TCR_Public/170311.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, March 11, 2017, Vol. 21, No. 69

                            Headlines

COMBIMATRIX CORP: Michael Lipka Has 6.1% Stake as of Feb. 23
COMBIMATRIX CORP: Reports 2016 Net Loss of $5.78 Million
DAKOTA PLAINS: Posts $479,041 Net Loss in January
INTERNATIONAL SHIPHOLDING: Suffers $9.38MM Net Loss in January
PARAGON OFFSHORE: Net Loss Decreases to $1.62 Million in January

PREMIER EXHIBITIONS: Files Monthly Operating Report for January

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COMBIMATRIX CORP: Michael Lipka Has 6.1% Stake as of Feb. 23
------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Michael A. Lipka disclosed that as of Feb. 23, 2017, he
beneficially owns 152,875 shares of common stock of CombiMatrix
Corporation representing 6.1 percent of the shares outstanding.
A full-text copy of the regulatory filing is available at:

                    https://is.gd/GAwwOe

                     About Combimatrix

Irvine, California-based CombiMatrix Corporation specializes in
pre-implantation genetic screening, miscarriage analysis, prenatal
and pediatric healthcare, offering DNA-based testing for the
detection of genetic abnormalities beyond what can be identified
through traditional methodologies.  Its clinical lab and corporate
offices are located in Irvine, California.

CombiMatrix reported a net loss attributable to common stockholders
of $5.78 million on $12.86 million of total revenues for the year
ended Dec. 31, 2016, compared to a net loss attributable to common
stockholders of $7.65 million on $10.08 million of total revenues
for the year ended Dec. 31, 2015.

As of Dec. 31, 2016, CombiMatrix had $8.47 million in total assets,
$1.98 million in total liabilities and $6.49 million in total
stockholders' equity.


COMBIMATRIX CORP: Reports 2016 Net Loss of $5.78 Million
--------------------------------------------------------
CombiMatrix Corporation filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K reporting a net loss
attributable to common stockholders of $5.78 million on $12.86
million of total revenues for the year ended Dec. 31, 2016,
compared to a net loss attributable to common stockholders of $7.65
million on $10.08 million of total revenues for the year ended Dec.
31, 2015.

As of Dec. 31, 2016, CombiMatrix had $8.47 million in total assets,
$1.98 million in total liabilities and $6.49 million in total
stockholders' equity.

"We have a history of incurring net losses and net operating cash
flow deficits.  We are also deploying new technologies and continue
to develop new and improve existing commercial diagnostic testing
services and related technologies.  As a result, these conditions
raised substantial doubt regarding our ability to continue as a
going concern beyond 2017.  However, as of December 31, 2016, we
had cash, cash equivalents and short-term investments of $3.7
million.  Also, the combination of continued revenue and cash
reimbursement growth as we have seen over the past several
quarters, coupled with improved gross margins and cost containment
of expenses leads management to believe that it is probable that
the Company's cash resources will be sufficient to meet our cash
requirements through and beyond the fourth quarter of 2017, where
we anticipate to achieve cash flow break-even status.  If
necessary, management also believes that it is probable that
external sources of debt and/or equity financing could be obtained
based on management's history of being able to raise capital
coupled with current favorable market conditions.  As a result of
both management's plans and current favorable trends in improving
cash flow, we believe the initial conditions which raised
substantial doubt regarding our ability to continue as a going
concern have been alleviated.  Therefore, the accompanying
consolidated financial statements have been prepared assuming that
we will continue as a going concern," the Company stated in the
report.

At Dec. 31, 2016, cash, cash equivalents and short-term investments
totaled $3.7 million, compared to $3.9 million at Dec. 31, 2015.
Cash is held primarily in general checking accounts as well as in
money market mutual funds backed by U.S. government securities.
Short-term investments are comprised primarily of certificates of
deposits issued by U.S. financial institutions and commercial
paper.  Working capital was $6.1 million and $5.4 million at Dec.
31, 2016 and 2015, respectively.  The primary reason for the
increase in working capital was due to higher current asset
balances including accounts receivable and laboratory supplies at
Dec. 31, 2016 compared to 2015.

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

                    https://is.gd/bdZdlO

                     About Combimatrix

Irvine, California-based CombiMatrix Corporation specializes in
pre-implantation genetic screening, miscarriage analysis, prenatal
and pediatric healthcare, offering DNA-based testing for the
detection of genetic abnormalities beyond what can be identified
through traditional methodologies.  Its clinical lab and corporate
offices are located in Irvine, California.


DAKOTA PLAINS: Posts $479,041 Net Loss in January
-------------------------------------------------
Dakota Plains Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its monthly operating report for January 2017.

The Debtor's statement of operations reflected a net loss of
$479,041 on $10,600 of revenue for the month.

As of January 31, 2017, the Debtor had total assets of $3.42
million, $75.65 million in total liabilities, and -$72.23 million
in total shareholders' equity.

At January 1, 2017, the Debtor had $274,054 cash.  It listed total
receipts of $792,108 and $591,556 in total disbursements.  Thus,
the Debtor had $474,606 cash at January 31.

A copy of the monthly operating report is available at the SEC at:

                    https://is.gd/puZw7P

              About Dakota Plains Holdings, Inc.

Dakota Plains Holdings, Inc. (NYSE MKT: DAKP) --
http://www.dakotaplains.com/--is an energy company operating the  

Pioneer Terminal transloading facility. The Pioneer Terminal is
centrally located in Mountrail County, North Dakota, for Bakken and
Three Forks related Energy & Production activity.

Dakota Plains Holding and six of its wholly owned subsidiaries
filed voluntary Chapter 11 petitions (Bankr. D. Minn. Lead Case No.
16-43711) on Dec. 20, 2016, initiating a process intended to
preserve value and accommodate an eventual going-concern sale of
Dakota Plains' business operations. The petitions were signed by
Marty Beskow, CFO. The cases are assigned to Judge Michael E.
Ridgway.

At the time of the filing, Dakota Plains Holdings disclosed $3.08
million in assets and $75.38 million in liabilities.

Baker & Hostetler LLP has been tapped as the Debtors' legal
counsel.  Ravich Meyer Kirkman McGrath Nauman & Tansey, A
Professional Association serves as co-counsel.  Canaccord Genuity
Inc. serves as the Debtors' financial advisor and investment
banker, Carlson Advisors as accountant, James Thornton as special
purpose counsel.

The U.S. Trustee has been unable to appoint an official unsecured
creditors committee.



INTERNATIONAL SHIPHOLDING: Suffers $9.38MM Net Loss in January
--------------------------------------------------------------
International Shipholding Corporation, on February 15, 2017, filed
with the U.S. Securities and Exchange Commission its monthly
operating report for January 2017.

The Debtor's statement of operations showed a net loss of $9.38
million on $15.68 million of gross revenue for the month, wider
compared to $6.77 million net loss reported for December 2016.

As of January 31, 2017, the Debtor recorded total assets of $249.12
million, $46.94 million in total post-petition liabilities, $163.58
million in total pre-petition liabilities, and $38.60 million in
total shareholders' equity.

At the start of the month, the Debtor had $5.41 million cash.  It
listed total cash receipts of $63.42 million and a total
disbursements of $40.54 million.  At month end, the Debtor had
$28.28 million cash.

A copy of the monthly operating report is available at the SEC at:

                    https://is.gd/92SEC1

               About International Shipholding

International Shipholding Corp. filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 16-12220) on July 31, 2016.  Its affiliated
debtors also filed separate Chapter 11 petitions.  The petitions
were signed by Manuel G. Estrada, vice president and chief
financial officer.

International Shipholding Corp. was engaged in waterborne cargo
transportation and maintained a diversified customer base with
emphasis on medium and long term contracts. ISH was founded in
1947 when the Johnsen family purchased a Liberty Ship after the
establishment of the War Ship Act of 1946 and became a public
company in 1979. Through its Debtor and non-Debtor subsidiaries,
International Shipholding now operates a diversified fleet of 21
U.S. and foreign flag vessels that provide domestic and
international maritime transportation services to commercial and
governmental customers primarily under medium to long-term
contracts.  As of the Petition Date, International Shipholding
maintained offices in Mobile, Alabama, New Orleans, Louisiana, New
York, New York, and Tampa, Florida, as well as a network of
agencies in major cities worldwide.

ISH, which was formed as a Delaware corporation in 1978 and became
a public company in 1979, is the ultimate corporate parent of the
International Shipholding family of companies. International
Shipholding's fleet is operated by ISH's principal Debtor and
non-Debtor subsidiaries, including Central Gulf Lines, Inc.,
Waterman Steamship Corporation, Enterprise Ship Company, Inc., U.S.
United Ocean Services, LLC, CG Railway, Inc., LCI Shipholdings,
Inc., Sulphur Carriers, Inc., and East Gulf
Shipholding, Inc.  Certain other of ISH's Debtor subsidiaries,
including LMS Shipmanagement, Inc. and N. W. Johnsen & Co., Inc.,
provide ship management, ship charter brokerage, agency and other
specialized services. C.G. Railway Inc., Cape Holding LTD, Dry Bulk
Cape Holding, Inc., East Gulf Shipholding, Inc., MPV Netherlands
C.V., MPV Netherlands Cooperatief U.A., MPV Netherlands B.V., Bulk
Shipholding Inc., and Terminales Transgolfo S.A. de C.V. are not
debtors in these Chapter 11 cases.

The Debtors are represented by David H. Botter, Esq., Sarah Link
Schultz, Esq., and Travis A. McRoberts, Esq., at Akin Gump Strauss
Hauer & Feld LLP. The Debtors' Restructuring Advisor is Blackhill
Partners, LLC. Their Claims, Noticing & Balloting Agent is Prime
Clerk LLC.

The Debtors disclosed total assets at $305.1 million and total
debts at $226.8 million as of March 31, 2016.

William K. Harrington, the U.S. Trustee for the Southern District
of New York, on Sept. 1, 2016, appointed three creditors to serve
on the official committee of unsecured creditors of International
Shipholding Corporation. The committee hires Pachulski Stang Ziehl
& Jones LLP as counsel, and AMA Capital Partners, LLC as financial
advisor.

On Dec. 28, 2016, the Debtors filed their first amended joint
Chapter 11 plan of reorganization. Class 7 general unsecured
creditors are expected to recover 7% of their claims, according to
the filing.



PARAGON OFFSHORE: Net Loss Decreases to $1.62 Million in January
----------------------------------------------------------------
Paragon Offshore plc, et. al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for January
2017.

Paragon Offshore plc reported a net loss of $1.62 million on $4.06
million of operating revenues for month, a decrease compared to
$8.43 million net loss listed for December 2016.

As of January 31, 2017, Paragon Offshore plc posted total assets of
$4.01 billion, total liabilities of $2.55 billion, and $1.46
billion in total shareholders' equity.

The Debtors started the month with $552.57 million cash.  They
listed $19.77 million in total receipts and $22.06 million in
total disbursements.  At month end, the Debtors had $536.99
million cash.

A copy of the monthly operating report is available at the SEC at:

                    https://is.gd/2rQOi2

                   About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semi-submersibles).  Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas.  Paragon is a public limited company registered in
England and Wales and its ordinary shares have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
Dec. 18, 2015.

Paragon Offshore Plc, et al., filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb. 14, 2016,
after reaching a deal with lenders on a reorganization plan that
would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total debt
of $2.96 billion as of Sept. 30, 2015.

The Debtors engaged Weil, Gotshal & Manges LLP as general counsel,
Richards, Layton & Finger, P.A. as local counsel, Lazard Freres &
Co. LLC as financial advisor, Alixpartners, LLP, as restructuring
advisor, and Kurtzman Carson Consultants as claims and noticing
agent.

No request has been made for the appointment of a trustee or an
examiner in the cases.

On Jan. 27, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  Paul, Weiss, Rifkind,
Wharton & Garrison LLP serves as main counsel to the Committee and
Young Conaway Stargatt & Taylor, LLP acts as co-counsel.



PREMIER EXHIBITIONS: Files Monthly Operating Report for January
---------------------------------------------------------------
Premier Exhibitions, Inc., filed with the U.S. Securities and
Exchange Commission its monthly operating report for January
2017.

The Company listed zero receipts and disbursements for the month.

It also did not post a list of its assets and liabilities.

A copy of the monthly operating report is available at the SEC at:

                    https://is.gd/NENOEr

         About Premier Exhibitions/RMS Titanic, Inc.

Premier Exhibitions, Inc. (Nasdaq: PRXI), located in Atlanta,
Georgia, is a presenter of museum quality exhibitions throughout
the world.  Premier --http://www.PremierExhibitions.com/--   
develops and displays unique exhibitions for education and
entertainment including Titanic: The Artifact Exhibition,
BODIES...The Exhibition, Tutankhamun: The Golden King and the Great
Pharaohs, Pompeii The Exhibition, Extreme Dinosaurs and Real
Pirates in partnership with National Geographic.  The success of
Premier Exhibitions lies in its ability to produce, manage, and
market exhibitions.

RMS Titanic and seven of its subsidiaries filed voluntary petitions
for reorganization under Chapter 11 of the Bankruptcy Code (Bankr.
M.D. Fla. Lead Case No. 16-02230) on June 14, 2016.  Former Chief
Financial Officer and Chief Operating Officer Michael J. Little
signed the petitions.  The Chapter 11 cases are assigned to Judge
Paul M. Glenn.

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

Guy Gebhardt, acting U.S. trustee for Region 21, on Aug. 24, 2016,
appointed three creditors to serve on the official committee of
unsecured creditors of RMS Titanic, Inc., and its affiliates.  The
Committee hired Storch Amini & Munves PC and Thames Markey &
Heekin, P.A. as counsel.



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