that the Investigation remains ongoing and the timing
for finalizing the Annual Filings remains uncertain, the Company
was unable to deliver the requisite annual audited financial
statements resulting in defaults under the Existing Loan Agreements
as of Oct. 28, 2016.

                     Asset Purchase Agreement

On Oct. 31, 2016, Performance Sports entered into an asset purchase
agreement with a group of investors led by Sagard Capital Partners,
L.P. and Fairfax Financial Holdings for the sale of the Company.
Sagard Capital Partners, L.P. holds approximately 17% of the
Company's equity.  Pursuant to the Purchase Agreement, the
Purchaser has agreed to acquire substantially all of the assets of
the Company and its North American subsidiaries for U.S.$575
million in aggregate, assume related operating liabilities and
serve as a "stalking horse" bidder through the Restructuring
Process.

The Purchase Agreement sets the floor, or minimum acceptable bid,
for an auction under the supervision of the Courts, which is
designed to achieve the highest available or otherwise best offer.
The proceeds to be received on the closing of the acquisition
should be in excess of the Company's outstanding secured
indebtedness and are expected to provide meaningful recoveries to
the Company's other stakeholders.  A final sale approval hearing is
expected to take place shortly after completion of the auction with
the anticipated closing of the successful bid to occur in the first
quarter of calendar year 2017, subject to receipt of applicable
regulatory approvals and the satisfaction or waiver of other
customary closing conditions.

       Talks with Brookfield, Sagard for Potential Deal

In an amended Schedule 13D filed with the Securities and Exchange
Commission, Brookfield Capital Partners Ltd., BCP GP LIMITED,
Brookfield Private Equity Group Holdings LP, Brookfield Private
Equity Inc., Brookfield Asset Management Private Institutional
Capital Adviser (Private Equity), L.P., Brookfield Asset
Management
Inc., 251091708 Delaware LP, PubCo Investments LP, 2484842 Ontario
Limited, et al., disclosed that the Brookfield entities and Sagard
Capital Partners, L.P., a Delaware limited partnership, have
entered into a confidentiality agreement relating to (i)
Performance Sports Group Ltd. and its confidential information, as
required by Sagard's existing confidentiality agreement with the
Company, and (ii) any other confidential information provided by
or
on behalf of Sagard to Brookfield et al.

The Brookfield entities also disclosed that as of Oct. 25, 2016,
they beneficially own 6,026,860 shares of common stock of
Performance Sports Group Ltd. which represents 13.23 percent of
the
shares outstanding.

In an amended Schedule 13D filed with the Securities and Exchange
Commission, Sagard Capital Partners, L.P., Sagard Capital Partners
GP, Inc. and Sagard Capital Partners Management Corp., disclosed
that as of Oct. 25, 2016, they beneficially own 7,721,599 common
shares of Performance Sports Group Ltd. which represents 16.9% of
the shares outstanding.  

Brookfield et al. indicated that they may communicate with members
of management of the Company, the board of directors of the
Company, other shareholders of the Company, lenders to the Company
or other relevant parties from time to time with respect to
operational, strategic, financial or governance matters, including,
but not limited to, potential refinancings (including a
debtor-in-possession financing in the event of a bankruptcy
filing), restructurings, recapitalizations, reorganizations,
mergers, acquisitions, divestitures, a sale of the Company or other
corporate transactions, or otherwise work with management and the
board of directors of the Company.

Brookfield et al. added that they and the Company, and their
respective advisors, have discussed the possibility of Brookfield
et al. and potentially one or more-co-investors partnering with
Brookfield et al., proposing potential plans or proposals that may
involve one or more of the following related to the Company:

    * restructurings;

    * possible issuances by the Company of additional and/or
      refinancing indebtedness;

    * the acquisition of indebtedness of the Company or its
      subsidiaries; and/or

    * other strategic alternatives.

Brookfield et al. said they and their advisors have also conducted,
and continue to conduct, a due diligence review of the Company and
its subsidiaries.

The Brookfield entities may be reached at:

     A.J. Silber
     Brookfield Asset Management Inc.
     Brookfield Place
     181 Bay Street, Suite 300
     Toronto, Ontario M5J 2T3
     Tel: (416) 363-9491

The Brookfield entities are represented by:

     Joshua N. Korff, Esq.
     Elazar Guttman, Esq.
     Ross M. Leff, Esq.
     Kirkland & Ellis LLP
     601 Lexington Avenue
     New York, NY 10022
     Tel: (212) 446-4800

A full-text copy of Brookfield's regulatory filing is available at
https://is.gd/hN6YMP

Sagard can be reached at:

     Samuel Robinson
     Sagard Capital Partners, L.P.
     280 Park Avenue, 3rd Floor West
     New York, NY 10017

A full-text copy of Sagard's regulatory filing is available at
https://is.gd/2SUSVN

                     $386-Mil. DIP Financing

To provide working capital for the Company's operations and to fund
the auction and sales process during the Restructuring Process, the
Company's existing asset-based lenders and the Purchaser have
committed to provide the Company with an aggregate of U.S.$386
million in debtor-in-possession financing.  

Subject to approval of the Courts, U.S.$25 million of the DIP
financing is available to the Company immediately, with the balance
of the financing to be available upon the Courts' approval at a
second hearing, expected to be held on or about Nov. 30, 2016.  The
Company will use the DIP financing, once approved by the Courts,
to, among other things, refinance its term loan credit agreement,
dated as of April 15, 2014, as amended, and fund day-to-day
operations in the ordinary course of business.

The Company intends to use the proceeds from the DIP financing to
pay for all goods and services from vendors provided after the
Chapter 11 and CCAA filing date in accordance with their current
terms.  

                        Business as Usual

During the Chapter 11 and CCAA proceedings, it is expected that the
Debtors' operations will continue uninterrupted in the ordinary
course of business and that day-to-day obligations to employees,
suppliers of goods and services and the Debtors' customers will
continue to be met.

The Debtors have filed a number of customary pleadings seeking
authorization from the Courts to pay certain pre-petition
obligations, support its business operations and transition them
through the Restructuring Process.  These include the payment of
employee wages, salaries and benefits, and certain obligations to
vendors.

In connection with the proceedings commenced in the Ontario
Superior Court of Justice under the CCAA, the Company intends to
seek approval for the appointment of Ernst & Young Inc. as monitor.
In that capacity, Ernst & Young Inc. will work with management
throughout the Restructuring Process while overseeing the CCAA
proceedings and reporting to the Court.

               About Performance Sports Group Ltd.

Exeter, N.H.-based Performance Sports Group Ltd. (NYSE: PSG) (TSX:
PSG) -- http://www.PerformanceSportsGroup.com/-- is a developer
and manufacturer of ice hockey, roller hockey, lacrosse, baseball
and softball sports equipment, as well as related apparel and
soccer apparel.  Its products are marketed under the BAUER,
MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names
and are distributed by sales representatives and independent
distributors throughout the world.  In addition, the Company
distributes its hockey products through its Burlington,
Massachusetts and Bloomington, Minnesota Own The Moment Hockey
Experience retail stores.  

The U.S. Debtors are: BPS US Holdings Inc.; Bauer Hockey, Inc.;
Easton Baseball/Softball Inc.; Bauer Hockey Retail Inc.; Bauer
Performance Sports Uniforms Inc.; Performance Lacrosse Group Inc.;
BPS Diamond Sports Inc.; and PSG Innovation Inc.

The Canadian Debtors are: Performance Sports Group Ltd.; KBAU
Holdings Canada, Inc.; Bauer Hockey Retail Corp.; Easton Baseball /
Softball Corp.; PSG Innovation Corp. Bauer Hockey Corp.; BPS Canada
Intermediate Corp.; BPS Diamond Sports Corp.; Bauer Performance
Sports Uniforms Corp.; and Performance Lacrosse Group Corp.
       
The Debtors have hired Paul, Weiss, Rifkind, Wharton & Garrison LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as co-counsel;
Stikeman Elliott LLP as Canadian legal counsel;  Centerview LLP as
investment banker to the special committee; Alvarez & Marsal North
America, LLC, as restructuring advisor; Joele Frank, Wilkinson,
Brimmer, Katcher as communications & relations advisor; KPMG LLP as
auditors; Ernst & Young LLP as CCAA monitor; and Prime Clerk LLC as
notice, claims, solicitation and balloting agent.


PLANET FITNESS: Moody's Affirms B1 Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service affirmed Planet Fitness Holdings, LLC's
B1 Corporate Family Rating (CFR) and its B2-PD Probability of
Default Rating. In connection with action, Moody's affirmed the B1
rating on the company's senior secured bank facility. The facility
will be amended to include a proposed $230 million incremental term
loan, as well as a proposed $35 million increase to the commitment
under the revolver. Proceeds from the proposed add-on to the term
loan, along with cash from the balance sheet, will be used to fund
up to a $280 million cash dividend and to pay related fees and
expenses. The revolver will remain undrawn at closing. Moody's also
affirmed the company's SGL-2 Speculative Grade Liquidity Rating.
The rating outlook is stable.

The following ratings were affirmed:

   -- Corporate Family Rating affirmed at B1;

   -- Probability of Default Rating affirmed at B2-PD;

   -- $75 million Sr. Secured Revolving Credit Facility expiring
      2019 affirmed at B1 (LGD3) (includes proposed $35 million
      facility increase);

   -- $720 million Sr. Secured Term Loan B due 2021 affirmed at B1

      (LGD3) (orig. $740 million, including proposed $230 million
      incremental facility);

   -- Speculative Grade Liquidity Rating affirmed at SGL-2;

   -- Rating outlook remains stable.

All ratings assignments are to subject to Moody's review of final
terms and conditions and could be affected by modifications to
either the proposed capital structure or the anticipated use of
proceeds.

RATINGS RATIONALE

Planet Fitness' B1 CFR reflects the company's pro forma debt/EBITDA
of 4.9x as of September 30, 2016 following the proposed $230
million add-on to its existing senior secured term loan, which is
in line with similarly-rated business and consumer service
companies (all ratios incorporate Moody's standard adjustments).
The proposed transaction is credit negative because it increases
leverage and cash interest expense, and demonstrates continued
aggressive financial policies following the 2015 IPO. Moody's is
nevertheless affirming the B1 CFR because it projects that
debt-to-EBITDA leverage will improve to close to 4.5x over the next
12 to 18 months, primarily from growth in operating profits. The
rating also considers Planet Fitness' small revenue base, its
exposure to discretionary spending trends and competition from
other low-cost health club operators. Also factored into the rating
is financial policy and event risk, given three debt-financed
distributions to the owners in less than three years and the former
private equity sponsor's controlling interest in the company.

The B1 CFR is supported by the company's strong system-wide same
store sales growth and faster-than-expected growth in both club and
membership count. Planet Fitness' franchise-based business model is
less capital-intensive and has lower earnings volatility than the
company-owned model used by most of its competitors, allowing the
company to generate strong EBITA margins in excess of 35% and
stable cash flows. The company also generates a significant share
of its revenue from exclusive fitness equipment sales to its
franchisees, which are required to purchase new equipment every
four to seven years. Pro forma interest coverage, measured as
EBITA/interest expense, was about 3.6x for the 12 months ended
September 30, 2016, and Moody's expects that this will strengthen
to close to 4.0x times over the next 12 to 18 months. The company
also has a diverse franchise base, with no one franchisee owning
more than 6% of total clubs. In addition, Planet Fitness benefits
from its business position as a large-scale, national fitness club
operator, as well as favorable long-term fundamentals for the
fitness industry. There is limited visibility into franchisees
aside from combined same-store sales growth, but a deterioration in
franchisee operating performance or financial position would be
credit negative for Planet Fitness.

The SGL-2 Speculative Grade Liquidity Rating reflects the company's
good liquidity profile, supported by a $75 million undrawn
revolving credit facility with no outstanding letters of credit
(includes proposed incremental commitment of $35 million). Pro
forma for the proposed transaction, Planet Fitness had a cash
balance of $10 million as of September 30, 2016 and Moody's expects
strong free cash flow of roughly $50 million over the next 12
months. The cash sources provide good coverage of cash needs. Aside
from the 2019 revolver expiration and $7.4 million of required
annual term loan amortization (pro forma), the company has no
material debt maturities until the term loan matures in 2021. The
sole financial covenant for the revolver is a maximum total net
leverage covenant with periodic step downs, and Moody's expects the
company to maintain sufficient headroom under the covenant. The
term loan has no financial covenants. All of Planet Fitness' assets
are encumbered to secure borrowings under the senior secured bank
facility and the facilities for company-owned locations are leased;
however, the credit agreement permits asset sales to franchisees
(with certain limitations), providing an alternate source of
liquidity.

The B1 ratings on Planet Fitness' senior secured revolver and term
loan are in line with the company's CFR, as the bank facility
comprises 100% of the company's debt capital structure.

The stable rating outlook reflects Moody's expectation that
operating performance will continue to improve over the next year
as the company expands its network of franchised clubs. In
addition, Moody's expects that free cash flow will remain positive
and that the company will reduce debt/EBITDA to close to 4.5x by
the end of 2017.

An upgrade is unlikely given the company's small size and
expectations that total debt will remain well in excess of annual
revenues over our forecast horizon, coupled with event risk related
to the material private equity ownership overhang. However,
positive rating actions could be taken if the company achieves
significant profitable growth in total revenues and continued
system-wide and comparable club revenue growth while maintaining an
overall good liquidity profile. In terms of financial metrics, a
commitment to debt/EBITDA sustained below 4.0x and free cash flow
to debt above 8% could result in positive rating actions.

The ratings could be downgraded if debt/EBITDA is sustained above
5.0x or if EBITA interest coverage approaches 2.0x. A material
weakening of the company's liquidity profile or additional
debt-financed distributions could lead to negative rating actions.

The principal methodology used in these ratings was "Business and
Consumer Service Industry" published in October 2016.

Planet Fitness franchises and owns and operates fitness clubs
across the United States, Canada and in Puerto Rico. There were
1,242 Planet Fitness locations as of September 30, 2016, of which
1,184 were franchised and 58 were company-owned and operated.
Planet Fitness is currently majority-owned by TSG Consumer Partners
and two of the company's original franchising cofounders. During
the 12 months ended September 30, 2016, Planet Fitness generated
$368 million in corporate revenue ($1.8 billion of system-wide
sales).


PLANET INTERMEDIATE: S&P Affirms 'BB-' CCR, Outlook Stable
----------------------------------------------------------
S&P Global Ratings said it affirmed its 'BB-' corporate credit
rating on Planet Intermediate LLC.  The rating outlook is stable.

At the same time, S&P affirmed its 'BB-' issue-level rating on
direct subsidiary Planet Fitness Holdings LLC's proposed upsized
aggregate $815 million senior secured credit facility (consisting
of an upsized $75 million undrawn revolver due 2019 and an upsized
$740 million term loan B due 2021).  The recovery rating on the
facility remains '3', reflecting S&P's expectation for meaningful
(50%-70%; lower half of the range) recovery for lenders in the
event of a payment default.  S&P affirmed the issue-level rating on
the senior secured facility despite the incremental debt because it
is offset by an increase in our emergence valuation on the company
to reflect a material level of club openings in 2016.

The company plans to raise the additional $230 million term loan
under its existing senior secured credit facility.  This
incremental debt will have the same 2021 maturity and other terms
as the existing facility and the aggregate size of the senior
secured facility will increase to $815 million upon closing. Planet
plans to use the proceeds, along with cash on the balance sheet, to
fund up to a $280 million distribution to the company's
shareholders and to pay fees and expenses.

"The affirmation reflects our expectation that strong anticipated
operating performance through 2017 will largely offset the
incremental leverage added by the proposed transaction," said S&P
Global Ratings credit analyst Justin Gerstley.

S&P expects adjusted debt to EBITDA in 2016 will increase to around
5x, about 1x higher than S&P's previous base-case forecast for
2016.  In addition, S&P expects FFO to debt will deteriorate to
near 12% in 2016, several percentage points lower than S&P's
previous base-case forecast for 2016.  S&P continues to factor into
its aggressive financial risk assessment on Planet Intermediate the
tendency of financial sponsor controlled companies to increase
leverage over time to fund distributions to shareholders, as well
as management's policy that it could increase leverage up to 5x on
a reported basis.  In addition, S&P's revised debt to EBITDA
forecast in 2017 will be below its 5x debt to EBITDA and at about
our 12% FFO to debt downgrade thresholds.  The affirmation also
reflects S&P's expectation the company will continue to
successfully expand its franchise base and experience good growth
at existing franchise and company-owned stores.

The stable outlook reflects S&P's belief that the company's
sponsor, TSG Consumer Partners LLC, may continue to sell down its
ownership stake and that Planet Intermediate will not engage in
leveraging transactions that returns capital to shareholders in a
manner that sustains adjusted debt to EBITDA above 5x or FFO to
debt below 12%, which are our downgrade thresholds.  In addition,
the sponsor's 46.5% controlling interest and management's stated
financial policy will most likely limit any upgrade from
improvement in credit measures that would otherwise occur from
expected good operating performance.



POSITIVEID CORP: Stockholders Elect Four Directors
--------------------------------------------------
PositiveID Corporation held an annual meeting of stockholders
on Oct. 26, 2016, at which the stockholders:

   (a) approved the grant of discretionary authority to the Board
       of Directors until the Company's next annual meeting of
       stockholders to adopt an amendment to the Company's Third
       Amended and Restated Certificate of Incorporation, as may
       be amended from time to time, to decrease the Company's
       authorized capital stock from 3,900,000,000 shares to
       1,900,000,000 shares, such that the capital stock of the
       Company will consist of 1,895,000,000 shares of common
       stock, par value $0.001 per share, and 5,000,000 shares of
       preferred stock, par value $0.01 per share;

   (b) elected William J. Caragol, Jeffrey S. Cobb, Michael E.
       Krawitz and Ned L. Siegel as directors to hold office until
       the 2017 annual meeting of stockholders and until their
       successors have been duly elected and qualified;

   (c) ratified the appointment of Salberg & Company, P.A. as the
       Company's independent registered public accounting firm for
       the year ending Dec. 31, 2016;  

   (d) approved the Company's Third Amended and Restated
       Certificate of Incorporation; and

   (e) approved the resolutions that have been adopted by the
       Company's Board of Directors to ratify each possible
      "defective corporate act" (as defined in Section 2014 of the
       Delaware Corporation General Law) set forth in those  
       resolutions and to approve the filing of certificates of
       validation with the Secretary of State of Delaware.

A quorum was present because 29,663,147 shares of common stock,
representing holders of over 76% of the Company's shares of common
stock outstanding (38,649,070) on the Record Date (as defined in
the Company's proxy materials), submitted votes by proxy or in
person at the Annual Meeting.  Each of the 2,262 shares of Series
II Preferred Stock outstanding on the Record Date submitted votes
by proxy or in person at the Annual Meeting.

                        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.

As of June 30, 2016, PositiveID had $2.85 million in total assets,
$16.2 million in total liabilities and a stockholders' deficit of
$13.35 million.

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.


PROFESSIONAL DIVERSITY: Extends Self-Tender Offer Until Nov. 7
--------------------------------------------------------------
Professional Diversity Network, Inc. has extended the expiration
date of its self-tender offer for up to 312,500 shares of its
common stock until 10:00 a.m., New York City time, on Nov. 7, 2016,
unless further extended or terminated.  Except for the extension of
the tender offer, all other terms and conditions of the tender
offer remain unchanged.

Continental Stock Transfer & Trust Company, Inc., the depositary
for the tender offer has advised that as of 10:00 a.m., New York
City time, on Oct. 27, 2016, approximately 1,023,818 shares of
common stock have been validly tendered and not withdrawn pursuant
to the tender offer, representing approximately 56.41% of the
outstanding shares.

PDN is extending the expiration date of the tender offer because
the condition relating to receipt of approval from the Committee on
Foreign Investment in the United States (CFIUS) with respect to the
proposed issuance of 51% of PDN's outstanding common stock on a
fully diluted basis to Cosmic Forward Limited has not yet been
satisfied as of the previously scheduled expiration date of the
tender offer.

                  About Professional Diversity

Professional Diversity Network, Inc., is a dynamic operator of
professional networks with a focus on diversity.  The Company
serves a variety of such communities, including Women,
Hispanic-Americans, African-Americans, Asian-Americans, Disabled,
Military Professionals, and Lesbian, Gay, Bisexual and Transgender
(LGBT).  The Company's goal is (i) to assist its registered users
and members in their efforts to connect with like-minded
individuals, identify career opportunities within the network and
(ii) connect members with prospective employers while helping the
employers address their workforce diversity needs.  

As of June 30, 2016, Professional Diversity had $37.4 million in
total assets, $16.5 million in total liabilities and $20.9
million in total stockholders' equity.

The Company reported a net loss of $35.8 million in 2015 following
a net loss of $3.65 million in 2014.


R & R INDUSTRIES: Disclosures Conditionally OK'd; Hearing on Dec. 1
-------------------------------------------------------------------
The Hon. Cynthia C. Jackson of the U.S. Bankruptcy Court for the
Middle District of Florida has conditionally approved R & R
Industries, Inc.'s disclosure statement referring to the Debtor's
plan of reorganization.

A hearing to consider the adequacy of the Disclosure Statement and
the confirmation of the Plan will be held on Dec. 1, 2016, at 2:45
p.m.

Creditors and other parties in interest will file with the Clerk
their written acceptances or rejections of the Plan (ballots) no
later than seven days before the date of the Confirmation
Hearing.

Objections to Disclosure Statement or confirmation of the Plan must
be filed no later than seven days before the date of the
confirmation hearing.

The Debtor will file a ballot tabulation no later than four days
before the date of the confirmation hearing.

All creditors and parties-in-interest that assert a claim against
the Debtor which arose after the filing of this case, including all
attorneys, accountants, auctioneers, appraisers, and other
professionals for compensation from the estate of the Debtor, must
timely file applications for the allowance of the claims with the
Court allowing at least 21 days notice time prior to the date of
the confirmation hearing.

An election pursuant to 11 U.S.C. Section 1111(b) must be filed no
later than 7 days before the date of the confirmation hearing.

Four days prior to the confirmation hearing, the Debtor will file a
confirmation affidavit which will contain the factual basis upon
which the Debtor relies in establishing that each of the
requirements of 11 U.S.C. Section 1129 of the Bankruptcy Code are
met.

                      About R & R Industries

R & R Industries, Inc., filed a Chapter 11 petition (Bankr. M.D.
Fla. Case No. 16-00346) on Jan. 18, 2016.  Scott W. Spradley, Esq.,
at The Law Offices of Scott W Spradley, P.A., in Flagler Beach,
Florida, serves as the Debtor's counsel.  The Debtor estimated less
than $10 million in liabilities.


RENNOVA HEALTH: Aella Ltd. Reports 5.6% Stake as of Sept. 21
------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Aella Ltd., disclosed that as of Sept. 21, 2016, it
beneficially owns 3,073,493 Shares (or approximately 5.6% of the
total number of Shares deemed outstanding) of Rennova Health, Inc.
Aella may be deemed to have shared dispositive and voting power
with respect to those Shares with The Olive Tree Trust and P.
Wilhelm F. Toothe, as trustee of The Olive Tree Trust.  Those
Shares do not include Shares owned by a third party entity, and
which third party entity is owned by a trust of which P. Wilhelm F.
Toothe serves as trustee.

The Amendment No. 1 to Schedule 13D was filed to report the
conversion by Aella of 1,000 shares of the Issuer's Series B
Convertible Preferred Stock on Sept. 21, 2016, into 1,146,789
Shares.

On Aug. 5, 2016, Aella was issued 83,334 Shares (at $0.30 per
Share), by the Company in exchange for the cancellation of certain
outstanding indebtedness the Company owed to Aella.

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

                   https://is.gd/J6QboH

                        About Rennova

Rennova Health, Inc. is a vertically integrated provider of a suite
of healthcare related products and services.  Its principal lines
of business are diagnostic laboratory services, and supportive
software solutions and decision support and informatics operations
services.

As of June 30, 2016, Rennova had $18.4 million in total assets,
$29.3 million in total liabilities and a $10.9 million total
stockholders' deficit.  

The Company reported a net loss attributable to the Company's
common shareholders of $36.4 million for the year ended Dec. 31,
2015, following net income attributable to the Company's common
shareholders of $2.81 million for the year ended Dec. 31, 2014.

The Company said in its annual report for the year ended Dec. 31,
2015, that "Although our financial statements have been prepared on
a going concern basis, we have recently accumulated significant
losses and have negative cash flows from operations, which raise
substantial doubt about our ability to continue as a going
concern.

"If we are unable to improve our liquidity position we may not be
able to continue as a going concern. The accompanying consolidated
financial statements do not include any adjustments that might
result if we are unable to continue as a going concern and,
therefore, be required to realize our assets and discharge our
liabilities other than in the normal course of business which could
cause investors to suffer the loss of all or a substantial portion
of their investment."


RESOLUTE ENERGY: Firewheel Energy et al., Hold 12.1% Equity Stake
-----------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Firewheel Energy, LLC, EnCap Energy Capital Fund VIII,
L.P., and EnCap Partners, LLC disclosed that as of Oct. 7, 2016,
they beneficially own 2,114,523 shares of common stock of Resolute
Energy Corporation which represents 12.06 percent of the shares
outstanding.  A full-text copy of the regulatory filing is
available for free at https://is.gd/3GJmLV

                  About Resolute Energy Corporation

Resolute Energy Corp. -- http://www.resoluteenergy.com/-- is an
independent oil and gas company focused on the acquisition,
exploration, exploitation and development of oil and gas
properties, with a particular emphasis on liquids focused,
long-lived onshore U.S. opportunities.  Resolute's properties are
located in the Paradox Basin in Utah and the Permian Basin in Texas
and New Mexico.

As of June 30, 2016, Resolute had $318 million in total assets,
$639 million in total liabilities and a total stockholders' deficit
of $322 million.

Resolute reported a net loss of $742 million in 2015, a net loss of
$21.9 million in 2014, and a net loss of $114 million in 2013.


RITE AID: Fitch Maintains 'B' LT Issuer Default Rating on RWP
-------------------------------------------------------------
Fitch Ratings has maintained Rite Aid Corporation's 'B' Long-Term
Issuer Default Rating (IDR) on Rating Watch Positive.

Fitch placed Rite Aid on Rating Watch Positive following the
October 2015 announcement by Walgreens Boots Alliance, Inc.
(Walgreens) that it will acquire all outstanding shares of Rite
Aid, for $9.00 per share in cash, for a total enterprise value of
approximately $17.2 billion, including acquired net debt. This
values Rite Aid at almost 14x Fitch's projected 2016 EBITDA of
approximately $1.25 billion including a full year of results from
its June 2015 of EnvisionRx. Walgreens expects the transaction to
close in early 2017, subject to approval by antitrust regulators.

The Rating Watch Positive reflects Walgreen's significant financial
strength. Fitch's 'BBB' rating on Walgreens reflects our
expectations that leverage (including Rite Aid) could improve to
the low-3x by fiscal 2019 from a proforma leverage in the low-4x
based on growth in WBA's EBITDA, realization of the expected Rite
Aid synergies, as well as use of FCF for debt repayment. The
company's $1 billion cost synergy target from this acquisition is
predicated largely on improved sourcing, in addition to reducing
duplicative costs in the combined entity. Based on visibility into
these synergy opportunities, Fitch believes at least $750 million
of the $1 billion targeted synergy savings are possible by fiscal
2019, though mitigated by around $400 million EBITDA reduction,
assuming the FTC mandates approximately 1,000 store divestitures
due to local market share concerns.

Walgreens will finance the deal with existing cash, new debt
issuance and assumption of existing RAD debt. Fitch estimates
Walgreens will fund the acquisition with $14.6 billion of debt. Of
the $7.3 billion in outstanding Rite Aid debt, Walgreens will pay
off $5 billion and assume $2.3 billion of unsecured debt, which is
made up of the $1.8 billion notes due 2023, $295 million notes due
2027 and $128 million notes due 2028. Walgreens has obtained $6
billion in term loans and $6 billion of unsecured notes to fund the
acquisition.

KEY RATING DRIVERS

Improved Retail Network

The merger will create the dominant U.S. drugstore network of
approximately 13,000 stores with a U.S. sales base of $115 billion
(Walgreens Retail Pharmacy USA division plus Rite Aid consolidated
sales, including EnvisionRx), prior to any potential FTC-mandated
divestitures. There are about 13 states, primarily located in the
East Coast and California where the companies each operate about
3,000 stores and have sizeable overlap that could see antitrust
concerns. Fitch has modelled 1,000 FTC mandated divestitures in its
projections. Longer term, the company could continue to rationalize
the store base further to consolidate market share and improve
profitability.

Rite Aid would improve Walgreens' national retail coverage,
particularly in Southern California and Northeastern U.S. markets,
positioning it well to compete for inclusion in narrow and
preferred pharmacy networks. At the end of Walgreens' fiscal 2015
(ending Aug 2015), 76% of U.S. households operated within a
five-mile radius of a Walgreens or Duane Reade (also owned by
Walgreens) and Fitch anticipates the coverage is likely to rise to
the mid-to-high 80% range at the close of the acquisition.

Update on Rite Aid's Retail Business on Stand Alone Basis

Fitch expects Rite Aid's EBITDA before the contribution from
EnvisionRx to be $1.0 billion - $1.1 billion in 2016 and
potentially below $1 billion in 2017. This compares to $1.3 billion
in 2015.

Rite Aid's pharmacy comps slowed considerably beginning 2Q15 from
4%+ over the prior two years as the company began to cycle the
prior year's strong Medicaid expansion benefit. Pharmacy script
count was negative 2% in 2Q16 versus being relatively flat over the
prior four quarters given pressure on the Med Part D business. The
reimbursement rate cuts continue to pressure gross margin and Fitch
expects retail gross margin to decline 25 - 50 bps annually over
the next 2 - 3 years. Front end sales have been flat to modestly
positive as the company has dedicated increased capex toward store
remodels and some store relocation activity. As a result, Fitch
expects same-store sales to be negative 1.5% in 2016 and flat to
modestly negative in 2017.

Update On EnvisionRx

Rite Aid's acquisition of EnvisionRx, an independent full-service
pharmacy benefit management (PBM) company, closed in June 2015 and
has since generated a full year of business, producing $6.3 billion
in revenues and approximately $160 million in adjusted EBITDA for
the LTM period ended Aug. 27, 2016. Fitch views this acquisition as
a positive move as it will enable the company to expand its
distribution channels by getting a foothold in the specialty and
mail-order channels. The acquisition was supported by Rite Aid's
improved credit metrics and cash flow profile over the preceding
three years, enabling it to start making investments that will help
strengthen its competitive positioning over the medium-longer term
in the complex and evolving healthcare landscape where there is
increased demand for an integrated health and wellness offering.
Fitch expects EBITDA from EnvisionRx could potentially double over
the next five years on additional contract wins and growth in its
specialty business.

KEY ASSUMPTIONS

   -- Rite Aid's EBITDA before the contribution from EnvisionRx is

      expected to be $1.0 billion - $1.1 billion in 2016 and
      potentially below $1 billion in 2017. Same store sales of
      negative 1.5% in 2016 and flat to modestly negative in 2017.

      Retail gross margin is expected to remain under pressure due

      to reimbursement rate cuts in the pharmacy business.

   -- EnvisionRx is projected to have 2016 revenues of
      approximately $6.1 billion and EBITDA in a range of $180 to
      $200 million. Fitch expects EBITDA from this business could
      potentially double over the next five years on additional
      contract wins and growth in its specialty business.

    -- Fitch expects FCF to be close to $200 million in 2016 and
       $100 million in 2017. Leverage is expected to be in the mid

       6x over the next 24 - 36 months.

RATING SENSITIVITIES

Fitch would expect to upgrade Rite Aid's existing debt to the 'BBB'
category assuming the merger closes as contemplated. If the merger
is terminated, future developments that may, individually or
collectively, lead to a positive rating action is if Rite Aid
sustains positive comparable store sales and EBITDA in the $1.5
billion range or better, enabling to company to further reduce debt
and reduce adjusted debt/EBITDAR towards the mid-5.0x range.

Negative Rating Action: A negative rating action, without the
acquisition, could result from deteriorating sales and
profitability trends that take leading to negative FCF and leverage
towards 8x.

LIQUIDITY

Rite Aid had total liquidity of $1.4 billion as of August 27, 2016,
consisting of $136 million in cash and $1.3 billion of revolver
availability. Fitch expects FCF to be close to $200 million in 2016
and $100 million in 2017.

RECOVERY CONSIDERATIONS - for Rite Aid on Standalone Basis

The issue ratings below are derived from the IDR and the relevant
Recovery Rating. Fitch's recovery analysis assumes distressed
enterprise value of approximately $6.0 billion on Rite Aid's
existing inventory, receivables, prescription files and owned real
estate.

The $3.7 billion revolving credit facility due January 2020 has a
first lien on the company's cash, accounts receivable, investment
property, inventory, and script lists, and is guaranteed by Rite
Aid's subsidiaries. This results in outstanding recovery prospects
(91% - 100%) that support the 'BB/RR1' rating. The senior secured
credit facility requires the company to maintain a minimum fixed
charge coverage ratio of 1.0x only if availability on the revolving
credit facility is less than $175 million at any time.

The $970 million in Tranche 1 and Tranche 2 term loans have a
second lien on the same collateral as the revolver and term loans
and are guaranteed by Rite Aid's subsidiaries. These are also
expected to have outstanding recovery prospects and are rated
'BB/RR1'.

The existing $3.5 billion guaranteed unsecured notes are expected
to have average recovery prospects (31%-50%) and are therefore
rated 'B/RR4'. The approximately $420 million unsecured
non-guaranteed notes are assumed to have poor recovery prospects
(0% - 10%) in a distressed scenario.

FULL LIST OF RATING ACTIONS

Fitch maintains Positive Watch on the following ratings:

   Rite Aid

   -- Long-Term IDR 'B';

   -- Secured revolving credit facility and term loans 'BB'/'RR1';

   -- Guaranteed Senior Unsecured Notes 'B'/'RR4'

   -- Non-guaranteed senior unsecured notes 'CCC+'/'RR6'.



ROOT9B TECHNOLOGIES: Stockholders OK Reverse Common Stock Split
---------------------------------------------------------------
root9B Technologies, Inc., held its 2016 special meeting of
stockholders on Oct. 24, 2016.  A total of 64,048,155 shares of
common stock -- including 2,380,952 shares of Series C Preferred
Stock that voted as if converted to 7,142,856 shares of common
stock -- or approximately 69.99% of the Company's common stock
issued and outstanding as of the record date of Sept. 9, 2016, were
represented at the Meeting in person or by proxy, which constituted
a quorum.

At the Meeting, the stockholders approved an amendment to the
Company's certificate of incorporation to effect a reverse stock
split at a ratio to be determined by the Company's Board of
Directors within the range of 1:9 to 1:18.

The stockholders also approved an amendment to the Company's
certificate of incorporation to decrease the number of authorized
shares of common stock.

                          About Root9B

Root9B Technologies, Inc., is a provider of cybersecurity, business
advisory services principally in regulatory risk mitigation, and
energy and controls solutions. As of June 30, 2016, Root9B had
$34.75 million in total assets, $13.81 million in total liabilities
and $20.93 million in total stockholders' equity.

Root9B reported a net loss of $8.33 million in 2015 following a net
loss of $24.43 million in 2014.

Root9B Technologies said in its quarterly report on Form 10-Q for
the three months ended June 30, 2016, that the Company continues to
pursue available options for obtaining additional financing.
However, no assurances can be given that the Company will be
successful in obtaining the necessary financing.  Without
additional funding, the issues of not generating material revenue
increases and having negative operating cash flows, among other
issues, raise substantial doubt about the Company's ability to
continue as a "going concern."


ROYAL FLUSH: Hires Calaiaro Valencik as Counsel
-----------------------------------------------
Royal Flush, Inc., seeks authority from the U.S. Bankruptcy Court
for the Western District of Pennsylvania to employ Calaiaro
Valencik as counsel to the Debtor.

Royal Flush requires Calaiaro Valencik to:

   a. prepare the bankruptcy petition and attendance at the first
      meeting of creditors;

   b. represent the Debtor in relation to acceptance or rejection
      of executory contracts;

   c. advise the Debtor with regard to its rights and obligations
      during the Chapter 11 reorganization;

   d. advise the Debtor regarding possible preference actions;

   e. represent of the Debtor in relation to any motions to
      convert or dismiss the Chapter 11 case;

   f. represent of the Debtor in relation to any motions for
      relief from stay filed by creditors;

   g. prepare the Plan of Reorganization and Disclosure
      Statement;

   h. prepare any objection to claims in the Chapter 11 case; and

   i. represent the Debtor in general.

Calaiaro Valencik will be paid at these hourly rates:

     Donald R. Calaiaro               $350
     David Z. Valencik                $300
     Staff Attorney                   $250
     Paralegal                        $100

Calaiaro Valencik will be paid a retainer in the amount of $8,000.

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

To the best of the Debtor's knowledge 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 and
its estates.

Calaiaro Valencik can be reached at:

     Donald R. Calaiaro, Esq.
     David Z. Valencik, Esq.
     428 Forbes Avenue, Suite 900
     Pittsburgh, PA 15219-1621
     Tel: (412) 232-0930
     E-mail: dcalairo@c-vlaw.com
             dvalencik@c-vlaw.com

                       About Royal Flush

Headquartered in Spring Church, Pennsylvania, Royal Flush, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. W.D. Pa. Case
No. 16-23458) on Sept. 15, 2016, estimating its assets and
liabilities at between $1 million and $10 million each. The
petition was signed by Carol A. Swank, secretary/treasurer.

Judge Jeffery A. Deller presides over the case.  Donald R.
Calaiaro, Esq., at Calaiaro Valencik serves as the Debtor's
bankruptcy counsel.

Andrew R. Vara, Acting U.S. Trustee for Region 3, on Oct. 20, 2016,
appointed five creditors of Royal Flush, Inc., to serve on the
official committee of unsecured creditors.


SAEXPLORATION HOLDINGS: Amends Senior Loan Facility
---------------------------------------------------
SAExploration Holdings, Inc., as borrower, and each of the
Company's domestic subsidiaries, as guarantors, on June 29, 2016,
entered into a new senior secured multi-draw term loan facility
with the lenders, including the so-called Supporting Holders, from
time to time party thereto, and Delaware Trust Company, as
collateral agent and administrative agent.  In addition to the
Supporting Holders, all holders of Existing Notes that participated
in the Exchange Offer were also able to participate as lenders in
the Senior Loan Facility based on their proportionate ownership of
Existing Notes.  The Senior Loan Facility provides, pursuant to the
previously reported borrowing schedule, up to a maximum amount of
$30 million.

The Company and a majority of the Lenders of the Senior Loan
Facility have entered into a First Amendment, dated as of Oct. 24,
2016, to the Senior Loan Facility.

The First Amendment removed the condition requiring the Company to
receive tax credit certificates from the State of Alaska in an
amount of at least $25 million.  The First Amendment provides that
the Lender's obligation to make any Subsequent Advances is subject
to the fulfillment of each condition to the Second Advance to the
satisfaction of the Lenders, as defined in the Senior Loan
Facility.

               About SAExploration Holdings, Inc.

SAExploration Holdings, Inc., and its subsidiaries are
internationally-focused oilfield services company offering a full
range of vertically-integrated seismic data acquisition and
logistical support services in Alaska, Canada, South America, and
Southeast Asia to its customers in the oil and natural gas
industry.  In addition to the acquisition of 2D, 3D, time-lapse 4D
and multi-component seismic data on land, in transition zones
between land and water, and offshore in depths reaching 3,000
meters, the Company offers a full-suite of logistical support and
in-field data processing services.  The Company operates crews
around the world that are supported by over 29,500 owned land and
marine channels of seismic data acquisition equipment and other
leased equipment as needed to complete particular projects.

SAExploration reported a net loss attributable to the Corporation
of $9.87 million in 2015 following a net loss attributable to the
Corporation of $41.8 million in 2014.

As of June 30, 2016, SAExploration had $207 million in total
assets, $221 million in total liabilities and a total
stockholders' deficit of $13.9 million.

                        *     *     *

In June 2016, S&P Global Ratings lowered its corporate credit
rating on SAExploration Holdings to 'CC' from 'CCC-'.  The outlook
remains negative.  The downgrade follows SAExploration's
announcement that it plans to launch an exchange offer to existing
holders of its 10% senior secured notes for shares of common equity
and a new issue of second-lien notes.

In September 2016, Moody's Investors Service withdrew
SAExploration's 'Caa2' Corporate Family Rating and other ratings.


SAEXPLORATION HOLDINGS: Has Access to Remaining $15-Mil. Loan
-------------------------------------------------------------
SAExploration Holdings, Inc. announced that it has received
approximately $24.4 million of tax credit certificates from the
state of Alaska's Department of Revenue.  SAE further announced
that as a result of receiving these tax credit certificates, and
having substantially satisfied the conditional requirements under
its senior term loan facility, it has been granted access to the
remaining $15 million of funding available under its Senior Loan
Facility.

Jeff Hastings, Chairman and CEO of SAE, commented, "We are very
pleased that we have begun to receive tax credit certificates from
the State of Alaska sooner than expected and access to the
remaining $15.0 million under our Senior Loan Facility ensures our
ability to progress through the receipt and monetization of the
remaining tax credits.  We believe the value that can ultimately be
derived from these tax credit certificates, and those yet to be
issued, will be highly accretive to the company and to our
stockholders."

While some applications for tax credit certificates are still being
processed by the State of Alaska, and certain remaining
applications cannot be filed until after Jan. 1, 2017, SAE
currently expects to receive an additional $60.5 million of tax
credit certificates from the State of Alaska over the next twelve
months.  While the method, terms and conditions are not certain,
the company remains optimistic that it will be able to ultimately
monetize a significant portion of its tax credit certificates
absent material changes in Alaskan laws and further believes this
process could begin before the end of this year. Any amounts
received for the tax credit certificates will be applied towards
the company's outstanding accounts receivable.  Consistent with the
company's past disclosure practices, however, SAE does not intend
to disclose the monetization of any of its tax credit certificates,
outside of its customary disclosures made in its periodic filings
with the SEC.

Under the terms of SAE's recently completed comprehensive
restructuring, receipt of certificates evidencing Alaskan tax
credits in excess of $25 million was a condition precedent to the
advance of the remaining $15 million available under the Senior
Loan Facility.  Having substantially satisfied this requirement by
receiving $24.4 million, or approximately 98%, of the required
$25.0 million in face value of tax credit certificates, on Oct. 24,
2016, a majority of the lenders under the Senior Loan Facility
entered into Amendment No.1 to the Senior Loan Facility agreement,
which waived the $25 million requirement, thereby granting SAE
access to the remaining $15 million.

            About SAExploration Holdings, Inc.

SAExploration Holdings, Inc., and its subsidiaries are
internationally-focused oilfield services company offering a full
range of vertically-integrated seismic data acquisition and
logistical support services in Alaska, Canada, South America, and
Southeast Asia to its customers in the oil and natural gas
industry.  In addition to the acquisition of 2D, 3D, time-lapse 4D
and multi-component seismic data on land, in transition zones
between land and water, and offshore in depths reaching 3,000
meters, the Company offers a full-suite of logistical support and
in-field data processing services.  The Company operates crews
around the world that are supported by over 29,500 owned land and
marine channels of seismic data acquisition equipment and other
leased equipment as needed to complete particular projects.

SAExploration reported a net loss attributable to the Corporation
of $9.87 million in 2015 following a net loss attributable to the
Corporation of $41.8 million in 2014.

As of June 30, 2016, SAExploration had $207 million in total
assets, $221 million in total liabilities and a total
stockholders' deficit of $13.9 million.

                        *     *     *

In June 2016, S&P Global Ratings lowered its corporate credit
rating on SAExploration Holdings to 'CC' from 'CCC-'.  The outlook
remains negative.  The downgrade follows SAExploration's
announcement that it plans to launch an exchange offer to existing
holders of its 10% senior secured notes for shares of common equity
and a new issue of second-lien notes.

In September 2016, Moody's Investors Service withdrew
SAExploration's 'Caa2' Corporate Family Rating and other ratings.


SAM DANIEL: Case Summary & 15 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Sam Daniel Dason DDS
        A Professional Dental Corporation
           dba Colton Dental Group
           dba Dersert Dental Services
           dba San Bernardino Dental Group
        944 Via Lata
        Colton, CA 92324
        Tel: 213-359-1097

Case No.: 16-19604

Chapter 11 Petition Date: October 28, 2016

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Judge: Hon. Mark D. Houle

Debtor's Counsel: Michael S Kogan, Esq.
                  KOGAN LAW FIRM APC
                  1849 Sawtelle Blvd., Suite 700
                  Los Angeles, CA 90025
                  Tel: 310-954-1690
                  Email: mkogan@koganlawfirm.com

Total Assets: $112,200

Total Liabilities: $4.44 million

The petition was signed by Sam Dason, president.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-19604.pdf


SANDIA DISTRIBUTOR: Hires Price Kong as Accountant
--------------------------------------------------
Sandia Distributor, Inc., seeks authority from the U.S. Bankruptcy
Court for the District of Arizona to employ Price Kong CPA and
Consultants as accountant to the Debtor.

Sandia Distributor requires Price Kong to provide accounting
services to the Debtor in relation to the bankruptcy proceedings.

Price Kong will be paid at the hourly rate of $325.

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

To the best of the Debtor's knowledge 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 and
its estates.

Price Kong can be reached at:

     Anthony M. Kong
     PRICE KONG CPA AND CONSULTANTS
     5300 N Central Ave, Suite 200
     Phoenix, AZ 85012
     Tel: (602) 776-6300

                       About Sandia Distributor

Sandia Distributors, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D. Ariz. Case No. 15-12314) on September 25, 2015,
disclosing under $1 million in both assets and liabilities.  The
Debtor is represented by Eric Ollason, Esq.


SEEGRID CORP: Court Allows Former CEO's Claims
----------------------------------------------
Judge Brendan Linehan Shannon of the United States Bankruptcy Court
for the District of Delaware overruled each of Seegrid
Corporation's objections to Claims 19, 20 and 21 and allowed the
claims in their entirety.

The claims were filed by Seegrid's former CEO, Mr. Anthony Horbal
(or entities controlled by Mr. Horbal) and seek (i) payment for
amounts alleged to be due under Mr. Horbal's employment agreement
and (ii) reimbursement of costs relating to Mr. Horbal's use of
Seegrid's aircraft on company business.

Claim 20 was filed by HERC Management Services, LLC, an entity
created and controlled by Mr. Horbal, seeking allowance of an
unsecured prepetition claim in the aggregate amount of $282,537.66.
The lion's share of Claim 20 consists of a $200,000 fee payable
upon Mr. Horbal's termination without cause and a $50,000
"quarterly fee" alleged to be due under Mr. Horbal's employment
agreement.  The balance of Claim 20 relates to unpaid health
insurance obligations and travel reimbursements.

Seegrid objected to Claim 20 on several grounds.  First, Seegrid
contended that there was no written contract in effect between the
parties at the time of Mr. Horbal's termination.  Seegrid contended
that the Consulting/Management Services Agreement, whereby Mr.
Horbal was engaged to serve as President of Seegrid,  was
effectively terminated when Mr. Horbal shifted in 2012 from
President to Chief Executive Officer.  No new agreement or
amendment to the existing agreement was entered into.

Judge Shannon, however, pointed out that Pennsylvania contract law
recognizes that a contractual arrangement may be modified by
subsequent conduct.  Thus, the judge held that the agreement did
not lapse upon Mr. Horbal's transition from President to CEO, and
that Mr. Horbal is entitled to seek to recovery under the agreement
on account of his termination.

Alternatively, Seegrid contended that Claim 20 should be disallowed
because it believes that Mr. Horbal breached his fiduciary duties
and was terminated "for cause".  The cause identified by Seegrid
relates to two areas: (i) Mr. Horbal's alleged disruptive and
threatening conduct toward other Company Board members; and (ii)
his refusal to allow a representative of Giant Eagle, Seegrid's
largest stakeholder, to review the company's books and records.

Judge Shannon noted that there is no contemporaneous writing -- not
a termination letter, not a board resolution, not even an email --
to support the proposition that Seegrid fired its CEO for cause.
Thus, the judge was deeply skeptical that Seegrid actually fired
Mr. Horbal for cause in July 2014.  Further, while Mr. Horbal did
not really deny Seegrid's allegations, he observed that he is "a
passionate guy" and that he sought to remind the other Board
members of their fiduciary duties and saw it as his duty to press
for alternatives and to warn against the risk that Giant Eagle, the
Company's largest stakeholder, might seize control of Seegrid as a
result of the company's crisis.  Judge Shannon found that, although
Mr. Horbal may have been right or wrong in this, the record does
not support any finding that he breached his fiduciary duty in this
context.

Finally, Seegrid objected to Claim 20 on the ground that Mr. Horbal
failed to disclose a prior felony conviction.  The record reflects
that, in the 1980s, Mr. Horbal operated a retail fur business when
he was in his twenties.  He testified at trial without
contradiction that in 1987, one of his trucks was stopped by a
customs agent at the U.S. – Canada border.  The necessary
paperwork was not in order, and Mr. Horbal was apparently charged
with making a false statement to a federal official.

Mr. Horbal testified in his deposition that he disclosed the
existence of the conviction to Mr. Heilman and to Mr. Shapira when
he joined the Company in 2009.

Judge Shannon found that the record supports that Mr. Horbal timely
disclosed the conviction.  Further, the judge observed that the
decades-old conviction is a relatively minor consideration in the
context of Mr. Horbal's relationship with Seegrid, and that it
appears that attention to this event is little more than a post-hoc
attempt by the company to justify the termination.

Claims 19 and 21 relate to requests for reimbursement of expenses
incurred in connection with Mr. Horbal's travel on two private
aircraft leased by Seegrid.  Mr. Horbal owns or controls Screaming
Eagle, Inc. and Great American Health Plans, Inc., which lease two
aircraft to Seegrid and provide for pilot services for these
aircraft, respectively.  

Screaming Eagle filed Claim 19 in the amount of $274,408.59 on
account of prepetition invoices for flights on the G200.  As a
result of negotiations and discussions between the parties prior to
trial, the amount of Claim 19 that remains unpaid and disputed by
the Seegrid is $241,924.86.

Claim 21 was filed by Great American, which is another entity owned
or controlled by Mr. Horbal.  Great American was engaged by
contract with Seegrid to provide the pilots and related support
services for Seegrid's use of company aircraft.  By Claim 21, Great
American sought $28,800 for pilot services relating to the flights
identified in Claim 19.  

All in, Mr. Horbal (through his corporate entities Screaming Eagle
and Great American) sought the sum of $270,724.86 for Claims 19 and
21 on account of the use of company aircraft.

Seegrid contended that Mr. Horbal used the aircraft -- and
particularly a Gulfstream jet capable of international travel --
without necessary authorization and in violation of a policy
adopted by the company's Board of Directors.  Seegrid's Board of
Directors adopted a "Non-Commercial Aircraft Travel Policy" on
January 31, 2012.  Seegrid contended that the Aircraft Policy was
subsequently modified in late 2012 to impose significant
restrictions upon use of the G200.

Judge Shannon, however, found that there is no document or
resolution that would indicate a revision to or replacement of the
Aircraft Policy approved by the Board in January of 2012.
Construing the Aircraft Policy, the judge concluded that Mr. Horbal
had authority to approve use of the G200.  Based upon the authority
granted Mr. Horbal under the Aircraft Policy and the testimony
reflecting the business purpose of the various flights, Judge
Shannon found that Mr. Horbal has carried his burden regarding
Claims 19 and 21.

A full-text copy of Judge Shannon's October 27, 2016 order is
available at http://bankrupt.com/misc/deb14-12391-447.pdf

Reorganized Debtor is represented by:

          Curtis S. Miller, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNELL LLP
          1201 North Market Street
          Wilmington, DE 19899
          Tel: (302)658-9200
          Fax: (302)658-3989
          Email: cmiller@mnat.com

            -- and --

          Jonathan D. Marcus, Esq.
          Scott Livingston, Esq.
          MARCUS & SHAPIRA LLP
          302 Grant Street, 35th Floor
          One Oxford Centre
          Pittsburgh, PA 15219-6401
          Tel: (412)471-3490
          Fax: (412)391-8758
          Email: jmarcus@marcus-shapira.com
                 livingston@marcus-shapira.com

Anthony Horbal, Screaming Eagle Air, Inc. and Great American Health
Plans, Inc. are represented by:

          Duane D. Werb, Esq.
          WERB & SULLIVAN
          300 Delaware Avenue, 13th Fl.
          Wilmington, DE 19801
          Tel: (302)652-1100
          Fax: (302)652-1111

            -- and --

          William A. Brewer, Esq.
          Michael J. Collins, Esq.
          BREWER, ATTORNEYS AND COUNSELORS
          750 Lexington Avenue, 14th Floor
          New York, NY 10022
          Tel: (212)489-1400
          Fax: (212)751-2849
          Email: wab@brewerattorneys.com
                 mjc@brewerattorneys.com

                   About Seegrid Corporation

Pittsburgh-based Seegrid Corporation is a developer of robotic
vision-guided automated vehicles.  It was founded in 2003 by two
Carnegie Mellon University robotic scientists, Hans Moravec and
Scott Friedman.

Seegrid Corporation filed for Chapter 11 bankruptcy protection
(Bank. D. Del. Case No. 14-12391) on Oct. 21, 2014, estimating its
assets at $1 million to $10 million and its debt at $50 million to
$100 million.  The petition was signed by David Hellman,
president.

U.S. Bankruptcy Judge Brendan L. Shannon in Delaware confirmed on
Jan. 15, 2015, the Company's prepackaged Chapter 11 plan of
reorganization.


SEMLER SCIENTIFIC: Posts $362,000 Net Loss for Sept. 30 Quarter
---------------------------------------------------------------
Semler Scientific, Inc. reported a net loss of $362,000 on $1.98
million of revenue for the three months ended Sept. 30, 2016,
compared to a net loss of $1.58 million on $1.56 million of revenue
for the three months ended Sept. 30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss of $2.33 million on $5.11 million of revenue compared to a
net loss of $4.29 million on $4.06 million of revenue for the same
period last year.

As of Sept. 30, 2016, Semler had $2.96 million in total assets,
$5.76 million in total liabilities and a stockholders' deficit of
$2.80 million.

"We continue to see improvement in our net loss as our clients
continue to migrate to QuantaFlo, our latest cardiovascular
product, and as we control our expenses," said Doug
Murphy-Chutorian, M.D., chief executive officer of Semler.  "These
upgrades along with business from new clients are central features
of our plan to achieve the goals of profitability, positive cash
flow from operations and minimal stockholder dilution," he added.

As of Sept. 30, 2016, compared to Dec. 31, 2015, Semler had
cash of $517,000, an increase of $112,000, compared to $405,000.

                      2016 Highlights to Date

The major accomplishments of 2016 to date are as follows:

   1) Increased the established base of QuantaFlo installations
      with large health insurance company customers

   2) Continued migrating customers to QuantaFlo from its lower-
      priced predecessor product

   3) Contracted with home risk assessment companies to use
      QuantaFlo in their businesses

For the remainder of 2016, revenue from QuantaFlo is expected to
continue to grow due to an increasing number of installations,
higher average pricing and the recurring revenue business model.

Semler now no longer plans to be a primary vendor for WellChec
business in the fourth quarter of 2016, preferring instead to work
as a secondary vendor to support its HRA customers to deliver this
type of service.  WellChec was responsible for both substantial
revenue growth and associated start-up costs in 2015.  Semler's
focus on its QuantaFlo business is intended to use less capital,
have lower financial risk and require less operational expertise,
while potentially being a substantially higher margin business.

"We continue to grow QuantaFlo revenue and to reduce our net
operating loss, and we are nearing profitability," said Dr.
Murphy-Chutorian.  "Our desire is to become the standard of care
for testing to identify patients at risk for heart attacks and
strokes to enable better preventive medical care," he added.

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

                     https://is.gd/Kk4ouz

                    About Semler Scientific

Semler Scientific, Inc., provides diagnostic and testing services
to healthcare insurers and physician groups.  The Portland,
Oregon-based Company develops, manufactures and  markets
proprietary products and services that assist healthcare providers
in evaluating and treating chronic diseases.

Semler Scientific reported a net loss attributable to common
stockholders of $8.50 million on $7 million of total revenue for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $4.51 million on $3.63 million of total
revenue for the year ended Dec. 31, 2014.

BDO USA, LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has negative working
capital, a deficit in stockholders' equity, recurring losses from
operations and expects continuing future losses that raise
substantial doubt about its ability to continue as a going concern.


SHREE SHIVA: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Shree Shiva, LLC
        1250 Pine Street
        Redding, CA 96001

Case No.: 16-27180

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: October 28, 2016

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Hon. Christopher D. Jaime

Debtor's Counsel: Robert S. Gimblin, Esq.
                  Steve Gimblin, Esq.
                  LAW OFFICES OF STEVE GIMBLIN
                  1007 Live Oak Blvd. A-3
                  Yuba City, CA 95991
                  Tel: 530-671-9822
                  Email: sg@yubalaw.com

Estimated Assets: $1 million to $10 million

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

The petition was signed by Bhupendrahsihn Thakor, managing member.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/caeb16-27180.pdf


SIRIUS INTERNATIONAL: Fitch Rates $250MM Pref. Shares 'BB+'
-----------------------------------------------------------
Fitch Ratings has assigned a rating of 'BBB-' to Sirius
International Group, Ltd.'s (Sirius) $400 million issuance of 4.6%
senior notes due Nov. 1, 2026.

                        KEY RATING DRIVERS

This new issue is rated equivalent to Sirius' existing senior
notes.  The company expects to use the net proceeds from the
offering to refinance its $389.7 million of senior notes due
March 20, 2017, with any remaining net proceeds for general
corporate purposes.  Following the refinancing, Sirius' financial
leverage ratio (FLR) should remain modest, near the 15.5% FLR at
June 30, 2016.

                        RATING SENSITIVITIES

The key rating triggers that could result in a downgrade include:

   -- Significant changes to the operating profile or investment
      portfolio that increases risk or reduces liquidity;
   -- Sizable deterioration in capitalization;
   -- FLR maintained above 32%.

The key rating triggers that could lead to an upgrade include:

   -- Seasoning of ownership by China Minsheng Investment Corp.,
      Ltd. (CMIG) without any adverse consequences, or perceived
      weakening in CMIG credit profile;

   -- Improvement in competitive market position while continuing
      to produce favorable operating results in the challenging
      reinsurance environment.

FULL LIST OF RATING ACTIONS

Fitch assigns these ratings:

Sirius International Group, Ltd.
   -- $400 million 4.6% senior notes due Nov. 1, 2026 'BBB-'.

Fitch currently rates these with a Stable Outlook:

Sirius International Group, Ltd.

   -- Issuer Default Rating 'BBB';
   -- $390 million 6.375% senior notes due March 20, 2017 'BBB-';
   -- $250 million non-cumulative perpetual preference shares
      'BB+'.

Sirius International Insurance Corporation
Sirius America Insurance Company
   -- Insurer Financial Strength 'A-'.



SKIN SENSE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Skin Sense, Inc.
           fdba Be Happy, LLC
           dba Skin Sense, A Day Spa
        6801 Falls of Neuse Road, Suite 110
        Raleigh, NC 27615

Case No.: 16-05626

Chapter 11 Petition Date: October 28, 2016

Court: United States Bankruptcy Court
       Eastern District of North Carolina
       (Raleigh Division)

Judge: Hon. Joseph N. Callaway

Debtor's Counsel: Ciara L. Rogers, Esq.
                  THE LAW OFFICES OF OLIVER & CHEEK, PLLC
                  405 Middle Street
                  New Bern, NC 28560
                  Tel: 252 633-1930
                  Fax: 252 633-1950
                  Email: ciara@olivercheek.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Angela D. Padgett, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nceb16-05626.pdf


SMILES AND GIGGLES: US Trustee Fails to Appoint Creditors' Panel
----------------------------------------------------------------
The U.S. Trustee informs the U.S. Bankruptcy Court for the District
of South Carolina that a committee of unsecured creditors has not
been appointed in the Chapter 11 case of Smiles and Giggles Health
Plaza, LLC, due to insufficient response to the U.S. Trustee
communication/contact for service on the committee.

Smiles and Giggles Health Plaza, LLC, filed a Chapter 11 petition
(Bankr. M.D. Fla. Case No. 16-08203) on Sept. 23, 2016.  The Debtor
is represented by David W. Steen, Esq., at David W. Steen, P.A.


SOLID NORTH: US Trustee Fails to Appoint Creditors' Committee
-------------------------------------------------------------
The U.S. Trustee informs the U.S. Bankruptcy Court for the District
of South Carolina that a committee of unsecured creditors has not
been appointed in the Chapter 11 case of Solid North LLC due to
insufficient response to the U.S. Trustee communication/contact for
service on the committee.

Solid North LLC filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 16-08236) on Sept. 23, 2016, estimating its
assets and liabilities at between $500,001 and $1 million each.
James L. Clark, Esq., at James L. Clark, PA, serves as the Debtor's
bankruptcy counsel.


SPI ENERGY: Completes 700 kW Rooftop Solar Project in California
----------------------------------------------------------------
SPI Energy Co., Ltd. announced that it, through its wholly owned
subsidiary, SPI Solar, Inc., has completed a rooftop solar project
totaling 700 kW with AES Distributed Energy, Inc., a developer,
owner, and operator of solar PV projects and a subsidiary of the
AES Corporation.  The project is located in Sacramento, California
at the Golden 1 Center, the world's first LEED Platinum Indoor
arena and the home of the National Basketball Association's
Sacramento Kings.

"The successful development and completion of the Sacramento Kings
project is another strong testament to our reliable and high
quality products," said Xiaofeng Peng, chairman and CEO of SPI
Energy.  "We are delighted to witness the Golden 1 Center become
the first indoor arena in the world to be fully powered by solar
energy.  We are pleased to be working with AES DE on this project,
and we expect the partnership to continue as we develop more solar
projects in the region and throughout the nation."

"We are excited to be a part of this innovative project that
showcases how our nation's sports and entertainment venues can
offer environmentally sustainable solutions," said Woody Rubin,
president of AES Distributed Energy.  "Our team is honored to
partner with the Sacramento Kings and SPI Energy to deliver the
benefits of renewable energy."

                  About SPI Energy Co., Ltd.

SPI Energy Co., Ltd., (As successor in interest to Solar Power,
Inc.), is a global provider of photovoltaic (PV) solutions for
business, residential, government and utility customers and
investors.  SPI Energy focuses on the downstream PV market
including the development, financing, installation, operation and
sale of utility-scale and residential solar power projects in
China, Japan, Europe and North America.  The Company operates an
innovative online energy e-commerce and investment platform,
http://www.solarbao.com/,which enables individual and
institutional investors to purchase innovative PV-based investment
and other products; as well as http://www.solartao.com/, a B2B
e-commerce platform offering a range of PV products for both
upstream and downstream suppliers and customers.  The Company has
its operating headquarters in Shanghai and maintains global
operations in Asia, Europe, North America and Australia.

SPI Energy reported a net loss of $185 million on $191 million of
net sales for the year ended Dec. 31, 2015, compared to a net loss
of $5.19 million on $91.6 million of net sales for the year ended
Dec. 31, 2014.  As of Dec. 31, 2015, SPI Energy had $710 million in
total assets, $493 million in total liabilities and $216.55 million
in total stockholders' equity.

KPMG Huazhen LLP, in Shanghai, China, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that SPI Energy Co., Ltd. and its
subsidiaries have suffered significant losses from operations and
have a negative working capital as of Dec. 31, 2015.  In addition,
the Group has substantial amounts of debts that will become due for
repayment in 2016.  These factors raise substantial doubt about the
Group's ability to continue as a going concern.


STERIGENICS-NORDION HOLDINGS: Moody's Lowers CFR to 'B'
-------------------------------------------------------
Moody's Investors Service announced one-notch downgrades to the
Corporate Family Rating (CFR) and Probability of Default Rating
(PDR) of Sterigenics-Nordion Holdings, LLC ("Sterigenics") to B3
and B3-PD, respectively. Concurrent with the downgrade, Moody's
revised the rating outlook to stable from negative.

Moody's also assigned a Caa2 rating to Sterigenics-Nordion Topco,
LLC's new $350 million holdco PIK toggle notes. Proceeds from this
issuance will be used to complete a $340 million dividend
recapitalization and to pay transaction fees and expenses.

At the same time, Moody's affirmed the B1 ratings on Sterigenics'
senior secured credit facilities and the Caa1 rating on
Sterigenics' existing senior unsecured notes.

Ratings downgraded:

   Sterigenics-Nordion Holdings, LLC

   -- Corporate Family Rating, to B3 from B2

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

   -- The outlook has been revised to stable from negative.

Ratings assigned:

   Sterigenics-Nordion Topco, LLC

   -- Senior unsecured PIK Toggle notes due 2021 at Caa2 (LGD 6)

   -- The outlook is stable.

Ratings affirmed:

   Sterigenics-Nordion Holdings, LLC

   -- Senior secured first lien revolving credit facility expiring

      2020 at B1 (LGD 3)

   -- Senior secured first lien term loan due 2022 at B1 (LGD 3)

   -- Senior secured floating rate notes due 2022 at B1 (LGD 3)

   -- Senior unsecured notes due 2023 at Caa1 (LGD 5)

RATINGS RATIONALE

The B3 Corporate Family Rating (CFR) is constrained by Sterigenics'
very high financial leverage. Pro forma for the dividend
recapitalization and recent acquisitions, Moody's projects adjusted
debt to EBITDA to be approximately 8.0 times. Moody's expects free
cash flow of roughly $40-60 million annually during 2017 and 2018,
enabling Sterigenics to reduce its adjusted leverage towards 7.0
times over that time horizon. The rating is further constrained by
the company's modest scale and business risks related to
vulnerability to supply chain disruptions. Sterigenics is also
exposed to environmental risks associated with the highly sensitive
nature of the company's handling of hazardous raw materials in its
manufacturing process, including radioactive isotopes and toxic
gases.

The B3 rating is supported by Sterigenics' leading position in the
contract sterilization outsourcing market, as well as high barriers
to entry and customer switching costs, which lead to relatively
stable market share. The rating is further supported by
Sterigenics' primary customers, namely medical device and food
manufacturers, and the paramount importance of their products'
safety. These customers also tend to be less sensitive to economic
cycles than companies that produce more discretionary goods.
Moody's expects that around two-thirds of the company's EBITDA will
be generated by the contract sterilization business, which is
likely to remain stable as long as it is not disrupted by raw
material sourcing issues.

The stable rating outlook reflects Moody's expectation that the
company will, through a combination of EBITDA growth and to a
lesser extent debt reduction, begin to lower its very high
leverage.

Moody's could upgrade the ratings if credit metrics improve and
financial leverage is lowered such that adjusted debt to EBITDA is
sustained below 6.0 times. The company would also need to
demonstrate a commitment to more conservative financial policies
and successfully manage the transition of its Moly-99 nuclear
reactor source.

Moody's could downgrade the ratings if the company's capital
structure appears untenable, if liquidity materially deteriorates
or if a material adverse event results in legal liabilities or a
business distribution.

The principal methodology used in these ratings was the Business
and Consumer Service Industry published in October 2016.

Sterigenics-Nordion Holdings, LLC, the parent company of STHI
Holdings, Inc., (collectively, "Sterigenics"), headquartered in Oak
Brook, IL, is a vertically integrated provider of contract
sterilization services, gamma technologies and medical isotopes.
The company operates across four businesses: 1) sterilization
services (57% of revenues) -- provider of contract sterilization
mainly for the medical device industry; 2) gamma technologies (16%
of revenues) -- supplier of Cobalt-60 to other companies for
contract sterilization; 3) medical isotopes (16% of revenues) --
supplier of medical isotopes for healthcare procedures; and 4) lab
services (11% of revenues) -- provider of microbiology testing
services. Sterigenics operates 49 facilities across 13 countries
and serves over 2,500 customers worldwide. The company generated
total LTM revenue of $594 million through June 30, 2016.
Sterigenics is majority-owned by private equity firm, Warburg
Pincus with a minority interest held by GTCR.




STERIGENICS-NORDION HOLDINGS: S&P Affirms 'B' CCR; Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
Sterigenics-Nordion Holdings LLC.  The outlook is stable.

S&P also affirmed its 'B' rating on the senior secured debt.  The
recovery rating on this debt remains '3', indicating S&P's
expectations for meaningful (lower half of the 50%-70% range)
recovery in the event of a default.  S&P affirmed its 'CCC+' rating
on the senior unsecured debt.  The recovery rating on this debt
remains '6', indicating expectations for negligible recovery
(0%-10%).

At the same time, S&P assigned a 'CCC+' issue-level rating and '6'
recovery rating to the new $350 million PIK toggle notes issued by
parent holding company Sterigenics-Nordion Topco LLC.

"Our affirmation reflects our expectation for continued revenue and
EBITDA growth following the company's recapitalization with Warburg
Pincus and GTCR in May 2015," said S&P Global Ratings credit
analyst Adam Dibe.  Although the debt-funded dividend will increase
adjusted leverage moderately to 8.5x in 2016 from S&P's previous
expectation of 7.4x, it believes that Sterigenics will continue to
generate enough cash flow to support its plans for capital
expansion and tuck-in acquisitions.

Sterigenics is the world's largest provider of contract
sterilization services, with a global market share in excess of
35%.  Its customers primarily operate in the medical device and
food industries.  Although the company has a leading position in
its specific addressable market, it remains focused on a relatively
narrow business niche. In addition, while favorably comparing in
scale to its immediate contract sterilization competitors,
Sterigenics remains a relatively small player in the broad
outsourced contract services space.

Although S&P expects leverage will remain over 7x over the next
couple of years, our outlook on Sterigenics-Nordion Holdings LLC
remains stable based on S&P's view that medical device
manufacturers will continue to outsource noncore activities such as
sterilization services.  This contributes to S&P's expectation that
Sterigenics' revenue growth will remain steady and EBITDA will
grow.

S&P could lower the rating if Sterigenics' operating performance
deteriorates to the point where its cash flow turns negative and
its interest coverage ratio dips below 1.5x.  Such credit measure
deterioration would likely result from a revenue shortfall coupled
with an EBITDA margin contraction of at least 500 basis points.
This could occur if raw material supply problems or unfavorable
shifts in demand for Sterigenics' products result in a steep
earnings decline.  Alternatively, a decline in the company's
capacity utilization, possibly from unforeseen operating problems
that reduce revenues, could cause substantial erosion of profit
margins and free operating cash outflows.

While unlikely over the next 12 months, S&P could raise its rating
on Sterigenics if the company's leverage ratio falls below 5x and
its FFO to debt ratio exceeds 12%.  Equally important, S&P will
have to be convinced that the company's financial policy is
consistent with maintaining its credit measures within the improved
range.  Given Sterigenics' high leverage and private sponsor
ownership, S&P considers this highly unlikely over the next year.



STONE ENERGY: Geosphere Capital Holds 8.96% Stake as of Oct. 21
---------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Geosphere Capital Management, LLC disclosed that as of
Oct. 21, 2016, it beneficially owns 500,000 shares of common equity
of Stone Energy Corp which represents 8.96 percent of the shares
outstanding.  A full-text copy of the regulatory filing is
available for free at https://is.gd/GbtjAM

                    About Stone Energy

Stone Energy is an independent oil and natural gas exploration and
production company headquartered in Lafayette, Louisiana with
additional offices in New Orleans, Houston and Morgantown, West
Virginia.  Stone is engaged in the acquisition, exploration,
development and production of properties in the Gulf of Mexico and
Appalachian basins.  For additional information, contact Kenneth
H. Beer, Chief Financial Officer, at 337-521-2210 phone,
337-521-9880 fax or via e-mail at CFO@StoneEnergy.com

                        *     *     *

As reported by the TCR on Oct. 27, 2016, S&P Global Ratings lowered
its corporate credit rating on oil and gas exploration and
production company Stone Energy Corp. to 'CC' from 'CCC-'.  The
outlook is negative.  The 'CC' ratings reflect Stone's announcement
that it has entered into a restructuring support agreement with
certain holders of its unsecured notes.  The company expects to
file for voluntary relief under Chapter 11 on or before Dec. 9
2016.


STRATA SKIN: Has Until April 2017 to Regain NASDAQ Compliance
-------------------------------------------------------------
Strata Skin Sciences, Inc., received written notification from The
NASDAQ Stock Market on April 27, 2016, that the closing bid price
of its common stock had been below the minimum $1.00 per share for
the previous 30 consecutive business days, and that the Company is
therefore not in compliance with the requirements for continued
listing on the NASDAQ Capital Market under NASDAQ Listing Rule
5550(a)(2).  The Notice provided the Company with an initial period
of 180 calendar days, or until Oct. 24, 2016, to regain compliance
with the listing rules.  The Company did not regain compliance
during the cure period.

On Oct. 25, 2016 the Company was notified by NASDAQ that NASDAQ had
granted the Company an extension of the deadline to April 24, 2017,
to demonstrate compliance with NASDAQ's continued listing
requirements.

                   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 $27.9 million on $18.5 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.  It reported a net
loss of $25.948 million for 2013 and a net loss of $22.673 million
for 2012.

As of June 30, 2016, Strata Skin had $44.4 million in total assets,
$27.1 million in total liabilities and $17.3 million in total
stockholders' equity.


STRATA SKIN: Stockholders Elect 7 Directors, Approve Bonus Plan
---------------------------------------------------------------
Strata Skin Sciences, Inc., held its 2016 annual meeting of
stockholders on Oct. 27, 2016, at which the stockholders:

  (a) elected Jeffrey F. O'Donnell, Sr., Michael R. Stewart,
      Samuel Navarro, David K. Stone, Kathryn Swintek, LuAnn Via
      and Rox R. Anderson as directors;

  (b) approved the STRATA Skin Sciences, Inc. 2016 Omnibus
      Incentive Plan; and

  (c) ratified the selection of EisnerAmper LLP as the Company's
      independent registered public accounting firm for the fiscal

      year ending Dec. 31, 2016.

                    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 $27.9 million on $18.5 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.  It reported a net
loss of $25.948 million for 2013 and a net loss of $22.673 million
for 2012.

As of June 30, 2016, Strata Skin had $44.4 million in total assets,
$27.1 million in total liabilities and $17.3 million in total
stockholders' equity.


SUNEDISON INC: To Auction Off Assets on November 15
---------------------------------------------------
Sunedison Inc. and its debtor-affiliates will conduct an auction on
Nov. 15, 2016, at 10:00 a.m. (prevailing Eastern Time) at the
Offices of Skadden, Arps, Slate, Meagher & Flom, 4 Time Square, New
York, New York, to determine the highest of otherwise best
qualified bid.

All offers for the Debtors' assets must be filed no later than 4:00
p.m. (prevailing Eastern Time) on Nov. 11, 2016.  A hearing to
approve the sale of the auction is set for Nov. 17, 2016, at 10:00
a.m. (prevailing Eastern Time) before the Hon. Stuart M. Bernstein
of the U.S. Bankruptcy Court for the Southern District of New
York.

Objections to the sale, if any, must be filed on or before 10:00
a.m. (prevailing Eastern Time) on Nov. 10, 2016.

BayWa r.e. Wind LLC was selected as stalking-horse bidder for the
Debtors' assets pursuant to the asset purchase agreement dated Oct.
8, 2016.

                   About SunEdison, Inc.

SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of
photovoltaic energy solutions, an owner and operator of clean power
generation assets, and a global leader in the development,
manufacture and sale of silicon wafers to the semiconductor
industry.

On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos.
16-10991 to 16-11017).  Martin H. Truong, the senior vice
president, general counsel and secretary, signed the petitions.

The Debtors disclosed total assets of $20.7 billion and total debt
of $16.1 billion as of Sept. 30, 2015.

The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as
counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild
Inc. as investment banker and financial advisor, McKinsey Recovery
& Transformation Services U.S., LLC, as restructuring advisors and
Prime Clerk LLC as claims and noticing agent.  The Debtors employed
PricewaterhouseCoopers LLP as financial advisors; and  KPMG LLP as
their auditor and tax consultant.

SunEdison also has tapped Eversheds LLP as its special counsel for
Great Britain and the Middle East.  Cohen & Gresser LLP has also
been retained as special counsel.

The Debtors retained Ernst &Young LLP to provide tax-related
services.  Keen-Summit Capital Partners LLC has been hired as real
estate advisor.  Binswanger of Texas, Inc., also has been retained
as real estate agent.

Sullivan & Cromwell LLP serves as counsel to TerraForm Power, Inc.,
and TerraForm Global, Inc.

An official committee of unsecured creditors has been appointed in
the case.  The Committee tapped Weil, Gotshal & Manges LLP as its
general bankruptcy counsel and Morrison & Foerster LLP as special
counsel.  Togut, Segal & Segal LLP and Kobre & Kim LLP serve as
conflicts counsel.  Alvarez & Marsal North America, LLC, serves as
the Committee's financial advisors.

Counsel to the administrative agent under the Debtors' prepetition
first lien credit agreement are Richard Levy, Esq., and Brad
Kotler, Esq., at Latham & Watkins.

Counsel to the administrative agent under the postpetition DIP
financing facility are Scott Greissman, Esq., and Elizabeth Feld,
Esq. at White & Case LLP.

Counsel to the Tranche B Lenders (as defined in the DIP credit
agreement) and the steering committee of the second lien creditors
are Arik Preis, Esq., and Naomi Moss, Esq., at Akin Gump Strauss
Hauer & Field, LLP.

Counsel to the administrative agent under the Debtors' prepetition
second lien credit agreement is Daniel S. Brown, Esq., at Pillsbury
Winthrop Shaw Pittman LLP.

The collateral trustee under the Debtors' prepetition second lien
credit agreement and the indenture trustee under each of the
Debtors' outstanding bond issuances, is represented by Marie C.
Pollio, Esq., at Shipman & Goodwin LLP.

Counsel to the ad hoc group of certain holders of the Debtors'
convertible senior notes is White & Case LLP's Tom Lauria, Esq.


TECK RESOURCES: Moody's Hikes Corporate Family Rating to B1
-----------------------------------------------------------
Moody's Investors Service upgraded Teck Resources Limited's
Corporate Family (CFR) rating to B1 from B3, Probability of Default
Rating to B1-PD from B3-PD; guaranteed senior unsecured note
ratings to Ba3 from B1 and senior unsecured notes (not guaranteed)
rating to B3 from Caa1. Teck's Speculative Grade Liquidity Rating
was affirmed at SGL-2. The rating outlook is stable.

"Teck's ratings upgrade is driven by the meaningful debt reduction
that it announced today, lowered leverage, and robust liquidity
with no near term maturities", said Jamie Koutsoukis, Moody's Vice
President, Senior Analyst.

Upgrades:

   Issuer: Teck Resources Limited

   -- Probability of Default Rating, Upgraded to B1-PD from B3-PD

   -- Corporate Family Rating, Upgraded to B1 from B3

   -- Guaranteed Senior Unsecured Regular Bond/Debenture, Upgraded

      to Ba3(LGD3) from B1(LGD2)

   -- Senior Unsecured Regular Bond/Debenture, Upgraded to
      B3(LGD5) from Caa1(LGD5)

   -- Senior Unsecured Shelf, Upgraded to (P)B3 from (P)Caa1

Outlook Actions:

   Issuer: Teck Resources Limited

   -- Outlook, Changed To Stable From Negative

Affirmations:

   Issuer: Teck Resources Limited

   -- Speculative Grade Liquidity Rating, Affirmed SGL-2

RATINGS RATIONALE

Teck's B1 corporate family rating reflects its exposure to volatile
commodity prices (metallurgical coal, copper and zinc), which can
cause large swings in leverage and cash flow, continued sizable
capital expenditure requirements, and production and development
risks. Providing an offset are the diversity and scale of its
business, low geopolitical risks, and a good average cost
position.

With metallurgical coal prices surging over the last two months,
Teck has used its free cash flow to repurchase US$759 million of
notes in September and early October, reducing debt by over 10%.
“Additionally, with a fourth quarter metallurgical coal benchmark
price of US$200 per tonne, we expect that improved earnings,
coupled with its debt reduction will result in leverage falling to
about 3x at year end 2016, compared to 5.6x for the twelve trailing
months as of June 2016.” Moody's said. Leverage however could
move back towards 5x in 2017, should metallurgical coal revert back
towards Moody's expected range of $90 to $120/tonne in 2017, and
using our base case prices of US$2.25/pound for copper and
US$0.85/pound for zinc. Teck has also removed near term liquidity
risks with its June bond offering of US$1.25 billion of senior
unsecured notes, which refinanced the majority of its 2017, 2018
and 2019 maturities, and the extension of $1.0 billion of its
existing $1.2 billion revolving credit facility from June 2017 to
June 2019.

Teck's liquidity is good (SGL-2) which provides the company
flexibility to maneuver through its high capital spend period and
swings in the commodity price environment. Cash of C$1.1 billion as
of Sept 30 (C$690 million at October 26, 2016) and US$3.2 billion
of unused revolvers are ample to fund Moody's estimate of about
C$250 million in negative free cash flow in 2017 using our pricing
assumptions. The company has no material debt maturities through
2019 following its bond offering and tender offer. Teck's credit
facilities consist of its US$1.2 billion facility where US$200
million martures in June 2017, and the remainder matures in June
2019 (US$975 million drawn for letters of credit), and US$3 billion
which matures in 2020 (undrawn). Moody's expects that Teck will
maintain ample cushion to its maximum 50% Debt/Capitalization debt
covenant (34% at September 30, 2016).

The stable outlook reflects that with no major maturities until
2019 (when its $1 billion revolving credit facility matures), and
its robust liquidity position, Teck is positioned to fund its
sizeable capital spending program, and maintain leverage under 5x.

Teck's rating could be downgraded to B2 if adjusted Debt/EBITDA is
likely to be sustained above 5x and (CFO-Dividend)/Debt will likely
be sustained at less than 10% (respectively 5.6x and 11.9% as of
Q2/16). Greater than expected cash consumption or a weakening of
existing robust liquidity could also cause Teck's rating to be
downgraded.

An upgrade to Ba3 would be considered if adjusted Debt/EBITDA is
likely to be sustained near 3.5x and (CFO-Dividend)/Debt will
likely be sustained above 20%, coupled with the expectation that
the improvement in commodity prices is sustainable and the company
maintains robust liquidity.

Headquartered in Vancouver, British Columbia, Canada, Teck
Resources is a diversified mining company with assets in Canada,
the U.S., Peru and Chile. The company is a leading producer of
metallurgical coal, operates one of the world's largest zinc mines
(Red Dog in Alaska) and also produces a meaningful amount of
copper. Revenues for 2015 were C$8.3 billion.

The principal methodology used in these ratings was Global Mining
Industry published in August 2014.



TELKONET INC: Inks 2nd Amendment to Heritage Bank Credit Agreement
------------------------------------------------------------------
Telkonet, Inc. and its wholly owned subsidiary, EthoStream LLC, as
co-borrowers, entered into a Second Amendment to the Loan and
Security Agreement with Heritage Bank of Commerce, a California
state chartered bank, effective as of Oct. 27, 2016.  

The Company and the Bank are parties to a Loan and Security
Agreement dated as of Sept. 30, 2014.

The Amendment requires that any wire transfer of funds, check or
other item of payment received by the Bank will be immediately
applied to conditionally reduce obligations.  The Amendment also
redefines the 2016 EBITDA levels required to be achieved by the
Company each remaining fiscal quarter.  All other terms of the Loan
Agreement remain in full force and effect.

A full-text copy of the Second Amendment to Loan and Security
Agreement entered into as of Oct. 27, 2016, among Telkonet, Inc.,
EthoStream LLC and Heritage Bank of Commerce, is available for free
at https://is.gd/XupoJB

                         About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

Telkonet reported a net loss attributable to common stockholders of
$207,357 on $15.08 million of total net revenues for the year ended
Dec. 31, 2015, compared with a net loss attributable to common
stockholders of $95,403 on $14.79 million of total net revenues for
the year ended Dec. 31, 2014.

As of June 30, 2016, Telkonet had $11.59 million in total assets,
$5.57 million in total liabilities and $6.02 million in total
stockholders' equity.

In its Annual Report on Form 10-K for the fiscal year ended
December 31, 2015, the Company reported a net loss of $189,104 for
the year ended December 31, 2015, had cash used in operating
activities of $401,920, had an accumulated deficit of $122,095,121
and total current liabilities in excess of current assets of
$33,312 as of December 31, 2015.  Since inception, the Company's
primary sources of ongoing liquidity for operations have come
through private and public offerings of equity securities, and the
issuance of various debt instruments and asset-based lending.

For the years ended December 31, 2014, the report by BDO USA, LLP,
the Company's independent registered public accounting firm, on the
consolidated financial statements included an explanatory paragraph
relating to the Company's ability to continue as a going concern,
which was based on the Company's history of losses from operations,
cash used to support operating activities, and the uncertainty
regarding contingent liabilities cast doubt on the Company's
ability to satisfy such liabilities.

The Company said the Series A preferred stock became redeemable at
the option of the preferred stock holders on November 19, 2014 and
for a period of 180 days thereafter, provided that at least 50% of
the holders provide written notice to the Company requesting
redemption. As of December 31, 2015, no redemption of the preferred
stock occurred and any future redemption of the Series A or B
preferred stock would be entirely at the option of the Company.

Furthermore, on February 17, 2016, an amendment to the revolving
credit facility with Heritage Bank of Commerce was executed
extending the maturity date of the revolving credit facility to
September 30, 2018, unless earlier accelerated under the terms of
the Loan and Security Agreement.  The Loan Agreement is available
for working capital and other lawful general corporate purposes.
The outstanding principal balance of the revolving credit facility
bears interest at the Prime Rate plus 3.00%. The outstanding
balance was $901,771 as of December 31, 2015 and the remaining
available borrowing capacity was approximately $532,700. As of
December 31, 2015, the Company was in compliance with all financial
covenants.

The Company said its liquidity plan includes reviewing options for
raising additional capital including, but not limited to,
asset-based or equity financing, private placements, and/or
disposition of assets.  Management believes that with additional
financing, the Company will be able to fund required working
capital, research and development and marketing expenses attendant
to promoting revenue growth. However, any equity financing may be
dilutive to stockholders and any additional debt financing would
increase expenses and may involve restrictive covenants.   

"While we have been successful in securing financing through
September 30, 2018 to provide adequate funding for working capital
purposes, there is no assurance that obtaining additional or
replacement financing, if needed, will sufficiently fund future
operations, repay existing debt or implement the Company's growth
strategy. The Company's failure to execute on this strategy may
have a material adverse effect on its business, results of
operations and financial position," the Company said.


TEMPLAR ENERGY: S&P Withdraws 'SD' Corporate Credit Rating
----------------------------------------------------------
S&P Global Ratings withdrew its 'SD' (selective default) corporate
credit rating on Templar Energy LLC. The rating was withdrawn at
the issuer's request.



TRANS ENERGY: Files Amendment No.1 to Tender Offer Statement
------------------------------------------------------------
An amended Tender Offer Statement on Schedule TO was filed with the
Securities and Exchange Commission relating to the offer of WV
Merger Sub, Inc., a Nevada corporation (the "Purchaser") and a
wholly-owned subsidiary of EQT Corporation, a Pennsylvania
corporation, to purchase all outstanding shares of common stock,
par value $0.001 per share, of Trans Energy, Inc., a Nevada
corporation, at a price of $3.58 per Share, net to the seller in
cash, without interest, less any required withholding tax, upon the
terms and subject to the conditions set forth in the Offer to
Purchase, dated Oct. 27, 2016, and in the related Letter of
Transmittal.

The Schedule TO was amended and supplemented by adding the
following exhibit: Excerpt of Transcript of Earnings Conference
Call by EQT, held Oct. 27, 2016, a copy of which is available for
free at https://is.gd/KDkbXM

                       About Trans Energy

St. Mary's, West Virginia-based Trans Energy, Inc. (OTC BB: TENG)
-- http://www.transenergyinc.com/-- is an independent energy
company engaged in the acquisition, exploration, development,
exploitation and production of oil and natural gas.  Its
operations are presently focused in the State of West Virginia.

Trans Energy reported a net loss of $19.6 million on $12.4 million
of total operating revenues for the year ended Dec. 31, 2015,
compared to a net loss of $12.5 million on $27.2 million of total
operating revenues for the year ended Dec. 31, 2014.

As of June 30, 2016, Trans Energy had $79.3 million in total
assets, $143.4 million in total liabilities and a total
stockholders' deficit of $64.1 million.

Maloney + Novotny LLC, in Cleveland, Ohio, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has generated
significant losses from operations and has a working capital
deficit of $116,998,273 at Dec. 31, 2015, which together raises
substantial doubt about the Company's ability to continue as a
going concern.


TRANS ENERGY: To Increase Size of Board of Directors
----------------------------------------------------
Trans Energy, Inc. entered into an Agreement and Plan of Merger
with EQT Corporation, a Pennsylvania corporation ("Parent"), and WV
Merger Sub, Inc., a Nevada corporation and a wholly owned
subsidiary of Parent ("Purchaser") on Oct. 24, 2016.

Pursuant to the terms of the Merger Agreement, the Company agreed
to amend its By-Laws to: (a) to increase the size of the Board as
necessary to provide Parent with the level of representation on the
Board proportionate to the number of shares beneficially owned by
Parent and/or Purchaser following the Acceptance Time (as defined
in the Merger Agreement); and (b) render the restrictions set forth
in NRS 78.378 through 78.3793, inclusive, inapplicable to the
Merger.

Consequently, on Oct. 24, 2016, the Board of Directors of the
Company amended Section 4.4 of the Company By-Laws to be and read
in its entirety as follows:

   "Section 4.4 Number.  The total number of Directors of the
    corporation shall be determined, from time to time, by
    resolution of the Board of Directors."

In addition, the Board of Directors of the Company added a new
Section 11.6 to the Company By-Laws to be and read in its entirety
as follows:

  " Section 11.6 Inapplicability of Controlling Interest Statutes.

    Notwithstanding any other provision in the Articles of
    Incorporation or these By-Laws to the contrary, and in
    accordance with the provisions of NRS 78.378, the provisions
    of NRS 78.378 to 78.3793, inclusive, or any successor
    statutes, relating to acquisitions of controlling interests in

    the Corporation, shall not apply to the Corporation or to any
    acquisition of any shares of the Corporation's capital stock,
    including, but not limited to the acquisition of controlling
    interests through the Merger and the Transactions (each as
    defined in the Agreement and Plan of Merger dated October 24,
    2016, between the Corporation, EQT Corporation and WV Merger
    Sub, Inc.)"

                        About Trans Energy

St. Mary's, West Virginia-based Trans Energy, Inc. (OTC BB: TENG)
-- http://www.transenergyinc.com/-- is an independent energy
company engaged in the acquisition, exploration, development,
exploitation and production of oil and natural gas.  Its
operations are presently focused in the State of West Virginia.

Trans Energy reported a net loss of $19.6 million on $12.4 million
of total operating revenues for the year ended Dec. 31, 2015,
compared to a net loss of $12.5 million on $27.2 million of total
operating revenues for the year ended Dec. 31, 2014.

As of June 30, 2016, Trans Energy had $79.3 million in total
assets, $143.4 million in total liabilities and a total
stockholders' deficit of $64.1 million.

Maloney + Novotny LLC, in Cleveland, Ohio, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has generated
significant losses from operations and has a working capital
deficit of $116,998,273 at Dec. 31, 2015, which together raises
substantial doubt about the Company's ability to continue as a
going concern.


TRINITY 83: Unsecureds To Recoup 100% in 5 Years
-------------------------------------------------
Trinity 83 Development, LLC, filed with the U.S. Bankruptcy Court
for the Northern District of Illinois a disclosure statement
referring to the Debtor's plan of reorganization dated Oct. 25,
2016.

Under the Plan, Class II General Unsecured Claims will be paid 100%
of their allowed amounts in quarterly payments over a period of 5
years from the effective date of the Plan.  The claims are
estimated to total $50,000.  Class II is impaired.

The reorganized Trinity 83 will continue to receive rental income
from the  current and future tenants at 19100 S. Crescent, Mokena,
Illinois.  Trinity 83 believes that the current tenants will
continue to occupy the property for years to come.  Trinity 83 will
receive income for years 2016 through 2021 in amounts sufficient to
pay all claims.   Further, with the strength of the current tenants
and Trinity 83's long track record of occupancy, Trinity 83 will
find no difficulty in obtaining new mortgage financing to satisfy
the payments due at the end of year seven.

The Disclosure Statement is available at:

           http://bankrupt.com/misc/ilnb16-24652-56.pdf

The Plan was filed by the Debtor's counsel:

     Gina B. Krol, Esq.
     105 W. Madison Street, Suite 1100 One
     Chicago, IL 60602
     Tel: (312) 368-0300

             About Trinity 83 Development LLC

Trinity 83, Development, LLC, was formed in 2005.  It is a Limited
Liability  Company formed under the laws of the State of Illinois.
Its members are, and always have been, Donald J. Santacaterina,
Thomas Connelly and George Yukich.  In 2006 Trinity 83 constructed
a Class A, 12,500 square foot, masonry retail/office building at
19100 S. Crescent Dr, Mokena Illinois.   The building was
constructed as a "build to suit" for two tenants, namely Kids Can
Do, Inc, and Hair and Beauty Salon Suites of Mokena, Inc.  Both
tenants have occupied the building since 2006/07 and continue to do
so.  At least some of the ownership of the tenants are related to
some of the members of Trinity 83.

Trinity 83 filed a Chapter 11 petition (Bankr. N.S. Ill. Case No.
16-24652) on Aug. 1, 2016.  The petition was signed by Donald L.
Santacarina, member. The Debtor is represented by Gina B. Krol,
Esq., at Cohen & Krol. The case is assigned to Judge Deborah L.
Thorne.  The Debtor disclosed total assets at $2.41 million and
total debts at $2.13 million at the time of the filing.

No official committee of unsecured creditors has been appointed in
the case.


UCI INTERNATIONAL: Plan Confirmation Hearing Set for December 6
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will hold a
hearing on Dec. 6, 2016, at 2:00 p.m. (Prevailing Eastern Time) to
consider confirmation of the joint Chapter 11 plan of
reorganization proposed by UCI International LLC et al., Ad Hoc
Committee of Senior Noteholders and the Official Committee of
Unsecured Creditors.  Objections to the joint plan, if any, are due
no later than 5:00 p.m. (Prevailing Eastern Time) on Nov. 28,
2016.

Deadline to vote to accept or reject the joint plan must be filed
no later than 4:00 p.m. (Prevailing Eastern Time) on Nov. 28,
2016.

As reported by the Troubled Company Reporter on Oct. 7, 2016, the
Plan is supported by the Official Committee of Unsecured Creditors
and the Ad Hoc Committee of Senior Noteholders.  

The Company has an agreement with Senior Unsecured Noteholders
comprised of funds and accounts under the management of Blackrock
Financial Management, Inc., Credit Suisse Asset Management, LLC,
and J.P. Morgan Investment Management, Inc. to backstop $30 million
of incremental exit financing.  Collectively, these parties hold
more than 80% in principal amount of the Senior Unsecured Notes
outstanding and will become the controlling equity holders of the
reorganized Company under the Plan.

The Plan, consistent with a stipulation filed on September 29
between the Company, the Official Committee of Unsecured Creditors,
and the lenders and agent under the Company's prepetition ABL
credit facility, provides for the payment in full of claims under
the prepetition ABL credit facility.

"We are pleased with the progress made to date in our bankruptcy
filing," said Keith Zar, UCI's general counsel.  "The filing of the
Plan moves UCI one step closer to a successful restructuring and
positions UCI for long-term success by reducing outstanding debt
and strengthening our balance sheet.  UCI continues to have a
strong position in the marketplace and is well positioned to take
advantage of future opportunities."

A copy of the latest disclosure statement is available for free at
https://is.gd/RUi40r

                      About UCI International

UCI International, LLC, headquartered in Lake Forest, IL, designs,
manufactures, and distributes vehicle replacement parts, including
a broad range of filtration, fuel delivery systems, and cooling
systems products in the automotive, trucking, marine, mining,
construction, agricultural, and industrial vehicles markets.

UCI and its affiliates sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 16-11355) on June 1, 2016.  The Debtors are
represented by lawyers at Sidley Austin LLP.  Alvarez & Marsal
provides the company with financial advice and Moelis & Company LLC
is the Debtors' investment banker.  Garden City Group serves as the
Debtors' Claims Agent.  Wilmington Trust is the Indenture Trustee
for a $400-million issue of 8.625% Senior Notes Due 2019.

The United States Trustee appointed an Official Committee of
Unsecured Creditors, which has retained Morrison & Foerster LLP as
proposed counsel, and Cole Schotz PC as Delaware co-counsel.  Zolfo
Cooper LLC has been retained as bankruptcy consultant and financial
advisor for the Committee.


UNI-PIXEL INC: Closes $2.5MM Credit Facility With Bridge Bank
-------------------------------------------------------------
UniPixel, Inc. announced the closing of a $2.5 million accounts
receivables credit facility with Bridge Bank.

Christine Russell, chief financial officer of UniPixel, commented,
"Executing this line of credit with Bridge Bank provides a valuable
working capital management tool for UniPixel as we look to grow our
business and increase production.  We are particularly pleased that
the line allows for financing of a large portion of our accounts
receivable, including foreign accounts.  We are pleased to partner
with Bridge Bank and we look forward to working with their team as
a trusted partner in the years to come."

"UniPixel has the right technology at the right time for the touch
screen and flexible electronics markets.  With all of the
innovation going on in the mobile and handheld space, UniPixel is a
company to watch.  We are thrilled to be working with the UniPixel
team and supporting their working capital needs as the Company's
business grows," said Kelly Cook, senior vice president, Bridge
Bank Technology Banking.

To this date, UniPixel has been awarded a total of 28 programs from
leading computer manufacturers to provide highly responsive
touchscreen sensors and hardcoat glass replacement material to
support touch and/or stylus writing capabilities in tablets,
notebooks and 2-in-1 laptops.

A full-text copy of the Loan and Security Agreement is available
for free at https://is.gd/cJl4jl

The Bank lender may be reached at:

     Bridge Bank, a division of Western Alliance Bank
     55 Almaden Blvd.
     San Jose, CA 95113
     Attn: Note Department
     FAX: (408) 282-1681
     EMAIL: notedepartment@bridgebank.com

                       About Bridge Bank

Bridge Bank is a division of Western Alliance Bank, Member FDIC,
the go-to bank for business in its growing markets.  Bridge Bank
was founded in 2001 in Silicon Valley to offer a better way to bank
for small-market and middle-market businesses across many
industries, as well as emerging technology companies and the
private equity community.  Geared to serving both venture-backed
and non-venture-backed companies, Bridge Bank offers a broad scope
of financial solutions including growth capital, equipment and
working capital credit facilities, sustainable energy project
finance, venture debt, treasury management, asset-based lending,
SBA and commercial real estate loans, ESOP finance and a full line
of international products and services.  Based in San Jose, Bridge
Bank has eight offices in major markets across the country along
with Western Alliance Bank's robust national platform of
specialized financial services.  Western Alliance Bank is the
primary subsidiary of Phoenix-based Western Alliance
Bancorporation.  With $17 billion in assets, Western Alliance
Bancorporation (NYSE:WAL) is one of the fastest-growing bank
holding companies in the U.S. and recognized as #10 on the Forbes
2016 "Best Banks in America" list.  For more information, visit
www.bridgebank.com.

                     About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company        

delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

Uni-Pixel reported a net loss of $37.02 million on $3.75 million of
revenue for the year ended Dec. 31, 2015, compared to a net loss of
$25.7 million on $0 of revenue for the year ended Dec. 31, 2014.
The Company also was in the red since 2010, reporting a net loss of
$3.8 million that year, $8.5 million in 2011, $9.0 million in 2012
and $15.2 million in 2013.

As of June 30, 2016, Uni-Pixel had $22.52 million in total assets,
$4.64 million in total liabilities and $17.88 million in total
shareholders' equity.


UNITED CONTINENTAL: Fitch Hikes Issuer Default Rating to 'BB'
-------------------------------------------------------------
Fitch Ratings has upgraded the Issuer Default Rating (IDR) for
United Continental Holdings, Inc. (UAL) and its airline operating
subsidiary, United Airlines, Inc. to 'BB' from 'BB-'. The Rating
Outlook is Stable. Fitch has also upgraded the ratings for the
subordinated tranches of several United EETCs.

The upgrade is supported by significant improvements in United's
credit metrics in recent years, Fitch's expectations for the
company to generate a meaningful amount of FCF over the
intermediate term, continued focus on cost control, and general
improvements in the risk profile of the U.S. airline industry.
Fitch also believes that United's credit profile benefits from the
new management team's renewed focus on operational reliability and
employee relations, which should have a positive impact on the
company's perception with its customer base.

The on-going move away from 50-seat regional jet flying, the
introduction of basic economy, and United's new Polaris business
class product also have the potential to support operating margins
over the intermediate term. United also continues to benefit from
relatively low jet fuel prices. Fitch expects that United's total
fuel bill will be roughly $1.5 billion lower in 2016 than it was in
2015, providing a substantial benefit to FCF generation.

The Stable Outlook reflects Fitch's view that the recent
improvements in United's credit metrics will likely pause or
modestly reverse in the near term due to unit cost pressures
created by new union contracts, the possibility of higher fuel
prices, the absence of future debt reduction, and a soft
unit-revenue environment. FCF will also be limited by relatively
high capital spending primarily related to a heavy aircraft
delivery schedule over the next couple of years. “Nevertheless,
we expect United's credit metrics over the longer term to be
supportive of ratings at least at the 'BB' level.” Fitch said.

Other concerns include United's share repurchase activity, which
has directed a meaningful amount of cash to shareholders in recent
years. United intends to remain flexible with its share repurchase
program and does not anticipate repurchases to come at the expense
of a healthy balance sheet, but a change to that policy could
pressure the ratings. Weak unit revenues experienced over the past
two years are not a material concern at this point as they have
been largely offset by lower fuel costs. Longer-term revenue
weakness would be a concern particularly if unit revenues were to
remain pressured in a rising fuel environment. This risk has abated
somewhat recently as the unit revenue environment has started to
reverse the negative trends experienced over the past two years.

KEY RATING DRIVERS

Stable Debt Balances: United has stated that it does not intend to
materially reduce leverage from current levels, which represents a
modest change in messaging from its previously articulated goals of
reaching $15 billion in gross adjusted debt. “Although Fitch
viewed management's previously stated goal of further debt
reduction favorably, we do not believe that United's current debt
levels prevent the company from achieving higher ratings.” Fitch
said. However, future upgrades are likely to be based on
operational improvement, cost control, and relative margin
improvement. Current debt levels translate into adjusted leverage
ratios that are likely to remain in the mid-3x range in the coming
years depending United's margin performance, which is in-line with
a 'BB' rating.

Aside from manageable leverage, United's balance sheet benefits
from a growing base of unencumbered assets, which the company
estimates at around $8 billion in value, and from a manageable
pension obligation. United's pension deficit stood at just under
$1.5 billion as of year-end 2015. United's ratings are also
supported by its position as one of the largest carriers in the
world, and the breadth of its route network. Further upgrades could
also be warranted if United proves successful in some of its
ongoing initiatives, including improving its operational
reliability, controlling its cost structure, improving operating
margins relative to peers, and winning back customer loyalty.

FCF Expected to Remain Positive: Fitch expects United to generate
consistently positive FCF throughout our forecast period. Fuel
prices remaining well below pre-2015 levels continue to be a major
driver of the company's improved cash flow profile, but United is
also benefitting from cost control efforts and up-gauging away from
50-seat regional jet flying. Fitch expects FCF in 2016 to be around
$2 billion, down from $2.4 billion in 2015. FCF is likely to trend
lower in 2017 and 2018 due to higher capex, and the possibility for
moderately shrinking margins driven by higher fuel prices and labor
costs. Fitch said, “Although we expect FCF to stay positive
through the forecast, the projection is sensitive to fuel prices,
and could decline quickly if increases in jet fuel were not offset
by higher ticket prices.”

Heavy Upcoming Deliveries: United is in the midst of an extensive
re-fleeting effort. Fitch previously expected 2015 to represent a
peak year for capital spending, but recent changes to United's
aircraft order book will keep capex high through the next several
years. United's updated guidance is for average gross capital
spending of between $3.8 billion/year and $4 billion/year for
several years. This is up from around $3.6 billion in 2015 and $3.1
billion in 2014. Fitch views this action as primarily a
pull-forward of future capital spending rather than a significant
increase to overall spending levels.

In early 2016 United added 65 737-700s to its order book (40 in
January and 25 in March) as part of its effort to reduce its
reliance on 50-seat regional jets. The 737s will begin arriving in
2017. United also decided to accelerate the delivery of some of its
777s and 787s, and will now be taking 14 777-300ERs through next
year. The 777s will allow United to accelerate the retirement of
its 747 fleet, which has suffered from reliability issues in recent
years, and which operate at a unit cost disadvantage to smaller
wide-body aircraft. The re-fleeting efforts should provide
longer-term benefits, as they allow the carrier to shrink its
50-seat RJ fleet and retire its 747s, but higher capex will limit
FCF in the near term.

Recent Union Contracts: Thus far in 2016 United has extended the
collective bargaining agreement with its pilot union through 2019,
extended its agreement with employees represented by the IAM, and
reached an agreement with its flight attendants in what had been a
long drawn-out negotiation. The flight attendant contract is
notable because the company had been unable to reach an agreement
with the group since the United/Continental merger. The new
contract will finally allow the company to freely mix and match
former United and former Continental crews on all of its flights,
something it had not been able to do in the six years since the
merger.

Aside from the logistical issues of improved scheduling, the new
labor agreements may go a ways towards improving employee
relations, which had been rocky at United for several years. The
new agreements will put some pressure on unit costs in the near
term. However, United has reiterated its long-term target of
keeping average annual CASM growth below inflation.

LIQUIDITY

Sufficient Liquidity: United's liquidity position is supportive of
the rating. Fitch's liquidity analysis combines current cash on
hand with our forecast for two years of operating cash flow
compared to upcoming debt maturities and capital expenditures.
Fitch said, “We estimate that UAL's liquidity is more than
sufficient to cover upcoming obligations, while maintaining an
adequate cash reserve.” As of June 30, 2016, United maintained $6
billion in total liquidity including full availability under its
$1.35 billion revolver. Liquidity as a percentage of LTM revenue
was 16.3%. Debt maturities in the coming years are manageable at
roughly $900 million in 2017 and $1.5 billion in 2018.

EETC Ratings:

Along with the upgrade of United's corporate rating, Fitch has also
upgraded several subordinated tranches for United's existing EETCs.
Subordinated tranches are rated by notching up from the underlying
airline rating; therefore, Fitch has upgraded United's existing B
and C tranches commensurate with the upgrade of the IDR. Senior
tranche ratings are primarily based on levels of
overcollateralization with a secondary dependence on the airline
rating; therefore, the ratings for United's existing senior tranche
ratings are unchanged. A full list of ratings affected is shown
below.

KEY ASSUMPTIONS

Key assumptions in Fitch's rating case include:

   -- Capacity growth in the low single digits through the
      forecast period;

   -- Continued moderate economic growth in the U.S. over the near

      term, translating into stable demand for air travel;

   -- Jet fuel prices equating to roughly $55/barrel on average
      for 2017, increasing to approximately $65/barrel by the end
      of the forecast period;

   -- Mid- to high-single-digit RASM decline in 2016 followed by
      low growth thereafter.

RATING SENSITIVITIES

Future actions that may individually or collectively lead Fitch to
take a positive rating action include:

   -- Adjusted debt/EBITDAR sustained around 3x;

   -- FFO fixed charge sustained above 3.5x;

   -- FCF as a percentage of revenue sustained in the mid-single
      digits;

   -- Continued improvements in United's operational performance;

   -- Evidence of improving unit revenues.

Future actions that may individually or collectively lead Fitch to
take a negative rating action include:

   -- Adjusted debt/EBITDAR sustained above 4x;

   -- EBITDAR margins deteriorating into the low double-digit
      range;

   -- Persistently negative or negligible FCF.

EETC Rating Sensitivities:

Subordinated tranche ratings are based off of the underlying
airline IDR. As such, Fitch would likely upgrade the B tranches to
'BBB+' if United's IDR were upgraded to 'BB+'. Conversely, if
United were downgraded to 'BB-' the B tranches would likewise be
downgraded to 'BBB-'. Alternately the subordinated tranches could
be downgraded if Fitch's view of the strategic importance of the
underlying aircraft were to change.

FULL LIST OF RATING ACTIONS

United Continental Holdings, Inc.

   -- IDR upgraded to 'BB' from 'BB-';

   -- Senior unsecured rating upgraded to 'BB/RR4' from 'BB-/RR4'.

United Airlines, Inc.

   -- IDR upgraded to 'BB' from 'BB-';

   -- Secured bank credit facility affirmed at 'BB+/RR1'.

United Airlines Pass Through Trust Series 2014-2

   -- Class B Certificates upgraded to 'BBB' from 'BBB-'.

United Airlines Pass Through Trust Series 2014-1

   -- Class B Certificates upgraded to 'BBB' from 'BBB-'.

United Airlines Pass Through Trust Series 2013-1

   -- Class B Certificates upgraded to 'BBB' from 'BBB-'.

Continental Airlines Pass Through Trust Series 2012-2

   -- Class B Certificates upgraded to 'BBB' from 'BBB-'.

Continental Airlines Pass Through Trust Series 2012-3

   -- Class C Certificates upgraded to 'BB+' from 'BB'.




UNIVERSAL SOFTWARE: Seeks to Hire Legal Visa as Special Counsel
---------------------------------------------------------------
Universal Software Corp. seeks approval from the U.S. Bankruptcy
Court for the District of Massachusetts to hire special counsel.

The company proposes to hire Legal Visa Law Offices, LLC to give
general advice on immigration laws and to respond to any inquiry
from the U.S. Immigration Service.

The firm will be compensated in accordance with its flat fee
billing schedule, a copy of which can be accessed for free at
https://is.gd/qndQwh

Adam Loops, Esq., managing partner of Legal Visa Law Offices,
disclosed in a court filing that the firm is a "disinterested
person" as defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Adam Loops, Esq.
     Legal Visa Law Offices, LLC
     221 Briarheath Lane
     Naperville, IL 60565
     Phone: (630) 548-5730
     Fax: (630) 548-5700
     Email: info@legal-visa.com

                    About Universal Software

Universal Software Corporation filed for Chapter 11 protection
(Bankr. D. Mass. Case No. 16-40872) on May 18, 2016.  The petition
was signed by Kishore Deshpande, president.  The Hon. Christopher
J. Panos presides over the case.

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


URBANCORP INC: CCAA Claims Bar Date Set for November 23
-------------------------------------------------------
All persons who assert a claim against Urbancorp (Woodbine) Inc.,
Urbancorp (Bridlepath) Inc., The Townhouses of Hogg's Hollow Inc.,
King Towns Inc., Newtowns at King Towns Inc., Deaja Partner (Bay)
Inc., and TCC/Urbancorp (Bay) Limited Partnership must file a proof
of claim with KSV Kofman Inc. no later than 5:00 p.m. (Toronto
Time) on Nov. 23, 2016, at:

   KSV Kofman Inc.
   Attention: Noah Goldstein
   150 King Street West, Suite 2308
   Toronto, Ontario M5H 1J9
   Tel: (416) 932-6207
   Email: ngoldstein@ksvadvisory.com

Urbancorp Inc. -- http://www.urbancorp.com-- is a real estate
developer in Canada.


VEGA ALTA: Hires Jaime Rodriguez Law as Counsel
-----------------------------------------------
Vega Alta Community Health, Inc., seeks authority from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Jaime
Rodriguez Law Office, PSC as counsel to the Debtor.

Vega Alta requires Jaime Rodriguez to:

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

   b. prepare on behalf of the Debtor as Debtor-in-Possession
      necessary applications, answers, orders, reports and other
      legal papers;

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

Jaime Rodriguez will be paid at these hourly rates:

     Jaime Rodriguez-Perez, Attorney        $250
     Paralegals                             $50
     Law Clerks                             $50

Jaime Rodriguez will be paid a retainer in the amount of $5,820.

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

Jaime Rodriguez Perez, member of Jaime Rodriguez Law Office, PSC,
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 Debtor and its estates.

Jaime Rodriguez can be reached at:

     Jaime Rodriguez Perez, Esq.
     JAIME RODRIGUEZ LAW OFFICE, PSC
     Urb. Rexville, BB-21 Calle 38
     Bayamo, PR 00938
     Tel: (787) 797-4174

                     About Vega Alta

Vega Alta Community Health, Inc., based in Catano, PR, filed a
Chapter 11 petition (Bankr. D.P.R. Case No. 16-08128) on October
11, 2016.  Jaime Rodriguez Perez, at Jaime Rodriguez Law Office,
PSC, serves as bankruptcy counsel.  In its petition, the Debtor
listed $25,582 in assets and $1.47 million in liabilities.  The
petition was signed by Luis M Gonzalez Bermudez, president.


VELOP CORP: Hires JPC Law as Bankruptcy Counsel
-----------------------------------------------
Velop Corp., seeks authority from the U.S. Bankruptcy Court for the
District of Puerto Rico to employ JPC Law Office as counsel to the
Debtor.

Velop Corp. requires JPC Law to:

   a. advise the Debtor with respect to its duties, powers and
      responsibilities in the case under the laws of U.S and
      Puerto Rico in which the Debtor-in-Possession conducts its
      operations;

   b. advise the Debtor in connection with a determination on
      whether a reorganization is feasible and if not, help the
      Debtor in the orderly liquidation of its assets;

   c. assist the Debtor with respect to negotiations with
      creditors for the purpose of achieving a reorganization or
      an orderly liquidation;

   d. prepare on behalf of the Debtor the necessary complaints,
      answers, orders, reports, memoranda of law and any other
      legal paper or document required in the Chapter 11 case;

   e. appear before the Bankruptcy Court or any other court in
      which the Debtor asserts a claim, interest or defense
      related to the bankruptcy case;

   f. perform such other legal services for the Debtor as may be
      required in the proceeding or in connection with the
      operation of the Debtor's business including, but not
      limited to, notarial services; and

   g. employ other professional services, if necessary.

JPC Law will be paid at the hourly rate of $175.  JPC Law will be
paid a retainer in the amount of $5,000, plus $1,717 as filing
fees.  JPC Law will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Jose M. Prieto Carballo, member of JPC Law Office, 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 Debtor and its estates.

JPC Law can be reached at:

     Jose M. Prieto Carballo, Esq.
     JPC LAW OFFICE
     P.O. Box 363565
     San Juan, PR 00936-3565
     Tel: (787) 607-2066
     E-mail: jpc@jpclawpr.com

                       About Velop Corp.

Velop Corp, filed a Chapter 11 bankruptcy petition (Bankr. D.P.R.
Case No. 16-08357) on October 19, 2016, disclosing under $1 million
in both assets and liabilities. The Debtor is represented by Jose M
Prieto Carballo, Esq., at JPC Law Office.


WAFERGEN BIO-SYSTEMS: Stockholders Meeting Adjourned to Nov. 15
---------------------------------------------------------------
WaferGen Bio-systems, Inc. said the special meeting of stockholders
on Oct. 26, 2016, was convened and adjourned, without any business
being conducted (other than the adjournment of the special
meeting).  The special meeting will reconvene on Nov. 15, 2016, at
1:00 p.m. local time at WaferGen's headquarters located at 34700
Campus Drive, Fremont, California 94555.  The record date for
stockholders entitled to vote at the special meeting remains Sept.
15, 2016.

The adjournment is to allow for the solicitation of additional
votes in favor of the proposals contained in the definitive proxy
statement that WaferGen filed with the Securities and Exchange
Commission on Sept. 15, 2016, including the proposal to adopt the
Agreement and Plan of Merger dated May 12, 2016, with Takara Bio
USA Holdings, Inc.  While the proposal to adopt the Merger
Agreement has received very strong stockholder support (more than
71% of proxies received to date have been in favor of adoption of
the Merger Agreement), approval of a majority of all outstanding
shares of WaferGen common stock is necessary for this proposal to
be approved.  WaferGen notes that approximately 7.7 million shares
(representing more than 40% of the total outstanding) remained
unvoted as of the time of the October 26 meeting.  WaferGen
attributes the temporary shortfall primarily to the fact that
WaferGen currently has a large and diverse stockholder base.

During the period of the adjournment, WaferGen will continue to
solicit proxies from its stockholders. Stockholders who have
already voted do not need to recast their votes.  Stockholders who
have not already done so are encouraged to vote.  Proxies
previously submitted in respect of the meeting will be voted at the
reconvened meeting unless properly revoked.

Leading independent proxy advisory firms Institutional Shareholder
Services Inc. and Glass Lewis & Co. LLC recommend stockholders of
WaferGen vote in favor of the adoption of the Merger Agreement. The
board of directors of WaferGen unanimously recommends that
stockholders vote "FOR" the proposal to adopt the Merger
Agreement.

"T[he] adjournment provides stockholders who have not yet
participated in the critical process the opportunity to do so,
which we urge them to do.  Stockholders who have not yet voted are
reminded that every vote will count no matter how many shares they
own.  Unlike proxy votes on routine annual meeting matters, a
non-vote is effectively a "No" vote for the merger.  Please act
today!"

Stockholders who need assistance in voting their shares or who have
questions are encouraged to contact WaferGen's information agent
and strategic shareholder services advisor, Kingsdale Shareholder
Services, at 1-866-581-0512 or contactus@kingsdaleshareholder.com.


                  About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen reported a net loss attributable to common stockholders of
$19.99 million on $7.16 million of total revenue for the year ended
Dec. 31, 2015, compared to a net loss attributable to common
stockholders of $10.7 million on $6 million of total revenue for
the year ended Dec. 31, 2014.

As of June 30, 2016, Wafergen had $15.0 million in total assets,
$7.92 million in total liabilities and $7.11 million in total
stockholders' equity.


WAFERGEN BIO-SYSTEMS: Urges Stockholders to Vote For Merger
-----------------------------------------------------------
WaferGen Bio-systems, Inc. reported certain preliminary financial
information for the quarter ended Sept. 30, 2016, in a letter to
stockholders.  

"I am writing to you with a very important update and asking you to
take immediate action to vote to preserve the value of your
WaferGen Bio-systems, Inc. ("WaferGen") investment," said Ivan
Trifunovich, executive chairman of the Board of Directors.

"While the proposal to adopt the merger agreement has received
strong stockholder support (more than 71% of proxies received to
date have been in favor of adoption of the merger agreement), your
vote is still required.  Approval of a majority of all outstanding
shares of WaferGen common stock is necessary for this proposal to
be approved.  As of today, approximately 41% of stockholders have
not voted.  This means your vote is important and will make a
difference no matter how many shares you own. WaferGen has provided
more time to ensure all stockholders fully understand the cash
consideration benefit they will receive and the ramifications of
failing to complete the merger and to solicit proxies for the
proposal to adopt the merger agreement."  

A copy of the letter to stockholders is available at:

                    https://is.gd/7BOgYH

WaferGen Bio-systems, Inc. (NASDAQ: WGBS), and Takara Bio USA
Holdings, Inc. ("TBUSH"), on May 13, 2016, announced that they have
entered into a merger agreement pursuant to which TBUSH will
acquire WaferGen.  TBUSH is a wholly owned subsidiary of Takara Bio
Inc. (TSE: 4974), a leading global biotechnology and life science
company.  Takara Bio USA, Inc., formerly known as Clontech
Laboratories, Inc., is a wholly owned subsidiary of TBUSH and is a
guarantor under the merger agreement.

Under the terms of the merger agreement, TBUSH will acquire
WaferGen for an aggregate cash purchase price that will be based on
a multiple of WaferGen's 2016 calendar revenue and capped at $50.0
million, subject to potential adjustments.  The multiple will range
between 1.0 times up to 3.5 times WaferGen's full year 2016
revenue.  If revenues exceed $9.0 million the multiple will be 3.5.
The aggregate purchase price as so determined will be used to pay
for all outstanding securities of WaferGen, including options and
warrants and other securities as well as outstanding shares.  The
merger is expected to close after completion of WaferGen's audited
financial statements in February or March of 2017, subject to the
conditions set forth in the merger agreement.

The Companies' joint statement on the Merger deal is available at
https://is.gd/TPuaTy

                 About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen reported a net loss attributable to common stockholders of
$19.99 million on $7.16 million of total revenue for the year ended
Dec. 31, 2015, compared to a net loss attributable to common
stockholders of $10.7 million on $6 million of total revenue for
the year ended Dec. 31, 2014.

As of June 30, 2016, Wafergen had $15.0 million in total assets,
$7.92 million in total liabilities and $7.11 million in total
stockholders' equity.


WEST VIRGINIA HIGH: Hires Easter Valley as Real Estate Broker
-------------------------------------------------------------
West Virginia High Technology Consortium Foundation and HT
Foundation Holdings, Inc., seek authority from the U.S. Bankruptcy
Court for the Northern District of West Virginia to employ Easter
Valley, LLC as real estate broker to the Debtors.

West Virginia High requires Easter Valley to market and sell the
Debtors' real property known as:

     (i) 5000 NASA Boulevard, Fairmont, West Virginia 26554;

    (ii) Alan B. Mollohan Innovation Ctr., Fairmont, West Virginia
26554; and

   (iii) Training Center, Fairmont, West Virginia 26554.

Easter Valley will be paid 2% to 4% commission upon sale of the
real property.

Shaun Petracca, member of Easter Valley, 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.

Easter Valley can be reached at:

     Shaun Petracca
     EASTER VALLEY, LLC
     219 Monroe Street
     Fairmont, WV 26554
     Tel: (304) 365-3770
     E-mail: petracca@easternvalley.net


                    About West Virginia High Technology
                          Consortium Foundation

West Virginia Hight Technology Consortium Foundation and HT
Foundation Holdings, Inc., filed chapter 11 petitions (Bankr. N.D.
W.Va. Case Nos. 16-00806 and 16-00807) on Aug. 4, 2016. The Hon.
Patrick M. Flatley presides over the case. David B. Salzman, Esq.,
at Campbell & Levine, LLC serves as bankruptcy counsel.

In its petition, the Debtors estimated $10 million to $50 million
in both assets and liabilities. The petitions were signed by James
L. Estep, president and CEO.


WEST VIRGINIA HIGH: Hires Rolston as Real Estate Appraiser
----------------------------------------------------------
West Virginia High Technology Consortium Foundation and HT
Foundation Holdings, Inc., seek authority from the U.S. Bankruptcy
Court for the Northern District of West Virginia to employ Rolston
& Company as real estate appraiser to the Debtors.

West Virginia High requires Rolston to appraise and determine the
value of the Debtors' real property known as:

     (i) 5000 NASA Boulevard, Fairmont, West Virginia 26554;

    (ii) Alan B. Mollohan Innovation Ctr., Fairmont, West Virginia
26554; and

   (iii) Training Center, Fairmont, West Virginia 26554.

Rolston will be paid the amount of $3,000 per appraisal, or for the
total amount of $9,000.

Darrell Rolston, member of Rolston & Company, 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.

Rolston can be reached at:

     Darrell Rolston, member
     Rolston & Company
     405 Pennsylvania Avenue
     Charleston, WV 25302
     Tel: (304) 345-0500
     Fax: (304) 345-4665
     E-mail: darell@rolstonandcompany.com

                    About West Virginia High Technology
                          Consortium Foundation

West Virginia Hight Technology Consortium Foundation and HT
Foundation Holdings, Inc., filed chapter 11 petitions (Bankr. N.D.
W.Va. Case Nos. 16-00806 and 16-00807) on Aug. 4, 2016.  The Hon.
Patrick M. Flatley presides over the case.  David B. Salzman, Esq.,
at Campbell & Levine, LLC serves as bankruptcy counsel.

In its petition, the Debtors estimated $10 million to $50 million
in both assets and liabilities. The petitions were signed by James
L. Estep, president and CEO.


                            *********

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.
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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
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Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

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