/raid1/www/Hosts/bankrupt/TCR_Public/190605.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, June 5, 2019, Vol. 23, No. 155

                            Headlines

1 GLOBAL CAPITAL: Seeks to Hire Epiq as Administrative Advisor
1400 NORTHSIDE: Seeks to Hire Paul Reece as Legal Counsel
AAC HOLDINGS: Hires Cantor Fitzgerald as Financial Advisor
ALPINE 4 TECHNOLOGIES: Subsidiary Secures $4.5M in Production Work
AMERICAN TECHNICAL: Seeks to Hire David W. Steen as Special Counsel

ARCIMOTO INC: Will Develop Next-Gen Fleet Of Fun Utility Vehicles
ASTRIA HEALTH: Seeks to Hire Kurtzman Carson as Noticing Agent
AUSTEX OIL: Case Summary & 7 Unsecured Creditors
AVEANNA HEALTHCARE: S&P Affirms 'B-' Issuer Credit Rating
BEAUTIFUL BROWS: Trustee's $285K Sale of Personal Property Approved

BRAZOS PERMIAN II: S&P Assigns 'B-' ICR; Outlook Stable
BROWNLEE FARM: Seeks to Hire Allen Pritchett as Accountant
CALMARE THERAPEUTICS: Court Denies GEOMC's Rehearing Request
COX LAND: Seeks to Hire Balch & Bingham as Special Counsel
CROSBY US: Moody's Hikes CFR to B3 & Alters Outlook to Stable

CROSBY WORLDWIDE: S&P Alters Outlook to Pos., Affirms 'B-' ICR
DAVE GIDDEON: Seeks to Hire Patten Peterman as Counsel
DUBOIS CHEMICALS: Moody's Alters Outlook on B2 CFR to Negative
DXP ENTERPRISES: Moody's Hikes CFR to B1, Outlook Stable
EDWARD DAWSON: Lindholts Buying Spokane Property for $225K

ENDEAVOR ENERGY: S&P Upgrades ICR to 'BB-'; Outlook Stable
EXELA TECHNOLOGIES: S&P Downgrades ICR to B- on Liquidity Concerns
FISION CORP: 1Q 2019 Financial Results Cast Going Concern Doubt
FIVE DREAMS: Case Summary & 7 Unsecured Creditors
FROM DUSK TIL DAWN: Crowell Buying Irvington Property for $50K

FRONTIER OILFIELD: Has $287,363 Net Loss for Quarter Ended Mar. 31
FT/R LLC: Case Summary & 7 Unsecured Creditors
FTD COMPANIES: Flower Delivery Company Files for Bankruptcy
FUSION CONNECT: 1st Lien Lenders Get Equity in Plan Scenario
FUSION CONNECT: Case Summary & 40 Largest Unsecured Creditors

FUSION CONNECT: Files for Chapter 11 After Reaching Deal
GALENFEHA INC: MaloneBailey, LLP Raises Going Concern Doubt
GATEWAY CASINOS: S&P Alters Outlook to Negative, Affirms 'B' ICR
GAVILAN RESOURCES: S&P Lowers ICR to CCC+ on Declining Production
GEX MANAGEMENT: Seeks More Capital Sources to Remain Going Concern

GOLF VIEW: Valley Buying Cathedral City Property for $1.9 Million
GRAN TIERRA: Fitch Rates Proposed $300MM Unsecured Notes 'B'
GREEN DOT: Fitch Cuts Rating on $7MM 2011A Bonds to 'BB+'
H-FOOD HOLDINGS: S&P Raises Sr. Sec. First-Lien Debt Rating to 'B'
HAAKINSON INC: Seeks to Hire Stokes Law as Bankruptcy Counsel

HELIX TCS: Insufficient Cash Casts Going Concern Doubt
HEXION HOLDINGS: Milbank, Morris Represent Crossholder Group
HEXION HOLDINGS: Plan Confirmation Hearing Set for June 24
HEXION INC: Unsecureds Creditors to be Paid in Full Under Plan
INVENERGY THERMAL: S&P Places 'BB' Sr. Debt Rating on Watch Dev.

JAGGED PEAK: S&P Affirms 'B' ICR on Higher Proved Reserves
JAGUAR HEALTH: Refinances $10.5 Million of Secured Debt
JAGUAR HEALTH: Sagard Capital Reports 31.9% Stake as of May 28
JAMES SKEFOS: Prescott Buying Memphis Property for $350K
JAMES SKEFOS: Resendiz Buying Memphis Property for $140K

JONES ENERGY: Davis Polk Advises Noteholders in Chapter 11 Case
KATHLEEN CAMPBELL: Selling Indiana Real Estate for $2 Million
KAYA HOLDINGS: Has $4.2-Mil. Net Income for Quarter Ended March 31
KHRL GROUP: Seeks to Hire Bayne Snell as Special Counsel
MAXAR TECHNOLOGIES: Moody's Lowers Corp. Family Rating to B2

MISSISSIPPI MINERALS: Seeks to Hire Quattlebaum Grooms as Counsel
NASHVILLE PHARMACY: Seeks to Extend Exclusivity Period to Sept. 3
NICHOLS BROTHER: $316K Sale of Oil/Gas Interests to Bud Oil Okayed
NORTHERN DYNASTY: Needs More Financing to Remain as Going Concern
O'BENCO IV: Case Summary & 16 Unsecured Creditors

ONE WORLD: Seeks More Capital Sources to Continue as Going Concern
ORIGINCLEAR INC: Has $331K Net Loss at Quarter Ended March 31
OUTERSTUFF LLC: Moody's Cuts CFR to B2, Outlook Rating Under Review
PALM BEACH: Moody's Rates $40.45-Mil. 2019A/B Bonds 'Ba1'
PHOENIX LIFE: Needs Significant Cash to Continue as Going Concern

PHYLLIS HANEY: $168K Sale of Two Beaver Parcels to Frye Approved
PLASTIC2OIL INC: Incurs $2.8 Million Net Loss in 2018
PLATINUM GROUP: Needs More Funding to Continue as Going Concern
POET TECHNOLOGIES: Insufficient Cash Casts Going Concern Doubt
PROJECT ACCELERATE: Moody's Cuts First Lien Debt Rating to B3

R&J LIMITED: $935K Sale of Long Beach Property to Perry Approved
REPLICEL LIFE: Requires More Funding to Continue as Going Concern
RICHARD SOLBERG: Trustee's $190K Sale of 288-Acre Land to AXA OK'd
RIVERA FAMILY: $1.2M Sale of Onalaska Property to BLP Approved
ROBERT STEWART INC: Case Summary & Unsecured Creditor

SCOOBEEZ INC: Committee Taps Levene Neale as Bankruptcy Counsel
SEELOS THERAPEUTICS: Needs More Financing to Remain Going Concern
SOFTWARE OPS: Case Summary & 6 Unsecured Creditors
STANDARD RUBBER: Case Summary & 20 Largest Unsecured Creditors
STRATEGIC ENVIRONMENTAL: Recurring Losses Cast Going Concern Doubt

SUN PACIFIC: Seeks More Capital Sources to Continue Going Concern
TEARDROPPERS: Anticipated Future Losses Cast Going Concern Doubt
TEMPNOLOGY LLC: Trademark License Can't Be Revoked in Bankruptcy
ULTRA PETROLEUM: Chief Accounting Officer Tenders Resignation
ULTRA PETROLEUM: Further Extends Tender Offer Deadlines

ULTRA PETROLEUM: Provides Operational Update
US RENAL: Moody's Assigns B3 CFR, Outlook Stable
VANGUARD NATURAL: Marathon, et al., Hold $23MM of Term Loans
VIDEO DISPLAY: Hancock Askew & Co. Raises Going Concern Doubt
WATERBRIDGE MIDSTREAM: Moody's Assigns B1 CFR, Outlook Stable

YEAMAN MACHINE: $380K Sale of Business to YMT Approved
ZACKY & SONS: June 10 Reopened Auction of 19 Properties Set
[*] McKinsey Proposes New Bankruptcy Disclosure Protocol

                            *********

1 GLOBAL CAPITAL: Seeks to Hire Epiq as Administrative Advisor
--------------------------------------------------------------
1 Global Capital, LLC seeks authority from the U.S. Bankruptcy
Court for the Southern District of Florida to hire Epiq Corporate
Restructuring, LLC as administrative agent.

The firm will provide bankruptcy administrative services, which
include the solicitation of votes in case the company and its
affiliates file a Chapter 11 plan; preparation of an official
ballot certification in support of the ballot tabulation results;
and managing distributions under the plan.

Epiq's hourly rates are:

     Clerical/Administrative Support         $25 – $45
     IT / Programming                        $65 – $85
     Case Managers                           $70 – $165
     Consultants/ Directors/Vice Presidents  $160 – $190
     Solicitation Consultant                 $190
     Executive Vice President, Solicitation  $215
     Executives                              No Charge

Brian Karpuk, director of Epiq's Consulting Services, attests that
his firm is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Brian Karpuk
     Epiq Corporate Restructuring, LLC
     777 Third Ave., 12th Floor
     New York, NY 10017
     Tel: (646)282-2595

                About 1 Global Capital

1 Global Capital, LLC -- https://1stglobalcapital.com/ -- is a
direct small business funder offering an array of flexible funding
solutions, specializing in unsecured business funding and merchant
cash advances.

Based in Hallandale Beach, Fla., 1 Global Capital and its
debtor-affiliates sought Chapter 11 protection (Bankr. S.D. Fla.
Lead Case No. 18-19121) on July 27, 2018.  In the petition signed
by Steven A. Schwartz and Darice Lang, authorized signatories, 1st
Global Capital estimated $100 million to $500 million in assets and
liabilities as of the bankruptcy filing.  

The Hon. Raymond B. Ray oversees the cases.  

Greenberg Traurig LLP, led by Paul J. Keenan Jr., Esq., serves as
the Debtors' bankruptcy counsel.  Epiq Corporate Restructuring, LLC
is the Debtors' claims and noticing agent.

The U.S. Trustee for Region 21 appointed an official committee of
unsecured creditors on Sept. 7, 2018.  The committee tapped
Stichter, Riedel, Blain & Postler, P.A. as its legal counsel; and
Conway MacKenzie, Inc. and Dundon Advisers, LLC as its financial
advisors.


1400 NORTHSIDE: Seeks to Hire Paul Reece as Legal Counsel
---------------------------------------------------------
1400 Northside Drive, Inc. and Cummins Beveridge Jones II the
company's chief executive officer, received approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire Paul
Reece Marr, P.C. as their legal counsel.

The firm will advise the Debtors of their powers and duties in the
continued operation and management of their affairs and will
provide other legal services in connection with their Chapter 11
cases.

Paul Reece will be paid at these hourly rates:

     Attorneys                    $350
     Paralegals                $50 to $125

The firm will also receive reimbursement for work-related expenses
incurred.

Paul Reece Marr, Esq., the firm's founding partner, assured the
court that his 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 firm can be reached at:

         Paul Reece Marr, Esq.
         Paul Reece Marr, P.C.
         300 Galleria Parkway, N.W., Suite 960
         Atlanta, GA 30339
         Tel: (770) 984-2255

                About 1400 Northside Drive Inc.

1400 Northside Drive, Inc. owns and operates a male strip club
known as Swinging Richards.

1400 Northside Drive filed a voluntary Chapter 11 petition (Bankr.
N.D. Ga. Case No. 19-56846) on May 2, 2019.  The case is jointly
administered with the Chapter 11 case (Bankr. N.D. Ga. Case No.
19-20853) filed by Cummins Beveridge Jones II, the Debtor's chief
executive officer and chief financial officer.    

At the time of the filing, 1400 Northside Drive estimated $50,000
to $100,000 in assets and $1 million to $10 million in
liabilities.

Paul Reece Marr, Esq. at Paul Reece Marr, P.C., represents the
Debtors as counsel.


AAC HOLDINGS: Hires Cantor Fitzgerald as Financial Advisor
----------------------------------------------------------
AAC Holdings, Inc., has formally engaged the investment banking
firm Cantor Fitzgerald & Co. as its exclusive financial advisor
with respect to potential strategic corporate transactions
involving the Company's real estate and other assets, as well as
potential recapitalization or refinancing transactions.

"We are committed to improving the company's balance sheet and
liquidity position and are fortunate to have diverse assets that
will allow us to discuss multiple transaction alternatives with
interested parties," said AAC's Chairman and CEO Michael
Cartwright."

Earlier this year, AAC closed a $30 million incremental term loan.
The Company had previously announced its intent to explore
strategic transactions including those involving the Company's real
estate.

                      About AAC Holdings

Headquartered in Brentwood, Tennessee, AAC Holdings, Inc. --
http://www.americanaddictioncenters.com/-- is a provider of
inpatient and outpatient substance use treatment services for
individuals with drug addiction, alcohol addiction and co-occurring
mental/behavioral health issues.  In connection with its treatment
services, the Company performs clinical diagnostic laboratory
services and provide physician services to its clients.  As of Dec.
31, 2018, the Company operated 11 inpatient substance abuse
treatment facilities located throughout the United States, focused
on delivering effective clinical care and treatment solutions
across 1,080 inpatient beds, including 700 licensed detoxification
beds, 24 standalone outpatient centers and 4 sober living
facilities across 471 beds for a total of 1,551 combined inpatient
and sober living beds.

AAC Holdings reported a net loss of $66.71 million for the year
ended Dec. 31, 2018, compared to a net loss of $17.38 million for
the year ended Dec. 31, 2017.  As of Dec. 31, 2018, AAC Holdings
had $452.27 million in total assets, $410 million in total
liabilities, and total stockholders' equity including
non-controlling interest of $42.27 million.

BDO USA, LLP, in Nashville, Tennessee, the Company's auditor since
2011, issued a "going concern" qualification in its report dated
April 12, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
incurred a loss from operations and negative cash flows from
operations that raise substantial doubt about its ability to
continue as a going concern.

                           *    *    *

As reported by the TCR on March 19, 2019, S&P Global Ratings
lowered the issuer credit rating on AAC Holdings Inc. to 'CCC' from
'B-' and said the outlook is negative.  According to S&P, the
downgrade reflects escalated risk of a default and risk that AAC's
liquidity will not be sufficient over the next 12 months, primarily
due to the $30 million term loan maturing in about one year.

Moody's Investors Service downgraded the corporate family rating
rating of AAC Holdings, parent company of American Addiction
Centers, Inc., to 'Caa2' from 'B3'.  The downgrade to 'Caa2'
reflects AAC's very weak third quarter results and lower guidance
for the rest of 2018.


ALPINE 4 TECHNOLOGIES: Subsidiary Secures $4.5M in Production Work
------------------------------------------------------------------
Alpine 4 Technologies' subsidiary Morris Sheet Metal Corp (MSM)
said it has secured an additional $4.5 million in new production
work for 2019.  MSM has provided mechanical contracting services to
its customers across the US since 1998.

Tom Laubhan VP of Operations MSM had this to say," Morris Sheet
Metal and JTD Spiral have progressed in their Alpine 4 optimization
plan and expect to see a 35% increase in revenue over 2018.  In the
first five months of 2019 we have secured over 4.5 million in
additional contracts.  We anticipate a strong 2020 with many new
projects in development."

                   About Alpine 4 Technologies

Alpine 4 Technologies Ltd. is a holding company that owns five
operating subsidiaries: ALTIA, LLC; Quality Circuit Assembly, Inc.;
American Precision Fabricators, Inc.; Morris Sheet Metal, Corp; and
JTD Spiral, Inc.  Alpine 4 is a technology company that primarily
provides electronic contract manufacturing solutions in the Unites
states.

The report from the Company's independent accounting firm
MaloneBailey, LLP on the consolidated financial statements for the
year ended Dec. 31, 2018, includes an explanatory paragraph stating
that the Company has suffered recurring losses from operations and
has a net capital deficiency that raises substantial doubt about
its ability to continue as a going concern.

The Company reported a net loss of $7.90 million in 2018 following
a net loss of $2.99 million in 2017.  As of March 31, 2019, Alpine
4 had $26.81 million in total assets, $37.27 million in total
liabilities, and a total stockholders' deficit of $10.45 million.


AMERICAN TECHNICAL: Seeks to Hire David W. Steen as Special Counsel
-------------------------------------------------------------------
American Technical Services, Inc. seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire David
W. Steen, P.A. as its special counsel.

The firm will assist the Debtor with regard to the contested issues
surrounding the confirmation of its proposed plan of reorganization
and the competing plan filed by Ecker Capital, LLC.  Steen will
charge $500 per hour for its services.

David Steen, Esq., disclosed in a court filing that no attorney in
his firm represents any interest adverse to the Debtor or its
bankruptcy estate.

The firm can be reached through:

     David W. Steen, Esq.
     David W. Steen, P.A.
     2901 W. Busch Boulevard, Suite 311
     Tampa, FL 33618
     Tel No: (813) 251-3000
     E-mail: dwsteen@dsteenpa.com

                About American Technical Services

American Technical Services, Inc. sought protection under Chapter
11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-08783) on
Oct. 12, 2018.  At the time of the filing, the Debtor estimated
assets of less than $50,000 and liabilities of less than $500,000.
The Debtor tapped Palm Harbor Law Group as its legal counsel.

On April 3, 2019, the Debtor filed a Chapter 11 plan of
reorganization, which provides that all of its creditors will be
paid in full within 42 months of confirmation of the plan.


ARCIMOTO INC: Will Develop Next-Gen Fleet Of Fun Utility Vehicles
-----------------------------------------------------------------
Arcimoto, Inc., said it will develop a next-gen fleet of FUVs with
GoCar Tours for GPS-guided tours of San Francisco.

An initial order of 40 FUVs will be outfitted with GoCar's patented
GoCar Network technology, which allows users to explore the city on
their own schedule at their own pace.  The GoCar's mobile tour
guide, the world's first GPS-guided tour, will give directions,
crack jokes, recommend restaurants, and tell the legendary stories
that bring San Francisco to life.

"We're thrilled to work with GoCars to introduce the Fun Utility
Vehicle to San Francisco, the technology capital of the world,"
said Mark Frohnmayer, founder and CEO of Arcimoto.  "A GoCar Tour
is a perfect use-case for an Arcimoto.  The vehicle's small
footprint and nimble handling make maneuvering and parking in urban
environments a pleasant experience, and the open vehicle
architecture provides expansive visibility of the City's iconic
sights.  Personally, I can't imagine a more beautiful way to take
in San Francisco than a sunset cruise across the Golden Gate Bridge
while driving the pure electric Fun Utility Vehicle."

Nathan Withrington, founder of GoCar Tours, said: "Ever since we
founded GoCars in 2004, we've been searching for an electric
vehicle that met our needs.  We want people to experience a new
kind of electric vehicle - efficient, affordable and fun - that
represents the core values of GoCars, which is to provide an always
unique, user-driven experience, where the vehicle is your friend
that guides you through the City.  Next to our existing gas-powered
fleet, we expect to save significantly on maintenance and fuel
costs, while increasing rentals on bad-weather days thanks to the
FUV's windshield and panoramic roof.  Finally, the FUV can drive on
both streets and highways, so for the first time in our history,
our customers will be able to drive across our most iconic
landmark, the Golden Gate Bridge, from the comfort of an FUV.  We
can't wait to start exploring."

                         Arcimoto, Inc.

Headquartered in Eugene, Oregon, Arcimoto, Inc. (NASDAQ: FUV) --
http://www.arcimoto.com/-- is devising new technologies and
patterns of mobility that together raise the bar for environmental
efficiency, footprint and affordability.  Available for pre-order
today, Arcimoto's Fun Utility Vehicle, Rapid Responder, and
Deliverator are some of the lightest, most affordable, and most
appropriate electric vehicles suitable for everyday transport.

Arcimoto reported a net loss of $11.05 million for the year ended
Dec. 31, 2018, compared to a net loss of $3.31 million for the year
ended Dec. 31, 2017.  As of March 31, 2019, the Company had $15.32
million in total assets, $6.21 million in total liabilities, and
$9.10 million in total stockholders' equity.

In its report dated March 29, 2019, on the Company's consolidated
financial statements for the year ended Dec. 31, 2018, dbbmckennon,
in Newport Beach, California, the Company's auditor since 2016,
expressed substantial doubt about the Company's ability to continue
as a going concern.  The auditor noted that Arcimoto has not
achieved positive earnings and operating cash flows from its
intended operations.


ASTRIA HEALTH: Seeks to Hire Kurtzman Carson as Noticing Agent
--------------------------------------------------------------
Astria Health seeks authority from the U.S. Bankruptcy Court for
the Eastern District of Washington to hire Kurtzman Carson
Consultants LLC as its noticing agent.

The firm will oversee the distribution of notices in connection
with the Chapter 11 cases filed by Astria Health and its
affiliates.  Kurtzman's hourly fees are:

   Analyst                                        $25.50 - $42.50
   Technology/Programming Consultant              $29.75 - $59.75
   Consultants                                    $55.25 - $165.25
   Securities Director/Solicitation Consultant    $165.75
   Securities Senior Director/Solicitation Lead   $182.75

Evan Gershbein, senior vice president of Kurtzman's Corporate
Restructuring Services, disclosed in a court filing that the firm
is "disinterested" as defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Evan Gershbein
     Kurtzman Carson Consultants LLC
     2335 Alaska Avenue
     El Segundo, CA 90245
     Tel: (310) 823-9000

               About Astria Health

Astria Health and its subsidiaries -- https://www.astria.health --
are a nonprofit health care system providing medical services to
patients who generally reside in Yakima County and Benton County,
Washington through the operation of Sunnyside, Yakima, and
Toppenish hospitals, as well as several health clinics, home health
services, and other healthcare services.  Collectively, they have
315 licensed beds, three active emergency rooms, and a host of
medical specialties.  The Debtors have 1,547 regular employees.  

Astria Health and 12 of its subsidiaries filed for bankruptcy
protection (Bankr. E.D.Wash, Lead Case No. 19-01189) on May 6,
2019.  In the petitions signed by John Gallagher, president and
chief executive officer, the Debtors estimated assets and
liabilities of $100 million to $500 million.

The Hon. Frank L. Kurtz oversees the cases.

Bush Kornfeld LLP and Dentons US LLP serve as the Debtors' counsel.
Kurtzman Carson Consultants, LLC, is the claims and noticing agent.


AUSTEX OIL: Case Summary & 7 Unsecured Creditors
------------------------------------------------
Lead Debtor: AusTex Oil Limited
             Level 5, 126 Phillip Street
             Sydney
             Nsw 2000 Australia

Business Description: AusTex Oil, Ltd., is a publicly traded
                      independent oil and gas company listed on
                      the Australian Securities Exchange under the
                      symbol "AOK."  Although AusTex Oil is
                      an Australian listed entity, the Company
                      operates exclusively through its United
                      States subsidiary debtors, each of which is
                      headquartered in the United States, and
                      maintains offices in Tulsa, Oklahoma.

Chapter 11 Petition Date: June 3, 2019

Eight affiliates that simultaneously filed voluntary petitions
seeking relief under Chapter 11 of the Bankruptcy Code:

      Debtor                                         Case No.
      ------                                         --------
      AusTex Oil Limited (Lead Case)                 19-11138
      AusTex HoldCo, LLC                             19-11139
      International Energy Holding Company, LLC      19-11140
      International Energy, LLC                      19-11141
      International Energy Company, LLC              19-11142
      International Energy Corporation               19-11143
      International Properties Partners, LLC         19-11144
      International Oil & Gas, LLC                   19-11145

Court: United States Bankruptcy Court
       Northern District of Oklahoma (Tulsa)

Debtors' Counsel: Gary M. McDonald, Esq.
                  Chad J. Kutmas, Esq.
                  Mary E. Kindelt, Esq.
                  MCDONALD & METCALF, LLP
                  First Place Tower
                  15 E. Fifth Street, Suite 1400
                  Tulsa, OK 74103
                  Tel: (918) 430-3700
                  Fax: (918) 430-3770
                  E-mail: gmcdonald@mmmsk.com
                          ckutmas@mmmsk.com
                          mkindelt@mmmsk.com

AusTex Oil's Total Assets: $56,116,157

AusTex Oil's Total Liabilities: $33,179,085

The petitions were signed by Richard A. Adrey, managing director.

A full-text copy of AusTex Oil's petition is available for free
at:

           http://bankrupt.com/misc/oknb19-11138.pdf

List of AusTex Oil's Seven Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. Australian                                              $1,303
Securities &
Investment Comm
Locked Bag 5000
Gippsland Mail
Centre Victoria 3841
Australia
Website: http://www.asic.gov.au/invoices
Tel: 1300 300 630

2. Boardroom Pty                      Trade Debt           $1,240
Limited
Level 12, 225
George Street
Sydney, NSW 2000
Australia
Tel: +61 (2) 9290 9600
Email: accounts@boardroomlimited.com.au

3. Eureka Teleconferencing            Trade Debt               $66
Pty Ltd
Level 29, Chifley Plaza
Chifley Tower 2 Sq
Sydney NSW 2000 Australia
Tel: +61 (2) 9009 0854
Email: accounts@teleconference.com.au

4. Gilbert & Tobin                    Professional             $54
Attorneys at Law                          Fees
200 Barangaroo Avenue
Barangaroo NSW
2000 Australia
Tel: +61 (2) 9009 0854
Email: gtinvoice@gtlaw.com.au

5. OTC Markets Group, Inc.              Trade Debt         $28,865
304 Hudson Street, 2nd Floor
New York, NY 10013-1015
Tel: 212-896-4405
Email: otcmarketsgroupbilling@otcmarkets.com

6. Puglisi & Asociates                 Professional         $1,731
Attn: Gregory Lavelle                      Fees
850 Library Avenue, Suite 204
Newark, DE 19711
Tel: 302-738-6680
Email: glavelle@puglisiassoc.com

7. Servcorp Sydney                       Trade Debt           $480
Virtual Pty LTD
MLC Centre Suite 1
Level 19
19-29 Martin Pl
Sydney NSW 2000
Australia
Tel: +61 (2) 9238 7611
Website: http://www.servcorp.com.au


AVEANNA HEALTHCARE: S&P Affirms 'B-' Issuer Credit Rating
---------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Aveanna Healthcare LLC.

The rating affirmation follows the company's $1.16 billion
acquisition of Maxim Health Service, Inc.'s home care services
division (Maxim), which was partially funded with $765 million in
new debt, consisting of $520 million in additional first-lien debt
and $245 million in additional second-lien debt.

S&P assigned its preliminary 'CCC' issue-level rating to the
proposed $245 million second-lien term loan, which it expects to be
added to the existing $240 second-lien term loan at transaction
close. The recovery rating is '6', indicating S&P's expectation for
negligible (0%-10%; rounded estimate: 0%) recovery in the event of
a payment default.

"Our rating affirmation reflects Aveanna's increased size, scale,
and business diversity following the Maxim acquisition, offset by
the high leverage of 7.8x in 2020 and our expectation of only
modest discretionary cash flow," S&P said.  

S&P expressed belief the Maxim transaction will diversify Aveanna's
business, reducing its Texas exposure to 18% of revenue (from 29%)
while increasing it presence to 34 states (from 23). However, the
company has a limited operating history, narrow operating focus in
a highly competitive industry, and significant government
reimbursement concentration, according to the rating agency.

"Medicaid and Medicare reimbursement remains very high at 69% and
11%, respectively. We view the company's significant exposure to
government reimbursement as a major risk as we see ongoing pressure
to contain health care spending," S&P said. "Though reimbursement
rates for Aveanna's pediatric services are typically stable, the
company has experienced several reimbursement cuts in other therapy
areas, including sizable cuts in Texas, in recent years."

The negative rating outlook on Aveanna reflects S&P's view that the
company's very high leverage, combined with execution risks, leaves
little room for error as the company seeks to improve EBITDA such
that the company can generate sustained positive discretionary cash
flow. These risks are related to the integration of recent and
pending acquisitions, the challenging reimbursement environment,
and significant exposure to government payers.

"We could consider a downgrade if the company encounters prolonged
integration issues and fails to improve its margins and cash flows.
We could also lower the rating should the company's leverage remain
very high," S&P said. The rating agency said large cut to Medicaid
reimbursement that results in adjusted EBITDA margins remaining
below 8%, a level at which it believes the company would sustain
cash flow deficits, could also lead to a lower rating.

"We could revise the outlook to stable if the company successfully
integrates the Maxim acquisition and shows a commitment to
maintaining leverage below 9x and positive free cash flow in 2020
and beyond," S&P said.


BEAUTIFUL BROWS: Trustee's $285K Sale of Personal Property Approved
-------------------------------------------------------------------
Judge Jeffery W. Cavender of the U.S. Bankruptcy Court for the
Northern District of Georgia authorized S. Gregory Hays, the
Chapter 11 Trustee of Beautiful Brows, LLC, to sell the Debtor's
personal property to Minal Patel and Magan Patel for $285,000.

A hearing on the Motion was held on May 30, 2019.

The personal property is comprised of (i) all of the Company's
inventory, including raw- materials, work in progress, orders in
process, and finished products, if any, (ii) all of the Company's
furniture, fixtures, and equipment, (iii) the Company's telephone
numbers, Internet and social media marketing accounts, and (iv) the
Company's trade name(s) in all such personal property.

The sale is free and clear of all liens, claims, encumbrances and
interests, with any valid and enforceable liens attaching to the
net sale proceeds.

The Trustee is authorized to pay Southeastern Business
Intermediaries, LLC a 6% commission in the amount of $17,100.

The Trustee's motion to assume and assign the Debtor's lease with
CBL & Associates Management, Inc. for a retail store at Arbor Place
Mall in Douglasville, Georgia is granted subject to these
conditions:

     (a) The Trustee will make a payment to CBL in the amount of
$34,962 as required by 11 U.S.C. Section 365(b)(1)(A) & (B) within
five days ofthe closing of the sale;

     (b) The Trustee will assign the CBL Lease to Guru Hari Salon,
LLC concurrently with the closing of the sale; and

     (c) Minal Patel and Magan Patel will each execute and deliver
a personal guaranty to CBL within 14 days of the closing of the
sale.

The Trustee's motion to assume and assign the Debtor's lease with
Simon for a retail store at the Mall of Georgia in Buford, Georgia
is granted subject to these conditions:

     (a) The Trustee will make a payment to Simon in the amount of
$22,068 as required by 11 U.S.C. Section 365(b)(1)(A) & (B) within
five days of the closing of the sale;

     (b) The Trustee will assign the Simon Lease to Nilkanth Salon,
LLC concurrently with the closing of the sale, and Minal Patel will
execute, on behalf of Nilkanth, an amendment to the Simon Lease to
reflect the assignment of the Simon Lease to Nilkanth.

     (c) Minal Patel, Magan Patel, and Hitesh Patel will each
execute and deliver a personal guaranty to Simon within 14 days of
the closing of the sale; and

     (d) Shakuntala Patel will execute and deliver a one-year
personal guaranty to Simon within 14 days of the closing of the
sale.

The Trustee is authorized to make certain distributions as needed
in order to facilitate the transfer of the Debtor's operations to
the Buyer effective June 1, 2019, including, but not limited to,
the payment of funds from credit and debit card transactions
completed after May 31, 2019 that will be deposited into the
Debtor's merchant account; and payment of the Debtor's employees
for work completed through the May 31, 2019 payroll period.

The Fed. R. Bankr. P. 6004(h) will not apply to the Order, which
will be effective immediately so that the Trustee may proceed
instanter with the sale, at which time the gross sales proceeds
will be paid to the Trustee pursuant to the Order.

                    About Beautiful Brows

Beautiful Brows LLC, based in Tucker, Georgia, primarily operates
in the skin care business within the personal services industry.
Beautiful Brows, filed a Chapter 11 petition (Bankr. N.D. Ga. Case
No. 18-66766) on Oct. 3, 2018.  In the petition signed by Saleema
Delawalla (f/k/a Fnu Saleema), member, the Debtor estimated
$100,000 to $500,000 in assets and $1 million to $10 million in
liabilities. Jason L. Pettie, Esq., at Jason L. Pettie, P.C.,
serves as bankruptcy counsel.

The case is assigned to Judge Jeffery W. Cavender.

S. Gregory Hays was appointed as the Debtor's Chapter 11 trustee.
The trustee tapped Hays Financial Consulting, LLC as his
accountant; and Bullseye Auction & Appraisal, LLC, for the
marketing and sale of the Debtor's personal properties.


BRAZOS PERMIAN II: S&P Assigns 'B-' ICR; Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to Brazos
Permian II LLC (Brazos). The outlook is stable.

At the same time, S&P lowered its issue-level rating on Brazos
Delaware II LLC's senior secured term loan B ($875 million
outstanding balance) to 'B-' from 'B'. The '3' recovery rating is
unchanged, indicating S&P's expectation for meaningful (50%-70%;
rounded estimate: 60%) recovery in the event of a payment default.

S&P also lowered its issuer credit rating on Brazos Midstream
Holdings II LLC to 'B-' from 'B'. The rating agency subsequently
withdrew the 'B-' issuer credit rating on the company since it was
replaced by Brazos Permian II as the debt guarantor of Brazos
Delaware II's debt. At the time of the withdrawal, the rating
outlook on the company was stable.

"The lowering of our rating on Brazos Delaware II LLC's senior
secured term loan B to 'B-' from 'B' reflects our view that, due to
a slower than previously anticipated increase in throughput
volumes, Brazos' capital structure will remain highly leveraged,
with a debt-to-EBITDA ratio of above 9x in 2019," S&P said, adding
that the company's 2018 financial performance was significantly
weaker than expected due to slower pad development, upstream
facility bottlenecks, and NGL downstream capacity constraints.

"Although the rig count growth in Brazos' dedicated acres was in
line with our expectations, the number of well-connections was low
in comparison," the rating agency said.

The stable outlook reflects S&P's expectation that Brazos Permian
II will maintain a debt-to-EBITDA ratio of above 9x in 2019,
declining to above 6.5x in 2020. The rating agency's leverage
forecast for the next 24 months reflects lower than previously
expected throughput volumes. S&P anticipates that the company will
continue building out its infrastructure in the Permian Basin,
which should gradually reduce the leverage ratio.

"We could lower our rating on Brazos Permian II if the company's
capital structure became unsustainable and liquidity deterioration
threatened its ability to service its debt. This could happen due
to continued underperformance of throughput volumes or high
operating expenses and capital expenditures," S&P said.

"We could consider a positive rating action if Brazos maintained a
debt-to-EBITDA ratio of below 6.0x while increasing its size and
scale via an increase in throughput volumes," S&P said.


BROWNLEE FARM: Seeks to Hire Allen Pritchett as Accountant
----------------------------------------------------------
Brownlee Farm Center, Inc. seeks authority from the U.S. Bankruptcy
Court for the Middle District of Georgia to hire Allen Pritchett &
Bassett, LLP as its accountant.

The services to be provided by the firm include the preparation of
documents required for the Debtor's 2017 and 2018 tax returns, and
bookkeeping assistance.  Joseph Manning Sr., partner and member of
Allen Pritchett, will be the lead accountant.

Mr. Manning assures the court that his firm neither represents nor
holds any interest adverse to the Debtor and its bankruptcy
estate.

The firm can be reached at:

     Joseph A. Manning, Sr.
     Allen Pritchett & Bassett, LLP
     405 Tift Avenue North, Suite B
     P.O. Box 349
     Tifton, GA 31794
     Phone: 229-382-6960
     Fax: 229-382-6992

            About Brownlee Farm

Brownlee Farm Center, Inc. and Gypsum Supply Company, Inc. buy and
sell various agricultural products, principally gypsum and
fertilizer, from and to dealers in Georgia, Florida, and Alabama.
They are also engaged in the building rental business.  

Brownlee Farm Center and Gypsum Supply filed voluntary Chapter 11
petitions (Bankr. M.D. Ga. Lead Case No. 18-71300) on Oct. 29,
2018.  At the time of the filing, each Debtor had estimated assets
of less than $1 million and liabilities of between $1 million and
$10 million.   

Ward Stone, Jr., Esq., at Stone & Baxter, LLP, represents the
Debtors.    


CALMARE THERAPEUTICS: Court Denies GEOMC's Rehearing Request
------------------------------------------------------------
The United States Court of Appeals for the Second Circuit denied on
May 28, 2019, a petition for panel rehearing filed by GEOMC Co.,
Ltd. in connection with a complaint against Calmare Therapeutics
Incorporated in the U.S. District Court for the District of
Connecticut.

As set forth in Calmare's Form 10-K for the fiscal year ended Dec.
31, 2016, on Aug. 22, 2014, GEOMC filed a complaint against the
Company in the U.S. District Court for the District of Connecticut.
The complaint alleges that the Company and GEOMC entered into a
security agreement whereby in exchange for GEOMC's sale and
delivery of the Scrambler Therapy devices, the Company would grant
GEOMC a security interest in the Devices.  Among other allegations,
GEOMC claims that the Company has failed to comply with the terms
of the security agreement and seeks an order to the Court to
replevy the Devices or collect damages.  

On Sept. 29, 2017, the District Court entered a final judgment that
awarded GEOMC, among other relief, monetary damages of $4,673,406,
in addition to pre-judgment interest of $5,678,764, with both
amounts totaling $10,352,170.  Calmare appealed the judgment to the
United States Court of Appeals for the Second Circuit.

On March 12, 2019, the United States Court of Appeals for the
Second Circuit vacated the District Court's judgment and remanded
the case to the District Court for further proceedings.

                   About Calmare Therapeutics

Calmare Therapeutics Incorporated, formerly known as Competitive
Technologies, Inc. -- http://www.calmaretherapeutics.com--
researches, develops and commercializes chronic, neuropathic pain
and wound affliction devices.  The Company's flagship medical
device -- the Calmare Pain Therapy Device -- is a non-invasive and
non-addictive modality that can successfully treat chronic,
neuropathic pain.  The Company holds a U.S. Food & Drug
Administration 510k clearance designation on its flagship device,
which grants it the exclusive right to sell, market, research and
develop the medical device in the United States.  The Calmare
Devices are commercially sold to medical practices throughout the
world.  They are also found in U.S. military hospitals, clinics and
on installations.

Mayer Hoffman McCann CPAs, issued a "going concern" opinion in its
report on the consolidated financial statements for the year ended
Dec. 31, 2016, noting that the Company has incurred operating
losses since fiscal year 2006 and has a working capital and
shareholders' deficit at Dec. 31, 2016.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.

Calmare reported a net loss of $3.82 million for the year ended
Dec. 31, 2016, compared to a net loss of $3.67 million for the year
ended Dec. 31, 2015.  As of Dec. 31, 2016, Calmare had $3.88
million in total assets, $17.69 million in current total
liabilities and a total shareholders' deficit of $13.81 million.


COX LAND: Seeks to Hire Balch & Bingham as Special Counsel
----------------------------------------------------------
Cox Land & Timber, Inc. seeks authority from the U.S. Bankruptcy
Court for the Northern District of Georgia to hire Balch & Bingham,
LLP.

The firm will serve as special counsel for Cox Land and John Cox,
the company's president and chief executive officer.  Balch &
Bingham will represent both Debtors in litigations including a
civil case (Civil Action No. 18 CV 69326) filed in the Superior
Court of Bibb County by David Cooke, Jr., the District Attorney for
the Macon Judicial Circuit.

The firm's hourly rates are:

     Michael Bowers           $660
     Christopher Anulewicz    $525
     Lorna Norton             $380
     Jonathan DeLuca          $255
     Paralegals               $165 to $185

Michael Bowers, Esq., a partner at Balch & Bingham, attests that
neither the firm nor its attorneys hold or represent interests that
are adverse to the Debtors and their estates.

The firm can be reached through:

     Michael J. Bowers, Esq.
     Balch & Bingham, LLP
     1901 Sixth Ave. North, Suite 1500
     Birmingham, AL
     Phone: (205) 251-8100

             About Cox Land & Timber

Cox Land & Timber, Inc., is a timber company based in Pike County,
Ga.  It appraises timber to determine its value, harvests and buys
timber, and offers cutting and thinning services.

Cox Land & Timber filed a Chapter 11 petition (Bankr. N.D. Ga. Case
No. 18-12425) on Nov. 21, 2018.  In the petition signed by John B.
Cox, president and chief executive officer, the Debtor estimated
between $1 million and $10 million in assets and less than $50,000
in liabilities.  The case is jointly administered with Mr. Cox's
Chapter 11 case (Bankr. N.D. Ga. Case No. 18-12424).

The Hon. Homer W. Drake is the case judge.  The Debtors tapped
Stone & Baxter, LLP as their bankruptcy counsel and C. Brian
Jarrard, LLC as their special counsel.

Victor Hartman was appointed as examiner.  Baker, Donelson,
Bearman, Caldwell & Berkowitz, P.C. represents the examiner as
legal counsel.


CROSBY US: Moody's Hikes CFR to B3 & Alters Outlook to Stable
-------------------------------------------------------------
Moody's Investors Service upgraded the ratings of Crosby US
Acquisition Corp., including the Corporate Family Rating to B3 from
Caa1, the Probability of Default Rating to B3-PD from Caa1-PD and
the existing first and second lien debt ratings to B2 and Caa2,
respectively, from Caa1 and Caa3. Separately, Moody's assigned a B3
rating to the company's proposed senior secured first lien
facilities, including a revolving credit facility due in 2024 and a
term loan due in 2026. Moody's also changed Crosby's outlook to
stable from positive.

Proceeds of the new $625 million first lien term loan will be used
to refinance the company's existing first and second lien
facilities due in 2020 and 2021. The ratings on the existing first
and second lien debt will be withdrawn upon close of the
refinancing transaction. The debt refinancing is occurring
concurrent with Crosby's acquisition of Sweden-headquartered
Gunnebo Industrier Holding AB, a manufacturer of components for
industrial lifting and rigging applications. The acquisition will
be fully funded with equity from sponsor Kohlberg Kravis Roberts &
Co. L.P.

RATINGS RATIONALE

The CFR upgrade recognizes the sustained improvement in operating
performance that Moody's expects to continue over the next year,
benefiting from positive fundamentals in key end markets in
industrial manufacturing, construction and land-based oil & gas,
and from improved production efficiencies. This should support
moderately better credit metrics, including debt/EBITDA leverage
that falls towards the mid 5x level through 2020 from the mid 6x
range pro forma (Moody's adjusted). The upgrade is supported by no
near term debt maturities, which will be pushed out by the debt
refinancing to 2024, at the earliest, from 2020.

The B3 CFR reflects Crosby's high (albeit improved) financial
leverage and debt burden for its operating profile, given exposure
to cyclical and capital-intensive end markets, as well as
competitive pressures. Event risk remains elevated with private
equity ownership, including the potential for debt funded
acquisitions or shareholder returns that increase leverage. As
well, the fragmented and competitive nature of Crosby's markets
increases the likelihood of bolt-on acquisitions, which could be
funded with free cash flow or additional debt for sizeable targets,
constraining the credit metrics. The company is also exposed to
foreign exchange headwinds given about 40% of revenue is non-U.S.
These factors are tempered by the company's strong brand
recognition, global presence and diversification by product,
customer and end market. The Gunnebo acquisition, which adds market
breadth in lifting products, will increase Crosby's revenue scale
by roughly one third and penetration in Europe, with potential
synergies to be derived from areas such as facility and SG&A
consolidation. However, it also presents integration risk and the
product overlap is relatively high. Moody's expects Crosby to
sustain healthy EBITA margins in the low 20% range over the next
year, supported by positive demand fundamentals and cost savings
from ongoing lean initiatives. Margins will nonetheless remain
constrained in an environment of labor inflation and commodity cost
headwinds (primarily for steel), including the potential negative
effects of ongoing trade tensions and tariffs on market pricing.
The good liquidity profile, including expectations of positive free
cash flow of at least $20-$25 million, cash balances in excess of
$60 million and an undrawn new $70 million revolving credit
facility over the next 12-18 months, lends support to the rating.

The B3 rating assigned to the proposed first lien credit
facilities, at the same level as the CFR, reflects the
preponderance of this class of debt and Moody's expectation of
recovery in the liability structure. The ratings on the existing
debt facilities incorporate the impact of the CFR upgrade. As well,
the B2 rating on the first lien debt, one notch above the CFR,
reflects its senior priority of claim in the recovery waterfall and
the first loss position of the second lien term loan. The Caa2
rating on the second lien, two notches below the CFR, reflects the
subordination of the lien of this class of debt and its size in the
liability waterfall.

Moody's took the following rating actions on Crosby US Acquisition
Corp.:

Upgrades:

Corporate Family Rating, to B3 from Caa1

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

Senior secured first lien revolver due 2020, to B2 (LGD3) from
Caa1 (LGD3)

Senior secured first lien term loan due 2020, to B2 (LGD3) from
Caa1 (LGD3)

Senior secured second lien term loan due 2021, to Caa2 (LGD6)
from Caa3 (LGD6)

Assignments:

Senior secured first lien revolver due 2024, at B3 (LGD3)

Senior secured first lien term loan due 2026, at B3 (LGD3)

Outlook Actions:

Outlook changed to stable from positive

The stable outlook reflects expectations of at least mid-single
digit revenue growth and margin expansion over the next year,
supported by positive end market demand fundamentals that should
continue into 2020. Moody's also expects Crosby to maintain good
liquidity and metrics that continue to support the B3 CFR.

Downward ratings pressure could develop with deteriorating
liquidity, including a decline in free cash flow generation or a
reliance on revolver borrowings. If business conditions worsen and
lead to weaker than expected credit metrics, including
debt-to-EBITDA sustained at or above 6.5x, the ratings could be
downgraded. A more aggressive financial policy, including debt-fund
shareholder distributions or acquisitions that increase leverage,
would also exert downwards rating pressure.

The ratings could be upgraded with sustained improvement in
operating performance such that Moody's expects debt-to-EBITDA to
be sustained below 5x, EBIT-to-interest above 1.5x and maintenance
of good liquidity, including free cash flow to debt sustained at a
high single-digit level.

The principal methodology used in these ratings was Global
Manufacturing Companies published in June 2017.

Crosby US Acquisition Corp, a subsidiary of Crosby Worldwide Ltd,
is a manufacturer of highly-engineered lifting and rigging
equipment, as well as customized material handling solutions. The
company, based in Richardson, Texas, had annual revenues of
approximately $331 million as of the fiscal year ended December 31,
2018. Pro forma for the acquisition of Gunnebo Industrier Holdings
AB, revenues will approximate $445 million. Crosby is owned by
affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR).


CROSBY WORLDWIDE: S&P Alters Outlook to Pos., Affirms 'B-' ICR
--------------------------------------------------------------
S&P Global Ratings revised its outlook to positive from stable and
affirmed its 'B-' issuer credit rating on Crosby Worldwide Ltd.
(Crosby).

Crosby is entering into a $695 million transaction to refinance
existing debt in conjunction with its recent all-equity funded
acquisition of Gunnebo Industries Holding AB (Gunnebo).  Kohlberg
Kravis Roberts & Co. L.P. (KKR), the financial sponsor and current
owners of Crosby, will fund the transaction with a proposed $625
million first-lien term loan due 2026. It will also establish a new
$70 million revolving credit facility due 2024.

S&P assigned its 'B-' issue-level rating and '3' recovery rating to
the company's proposed revolving credit facility due 2024 and
first-lien term loan due 2026. The rating agency will withdraw its
issue-level ratings on the company's existing debt at the close of
the transaction.

"The outlook revision reflects our belief that improving conditions
in Crosby's end markets particularly its oil and gas markets,
combined with the benefits from its manufacturing improvements,
will support revenue growth in the high-single-digit percent area
over the next 12 months," S&P said, adding that synergies
associated with the Gunnebo acquisition will help support modest
margin expansion over the same time period.

With roughly $110 million of revenue, Sweden-based Gunnebo makes
crane blocks, wire rope sheaves, chain and lifting components, and
other items serving the industrial, construction, oil and gas,
aquaculture, mining, and crane markets. Crosby seeks to derive most
of the synergies through footprint consolidation, administrative
cost reductions, and supply chain purchasing. As a result of the
acquisition transaction, which will be funded with equity, S&P
expects the company's adjusted debt to EBITDA to improve to the
mid- to high-6x area at the end of 2019 (from about 8.8x at the end
of 2018) before improving further toward the mid-5x area in 2020.
The positive outlook also incorporates the company's solid cash
balance ($63 million as of March 2019), full availability under its
$70 million revolving credit facility due 2024, and S&P's
expectation that the company will maintain an adequate cushion
under its springing first-lien leverage covenant.

The positive outlook on Crosby reflects S&P's expectation for
relatively favorable end-market conditions, driven by stable
economic growth and recovery in the oil and gas end market, which
will allow the company to improve profitability and reduce
leverage. The rating agency expects leverage to be in the mid- to
high-6x area in 2019 and improve further due to organic growth and
the materialization of synergies from the Gunnebo acquisition.

"We could revise our outlook to stable on Crosby if the company
experiences difficulty realizing synergies associated with the
integration of the two businesses, or if the company's operating
performance declines, potentially due to unfavorable macroeconomic
trends, the loss of key customers, such that it sustains an
adjusted debt-to-EBITDA ratio of well above 6.5x over the next 12
months," S&P said, adding that it could also revise its outlook to
stable if the company pursues debt-financed acquisitions or
shareholder returns that increase its leverage to more than 6.5x on
a sustained basis.

"We could raise our rating by one notch over the next 12 months if
we expect the company's adjusted debt-to-EBITDA ratio will remain
less than 6.5x on a sustained basis, inclusive of potential future
debt-funded acquisitions and shareholder-friendly activities, and
we believe the company is committed to maintaining financial
policies that will support this leverage," S&P said.


DAVE GIDDEON: Seeks to Hire Patten Peterman as Counsel
------------------------------------------------------
Dave Giddeon Trucking LLC seeks authority from the U.S. Bankruptcy
Court for the District of Montana to employ Patten Peterman
Bekkedahl & Green, PLLC as its legal counsel.

The firm will provide general counseling and local representation
before the bankruptcy court in connection with the Debtor's Chapter
11 case.

Patten Peterman will be paid at these hourly rates:

     Attorneys                 $200 - $350
     Paralegals                $110 - $160

The firm will also be reimbursed for work-related expenses
incurred.

James Patten, Esq., a partner at Patten Peterman, assured the court
that his 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.

Patten Peterman can be reached at:

     James A. Patten, Esq.
     Patten Peterman Bekkedahl & Green, PLLC
     817 2nd Ave N Ste 300,
     Billings, MT 59101
     Tel: (406) 252-8500
     Fax: (406) 294-9500
     Email: apatten@ppbglaw.com

              About Dave Giddeon Trucking LLC

Dave Giddeon Trucking LLC, a privately held trucking company in
Laurel, Montana, filed a Chapter 11 petition (Bankr. D. Mont. Case
No. 19-60475) on May 15, 2019.  In its petition, the Debtor
estimated $1 million to $10 million in both assets and liabilities.
The petition was signed by Whitney S. Giddeon, member.  

James A. Patten, Esq., at Patten Peterman Bekkedahl & Green, PLLC,
serves as bankruptcy counsel.


DUBOIS CHEMICALS: Moody's Alters Outlook on B2 CFR to Negative
--------------------------------------------------------------
Moody's Investors Service has revised DuBois Chemicals, Inc.'s
outlook to negative from stable. At the same time, Moody's has
affirmed DuBois' B2 Corporate Family Rating, B1 first lien term
loan and revolving credit facility, and the Caa1 second lien term
loan. Moody's also affirmed DuBois' B2-PD probability of default
rating.

"The outlook revision reflects DuBois' failure to meet our
expectations for deleveraging due to its acquisitive growth
strategy and continued elevated leverage above 6.5x" said Domenick
R. Fumai, Vice President and lead analyst.

Affirmations:

Issuer: DuBois Chemicals, Inc.

Probability of Default Rating, Affirmed B2-PD

Corporate Family Rating, Affirmed B2

Gtd. Senior Secured 1st Lien Revolving Credit Facility,
Affirmed B1 (LGD3)

Gtd. Senior Secured 1st Lien Term Loan, Affirmed B1 (LGD3)

Gtd. Senior Secured 2nd Lien Term Loan, Affirmed Caa1 (LGD5)

Outlook Actions:

Issuer: DuBois Chemicals, Inc.

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

The change in outlook to negative from stable is prompted by
DuBois' sustained elevated leverage since Moody's assigned its
initial rating in 2017. DuBois' financial leverage has sustained
above 6.5x since 2017 due to debt-funded acquisitions and modest
growth. The B2 CFR is also constrained by its small size and scale,
limited organic growth prospects, ongoing integration risks and
risks associated with private equity ownership. DuBois' rating is
supported by stable cash flows, solid EBITDA margins, long-term
relationships with customers in diverse end-markets, and low
capital intensity.

Moody's estimates adjusted interest coverage at 2.4x
(EBITDA/Interest) and pro-forma financial leverage at 6.9x (Moody's
Adjusted Debt/EBITDA) for the twelve months ended December 31,
2018. Due to modest organic growth and realization of synergies
from acquisitions, Moody's expects pro forma leverage to remain
over 6.5x over the next 12-18 months. Moody's does not anticipate
any material debt reduction over the rating horizon and expects any
cash or additional free cash flow to be applied towards bolt-on
acquisitions. Furthermore, due to limited organic growth
opportunities in the slowing economic environment, credit metrics
could come under greater pressure and may exceed Moody's estimates.
The rating assumes the company will generate retained cash
flow/debt of at least 2% (RCF/Debt) and roughly $25 million of free
cash flow in 2019.

DuBois Chemicals has good liquidity supported by modest cash
balances, expectations for positive free cash flow generation in
the near-term and an undrawn $50 million revolving credit facility.
The credit agreement governing the revolving credit facility
contains only a springing net first lien leverage covenant that
currently has substantial headroom due to the limited amount of
first lien debt.

Debt capital is comprised of a $50 million first lien senior
secured revolving credit facility, $469 million first lien term
loan, and a $198 million second lien term loan. The B1 ratings on
the first lien senior secured credit facilities, one notch above
the B2 CFR, reflect a first lien position on substantially all
assets and full utilization of the delayed draw term loan. The Caa1
rating on the second lien term loan, two notches below the B2 CFR,
reflects effective subordination to the larger first lien credit
facilities.

Moody's could downgrade the rating if adjusted financial leverage
is sustained above 6.5x, free cash flow turns negative, if there is
a substantial deterioration in liquidity, or a significant dividend
recapitalization. Although an upgrade is unlikely in the near-term,
Moody's could upgrade the rating if leverage was sustained below
5.5x and the company reduces absolute debt.

DuBois Chemicals, headquartered in Sharonville, Ohio, provides
consumable, value-added specialty cleaning chemical solutions and
services for manufacturing industrial processes. The company's
extensive range of products include metalworking fluids, industrial
lubricants, rust inhibitors, water treatment solutions, food and
beverage sanitation, as well as performance improving chemistries
for the paper and pulp industries. The company also serves the
consumer car wash and fleet transportation wash markets. DuBois
Chemicals is owned by private equity sponsor, The Jordan Company,
LP. The company generated revenue of $392 million in 2018.


DXP ENTERPRISES: Moody's Hikes CFR to B1, Outlook Stable
--------------------------------------------------------
Moody's Investors Service upgraded the ratings of DXP Enterprises
Inc, including the Corporate Family Rating to B1 from B2 and the
rating on the term loan due 2023 to B2 from B3. The SGL-2
Speculative Grade Liquidity Rating was affirmed. The outlook is
stable.

"The upgrade reflects the improvement in DXP's credit metrics and
our expectation the company will continue to grow revenues," stated
James Wilkins, Moody's Vice President -- Senior Analyst.

Upgrades:

Issuer: DXP Enterprises Inc

Corporate Family Rating, Upgraded to B1 from B2

Probability of Default Rating, Upgraded to B1-PD from B2-PD

Senior Secured Term Loan, Upgraded to B2 (LGD4) from B3 (LGD4)

Affirmations:

Issuer: DXP Enterprises Inc

Speculative Grade Liquidity Rating, Affirmed SGL-2

Outlook Actions:

Issuer: DXP Enterprises Inc

Outlook, Remains Stable

RATINGS RATIONALE

DXP's revenues have continued to recover in 2019 with increased
North American exploration and production activity. The company's
revenues grew 5% and 21% in 2017 and 2018, respectively, and each
segment continued to show year-over-year revenue and earnings
growth in 2019. DXP's operating margin expanded to 6.2% for the LTM
ended March 31, 2019. It has continued to produce positive free
cash flow despite investing in working capital to support its
growing business. Its leverage has declined in line with the growth
in EBITDA generation (debt/EBITDA = 2.7x as of March 31, 2019).

DXP's B1 CFR is constrained by its high exposure to and reliance on
the North American energy market as well as other cyclical end
markets, modest scale for a distribution company with competitors
having greater resources, single digit operating margins (driven by
its distribution business model) and a history of acquisitions. The
company's last acquisition (Application Specialties Inc. on January
1, 2018) was funded with existing cash balances ($10.8 million)
plus $0.9 million of DXP common stock. Larger potential
transactions could negatively impact the company's leverage or
require substantial equity funding. The company believes they are
still in the early phases of the recovery in the North American
energy industry and will continue to generate organic revenue and
earnings growth. The company's margins do benefit from certain
value added activities. The rating is supported by favorable
leverage and interest coverage credit metrics, the diversity of its
customer base and product lines, broad North American presence,
positive free cash flow generation through cycles (as a result of
low capital expenditure requirements, no common dividend and
release of cash from working capital if revenue declines), a steady
contractual, fee-based business in the Supply Chain Services
segment, and broad supplier base.

The senior secured term loan is rated B2, one notch below the CFR,
reflecting the lower priority of its claim relative to the first
lien secured borrowings under the revolving credit facility. Under
a distressed scenario the collateral available to term loan lenders
likely will not be sufficient to cover the principal amount of the
loan. Accordingly, Moody's believes the B2 rating on the term loan
is more appropriate than the rating suggested by Moody's
Loss-Given-Default (LGD) methodology.

The SGL-2 Speculative Grade Liquidity Rating reflects the company's
good liquidity supported by Moody's expectations that it will
generate positive free cash flow, a cash balance ($31 million as of
March 31, 2019) and undrawn ABL revolving credit facility. DXP can
have some seasonality to its cash flows. The company is subject to
two financial covenants -- a minimum fixed charge coverage ratio if
availability drops below a certain level under the ABL revolver and
a maximum secured leverage ratio (5.0x for the June and September
2019 quarters, 4.75x for the December 2019 and March 2020 quarters
and 4.5x thereafter) under the term loan. Moody's expects the
company will remain in compliance with the financial covenants
through mid-2020. The company is required to make principal
repayments totaling one percent per year of the original term loan
principal ($2.5 million per year). DXP has no significant
maturities until the revolver matures in 2022.

The stable outlook reflects Moody's expectation that DXP will
continue to grow its revenues and produce positive free cash flow.
An upgrade in the company's ratings is constrained by its modest
scale. However, an upgrade could be considered if the company's
EBITA grew considerably to more than $300 million (2018 EBITA was
$92 million), operating margin exceeds six percent on a sustained
basis, and debt to EBITDA is less than 3.0x. The ratings could be
downgraded if revenues decline meaningfully, operating margins fall
below 4%, leverage exceeds 4.5x or the company does not produce
positive free cash flow.

The principal methodology used in these ratings was Distribution &
Supply Chain Services Industry published in June 2018.

DXP Enterprises Inc (NASDAQ: DXPE), headquartered in Houston, TX,
is a distributor and service provider to the energy industry and
industrial customers. It distributes maintenance, repair, operating
(MRO) products and equipment, and provides integrated supply and
other services. DXP also assembles rotating equipment packages and
engages in limited pump manufacturing. Revenues for the twelve
months ended March 31, 2019, totaled $1.2 billion.


EDWARD DAWSON: Lindholts Buying Spokane Property for $225K
----------------------------------------------------------
Edward A. Dawson and Marcia A. Meade ask the U.S. Bankruptcy Court
for the Eastern District of Washington to authorize the sale of the
real property commonly known as 1310 W. Dean Avenue, Spokane,
Washington, and legally described as Lots 9, Block 3, Jenkin's
Second Addition, according to plat Recorded in Volume "D" of Plats,
Page 63, records of Spokane County; Situate in the City of Spokane,
County of Spokane, State of Washington ("Dean Office"), to Karen
Lindholt and Paul Lindholt for $225,000, cash.

The sale of the Property will be free and clear of liens and
interests, including, but not limited to the Liens, Judgments,
Claims, and Warrants identified as numbers 2 through 12 on Exhibit
1.   Such Liens will attach to the proceeds of sale, except the
lien of Gretchen M. Minch-Schroeder filed April 21, 2014 in amount
of $15,308, in the same manner and with the same priority as they
attach to Dean Office, subject to the reasonable costs of
administration of the Chapter 11 estate and subject to the
disbursement provisions following.

The Debtors further ask the Court for an Order that at closing, the
following disbursements will be made to the extent net sales
proceeds are available:  

     1. The reasonable costs and expenses of sale and closing,
including excise tax, revenue stamps, closing and recording fees.
No real estate commission will be paid.  

     2. General real estate taxes shown as number 2 on Exhibit 1,
until paid in full;  

     3. The reasonable costs to perform roof repairs and painting
per paragraph VIII of Washington Commercial Purchase Agreement
("WCPA"), a copy of which is filed herewith.  

     4. CLS Mortgage, Inc. and/or assigns the sum of approximately
$168,241 plus a per diem of $46 from March 20, 2019 until paid in
full;  

     5. To Debtors' estate account the sum of $15,308, the amount
of the avoidable lien of Gretchen M. Minch-Schroeder filed April
21, 2014 attached to the real estate;

     6. State of Washington, Department of Employment Security the
sum of $5,677 for lien number 5.  

     7. Lien of Edmund Prych the sum of unpaid judgment, number 6
on Exhibit 1, of approximately $20,218 until paid in full.   

     8. To the extent valid, unavoidable, and non-duplicated,
warrants listed as numbers 7, 8, 9, 10, 11 and 12 on Exhibit 1until
paid in full.

The Debtors further ask the Court for an Order shortening the time
period to object to their proposal to a period equal to 15 days
from mailing the Notice to Creditors Re: Motion to Sell Real Estate
Free and Clear of Liens and Interests, Disburse Certain Proceeds of
Sale, and Shorten Time Period to Object.

A copy of Exhibit 1 attached to the Motion is available for free
at:

       http://bankrupt.com/misc/Edward_Dawson_191_Sales.pdf

Edward A. Dawson and Marcia A. Meade sought Chapter 11 protection
(Bankr. E.D. Wash. Case No. 18-01857) on June 29, 2018.  The
Debtors tapped Dan ORourke, Esq., at Southwell & ORourke, as
counsel.


ENDEAVOR ENERGY: S&P Upgrades ICR to 'BB-'; Outlook Stable
----------------------------------------------------------
S&P Global Ratings upgraded Midland, Texas-based oil and gas
exploration and production (E&P) company Endeavor Energy Resources
L.P. to 'BB-'.

S&P affirmed the 'BB-' issue-level rating on the company's
unsecured debt and revised the recovery rating to '3', reflecting
its expectation of meaningful (50%-70%; rounded estimate: 65%)
recovery in the event of a payment default.
Meanwhile, the stable outlook reflects the rating agency's view
that Endeavor will continue to build on production and reserves
while reducing costs and leverage.

The upgrade broadly reflects Endeavor's rapidly growing production
and reserve base in the Permian basin, continuous cost reductions,
and gradual improvement in leverage measures. In March, net
production crossed 100 Mboe/d after the company averaged just over
62 Mboe/d for all of 2018. Year-end proved reserves also increased
by 58% to 341 MMBoe (62% developed, 70% oil). Endeavor has amassed
more than 370,000 net acres (95% held-by-production) in the core of
the Midland Basin, which has turned it into a reported takeover
target for larger producers. As its scale expands, the company's
costs have contracted because of accelerating horizontal
development and better drilling and completion cycle times. In
particular, lease operating expenses decreased to $8.58/Boe in the
first quarter from $11.39/Boe a year ago, making it increasingly
competitive with higher rated Permian peers.

"From a financial perspective, we expect Endeavor will continue to
demonstrate moderate financial policy and we project average funds
from operations (FFO) to debt above 50% and debt to EBITDA below
1.75x over the next two years. While we are forecasting
considerable outflows of approximately $600 million in 2019, we
envision a significantly lower outspend in 2020 and 2021," S&P
said.  The rating agency believes the company may tap the capital
markets for a bond deal later this year in order to keep the bulk
of its RBL capacity undrawn.

S&P said that in addition to Endeavor's greater scale, the company
and its local competitors should benefit from much tighter oil
basis pricing going forward as new pipelines alleviate
transportation constraints. While natural gas differentials remain
under pressure, the effects are practically immaterial given its
nominal contribution to Endeavor's revenue stream, according to the
rating agency.

In terms of risk management, Endeavor is generally unhedged outside
of basis swaps on a small portion of oil production in 2020 and
2021. Hence, it is highly exposed to cash flow volatility in the
event of a sudden decline in hydrocarbon prices or regional price
differentials, according to S&P.  "Nevertheless, if necessary, we
believe Endeavor could effectively drop rigs or monetize some of
its vast undeveloped acreage position, which we view as a favorable
credit factor. Endeavor does not have any meaningful debt
maturities before its credit facility expires in 2023 and its
earliest bond maturity in 2026," the rating agency said.

S&P said it expects Endeavor will continue to develop its asset
base and expand production over the next two years. The company
will likely look to fund its substantial capital outspend by
utilizing its revolving credit facility and potentially issuing new
bonds, according to the rating agency. S&P forecasts the company
will maintain FFO to debt of at least 45% with adequate liquidity.

"We could lower the rating if liquidity deteriorates while the
company continues to generate outsized negative free cash flow
because of higher capital spending. A downgrade could also occur if
FFO/debt falls below 30%. This would most likely occur if commodity
prices fall below our price deck assumptions or if the company did
not meet our production growth expectations," S&P said.

"An upgrade would be possible if the company achieves and maintains
FFO/debt in excess of 60% while increasing production, maintaining
adequate liquidity, and significantly reducing cash outflows," S&P
said.

Endeavor is a privately held oil and gas exploration and production
company founded and controlled by Autry C. Stephens. The company's
operations focus on the Permian Basin.

Assumptions:

-- S&P's West Texas Intermediate (WTI) crude oil price assumptions
of $55 per barrel (bbl) in 2019 and beyond.

-- S&P's Henry Hub natural gas price assumptions of $3.00 per
million British thermal units (mmBtu) for the remainder of 2019 and
thereafter.

-- Oil differentials of -$5/bbl in 2019 and -$2/bbl in 2020,
natural gas differentials of -$2.50/MMBtu in 2019 and -$1/MMBtu in
2020. NGL realizations at 35% of WTI.

-- Average production of approximately 105 Mboe/d in 2019 with
20-25% growth in 2020.

-- Total capital spending of about $1.6 billion in 2019,
increasing by $80-$100 million in 2020.

-- Lease operating expenses of roughly $8.40/Boe in 2019.

Based on the assumptions, S&P expects:

-- Average FFO to debt of 50-60%; and
-- Average Debt to EBITDA of 1.5-1.75x.

S&P assesses the company's liquidity as adequate, reflecting its
expectation that its cash sources to uses will exceed 1.2x over the
next 12 months. The rating agency also believes sources of cash
would continue to exceed uses even if forecast EBITDA decreases by
15%. In May 2019, Endeavor's borrowing base increased to $2.1
billion and the company raised commitments to $1.5 billion from $1
billion, with the increase reflected below.

Principal liquidity sources:

-- Unrestricted cash and equivalents of $18.6 million as of March
31, 2019.

-- Pro forma availability of roughly $1.16 billion under the $1.5
billion credit facility.

-- S&P expects FFO of approximately $1.07 billion over the next 12
months.

-- $3.5 million of additional asset sales over the remainder of
2019.

Principal liquidity uses:

-- Capital spending of approximately $1.6 billion over the next 12
months.

For the forecasted period, S&P expects the company to remain
compliant with financial covenants including a 4.0x maximum net
leverage ratio and 1.0x minimum current ratio.

-- S&P's simulated default scenario for Endeavor assumes a
sustained period of low commodity prices, consistent with the
conditions of past defaults in this sector.

-- S&P bases its valuation of Endeavor's reserves on a
company-provided PV-10 report, using its recovery price deck
assumptions of $50 per barrel for WTI crude oil and $3.00 per
million Btu for Henry Hub natural gas.

-- S&P's analysis assumes the $1.5 billion in commitments on the
company's reserve-based lending (RBL) facility remain unchanged and
the facility would be 100% drawn at default.

-- S&P limits the value of proved undeveloped reserves (PUD's) to
25% of the total valuation.

-- The recovery rating for the unsecured debt is capped at '3'
based on empirical analysis for the current rating, S&P assumes the
size and ranking of debt and nondebt claims will change prior to
the hypothetical default.

-- Simulated year of default: 2023

-- Net enterprise value (after 5% bankruptcy admin. costs): $3.16
billion

-- Senior secured claims: $1.56 billion
   
-- Recovery expectations: 90% to 100% (rounded estimate: 95%)

-- Total value available to unsecured claims: $1.60 billion

-- Senior unsecured claims: $1.03 billion

-- Recovery expectations: 50% to 70% (rounded estimate: 65%,
capped)

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


EXELA TECHNOLOGIES: S&P Downgrades ICR to B- on Liquidity Concerns
------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
business process outsourcing provider Exela Technologies Inc. to
'B-' from 'B'.

At the same time, S&P lowered its issue-level rating on the
company's senior secured credit facility to 'B-' from 'B'. The '3'
recovery rating remains unchanged, indicating the rating agency's
expectation for meaningful recovery (50%-70%; rounded estimate:
65%) in the event of a payment default.

"The downgrade reflects Exela's persistently high restructuring
costs, which have contributed to the company's
weaker–than-expected profitability. Additionally, significant
semiannual senior secured debt service needs of about $50 million,
and $20 million in working capital build, have contributed to $50
million of free operating cash flow (FOCF) deficits in the first
quarter of 2019," S&P said.  The rating agency expects the FOCF
deficits to persist through 2019 as the company continues to ramp
up their new contract wins. Given the much weaker-than-expected
first quarter performance, the rating agency now forecasts $20
million to $30 million of cash flow deficits in 2019. This is lower
than S&P's previous expectation that the company would generate $20
million to $30 million of FOCF.

The company generates roughly 80% of revenue from the information
and transaction processing solutions (ITPS) segment, which is
subject to ongoing restructuring and optimization costs. When ITPS
wins new contracts it immediately takes responsibility for the
outsourcing client's resources, and seeks to improve productivity
and reduce costs over a multi-year period. This often results in a
delay in margin improvement or high initial working capital needs.
As a result, S&P expects declines in profitability to persist as
the company continues to grow the business.

The negative outlook reflects Exela's ongoing restructuring
expenses, recent weak operating performance, and negative free cash
flow generation. Over the next 12 months, S&P expects low- to
mid-single-digit revenue growth, moderate margin contraction due to
high upfront costs for new contract wins, and roughly $20 million -
$30 million in free operating cash flow deficits.

"We could lower our ratings on Exela over the next 6 to 12 months
if continued weak operating performance causes the company's
liquidity to be weaker than expected. For example, if the total
liquidity drops below its semi-annual cash interest payment of $50
million due January 15 and July 15 we could likely lower our
ratings," S&P said. "We could also lower our rating if we believe
the capital structure is unsustainable, covenant cushion headroom
drops below 10%, or if we expect a distressed debt exchange."

S&P said it could revise the outlook to stable if Exela can grow
revenue organically, improve margins, and generate positive free
operating cash flow, such that free operating cash flow to debt
remains in the low-single digits or above. This would occur because
of the realization of cost synergies, new higher margin contract
wins, and the successful implementation of automation technologies
which leads to improved productivity, according to the rating
agency.


FISION CORP: 1Q 2019 Financial Results Cast Going Concern Doubt
---------------------------------------------------------------
FISION Corporation filed its quarterly report on Form 10-Q,
disclosing a net loss of $984,855 on $133,153 of revenues for the
three months ended March 31, 2019, compared to a net loss of
$414,905 on $126,880 of revenues for the same period in 2018.

At March 31, 2019 the Company had total assets of $1,009,571, total
liabilities of $3,634,980, and $2,625,409 in total stockholders'
deficit.

The Company said, "For the three months ended March 31, 2019, we
continued to incur a substantial net loss of $984,855, our
accumulated deficit as of March 31, 2019 is $23,499,566, and our
working capital deficiency as of March 31, 2019 is $2,259,277.
These adverse financial conditions raise substantial doubt about
our ability to continue as a going concern. "

A copy of the Form 10-Q is available at:

                       https://is.gd/fDwgrj

FISION Corporation, through its subsidiary, Fision Holdings, Inc.,
operates as an Internet platform technology company that provides
proprietary cloud-based software solutions to automate the
marketing functions and activities of its customers.  Its Fision
marketing software collects, stores, prioritizes, organizes,
streamlines, integrates, and distributes various digital marketing
assets of its customers, including videos, images, logos and other
brand materials, presentations, social media content, and other
material marketing assets.  The company serves banks and other
financial institutions, insurance companies, hotels and other
hospitality enterprises, healthcare and fitness companies,
retailers, product manufacturers, software and other technology
companies, telecommunications companies, and other companies.
FISION Corporation licenses its proprietary software platform
primarily through direct sales and independent national sales
agencies.  The company was founded in 2010 is headquartered in
Minneapolis, Minnesota.


FIVE DREAMS: Case Summary & 7 Unsecured Creditors
-------------------------------------------------
Debtor: Five Dreams Holdings, LLC
        632 Cotton Road
        Canton, GA 30115

Business Description: Five Dreams Holdings, LLC filed as a
                      Single Asset Real Estate (as defined in 11
                      U.S.C. Section 101(51B)).

Chapter 11 Petition Date: June 3, 2019

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Case No.: 19-58641

Debtor's Counsel: Leslie M. Pineyro, Esq.
                  JONES & WALDEN, LLC
                  21 Eighth Street, NE
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: 404-564-9301
                  E-mail: lpineyro@joneswalden.com
                          info@joneswalden.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Brian Stewart, manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's seven unsecured creditors is available for
free at:

           http://bankrupt.com/misc/ganb19-58641.pdf


FROM DUSK TIL DAWN: Crowell Buying Irvington Property for $50K
--------------------------------------------------------------
From Dusk Til Dawn, LLC, asks the U.S. Bankruptcy Court for the
District of New Jersey to authorize the sale of the real property
located at 1147-1153 Stuyvesant Avenue, Irvington, New Jersey,
Block 359, Lot 5, to Wayne Crowell for $50,000.

The Debtor owns the following two real properties located at: (I)
Lot 5 Property; and (II) 1137-1145 Stuyvesant Avenue, Irvington,
New Jersey, also known as Block 359, Lot 6.

On Sept. 27, 2018, US Bank Cust for PC7 Firstrust, by and through
its counsel, filed proof of claim 2-1 in the instant case stating a
secured claim against the Lot 5 Property in the amount of $37,179.

On Dec. 11, 2018, PNC Bank, N.A., by and through its counsel, filed
proof of claim 3-1 in the instant case stating a secured claim
against the Properties in the amount of $418,326.

On Dec. 27, 2018, the New Jersey Department of Environmental
Protection filed amended proof of claim 4-2 in the instant case
stating a secured claim against the Properties in the amount of
$144,021.

On Jan. 8, 2019, the Debtor, by and through MSPC, filed a Motion
for entry of an Order approving the Debtor's sale of the Lot 6
Property.  On Feb. 5, 2019, the Court entered a Consent Order on
the Sale Motion, entered into by and between the Debtor, US Bank,
PNC, granting the Debtor's Sale Motion.  On Feb. 27, 2019, the
Court entered an Amended Consent Order on the Sale Motion entered
into by and between the Debtor, US Bank, PNC and the NJDEP.  On
Feb. 20, 2019, the parties closed on the sale of the Lot 6
Property.

In April 2019, the Debtor received a letter of intent from the
Proposed Purchaser to purchase the Lot 5 Property for $50,000,
subject to several contingencies set forth in the Proposal.  In the
Proposal, the Proposed Purchaser acknowledges his understanding
that the Lot 5 Property is contaminated, and offers to raze the
existing structure and remediate the property.  The sale will be
free and clear of any and all liens, claims and encumbrance and
other interests, with such claims to attach to the proceeds of the
sale.

Pursuant to Bankruptcy Rule 2002(a)(2), the hearing on the Debtor's
Motion is to be conducted on May 21, 2019 at 10:00 a.m.
Objections, if any, must be filed at least seven days prior to the
hearing date.

A copy of the Proposal attached to the Motion is available for free
at:

    http://bankrupt.com/misc/From_Dusk_67_Sales.pdf

                   About From Dusk Til Dawn

From Dusk Til Dawn LLC filed as a Single Asset Real Estate (as
defined in 11 U.S.C. Section 101(51B)).  The Company owns two
properties in Irvington, New Jersey valued by the Company at
$200,000.

From Dusk Til Dawn LLC filed a voluntary Chapter 11 petition
(Bankr. D.N.J. Case No. 18-26927) on Aug. 23, 2018.  In the
petition signed by Brandon Zaleski, managing member, the Debtor
disclosed $209,234 in total assets and $1,042,723 in total
liabilities as of the bankruptcy filing.  Judge John K. Sherwood
oversees the case.  MARK GERTNER, P.C., led by founder Mark
Gertner, is the Debtor's counsel.


FRONTIER OILFIELD: Has $287,363 Net Loss for Quarter Ended Mar. 31
------------------------------------------------------------------
Frontier Oilfield Services, Inc., filed its quarterly report on
Form 10-Q, disclosing a net loss of $287,363 on $235,702 of revenue
(net of discounts) for the three months ended March 31, 2019,
compared to a net loss of $239,602 on $300,465 of revenue (net of
discounts) for the same period in 2018.

At March 31, 2019 the Company had total assets of $3,870,483, total
liabilities of $11,682,361, and $7,811,878 in total stockholders'
deficit.

As of the date of the financial statements, the Company has
generated losses from operations, has an accumulated deficit and
working capital deficiency. These factors raise substantial doubt
regarding the Company’s ability to continue as a going concern.

Donald Ray Lawhorne, Company Chief Executive Officer and Chief
Accounting Officer, said, "To continue as a going concern and
achieve a profitable level of operations, the Company will need,
among other things, to increase its business volume and grow
revenues, reduce its operating expenses, raise additional capital
resources and develop new and stable sources of revenue sufficient
to meet its operating expenses."

A copy of the Form 10-Q is available at:

                       https://is.gd/WLfqlt

                 About Frontier Oilfield Services

Frontier Oilfield Services, Inc., an oilfield service company,
engages in the disposal of saltwater and other oilfield fluids in
Texas.  The company owns and operates nine disposal wells,
including six within the Barnett Shale in North Texas, and three in
East Texas near the Louisiana state line.  It serves national,
integrated, and independent oil and gas exploration companies.  The
company was formerly known as TBX Resources, Inc. and changed its
name to Frontier Oilfield Services, Inc. in February 2012.
Frontier was founded in 1995 and is based in Shreveport, Louisiana.


FT/R LLC: Case Summary & 7 Unsecured Creditors
----------------------------------------------
Debtor: FT/R, LLC
        PO Box 1344
        Friendswood, TX 77549

Business Description: FT/R, LLC is a Single Asset Real Estate
                      Debtor (as defined in 11 U.S.C. Section
                      101(51B)).

Chapter 11 Petition Date: June 3, 2019

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

Case No.: 19-80176

Judge: Hon. Jeffrey P. Norman

Debtor's Counsel: Kimberly Anne Bartley, Esq.
                  WALDRON & SCHNEIDER, L.L.P.
                  15150 Middlebrook Drive
                  Houston, TX 77058
                  Tel: 281-488-4438
                  Fax: 281-488-4597
                  E-mail: kbartley@ws-law.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Harvey W. Doerring, manager.

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

           http://bankrupt.com/misc/txsb19-80176.pdf

List of Debtor's Seven Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. Friendswood Trails, LLC         Promissory Note     $2,026,131
c/o Harvey Doerring
PO Box 1344
Friendswood, TX 77549

2. Pro-Serv                             Survey            $64,528
PO Box 1366
Friendswood, TX 77549

3. C-Bar Contractors Ltd               Business           $28,200
6505 Jay Rd
Hitchcock, TX 77563

4. Crinion, Greg                    Attorney Fees         $26,822
Crinion Davis &
Richardson LLP
106 E Willowick Ave
Friendswood, TX 77546

5. Lake Management                   Fountain at          $17,022
1650 Hwy 6 S                       Detention Pond
Sugarland, TX 77478

6. Appian Way                          Business           $15,100
19515 Jackson Brook Way
Cypress, TX 7742

7. Soouthern Tractor Service       Mowing Services         $2,120
PO Box 1124
Mont Belvieu, TX 77580


FTD COMPANIES: Flower Delivery Company Files for Bankruptcy
-----------------------------------------------------------
Floral and gifting company FTD Companies, Inc. (Nasdaq: FTD), which
has a worldwide presence with its iconic Mercury Man logo displayed
in over 30,000 floral shops in more than 125 countries, sought
Chapter 11 protection for the District of Delaware five years after
acquiring rival ProFlowers for $145 million in cash.


FTD, which has 872 core employees in North America, owes $149
million under its secured credit facilities.  FTD had borrowed $120
million to finance the purchase of ProFlowers owner Provide
Commerce LLC in December 2014.

In 2018, the Company's U.S. Consumer segment generated $727.9
million in revenue, constituting over 80% of total revenue.  By
business unit, the U.S. Consumer segment produced these amounts of
revenue in 2018: (a) $227.2 million from FTD.com, (b) $240.8
million from ProFlowers, (c) $133.6 million from Gourmet Foods, and
(d) $126.3 million from Personal Creations.  However, the U.S.
Consumer segment experienced aggregate segment operating losses of
approximately $4.6 million.

Saying the proposed benefits of the Provide acquisition failed to
materialize and e-commerce platforms like Amazon training customers
to expect free or nominal delivery fees, FTD and substantially all
its domestic subsidiaries sought Chapter 11 protection on June 3,
2019.

The Company said in a statement that it intends to use the
court-supervised restructuring process to support and protect its
ongoing business operations, including its relationships with
member florists and business partners, to provide an efficient and
binding mechanism for the potential sales of its businesses and to
address a near-term debt maturity.

The Company has already made significant progress completing its
strategic initiatives, including:

    * Entering into a definitive asset purchase agreement with an
affiliate of Nexus Capital Management LP to acquire FTD'sNorth
America and Latin America Consumer and Florist businesses,
including ProFlowers;

    * Entering into a non-binding letter of intent with a strategic
investor to acquire Personal Creations;

    * Entering into a non-binding letter of intent with Farids &
Co., LLC, which is owned by Tariq Farid, founder of Edible
Arrangements, LLC, to acquire Shari's Berries;

    * Completing the sale of U.K.-based Interflora to a subsidiary
of The Wonderful Company; and

    * Implementing a new operating model for ProFlowers to better
support the FTD florist network and reduce costs by also harnessing
our third-party drop-ship network.

The Company is operating in the ordinary course and remains focused
on supporting its extensive network of member florists and business
partners connected by its iconic FTD brand in North America and
Latin America.  The Company's other businesses, including
ProFlowers, Shari's Berries and Personal Creations, are also
continuing to provide floral, specialty foods, gifts and related
products to consumers.

"The important actions we are taking today are designed to enable
us to continue supporting our network of florists and business
partners and serving consumers while we work to complete the
initiatives coming out of our strategic review," said Scott Levin,
FTD's President and Chief Executive Officer. "Over the last several
months, we conducted a robust strategic review to determine the
best path forward for our company.  With the advice and support of
our outside advisors, we have initiated this court-supervised
restructuring process to provide an orderly forum to facilitate
sales of our businesses as going concerns and to enable us to
address a near-term debt maturity.  Importantly, everyone involved
with this process understands the critical role of our talented
member florists, and we intend to continue supporting them as
normal throughout this process. Our dedicated employees remain
focused on continuing to provide the outstanding customer service
and high level of support our member florists expect from us, and I
thank them for all of their hard work."

The Company has received commitments for up to approximately $94.5
million in debtor-in-possession ("DIP") financing from a syndicate
comprised of its existing lenders.  Upon approval by the Bankruptcy
Court, this financing, combined with cash generated from the
Company's ongoing operations, will be used to, among other things,
support the business during the court-supervised restructuring
process.

                        First Day Pleadings

The Company has filed pleadings, referred to as "first day
motions," with the Bankruptcy Court.  The relief sought in the
first day motions is expected to enable the Company to continue to
support its business operations during the restructuring process,
including by continuing payments and services to member florists
and business partners without interruption, managing its continuing
relationships with vendors and customers and paying wages and
benefits for continuing employees.

A hearing on the first day motions is scheduled for June 4, 2019,
at 1:30 p.m. in bankruptcy court in Delaware.

           Stock Delisting, No Shareholder Recovery

The Company expects its common stock will be delisted from the
Nasdaq Stock Market for non-compliance with marketplace rules as a
result of the Chapter 11 filing.  In addition, based on the values
for the Company's businesses contemplated by the potential asset
sales, it expects that existing Company stockholders will receive
no recovery at the end of the court-supervised restructuring
process, consistent with legal priorities.

                     Sale of Interflora

The Company also said it has sold its Interflora business in the
U.K. to a subsidiary of The Wonderful Company for $59.5 million in
cash.  The Interflora business operated independently from FTD's
North America and Latin America businesses and it is not part of
the Chapter 11 filing.

"We are pleased to announce the sale of our Interflora business in
the U.K., which follows a deliberate and robust marketing process.
We are grateful to our Interflora colleagues for their
contributions to our company, and we wish them well under new
ownership," said Levin.

                       About FTD Companies

FTD Companies, Inc. –- http://www.ftdcompanies.com/-- is a
premier floral and gifting company. Through its diversified family
of brands, it provides floral, specialty foods, gifts, and related
products to consumers primarily in North America.  It also provides
floral products and services to retail florists and other retail
locations throughout these same geographies.  FTD has been
delivering flowers since 1910, and the highly-recognized FTD brand
is supported by the iconic Mercury Man logo, which is displayed in
over 30,000 floral shops in more than 125 countries. In addition to
FTD, its diversified portfolio of brands includes the following
trademarks: ProFlowers, Shari's Berries, Personal Creations,
Gifts.com, and ProPlants.  FTD Companies is headquartered in
Downers Grove, Illinois.

On June 3, 2019, FTD and 14 domestic subsidiaries sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 19-11240).

Jones Day is serving as legal advisor to the Company, Moelis &
Company LLC and Piper Jaffray & Co. are serving as its investment
bankers and financial advisors, and AP Services, LLC, an affiliate
of AlixPartners, is providing Chief Restructuring Officer
services.

Omni Management Group is the claims agent and has put up the site
http://www.FTDrestructuring.com/



FUSION CONNECT: 1st Lien Lenders Get Equity in Plan Scenario
------------------------------------------------------------
Fusion Connect, Inc., and each of its U.S. subsidiaries entered
into a Restructuring Support Agreement, dated as of June 3, 2019
with lenders holding more than 66-2/3% of the aggregate outstanding
principal amount of prepetition first lien loans, according to a
regulatory filing, dated June 3, 2019, with the Securities and
Exchange Commission.

Pursuant to the RSA, lenders under the First Lien Credit and
Guaranty Agreement, dated as of May 4, 2018, by and among Fusion,
as borrower, certain subsidiaries of Fusion, as guarantors,
Wilmington Trust, National Association, as administrative agent and
collateral agent, and the lenders party thereto, and the Company
have agreed to the principal terms of a restructuring of the
Company, which is to be implemented pursuant to a chapter 11 plan
of reorganization, and provides for either a standalone
reorganization or a sale of some, all or substantially all of the
Company's assets or business to a third party.

The RSA provides that the implementation of the Sale Transaction
will be conducted pursuant to a sale and marketing process (the
"Sale Process"), whereby, the Company will solicit bids for a
potential Sale Transaction in accordance with the Bidding
Procedures attached to the RSA.  Pursuant to the terms of the
Bidding Procedures, pursuit of a Sale Transaction by the Company
may include bids for any form of sale, investment, acquisition or
similar transaction.  The Sale Process also provides that the
Company may solicit bids to sell assets of the Company, including
the equity interest in or assets of the Company's two Canadian
subsidiaries, independently or together with other assets.

The RSA contemplates different treatments for various key classes
of creditors of the Company, including the holders of First Lien
Claims, Second Lien Claims, unsecured claims and the Company's
equity, pursuant to the Reorganization Transaction, whereby such
creditors will receive differing amounts of proceeds, if any.  If
the Company proceeds to consummation of a Sale Transaction, the
Company will distribute proceeds of such transaction in accordance
with the priority rules of the Bankruptcy Code.

                  Distribution to Creditors

The First Lien Claims will be subject to the following treatment:

   a. If the Debtors consummate the Sale Transaction, on the Plan
Effective Date, each holder of a First Lien Claim will receive its
pro rata share of the proceeds of the Sale Transaction in an amount
or of a value equal to the lesser of (x) all First Lien Claims and
(y) the proceeds of the Sale Transaction after the amount paid to
satisfy all DIP Claims, all Administrative, Priority Tax and Other
Priority Claims, and such other Claims and estate costs as
determined by the Requisite First Lien Lenders.

   b. If the Debtors consummate the Reorganization Transaction, on
the Plan Effective Date, each holder of an First Lien Claim will
receive its pro rata share of:

         i. 100% of the New Equity Interests, subject to dilution
by the Management Incentive Plan, less any New Equity Interests
distributable to other classes of Claims in order for the
Bankruptcy Court to determine that the Plan satisfies the best
interests test;

        ii. The New First Lien Term Loans; and

       iii. The Canadian Sale Proceeds, if any.

On the Plan Effective Date, each holder of an allowed General
Unsecured Claim will either (i) not receive or retain any property
or interest in property on account of such Claim or (ii) receive
its pro rata share of the percentage of the New Equity Interests
determined by the Bankruptcy Court to satisfy the best interests
test; provided, however, that if the Debtors consummate the Sale
Transaction, each holder of an allowed General Unsecured Claim will
receive, if anything, its pro rata share of the proceeds of the
Sale Transaction in an amount or of a value equal to the lesser of
(x) all allowed General Unsecured Claims and (y) any positive
amount remaining from the proceeds of the Sale Transaction after
the amount paid to satisfy all First Lien Claims, all Second Lien
Claims, all DIP Claims, all Administrative, Priority Tax and Other
Priority Claims, and such other Claims and estate costs as
determined by the Requisite First Lien Lenders.

On the Plan Effective Date, Interests in FCI will be cancelled and
discharged and the holders thereof will not receive or retain any
property or interest in property on account of such Interests.

                            Milestones

The RSA obligates the Company and the Consenting First Lien Lenders
to, among other things, use commercially reasonable efforts to
support the consummation of the Restructuring and, as to the
Consenting First Lien Lenders, vote to accept the Plan subject to
the receipt of solicitation materials in accordance with Section
1125(g) and 1126 of the Bankruptcy Code.  The RSA may be terminated
upon the occurrence of certain events, including, among other
requirements, the failure to meet specified milestones contained in
the RSA, confirmation and consummation of the Plan, and in the
event of certain breaches by the parties under the RSA.  Although
the Company intends to pursue the Restructuring in accordance with
the terms set forth in the RSA, there can be no assurance that the
Company will be successful in completing the Reorganization
Transaction or a Sale Transaction or any other similar transaction
on the terms set forth in the RSA, on different terms, or at all.

The Restructuring Support Agreement and the DIP Financing require
that, among other things, the following key milestones are met:

   * File motion seeking approval of bidding procedures: June 4,
2019

   * Entry of order approving DIP Financing on an interim basis:
June 8, 2019

   * File Plan and Disclosure Statement: June 24, 2019

   * Entry of order approving DIP Financing on an final basis: July
8, 2019

   * Entry of order approving Bidding Procedures Motion: 21 days
from filing of Bidding Procedures Motion

   * Entry of Disclosure Statement Order: August 2, 2019

   * Entry of Confirmation Order: October 1, 2019

   * Plan Effective Date: 20 days from entry of Confirmation Order

A copy of the RSA is available at https://is.gd/BeEgDV

                          DIP Financing

In connection with the Chapter 11 Cases, as contemplated by the
terms of the RSA and subject to approval of the Court, Fusion has
secured the backstop commitments from members of an ad hoc group of
first lien lenders to provide a debtor-in-possession financing
facility and expects to shortly enter into a Superpriority Secured
Debtor-in-Possession Credit and Guaranty Agreement (the "DIP Credit
Agreement"), by and among Fusion, as borrower, certain subsidiaries
of Fusion, as guarantors, the lenders party thereto and Wilmington
Trust, as administrative agent and collateral agent.  The DIP
Credit Agreement will provide for a superpriority secured
debtor-in-possession credit facility in the aggregate principal
amount of up to $59,500,000, including $39,500,000 in the aggregate
principal amount of new money term loans, subject to the terms and
conditions set forth therein.

Attorneys to the Consenting First Lien Lenders/ Ad Hoc First Lien
Lender Group:

         Damian S. Schaible, Esq.
         Adam L. Shpeen, Esq.
         Davis Polk & Wardwell LLP
         450 Lexington Avenue
         New York, NY 10017
         E-mail: damian.schaible@davispolk.com
         E-mail: adam.shpeen@davispolk.com

                           About Fusion

Fusion Connect -- http://www.fusionconnect.com/-- provides
integrated cloud solutions to small, medium and large businesses,
is the industry's Single Source for the Cloud.  Fusion's advanced,
proprietary cloud services platform enables the integration of
leading edge solutions in the cloud, including cloud
communications, contact center, cloud connectivity, and cloud
computing.  Fusion's innovative, yet proven cloud solutions lower
customers' cost of ownership, and deliver new levels of security,
flexibility, scalability, and speed of deployment.

On June 3, 2019, Fusion Connect and each of its U.S. subsidiaries
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
19-11811).  Fusion's two Canadian subsidiaries are not included in
the filing.

Fusion disclosed $570,432,338 in assets and $760,720,713 in
liabilities as of April 30, 2019.

Fusion is advised in this process by FTI Consulting and PJT
Partners, Inc., as financial advisors, and Weil, Gotshal & Manges
LLP as legal advisor.  Prime Clerk LLC is the claims agent.

The First Lien Ad Hoc Group is advised by Greenhill & Co, LLC, as
financial advisor, and Davis Polk & Wardwell LLP, as legal
advisor.



FUSION CONNECT: Case Summary & 40 Largest Unsecured Creditors
-------------------------------------------------------------
Lead Debtor: Fusion Connect, Inc.
             aka Fusion
             aka Fusion Connect
             aka Fusion Telecommunications International, Inc.
             420 Lexington Avenue, Suite 1718
             New York, NY 10170

Business Description: Fusion Connect, Inc. --
                      http://www.fusionconnect.com/-- is a
                      provider of integrated cloud solutions,
                      including cloud communications, cloud
                      connectivity, cloud computing, and business
                      services to small, medium and large
                      businesses.  Fusion Connect is headquartered
                      in New York.

Chapter 11 Petition Date: June 3, 2019

Nineteen affiliates that filed voluntary petitions seeking relief
under Chapter 11 of the Bankruptcy Code:

     Debtor                                         Case No.
     ------                                         --------
     Fusion Connect, Inc. (Lead Case)               19-11811
     Fusion Telecom of Texas Ltd., L.L.P.           19-11812
     Fusion Texas Holdings, Inc.                    19-11813
     Fusion Cloud Services, LLC                     19-11814
     Fusion Communications, LLC                     19-11815
     Fusion PM Holdings, Inc.                       19-11816
     Fusion Management Services LLC                 19-11817
     Bircan Holdings, LLC                           19-11818
     Fusion Telecom of Missouri, LLC                19-11819
     Fusion Telecom of Oklahoma, LLC                19-11820
     Fusion Telecom of Kansas, LLC                  19-11822
     Fusion Telecom, LLC                            19-11824
     Fusion CB Holdings, Inc.                       19-11825
     Fusion BCHI Acquisition LLC                    19-11827
     Fusion LLC                                     19-11828
     Fusion NBS Acquisition Corp.                   19-11829
     Fusion Cloud Company LLC                       19-11830
     Fusion MPHC Group, Inc.                        19-11831
     Fusion MPHC Holding Corporation                19-11832

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Stuart M. Bernstein

Debtors' Counsel: Gary T. Holtzer, Esq.
                  Sunny Singh, Esq.
                  WEIL, GOTSHAL & MANGES LLP
                  767 Fifth Avenue
                  New York, New York 10153
                  Tel: (212) 310-8000
                  Fax: (212) 310-8007
                  Email: sunny.singh@weil.com
                         gary.holtzer@weil.com

Debtors'
Financial
Advisor:          FTI CONSULTING, INC.
                  Three Times Square
                  9th Floor, New York, NY 10036

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

Debtors'
Tax
Consultants:      PRICEWATERHOUSECOOPERS LLP
                  1075 Peachtree Street, Suite 2600
                  Atlanta, GA 30309

Debtors'
Special Tax,
Regulatory,
Litigation, and
Corporate
Counsel:          KELLEY DRYE & WARREN LLP
                  101 Park Avenue
                  New York, New York 10178

Debtors'
Claims,
Noticing, &
Solicitation
Agent:            PRIME CLERK LLC
                  830 3rd Avenue, 9th
                  Floor, New York, NY 10022
                  https://cases.primeclerk.com/Fusion

Total Assets as of April 30, 2019: $570,432,338

Total Debts as of April 30, 2019: $760,720,713

The petitions were signed by Keith Soldan, chief financial officer
and principal accounting officer.

A full-text copy of Fusion Connect's petition is available for free
at:

            http://bankrupt.com/misc/nysb19-11811.pdf

List of Debtors' 40 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. AT&T Corporation                     Telco         $24,742,775
722 N Broadway, 9th Floor
Milwaukee, Wisconsin 53202
Attn.: April Mullins
Tel: (414) 274‐7110
Email: am1986@att.com

2. Abante Rooter and                  Settlement       $5,000,000
Plumbing et al.
c/o Broderick & Paronich, P.C.
99 High Street, Suite 304
Boston, Massachusetts 02110
Attn.: Matthew P. McCue
Tel: (617) 738‐7080
Email: mmccue@massattorneys.net

3. Verizon Communications                Telco         $4,163,922
6929 North Lakewood Avenue
Tulsa, Oklahoma 74117
Attn.: Curtis Baker
Tel: (918) 590‐9027
Email: Curtis.Baker@verizon.com

4. ZAYO Group LLC                        Telco         $3,090,335
414 West 14th Street, 2nd Floor
New York, New York 10014
Attn.: Chad Lehman
Tel: (412) 841‐2539
Email: chad.lehman@zayo.com

5. XO Communications                     Telco         $2,375,266
6929 North Lakewood Avenue
Tulsa, Oklahoma 74117
Attn.: Curtis Baker
Tel: (918) 590‐9027
Email: Curtis.Baker@verizon.com

6. Federal Communications              Settlement      $2,310,000
Commission
445 12 Street SW, Room 4C‐224
Washington, District of Columbia 20554
Attn.: Lisa Williford
Tel: (202) 418‐0930
Email: Lisa.Williford@fcc.gov

7. Global Capacity Group, Inc.            Telco        $1,606,001
265 Winter Street
Waltham, Massachusetts 02451
Attn.: Shane McDonald
Tel: +44 115 896 1799
Email: Shane.Mcdonald@gtt.net

8. Frontier Communications                Telco        $1,436,315
Corporation
401 Merritt 7
Norwalk, Connecticut 06851
Attn.: Lynne Hladik
Tel: (919) 941‐6520
Email: lynne.hladik@ftr.com

9. Broadsoft, Inc.                        Trade        $1,374,120
9737 Washingtonian Blvd., Suite 350
Gaithersburg, Maryland 20878
Attn.: Dave Mulhern
Tel: (240) 364‐5342
Email: dmulhern@cisco.com

10. CenturyLink, Inc.                     Telco        $1,051,126
100 CenturyLink Dr.
Monroe, Louisiana 71203
Attn.: Barry Horne
Tel: (801) 238‐0453
Email: Barry.Horne@CenturyLink.com

11. Level 3 Communications                Telco          $834,568
100 CenturyLink Drive
Monroe, Louisiana 71203
Attn.: Barry Horne
Tel: (801) 238‐0453
Email: Barry.Horne@CenturyLink.com

12. Greenberg Traurig, LLP            Professional        $802,579
MetLife Building                        Services
200 Park Avenue
New York, New York 10166
Attn.: Dennis J. Block
Tel: (212) 801‐2222
Email: blockd@gtlaw.com

13. Windstream Communications            Telco            $768,763
4001 Rodney Parham Road
Little Rock, Arkansas 72212
Attn.: Laura Landry
Tel: (501) 748‐3574
Email: laura.landry@windstream.com

14. Time Warner Cable                    Telco            $587,649
7815 Crescent Executive Drive, Suite 200
Charlotte, North Carolina 28217
Attn.: Janice Caldwell
Tel: (704) 945‐8312
Email: janice.caldwell@charter.com

15. Jones Day                         Professional        $556,231
1420 Peachtree Street, Suite 800        Services
Atlanta, Georgia 30309
Attn.: William B. Rowland
Tel: (404) 521‐3939
Email: troach@JonesDay.com

16. Universal Service                 Regulatory          $531,389
Administrative Co.                      Agency
Customer Operations/Gen. Inquires
700 12th Street NW, Suite 900
Washington, District of Columbia 20005
Attn.: Chang‐Hua Chen
Tel: (202) 772‐5221
Email: cchen@usac.org

17. Infinit Technology Solutions         Trade            $496,922
7037 Fly Road
East Syracuse, New York 13057
Attn.: Tom Cusumano
Tel: (877) 825‐8340 Ext. 4223
Email: cusumanot@infinit‐tech.com

18. SoftwareONE Inc.                     Trade            $484,649
20875 Crossroads Circle, Suite 1
Waukesha, Wisconsin 53186
Attn.: Katrina Strong
Tel: (262) 439‐7819
Email: katrina.strong@softwareone.com

19. Symantec Corporation                 Telco            $426,959
350 Ellis Street
Mountain View, California 94043
Attn.: Mayur Doshi
Tel: (541) 335‐7443
Email: mayur_doshi@symantec.com

20. Dell, Inc.                           Trade            $401,275
1 Dell Way
Round Rock, Texas 78682
Attn.: David Halley Jr.
Tel: (512) 728‐6298
Email: david_halley@dell.com

21. Salesforce.com Inc.                  Trade            $393,803
415 Mission Street, 3rd Floor
San Francisco, California 94105
Attn.: Aman Alagh
Tel: (347) 735‐0551
Email: aalagh@salesforce.com

22. Equinix Inc.                         Telco            $366,070
1950 N Stemmons Freeway
Dallas, Texas 75207
Attn.: James Westbrook
Tel: (214) 743‐8933
Email: jwestbrook@equinix.com

23. GTT Communications, Inc.             Telco            $356,505
3379 Peachtree Rd NE, #925
Atlanta, Georgia 30326
Attn.: Shane McDonald
Tel: +44 115 896 1799
Email: Shane.Mcdonald@gtt.net

24. Microsoft Corporation                Trade            $344,148
8000 Avalon Boulevard, Suite 800
Alpharetta, Georgia 30009
Attn.: Lucky Lidhar
Tel: (770) 862‐9015
Email: Lucky.Lidhar@microsoft.com

25. Metaswitch Networks Ltd.             Trade            $304,803
399 Main Street
Los Altos, California 94022
Attn.: Patrick Hally
Tel: (703) 480‐0509
Email: Patrick.Hally@megaswitch.com

26. Persistent Systems Inc.              Trade            $280,690
2055 Laurelwood Road, Suite 210
Santa Clara, California 95054
Attn.: Shekhar V. Patankar
Tel: 91‐712‐6761583
Email: shekhar_patankar@persistent.com

27. Comcast Corporation                  Telco            $269,383
Comcast Center
1701 JFK Blvd.
Philadelphia, Pennsylvania 19103
Attn.: Samuel Scott
Tel: (855) 871‐4366
Email: Samuel_Scott2@comcast.com

28. TelePacific                          Telco            $258,549
515 S Flower Street, 4th Floor
Los Angeles, California 90071
Attn.: Gina Alarid
Tel: (303) 268‐5422
Email: galarid@tpx.com

29. Veristor Systems, Inc.               Trade           $249,985
4850 River Green Parkway
Duluth, Georgia 30096
Attn.: Laurie Montemurro
Tel: (678) 990‐1593
Email: montemurro@veristor.com

30. ScanSource Communications Inc.       Trade           $244,336
250 Scientific Drive NW
Norcross, Georgia 30092
Attn.: Seth Drugatz
Tel: (864) 286‐4736
Email: seth.drugatz@scansource.com

31. Inseego North America LLC            Trade           $243,023
180 West 8th Avenue, Suite 300
Eugene, Oregon 97401
Attn.: Heidi Siebenlist
Tel: (858) 812‐3425
Email: heidi.siebenlist@inseego.com

32. Park Place Technologies LLC          Trade           $240,999
5910 Landerbrook Drive
Cleveland, Ohio 44124
Attn.: Evan Gormley
Tel: (440) 683‐9457
Email: egormley@parkplacetech.com

33. CounterPath Corporation              Trade           $222,832
Suite 300, One Bentall Center
505 Burrard Street, Box 95
Vancouver, British Columbia
V7X 1M3 Canada
Attn.: Todd Carothers
Tel: (312) 873‐6102
Email: tcarothers@counterpath.com

34. Safari Micro Inc.                    Trade           $220,758
2185 W Pecos Road, #9
Chandler, Arizona 85224
Attn.: Todd Erickson
Tel: (888) 446‐4770 Ext. 1028
Email: todd@safarimicro.com

35. NETXUSA Inc.                         Trade           $214,009
231 Beverly Road
Greenville, South Carolina 29609
Attn.: Crystal Adamson
Tel: (864) 271‐9868
Email: crystal.adamson@ingrammicro.com

36. Quest Technology Management          Trade           $213,861
5 Polaris Way
Aliso Viejo, California 92656
Attn.: Justin Trammell
Tel: (925) 286‐3467
Email: Justin_Trammell@questsys.com

37. Object Frontier Inc.                 Trade           $208,200
3025 Windward Plaza, Suite 525
Alpharetta, Georgia 30005
Attn.: Sunil Thatta
Tel: (770) 685‐3400
Email: sunil.thatta@objectfrontier.com

38. FPL Fibernet LLC                     Telco           $203,684
80 Central Street
Boxborough, Massachusetts 01719
Attn.: Thomas Barents
Tel: (508) 621‐1913
Email: Thomas.Barents@crowncastle.com

39. Empirix Inc.                         Trade           $192,673
3355 Lenox Road NE
Atlanta, Georgia 30326
Attn.: Allen K. Anderson
Tel: (704) 620‐2120
Email: aanderson@empirix.com

40. Sonian, Inc.                         Telco           $191,206
3175 S. Winchester Boulevard
Campbell, California 95008
Attn.: Sarah Federici
Tel: (408) 342‐5506
Email sfederici@barracuda.com


FUSION CONNECT: Files for Chapter 11 After Reaching Deal
--------------------------------------------------------
Cloud services provider Fusion Connect, Inc. (OTC-MKTS: FSNN), and
18 affiliates sought Chapter 11 protection after it entered into a
Restructuring Support Agreement with lenders holding more than
66.67% of the aggregate outstanding principal amount of its first
lien loans.

Absent higher and better offers, senior lenders owed about $574
million will take over the company under a proposal to slash debt
by $300 million.

Fusion had borrowed $680 million, including the senior lender
loans, to take over Birch Communications and MegaPath Cloud Co.
last year.  Part of that money went to pay off subordinated debt
owed to company insiders Holcombe T. Green Jr. and Holcombe T.
Green, III, according to court papers.  But missed revenue
projections following the acquisition left the company with
significantly less liquidity than originally anticipated.

With the RSA in place, Fusion expects to emerge from Chapter 11
before the end of the year.

All of Fusion's businesses are operating as usual, and the Company
is committed to fulfilling its commitments to its customers,
employees, agents and key vendors throughout the Chapter 11
process.

As is typical in Chapter 11 proceedings, Fusion has filed customary
"first day" motions that will allow it to maintain its employee
wage and benefit programs, customer and agent programs, and vendor
payments for goods and services delivered in the ordinary course,
subject to Court approval.

In addition, the Company has secured a commitment backstopped by an
ad hoc group of first lien lenders for a debtor-in-possession
financing that provides for a superpriority secured credit facility
in the aggregate principal amount of $59.5 million, including $39.5
million in new money term loans.

"For the past couple of months, Fusion has been in constructive
discussions with our lenders as we evaluated multiple options to
improve the company's financial structure and position the Company
for future growth.  This has been a thoughtful and considered
process, and we firmly believe that our voluntary Chapter 11 filing
is the most appropriate course of action to protect and enhance the
value of our business while securing the best possible outcome for
our stakeholders," said Matthew Rosen, Chairman and Chief Executive
Officer of Fusion.  "We are grateful for the continued financial
support of our lenders and the continued support, loyalty and trust
of our stakeholders, and we are confident that we will emerge
stronger than ever, with a renewed focus on delivering Fusion's
advanced Single Source Cloud solutions and exceptional customer
experience, now and for many years to come."

As part of the restructuring, Fusion will use the protections and
framework of Chapter 11 to efficiently maximize the value of the
business through a sale process that will include existing lenders
as well as potential new investors.

                           About Fusion

Fusion Connect -- http://www.fusionconnect.com/-- provides
integrated cloud solutions to small, medium and large businesses,
is the industry's Single Source for the Cloud.  Fusion's advanced,
proprietary cloud services platform enables the integration of
leading edge solutions in the cloud, including cloud
communications, contact center, cloud connectivity, and cloud
computing.  Fusion's innovative, yet proven cloud solutions lower
customers' cost of ownership, and deliver new levels of security,
flexibility, scalability, and speed of deployment.

On June 3, 2019, Fusion Connect and each of its U.S. subsidiaries
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
19-11811).  Fusion's two Canadian subsidiaries are not included in
the filing.

Fusion disclosed $570,432,338 in assets and $760,720,713 in
liabilities as of April 30, 2019.

Fusion is advised in this process by FTI Consulting and PJT
Partners, Inc., as financial advisors, and Weil, Gotshal & Manges
LLP as legal advisor.  Prime Clerk LLC is the claims agent.

The First Lien Ad Hoc Group is advised by Greenhill & Co, LLC, as
financial advisor, and Davis Polk & Wardwell LLP, as legal
advisor.



GALENFEHA INC: MaloneBailey, LLP Raises Going Concern Doubt
-----------------------------------------------------------
Galenfeha, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K, disclosing a net income
of $84,456 on $3,335,330 of revenues for the period Jan. 29, 2018
to Dec. 31, 2018 (Successor), compared to a net loss of $316,756 on
$1,938,529 of revenues for the year ended in 2017.  From the period
Jan. 1, 2018 to Jan. 28, 2018 (Predecessor), the Company had net
income of $157,112 over $412,416 of net revenues.   

The audit report of MaloneBailey, LLP states that the Company has a
net capital deficiency and limited cash flows from operation that
raises substantial doubt about its ability to continue as a going
concern.

The Company's balance sheet at Dec. 31, 2018, showed total assets
of $2,289,915, total liabilities of $2,313,408, and a total
stockholders' deficit of $23,493.

A copy of the Form 10-K is available at:

                       https://is.gd/b7BGwK

Galenfeha, Inc., focuses on developing technologies for
engineering, manufacturers, and product life cycles; and exploring
investments in private and public sectors.  Previously, the company
provided engineering services and alternative power products
primarily to natural gas producers and various industries in Texas
and Louisiana.  It also offered contractual engineering services;
and products to reduce its customer's cost associated with energy
production, including carbon footprint, hazardous waste, and other
non-sustainable aspects of producing energy.  Galenfeha was founded
in 2013 and is headquartered in Fort Worth, Texas.


GATEWAY CASINOS: S&P Alters Outlook to Negative, Affirms 'B' ICR
----------------------------------------------------------------
S&P Global Ratings revised its outlook on B.C.-based casino
operator Gateway Casinos & Entertainment Ltd. to negative from
stable, and affirmed its 'B' long-term issuer credit rating on the
company.

At the same time, S&P affirmed its 'BB-' issue-level rating, with a
'1' recovery rating, on the company's first-lien senior secured
debt and its 'CCC+' issue-level rating, with a '6' recovery rating,
on Gateway's second-lien senior secured notes.

The negative outlook reflects the expectation that S&P's adjusted
debt-to-EBITDA will be above 8x over the next 12 months compared
with its previous expectation of about 7x due to the cash dividends
paid to financial sponsor Catalyst Capital Group Inc., minority
shareholders and management. The US$135 million cash dividend plus
transaction fees was financed through a secured bridge loan,
borrowed by GTWY Holdings Ltd. (a newly created holding company
that owns a 100% equity interest in Gateway). The bridge loan is
secured by GTWY Holdings' equity interest in Gateway. S&P includes
this new debt in its leverage metric calculation because GTWY
Holdings has no operating assets and fully depends on Gateway for
servicing this debt obligation as necessary. S&P views this
transaction to be credit negative because it limits financial
flexibility under the current rating to accommodate any operational
underperformance. Furthermore, the transaction reflects the
financial sponsor's added tolerance for risk especially while the
company plans to spend about C$400 million in the next two years on
its Ontario and B.C. assets. Any EBITDA underperformance combined
with the already expected negative free cash flow can significantly
hamper Gateway's debt servicing capacity, resulting in adjusted
debt-to-EBITDA to remain above 8x over the next 12-18 months, which
S&P views as a credit risk.

S&P forecasts EBITDA growth in 2020 will result from improved
operational performance in the Ontario assets following significant
capital investments and stable performance from Gateway's Vancouver
properties. As a result, S&P anticipates annual adjusted EBITDA to
increase organically in the low-to-mid single-digit area over the
next 12-24 months, thereby leading to a gradual deleveraging of
Gateway's balance sheet to S&P Global Ratings' adjusted
debt-to-EBITDA of about 7x. At the same time, Gateway is pursuing a
huge capital investment program for its Ontario assets, which
constrains free operating cash flow generation over the next 12-24
months, pressuring the company's debt servicing capacity. S&P
believes the company will have a heavy capital outlay of about
C$210 million-C$220 million in 2019 and C$175 million-C$200 million
in 2020 (mostly to be invested in the Ontario assets), which it
will fund through internally generated cash flows (the company's
EBITDA) and cash on the balance sheet. Over the past few years,
Gateway has faced some delays in capital deployment for a few of
its Ontario properties, resulting in a lag in EBITDA growth and
thus reducing the company's pace of deleveraging. Given that the
company's aggressive financial policy of paying debt-funded
dividends (the financial sponsors have upstreamed about C$500
million over the past three years) and limited balance-sheet
flexibility, there is an increased risk for Gateway's adjusted
debt-to-EBITDA to stay above 8x, the threshold for S&P's downside
trigger, for a prolonged period.

S&P's rating also incorporates Gateway's expansion into Ontario,
which improves EBITDA diversity; operations in a supportive
regulatory environment; large fixed rent associated with the sale
and lease-back of the three Vancouver properties; and operations in
the B.C. gaming market, which is relatively saturated and has less
potential for growth.

The negative outlook reflects S&P's view that there is a risk that
Gateway will be unable to reduce its adjusted debt-to-EBITDA below
8x over the next 12 months. Given the currently elevated 8x
adjusted debt to EBITDA (on a last 12 months basis pro forma the
central Ontario assets) and the company's significant capital build
program, S&P believes Gateway has limited headroom to accommodate
any operational underperformance to maintain the current ratings
over the next 12 months. At the same time, S&P assumes that the
company will be able to refinance the bridge loan at the GTWY
Holdings level in the near term.

S&P said it could lower the rating over the next 12 months if
Gateway's adjusted debt-to-EBITDA stays above 8x on a sustained
basis spurred by additional debt-funded shareholder distributions,
which could further delay the company's deleveraging.

"Alternatively, we could lower the rating in the next 12 months, if
the company experiences weak operating performance caused by a more
competitive landscape, increased marketing spending, and slower
revenue ramp-up of the Ontario gaming assets that lead to declining
adjusted EBITDA margins and stressed liquidity," S&P said. Such a
scenario could lead to credit metric deterioration with adjusted
debt-to-EBITDA to remain and be sustained above 8x, according to
the rating agency.

"We could revise the outlook to stable over the next 12 months if
the company's adjusted debt-to-EBITDA improves below 7.5x and
adjusted EBITDA interest coverage improves above 2x on a sustained
basis. Such a scenario could occur if Gateway continues to
experience EBITDA growth from its acquired Ontario assets amid
increased competition in a mature market," S&P said.
"Alternatively, we could revise the outlook to stable if the
financial sponsors make material debt repayments from the company's
prospective IPO proceeds, thereby improving the company's financial
risk profile with adjusted debt-to-EBITDA to remain and be
sustained below 7.5x."


GAVILAN RESOURCES: S&P Lowers ICR to CCC+ on Declining Production
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
oil and gas exploration and production company Gavilan Resources
LLC to 'CCC+' from 'B-' and removed its ratings on the company from
CreditWatch, where the rating agency placed them with negative
implications on Dec. 7, 2018.

At the same time, S&P lowered its issue-level rating on Gavilan's
second-lien term loan to 'CCC+' from 'B-'. The '3' recovery rating
remains unchanged.

The downgrade reflects S&P's revised assumptions for Gavilan's 2019
capital budget, production, and costs, which will increase its
leverage by significantly more than the rating agency previously
forecasts in 2019 and 2020. S&P now estimates that the company will
only spend the minimum amount required to hold its leases and meet
its development commitments this year (about $48 million), which is
down significantly from the over $255 million it spent in 2018
(both figures exclude capitalized interest). Based on this budget,
S&P expects Gavilan's production to decline by between 10% and 15%
this year before the declines accelerate in 2020. Therefore, the
rating agency forecasts that the company's FFO to debt will fall to
the 5%-10% range this year and approach 0% in 2020. While Gavilan's
liquidity is adequate, with about $170 million available on its
reserve-based loan as of March 31, 2019, S&P believes the company's
liquidity could weaken quickly if its production declines faster
than the rating agency expects or its costs rise by more than the
rating agency currently anticipates.

"The negative outlook on Gavilan reflects that, with our
expectation for minimal FFO in 2019 and 2020, the company's
liquidity could deteriorate quickly if its production declines
faster than we anticipate or its costs rise by more than we
expect," S&P said.  The rating agency currently projects that
Gavilan's production will decline by 10% to 15% this year and by
close to 20% in 2020 due to its sharply reduced capital spending
and the ongoing dispute with Sanchez Energy.

"We could lower our rating on Gavilan if its liquidity
deteriorates, which would most likely occur if its production
declines faster that we anticipate or its costs increase by more
than we expect. We could also downgrade the company if we envision
a specific default scenario in the next 12 months," S&P said.

"We could raise our rating on Gavilan if it is able to increase its
FFO to debt closer to 12% for a sustained period while maintaining
adequate liquidity. This would most likely occur if the joint
operating committee is able to agree on a capital budget that is
sufficient to sustain or grow production," S&P said.


GEX MANAGEMENT: Seeks More Capital Sources to Remain Going Concern
------------------------------------------------------------------
Gex Management, Inc., filed its quarterly report on Form 10-Q/A,
disclosing a net loss of $1,059 on $95,402 of revenues for the
three months ended March 31, 2019, compared to a net loss of
$555,820 on $3,578,575 of revenues for the same period in 2018.

At March 31, 2019 the Company had total assets of $9,167,401, total
liabilities of $5,924,831, and $3,242,569 in total shareholders'
equity.

To date, the Company has funded its operations primarily through
public and private offerings of common stock, its line of credit,
short- term discounted and convertible notes payable.  The Company
has identified several potential financing sources in order to
raise the capital necessary to fund operations through September
30, 2019.

The Company's Executive Director Srikumar Vanamali said, "In
addition to the current sources of capital that will provide
additional short-term liquidity, the Company is currently exploring
various other alternatives including debt and equity financing
vehicles, strategic partnerships, government programs that may be
available to the Company, as well as trying to generate additional
sales and increase margins.  However, at this time the Company has
no commitments to obtain any additional funds, and there can be no
assurance such funds will be available on acceptable terms or at
all.  If the Company is unable to obtain additional funding and
improve its operations, the Company's financial condition and
results of operations may be materially adversely affected and the
Company may not be able to continue operations, which raises
substantial doubt about its ability to continue as a going concern.
Additionally, even if the Company raises sufficient capital
through additional equity or debt financing, strategic alternatives
or otherwise, there can be no assurances that the revenue or
capital infusion will be sufficient to enable it to develop its
business to a level where it will be profitable or generate
positive cash flow.  If the Company raises additional funds through
the issuance of equity or convertible debt securities, the
percentage ownership of our stockholders could be significantly
diluted, and these newly issued securities may have rights,
preferences or privileges senior to those of existing stockholders.
If the Company incurs additional debt, a substantial portion of
its operating cash flow may be dedicated to the payment of
principal and interest on such indebtedness, thus limiting funds
available for business activities.  The terms of any debt
securities issued could also impose significant restrictions on the
Company's operations.  Broad market and industry factors may
seriously harm the market price of our common stock, regardless of
our operating performance, and may adversely impact our ability to
raise additional funds.  Similarly, if the Company's common stock
is delisted from the public exchange markets, it may limit its
ability to raise additional funds."

A copy of the Form 10-Q/A is available at:

                       https://is.gd/ZKy5GM

Gex Management, Inc. provides business management, professional
employer organization, and staffing solutions for small to midsize
businesses. It primarily provides payroll processing, human
resources (HR), staffing and general business consulting services.
The company's payroll processing services include tax filling and
remittance, and quarterly payroll tax reporting; and staffing
services comprise interview vetting, background check, drug
screening, onboarding and termination guidance, and company
operation troubleshooting. Its HR services include performance
evaluation and discipline system, consulting on sensitive HR
issues, paperwork audit, employee handbook, benefit plan
administration, worker's compensation programs, and risk and
compliance services; and general business consulting services
comprise strategic planning, mission statement and values
discovery, goal sessions, and company operation troubleshooting GEX
Management, Inc. was founded in 2004 and is based in Dallas, Texas.


GOLF VIEW: Valley Buying Cathedral City Property for $1.9 Million
-----------------------------------------------------------------
Golf View Lane LP asks the U.S. Bankruptcy Court for the Central
District of California to authorize the sale of the real property
generally known as 67884 McCallum Way, Cathedral City, California,
Parcel Number 677-610-037- Lots A & D, Lots 5-17, Cathedral City,
California to Valley Enterprises Ts Inc. or its designee, for $1.9
million, subject to overbid.

The Debtor has decided to sell the Property as part of its overall
goal to pay off the lienholders and creditors.  As the senior
lienholder has filed a Motion for Relief, there is risk that the
Debtor will not have sufficient time to propose a Plan of
Reorganization.  The sales will result in a small carve-out for
administrative expenses and unsecured creditors.

There are unpaid property taxes in the amount of approximately
$9,631.  These taxes will be paid in full out of escrow.   

     1. The first deed of trust holder is Keillor Capital which is
owed approximately $1,140,927 according to its Motion for Relief
from Stay.  The Debtor will pay Keillor in full.

     2. The second deed of trust holder is attorney Scott Zundel
who is owed $50,000.  The Debtor will pay Zundel in full.

     3. The third deed of trust holder is a trustee who holds a
deed of trust for four joint creditors who are owed approximately
$805,000.  The Debtor will pay the third lienholder the sum of
$575,000 out of escrow.  The Debtor must confirm that the third
priority lienholder will accept that amount and on what conditions.
That will be completed prior to the hearing on the sale.  Assuming
$85,000 in selling costs, that will leave the estate with $39,442
to pay administrative expenses and some to unsecured creditors.  

The parties have entered in to their Vacant Land Purchase Agreement
and Joint Escrow Instructions for the sale and purchase of the
Subject Property.  The proceeds of the sale are sufficient to pay
the senior lien Keillor Capital, Inc. as well as the second
priority lienholder Scott Zundel in full.  There will not be
sufficient funds available to pay the third priority lienholder in
full.  The Debtor is advised and is otherwise confident that the
third priority lienholder will agree to release its liens as well
as provide for certain carve-outs for the benefit of the estate in
the event there is insufficient funds to pay all in full.  

A summary of the terms of the proposed sale is as follows:

     1. Sale of the Subject Property to Valley Enterprises Ts Inc.,
or its designee for $1.9 million.

     2. The Buyer will deposit $25,000 into escrow.  The deposit
has been made into the escrow that has been opened with Closing
Agents Escrow, Inc. No  CA19-4339-S.  The Buyer will pay the
remainder of the purchase price at Closing.      

     3. The sale is not subject to a financing contingency.

     4. The Closing is expected to take place within 15 days after
entry of an Order of the Bankruptcy Court Approving the Sale.      


     5. The sale will be free and clear of all liens, claims,
encumbrances, and other interests.

     6. The sale is subject to overbids at the hearing.

     7. As part of the sale, the Debtor will pay a fee of 3.5% of
the Purchase Price as follows:  one-half to its real estate agent
Gary Keshishyan of Pinnacle Estate Properties Inc. and one-half to
Levis E. Pasco Obando.  If a person or entity other than the Buyer
herein is the successful bidder, and that person has a real estate
agent, the 3.5% commission will be split between Mr. Keshishyan and
the Buyer’s agent.      

     8. The sale is "as is," "where is" and is without any other
representation, warranty or assurance, made by the Debtor or any of
its agents, attorneys or other representatives, concerning the
value of the assets, except as such representations, warranties or
assurances are set forth in the PSA and except that the Debtor has
warranted that the assets transferred by it can be rightfully
transferred by it and are equal in value to the purchase price to
be received by the Debtor.

Any claims, liens, interests or encumbrances against the Debtor, if
not paid out of escrow at Closing will attach to the proceeds of
the sale, according to their respective priorities.   

The Debtor proposes to allow any other person or entity to overbid
the sale at the hearing set forth.  The Proposed bidding procedures
are as follows:

     1. On May 22, 2019, a prospective bidder must provide to the
Debtor's counsel a cashier's check for $100,000 as a deposit to be
held by Debtor's counsel.  If the prospective bidder is the
successful bidder, the Deposit will become non-refundable.  At
Closing, the Deposit will be applied to the Purchase Price.  In
lieu of this requirement, the prospective bidder may transfer by
wire transfer that sum to the Client Trust Account of Resnik Hayes
Moradi LLP.   

     2. The Prospective Bidder will also provide to the Debtor's
counsel, on May 22, 2019, proof of its ability to close on the same
terms as the PSA.   

     3) As all of the contingencies set forth in the PSA will have
been met by the time of the hearing on this motion, any overbid for
the Subject Property will be on the same terms and conditions, or
better, as is set forth in the Purchase and Sale Agreement.

     4) There will be no Contingency Period for any successful
overbidder.  The overbidder must close the sale within 15 days
after the Court enters its Order Approving the Sale.     

     5) The initial overbid must be at least $30,000 more than the
Purchase Price oor $1.930 million.  After the initial overbid,
additional overbids will be in increments of $5,000 each.

The Debtor asks the Court to waive the provisions of Federal Rule
of Bankruptcy Procedure 6004(g) with respect to the sale of assets,
and Federal Rule of Bankruptcy Procedure 6006(d) with respect to
any executory contract or unexpired lease assumed and assigned with
such sale of the Property.

A hearing on the Motion is set for May 28, 2019 at 11:00 a.m.
Objections, if any, must be filed at least 14 days prior to the
scheduled hearing date.

A copy of the Agreement attached to the Motion is available for
free at:

    http://bankrupt.com/misc/Golf_View_42_Sales.pdf

                   About Golf View Lane LP

Golf View Lane Limited Partnership is a single asset real estate
debtor (as defined in 11 U.S.C. Section 101(51B)).  Its principal
assets are located at 67800-67884 McCallum Way, Cathedral City,
California.

Golf View Lane Limited Partnership filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
19-10291) on Feb. 22, 2019.  At the time of the filing, the Debtor
disclosed $2,023,024 in total assets and $2,986,432 in total
liabilities.


GRAN TIERRA: Fitch Rates Proposed $300MM Unsecured Notes 'B'
------------------------------------------------------------
Fitch Ratings has assigned a 'B'/'RR4' rating to Gran Tierra Energy
Inc.'s USD300 million 7.75% notes due May 23, 2027. GTE expects to
use the proceeds from the offering to repay the outstanding amounts
borrowed under the revolving credit facility, capex, and for
general corporate purposes, which may include additional capital to
appraise and develop exploration discoveries, repayment of other
indebtedness, working capital and/or acquisitions of assets. Fitch
currently rates Gran Tierra Inc.'s wholly owned subsidiary, Gran
Tierra Energy International Holdings Ltd.'s Long-Term Foreign and
Local Currency Issuer Default Rating 'B' and its senior unsecured
notes 'B'/'RR4'. The Rating Outlook is Positive.

GTE's ratings incorporate a conservative capital structure and
low-cost operating profile, constrained by smaller scale and
limited geographic diversification. The Positive Outlook reflects
consistent annual growth of between four and five thousand barrels
of oil equivalent per day (boepd) over the last several years to an
average of 36,209 boe in fiscal 2018, and expanding geographic
diversification. Fitch's base case forecasts daily average gross
production to be 45,000 boe between 2019 and 2022.

KEY RATING DRIVERS

Expected Production Growth: Under Fitch's base case forecast, GTE
is expected to increase daily average production to above 45,000
boe by 2020 representing nearly 100% growth since 2015. In 2018,
the company's average production was 36,209 boepd with
approximately 95% of it concentrated in Putumayo and the Middle
Magdalena Basin. GTE's recent acquisition of working interests in
three blocks throughout Colombia for USD104.2 million should
immediately add approximately 2,200 boepd of production and 6.1
million boe of proved and probable reserves.

Strong Capital Structure: GTE finished 2018 with a strong debt
profile, reporting gross leverage of 1.0x and FFO to Interest
Coverage of 17.1x. Through the rating horizon, after the completion
of the proposed USD300 million senior unsecured notes, GTE should
maintain leverage average of 1.5x from 2019 through 2022 and FFO
Interest Coverage of 9.4x, which assumes the USD115 million
convertible notes is not tendered or repurchased, and the company
continues to fund investment with internal cash flow. Fitch
estimates that GTE will have an average cash flow from operations
of nearly USD370 million from 2019 through 2022, and average annual
capex over that time period of nearly USD200 million. In the event
GTE adopts a more aggressive development strategy, Fitch believes
it could result in additional debt, but the company continues to
have significant headroom at its current levels relative to its
rating category. GTE's 2018 issuance of USD300 million
significantly extended it maturity profile, further strengthening
GTE's ability to reinvest capital into increasing production and
reserve life.

Low Hydrocarbon Reserves: Fitch believes GTE's relatively low
reserve life of 5.0 years 1P reserves and 11.0 years proved and
probable (2P) reserves limits flexibility to reduce capex
investments. As of YE 2018, GTE's pro forma from the Vetra/VM-2
acquisitions reported Colombian 1P reserves of 70 million boe with
nearly 100% of production in oil. GTE has a strong concession life
with the earliest material concession expiring in 2033. This
concession currently accounts for approximately 22% of production.
Other concessions have longer expiration dates.

Investment Requirements Pressure Liquidity: Fitch's base case
expects neutral to positive FCF through the medium term providing
GTE the flexibility to increase capex and or make acquisitions in
order to improve its reserve life, which Fitch deems an inhibiting
factor of its rating, when compared to other 'B' category rated
peers. In 2018, GTE had negative FCF of USD116 million with USD400
million of capex (+40% yoy). Fitch anticipates capex of around
USD350 million in 2019, not including the aforementioned
acquisitions in Llanos, Suroriente and Putumayo, estimated to be
USD90 million. Between 2020 and 2022, Fitch forecast approximately
USD420 million of capex with resulting average cash balance of
roughly USD500 million between 2021-2022.

DERIVATION SUMMARY

GTE's credit profile compares well with other small, independent,
oil and gas companies in the region. Ratings for Frontera Energy
Corporation (B+/Negative), GeoPark Limited (B+/Stable) and Compania
General de Combustibles S.A. (CGC; B/Negative) are constrained to
the 'B' category, given the inherent operational risk associated
with small scale and low diversification production profiles.

GTE's capital structure and liquidity are comparable with its
independent oil and gas peers. As of YE 2018, leverage stood at
1.0x, with cash of USD84 million. Regional peers have comparable
leverage with GeoPark reporting 1.4x as of fiscal 2018 and Frontera
reporting 0.8x. GeoPark's cash balance was USD128 million, and
Frontera's was USD485 million. These capital structures are
considered strong for their rating category.

GTE's gross production profile is in line with some of its higher
rated peers with approximately 36,000 boepd but continues to be
constrained by its relatively low 1P reserve life of 5.0 years as
of YE 2018. GeoPark's annual production was around 36,000 boepd on
8.6 years of 1P reserve life. CGC's average production in 2018 was
above 30,000 boepd with reserve life of 6.2 years. Although GTE
remains smaller than Frontera, the companies' net production
profiles have seen distinct trajectories as GTE has grown from
23,400 boepd in 2015 to approximately 36,200 boepd in 2018, and is
expected to reach production of around 41,000 boepd in 2019. During
the same period, Frontera's production has fallen from 102,000
boepd to 58,000 boepd, with a current target of 60,000 boepd-65,000
boepd. At present levels, Frontera's reserve life is comparable to
GTE with 1P reserves of 5.0 years, but recovery in production would
likely push reserve life below five years.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  -- Fitch's price deck for Brent of 65 per barrel (bbl) for
     2019, USD62.50/bbl for 2020, USD60/bbl for 2021, and
     USD57.50bbl for the long term;

  -- Average gross production of 46,000 boe from 2019-2022;

  -- Total capex of USD 770 million 2019 through 2022 with
     an average annual investments/capex of USD190 million
     over the rating horizon;

  -- USD115 million convertible notes remain outstanding
     during the rated horizon;

  -- No acquisition during 2019-2022;

  -- No dividends paid during 2019-2022.

Key Recovery Rating assumptions:

  -- Recovery analysis assumes GTE would be liquidated in
     bankruptcy. Fitch assumed a 10% administrative claim;

  -- Liquidation approach:

  -- The liquidation estimate reflects Fitch's view of the
     value of inventory and other assets that can be realized
     in a reorganization and distributed to creditors:

  -- The 50% advance rate is typical of inventory liquidations
     for the oil and gas industry;

  -- The USD10bbl estimate reflects the typical valuation of
     recent reorganizations in the oil and gas industry. The
     waterfall results in a 100% recovery corresponding to an
     'RR1' for the senior unsecured notes of USD300 million.
     The RR is limited, however, to 'RR4' due to the soft cap
     for Colombia.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  -- Net production between 30,000 boepd-35,000 boepd on a
     sustained basis, combined with an increase in reserve
     size at or above 6.5 years and continued expansion of
     its geographic footprint;

  -- Sustained conservative capital structure and investment
     discipline, including improvement in debt-to-1P reserves
     of $5/bbl or lower.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  -- Gross production declines to below 30,000 boepd;

  -- A deterioration of capital structure and liquidity as a
     result of either a steeper than anticipated decline in
     production or a marked increase in debt;

  -- A significant reduction in the reserve replacement ratio
     could affect GTE's credit quality, given the current proved
     reserve life of approximately five years.

LIQUIDITY

Adequate Liquidity: Although it is constrained by the GTE's
significant investment requirements, Fitch believes the company has
adequate liquidity through the medium term. Fitch anticipates
approximately USD200 million of cash on hand annually between 2019
through 2020, with largely neutral to negative FCF through the
investment cycle. This compares with USD47 million of annual
interest expense, and limited maturities through the medium term.

FULL LIST OF RATING ACTIONS

Fitch has assigned the following rating:

Gran Tierra Energy Inc.

  -- USD300 million 7.75% senior unsecured notes due May
     23, 2027 'B'/'RR4'.

Fitch currently rates the following:

Gran Tierra Energy International Holdings Ltd.

  -- Long-Term Foreign Currency Issuer Default Rating (IDR) 'B';

  -- Long-Term Local Currency IDR 'B';

  -- Senior unsecured debt 'B'/'RR4'.

The Rating Outlook remains Positive.


GREEN DOT: Fitch Cuts Rating on $7MM 2011A Bonds to 'BB+'
---------------------------------------------------------
Fitch Ratings has downgraded the rating on approximately $7.5
million of series 2011A bonds issued by the California Statewide
Communities Development Authority on behalf of Green Dot Public
Schools California, Animo Inglewood Charter High School to 'BB+'
from 'BBB-'. In addition, Fitch has assigned an Issuer Default
Rating of 'BB+' for AICHS.

The Rating Outlook is Stable.

SECURITY

The bonds are payable from pledged revenues of AICHS, including
local control funding formula (LCFF) funds from the state of
California (IDR AA-/Outlook Stable). A cash-funded debt service
reserve is equal to maximum annual debt service (MADS).

ANALYTICAL CONCLUSION

The downgrade to 'BB+' is due to the application of Fitch's revised
"U.S. Public Finance Charter School Rating Criteria." The revised
criteria place increased focus on leverage relative to revenue
defensibility and operating risk. The school has midrange revenue
defensibility characteristics and ability to control expenditures;
nevertheless, elevated leverage metrics, including debt and a
Fitch-calculated net pension liability, weigh on the rating.

GDPSC is a non-profit charter school management organization
serving over 11,000 students across a network of 20 schools in CA
in the greater Los Angeles area. In exchange for a shared services
fee, AICHS has access to GDPSC's vendor contracts, academic and
financial management support, and fundraising capabilities.

KEY RATING DRIVERS

Revenue Defensibility: Midrange: AICHS's midrange revenue
defensibility is supported by its solid academic performance,
history of stable enrollment, and strong demand bolstered by a
substantial waitlist. The school has some flexibility to enroll
additional students, but like most charter schools, lacks control
over tuition rate setting.

Operating Risk: Midrange: The school has midrange flexibility to
vary cost with enrollment shifts. Fitch considers AICHS's carrying
costs for debt service and pension contributions to be low.

Financial Profile: 'bb': AICHS's leverage metrics are consistent
with a 'bb' assessment in the base case, and Fitch expects them
return to that level in the third year of Fitch's forward-looking
rating case.

RATING SENSITIVITIES

DECLINE IN FINANCIAL PERFORMANCE: The Stable Outlook reflects
Fitch's expectations that AICHS will maintain sustained operating
margins that will continue to support the current leverage ratios.
A decline in cash flow to support debt service could lead to a
downgrade.

CREDIT PROFILE

Animo Inglewood is a charter high school located in Inglewood, CA.
Certified in 2001 and initiating operations in 2002 with 140
freshman students, AICHS has received three charter renewals since
creation, most recently in 2015 for a full five-year term. AICHS's
history of renewals and strong academic track record partially
offset the renewal risk inherent in any charter school.

Revenue Defensibility

AICHS's midrange revenue defensibility is supported by healthy
demand flexibility evidenced by a large and regularly updated wait
list, stronger historical academic performance compared to other
Inglewood city high schools, and enrollment trends at close to
capacity. Typical of the charter school sector, revenue
defensibility is limited by the inability to control pricing as the
school's main revenue source is derived from per pupil revenue from
the state.

AICHS has had solid academic results that drive sound demand and
enrollment. The school's results on assessment tests have exceeded
those at comparable schools from 2015 through 2017 in both math and
English language arts. Test scores declined in the 2018 school
year, but are still higher than other Inglewood high schools and
remain in line with statewide scores. AICHS is close to fully
enrolled with 633 students in the recent school year, with capacity
to increase to 650 under its charter. Enrollment has been stable at
close to the current level since 2012. The school maintains an
up-to-date waitlist of 357 students, over 50% of enrollment. Fitch
views AICHS's strong demand as a source of financial flexibility.

Per-pupil revenue to AICHS has grown over the last ten years. Fitch
expects funding to grow at a rate above inflation, but below GDP
growth, in line with other California schools with stable
enrollment that are funded under the LCFF.

Operating Risk

Fitch considers the school's operating risk profile to be midrange
considering the school's fixed carrying costs and flexibility to
control other expenditures. The school has well-identified cost
drivers, largely teacher salaries and fringe benefits, which have
low potential volatility.

The school has midrange control over expenditures and is somewhat
limited in its practical ability to reduce the number of teachers
due to the need to maintain student teacher ratios specified in the
teacher contract and the need to provide a sufficient number of
subject matter teachers in each grade. Teachers are currently in
the second year of a three-year contract with 3% annual raises,
which is a higher rate of growth than Fitch assumes for growth in
LCFF revenues. Any change to the current teacher contract would
have to be negotiated.

Management has identified several expenditure items that it could
reduce or hold flat in a downturn, including reducing professional
development costs, and decreasing supplies and administrative
costs. The management organization provides a central support
function to the school, including educational support and finance,
accounting, and human resource management, reducing cost pressures
from those areas.

AICHS's fixed costs for debt service and pension contributions are
low at less than 15% of revenue. This amount includes maximum
annual debt service on the bonds and current pension contributions,
which Fitch expects to increase. The district participates in two
state-funded pension systems, CalSTRS and CalPERS, both of which
are mandating increasing employer contributions over the next few
years to improve their funded ratios.

Management reports that it does not have any significant projected
capex requirements, although Fitch expects carrying costs to
increase modestly given expectations for increasing pension
contributions.

Financial Profile

AICHS's leverage is consistent with a 'bb' assessment,
incorporating Fitch's forward-looking rating case.

The school's 'bb' financial profile assessment is supported by its
solid operating margin, limited by elevated leverage. Net debt
(including Fitch-calculated net pension liabilities) to cash flow
available for debt service (CFADS) has fluctuated between
approximately 8x and 11x over the last three years, averaging
around 11x over that time. Fitch does not incorporate cash held by
GDPSC in its analysis of net debt. The base case assumes growth in
both revenues and expenditures at a rate above inflation and below
GDP growth and constant net pension liabilities. In this scenario,
the school's net debt to CFADS continues to decline to under 11x
over the next three years, which Fitch considers to be in the 'bb'
financial profile assessment range given the school's revenue
defensibility and operating risk assessments.

Fitch's rating case incorporates a revenue stress utilizing the
FAST model for States & Locals. Fitch's scenario shows a 1% GDP
decline in year one resulting in a 2.4% decrease in the school's
revenue followed by revenue recovery in the second and third years.
The school's model-generated net debt to CFADS metric increases to
over 15x in the first year of the scenario analysis, but improves
to approximately 10x by the third year. However, Fitch believes the
level of recovery indicated by FAST is somewhat overstated, as FAST
data incorporate several years of rapidly increasing LCFF funding
and a significant increase in enrollment, which Fitch does not
expect to recur. Nevertheless, Fitch expects leverage to remain in
the range of a 'bb' financial profile assessment.


H-FOOD HOLDINGS: S&P Raises Sr. Sec. First-Lien Debt Rating to 'B'
------------------------------------------------------------------
S&P Global Ratings raised its issue-level rating on H-Food Holdings
LLC's senior secured first-lien debt by one notch to 'B' from 'B-'
because the company's senior secured first-lien debt balances are
lower than it previously anticipated, leading to improved recovery
prospects. At the same time, S&P revised its recovery rating on the
debt to '2' from '3'. The '2' recovery rating indicates its
expectation for substantial recovery (70%-90%; rounded estimate:
70%) in the event of a payment default.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

The company's debt capital structure consists of:

-- A $225 million revolving credit facility maturing in 2023;
-- A $1.14 billion first-lien term loan due 2025;
-- A $515 million incremental first-lien term loan due 2025;
-- A $300 million second-lien term loan due 2026 (unrated); and
-- $350 million of 8.5% senior notes due 2026.

The issuer of the revolver and term-loan is H-Food Holdings LLC.
Dutch operating subsidiary Hearthside Bidco B.V. is a co-borrower
on the term loan, which supports the company's international
operations. The guarantors of the facility are H-Food Holdings and
all of its direct and indirect wholly owned material domestic and
Dutch subsidiaries. The facility is secured by a first-priority
lien on substantially all of the assets and stock of the borrowers
and H-Food Holdings' domestic subsidiaries and Dutch subsidiaries.
The second-lien term loan is secured on a secondary basis to the
collateral mentioned above. The notes are senior unsecured
obligations and subordinated to the senior secured credit
facilities.

H-Food is a U.S.-based corporation headquartered in Downers Grove,
Ill. In the event of insolvency proceedings, S&P anticipates that
the company would file for bankruptcy protection under the auspices
of the U.S. federal bankruptcy court system and would not involve
other foreign jurisdictions.

S&P believes creditors would receive maximum recovery in a payment
default scenario if the company was reorganized rather than
liquidated. Therefore, in evaluating the recovery prospects for
debtholders, S&P assumes the company continues as a going concern
and arrive at its emergence enterprise value by applying a multiple
to its assumed emergence EBITDA.

Simulated default assumptions

-- S&P's simulated default scenario assumes a default occurring in
2021 due to the loss of a major customer, such as Tyson, General
Mills, Mondelez, or Kraft Heinz, and increased competition from
both branded and private-label products.

Calculation of EBITDA at emergence:

-- Debt service: $191.6 million (default year interest plus
amortization)

-- Maintenance capital expenditure: $27.7 million

-- Emergence EBITDA: $219 million

-- Operational adjustment: $22 million (10%)

-- Emergence EBITDA after adjustment: $241 million

-- S&P estimates a $1.4 billion gross emergence enterprise value,
which incorporates a 6x multiple of emergence EBITDA. This multiple
is in line with the multiples it uses for other U.S.-based packaged
food issuers. S&P applies an operational adjustment because it
believes the company can recoup some value after emerging from
bankruptcy.

Simplified waterfall

-- Emergence EBITDA: $241 million
-- Multiple: 6x
-- Gross recovery value: $1.4 billion
-- Net recovery value for waterfall after admin. expenses (5%):
$1.4 billion
-- Obligor/nonobligor valuation split: 91%/9%
-- Estimated first-lien claims: $1.9 billion
-- Value available for first-lien claims: $1.3 billion
-- Recovery expectations: 70%-90% (rounded estimate: 70%)
-- Estimated senior unsecured claims: $364.9 million
-- Value available for unsecured claims: $43.3 million
-- Recovery expectations: 0%-10% (rounded estimate: 0%)

  Ratings List
  Upgraded; Recovery Rating Revised  
                        To          From
  H-Food Holdings LLC

  Senior Secured        B          B-
  Recovery Rating  2(70%) 3(65%)

  Hearthside Bidco B.V.

  Senior Secured   B           B-
  Recovery Rating  2(70%) 3(65%)


HAAKINSON INC: Seeks to Hire Stokes Law as Bankruptcy Counsel
-------------------------------------------------------------
Haakinson Inc. seeks approval from the U.S. Bankruptcy Court for
the District of Utah to hire Stokes Law PLLC as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     a. advise the Debtor of its powers and duties under the
Bankruptcy Code;

     b. take all necessary actions to protect and preserve the
Debtor's estate;

     c. assist in preparing and presenting the Debtor's proposed
plan of reorganization and all related transactions; and

     d. represent the Debtor in connection with the hearing on plan
confirmation and all related matters.

Ted Stokes, Esq., the attorney who will be handling the case, will
charge an hourly fee of $250.  The hourly rates for paralegals
range from $75 to $125.

Stokes Law received an initial retainer of $3,717 from the Debtor
and will be paid $2,500 per month commencing on June 20 as an
additional retainer .

Stokes Law is "disinterested" as defined in Section 101(14) of the
Bankruptcy Code, according to court filings.

The firm can be reached through:

        Ted F. Stokes, Esq.
        Stokes Law PLLC
        2072 North Main, Suite 102
        North Logan, UT 84341
        Telephone: (435) 213-4771
        Facsimile: (888) 443-1529
        E-mail: ted@stokeslawpllc.com

           About Haakinson Inc.

Haakinson Inc., a privately held company that provides services to
buildings and dwellings, filed a voluntary Chapter 11 petition
(Bankr. D. Utah Case No. 19-23739) on May 23, 2019. In the petition
signed by Annette Haakinson, president, the Debtor estimated $1
million to $10 million in assets and $500,000 to $1 million in
liabilities.  

The case has been assigned to Judge Joel T. Marker.  Theodore Floyd
Stokes, Esq., at Stokes Law PLLC, represents the Debtor as
bankruptcy counsel.


HELIX TCS: Insufficient Cash Casts Going Concern Doubt
------------------------------------------------------
Helix TCS, Inc. filed its Form 6-K, disclosing a net loss of
$10,841,701 on $3,371,107 of total revenues for the three months
ended March 31, 2019, compared to a net loss of $438,677 on
$1,128,338 of total revenues for the same period in 2018.

At March 31, 2019 the Company had total assets of $62,998,481,
total liabilities of $16,578,869, and $46,419,612 in total
shareholders' equity.

The Company's Chief Executive Officer Zachary L. Venegas and Chief
Financial Officer Scott Ogur said, "The Company believes that there
is substantial doubt about the Company's ability to continue as a
going concern.  The Company believes that its available cash
balance as of the date of this filing will not be sufficient to
fund its anticipated level of operations for at least the next 12
months.  The Company believes that its ability to continue
operations depends on its ability to sustain and grow revenue and
results of operations as well as its ability to access capital
markets when necessary to accomplish the Company's strategic
objectives.  The Company believes that it will continue to incur
losses for the immediate future.  The Company expects to finance
future cash needs from its results of operations and, depending on
the results of operations, the Company may need additional equity
or debt financing until it can achieve profitability and positive
cash flows from operating activities, if ever.

At March 31, 2019, the Company had a working capital deficit of
$11,831,659, as compared to a working capital deficit of $2,233,652
at December 31, 2018.  The increase of $9,598,007 in the Company's
working capital deficit from December 31, 2018 to March 31, 2019
was primarily the result of a non-cash increase in the fair market
value of Company's convertible notes payable, net of discount.

Messrs. Venegas and Ogur further stated, "The Company's future
capital requirements for its operations will depend on many
factors, including the profitability of its businesses, the number
and cash requirements of other acquisition candidates that the
Company pursues, and the costs of operations.  The Company has been
investing in expanding its operation in new states, its security
service in Colorado, and upgrading the capabilities of BioTrackTHC.
The Company's management has taken several actions to ensure that
it will have sufficient liquidity to meet its obligations for the
next twelve months, including growing and diversifying its revenue
streams, selectively reducing expenses, and considering additional
funding.  Additionally, if the Company's actual revenues are less
than forecasted, the Company anticipates that variable expenses
will also decline, and the Company's management can implement
expense reduction as necessary.  The Company is evaluating other
measures to further improve its liquidity, including the sale of
equity or debt securities.  Lastly, the Company may elect to reduce
certain related-party and third-party debt by converting such debt
into common shares.  The Company's management believes that these
actions will enable the Company to meet its liquidity requirements
through May 16, 2020.  There is no assurance that the Company will
be successful in any capital-raising efforts that it may undertake
to fund operations during 2019 and beyond."

A copy of the Form 6-K is available at:

                       https://is.gd/2I35jX

Helix TCS, Inc., provides technology, compliance, and security
solutions to the legal cannabis industry in the United States,
Colombia, Canada, Jamaica, New Zealand, and Australia.  The company
offers security solutions to cannabis businesses, including
assessments and planning, security system design and
implementation, asset protection, transport, and assurance of
security for the state licensing process.  Its security products
and services include IP CCTV systems, intrusion alarm systems,
perimeter alarm systems, access control, and security consulting.
The company also provides physical security solutions, such as
armed and unarmed guards, armored transport, background checks,
investigations, and risk assessment, as well as armed
transportation services.  In addition, it operates Cannabase, an
online community for registered legal cannabis license holders.
Further, the company develops and licenses seed to sale cannabis
compliance software to private-sector and public-sector clients
that are involved in cannabis related operations; and offers
on-going training, support, and software customization services.
Helix TCS, Inc., is headquartered in Denver, Colorado.



HEXION HOLDINGS: Milbank, Morris Represent Crossholder Group
------------------------------------------------------------
In Hexion Holdings, LLC, et al.'s Chapter 11 cases, Milbank LLP and
Morris, Nichols, Arsht & Tunnell LLP submitted a verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure
in connection with their representation in these chapter 11 cases
of an ad hoc committee of certain beneficial holders and/or
investment managers or advisors to certain beneficial holders of
the 6.625% Notes, the 10% Notes, the 10.375% Notes, the 1.5L Notes,
the 2L Notes, the 9.20% Debentures, and the 7.875% Debentures,
dubbed the Crossholder Ad Hoc Group.

The Crossholder Ad Hoc Group retained Milbank as counsel in May
2018.  In March 2019, the Crossholder Ad Hoc Group retained MNAT to
serve as Delaware counsel.

From time to time thereafter, certain holders of Notes have joined
and resigned from the Crossholder Ad Hoc Group.

As of April 30, 2019, members of the Crossholder Ad Hoc Group are:

    1. Aegon USA Investment Management, LLC
       155 N. Wacker Drive, Suite 1850
       Chicago, IL 60606
       * 1L Notes: $53,506,000
       * 1.5L Notes: $18,195,000
       * Unsecured Notes:  $40,633,000

    2. Aurelius Capital Master, Ltd.
       c/o Aurelius Capital Management, LP
       535 Madison Avenue, 31st Floor
       New York, NY 10022
       * 1L Notes:  $4,000
       * 1.5L Notes:  $2,000
       * 2L Notes:  $29,000,000

    3. Avenue Capital Management II, L.P.
       399 Park Avenue, 6th Floor
       New York, NY 10022
       * 1L Notes: $13,776,000
       * 2L Notes:  $27,511,000

    4. Avenue Europe International Management, L.P.
       399 Park Avenue, 6th Floor
       New York, NY 10022
       * 1L Notes:  $39,725,000
       * 2L Notes:  $16,363,000

    5. Benefit Street Partners, LLC
       9 West 57th Street
       New York, NY 10019
       * 1L Notes:  $107,073,000
       * 2L Notes:  $48,606,000

    6. Cyrus Capital Partners, LP
       65 East 55th Street, 35th Floor
       New York, NY 10022
       * 1L Notes:  $122,392,000
       * 1.5L Notes:  $16,000,000
       * 2L Notes:  $91,009,000
       * Unsecured Notes:  $13,328,000

    7. KLS Diversified Asset Management LLC
       452 5th Avenue, 22nd Floor
       New York, NY 10018
       * 1L Notes:  $20,000,000
       * 2L Notes:  $59,805,000

    8. Loomis, Sayles & Company L.P.
       One Financial Center
       Boston, MA 02111-2621
       * 1L Notes:  $58,517,000
       * 2L Notes:  $71,435,000
       * Unsecured Notes:  $145,888,000

    9. Monarch Alternative Capital LP
       535 Madison Avenue, 26th Floor
       New York, NY 10022
       * 1L Notes:  $199,222,000
       * 2L Notes:  $79,401,000
       * Unsecured Notes:  $28,232,000

   10. New Generation Advisors, LLC
       13 Elm Street, Suite 2
       Manchester, MA 01944
       * 1L Notes:  $4,000,000
       * 1.5L Notes:  $12,670,000
       * 2L Notes:  $17,980,000

   11. P. Schoenfeld Asset Management LP
       1350 6th Avenue
       New York, NY 10019
       * 1L Notes:  $16,343,000
       * 2L Notes:  $9,067,000

The Crossholder Ad Hoc Group's attorneys:

         Robert J. Dehney, Esq.
         Andrew R. Remming, Esq.
         MORRIS, NICHOLS, ARSHT & TUNNELL LLP
         1201 North Market Street, 16th Floor
         P.O. Box 1347
         Wilmington, Delaware 19899
         Telephone: (302) 658-9200
         Facsimile: (302) 658-3989
         E-mail: rdehney@mnat.com
                 aremming@mnat.com

              - and -  

         Dennis F. Dunne, Esq.
         Samuel A. Khalil, Esq.
         Matthew L. Brod, Esq.
         MILBANK LLP
         55 Hudson Yards
         New York, New York 10001
         Telephone: (212) 530-5000
         Facsimile: (212) 530-5219
         E-mail: ddunne@milbank.com
                 skhalil@milbank.com
                 mbrod@milbank.com

                     About Hexion Holdings

Based in Columbus, Ohio, Hexion Inc. -- https://www.hexion.com/ --
is a producer of thermoset resins or thermosets, and a producer of
adhesive and structural resins and coatings.  Hexion Inc. employs
4,000 people around the world, including 1,300 in the U.S. across
27 production facilities.

Hexion Holdings LLC is the sole member of Hexion LLC, which is the
sole owner of Hexion Inc.

Hexion Holdings LLC and 17 of its subsidiaries, including Hexion
Inc., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 19-10684) on April 1, 2019.

At the time of the filing, the Debtors estimated assets and
liabilities of between $1 billion and $10 billion.  As of the
Petition Date, the debtors had funded debt outstanding of
approximately $3.8 billion.

The cases are assigned to Judge Kevin Gross.

The Debtors tapped Latham & Watkins LLP and Richards, Layton &
Finger, P.A., as bankruptcy counsel; Paul Weiss Rifkind Wharton &
Garrison LLP, as special financing and securities; Moelis & Company
LLC as financial advisor; AlixPartners LLP as restructuring
advisor; and Omni Management Group as claims, noticing,
solicitation and balloting agent.

The Office of the U.S Trustee formed an official committee of
unsecured creditors on April 10, 2019.  The committee tapped Bayard
P.A. and Kramer Levin Naftalis & Frankel LLP as its legal counsel.
FTI Consulting Inc. is the committee's financial advisor.


HEXION HOLDINGS: Plan Confirmation Hearing Set for June 24
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will hold a
hearing on June 24, 2019, at 10:00 a.m. (Prevailing Eastern Time)
to consider confirmation of the second amended joint Chapter 11
plan of reorganization of Hexion Holdings LLC and its
debtor-affiliates.  Objections to the confirmation, if any, are due
no later than 4:00 p.m. (Prevailing Eastern Time) on June 17,
2019.

The Court approved the adequacy of the Debtors' disclosure
statement explaining their Second Amended Joint Chapter 11 Plan on
May 22, 2019.

                   About Hexion Holdings

Based in Columbus, Ohio, Hexion Inc. -- https://www.hexion.com/ --
is a producer of thermoset resins or thermosets, and a producer of
adhesive and structural resins and coatings.  The company is
incorporated in New Jersey while most of its co-debtors are
Delaware limited liability companies or Delaware corporations.
Hexion Inc. is the direct or indirect parent of the debtors and the
non-debtor affiliates.

Hexion Holdings LLC is the sole member of Hexion LLC, which is the
sole owner of Hexion Inc.

Hexion Inc. employs 4,000 people around the world, including 1,300
in the U.S. across 27 production facilities.

Hexion Holdings LLC and its co-debtors sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
19-10684) on April 1, 2019.  At the time of the filing, the Debtors
estimated assets and liabilities of between $1 billion and $10
billion.

The cases are assigned to Judge Kevin Gross.

The Debtors tapped Latham & Watkins LLP and Richards, Layton &
Finger, P.A., as bankruptcy counsel; Paul Weiss Rifkind Wharton &
Garrison LLP, as special financing and securities; Moelis & Company
LLC as financial advisor; AlixPartners LLP as restructuring
advisor; and Omni Management Group as claims, noticing,
solicitation and balloting agent.

The Office of the U.S Trustee appointed an official committee of
unsecured creditors on April 10, 2019.  The committee tapped Bayard
P.A. and Kramer Levin Naftalis & Frankel LLP as its legal counsel.


HEXION INC: Unsecureds Creditors to be Paid in Full Under Plan
--------------------------------------------------------------
Hexion Inc. and its affiliates filed a disclosure statement for its
second amended joint chapter 11 plan of reorganization.

The Debtors are proposing the Plan following extensive
arm's-length, good-faith discussions with certain of their key
stakeholders. These discussions have resulted in significant
majorities of the Holders of the Debtors' funded indebtedness
agreeing to support the restructuring contemplated by the Plan and
vote to accept the Plan pursuant to a Restructuring Support
Agreement entered into immediately prior to the commencement of the
Chapter 11 Cases by and among the Debtors and the other parties
thereto, including certain Holders of First Lien Notes Claims and
certain Holders of Junior Notes Claims and Holders of Interests in
Hexion Holdings LLC.

In connection with negotiating the Restructuring Support Agreement,
the Debtors and three separate groups of Holders of the Debtors'
funded indebtedness exchanged several proposals and
counterproposals regarding the terms of a comprehensive
restructuring, and the parties conferred on numerous occasions in
an attempt to achieve a global consensus with respect to the same.
The Plan reflects such a consensus, and the Debtors and the
Consenting Parties believe the Plan represents the best available
option for all creditors and parties in interest.

Under the Plan, the Debtors will restructure their prepetition
funded debt obligations with the proceeds of $1.641 billion in New
Long-Term Debt and a $300 million Rights Offering for New Common
Equity, in each case backstopped by certain Consenting Noteholders.
The Reorganized Debtors will also enter into a New ABL Credit
Facility as of the Effective Date. General Unsecured Claims, which
include inter alia all trade-related Claims, Claims arising from
the rejection of Unexpired Leases or Executory Contracts and Claims
arising from any litigation or other court, administrative or
regulatory proceeding, will be paid in full or otherwise left
Unimpaired. Holders of Allowed First Lien Notes Claims will receive
their pro rata share of (a) Cash in the amount of $1,450,000,000
(but less the sum of Adequate Protection Payments paid on account
of the First Lien Notes during the Chapter 11 Cases), (b) 72.5% of
New Common Equity (subject to the Agreed Dilution), and (c) 72.5%
of the Rights to purchase additional New Common Equity pursuant to
the Rights Offering. Holders of Allowed 1.5L Notes Claims, Second
Lien Notes Claims, and Borden Debenture Claims will receive their
pro rata share of (a) 27.5% of the New Common Equity (subject to
the Agreed Dilution) and (b) 27.5% of the Rights to purchase
additional New Common Equity pursuant to the Rights Offering. The
Agreed Dilution results from the Rights Offering, the Management
Incentive Plan, and certain premiums payable under the Equity
Backstop Agreement and the Debt Backstop Agreement (to the extent
such premiums due under such agreements are elected to be received
in the form of New Common Equity). Holders of Equity Interests will
receive no distributions and all such Equity Interests will be
cancelled.

The Plan contains standard means of implementation, including
provisions authorizing the Debtors to engage in corporate
restructuring transactions (including incurring the New Debt and
issuing the New Common Equity), provisions regarding cancellation
of prepetition debt agreements and equity interests, provisions
specifying the sources of Plan distributions, provisions regarding
the Reorganized Debtors' corporate existence and corporate
governance, and the vesting of assets in the Reorganized Debtors,
among other matters.

A copy of the Second Amended Disclosure Statement is available at
https://tinyurl.com/y26cdn98  from omnimgt.com at no charge.

                    About Hexion Holdings

Based in Columbus, Ohio, Hexion Inc. -- https://www.hexion.com/ --
is a producer of thermoset resins or thermosets, and a producer of
adhesive and structural resins and coatings.  The company is
incorporated in New Jersey while most of its co-debtors are
Delaware limited liability companies or Delaware corporations.
Hexion Inc. is the direct or indirect parent of the debtors and the
non-debtor affiliates.

Hexion Holdings LLC is the sole member of Hexion LLC, which is the
sole owner of Hexion Inc.

Hexion Inc. employs 4,000 people around the world, including 1,300
in the U.S. across 27 production facilities.

Hexion Holdings LLC and its co-debtors sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
19-10684) on April 1, 2019.  At the time of the filing, the Debtors
estimated assets and liabilities of between $1 billion and $10
billion.

The cases are assigned to Judge Kevin Gross.

The Debtors tapped Latham & Watkins LLP and Richards, Layton &
Finger, P.A., as bankruptcy counsel; Paul Weiss Rifkind Wharton &
Garrison LLP, as special financing and securities; Moelis & Company
LLC as financial advisor; AlixPartners LLP as restructuring
advisor; and Omni Management Group as claims, noticing,
solicitation and balloting agent.

The Office of the U.S Trustee appointed an official committee of
unsecured creditors on April 10, 2019.  The committee tapped Bayard
P.A. and Kramer Levin Naftalis & Frankel LLP as its legal counsel.


INVENERGY THERMAL: S&P Places 'BB' Sr. Debt Rating on Watch Dev.
----------------------------------------------------------------
S&P Global Ratings placed the ratings on Invenergy Thermal
Operating I LLC's (ITOI) $350 million term loan B due in 2025 and
its $65 million first-lien working capital facility due in 2023 on
CreditWatch with developing implications.

"The CreditWatch placement reflects our determination that there
has been an analytical error involving a misapplication of criteria
on these ratings as it relates to the analysis of a holding company
with encumbered and unencumbered subsidiaries, which are not all
wholly owned," S&P said.

"We are placing the ratings on CreditWatch during which time we
will be reassessing the appropriate analytical approach to rate the
term loan and the working capital facility associated with this
transaction. The CreditWatch Developing placement reflects the
possibility that the rating may be revised downward or upward, or
remain the same," S&P said.

The CreditWatch placement is not related to operational or
financial performance at ITOI.

S&P expects to resolve the CreditWatch placement within
approximately 90 days.

Project Description

ITOI owns a 2.68-GW (net capacity) portfolio of seven operating
gas-fired electric power plants, each in a different North American
Electric Reliability Corp. region.

The portfolio consists of (on a gross capacity basis):

-- Hardee, a contracted 370-MW combined-cycle gas turbine (CCGT)
in Florida, 51% owned by ITOI;

-- Spindle Hill, a contracted 314-MW combustion turbine (CT) in
Colorado, 51% owned by ITOI;

-- Cannon Falls, a contracted 357-MW CT in Minnesota, 51% owned by
ITOI;

-- St. Clair, a contracted 584-MW CCGT in Ontario, Canada, 100%
owned by ITOI;

-- Nelson, a mostly merchant 615-MW CCGT in Illinois, 100% owned
by ITOI;

-- Ector County, a merchant 330-MW CT in Texas that benefits from
a heat rate call option from 2018 through 2022, 100% owned by ITOI;
and

-- Grays Harbor, a merchant (as of 2020) 620-MW CCGT in Washington
State, 100% owned by IOTI.

The CreditWatch placement on ITOI's 'BB' rated senior debt follows
the discovery of an analytical error involving the application of
S&P's project finance criteria in the analysis of the structure for
this transaction. The developing implications for S&P's CreditWatch
action -- which means the ratings may be upgraded, downgraded, or
affirmed -- reflect the fact that the rating agency will be
reassessing the appropriate analytical approach to be used for the
ratings and that the possible rating impact of this reassessment,
if any, is uncertain at this stage. A CreditWatch listing, however,
does not mean a rating change is inevitable, according to the
rating agency.

"We expect to resolve the CreditWatch listing within approximately
90 days following our reassessment of the appropriate analytical
approach to rate the debt for transaction. That process may lead us
to lower, raise, or affirm the rating," S&P said.


JAGGED PEAK: S&P Affirms 'B' ICR on Higher Proved Reserves
----------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit ratings on
Denver-based oil and natural gas exploration and production (E&P)
company Jagged Peak Energy Inc. (JAG) and its subsidiary, Jagged
Peak Energy LLC.

At the same time, S&P raised its issue-level rating on JAG's senior
unsecured notes to 'B+' from 'B' and revised the recovery rating to
'2', indicating the rating agency's  expectation of substantial
(70%-90%; rounded estimate: 80%) recovery in the event of a payment
default, from '3'.

The affirmation is based on S&P's expectation that JAG will
increase overall production by approximately 17% in 2019 as it
continues to develop its acreage. While S&P forecasts the company
will significantly outspend cash flow by $225 million-$250 million
over the next couple of years, the rating agency expects leverage
to remain at about 1.6x on average and FFO to debt of about 50%
based on its production, price, and cost assumptions due to growing
EBITDA and cash flows. The higher issue-level rating on the
company's $500 million senior unsecured notes is based on an
improved PV-10 valuation as of year-end 2018, and a reserve-based
credit facility of $900 million, with elected commitments of $540
million.

The stable outlook reflects S&P's expectation that JAG will
continue to grow its reserves and production using an average of
five rigs. The rating agency projects that the company will
continue to outspend cash flow but maintain FFO/debt above 40% and
debt/EBITDA below 2x over the next two years.

"We could lower the rating if we expected FFO/debt to fall below
12% or debt/EBITDA to exceed 5x with no near-term remedy, or if
liquidity deteriorated. This would most likely occur if commodity
prices were to significantly weaken, the company did not meet our
oil production growth expectations, or there was a leveraging
transaction," S&P said.

"An upgrade would be possible if we reassessed JAG's financial
policy, or if the company continues to improve the scale of its
reserves and production is more consistent with that of higher
rated peers (including increasing the content of its proved
developed reserves), while maintaining adequate liquidity and FFO
to debt above 20%," S&P said.


JAGUAR HEALTH: Refinances $10.5 Million of Secured Debt
-------------------------------------------------------
Jaguar Health, Inc., said it has received a one-year extension on
approximately $10.5 million aggregate amount of secured debt that
was previously scheduled to mature on Dec. 31, 2019.

The Existing Debt was incurred in conjunction with the merger of
Jaguar Animal Health, Inc. and Napo Pharmaceuticals, Inc. Following
the merger, which became effective July 31, 2017, Jaguar Animal
Health's name changed to Jaguar Health, Inc. and Napo began
operating as a wholly-owned subsidiary of Jaguar focused on human
health and the ongoing commercialization of, and development of
follow-on indications for Mytesi (crofelemer), the Company's
FDA-approved drug product indicated for the symptomatic relief of
noninfectious diarrhea in adults with HIV/AIDS on antiretroviral
therapy.

The extension of the maturity date was part of a larger
restructuring of the Existing Debt following the acquisition of the
Existing Debt by Chicago Venture Partners L.P.  As consideration
for such restructuring, which included among other things the
extension of the maturity date by means of an exchange of the
Existing Debt for new secured debt with a maturity date of Dec. 31,
2020, Jaguar paid CVP a fee of appoximately $2.3 million in the
form of additional debt.

As Jaguar announced May 29, 2019, the Company recently extinguished
all of the approximately $6.4 million in secured promissory notes
that were outstanding as of Dec. 31, 2018, which notes the Company
originally issued to Chicago Venture Partners L.P. in July 2017
through March 2018.

                      About Jaguar Health

Jaguar Health, Inc. -- http://www.jaguar.health-- is a commercial
stage pharmaceuticals company focused on developing novel,
sustainably derived gastrointestinal products on a global basis.
Its wholly-owned subsidiary, Napo Pharmaceuticals, Inc., focuses on
developing and commercializing proprietary human gastrointestinal
pharmaceuticals for the global marketplace from plants used
traditionally in rainforest areas.  Jaguar Health's principal
executive offices are located in San Francisco, California.

Jaguar Health reported a net loss of $32.14 million for the year
ended Dec. 31, 2018, compared to a net loss of $21.96 million for
the year ended Dec. 31, 2017.  As of March 31, 2019, Jaguar Health
had $40.66 million in total assets, $24.86 million in total
liabilities, $9 million in series A convertible preferred stock,
and $6.79 million in total stockholders' equity.

BDO USA, LLP, in San Francisco, California, the Company's auditor
since 2013, issued a "going concern" opinion in its report dated
April 10, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
suffered recurring losses from operations and an accumulated
deficit that raise substantial doubt about its ability to continue
as a going concern.


JAGUAR HEALTH: Sagard Capital Reports 31.9% Stake as of May 28
--------------------------------------------------------------
Sagard Capital Partners, L.P., Sagard Capital Partners GP, Inc.,
and Sagard Capital Partners Management Corp. disclosed in a
Schedule 13D/A filed with the U.S. Securities and Exchange
Commission that as of May 28, 2019, they beneficially own
33,149,556 shares of common stock of Jaguar Health, Inc., which
represents 31.9% of the shares outstanding.

Based on information provided by the Issuer, there are 70,472,008
shares of Voting Common Stock outstanding as of May 31, 2019.  The
Reporting Persons beneficially own 5,524,926 shares of Preferred
Stock, which are currently convertible into an aggregate of
33,149,556 Shares pursuant to the terms of the Certificate of
Designation, as amended.  As a result, on an as-converted basis,
each Reporting Person may be deemed to beneficially own 31.9% of
the outstanding shares of Voting Common Stock (on an as-converted
basis).

The change in the Reporting Persons' percentage beneficial
ownership reported in the amendment resulted from additional
issuances of Voting Common Stock by the Issuer and is not due to
any change in the actual number of shares beneficially owned by the
Reporting Persons.

                     Securities Purchase Agreement

On May 30, 2019, Sagard and Jaguar Health, in connection with the
Bridge Financing, entered into a Securities Purchase Agreement and,
in connection therewith, the Issuer issued to Sagard a Promissory
Note with a principal balance of $500,000 and a 5-year Common Stock
Purchase Warrant to purchase shares of Voting Common Stock, up to
an aggregate value of $375,000.  The exercise price for the Bridge
Warrant is the price per share at which the Issuer issues Voting
Common Stock in its next underwritten public offering, provided
that if the Issuer has not consummated a Public Offering by the
maturity date (Sept. 30, 2019), then the exercise price will be
equal to the closing sales price of the shares of Voting Common
Stock on such maturity date.  The aggregate number of Warrant
Shares will be equal to $375,000 divided by the Exercise Price,
and, because the Exercise Price is not yet known, is therefore not
yet able to be calculated.  In connection with the Bridge Purchase
Agreement, the Issuer also entered into a registration rights
agreement with Sagard pursuant to which the Issuer agreed to
register the resale of the Warrant Shares.

A full-text copy of the regulatory filing is available for free at:
https://is.gd/5Hho0P

                      About Jaguar Health

Jaguar Health, Inc. -- http://www.jaguar.health-- is a commercial
stage pharmaceuticals company focused on developing novel,
sustainably derived gastrointestinal products on a global basis.
Its wholly-owned subsidiary, Napo Pharmaceuticals, Inc., focuses on
developing and commercializing proprietary human gastrointestinal
pharmaceuticals for the global marketplace from plants used
traditionally in rainforest areas.  Jaguar Health's principal
executive offices are located in San Francisco, California.

Jaguar Health reported a net loss of $32.14 million for the year
ended Dec. 31, 2018, compared to a net loss of $21.96 million for
the year ended Dec. 31, 2017.  As of March 31, 2019, Jaguar Health
had $40.66 million in total assets, $24.86 million in total
liabilities, $9 million in series A convertible preferred stock,
and $6.79 million in total stockholders' equity.

BDO USA, LLP, in San Francisco, California, the Company's auditor
since 2013, issued a "going concern" opinion in its report dated
April 10, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
suffered recurring losses from operations and an accumulated
deficit that raise substantial doubt about its ability to continue
as a going concern.


JAMES SKEFOS: Prescott Buying Memphis Property for $350K
--------------------------------------------------------
James Skefos asks the U.S. Bankruptcy Court for the Western
District of Tennessee to authorize the sale of the real property
located at 3644 Poplar Avenue, Memphis, Tennessee to Ureaka
Prescott for $350,00.

The Debtor owns numerous real properties in Memphis, Tennessee,
including 3644 Poplar Avenue.  He has obtained a sales contract on
said property in the amount of $350,000 in "as is" condition.  

There is a mortgage on the proposed property held by Lendinghome in
the approximate sum of $165,000 and there are outstanding city and
county taxes which will be paid by the Debtor at closing.  The
Debtor will deposit all net proceeds into the bankruptcy estate.

The Debtor has not obtained a formal appraisal on 3644 Poplar
Avenue, but the purchase price is in excess of the Shelby County
Assessor’s appraisal of $226,400.  He believes the sales price
obtained is more than reasonable and is in the best interest of
Debtor and ultimately his creditors to sell said property.  Said
sale is in the Debtor's regular course of business but is seeking
authorization for title insurance purposes.

The Debtor asks the Court to approve the sale of 3644 Poplar Avenue
on the terms of the contract, and authorize the Debtor to sign all
necessary closing documents to transfer title.

A copy of the Contract attached to the Motion is available for free
at:

    http://bankrupt.com/misc/James_Skefos_332_Sales.pdf

James Skefos sought Chapter 11 protection (Bankr. W.D. Tenn. Case
No. 17-28243) on Sept. 18, 2017.  The Debtor tapped Daniel Lofton,
Esq., at Craig & Lofton, P.C., as counsel.


JAMES SKEFOS: Resendiz Buying Memphis Property for $140K
--------------------------------------------------------
James Skefos asks the U.S. Bankruptcy Court for the Western
District of Tennessee to authorize the sale of the real property
located at 3828 Tutwiler Avenue, Memphis, Tennessee to Saul
Resendiz for $139,500.

The Debtor owns numerous real properties in Memphis, Tennessee
including 3828 Tutwiler Avenue.  He has obtained a sales contract
on said property in the amount of $139,500 in "as is" condition.  

There is no mortgage on the proposed property but there are
outstanding city and county taxes which will be paid by the Debtor.
The Debtor will deposit all net proceeds into the bankruptcy
estate.

The Debtor has not obtained a formal appraisal on 3828 Tutwiler,
but the purchase price is in excess of the Shelby County Assessor's
appraisal of $104,800.  He believes the sales price obtained is
more than reasonable and is in the best interest of Debtor and
ultimately his creditors to sell said property.  Said sale is in
the Debtor's regular course of business but is seeking
authorization for title insurance purposes.

A copy of the Contract attached to the Motion is available for free
at:

    http://bankrupt.com/misc/James_Skefos_331_Sales.pdf

James Skefos sought Chapter 11 protection (Bankr. W.D. Tenn. Case
No. 17-28243) on Sept. 18, 2017.  The Debtor tapped Daniel Lofton,
Esq., at Craig & Lofton, P.C. as counsel.


JONES ENERGY: Davis Polk Advises Noteholders in Chapter 11 Case
---------------------------------------------------------------
Davis Polk advised an ad hoc group of holders of the unsecured
notes and the first-lien notes of Jones Energy, Inc., in connection
with Jones Energy's comprehensive balance sheet restructuring and
chapter 11 bankruptcy case in the Bankruptcy Court for the Southern
District of Texas.

Before the April 15, 2019 chapter 11 filing, members of the ad hoc
group concluded over a year of negotiations by agreeing to a
restructuring support agreement with the company and an ad hoc
group of first-lien noteholders.  The plan of reorganization was
confirmed without objection on May 6, 2019, and Jones Energy
emerged from chapter 11 on May 17, 2019.  Under the confirmed plan,
members of the ad hoc group collectively received approximately 39%
of equity in reorganized Jones Energy, warrants for an additional
13% of equity and rights to participate in the selection of three
out of seven directors.

Jones Energy is an independent oil and natural gas exploration and
production company focused on the development of properties in the
United States mid-continent.  Its operations are currently focused
on oil fields in the Western Anadarko Basin and the SCOOP/STACK or
Merge region in Texas and Oklahoma.

The ad hoc group's steering committee consisted of AIG Asset
Management, Avenue Capital Management, Brookfield Asset Management,
Contrarian Capital Management, Deutsche Bank, Glendon Capital
Management, Nokota Capital Management, Nomura Corporate Research
and Asset Management and Whitebox Advisors.

The Davis Polk restructuring team included partner Brian M.
Resnick, counsel Christian Fischer and associates Benjamin M. Schak
and Omer Netzer.  The tax team included partner Michael Mollerus.
The equity derivatives team included partner John M. Brandow.  The
capital markets team included partner Derek Dostal. The mergers and
acquisitions team included partner Brian Wolfe. The executive
compensation team included partner Edmond T. FitzGerald.  The real
estate team included counsel Lawrence R. Plotkin.  All members of
the Davis Polk team are based in the
New York office.

                       About Jones Energy

Austin, Texas-based Jones Energy, Inc.
--http://www.jonesenergy.com/-- is an independent oil and natural
gas company engaged in the exploration, development, production and
acquisition of oil and gas properties in the Anadarko Basin in
Oklahoma and Texas.

Jones Energy and its affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 19-32112) on
April 14, 2019.  At the time of the filing, the Debtors had total
assets of $405,575,000 and liabilities of $1,116,839,000.

The cases are assigned to Judge David R. Jones.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as their bankruptcy counsel; Jackson Walker LLP
as co-counsel with Kirkland and as conflicts counsel; Evercore
Group LLC as financial advisor; Alvarez & Marsal North America,
LLC, as restructuring advisor; Deloitte Tax LLP as tax
restructuring advisor; Baker Botts LLP as special corporate
counsel; and Epiq Corporate Restructuring, LLC, as claims, noticing
and solicitation agent.


KATHLEEN CAMPBELL: Selling Indiana Real Estate for $2 Million
-------------------------------------------------------------
Kathleen Fritz Campbell asks the U.S. Bankruptcy Court for the
Western District of Kentucky to authorize the private sale of her
Indiana Real Estate: (i) located at 1802 East 10th Street,
Jeffersonville, Indiana; (ii) located at East Tenth Street,
Jeffersonville, Indiana; and (iii) located at 2021 Woodland Court,
Jeffersonville, Indiana, free and clear of all liens, claims,
interests.

Mrs. Campbell filed the individual chapter 11 case for the
principal purpose of saving her Indiana Real Estate from being sold
by the Clark County, Indiana Sheriff at a foreclosure sale.  
Simultaneously with the filing of the Motion, the Debtor has filed
an application to employ Bill Menish and SVN Premier CRE & Auctions
as her agent to sell the Indiana Real Estate on the terms set forth
in the Representation Agreement.

The Debtor's Indiana Real Estate is encumbered by the
judgment/mortgage lien held by creditor 1802-1804 Tenth Street,
LLC, and upon information and belief based on 1802-1804's own proof
of claim (Claim 1-1), the balance owed is $1,431,643.

Under the terms of the Representation Agreement, the Debtor asks a
one-year period to advertise and sell her Indiana Real Estate.
Based on Mr. Minish's research and belief, the Debtor's asking
price will be set initially at $2.02 million, an amount well in
excess Mrs. Campbell seeks a 60-day period to prepare, advertise
and sell the 1802-1804 Property and the Crator Drive Property.
Although 1802-1804 holds a judgment and now seek relief from the
automatic stay to sell the Debtor's Indiana Real Estate at a
Sheriff's sale, it is believed that a private sale with SVN's
assistance will yield a much higher sales price than would a
foreclosure sale.

As part of the Motion, the Debtor also asks authority to assume and
assign the existing lease of her Indiana Real Estate to the
purchaser, and within five days of the consummation of a Sale, the
Debtor will file with the Court and serve on the Lessee notice of
Debtor's intention to assume and assign the Lease to the successful
purchaser.

The effective date of any assumption and assignment of any Assumed
Contract will be the date on which the Sale of the Debtor's Indiana
Real Estate closes.  Accordingly, any Cure Amounts to be paid under
the Assumed Lease will also be paid upon the closing of the Sale or
as soon thereafter as the Cure Amount is fixed.

The Debtor has determined that the Representation Agreement is the
most likely mechanism to maximize the realizable value of the her
Indiana Real Estate for the benefit of Debtor’s estate and
creditors and other interested parties.

A copy of the Agreement attached to the Motion is available for
free at:

   http://bankrupt.com/misc/Kathleen_Campbell_95_Sales.pdf

Kathleen Fritz Campbell sought Chapter 11 protection (Bankr. W.D.
Ky. Case No. 18-33552) on Nov. 20, 2018.  The Debtor tapped Michael
W. McClain, Esq., at McClain Dewees, PLLC, as counsel.



KAYA HOLDINGS: Has $4.2-Mil. Net Income for Quarter Ended March 31
------------------------------------------------------------------
Kaya Holdings, Inc., filed its quarterly report on Form 10-Q,
disclosing a net income (attributed to Kaya Holdings, Inc.) of
$4,249,532 on $263,758 of net sales for the three months ended
March 31, 2019, compared to a net income (attributed to Kaya
Holdings, Inc.) of $12,711,406 on $255,365 of net sales for the
same period in 2018.

At March 31, 2019 the Company had total assets of $3,135,580, total
liabilities of $22,256,553, and $19,120,973 in net stockholders'
deficit.

The Company incurred a net income of $4,249,532 for the three
months ended March 31, 2019 and a net income of $12,711,406 for the
three months ended March 31, 2018.  The decrease in net income is
due to the changes in derivative liabilities and the company
continues to have operating losses.  At March 31, 2019 the Company
has a working capital deficiency of $17,051,337 and is totally
dependent on its ability to raise capital.  The Company has a plan
of operations and acknowledges that its plan of operations may not
result in generating positive working capital in the near future.

Even though management believes that it will be able to
successfully execute its business plan, which includes third-party
financing and capital issuance, and meet the Company's future
liquidity needs, there can be no assurances in that regard.  These
matters raise substantial doubt about the Company's ability to
continue as a going concern.  The consolidated financial statements
do not include any adjustments that might result from the outcome
of this material uncertainty.  Management recognizes that the
Company must generate additional funds to successfully develop its
operations and activities.

A copy of the Form 10-Q is available at:

                       https://is.gd/LYeiCf

Kaya Holdings, Inc., through its subsidiary, Marijuana Holdings
Americas, Inc., engages in the legal recreational and medical
marijuana business in the United States.  The Company is involved
in growing, cultivation, harvesting, and manufacturing medical
marijuana.  The Company was formerly known as Alternative Fuels
America, Inc. and changed its name to Kaya Holdings, Inc. in April
2015.  Kaya Holdings was incorporated in 1993 and is headquartered
in Fort Lauderdale, Florida.


KHRL GROUP: Seeks to Hire Bayne Snell as Special Counsel
--------------------------------------------------------
KHRL Group, LLC and Papa Grande Gourmet Foods, LLC seek authority
from the U.S. Bankruptcy Court for the Western District of Texas to
hire Bayne, Snell & Krause as special counsel.

The firm will represent the Debtors in proceedings related to real
property, claims and other related issues.  Its hourly rates are:

     Barry Snell, Esq.     $400
     Associate             $275 - $300
     Paralegal             $125

Barry Snell, Esq., at Bayne Snell, assures the court that his firm
is a "disinterested person" as that term is defined by Section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Barry Snell, Esq.
     Bayne, Snell & Krause
     1250 NE Interstate 410 Loop #725
     San Antonio, TX 78209
     Phone: +1 210-824-3278

                  About KHRL Group and Papa Grande
                           Gourmet Foods

Papa Grande Gourmet Foods LLC -- http://garciafoods.com/-- is a
producer of a growing line of Mexican food products including
tamales, fajitas, chorizo, shredded chicken, picadillo, carne
guisada, carnitas, chili, refried beans and rice.  Founded in 1956
by Andy Garcia, Papa Grande conducts business under the name Garcia
Foods.

KHRL Group, LLC owns the real estate used in the business.

KHRL Group and Papa Grande filed voluntary Chapter 11 petitions
(Bankr. W.D. Tex. Lead Case No. 19-50390) on Feb. 25, 2019.  At the
time of filing, both Debtors estimated their assets and liabilities
under $10 million.  The Hon. Ronald B. King is the case judge.
Ronald J. Smeberg, Esq., at The Smeberg Law Firm, PLLC, is the
Debtors' counsel.


MAXAR TECHNOLOGIES: Moody's Lowers Corp. Family Rating to B2
------------------------------------------------------------
Moody's Investors Service downgraded Maxar Technologies Inc.'s
corporate family rating to B2 from B1 while also downgrading the
company's probability of default rating to B3-PD from B2-PD. As
part of the same action Moody's also downgraded instrument ratings
applicable to Maxar's $3.75 billion multi-tranche senior secured
credit facilities, including the $100 million revolving credit
facility tranche domiciled at MDA Systems Holdings Ltd. (MDA
Systems), to B2 from B1. The company's SGL-3 (adequate) speculative
grade liquidity rating was affirmed, while Maxar's outlook was
changed to stable from negative.

"We downgraded Maxar's ratings because we believe that the
company's ability to organically de-lever through 2019-20 is
limited because of elevated capital and restructuring expenditures,
causing us to now expect leverage of debt-to-EBITDA to remain at
about 6x for most of the next two years," said Bill Wolfe, a
Moody's senior vice president.

The following summarizes Maxar's ratings and its actions:

Issuer: Maxar Technologies Inc.

  Corporate Family Rating, Downgraded to B2 From B1

  Probability of Default Rating, Downgraded to B3-PD From B2-PD

  Senior Secured Credit Facilities, Downgraded to B2 (LGD3) From
  B1 (LGD3)

  Speculative Grade Liquidity Rating, Affirmed at SGL-3

  Outlook, Changed to Stable from Negative

Issuer: MDA Systems Holdings Ltd.

  Senior Secured Credit Facilities, Downgraded to B2 (LGD3)
  From B1 (LGD3)

  Outlook, Changed to Stable from Negative

RATINGS RATIONALE

Maxar Technologies Inc.'s B2 CFR is based on the sizeable and
generally stable cash flow from satellite-based imaging services
(estimated by Moody's to comprise nearly 80% of EBITDA), the
technological and market leadership of such services as well as the
product diversity and related aerospace industry engineering
expertise flowing from other space-related operations, and
expectations of debt/EBITDA of about 6x through most of 2019-20,
with further de-levering occurring as, potentially, cash flow
expands and capital expenditures decline subsequent to the
WorldView Legion constellation's launch in 2021. Maxar's B2 CFR is
constrained by elevated debt/EBITDA leverage of about 7.2x (at
31Mar19, estimated pro forma Moody's adjusted), poor visibility of
forward activity levels resulting from uneven execution and
comparability issues given business profile and accounting
presentation changes, variable strategy and tactics given executive
management transitions, and by potential liquidity pressures
resulting from elevated capital and restructuring spending causing
negative FCF while term debt maturities advance, even as the
company's revolving credit facility is already significantly
utilized.

Maxar has an SGL-3 speculative grade liquidity rating (indicating
adequate liquidity arrangements), based on aggregate sources of
about $720 million to cover cash requirements of about $180 million
(all measures are estimated by Moody's). Sources are comprised of
cash of $228 million (31Mar19; pro forma for the subsequent receipt
of $183 million of insurance proceeds), and about $490 million
available under its $1.25 billion revolving credit facility
(includes the $100 million Canadian credit facility). Cash
requirements are comprised of about $160 million of negative free
cash flow along with relatively nominal debt amortization of about
$20 million over the next four quarters. With estimated compliance
cushions in excess of 15%, access to the revolving credit facility
is not expected to be limited.

The stable outlook is based on expectations of leverage of
debt/EBITDA declining to about 6x at the end of 2019, and Maxar
being able to refinance its $250 million term loan due October 2020
on a timely basis.

Factors that Could Lead to an Upgrade

Maxar's rating could be upgraded to B1 if Moody's expected:

  - Positive industry fundamentals, solid operating performance
    and liquidity; and

  - Growing revenues and free cash flow along with leverage of
    debt/EBITDA declining below 5x (7.2x at 31Mar19, estimated
    pro forma Moody's adjusted).

Factors that Could Lead to a Downgrade

Maxar's rating could be downgraded to B3 if Moody's expected:

  - Deteriorating industry fundamentals, weak/deteriorating
    operating performance or liquidity; and

  - Leverage was expected to maintained at or above 6x on a
    sustained basis (7.2x at 31Mar19, estimated pro forma
    Moody's adjusted).

The principal methodology used in these ratings was Aerospace and
Defense Industry published in March 2018.

Headquartered in Westminster, Colorado, Maxar has annual revenues
of $2.2 billion and Moody's estimated adjusted EBITDA of about $550
million, over 80% of which Moody's estimates is derived from Earth
imagery, geospatial data and analytics, while 20% stems from
satellites, satellite systems, and robotics.


MISSISSIPPI MINERALS: Seeks to Hire Quattlebaum Grooms as Counsel
-----------------------------------------------------------------
Mississippi Minerals Inc. and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the Western District of Arkansas
to hire Quattlebaum, Grooms & Tull PLLC as their legal counsel.

The firm will provide these services in connection with the
Debtors' Chapter 11 cases:

     a. advise the Debtors of their powers and duties in the
administration of their property;

     b. represent the Debtors in negotiations with their
creditors;

     c. take all necessary actions to preserve and protect the
Debtors' estates, which include representing the Debtors in
adversary proceedings;

     d. investigate and prosecute preference and other actions
arising under the Debtors' avoidance powers;

     e. assist the Debtors in the negotiation and preparation of
their Chapter 11 plan; and

     f. advise the Debtors in connection with any potential sale of
their assets.

The  firm's hourly billing rates are;

     Geoffrey Treece         $300
     Mary-Tipton Thalheimer  $185

Geoffrey Treece, Esq., at Quattlebaum, assured the court that his
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.

Quattlebaum Grooms can be reached at:

     Geoffrey B. Treece, Esq.
     Mary-Tipton Thalheimer, Esq.
     Quattlebaum, Grooms & Tull PLLC
     111 Center Street, Suite 1900
     Little Rock, AR 72201
     Telephone: (501) 379-1700
     Facsimile: (501) 379-1701
     Email: gtreece@qgtlaw.com
            mthalheimer@qgtlaw.com

                    About Mississippi Minerals Inc.

Mississippi Minerals Inc. -- http://www.mmicoal.com/-- is a
wholly-owned subsidiary of Haldia Coke and Chemicals Pvt. Ltd.
India.  It is a producer of metallurgical grade coal having its
administrative office at Pittsburgh, Pennsylvania, USA.  The
company owns coking coal mining assets in Central Appalachian
Region and Arkoma Basin.  It is the owner, operator and developer
of mines controlling vast bituminous coal reserves in two of the
United States' historically top-shelf metallurgical product
producing areas.

Mississippi Minerals and its affiliates Sebastian Mining, LLC,
Sebastian Management, LLC and Sebastian Leasing, LLC sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D.
Ark. Case Nos. 17-72861 to 17-72864) on November 15, 2017.  The
petitions were signed by Krishna Santhanam, president of
Mississippi Minerals.  

At the time of the filing, Mississippi Minerals disclosed that it
had estimated assets of $100,000,001 to $500 million and
liabilities of $50,000,001 to $100 million.  Sebastian Mining
disclosed $1 million to $10 million in assets and liabilities of
$10 million to $50 million.

Judge Ben T. Barry presides over the cases.  The Debtors are
represented by Geoffrey B. Treece, Esq., at Quattlebaum, Grooms &
Tull, PLLC.


NASHVILLE PHARMACY: Seeks to Extend Exclusivity Period to Sept. 3
-----------------------------------------------------------------
Nashville Pharmacy Services, LLC asked the U.S. Bankruptcy Court
for the Middle District of Tennessee to extend the period during
which it has the exclusive right to file a Chapter 11 plan of
reorganization through Sept. 3.

The extension, if granted by the court, would give Nashville
Pharmacy more time to negotiate with McKesson Corporation, the only
creditor that objected to the company's disclosure statement filed
on April 5.

Nashville Pharmacy's current exclusive filing period is set to
expire on June 6.

             About Nashville Pharmacy Services

Nashville Pharmacy Services, LLC, operates NPS Pharmacy, a pharmacy
specializing in HIV and AIDS-related medicine.

Nashville Pharmacy Services sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 18-08144) on Dec.
8, 2018.  At the time of the filing, the Debtor estimated assets of
$10 million to $50 million and liabilities of the same range.  The
case is assigned to Judge Marian F. Harrison. The Debtor tapped
Bass, Berry & Sims PLC as its bankruptcy counsel, and Waller
Lansden Dortch & Davis, LLP as its special counsel.

No official committee of unsecured creditors has been appointed.


NICHOLS BROTHER: $316K Sale of Oil/Gas Interests to Bud Oil Okayed
------------------------------------------------------------------
Judge Terrence L. Michael of the U.S. Bankruptcy Court for the
Northern District of Oklahoma authorized Nichols Brothers, Inc. and
its affiliates to sell all the oil and gas interests described on
Exhibit A to Bud Oil, Inc. for $315,860, cash.

The sale is free and clear of any Lien, Claim or other Interest.

The Debtors' assumption and assignment to the Purchaser, and the
Purchaser's assumption on the terms set forth in the Purchaser
Agreement, of the Assumed Contracts is approved, and the
requirements of Section 365(b)(1) with respect to such Assumed
Contracts are deemed satisfied.

The Order constitutes a final order within the meaning of 28 U.S.C.
Section 158(a).  Notwithstanding any provision in the Bankruptcy
Rules to the contrary, the Court expressly finds there is no reason
for delay in the implementation of the Order and, accordingly: (i)
the terms of this Order will be immediately effective and
enforceable upon its entry; (ii) the Debtors are not subject to any
stay in the implementation, enforcement or realization of the
relief granted in the Order; and (iii) the Debtors may, in their
discretion and without further delay, take any action and perform
any act authorized under the Order.

The Debtors are authorized to pay the net proceeds to the DIP
Lenders and/or Pre-Petition Lenders on account of their secured
claims consistent with the DIP Order and DIP Agreement entered by
the Court on Aug. 1, 2018.  The liens, claims, and interests of all
parties will attach to the escrowed funds with the same validity
and priority that existed regarding the property being sold as of
the entry of this order and without prejudice to the position of
any such parties.

A copy of the Exhibit A attached to the Order is available for free
at:

    http://bankrupt.com/misc/Nichols_Brothers_375_Order.pdf

                     About Nichols Brothers

Nichols Brothers, Inc., and its subsidiaries are primarily focused
on oil and gas production operating 400 producing wells, which are
generally considered "stripper wells" in the industry.  The
business group is owned and operated by Richard and Orville
Nichols.  Nichols Brothers is headquartered in Tulsa, Oklahoma.

Nichols Brothers and its subsidiaries filed voluntary petitions
(Bankr. N.D. Okla. Lead Case No. 18-11123) on June 1, 2018.  In
the
petition signed by Richard Nichols, president, Nichols Brothers
disclosed $10,388 in assets and $32.87 million in liabilities.
The
case is assigned to Judge Terrence L. Michael.  

Gary M. McDonald, Esq., Chad J. Kutmas, Esq., and Mary E. Kindelt,
Esq., at McDonald & Metcalf, LLP serve as the Debtors' counsel;
Padilla Law Firm, serves as special counsel to the Debtor; and
Koehler & Associates, Inc., as its chief restructuring officer.

The U.S. Trustee for Region 20 on June 22, 2018, appointed an
official committee of unsecured creditors.  The Committee retained
Rosenstein Fist & Ringold, as counsel.



NORTHERN DYNASTY: Needs More Financing to Remain as Going Concern
-----------------------------------------------------------------
Northern Dynasty Minerals Ltd. filed its Form 6-K, disclosing a net
loss of CAD16,211,000 on CAD0 of revenue for the three months ended
March 31, 2019, compared to a net loss of CAD11,092,000 on CAD0 of
revenue for the same period in 2018.

At March 31, 2019 the Company had total assets of CAD164,345,000,
total liabilities of CAD17,147,000, and CAD147,198,000 in total
equity.

The Company said, "As at March 31, 2019, the Group had
CAD20,246,000 in cash and cash equivalents for its operating
requirements. For the three months ended March 31, 2019 and 2018,
the Group incurred a net loss of CAD16,211,000 and CAD11,092,000,
respectively, and had a deficit CAD503,124,000 as at March 31,
2019. The Group has prioritized the allocation of its financial
resources in order to meet key corporate and Pebble Project
expenditure requirements in the near term. Additional financing
will be required in order to progress any material expenditures at
the Pebble Project and for working capital requirements. Additional
financing may include any of or a combination of debt, equity
and/or contributions from possible new Pebble Project participants.
There can be no assurances that the Group will be successful in
obtaining additional financing. If the Group is unable to raise the
necessary capital resources and generate sufficient cash flows to
meet obligations as they come due, the Group may, at some point,
consider reducing or curtailing its operations. As such, there is
material uncertainty that raises substantial doubt about the
Group’s ability to continue as a going concern."

A copy of the Form 6-K is available at:

                       https://is.gd/mgx6PJ

Northern Dynasty Minerals Ltd. acquires, explores for, and develops
mineral properties in the United States. Its principal mineral
property is the Pebble copper-gold-molybdenum project that includes
2,402 mineral claims covering approximately 417 square miles
located in southwest Alaska.  The company was formerly known as
Northern Dynasty Explorations Ltd. and changed its name to Northern
Dynasty Minerals Ltd. in October 1997.  Northern Dynasty Minerals
was founded in 1983 and is headquartered in Vancouver, Canada.



O'BENCO IV: Case Summary & 16 Unsecured Creditors
-------------------------------------------------
Debtor: O'BENCO IV, LP
        P.O. Box 6149
        Shreveport, LA 71136-6149

Business Description: O'BENCO IV, LP --
                      https://www.obrienenergyco.com/ --
                      is an exploration & production company
                      based in Shreveport, Louisiana.

Chapter 11 Petition Date: June 3, 2019

Court: United States Bankruptcy Court
       Eastern District of Texas (Tyler)

Case No.: 19-60384

Debtor's Counsel: William A. Wood, III, Esq.
                  BRACEWELL LLP
                  711 Louisiana Street, Suite 2300
                  Houston, TX 77002-2781
                  Tel: (713) 223-2300
                  Fax: 713-221-1212
                  E-mail: trey.wood@bracewelllaw.com

Estimated Assets: $100 million to $500 million

Estimated Liabilities: $100 million to $500 million

The petition was signed by William J. O'Brien III, chairman and
CEO.

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

           http://bankrupt.com/misc/txeb19-60384.pdf

List of Debtor's 16 Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. Morgan, Michael I.               Subordinated         $563,412
8757 Business Park Drive           Unsecured Loan
Shreveport LA. 71105
Email: jmcl@morganautomotivegroup.com

2. The William Scott Martin Trust   Subordinated         $563,412
Scott Martin                       Unsecured Loan
2431 East 61st Street, Suite 850
Tulsa, OK. 74136
Email: sportwsm@aol.com

3. Bishop Endeavors, L.L.C.         Subordinated         $563,412
Donald J. "Rocky" Bishop           Unsecured Loan
611 M.L. King Blvd.
Baldwin, LA. 70514
Email: bredimix@aol.com

4. Yokem, Robert                    Subordinated         $563,412
6403 Creswell Avenue               Unsecured Loan
Shreveport, LA 71106
Email: ryokem2012@gmail.com

5. Maxwell, William S.              Subordinated         $338,047
611 Jessie Jones Drive             Unsecured Loan
Benton, LA. 71006
Email: williamsmaxwell@hotmail.com

6. Nunley, Pierce and Amie          Subordinated         $338,047
1500 Line Avenue, Suite 200        Unsecured Loan
Shreveport, LA. 71101
Email: pnunley@louisianaspine.org

7. Lusk, Bryan E.                   Subordinated          $338,047
517 Rives Place                    Unsecured Loan
Shreveport, LA. 71106
Email: bryanlusk@luskeye.com

8. The Barry J. Belmont             Subordinated          $281,706
Revocable Trust                    Unsecured Loan
DTD March 25, 2008
Peter A. Mardinly, Esquire
1400 N. Providence Rd., Bldg 1, Ste 304
Media, PA. 19063
Email: pmardinly@belmontinvestment.com

9. Fite, David E.                   Subordinated          $281,706
215 Clearwood Lane                 Unsecured Loan
Shreveport, LA. 71105
Email: defite1@gmail.com

10. Skyhawk Insurance, LLC          Subordinated          $225,364
Nunley, Pierce                     Unsecured Loan
1500 Line Avenue, Suite 200
Shreveport, LA. 71101
Email: pnunley@louisianaspine.org

11. Crow, Hampton D. Sr.            Subordinated          $112,682
2814 Oak Trail Ct.                 Unsecured Loan
Arlington, TX. 76016
Email: hamp.crow@gmail.com

12. HPS Long Creek, LP              Subordinated          $112,682
Pat Crow                           Unsecured Loan
209 Payne Street
Dallas, TX. 75207
Email: pat@claycrow.com

13. Walker, Bobby Jr.               Subordinated          $112,682
1650 Cortlandt Street              Unsecured Loan
Houston, TX 77008
Email: bwalker@tudorpickering.com

14. Ridley, Knox                    Subordinated          $112,682
401 Edwards Street, Suite 1210     Unsecured Loan
Shreveport, LA. 71101
P.O. Box 1231, Shreveport, LA 71163
Email: knox@harbuckridley.com

15. Cehajic, Elvir                  Subordinated          $112,682
332 Millicent Way                  Unsecured Loan
Shreveport, LA. 71106
Email: ecehajic@obrienenergyco.com

16. Doodle Productions LLC          Subordinated          $338,047
Charlton Holmes                    Unsecured Loan
1331 E. Bert Kouns Industrial Loop
Shreveport, LA. 71105
Email: ch4cars@yahoo.com


ONE WORLD: Seeks More Capital Sources to Continue as Going Concern
------------------------------------------------------------------
One World Pharma, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $1,323,516 on $0 of revenue for the three
months ended March 31, 2019, compared to a net loss of $0 on $0 of
revenue from inception (March 27, 2018) to March 31, 2018.

At March 31, 2019 the Company had total assets of $2,367,464, total
liabilities of $1,515,165, and $852,299 in total stockholders'
equity.

The Company has cash on hand of $1,462,345, working capital of
$245,042 and an accumulated deficit of $3,283,498, and the
Company's cash on hand may not be sufficient to sustain operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.

The Company's management is actively pursuing its cannabis
cultivation activities and expects to begin revenue generating
export operations later in 2019.  In addition, the Company is
currently seeking additional sources of capital to fund short term
operations.  Management believes these factors will contribute
toward achieving profitability.

A copy of the Form 10-Q is available at:

                       https://is.gd/e2qpaH

One World Pharma, Inc., focuses on producing and manufacturing raw
cannabis and hemp plant ingredients for medical and industrial
uses. It focuses on cultivating, processing, and supplying cannabis
oil, distillate, and isolate to customers' specification. The
company is headquartered in Las Vegas, Nevada.


ORIGINCLEAR INC: Has $331K Net Loss at Quarter Ended March 31
-------------------------------------------------------------
OriginClear, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $331,272 on $742,043 of sales for the
three months ended March 31, 2019, compared to a net loss of
$12,888,316 on $1,333,539 of sales for the same period in 2018.

At March 31, 2019 the Company had total assets of $1,041,279, total
liabilities of $14,656,752, and $15,823,473 in total shareholders'
deficit.

The Company has not generated significant revenue, and has negative
cash flows from operations, which raise substantial doubt about the
Company's ability to continue as a going concern.  The ability of
the Company to continue as a going concern and appropriateness of
using the going concern basis is dependent upon, among other
things, raising additional capital and increasing sales.

T. Riggs Eckelberry, the Company's chief executive officer, said,
"We obtained funds from our private placements during the three
months ending March 31, 2019.  No assurance can be given that any
future financing will be available or, if available, that it will
be on terms that are satisfactory to the Company.  Even if the
Company is able to obtain additional financing, it may contain
restrictions on our operations, in the case of debt financing, or
cause substantial dilution for our stockholders, in case of equity
financing."

A copy of the Form 10-Q is available at:

                       https://is.gd/BtetLT

OriginClear, Inc., provides water treatment solutions.  The company
licenses its Electro Water Separation technology worldwide to treat
heavily polluted waters, as well as to remove harmful
micro-contaminants from drinking water using minimal energy,
chemicals, and materials.  It also designs and manufactures a line
of water treatment systems for municipal, industrial, and pure
water applications. In addition, the company offers a range of
services, including maintenance contracts, retrofits, and
replacement assistance; and rents equipment through contracts of
varying duration, as well as provides prefabricated wastewater
treatment products. It operates in the United States, Canada,
Japan, Argentina, and the Middle East. The company was formerly
known as OriginOil, Inc. and changed its name to OriginClear, Inc.
in April 2015.  OriginClear was founded in 2007 and is
headquartered in Los Angeles, California.


OUTERSTUFF LLC: Moody's Cuts CFR to B2, Outlook Rating Under Review
-------------------------------------------------------------------
Moody's Investors Service downgraded Outerstuff LLC's ratings,
including its Corporate Family Rating to B2 from B1, Probability of
Default Rating to B2-PD from B1-PD, and its Secured Term Loan
rating to B3 from B2. The ratings were placed on review for further
downgrade. The outlook was changed to rating under review from
stable.

The downgrade reflects Outerstuff's weaker than expected
profitability and credit metrics. Despite reporting solid revenue
growth in 2018, the Company's profitability declined due to overall
product mix changes, continued NFL royalty shortfalls, inventory
clearance activities, international growth related investment, and
higher variable expenses related to increased sales volume. When
combined with retail customer bankruptcies, store closures and
delayed timing of new business awards, both revenue and earnings
declined in the first quarter of 2019.

The review for downgrade will focus on Outerstuff's ability to
return to sustained revenue growth and improve profitability, free
cash flow and financial leverage. Moody's will also focus on the
impact of strategic realignment, cost reduction and working capital
improvement initiatives on profit improvement plans, as well as the
Company's plan and ability to refinance its Secured Term Loan well
ahead of it becoming a current obligation in July 2020.

Downgrades:

Issuer: Outerstuff LLC

  Corporate Family Rating, Downgraded to B2 from B1; Placed
  Under Review for further Downgrade

  Probability of Default Rating, Downgraded to B2-PD from B1-PD;
  Placed Under Review for further Downgrade

  Senior Secured Bank Credit Facility, Downgraded to B3 (LGD4)
  from B2 (LGD4); Placed Under Review for further Downgrade

Outlook Actions:

Issuer: Outerstuff LLC

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The B2 CFR reflects Outerstuff's very weak credit metrics, small
revenue scale, narrow product concentration in licensed children's
sports apparel primarily in the U.S., and reliance on licensing
arrangements from several sports leagues for a significant majority
of revenue. Also considered are the increasing volatility related
to new contract award cycles, as well as private equity ownership
and the joint control by management and the private equity sponsor.
Ratings are supported by the Company's diversification across
retail channels, its entrenched market position related to
exclusive license contracts with the NFL, NBA, NHL, MLB, MLS, and
U.S.A. Olympics, which allow it to sell virtually all children's
apparel with the teams' logos, and Moody's view that the children's
licensed sports apparel market is relatively stable and recession
resistant because of its low fashion risk, natural replenishment
cycle and consumers' steady interest in team sports.

Liquidity is adequate, reflecting Moody's expectation that modest
balance sheet cash and operating cash flow will be sufficient to
cover annual cash flow needs, with high reliance on its revolving
credit facility to fund seasonal needs throughout the first three
quarters of the year. While the company recently extended the
expiration of its revolving credit facility to 2024, the facility
will come due 90 days prior to the Term Loan, which is set to
mature on July 28, 2021.

Ratings could be downgraded if it appears that the Company will be
unable to substantially improve profitability and reduce leverage
to refinanceable levels over the coming year, or if it appears that
refinancing its Secured Term Loan will be otherwise challenging.
Specific metrics include lease-adjusted debt/EBITDAR remaining
above 5.5 times and EBITA/Interest below 1.75 times.

Given the review for downgrade, an upgrade is unlikely over the
near term. An upgrade would require the Company to reduce
volatility and materially improve profitability, such that
lease-adjusted debt/EBITDAR was sustained below 4.5 times and
EBITA/Interest above 2.5 times. A higher rating would also require
improved liquidity, such as sustained positive free cash flow and
an extended debt maturity profile.

The principal methodology used in these ratings was Apparel
Companies published in December 2017.

Outerstuff is a designer, manufacturer and marketer of licensed
children's sports apparel. The company generates the majority of
its revenues from products sold under exclusive licenses with the
NFL, NBA, NHL, MLB, MLS, U.S.A. Olympics, Umbro as well as licenses
with over 200 NCAA colleges and universities, and sells to team
shops, specialty sports chain stores, department stores, and mass
merchants mainly in the United States. Since the May 2014
investment by Blackstone, the private equity sponsor and management
have equal equity stakes of approximately 50% and share control of
the company.


PALM BEACH: Moody's Rates $40.45-Mil. 2019A/B Bonds 'Ba1'
---------------------------------------------------------
Moody's Investors Service has assigned the rating of Ba1 to the
$40,455,000 Palm Beach County, Florida's Revenue Bonds (Provident
Group - PBAU Properties, LLC - Palm Beach Atlantic University
Housing Project), Series 2019A and Series 2019B (Taxable). The
outlook is stable.

RATINGS RATIONALE

The Ba1 rating is based primarily on adequate projected financial
performance of the proposed 510 bed student housing project (the
Project) to be located on the campus of Palm Beach Atlantic
University (PBAU or the University), the close affiliation with
PBAU and the sound legal structure. The rating also incorporates
construction risk, which is partially mitigated by the available
Capitalized Interest Account.

RATING OUTLOOK

The stable outlook reflects its expectations that the Project will
be completed in time for the Fall 2020 semester, and meet certain
projected debt service coverage (DSC) levels.

FACTORS THAT COULD LEAD TO AN UPGRADE

While a near term upgrade is not anticipated, successful completion
of the Project, and sustained occupancy coupled with sound DSC
levels would be credit positive in the longer term.

FACTORS THAT COULD LEAD TO A DOWNGRADE

  - Construction delays or lease up significantly below the
expected occupancy levels

  - Financial performance or project demand below the expected
levels resulting in prolonged period of deteriorating debt service
coverage

LEGAL SECURITY

The Project is a stand-alone housing financing that will be
centrally located on the University's core campus in West Palm
Beach, Florida. Neither the University nor the Issuer is legally
obligated to make debt service payments on the Series 2019A and
Series 2019B Bonds. Security for the Bonds will be derived
primarily from Project revenues and trustee-held funds. The bond
trustee will have a security interest in various funds including
the Bond Fund, Capitalized Interest Account, Debt Service Reserve
Fund and the Repair and Replacement Fund.

USE OF PROCEEDS

Series 2019A and Series 2019B proceeds will be used to finance
construction of the Project, deposit monies into the Debt Service
Reserve equivalent to maximum annual debt service and fund the
Capitalized Interest Account as well as cost of issuance.

PROFILE

Provident Group-PBAU Properties, LLC is a single member LLC of
which Provident Resources Group, Inc., a non-profit corporation is
the sole member. The Borrower was formed for the sole purpose of
developing, constructing, owning and operating the proposed
project. The Borrower will issue the tax-exempt bonds to construct
the Project and fund the required reserves under the Trust
Indenture.


PHOENIX LIFE: Needs Significant Cash to Continue as Going Concern
-----------------------------------------------------------------
Phoenix Life Sciences International Limited filed its quarterly
report on Form 10-Q, disclosing a net loss of $2,887,763 on $0 of
total revenue for the three months ended Nov. 30, 2018, compared to
a net loss of $344 on $0 of total revenue for the same period in
2017.

At Nov. 30, 2018 the Company had total assets of $7,831,548, total
liabilities of $1,285,188, and $6,546,360 in total stockholders'
equity.

The Company's total operating expenditure plan for the following
twelve months will require significant cash resources to meet the
goals of its business plan.  The continuation of the Company as a
going concern is dependent upon the continued financial support
from its management, and its ability to identify future investment
opportunities and obtain the necessary debt or equity financing,
and generating profitable operations from the Company's future
operations.  These factors raise substantial doubt regarding the
Company's ability to continue as a going concern.

A copy of the Form 10-Q is available at:

                       https://is.gd/tlOjk2

Phoenix Life Sciences International Limited operates as a
healthcare solutions company in the United States and
internationally. It focuses on advancing research, integrating
programs, and manufacturing of products that target and treat
diabetes, pain, and cancer, as well as address psychological,
gastrointestinal, autoimmune, neurological, and sleep disorders.
The company offers transdermal patches, medi-strips, capsules,
vaporizing pharmaceutical grade cannabis, and medi-mist oral
sprays, as well as soft gel capsules, thin film dissolvable strips,
sublingual oral sprays, suppositories, and topical creams. It is
also involved in the distribution of medical cannabis-based
products. The company was formerly known as Stem Bioscience, Inc.
and changed its name to Phoenix Life Sciences International Limited
in May 2018. The company was incorporated in 2009 and is
headquartered in Denver, Colorado.




PHYLLIS HANEY: $168K Sale of Two Beaver Parcels to Frye Approved
----------------------------------------------------------------
Judge Thomas P. Agresti of the U.S. Bankruptcy Court for the
Western District of Pennsylvania authorized Phyllis J. Haney's sale
to Frye Transportation Group, Inc. of the two parcels of real
property situate at: (i) 902 Western Avenue, Beaver, Pennsylvania,
Tax Parcel No. 55-032-0100.001, for $102,000; and (ii) 1405 8th
Avenue, Beaver, Pennsylvania, Tax Parcel No. 55- 032-0101.000, for
$65,000.

A hearing on the Motion was held on May 30, 2019.

On July 1, 2019, the Parties will file a Consent Order on the Sale
Motion which the Court will enter, or if no consent has yet been
reached by the Parties, a Report as to the status of agreement,
which the Court will schedule for hearing.

Phyllis J. Haney sought chapter 11 protection (Bankr. W.D. Pa. Case
No. 18-22636) on June 29, 2018.  The Debtor tapped Robert O Lampl,
Esq. , at Robert O Lampl Law Office, as counsel.


PLASTIC2OIL INC: Incurs $2.8 Million Net Loss in 2018
-----------------------------------------------------
Plastic2Oil, Inc. filed with the U.S. Securities and Exchange
Commission on June 3, 2019, its annual report on Form 10-K
reporting a net loss of $2.77 million for the year ended Dec. 31,
2018, compared to a net loss of $1.47 million for the year ended
Dec. 31, 2017.

As of Dec. 31, 2018, the Company had $795,610 in total assets,
$15.51 million in total liabilities, and a total stockholders'
deficit of $14.71 million.

Plastic2Oil said, "We do not have sufficient cash to operate our
business which has forced us to suspend our operations until such
time as we receive a capital infusion or cash advances on the sale
of our processors.  We intend to source additional capital through
the sale of our equity and debt securities and other financing
methods.  We plan to use the cash proceeds from any financing to
complete the repairs on Processors #3 to resume production of fuels
for pilot runs and customer demonstrations."

At Dec. 31, 2018, the Company had a cash balance of $47,808.  Its
principal sources of liquidity in 2018 was from the sale of the
property located at 1783 Allanport Road, Thorold, Ontario, Canada
and proceeds from the settlement of the Glenny and Maskell
(Canadian Insurance Broker) lawsuit.  Its principal sources of
liquidity in 2017 were the proceeds from the related party
short-term loans from its chief executive officer, and proceeds
from the sale of related –party and non-related party secured
long –term debt.

D. Brooks and Associates CPA's, P.A., in Palm Beach Gardens,
Florida, the Company's auditor since 2014, issued a "going concern"
qualification in its report dated June 3, 2019, on the Company's
consolidated financial statements for the year ended Dec. 31, 2018,
citing that the Company has incurred operating losses, has incurred
negative cash flows from operations and has a working capital
deficit.  These and other factors raise substantial doubt about the
Company's ability to continue as a going concern.

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

                    https://is.gd/ugMO4m

                      About Plastic2Oil

Plastic2Oil, Inc., is an innovative North American fuel company
that transforms unsorted, unwashed waste plastic into ultra-clean,
ultra-low sulphur fuel without the need for refinement. The
Company's patent-pending Plastic2Oil (P2O) is a proprietary,
commercially viable, and scalable process designed to provide
immediate economic benefit for industry, communities, and
government organizations faced with waste plastic recycling
challenges.


PLATINUM GROUP: Needs More Funding to Continue as Going Concern
---------------------------------------------------------------
Platinum Group Metals Ltd. filed its Form 6-K, disclosing a
comprehensive loss of $5,424,000 on $0 of revenue for the three
months ended Feb. 28, 2019, compared to a comprehensive loss of
$11,711,000 on $0 of revenue for the same period in 2018.

At Feb. 28, 2019 the Company had total assets of $40,038,000, total
liabilities of $65,981,000, and $25,943,000 in total shareholders'
deficit.

The Company had a loss of $9.1 million during the six-month period,
negative working capital and has negative equity amounting to $25.9
million as at February 28, 2019.  At February 28, 2019, the Company
was indebted $42.1 million pursuant to the LMM Facility.  This debt
is due October 31, 2019.  Additional payments/interest are also due
on the convertible debt (which can be paid with shares of the
Company).  The Company currently has limited financial resources
and has no sources of operating income at present.

Company Chief Financial Officer, Frank Hallam, stated, "The
Company's ability to continue operations in the normal course of
business will therefore depend upon its ability to secure
additional funding by methods that could include debt refinancing,
equity financing, the exercise of warrants, sale of assets and
strategic partnerships.  Management believes the Company will be
able to secure further funding as required.  Nonetheless, there
exist material uncertainties resulting in substantial doubt as to
the ability of the Company to continue to meet its obligations as
they come due and hence, the ultimate appropriateness of the use of
accounting principals applicable to a going concern."

A copy of the Form 6-K is available at:

                       https://is.gd/1Bsmno

Platinum Group Metals Ltd. engages in the acquisition, exploration,
and development of platinum and palladium properties. It explores
for platinum, palladium, rhodium, gold, ruthenium, iridium, copper,
and nickel deposits. The company holds 50.02% interest in the
Waterberg project located on the North Limb of the Western Bushveld
complex, South Africa. Platinum Group Metals Ltd. was founded in
2000 and is headquartered in Vancouver, Canada.



POET TECHNOLOGIES: Insufficient Cash Casts Going Concern Doubt
--------------------------------------------------------------
POET Technologies Inc. filed its Form 6-K, disclosing a net loss of
$2,682,542 on $0 of revenue for the three months ended March 31,
2019, compared to a net loss of $3,174,807 on $0 of revenue for the
same period in 2018.

At March 31, 2019 the Company had total assets of $24,347,311,
total liabilities of $5,009,841, and $19,337,470 in total
shareholders' equity.

As at March 31, 2019, the Company has accumulated losses of
$(135,878,474) and working capital of $17,289,663.  Working capital
includes $20,901,110 of non-current asset held for sale and
$4,086,905 of disposal group liabilities related to the proposed
sale of the Company's subsidiary, DenseLight Semiconductors Pte.
Ltd.  During the three months ended March 31, 2019, the Company had
negative cash flows from operations of $1,469,714.  The Company has
prepared a cash flow forecast which indicates that it does not have
sufficient cash to meet its minimum expenditure commitments and
therefore needs to raise additional funds to continue as a going
concern.  As a result, there is substantial doubt about the
Company's ability to continue as a going concern.

To address the future funding requirements, management has
undertaken the following initiatives:

   * Entered into discussions to secure debt financing.
   * Initiated a strict working capital monitoring program.
   * Continued their focus on maintaining an appropriate level of
corporate overheads in line with the Company's available cash
resources.
   * Filed a preliminary short-form prospectus to raise a maximum
$50 million through a public offering of either equity securities,
debt securities or a combination of both.

In line with its needs for additional financing, on April 3, 2019
and May 3, 2019, the Company closed the first and second tranches
of a private placement of convertible debentures that raised gross
proceeds of $1,446,027 (CAD1,929,000) and $1,089,552 (CAD1,460,000)
respectively (the "Debentures").  The Debentures are unsecured,
bear interest at 12% per annum, compounded annually with 1% payable
at the beginning of each month and mature on April 3, 2021 and May
3, 2021.  The Company paid $134,639 (CAD179,951) in brokerage fees
related to the closing of these two tranches.

Additionally, the Company arranged for a credit facility (the
"Bridge Loan") to be provided by Espresso Capital Ltd which will
grant the Company access to a maximum USD$5,000,000.  The Company
signed the loan documents on April 18, 2019 and was advanced
USD$2,000,000 on April 23, 2019.

A copy of the Form 6-K is available at:

                       https://is.gd/S7NTmx

POET Technologies Inc. designs, manufactures, and sells
semi-conductor products in the United States, Canada, and
Singapore. It offers optical light source products and photonic
integrated devices for the sensing, data and telecommunications,
medical, instrumentation, industrial, defense, and security
markets. The company was formerly known as Opel Technologies Inc.
and changed its name to POET Technologies Inc. in June 2013. POET
Technologies Inc. is headquartered in Toronto, Canada.




PROJECT ACCELERATE: Moody's Cuts First Lien Debt Rating to B3
-------------------------------------------------------------
Moody's Investors Service affirmed Project Accelerate Parent, LLC's
(dba ABC Financial) B3 Corporate Family Rating and B3-PD
Probability of Default Rating. At the same time, Moody's downgraded
the instrument ratings on the company's first lien bank credit
facilities to B3 from B2. The outlook is stable.

ABC Financial plans on fully repaying its second lien term loan
(unrated) with the proceeds of a $115 million first lien term loan
add-on. Moody's views the transaction as a credit positive
development as it will save the company approximately $5 million in
annual cash interest expense.

Nevertheless, Moody's affirmed ABC Financial's B3 CFR as the
company's scale and business diversity remain limited while its
leverage remains very high. Moody's estimates that debt-to-EBITDA
exceeds 8.0x as of LTM March 2019 (Moody's-adjusted and after the
expensing of capitalized software development) and will show only
modest improvement over the next 12 to 18 months as investment in
the company's NextGen platform remains high. Liquidity will remain
good however, given approximately $21 million of accessible cash on
hand, Moody's expectation for $10 to $15 million of free cash flow
and full availability on the company's $25 million revolver.

The downgrade of the first lien senior secured facilities ratings
to B3 reflects that the repayment in full of the second lien debt
eliminates a layer of loss absorption for the senior secured first
lien credit facilities.

Moody's took the following rating actions:

Downgrades:

Issuer: Project Accelerate Parent, LLC

  Senior Secured First Lien Term Loan, Downgraded to B3 (LGD3)
  from B2 (LGD3)

  Senior Secured First Lien Revolving Credit Facility, Downgraded
  to B3 (LGD3) from B2 (LGD3)

Affirmations:

Issuer: Project Accelerate Parent, LLC

  Probability of Default Rating, Affirmed B3-PD

  Corporate Family Rating, Affirmed B3

Outlook Actions:

Issuer: Project Accelerate Parent, LLC

  Outlook, Remains Stable

RATINGS RATIONALE

ABC Financial's B3 CFR broadly reflects the high business and
financial risks stemming from the company's limited scale and
scope, customer concentrations, and its substantial debt burden.
ABC provides gym-management software and payment processing
services to a sub-segment of the North American fitness club
industry, limiting its product and end market diversity and
concentrating its revenue streams with two of the largest fitness
club operators. With debt-to-EBITDA of approximately 8.2x as of the
LTM period ended March 31, 2019 (Moody's-adjusted, including the
expensing of capitalized software development costs), ABC has
limited flexibility to react to technological disruptions,
increased competition, customer losses, or other unanticipated
shocks. Nonetheless, Moody's anticipates that revenue growth will
remain robust as its largest customers continue to expand
expeditiously, and view the mission critical, low-cost nature of
its services as mitigating near-term customer concentration event
risk. ABC's good liquidity, particularly its free cash flow
generation, also provides vital credit support and allows the
company to operate with such a heavy debt burden.

The stable outlook reflects its expectation for mid- to high-single
digit percentage range revenue growth, continued high customer
retention, and positive free cash flow generation. The stable
outlook also reflects its expectation that ABC Financial will
likely seek to enhance growth through debt-financed acquisitions
that limit the amount of deleveraging.

The ratings could be upgraded if Moody's anticipates: 1) debt to
EBITDA sustained below 6 times; 2) free cash flow to debt
maintained above 6%; 3) good liquidity; and 4) a commitment to
balanced financial policies.

The ratings could be downgraded if: 1) customer retention or
spending declines; 2) debt to EBITDA sustained around 8 times or
higher; or 3) liquidity deteriorates including free cash
flow-to-debt falling below 2%.

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

Based in Sherwood, AR, and controlled by financial sponsor Thoma
Bravo, ABC Financial provides gym, health club and fitness studio
management and billing software and services to clients in the U.S,
Mexico, and Canada. 2018 revenue approximated $200 million.


R&J LIMITED: $935K Sale of Long Beach Property to Perry Approved
----------------------------------------------------------------
Judge Neil W. Bason of the U.S. Bankruptcy Court for the Central
District of California authorized R&J Limited Partnership and
affiliate JRJ Limited Partnership to sell R&J's real property
located at 675 East Wardlow Rd., Long Beach, California to Jeffrey
Lee Perry for $935,000.

A hearing on the Motion was held on May 21, 2019 at 1:00 p.m.

The sale is free and clear of any and all Encumbrances.

The sale of the Real Property will not pay Bayview’s claim in
full, and the remaining amount of Bayview's claim, subject to the
Debtor's objections to it, will remain secured against the other
real properties owned by the Debtor located at 640 East Wardlow
Rd., Long Beach, CA, 3373 Lime Avenue, Signal Hill, California, and
3355 Lime Avenue, Signal Hill, California, all of which are
contiguous, in accordance with the terms of the original loan
transaction between the parties.

At or promptly after the closing of the sale of the Real Property,
the Debtor and the escrow holder are authorized and directed to pay
directly from escrow the proceeds of the Sale:

     a. Payment of Broker: A 6% commission to Broker, whose address
is 2155 Bellflower Blvd., Long Beach, CA 90815, from the purchase
price of the Real Property.  Because the sale price is $935,000,
which is the purchase price offered by the Purchaser, Broker is
entitled to a dollar amount of $56,100;

     b. Payment of Escrow and Title: The Debtor's own portion (one
half) of the Escrow Fee and for owner's title insurance from the
purchase price of the Real Property. These fees and expenses are
estimated to be $3,185;

     c. Transfer Costs: The County transfer tax or transfer fee and
the City transfer tax or transfer fee from the purchase price of
the Real Property.  This fee is estimated to be $1,029;

     d. Real Property Taxes: Unpaid real estate taxes owing to the
Los Angeles County Tax Collector, estimated in the amount of $861;


     e. Miscellaneous Disbursements: The Natural Hazard Disclosure
Report in the amount of approximately $129, the Fence Removal fee
in the amount of approximately $2,000, the fee for removal of
personal property from the Real Property in the amount of
approximately $2,500, and any amounts owing to the Franchise Tax
Board in the amount of approximately $2,600;

     f. The fee of $25,000 that the Debtor sought to pay to Epps &
Coulson, LLP for legal work to complete the transaction is
eliminated and instead those funds are paid to Bayview from the
proceeds of the sale.  The Debtor and Epps & Coulson, LLP agree to
eliminate this fee from the closing statement and do so in order to
expedite and close the sale proposed by the Motion.

     g. Remaining Proceeds to Bayview. After deduction of the items
set forth, which will be paid at the closing of the sale, the
estimated remainder of the proceeds of the sale is the sum of
$868,319, all of which will be paid to Bayview  towards payment of
a portion of its secured debt.

Notwithstanding Bankruptcy Rule 6004(h), and to any extent
necessary under Bankruptcy Rule 9014 and any other applicable rule
or law, the Order will be effective and enforceable immediately
upon entry thereof.  

                          About R&J LP

R&J Limited Partnership (Bankr. C.D. Cal. Case No. 15-11029) and
affiliate JRJ Limited Partnership (Bankr. C.D. Cal. Case No.
15-11040) sought Chapter 11 protection on Jan. 23, 2015.  R&J's
case is assigned to Judge Neil W. Bason and JRJ's to Judge Sandra
R. Klein.

The Debtors estimated assets in the range of $1 million to 10
million.

The Debtors tapped Vanessa M Haberbush, Esq., at Haberbush &
Associates, LLP as counsel.

The petitions were signed by James W. Foasberg, president of R&J
Investment Management Inc., general partner of Debtors.

The Court has confirmed the Debtors' Joint Chapter 11 Plan of Both
R&J Limited Partnership and JRJ Limited Partnership Dated December
13, 2016.



REPLICEL LIFE: Requires More Funding to Continue as Going Concern
-----------------------------------------------------------------
RepliCel Life Sciences Inc. filed its Form 6-K, disclosing a net
and comprehensive loss of CAD827,040 on CAD63,152 of revenue for
the three months ended March 31, 2019, compared to a net and
comprehensive loss of CAD492,466 on CAD0 of revenue for the same
period in 2018.

At March 31, 2019 the Company had total assets of CAD1,860,868,
total liabilities of CAD2,875,175, and CAD1,014,307 in total
shareholders' deficit.

At March 31, 2019, the Company is in the research stage, has
accumulated losses of CAD34,386,137 since its inception and expects
to incur further losses in the development of its business.  The
Company incurred a consolidated net loss of CAD827,040 during the
three month period ended March 31, 2019.  The Company will require
additional funding to continue its research and development
activities which may not be available, or available on acceptable
terms.  This will result in material uncertainties which casts
substantial doubt about the Company's ability to continue as a
going concern.

A copy of the Form 6-K is available at:

                       https://is.gd/mCdGoI

RepliCel Life Sciences Inc., a regenerative medicine company,
focuses on developing autologous cell therapies that treat
functional cellular deficits. The company's treatments use
autologous cell therapy, which isolates an individual's own cells
from harvested tissues and growing more in controlled conditions in
a laboratory. Its product candidates include RCT-01, which is in
Phase I/II clinical trial for the treatment of chronic tendinosis;
RCS-01 that is in Phase I clinical trial to treat aging and sun
damaged skin; and RCH-01, which is preparing for its Phase II
clinical trial for the treatment of hair loss. The company is also
developing RCI-02, a dermal injector device.  RepliCel is
headquartered in Vancouver, Canada.


RICHARD SOLBERG: Trustee's $190K Sale of 288-Acre Land to AXA OK'd
------------------------------------------------------------------
Judge Michael E. Ridgway of the U.S. Bankruptcy Court for the
District of Minnesota authorized David G. Velde, Trustee of Richard
Allen Solberg, doing business as Solberg Farms Minnesota, to sell
the 287.7 acres of land to AXA Equitable Life Insurance, Co. for
$190,000.

The property is legally described as: The SW1/4, and the SE 1/4, of
Section 20, in Township 162 North, Range 42 West of the Fifth
Principal Meridian in Minnesota, according to the United States
Government Survey thereof.  Less the SW 1/4 of the SE 1/4 of
Section 20, in Township 162 North, Range 42 West of the Fifth
Principal Meridian in Minnesota, according to the United States
Government Survey thereof.

The sale is free and clear of any liens, claims or interests, with
such interests, if any, attaching to the proceeds of sale.

Notwithstanding Fed. R. Bankr. P. 6004(g), the Order is effective
immediately.

The Trustee is authorized to reimburse the Motion fee from the
bankruptcy estate.

Richard Allen Solberg sought Chapter 11 protection (Bankr. D. Minn.
Case No. 17-60495) on Aug. 11, 2017.  The Debtor tapped Kevin T.
Duffy, Esq., at Duffy Law Office, as counsel.



RIVERA FAMILY: $1.2M Sale of Onalaska Property to BLP Approved
--------------------------------------------------------------
Judge Brett H. Ludwig of the U.S. Bankruptcy Court for the Western
District of Wisconsin authorized Rivera Family Holdings, LLC's sale
of the real property located at 9550 E. 16th Frontage Road,
Onalaska, Wisconsin, and personal property located thereon, to BLP
Holdings, LLC or Assignee for $1,234,250.

The sale is free and clear of all liens, with the liens attaching
to the proceeds in the order of priority.

The proceeds from the sale of real estate will be distributed as
follows:

     a. Closing costs relating to the sale of property including
title policy commitment, transfer fees, recording fees,
commissions, surveying costs (if any), attorney’s fees and
disbursements for Galen W. Pittman (not to exceed $2,500) relating
to the sale of the property or other necessary and miscellaneous
closing costs.  The attorney fees in the amount of $2,000 will be
placed in Trust; but the Court must approve said fees prior to
disbursement to Galen W. Pittman.

     b. Payment of any delinquent or accrued real estate taxes that
are not covered by the Buyer in the offer to purchase.

     c. The net proceeds of the sale will be paid in the order of
priority of liens against the property.  Park Bank (Holmen) holds a
first Mortgage on the real estate and the entire amount of net
proceeds of the sale will be paid to the Park Bank (Holmen).  There
will be no other proceeds for distribution either to the debtor or
in trust.

                   About Rivera Family Holding

Rivera Family Holdings, LLC, a privately held company in Onalaska,
Wisconsin, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Wis. Case No. 18-11448) on April 30, 2018.  In
the petition signed by Lynnae Rivera, authorized representative,
the Debtor estimated assets of $1 million to $10 million and
liabilities of $1 million to $10 million.  Judge Brett H. Ludwig
oversees the case.  Pittman & Pittman Law Offices, LLC, is the
Debtor's legal counsel.  The Debtor hired hired TAP Consulting,
LLC, as accountant.


ROBERT STEWART INC: Case Summary & Unsecured Creditor
-----------------------------------------------------
Debtor: Robert Stewart, Inc.
        632 Cotton Road
        Canton, GA 30115

Business Description: Robert Stewart, Inc. is a Single Asset Real
                      Estate (as defined in 11 U.S.C. Section
                      101(51B)).

Chapter 11 Petition Date: June 3, 2019

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Case No.: 19-58645

Debtor's Counsel: Leslie M. Pineyro, Esq.
                  JONES & WALDEN, LLC
                  21 Eighth Street, NE
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: 404-564-9301
                  E-mail: lpineyro@joneswalden.com
                          info@joneswalden.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Brian Stewart, CFO.

The Debtor lists Morris Bank as its sole unsecured creditor holding
a claim of $9,700,000.

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

           http://bankrupt.com/misc/ganb19-58645.pdf


SCOOBEEZ INC: Committee Taps Levene Neale as Bankruptcy Counsel
---------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of Scoobeez and Scoobeez Global, Inc. seeks
authority from the U.S. Bankruptcy Court for the Central District
of California to hire Levene, Neale, Bender, Yoo & Brill LLP as its
bankruptcy counsel.

The services to be provided by Levene are:

     a. advise the committee regarding the requirements of U.S.
bankruptcy law, the bankruptcy court and the Office of the U.S.
Trustee;

     b. advise the committee regarding the rights and remedies of
the Debtors' bankruptcy estates and the rights, claims and
interests of creditors;

     c. represent the committee in court proceedings or hearings
involving the Debtors' estates unless the committee is represented
by a special counsel;

     d. conduct examinations of witnesses, claimants or adverse
parties and represent the committee in adversary proceedings;

     e. assist the committee in evaluating the sale or disposition
of the Debtors' assets; and

     f. represent the committee in the negotiation, formulation,
preparation and confirmation of a plan of reorganization.

The firm's 2019 rates are:

     David W. Levene        625
     David L. Neale         625
     Ron Bender             625
     Martin J. Brill        625
     Timothy J. Yoo         625
     Gary E. Klausner       625
     Edward M. Wolkowitz    625
     David B. Golubchik     625
     Beth Ann R. Young      595
     Monica Y. Kim          595
     Daniel H. Reiss        595
     Irving M. Gross        595
     Philip A. Gasteier     595
     Eve H. Karasik         595
     Todd A. Frealy         595
     Kurt Ramlo             595
     Juliet Y. Oh           580
     Todd M. Arnold         580
     Carmela T. Pagay       580
     Anthony A. Friedman    580
     Krikor J. Meshefejian  580
     John-Patrick M. Fritz  580
     Lindsey L. Smith       495
     Jeffrey Kwong          450
     Paraprofessionals      250

David Neale, Esq., at Levene, attests that his firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     David L. Neale, Esq.
     Levene, Neale, Bender, Yoo & Brill LLP
     10250 Constellation Boulevard, Suite 1700
     Los Angeles, CA 90067
     Tel: (310) 229-1234
     Fax: (310) 229-1244
     Email: dln@lnbyb.com

              About Scoobeez

Scoobeez Inc. -- https://www.scoobeez.com -- operates an on demand
door-to-door logistics and real time delivery service company.  It
offers messaging, same day and preferred deliveries, and courier
services.

Scoobeez and its affiliates, Scoobeez Global Inc. and Scoobur LLC,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Calif. Lead Case No. 19-14989) on April 30, 2019.  The cases
have been assigned to Judge Julia W. Brand.

At the time of the filing, Scoobeez had estimated assets and
liabilities of between $10 million and $50 million while Scoobur
had estimated assets and liabilities of less than $50,000.
Menawhile, Scoobeez Global disclosed $6,274,654 in assets and
$7,886,579 in liabilities.

Foley & Lardner LLP is the Debtors' bankruptcy counsel.


SEELOS THERAPEUTICS: Needs More Financing to Remain Going Concern
-----------------------------------------------------------------
Seelos Therapeutics, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $35,512,000 on $0 of revenue for the three
months ended March 31, 2019, compared to a net loss of $661,000 on
$0 of revenue for the same period in 2018.

At March 31, 2019 the Company had total assets of $12,344,000,
total liabilities of $9,307,000, and $3,037,000 in total
shareholders' equity.

Company President and Chief Executive Officer, Raj Mehra, Ph.D.,
said, "Given our lack of current cash flow, we will need to raise
additional capital; however, it may be unavailable to us or, even
if capital is obtained, may cause dilution or place significant
restrictions on our ability to operate our business.  If we fail to
raise the necessary additional capital, we may be unable to
complete the development and commercialization of our product
candidates, or continue or development programs.

"Since we will be unable to generate sufficient, if any, cash flow
to fund our operations for the foreseeable future, we will need to
seek additional equity or debt financing to provide the capital
required to maintain or expand our operations.

"As of March 31, 2019, we had a cash balance of approximately $11.3
million.

"As a result of our recurring losses from operations, there is
uncertainty regarding our ability to maintain liquidity sufficient
to operate our business effectively, which raises substantial doubt
about our ability to continue as a going concern.  If we are
unsuccessful in our efforts to raise outside financing, we may be
required to significantly reduce or cease operations.  The report
of our independent registered public accounting firm on our audited
financial statements for the year ended December 31, 2018 included
a "going concern" explanatory paragraph indicating that our
recurring losses from operations raise substantial doubt about our
ability to continue as a going concern."

A copy of the Form 10-Q is available at:

                       https://is.gd/zd3B2N

Seelos Therapeutics, Inc., a clinical-stage biopharmaceutical
company, focuses on developing technologies and therapeutics for
the treatment of central nervous system, respiratory, and other
disorders. The company is focused on neurological and psychiatric
disorders, including orphan indications. Its lead programs are
SLS-002, an intranasal racemic ketamine for the treatment of
suicidality in post-traumatic stress disorder and in depressive
disorder; and SLS-006, a partial dopamine agonist for monotherapy
in early stage Parkinson's disease patients.  The company was
founded in 2016 and is based in New York, New York.


SOFTWARE OPS: Case Summary & 6 Unsecured Creditors
--------------------------------------------------
Debtor: Software Ops LLC
        6513 E. Running Deer Trail
        Scottsdale, AZ 85266

Business Description: Software Ops LLC --
                      http://www.softwareops.com/--
                      is a full service company that builds mobile

                      app systems for both startups and enterprise

                      businesses.  The Company builds
                      sophisticated mobile platforms for iOS,
                      Android and web apps using advanced cloud
                      technologies to tie functionality together.

Chapter 11 Petition Date: June 3, 2019

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Case No.: 19-06831

Judge: Hon. Scott H. Gan

Debtor's Counsel: Thomas H. Allen, Esq.
                  ALLEN BARNES & JONES, PLC
                  1850 N. Central Ave., #1150
                  Phoenix, AZ 85004
                  Tel: 602-256-6000
                  Fax: 602-252-4712
                  E-mail: tallen@allenbarneslaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joseph Michels, manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's six unsecured creditors is available for free
at:

         http://bankrupt.com/misc/azb19-06831.pdf


STANDARD RUBBER: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Standard Rubber Products, Inc.
        64 B Street
        Hanover, MA 02339

Business Description: Standard Rubber Products, Inc.'s
                      line of business includes the production of
                      rubberized goods, rubberized fabrics, and
                      miscellaneous rubber specialties.

Chapter 11 Petition Date: June 3, 2019

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Case No.: 19-11911

Judge: Hon. Melvin S. Hoffman

Debtor's Counsel: Nina M. Parker, Esq.
                  PARKER & ASSOCIATES
                  10 Converse Place, Suite 201
                  Winchester, MA 01890
                  Tel: (781) 729-0005
                  Fax: (781) 729-0187
                  E-mail: nparker@ninaparker.com

Total Assets: $673,799

Total Liabilities: $1,421,371

The petition was signed by Patricia L. Davis, president, treasurer,
secretary, and director.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at:

           http://bankrupt.com/misc/mab19-11911.pdf


STRATEGIC ENVIRONMENTAL: Recurring Losses Cast Going Concern Doubt
------------------------------------------------------------------
Strategic Environmental & Energy Resources, Inc., filed its
quarterly report on Form 10-Q/A, disclosing a net loss of $578,900
on $1,392,400 of total revenue for the three months ended March 31,
2019, compared to a net loss of $747,300 on $1,896,100 of total
revenue for the same period in 2018.

At March 31, 2019 the Company had total assets of $4,126,300, total
liabilities of $8,394,700, and $4,268,400 in total deficit.

The Company has experienced recurring losses, and has accumulated a
deficit of approximately $25 million as of March 31, 2019, and
$24.4 million as of December 31, 2018.  For the three months ended
March 31, 2019 and 2018, the Company had net losses from continuing
operations before adjustment for losses attributable to
non-controlling interest of approximately $0.6 million and $0.7
million, respectively.  As of March 31, 2019, and December 31,
2018, the Company's current liabilities exceed its current assets
by approximately $5.4 million and $5.3 million, respectively.

The Company said, "The primary reason for the increase in negative
working capital from December 31, 2018 to March 31, 2019 is due to
a net increase in short term debt of approximately $.4 million.
The Company has limited common shares available for issue which may
limit the ability to raise capital or settle debt through issuance
of shares.  These factors raise substantial doubt about the ability
of the Company to continue to operate as a going concern for a
period of at least one year after the date of the issuance of our
audited financial statements for the period ended December 31,
2018."

A copy of the Form 10-Q/A is available at:

                       https://is.gd/bBRqA9

Strategic Environmental & Energy Resources, Inc., together with its
subsidiaries, provides clean-technologies, waste management
innovations, and related services to companies primarily in the oil
and gas, refining, landfill, food, beverage and agriculture, and
renewable fuel industries in the United States and internationally.
The company operates in three segments: Industrial Cleaning,
Environmental Solutions, and Solid Waste.  The company is
headquartered in Golden, Colorado.  Strategic is a subsidiary of
New Stratus Energy Inc.


SUN PACIFIC: Seeks More Capital Sources to Continue Going Concern
-----------------------------------------------------------------
Sun Pacific Holding Corp filed its quarterly report on Form 10-Q/A,
disclosing a net loss of $570,707 on $108,365 of revenues for the
three months ended March 31, 2019, compared to a net loss of
$410,445 on $120,740 of revenues for the same period in 2018.

At March 31, 2019 the Company had total assets of $7,057,290, total
liabilities of $10,226,460, and $3,169,170 in total stockholders'
deficit.

For the three months ended March 31, 2019 and 2018, the Company
incurred losses of $570.707 and $410,445, respectively, and used
$249,125 and $92,841, respectively, of cash in operations.  The
Company has a working capital deficit of $5,074,819 as of March 31,
2019.  These circumstances raise substantial doubt about the
Company's ability to continue as a going concern.

The Company's Chief Executive Officer and Chief Financial Officer
Nicholas Campanella stated, "The Company's ability to continue as a
going concern is dependent on its ability to raise the additional
capital to meet short and long-term operating requirements.
Management is continuing to pursue external financing alternatives
to improve the Company's working capital position however
additional financing may not be available upon acceptable terms, or
at all.  If the Company is unable to obtain the necessary capital,
the Company may have to cease operations."

A copy of the Form 10-Q/A is available at:

                       https://is.gd/6Nekvu

Sun Pacific Holding Corp., a green energy company, provides solar
panel and lighting products in the United States. The company
offers solar bus stops, solar trashcans, and street kiosks, as well
as advertising services. It also provides general, electrical, and
plumbing contracting services to a range of public and commercials
customers. In addition, the company engages in building and
developing a waste to energy plant in the State of Rhode Island.
The company was founded in 2009 and is based in Manalapan, New
Jersey. Sun Pacific Holding Corp. is a subsidiary of EXOlifestyle,
Inc.


TEARDROPPERS: Anticipated Future Losses Cast Going Concern Doubt
----------------------------------------------------------------
The Teardroppers, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $78,805 on $13,275 of revenues for the
three months ended March 31, 2019, compared to a net loss of
$70,941 on $4,000 of revenues for the same period in 2018.

At March 31, 2019 the Company had total assets of $256,708, total
liabilities of $1,103,125, and $846,417 in total stockholders'
deficit.

The Company has a minimum cash balance available for payment of
ongoing operating expenses and has incurred losses since inception
and anticipates future losses in the development of its business
raising substantial doubt about the Company's ability to continue
as a going concern.  Its continued existence is dependent upon its
ability to continue to execute its operating plan and to obtain
additional debt or equity financing.

The Company said, "There can be no assurance the necessary debt or
equity financing will be available, or will be available on terms
acceptable to the Company."

A copy of the Form 10-Q is available at:

                       https://is.gd/vAAKvd

The Teardroppers, Inc., focuses on mobile outdoor billboard
advertising business. It intends to offer advertising space on
custom designed and manufactured teardrop trailers that are
designed for short-period accommodations for vacationers and
travelers; and standard cargo trailers.  The Teardroppers was
founded in 2013 and is based in Newport Beach, California.


TEMPNOLOGY LLC: Trademark License Can't Be Revoked in Bankruptcy
----------------------------------------------------------------
Edward H. Sadtler, Esq., and Scott M. Kareff, Esq., of Schulte Roth
& Zabel, disclosed that on May 20, 2019, the U.S. Supreme Court
issued a ruling of key significance for trademark licensing and for
acquisitions, investments, financings and other transactions in
which trademark licenses are a key value driver. In Mission Product
Holdings, Inc. v. Tempnology, LLC, the Court held, 8-1, that where
the licensor of a trademark rejects a trademark license in
bankruptcy, the rejection does not deprive the licensee of its
rights to use the licensed trademark(s).  By setting aside the
so-called "rejection-as-rescission" approach in favor of the
"rejection-as-breach" approach, the Court's holding resolves a
legal issue that had been outstanding for decades in favor of
protecting a trademark licensee's rights.

Background
The origin of the conflict resolved by the May 2019 decision goes
back to 1985, when the Fourth Circuit adopted the
"rejection-as-rescission" approach in Lubrizol Enterprises v.
Richmond Metal Finishers, holding that a debtor's rejection of an
executory contract (i.e., a contract under which neither party has
completed performance) worked to revoke its grant of a patent
license.  In response to this decision, which was widely criticized
by commentators, in 1988, Congress added Section 365(n) to Chapter
11 of the Bankruptcy Code.  Section 365(n) provides that a licensee
"of a right to intellectual property" may elect to retain its
rights under a license, notwithstanding the debtor's rejection of
the license.

The definition of "intellectual property" in Chapter 11 does not,
however, expressly mention "trademarks."  Due to this omission,
Section 365(n) was often construed by commentators to mean that,
when a licensor rejects a trademark license in bankruptcy, the
licensee loses the right to use the licensed trademark(s).  Yet,
for 30 years, whether or not this interpretation was correct was
left unresolved. In fact, in its amicus brief, the International
Trademark Association characterized the question at hand for the
Court as "the most significant unresolved legal issue in trademark
licensing."

Circuit Split
In 2012, in Sunbeam, the Seventh Circuit declined to adopt the
"rejection-as-rescission" approach, finding that Section 365(g)
provides only that the rejection of a contract "constitutes a
breach," and that nowhere under the Bankruptcy Code or applicable
contract law does it follow that the licensor has the right to
"vaporize" the counterparty's rights.  In 2018, the First Circuit
rejected the Seventh Circuit's view and instead endorsed the view
that Section 365(n), and certain special features of trademark law,
weigh against permitting a licensee to retain its rights after a
trademark license has been rejected.[6] The Supreme Court granted
certiorari to resolve the circuit split.

Supreme Court Decision
In an opinion authored by Justice Elena Kagan, the Supreme Court
reversed the First Circuit, finding that "Section 365's text and
fundamental principles of bankruptcy law command" that the
rejection of a contract in bankruptcy operates only as a breach,
and not as a rescission, of the contract.  The Court flatly
rejected the First Circuit's reading of Section 365, based on a
negative inference flowing from the omission of "trademarks" from
the definition of "intellectual property," that "by specifically
enabling the counterparties in some contracts to retain rights
after rejection, Congress showed that it wanted the counterparties
in all other contracts to lose their rights."  The Court found
that, based on the plain text of Section 365, general principles of
contract law, and the Bankruptcy Code's stringent limits on
avoidance actions (i.e., cases in which debtors may unwind
pre-bankruptcy transactions), the general rule set out in Section
365(g), rejection-as-breach, applies to trademark licenses.  The
Court rejected the view that special features of trademark law (in
particular, a licensor's duty to exercise quality control over the
goods and services sold under a license) mandate ignoring what
365(a) and 365(g) direct.

Having found that rejection of a contract "breaches a contract but
does not rescind it," the Court observed that, as a practical
matter, the licensee (not the licensor) is faced with a choice: it
"can continue to do whatever the license authorizes" or consider
the license to be terminated and walk away.

Implications for Corporate Transactions
Prior to the May 2019 decision, for a trademark licensee, there was
a looming possibility that its rights could be revoked if the
licensor went bankrupt.  The loss of such license rights could, of
course, have serious consequences, such as requiring a licensee to
re-brand an entire line of goods or services for which the licensee
had invested significant resources to develop the brand or
preventing the marketing and sale of a large inventory of branded
products.

While deal structures have been developed to protect licensees
against this seemingly harsh result (e.g., by putting the brand in
a bankruptcy remote entity or having the licensee take a security
interest in the trademarks to secure the obligations under the
license), the uncertainty in the law imposed an added layer of
complexity -- and with it greater time and expense -- to deals
involving material trademark license rights.

By creating greater certainty as to what happens to a trademark
license in the event of the licensor's bankruptcy, the Court's
holding should, in many respects, lessen the challenges in getting
to the finish line on a deal involving material trademark licenses.
However, dealmakers should bear in mind that with greater
certainty for the licensee comes less optionality for the licensor
and factor that into their assessment of what rights a trademark
licensor will or should insist on when negotiating the terms of
trademark license agreements after this decision.

Questions Remain
Because it only addresses whether a debtor-licensor's rejection of
a license deprives the licensee of its rights under a trademark
license, the Court's holding leaves many questions unanswered.  For
instance, what remedies does a licensee have against a debtor who
rejects a license and subsequently refuses to perform? While
Section 365(g) provides that the licensee has a breach claim, the
breach is viewed as arising immediately before the bankruptcy
filing.  This means that a licensee seeking to recover damages must
get in line with the other unsecured parties, and is likely to see
only pennies on the dollar.  Likewise, if the license requires the
licensor to maintain registrations for a trademark, and the
licensor fails to do so, might an exclusive or nonexclusive
licensee be able to step in to preserve the trademarks itself? Or
is the licensee left with only a breach claim? Similarly, what
happens if a licensor fails to enforce its rights against
infringers who are selling products in competition with the
licensee?

From a licensor's perspective, the decision suggests that if a
rejecting debtor-licensor also ceases to perform, it does so at its
peril.  In particular, failure to exercise quality control over the
goods and services sold under the licensed trademark(s) could
result in the loss of its rights in the trademark to the extent the
trademark ceases to serve its function of representing the quality
of the goods or services sold under the trademark.

In negotiating trademark licenses, it will be important to consider
whether language addressing these issues should be added to
accomplish your objectives.

                      About Tempnology LLC

Tempnology LLC, doing business as Coolcore, sought Chapter 11
protection (Bankr. D.N.H Case No. 15-11400) in Manchester, New
Hampshire on Sept. 1, 2015.  In the petition signed by Kevin
McCarthy, CEO, the Debtor disclosed $2.7 million in total assets
and $6.2 million and total debt.  

Judge Bruce A. Harwood oversees the case.

Tempnology tapped Christopher M. Desiderio, Esq. --
cdesiderio@nixonpeabody.com -- Nixon Peabody, LLC, Lee Harrington,
Esq. -- lharrington@nixonpeabody.com -- Nixon Peabody, LLP, Daniel
W. Sklar, Esq. -- dsklar@nixonpeabody.com -- Nixon Peabody LLP, as
counsel.  The Debtor also tapped Phoenix Capital Partners as
investment banker.


ULTRA PETROLEUM: Chief Accounting Officer Tenders Resignation
-------------------------------------------------------------
Maree K. Delgado informed Ultra Petroleum Corp. on May 28, 2019,
of her intention to resign as vice president and chief accounting
officer of the Company to pursue other opportunities.  The
effective date of Ms. Delgado's resignation is expected to be on or
about June 27, 2019.  The Company said there were no disagreements
between Ms. Delgado and the Company which led to her resignation.
David W. Honeyfield, senior vice president and chief financial
officer of the Company, will assume the responsibilities of interim
principal accounting officer of the Company.

                        About Ultra Petroleum

Headquartered in Englewood, Colorado, Ultra Petroleum Corp. --
http://www.ultrapetroleum.com/-- is an independent energy company
engaged in domestic natural gas and oil exploration, development
and production.  The Company is listed on NASDAQ and trades under
the ticker symbol "UPL".

As of March 31, 2019, the Company had $1.83 billion in total
assets, $2.74 billion in total liabilities, and a total
shareholders' deficit of $914 million.

On Jan. 29, 2019, Ultra Petroleum received written notice from the
Listing Qualifications Staff of The NASDAQ Stock Market LLC
notifying the Company that its common shares, no par value, closed
below the $1.00 per share minimum bid price required by NASDAQ
Listing Rule 5450(a)(1) for 30 consecutive business days. NASDAQ's
notice had no immediate effect on the listing or trading of the
Company's common shares, which will continue to trade on The NASDAQ
Global Select Market under the symbol "UPL".  In accordance with
NASDAQ Listing Rule 5810(c)(3)(A), the Company has an automatic
period of 180 calendar days, or until July 29, 2019, to achieve
compliance with the minimum bid price requirement.

                           *    *     *

As reported by the TCR on March 26, 2019, S&P Global Ratings raised
its issuer credit rating on U.S.-based oil and gas exploration and
production (E&P) company Ultra Petroleum Corp. to 'CCC+' from 'SD'
(selective default).  "The upgrade reflects a reassessment of our
issuer credit rating on Ultra following the company's completion of
several debt exchanges, whereby holders of approximately an
aggregate $550 million of its 6.875% unsecured notes due 2022 and
$275 million of its 7.125% unsecured notes due 2025 exchanged their
debt for warrants and $572 million of new 9% cash/2%
payment-in-kind second-lien notes due 2024.


ULTRA PETROLEUM: Further Extends Tender Offer Deadlines
-------------------------------------------------------
With respect to the previously announced private offer to exchange
outstanding 7.125% Senior Notes due 2025 of its wholly owned
subsidiary, Ultra Resources, Inc., for up to $90.0 million
aggregate principal amount of new 9.00% Cash / 2.50% PIK Senior
Secured Third Lien Notes due 2024 of Ultra Resources, Ultra
Petroleum Corp. has further extended the Early Participation Date
and the Withdrawal Deadline to 5:00 p.m., New York City time, on
Friday, June 7, 2019.  All other terms and conditions of the
Exchange Offer as set forth in the confidential offering memorandum
dated May 9, 2019 and related letter of transmittal remain
unchanged.

As previously announced, the Exchange Offer will expire at 5:00
p.m., Eastern Time, on June 10, 2019, unless extended.

The Exchange Offer is conditioned on the satisfaction or waiver of
certain conditions as described in the Offering Documents.  The
Exchange Offer for the 2025 Notes may be amended, extended or
terminated by Ultra Resources at its sole option.

The Exchange Offer is only being made, and copies of the Offering
Documents will only be made available, to beneficial holders of the
2025 Notes that have properly completed and returned an eligibility
form confirming that they are (1) a "qualified institutional buyer"
within the meaning of Rule 144A under the Securities Act of 1933,
as amended, or (2) not a "U.S. person" and are outside of the
United States within the meaning of Regulation S under the
Securities Act and, if resident in Canada, (x) an "accredited
investor," as defined in National Instrument 45-106 – Prospectus
Exemptions or subsection 73.3(1) of the Securities Act (Ontario),
that either would acquire the Third Lien Notes for its own account
or would be deemed to be acquiring the Third Lien Notes as
principal by applicable law, (y) a "permitted client" within the
meaning of NI 31-103 – Registration Requirements, Exemptions and
Ongoing Registrant Obligations, and (z) a resident of the province
of Alberta, British Columbia, Manitoba, Ontario, Quebec or
Saskatchewan.  Holders of the 2025 Notes who desire to obtain and
complete an eligibility form should contact the information agent
and exchange agent, D.F. King & Co., Inc., at (800) 967-5074
(toll-free) or (212) 269-5550 (for banks and brokers), or via the
following website: www.dfking.com/UPL or email upl@dfking.com.

Eligible holders are urged to carefully read the Offering Documents
before making any decision with respect to the Exchange Offer. None
of the Company, Ultra Resources, the dealer manager, the trustee
with respect to the 2025 Notes and the Third Lien Notes, the
exchange agent, the information agent or any affiliate of any of
them makes any recommendation as to whether eligible holders of the
2025 Notes should exchange their 2025 Notes for Third Lien Notes in
the Exchange Offer, and no one has been authorized by any of them
to make such a recommendation.  Eligible holders must make their
own decision as to whether to tender 2025 Notes and, if so, the
principal amount of 2025 Notes to tender.

The Third Lien Notes and the Exchange Offer have not been and will
not be registered with the U.S. Securities and Exchange Commission
under the Securities Act, or any state or foreign securities laws.
The Third Lien Notes may not be offered or sold in the United
States or to or for the account or benefit of any U.S. persons
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act.
The Third Lien Notes will not be qualified for distribution under
applicable Canadian securities laws and, accordingly, any
distribution of Third Lien Notes to persons resident in Canada will
be made only pursuant to an exemption from the prospectus
requirements of applicable Canadian securities laws.  The Exchange
Offer is not being made to holders of 2025 Notes in any
jurisdiction in which the making or acceptance thereof would not be
in compliance with the securities, blue sky or other laws of such
jurisdiction.

                       About Ultra Petroleum

Headquartered in Englewood, Colorado, Ultra Petroleum Corp. --
http://www.ultrapetroleum.com/-- is an independent energy company
engaged in domestic natural gas and oil exploration, development
and production.  The Company is listed on NASDAQ and trades under
the ticker symbol "UPL".

As of March 31, 2019, the Company had $1.83 billion in total
assets, $2.74 billion in total liabilities, and a total
shareholders' deficit of $914 million.

On Jan. 29, 2019, Ultra Petroleum received written notice from the
Listing Qualifications Staff of The NASDAQ Stock Market LLC
notifying the Company that its common shares, no par value, closed
below the $1.00 per share minimum bid price required by NASDAQ
Listing Rule 5450(a)(1) for 30 consecutive business days. NASDAQ's
notice had no immediate effect on the listing or trading of the
Company's common shares, which will continue to trade on The NASDAQ
Global Select Market under the symbol "UPL".  In accordance with
NASDAQ Listing Rule 5810(c)(3)(A), the Company has an automatic
period of 180 calendar days, or until July 29, 2019, to achieve
compliance with the minimum bid price requirement.

                            *    *     *

As reported by the TCR on March 26, 2019, S&P Global Ratings raised
its issuer credit rating on U.S.-based oil and gas exploration and
production (E&P) company Ultra Petroleum Corp. to 'CCC+' from 'SD'
(selective default).  "The upgrade reflects a reassessment of our
issuer credit rating on Ultra following the company's completion of
several debt exchanges, whereby holders of approximately an
aggregate $550 million of its 6.875% unsecured notes due 2022 and
$275 million of its 7.125% unsecured notes due 2025 exchanged their
debt for warrants and $572 million of new 9% cash/2%
payment-in-kind second-lien notes due 2024.


ULTRA PETROLEUM: Provides Operational Update
--------------------------------------------
Ultra Petroleum Corp. has released a rig and reduced its operated
rig count in Pinedale from three to two.

Production guidance for full-year 2019 remains unchanged at 240 to
250 Bcfe while capital investment guidance for full-year 2019 is
reduced by $15 million to a new range of $305 to $335 million. In
May, the Company drilled 3 wells with spud to total depth times of
less than 6 days, compared to its first quarter average of 8.05
days.  Improved drilling cycle-time performance and higher working
interest in wells planned for the remainder of the year provides
for 2019 production guidance to remain unchanged while 2019 capital
investment is reduced by approximately 5 percent.

The Company said that its team continues to improve drilling
cycle-time performance.  As a result, the Company is drilling wells
faster and can accomplish our 2019 plan with the adjustment down to
two operated rigs for the remainder of the year.  "With increased
drilling efficiency, along with higher working interest in wells
planned for the remainder of the year, we are maintaining full year
production guidance, reducing capital investment and moving the
Company closer to its projection of free cash flow in the fourth
quarter of 2019," said Ultra Petroleum's President and CEO Brad
Johnson.

Senior management plans to participate in one-on-one meetings at
both the Barclays High Yield Bond & Syndicated Loan Conference in
Colorado Springs, Colorado, on Thursday, June 6 and the Stifel 2019
Cross Sector Insight Conference in Boston, on Tuesday,
June 11.

                    About Ultra Petroleum

Headquartered in Englewood, Colorado, Ultra Petroleum Corp. --
http://www.ultrapetroleum.com/-- is an independent energy company
engaged in domestic natural gas and oil exploration, development
and production.  The Company is listed on NASDAQ and trades under
the ticker symbol "UPL".

As of March 31, 2019, the Company had $1.83 billion in total
assets, $2.74 billion in total liabilities, and a total
shareholders' deficit of $914 million.

On Jan. 29, 2019, Ultra Petroleum received written notice from the
Listing Qualifications Staff of The NASDAQ Stock Market LLC
notifying the Company that its common shares, no par value, closed
below the $1.00 per share minimum bid price required by NASDAQ
Listing Rule 5450(a)(1) for 30 consecutive business days. NASDAQ's
notice had no immediate effect on the listing or trading of the
Company's common shares, which will continue to trade on The NASDAQ
Global Select Market under the symbol "UPL".  In accordance with
NASDAQ Listing Rule 5810(c)(3)(A), the Company has an automatic
period of 180 calendar days, or until July 29, 2019, to achieve
compliance with the minimum bid price requirement.

                           *    *     *

As reported by the TCR on March 26, 2019, S&P Global Ratings raised
its issuer credit rating on U.S.-based oil and gas exploration and
production (E&P) company Ultra Petroleum Corp. to 'CCC+' from 'SD'
(selective default).  "The upgrade reflects a reassessment of our
issuer credit rating on Ultra following the company's completion of
several debt exchanges, whereby holders of approximately an
aggregate $550 million of its 6.875% unsecured notes due 2022 and
$275 million of its 7.125% unsecured notes due 2025 exchanged their
debt for warrants and $572 million of new 9% cash/2%
payment-in-kind second-lien notes due 2024.


US RENAL: Moody's Assigns B3 CFR, Outlook Stable
------------------------------------------------
Moody's Investors Service assigned ratings to U.S. Renal Care,
Inc., including a B3 Corporate Family Rating and B3-PD Probability
of Default Rating. The rating agency also assigned a B2 rating to
the company's new senior secured revolving credit facility and term
loan. The outlook is stable.

Moody's expects that the proceeds from the proposed credit
facility, along with the issuance of junior debt capital and
equity, will be used to finance the $2.7 billion leveraged buyout
of the company by a consortium of private equity investors led by
Bain Capital and Summit Partners.

Ratings assigned:

U.S. Renal Care, Inc. (NEW)

Corporate Family Rating at B3

Probability of Default Rating at B3-PD

Senior secured revolving credit facility expiring
2024 at B2 (LGD 3)

Senior secured term loan due 2026 at B2 (LGD 3)

The outlook is stable.

RATINGS RATIONALE

U.S. Renal's B3 Corporate Family Rating reflects Moody's
expectation that the company's leverage will remain very high with
debt/EBITDA around 6.5 times over the next 12 to 18 months. The
rating is also constrained by the company's modest scale relative
to the two largest players in the sector, DaVita Inc. and Fresenius
Medical Care AG & Co. KGaA. Moody's also expects dialysis providers
such as U.S. Renal to face rising social risk that could lead to
legislation that reduces industry profitability. There is a
significant differential in reimbursement for commercial patients
versus Medicare patients, and the vast majority of industry profits
are consolidated among a few for-profit companies. Moody's believes
this raises longer-term risk around payment rates and
profitability.

The rating benefits from Moody's expectation for stable industry
demand, characterized by the increasing incidence of end stage
renal disease (ESRD) and the medical necessity of the service U.S.
Renal provides. Also, Moody's expects the company to operate with
very good liquidity during the next 12-18 months, supported by cash
in excess of $100 million and ample revolver availability.
Moreover, the rating agency expects U.S. Renal to generate
consistently positive free cash flow.

The stable outlook reflects Moody's expectation that U.S. Renal
will average mid-single-digit earnings growth during 2019-2021.
Earnings growth will be driven by new clinic openings, acquisitions
and organic treatment growth, offset in part by an unfavorable
shift in payor mix (i.e., increased shift towards Medicare),
reimbursement pressure, and elevated clinic costs.

The ratings could be downgraded if operating performance weakens,
or if U.S. Renal engages in debt-funded acquisitions or
shareholder-friendly actions. A downgrade could also occur if
Moody's expects a significant increase in the company's social risk
(e.g., unfavorable regulatory developments) or if liquidity
weakens.

The ratings could be upgraded if U.S. Renal successfully achieves
greater scale while effectively managing its growth. An upgrade
could also result from the company sustaining debt/EBITDA below 6.5
times.

U.S. Renal Care, Inc. provides dialysis services to patients who
suffer from chronic kidney failure. U.S. Renal provides dialysis
services through 334 outpatient facilities in 31 states and the
territory of Guam. It also provides acute dialysis services through
contractual relationships with hospitals and home dialysis
services. Revenues are approximately $1.3 billion. Following this
transaction, U.S. Renal Care will be owned by private equity firms
Bain Capital, Summit Partners, and Revelstoke Capital Partners,
along with other investors and management.


VANGUARD NATURAL: Marathon, et al., Hold $23MM of Term Loans
------------------------------------------------------------
In connection with the chapter 11 cases commenced by Vanguard
Natural Resources, Inc., and its debtor-affiliates, Brown Rudnick
LLP and Quinn Emanuel Urquhart & Sullivan, LLP, submitted in May
2019 a supplemental verified statement pursuant to Rule 2019(d) of
the Federal Rules of Bankruptcy Procedure with respect to their
representation of the Ad Hoc Committee of Term Loan Holders.

The Ad Hoc Committee of Term Loan Holders was formed by holders of
the Term Loans as defined under the Fourth Amended and Restated
Credit Agreement dated August 1, 2017, by and among Vanguard
Natural Gas, LLC as borrower, Citibank, N.A. as administrative
agent and issuing bank, and the lenders party thereto.

On March 29, 2019, the Ad Hoc Committee retained Brown Rudnick, and
Quinn Emanuel thereafter on March 31, 2019, to represent it in
connection with the Chapter 11 Cases.

As of May 3, 2019, the members of the Ad Hoc Committee
collectively, beneficially own or manage (or are the investment
advisors or managers for funds that beneficially own or manage)
approximately $23,313,531 in aggregate principal amount of the Term
Loans.

The Ad Hoc Committee disclosed that they held $22,508,335 of the
Term Loans in the original verified statement filed in early April
2019.

As of May 3, 2019, the holdings of Ad Hoc Committee members are:

    1. Whitebox Advisors LLC
       6300 Bee Cave Road, Suite 420
       Austin, TX 78746
       * Term Loan Amount: 5,499,623
       * RBL Amount: 0
       * Number of Shares-Common Equity: 0
       * Number of Warrants: 0

    2. Contrarian Capital Management LLC
       411 West Putnam Avenue, Suite 425
       Greenwich, CT 06830
       * Term Loan Amount: 5,428,193
       * Number of Shares-Common Equity: 3,351,073

    3. Marathon Asset Management LP
       One Bryant Park, 38th Floor
       New York, NY 10036
       * Term Loan Amount: 7,969,496
       * RBL Amount: 6,226,240
       * Number of Shares-Common Equity: 4,047,678
       * Number of Warrants: 33,187

    4. Monarch Alternative Capital LP
       535 Madison Avenue
       New York, NY 10022
       * Term Loan Amount: 4,416,218.82
       * RBL Amount:6,226,239.73
       * Number of Shares-Common Equity: 1,145,773
       * Number of Warrants: 0

Co-Counsel to the Ad Hoc Committee of Term Loan Lenders:

         Patricia B. Tomasco, Esq.
         QUINN EMANUEL URQUHART & SULLIVAN, LLP
         Pennzoil Place
         711 Louisiana St., Suite 500
         Houston, TX 77002
         Telephone: (713) 221-7227
         Facsimile: (713) 221-7100
         E-mail: pattytomasco@quinnemanuel.com

                - and –

         Robert J. Stark, Esq.
         Sigmund Wissner-Gross, Esq.
         Andrew M. Carty, Esq.
         Justin G. Cunningham, Esq.
         Alexander A. Fraser, Esq.
         BROWN RUDNICK LLP
         Seven Times Square
         New York, NY 10036
         Telephone: 212-209-4800
         Facsimile: 212-209-4801
         E-mail: rstark@brownrudnick.com
                 swissner-gross@brownrudnick.com
                 acarty@brownrudnick.com
                 jcunningham@brownrudnick.com
                 afraser@brownrudnick.com

                - and –

         Steven D. Pohl, Esq.
         BROWN RUDNICK LLP
         One Financial Center
         Boston, MA 02111
         Telephone: 617-856-8200
         Facsimile: 617-856-8201
         E-mail: spohl@brownrudnick.com

               About Vanguard Natural Resources

Vanguard Natural Resources Inc. -- https://www.vnrenergy.com/ -- is
an independent exploration and production company focused on the
production and development of oil and natural gas properties in the
United States.  Its assets consist primarily of producing and
non-producing oil and natural gas reserves located in the Green
River Basin in Wyoming, the Piceance Basin in Colorado, the Permian
Basin in West Texas and New Mexico, the Arkoma Basin in Oklahoma,
the Gulf Coast Basin in Texas, Louisiana and Alabama, the Big Horn
Basin in Wyoming and Montana, the Anadarko Basin in Oklahoma and
North Texas, the Wind River Basin in Wyoming, and the Powder River
Basin in Wyoming.  Headquartered in Houston, the company and its
affiliates have 295 employees.

Vanguard Natural Resources and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 19-31786) on March 31, 2019.  At the time of the filing, the
Debtors disclosed $1.478 billion in assets and $1.196 billion in
liabilities.

The cases are assigned to Judge David R. Jones.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as bankruptcy counsel; Blank Rome LLP as
co-counsel with Kirkland; Evercore Group LLC as financial advisor
and investment banker; Opportune LLP as restructuring advisor; and
Prime Clerk LLC as claims and balloting agent and administrative
advisor.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on April 11, 2019.  The committee tapped Locke
Lord LLP as its legal counsel.


VIDEO DISPLAY: Hancock Askew & Co. Raises Going Concern Doubt
-------------------------------------------------------------
Video Display Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K, disclosing net
income of $67,000 on $15,023,000 of net sales for the year ended
Feb. 28, 2019, compared to a net loss of $2,938,000 on $11,944,000
of net sales for the year ended in 2018.

The audit report of Hancock Askew & Co., LLP states that the
Company has historically reported net losses or breakeven results
along with reporting low levels of working capital and liquid
assets. These conditions raise substantial doubt about the
Company’s ability to continue as a going concern.

The Company's balance sheet at Feb. 28, 2019, showed total assets
of $7,807,000, total liabilities of $3,146,000, and a total
shareholders' equity of $4,661,000.

A copy of the Form 10-K is available at:

                       https://is.gd/QRpfGb

Video Display Corporation, together with its subsidiaries, designs,
engineers, manufactures, markets, distributes, and installs display
products and systems, and components for government, military,
aerospace, medical, industrial, and commercial organizations
worldwide.  The company operates through four divisions: Simulation
and Training Products, Cyber Secure Products, Data Display CRTs,
and Broadcast and Control Center Products. The company markets its
products directly to original equipment manufacturers and their
service organizations.  Video Display Corp was founded in 1975 and
is headquartered in Tucker, Georgia.


WATERBRIDGE MIDSTREAM: Moody's Assigns B1 CFR, Outlook Stable
-------------------------------------------------------------
Moody's Investors Service assigned first time ratings to
WaterBridge Midstream Operating LLC; including a B1 Corporate
Family Rating, a B1-PD Probability of Default Rating and a B1
rating to the company's proposed $1 billion senior secured term
loan due 2026. The outlook is stable.

Proceeds from the proposed term loan will be used to pay existing
bank debt and for acquisitions and growth capital expenditures.

"We expect WaterBridge to grow its earnings and deleverage with
limited capex needs beyond 2019 as associated water production in
the two basins, including the Permian, it operates in grows,"
stated Arvinder Saluja, Moody's Senior Analyst.

Assignments:

Issuer: Waterbridge Midstream Operating LLC

Probability of Default Rating, Assigned B1-PD

Corporate Family Rating, Assigned B1

Senior Secured Term Loan, Assigned B1 (LGD4)

Outlook Actions:

Issuer: Waterbridge Midstream Operating LLC

Outlook, Assigned Stable

RATINGS RATIONALE

WaterBridge's B1 CFR reflects the company's modest existing scale,
limited basin diversification, and reliance on successful ramp up
in hydrocarbon production volumes and the resulting water volumes
from its customers on its gathering pipelines and produced water
disposal facilities. The CFR is also constrained by the short track
record of water midstream companies operating water infrastructure
systems for third-party oil and gas producers. The ratings are
supported by earnings based on largely long term fee-based
contracts and acreage dedications that can lead to stable cash flow
generation, low working capital requirements, and an excess cash
flow sweep that will require repayment of debt if net first lien
leverage ratio is above 3.5x. Many of WaterBridge's customers are
among the most active producers in Delaware and Arkoma basins, its
areas of operation; its 2019 leverage and EBITDA are expected to be
above 4x and over $200 million, respectively, and could improve
further in 2020-21; and it's management has experience in water
handling for energy companies. There are execution risks associated
with WaterBridge's volume growth plans as they are dependent on the
counterparty producers, but even in a flat-rig environment in 2019
its systems should be able to capture volume growth. In addition,
Permian, where Waterbrige expects to derive 75% of its 2019
revenues, has emerged as the most prolific hydrocarbon producing
basin and its advantaged production economics are expected to drive
ongoing development efforts in its Delaware basin, thereby reducing
the volume risk.

The proposed $1 billion senior secured term loan facility is rated
B1, the same as the CFR given that the $150 million super-priority
revolver (unrated and maturing five years from the closing of the
transaction) is small relative to the term loan. The lack of
notching relative to the CFR also reflects the fact that the debt
under the proposed credit facilities comprises all of the company's
third party debt, excluding preferred equity. Moody's assigned
ratings assume that there will be no material variation from the
draft documentation reviewed.

WaterBridge will have good liquidity supported by positive cash
flow from operations and an undrawn revolving credit facility
expected to be due in early 2024. The capital expenditures for the
Permian and Arkoma systems are being pre-funded with the term loan
issuance. There is an excess cash flow sweep mechanism under the
term loan facility that requires repayment of debt with excess cash
flow as long as the consolidated net leverage ratio is above 3.5x.
Term loan is also subject to a debt service coverage ratio covenant
of at least 1.10x. The revolver is subject to a to a maximum total
net leverage covenant of 5x and a debt service coverage ratio
covenant of at least 1.10x. Moody's expects the company to be well
in compliance with these covenants at least through early 2020. The
company will have no near-term debt maturities.

The stable outlook reflects Moody's expectation that the company
will achieve its growth projections in 2019. The ratings could be
downgraded if it expects leverage to remain above 5x beyond 2019
due to weaker than expected water handling volumes. An aggressively
financed acquisition or a step-out acquisition that increases
business risk profile could also lead to a downgrade. The ratings
could be upgraded if EBITDA approaches $350 million while leverage
remains below 4x. Building a longer track record to further
validate the business model of the midstream water management
sector will also be an important consideration for an upgrade.

WaterBridge Midstream Operating LLC owns and operates water
infrastructure systems in the Delaware (part of Permian basin) and
Arkoma basins. The company's assets consist primarily of integrated
water management networks of gathering pipelines and produced water
disposal facilities that provide gathering, treating and disposal
of produced water.


YEAMAN MACHINE: $380K Sale of Business to YMT Approved
------------------------------------------------------
Judge Timothy A. Barnes of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Yeaman Machine
Technologies, Inc.'s sale of food packing equipment manufacturing
business at 2150 Touhy Ave., Elk Grove Village, Illinois. to YMT
Acquisition, LLC for $380,000.

The auction sale took place on May 23, 2019.  YMT's bid in the
amount of $380,000 is the highest and best bid over the bid of
Thrive Strategic Holdings, Inc., in the amount of $385,000.

The sale is free and clear of liens, claims and encumbrances, with
the same to attach to the proceeds of sale.

The Debtor is authorized to return to Thrive its earnest money
deposit.

The Debtor is authorized to pay the break-up fee of $17,500 to
Thrive from the proceeds of sale.

YMT will reimburse the Debtor or pay the Debtor's use and occupancy
rent for June, 2019 that will be for the benefit of the bankruptcy
estate.

                 About Yeaman Machine Technologies

Yeaman Machine Technologies, Inc., is a manufacturer of packing
machines.  The company's principal place of business is located at
2150 Touhy Ave., Elk Grove Village, Illinois 60007.

Yeaman Machine filed a Chapter 11 petition (Bankr. N.D. Ill. Case
No. 19-05932) on March 6, 2019.  In the petition signed by William
Yeaman, president, the Debtor estimated under $50,000 in assets
and
$1 million in debt.  The case is assigned to Judge Timothy A.
Barnes.  The Debtor is represented by John H. Redfield, Esq., at
Crane, Simon, Clar & Dan.  


ZACKY & SONS: June 10 Reopened Auction of 19 Properties Set
-----------------------------------------------------------
Judge Robert N. Kwan of the U.S. Bankruptcy Court for the Central
District of California authorized Zacky & Sons Poultry, LLC to
conduct to conduct a reopened auction solely for the purpose of
receiving bids for the aggregate of the 19 real properties owned by
the Debtor and its non-debtor affiliates that qualifies as an
Overbid to the credit bid from Great Rock Capital Partners
Management, LLC in the sum of $19 million determined by the Debtor
to be the highest and best bid for the 19 Properties at the
original Auction conducted on May 7, 2019.  

A hearing on the Motion was held on May 30, 2019 at 1:00 p.m.

The 19 Properties are:

  1. Great Rock Capital Partners Management, LLC Assets:

     a. 19010 & 19012 S. Brawley, Fresno, CA, APN 053-090-37S

     b. 43501 6th Avenue, Corcoran, CA, APN 046-270-004 and
046-270-035

     c. 590 W. Kamm Avenue, Caruthers, CA, APN 043-050-15S

     d. 16395 19th Avenue, Lemoore, CA, APN 024-170-020

     e. 19744 Kent Avenue, Lemoore, CA, APN 024-170-073

     f. 17388 & 17432 18th Avenue, Lemoore, CA, APN 026-060-007

     g. 8351 S. McMullin Grade, Fresno, CA, APN 035-061-08S

     h. 1486 S. Industrial Way, Kerman, CA, APN 023-060-44S

  2. Non-Debtor Assets:

     a. 20115 Del Oro Road, Apple Valley, CA, APN 434-191-33

     b. 7915 Deep Creek Road, Apple Valley, CA, APN 433-061-02 &
433-061-07

     c. 18606 Lords Road, Helendale, CA, APN 466-041-18

     d. 5556 S. Placer Avenue, Kerman, CA, APN 030-040-57

     e. 9507 Niles Avenue, Corcoran, CA, APN 044-030-036

     f. 8479 S. Madera Avenue, Kerman, CA, APN 030-070-49S

     g. 5546 S. Placer Avenue, Kerman, CA, APN 030-040-62

     h. 20739 W. American Avenue, Kerman, CA, APN 030-040-62

     i. 4606 E. Davis Avenue, Laton, CA, APN 056-020-50S

     j. 25765 Whitesbridge Avenue, Kerman, CA, APN 015-171-29S

     k. 15956 S. East Avenue, Caruthers, CA, APN 042-042-18S

The Reopened Auction for the 19 Properties will be conducted on
June 10, 2019 at 10:00 a.m., at the offices of Levene, Neale,
Bender, Yoo & Brill L.L.P. located at 800 S. Figueroa Street, Suite
1260, Los Angeles, California 90017.

Any party who wishes to be deemed a Qualified Bidder, as that term
is defined in Bidding Procedures approved by the Court pursuant to
its Order entered on March 5, 2019, and subsequently modified
pursuant to the Orders entered by the Bankruptcy Court, and
participate in the Reopened Auction is required to submit an actual
Overbid for a cash purchase price in the minimum sum of $19.05
million, together with Qualified Bid Documents and a Deposit (as
those terms are defined in the Bidding Procedures), by 5:00 p.m. on
June 3, 2019.  Any Overbids received by 5:00 pm on June 3, 2019
will themselves be subject to overbid, in accordance with the
Bidding Procedures, at the Reopened Auction.

Subject to the modifications set forth in this Order, all of the
Bidding Procedures will continue to apply to the Reopened Auction
for the 19 Properties.  The hearing on the Sale Motion is continued
to June 10, 2019 at 1:00 p.m.

The sale will be free and clear of all liens, claims, encumbrances
and other interests.

                   About Zacky and Sons Poultry

Zacky & Sons Poultry, LLC -- http://zackyfarms.com/-- is a grower,
processor, distributor, and wholesaler of poultry products.  It
offers turkey and chicken products such as sausages, franks, and
sliced meat.

Zacky & Sons Poultry, LLC, based in City of Industry, CA, filed a
Chapter 11 petition (Bankr. C.D. Cal. Case No. 18-23361) on Nov.
13, 2018.  In the petition signed by Lillian Zacky, managing
member, the Debtor estimated $50 million to $100 million in assets
and liabilities.

The Hon. Robert N. Kwan oversees the case.  

Ron Bender, Esq., at Levene Neale Bender Yoo & Brill L.L.P., serves
as bankruptcy counsel; GlassRatner Advisory & Capital Group, LLC as
financial advisor; and LKP Global Law, LLP as special employment
and labor counsel.



[*] McKinsey Proposes New Bankruptcy Disclosure Protocol
--------------------------------------------------------
Consulting firm McKinsey & Co. drafted a new protocol on bankruptcy
practices, addressing the complex legal and business issues
surrounding the disclosure obligations arising from a proposed
professional's retention under Section 327 in bankruptcy cases
involving more than $50 million in claims.

Restructuring advisers should be able to limit how much they reveal
about potential conflicts of interest in large bankruptcy cases, a
role typically left to federal judges, McKinsey & Co. said in a
24-page document filed with the U.S. Bankruptcy Court in Houston.

U.S. Bankruptcy Judge David R. Jones had authorized McKinsey to
draft the new guidelines, dubbed the Houston Disclosure Protocol,
after McKinsey was criticized for its failure to identify an array
of connections and relationships it had with parties involved in 14
chapter 11 cases in which it has worked.

Disclosure requirements should exclude matters that are deemed de
minimis, McKinsey said in the new protocol.

"The Protocol recognizes that disclosure of Connections may vary in
response to, inter alia, the size of the bankruptcy case and should
exclude de minimis matters.  The de minimis concept is applicable
to both the IPL and the disclosure of Connections in a Proposed
Professional's retention application.  De minimis exclusions can be
based, for example, on the small value of a claim, the small
ownership percentage and value of an equity interest, or other,
similar considerations.  An IPL, and a Proposed Professional's
disclosure of Connections in its retention application, should
state the criteria applied in making de minimis exclusions."

A copy of McKinsey's Houston Disclosure Protocol is available for
free at:

                https://is.gd/Pj4gHX


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
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Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

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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.
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Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

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